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阿波罗全球管理（APO）与Ferguson Enterprises Inc.（FERG）财务数据对比。点击上方公司名可切换其他公司
阿波罗全球管理的季度营收约是Ferguson Enterprises Inc.的1.2倍（$9.9B vs $8.2B），Ferguson Enterprises Inc.净利率更高（7.0% vs 6.9%，领先0.0%），阿波罗全球管理同比增速更快（86.7% vs 5.1%），过去两年阿波罗全球管理的营收复合增速更高（18.4% vs 10.6%）
阿波罗全球管理是美国头部另类资产管理机构，截至2025年总资产管理规模达8400亿美元，业务涵盖3920亿美元的信贷类资产（含夹层资本、对冲基金、不良贷款、担保贷款凭证等）、990亿美元私募股权，以及462亿美元的地产、基建等实体资产，为全球客户提供专业资产管理服务。
Ferguson Enterprises Inc.总部位于美国弗吉尼亚州纽波特纽斯，注册地为特拉华州，是美国规模最大的水暖、暖通空调、家电、照明、管材管件、给排水产品分销商。公司95%营收来自美国本土，5%来自加拿大，拥有3.6万家供应商，运营11个区域配送中心、4个主配送中心及近5900个营业网点。
APO vs FERG — 直观对比
营收规模更大
APO
是对方的1.2倍
$8.2B
营收增速更快
APO
高出81.6%
5.1%
净利率更高
FERG
高出0.0%
6.9%
两年增速更快
APO
近两年复合增速
10.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $8.2B |
| 净利润 | $684.0M | $570.0M |
| 毛利率 | — | 30.7% |
| 营业利润率 | 17.8% | 9.4% |
| 净利率 | 6.9% | 7.0% |
| 营收同比 | 86.7% | 5.1% |
| 净利润同比 | -54.0% | 21.3% |
| 每股收益（稀释后） | $1.09 | $2.90 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APOFERG
| Q4 25 | $9.9B | $8.2B | ||
| Q3 25 | $9.8B | $8.5B | ||
| Q2 25 | $6.8B | $7.6B | ||
| Q1 25 | $5.5B | $6.9B | ||
| Q4 24 | $5.3B | $7.8B | ||
| Q3 24 | $7.8B | $7.9B | ||
| Q2 24 | $6.0B | $7.3B | ||
| Q1 24 | $7.0B | $6.7B |
净利润APOFERG
| Q4 25 | $684.0M | $570.0M | ||
| Q3 25 | $1.7B | $700.0M | ||
| Q2 25 | $630.0M | $410.0M | ||
| Q1 25 | $442.0M | $276.0M | ||
| Q4 24 | $1.5B | $470.0M | ||
| Q3 24 | $811.0M | $451.0M | ||
| Q2 24 | $853.0M | $443.0M | ||
| Q1 24 | $1.4B | $322.0M |
毛利率APOFERG
| Q4 25 | — | 30.7% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 29.7% | ||
| Q4 24 | — | 30.1% | ||
| Q3 24 | — | 31.0% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 30.4% |
营业利润率APOFERG
| Q4 25 | 17.8% | 9.4% | ||
| Q3 25 | 29.5% | 10.9% | ||
| Q2 25 | 12.4% | 8.0% | ||
| Q1 25 | 21.3% | 6.0% | ||
| Q4 24 | 32.6% | 8.6% | ||
| Q3 24 | 26.8% | 10.2% | ||
| Q2 24 | 23.9% | 8.6% | ||
| Q1 24 | 31.1% | 7.1% |
净利率APOFERG
| Q4 25 | 6.9% | 7.0% | ||
| Q3 25 | 17.7% | 8.2% | ||
| Q2 25 | 9.2% | 5.4% | ||
| Q1 25 | 8.0% | 4.0% | ||
| Q4 24 | 28.1% | 6.0% | ||
| Q3 24 | 10.4% | 5.7% | ||
| Q2 24 | 14.2% | 6.1% | ||
| Q1 24 | 20.3% | 4.8% |
每股收益（稀释后）APOFERG
| Q4 25 | $1.09 | $2.90 | ||
| Q3 25 | $2.78 | $3.53 | ||
| Q2 25 | $0.99 | $2.07 | ||
| Q1 25 | $0.68 | $1.38 | ||
| Q4 24 | $2.41 | $2.34 | ||
| Q3 24 | $1.29 | $2.23 | ||
| Q2 24 | $1.35 | $2.18 | ||
| Q1 24 | $2.28 | $1.58 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $526.0M |
| 总债务越低越好 | $13.4B | — |
| 股东权益账面价值 | $23.3B | $6.1B |
| 总资产 | $460.9B | $17.7B |
| 负债/权益比越低杠杆越低 | 0.57× | — |
8季度趋势，按日历期对齐
现金及短期投资APOFERG
| Q4 25 | — | $526.0M | ||
| Q3 25 | — | $674.0M | ||
| Q2 25 | — | $519.0M | ||
| Q1 25 | — | $764.0M | ||
| Q4 24 | — | $601.0M | ||
| Q3 24 | — | $571.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务APOFERG
| Q4 25 | $13.4B | — | ||
| Q3 25 | $12.6B | $4.2B | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $10.6B | — | ||
| Q4 24 | $10.6B | — | ||
| Q3 24 | $9.8B | $4.0B | ||
| Q2 24 | $9.8B | — | ||
| Q1 24 | $9.6B | — |
股东权益APOFERG
| Q4 25 | $23.3B | $6.1B | ||
| Q3 25 | $23.1B | $5.8B | ||
| Q2 25 | $19.3B | $5.5B | ||
| Q1 25 | $18.0B | $5.5B | ||
| Q4 24 | $17.3B | $5.7B | ||
| Q3 24 | $17.9B | $5.6B | ||
| Q2 24 | $15.3B | $5.5B | ||
| Q1 24 | $14.8B | $5.4B |
总资产APOFERG
| Q4 25 | $460.9B | $17.7B | ||
| Q3 25 | $449.5B | $17.7B | ||
| Q2 25 | $419.6B | $17.3B | ||
| Q1 25 | $395.0B | $16.5B | ||
| Q4 24 | $377.9B | $16.9B | ||
| Q3 24 | $368.7B | $16.6B | ||
| Q2 24 | $346.5B | — | ||
| Q1 24 | $334.1B | — |
负债/权益比APOFERG
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.55× | 0.72× | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.59× | — | ||
| Q4 24 | 0.61× | — | ||
| Q3 24 | 0.55× | 0.70× | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.65× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $4.7B | $430.0M |
| 自由现金流经营现金流 - 资本支出 | — | $312.0M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | 6.83× | 0.75× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APOFERG
| Q4 25 | $4.7B | $430.0M | ||
| Q3 25 | $303.0M | $541.0M | ||
| Q2 25 | $1.3B | $682.0M | ||
| Q1 25 | $1.0B | $340.0M | ||
| Q4 24 | $-4.0M | $345.0M | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $70.0M | — |
自由现金流APOFERG
| Q4 25 | — | $312.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $605.0M | ||
| Q1 25 | — | $259.0M | ||
| Q4 24 | — | $268.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率APOFERG
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度APOFERG
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率APOFERG
| Q4 25 | 6.83× | 0.75× | ||
| Q3 25 | 0.17× | 0.77× | ||
| Q2 25 | 2.00× | 1.66× | ||
| Q1 25 | 2.29× | 1.23× | ||
| Q4 24 | -0.00× | 0.73× | ||
| Q3 24 | 2.29× | — | ||
| Q2 24 | 1.56× | — | ||
| Q1 24 | 0.05× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
FERG
| United States Segment | $7.8B | 95% |
| Other | $412.0M | 5% |
