vs
阿波罗全球管理（APO）与BLUE OWL CAPITAL INC.（OWL）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BLUE OWL CAPITAL INC.的13.1倍（$9.9B vs $755.6M）。阿波罗全球管理净利率更高（6.9% vs 6.3%，领先0.6%）。阿波罗全球管理同比增速更快（86.7% vs 19.7%）。过去两年BLUE OWL CAPITAL INC.的营收复合增速更高（21.3% vs 18.4%）
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。
Blue Owl Capital Inc.是美国另类投资资产管理机构，于纽约证券交易所挂牌上市，股票代码为OWL，总部设在纽约市，在伦敦、迪拜、中国香港等全球多地设有办事处，专注为各类客户提供专业的另类资产管理解决方案。
APO vs OWL — 直观对比
营收规模更大
APO
是对方的13.1倍
$755.6M
营收增速更快
APO
高出67.0%
19.7%
净利率更高
APO
高出0.6%
6.3%
两年增速更快
OWL
近两年复合增速
18.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $755.6M |
| 净利润 | $684.0M | $47.7M |
| 毛利率 | — | — |
| 营业利润率 | 17.8% | 22.2% |
| 净利率 | 6.9% | 6.3% |
| 营收同比 | 86.7% | 19.7% |
| 净利润同比 | -54.0% | 129.8% |
| 每股收益（稀释后） | $1.09 | $0.07 |
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APOOWL
| Q4 25 | $9.9B | $755.6M | ||
| Q3 25 | $9.8B | $728.0M | ||
| Q2 25 | $6.8B | $703.1M | ||
| Q1 25 | $5.5B | $683.5M | ||
| Q4 24 | $5.3B | $631.4M | ||
| Q3 24 | $7.8B | $600.9M | ||
| Q2 24 | $6.0B | $549.8M | ||
| Q1 24 | $7.0B | $513.3M |
净利润APOOWL
| Q4 25 | $684.0M | $47.7M | ||
| Q3 25 | $1.7B | $6.3M | ||
| Q2 25 | $630.0M | $17.4M | ||
| Q1 25 | $442.0M | $7.4M | ||
| Q4 24 | $1.5B | $20.7M | ||
| Q3 24 | $811.0M | $29.8M | ||
| Q2 24 | $853.0M | $33.9M | ||
| Q1 24 | $1.4B | $25.1M |
营业利润率APOOWL
| Q4 25 | 17.8% | 22.2% | ||
| Q3 25 | 29.5% | 7.6% | ||
| Q2 25 | 12.4% | 12.0% | ||
| Q1 25 | 21.3% | 5.9% | ||
| Q4 24 | 32.6% | 11.7% | ||
| Q3 24 | 26.8% | 18.7% | ||
| Q2 24 | 23.9% | 28.4% | ||
| Q1 24 | 31.1% | 24.7% |
净利率APOOWL
| Q4 25 | 6.9% | 6.3% | ||
| Q3 25 | 17.7% | 0.9% | ||
| Q2 25 | 9.2% | 2.5% | ||
| Q1 25 | 8.0% | 1.1% | ||
| Q4 24 | 28.1% | 3.3% | ||
| Q3 24 | 10.4% | 5.0% | ||
| Q2 24 | 14.2% | 6.2% | ||
| Q1 24 | 20.3% | 4.9% |
每股收益（稀释后）APOOWL
| Q4 25 | $1.09 | $0.07 | ||
| Q3 25 | $2.78 | $0.01 | ||
| Q2 25 | $0.99 | $0.02 | ||
| Q1 25 | $0.68 | $0.00 | ||
| Q4 24 | $2.41 | $0.06 | ||
| Q3 24 | $1.29 | $0.04 | ||
| Q2 24 | $1.35 | $0.06 | ||
| Q1 24 | $2.28 | $0.04 |
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 | — | $194.5M |
| 总债务越低越好 | $13.4B | $3.3B |
| 股东权益账面价值 | $23.3B | $2.2B |
| 总资产 | $460.9B | $12.5B |
| 负债/权益比越低杠杆越低 | 0.57× | 1.51× |
8季度趋势，按日历期对齐
现金及短期投资APOOWL
| Q4 25 | — | $194.5M | ||
| Q3 25 | — | $137.3M | ||
| Q2 25 | — | $117.6M | ||
| Q1 25 | — | $97.6M | ||
| Q4 24 | — | $152.1M | ||
| Q3 24 | — | $115.9M | ||
| Q2 24 | — | $436.8M | ||
| Q1 24 | — | $155.8M |
总债务APOOWL
| Q4 25 | $13.4B | $3.3B | ||
| Q3 25 | $12.6B | $3.2B | ||
| Q2 25 | $12.1B | $3.2B | ||
| Q1 25 | $10.6B | $3.2B | ||
| Q4 24 | $10.6B | $2.6B | ||
| Q3 24 | $9.8B | $2.5B | ||
| Q2 24 | $9.8B | $2.5B | ||
| Q1 24 | $9.6B | $2.1B |
股东权益APOOWL
| Q4 25 | $23.3B | $2.2B | ||
| Q3 25 | $23.1B | $2.3B | ||
| Q2 25 | $19.3B | $2.4B | ||
| Q1 25 | $18.0B | $2.3B | ||
| Q4 24 | $17.3B | $2.1B | ||
| Q3 24 | $17.9B | $2.0B | ||
| Q2 24 | $15.3B | $1.7B | ||
| Q1 24 | $14.8B | $1.6B |
总资产APOOWL
| Q4 25 | $460.9B | $12.5B | ||
| Q3 25 | $449.5B | $12.5B | ||
| Q2 25 | $419.6B | $12.3B | ||
| Q1 25 | $395.0B | $12.3B | ||
| Q4 24 | $377.9B | $11.0B | ||
| Q3 24 | $368.7B | $10.8B | ||
| Q2 24 | $346.5B | $9.7B | ||
| Q1 24 | $334.1B | $9.0B |
负债/权益比APOOWL
| Q4 25 | 0.57× | 1.51× | ||
| Q3 25 | 0.55× | 1.41× | ||
| Q2 25 | 0.63× | 1.38× | ||
| Q1 25 | 0.59× | 1.37× | ||
| Q4 24 | 0.61× | 1.22× | ||
| Q3 24 | 0.55× | 1.27× | ||
| Q2 24 | 0.64× | 1.41× | ||
| Q1 24 | 0.65× | 1.26× |
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 | $382.9M |
| 自由现金流经营现金流 - 资本支出 | — | $359.1M |
| 自由现金流率自由现金流/营收 | — | 47.5% |
| 资本支出强度资本支出/营收 | — | 3.1% |
| 现金转化率经营现金流/净利润 | 6.83× | 8.03× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流APOOWL
| Q4 25 | $4.7B | $382.9M | ||
| Q3 25 | $303.0M | $433.1M | ||
| Q2 25 | $1.3B | $422.5M | ||
| Q1 25 | $1.0B | $17.6M | ||
| Q4 24 | $-4.0M | $324.0M | ||
| Q3 24 | $1.9B | $326.0M | ||
| Q2 24 | $1.3B | $302.3M | ||
| Q1 24 | $70.0M | $47.2M |
自由现金流APOOWL
| Q4 25 | — | $359.1M | ||
| Q3 25 | — | $422.5M | ||
| Q2 25 | — | $412.5M | ||
| Q1 25 | — | $4.2M | ||
| Q4 24 | — | $310.1M | ||
| Q3 24 | — | $314.8M | ||
| Q2 24 | — | $269.4M | ||
| Q1 24 | — | $41.1M |
自由现金流率APOOWL
| Q4 25 | — | 47.5% | ||
| Q3 25 | — | 58.0% | ||
| Q2 25 | — | 58.7% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 49.1% | ||
| Q3 24 | — | 52.4% | ||
| Q2 24 | — | 49.0% | ||
| Q1 24 | — | 8.0% |
资本支出强度APOOWL
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 6.0% | ||
| Q1 24 | — | 1.2% |
现金转化率APOOWL
| Q4 25 | 6.83× | 8.03× | ||
| Q3 25 | 0.17× | 68.64× | ||
| Q2 25 | 2.00× | 24.25× | ||
| Q1 25 | 2.29× | 2.37× | ||
| Q4 24 | -0.00× | 15.62× | ||
| Q3 24 | 2.29× | 10.94× | ||
| Q2 24 | 1.56× | 8.91× | ||
| Q1 24 | 0.05× | 1.88× |
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% |
OWL
| Credit Platform | $455.0M | 60% |
| GP Strategic Capital Platform | $157.0M | 21% |
| Administrative Service | $87.6M | 12% |
| IPI Partners LLC | $33.8M | 4% |
| Other | $22.2M | 3% |
