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阿波罗全球管理（APO）与Unum Group（UNM）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Unum Group的3.0倍（$9.9B vs $3.2B）。阿波罗全球管理净利率更高（6.9% vs 5.4%，领先1.6%）。阿波罗全球管理同比增速更快（86.7% vs 0.2%）。过去两年阿波罗全球管理的营收复合增速更高（18.4% vs 0.7%）
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。
Unum Group是美国财富500强保险企业，总部位于田纳西州查塔努加，前身为1848年成立的联合相互保险公司，1999年合并后曾用名UnumProvident至2007年。集团现设四大业务板块，覆盖美、英、波兰市场，旗下承保主体包括保罗里维尔人寿保险、普罗维登斯人伤意外险公司等。
APO vs UNM — 直观对比
营收规模更大
APO
是对方的3.0倍
$3.2B
营收增速更快
APO
高出86.5%
0.2%
净利率更高
APO
高出1.6%
5.4%
两年增速更快
APO
近两年复合增速
0.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $3.2B |
| 净利润 | $684.0M | $174.1M |
| 毛利率 | — | — |
| 营业利润率 | 17.8% | 6.7% |
| 净利率 | 6.9% | 5.4% |
| 营收同比 | 86.7% | 0.2% |
| 净利润同比 | -54.0% | -50.1% |
| 每股收益（稀释后） | $1.09 | $1.06 |
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APOUNM
| Q4 25 | $9.9B | $3.2B | ||
| Q3 25 | $9.8B | $3.4B | ||
| Q2 25 | $6.8B | $3.4B | ||
| Q1 25 | $5.5B | $3.1B | ||
| Q4 24 | $5.3B | $3.2B | ||
| Q3 24 | $7.8B | $3.2B | ||
| Q2 24 | $6.0B | $3.2B | ||
| Q1 24 | $7.0B | $3.2B |
净利润APOUNM
| Q4 25 | $684.0M | $174.1M | ||
| Q3 25 | $1.7B | $39.7M | ||
| Q2 25 | $630.0M | $335.6M | ||
| Q1 25 | $442.0M | $189.1M | ||
| Q4 24 | $1.5B | $348.7M | ||
| Q3 24 | $811.0M | $645.7M | ||
| Q2 24 | $853.0M | $389.5M | ||
| Q1 24 | $1.4B | $395.2M |
营业利润率APOUNM
| Q4 25 | 17.8% | 6.7% | ||
| Q3 25 | 29.5% | 1.6% | ||
| Q2 25 | 12.4% | 12.4% | ||
| Q1 25 | 21.3% | 7.9% | ||
| Q4 24 | 32.6% | 13.8% | ||
| Q3 24 | 26.8% | 15.6% | ||
| Q2 24 | 23.9% | 15.3% | ||
| Q1 24 | 31.1% | 15.5% |
净利率APOUNM
| Q4 25 | 6.9% | 5.4% | ||
| Q3 25 | 17.7% | 1.2% | ||
| Q2 25 | 9.2% | 10.0% | ||
| Q1 25 | 8.0% | 6.1% | ||
| Q4 24 | 28.1% | 10.8% | ||
| Q3 24 | 10.4% | 20.1% | ||
| Q2 24 | 14.2% | 12.0% | ||
| Q1 24 | 20.3% | 12.3% |
每股收益（稀释后）APOUNM
| Q4 25 | $1.09 | $1.06 | ||
| Q3 25 | $2.78 | $0.23 | ||
| Q2 25 | $0.99 | $1.92 | ||
| Q1 25 | $0.68 | $1.06 | ||
| Q4 24 | $2.41 | $1.91 | ||
| Q3 24 | $1.29 | $3.46 | ||
| Q2 24 | $1.35 | $2.05 | ||
| Q1 24 | $2.28 | $2.04 |
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 | — | — |
| 总债务越低越好 | $13.4B | $3.8B |
| 股东权益账面价值 | $23.3B | $11.1B |
| 总资产 | $460.9B | $63.5B |
| 负债/权益比越低杠杆越低 | 0.57× | 0.34× |
8季度趋势，按日历期对齐
总债务APOUNM
| Q4 25 | $13.4B | $3.8B | ||
| Q3 25 | $12.6B | $3.5B | ||
| Q2 25 | $12.1B | $3.5B | ||
| Q1 25 | $10.6B | $3.5B | ||
| Q4 24 | $10.6B | $3.5B | ||
| Q3 24 | $9.8B | $3.5B | ||
| Q2 24 | $9.8B | $3.5B | ||
| Q1 24 | $9.6B | $3.4B |
股东权益APOUNM
| Q4 25 | $23.3B | $11.1B | ||
| Q3 25 | $23.1B | $10.9B | ||
| Q2 25 | $19.3B | $11.3B | ||
| Q1 25 | $18.0B | $11.2B | ||
| Q4 24 | $17.3B | $11.0B | ||
| Q3 24 | $17.9B | $11.0B | ||
| Q2 24 | $15.3B | $10.5B | ||
| Q1 24 | $14.8B | $10.2B |
总资产APOUNM
| Q4 25 | $460.9B | $63.5B | ||
| Q3 25 | $449.5B | $63.7B | ||
| Q2 25 | $419.6B | $62.8B | ||
| Q1 25 | $395.0B | $62.5B | ||
| Q4 24 | $377.9B | $62.0B | ||
| Q3 24 | $368.7B | $64.1B | ||
| Q2 24 | $346.5B | $62.0B | ||
| Q1 24 | $334.1B | $62.5B |
负债/权益比APOUNM
| Q4 25 | 0.57× | 0.34× | ||
| Q3 25 | 0.55× | 0.32× | ||
| Q2 25 | 0.63× | 0.31× | ||
| Q1 25 | 0.59× | 0.31× | ||
| Q4 24 | 0.61× | 0.32× | ||
| Q3 24 | 0.55× | 0.32× | ||
| Q2 24 | 0.64× | 0.33× | ||
| Q1 24 | 0.65× | 0.34× |
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 | $357.9M |
| 自由现金流经营现金流 - 资本支出 | — | $320.1M |
| 自由现金流率自由现金流/营收 | — | 9.9% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 6.83× | 2.06× |
| 过去12个月自由现金流最近4个季度 | — | $555.4M |
8季度趋势，按日历期对齐
经营现金流APOUNM
| Q4 25 | $4.7B | $357.9M | ||
| Q3 25 | $303.0M | $-371.8M | ||
| Q2 25 | $1.3B | $348.0M | ||
| Q1 25 | $1.0B | $353.6M | ||
| Q4 24 | $-4.0M | $485.8M | ||
| Q3 24 | $1.9B | $390.0M | ||
| Q2 24 | $1.3B | $339.1M | ||
| Q1 24 | $70.0M | $298.3M |
自由现金流APOUNM
| Q4 25 | — | $320.1M | ||
| Q3 25 | — | $-402.6M | ||
| Q2 25 | — | $320.1M | ||
| Q1 25 | — | $317.8M | ||
| Q4 24 | — | $453.8M | ||
| Q3 24 | — | $352.3M | ||
| Q2 24 | — | $311.4M | ||
| Q1 24 | — | $270.0M |
自由现金流率APOUNM
| Q4 25 | — | 9.9% | ||
| Q3 25 | — | -11.9% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 11.0% | ||
| Q2 24 | — | 9.6% | ||
| Q1 24 | — | 8.4% |
资本支出强度APOUNM
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 0.9% |
现金转化率APOUNM
| Q4 25 | 6.83× | 2.06× | ||
| Q3 25 | 0.17× | -9.37× | ||
| Q2 25 | 2.00× | 1.04× | ||
| Q1 25 | 2.29× | 1.87× | ||
| Q4 24 | -0.00× | 1.39× | ||
| Q3 24 | 2.29× | 0.60× | ||
| Q2 24 | 1.56× | 0.87× | ||
| Q1 24 | 0.05× | 0.75× |
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% |
UNM
| Unum Us | $2.0B | 60% |
| Colonial Life | $507.0M | 16% |
| Closed Block | $445.6M | 14% |
| Unum International | $323.0M | 10% |
