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AMERICAN REALTY INVESTORS INC（ARL）与世邦魏理仕（CBRE）财务数据对比。点击上方公司名可切换其他公司
世邦魏理仕的季度营收约是AMERICAN REALTY INVESTORS INC的880.6倍（$11.5B vs $13.0M）。AMERICAN REALTY INVESTORS INC净利率更高（75.2% vs 3.6%，领先71.6%）。世邦魏理仕同比增速更快（12.3% vs 8.1%）。过去两年世邦魏理仕的营收复合增速更高（21.1% vs 4.6%）
原温加顿地产投资者是一家房地产投资信托公司，主要投资于美国南部的购物中心，且项目大多以杂货店作为主力店。该公司在2021年8月被金考地产收购。
世邦魏理仕（CBRE Group）是全球领先的跨国商业地产服务与投资企业，业务涵盖物业顾问、交易撮合、资产管理、项目开发咨询等范畴，为全球各类企业及机构客户提供全链条不动产相关解决方案，服务网络覆盖全球各大主要城市。
ARL vs CBRE — 直观对比
营收规模更大
CBRE
是对方的880.6倍
$13.0M
营收增速更快
CBRE
高出4.2%
8.1%
净利率更高
ARL
高出71.6%
3.6%
两年增速更快
CBRE
近两年复合增速
4.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $13.0M | $11.5B |
| 净利润 | $9.8M | $416.0M |
| 毛利率 | — | 17.3% |
| 营业利润率 | -23.3% | 5.4% |
| 净利率 | 75.2% | 3.6% |
| 营收同比 | 8.1% | 12.3% |
| 净利润同比 | 6175.8% | -14.6% |
| 每股收益（稀释后） | $0.60 | $1.38 |
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ARLCBRE
| Q4 25 | $13.0M | $11.5B | ||
| Q3 25 | $12.8M | $10.1B | ||
| Q2 25 | $12.2M | $9.6B | ||
| Q1 25 | $12.0M | $8.8B | ||
| Q4 24 | $12.0M | $10.2B | ||
| Q3 24 | $11.6M | $8.8B | ||
| Q2 24 | $11.8M | $8.2B | ||
| Q1 24 | $11.9M | $7.8B |
净利润ARLCBRE
| Q4 25 | $9.8M | $416.0M | ||
| Q3 25 | $129.0K | $363.0M | ||
| Q2 25 | $2.8M | $215.0M | ||
| Q1 25 | $3.0M | $163.0M | ||
| Q4 24 | $-161.0K | $487.0M | ||
| Q3 24 | $-17.5M | $225.0M | ||
| Q2 24 | $1.2M | $130.0M | ||
| Q1 24 | $1.8M | $126.0M |
毛利率ARLCBRE
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 17.7% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | — | 18.1% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 17.1% |
营业利润率ARLCBRE
| Q4 25 | -23.3% | 5.4% | ||
| Q3 25 | -12.3% | 4.8% | ||
| Q2 25 | -8.3% | 3.9% | ||
| Q1 25 | -6.8% | 3.1% | ||
| Q4 24 | -14.8% | 5.8% | ||
| Q3 24 | -17.8% | 4.2% | ||
| Q2 24 | -10.8% | 3.0% | ||
| Q1 24 | -12.7% | 2.6% |
净利率ARLCBRE
| Q4 25 | 75.2% | 3.6% | ||
| Q3 25 | 1.0% | 3.6% | ||
| Q2 25 | 23.2% | 2.2% | ||
| Q1 25 | 24.7% | 1.9% | ||
| Q4 24 | -1.3% | 4.8% | ||
| Q3 24 | -150.4% | 2.5% | ||
| Q2 24 | 9.9% | 1.6% | ||
| Q1 24 | 14.7% | 1.6% |
每股收益（稀释后）ARLCBRE
| Q4 25 | $0.60 | $1.38 | ||
| Q3 25 | $0.01 | $1.21 | ||
| Q2 25 | $0.18 | $0.72 | ||
| Q1 25 | $0.18 | $0.54 | ||
| Q4 24 | $-0.01 | $1.58 | ||
| Q3 24 | $-1.08 | $0.73 | ||
| Q2 24 | $0.07 | $0.42 | ||
| Q1 24 | $0.11 | $0.41 |
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 | $89.1M | $1.9B |
| 总债务越低越好 | $214.4M | — |
| 股东权益账面价值 | $617.4M | $8.9B |
| 总资产 | $1.1B | $30.9B |
| 负债/权益比越低杠杆越低 | 0.35× | — |
8季度趋势，按日历期对齐
现金及短期投资ARLCBRE
| Q4 25 | $89.1M | $1.9B | ||
| Q3 25 | $82.8M | $1.7B | ||
| Q2 25 | $73.5M | $1.4B | ||
| Q1 25 | $88.7M | $1.4B | ||
| Q4 24 | $99.7M | $1.1B | ||
| Q3 24 | $131.6M | $1.0B | ||
| Q2 24 | $127.5M | $928.0M | ||
| Q1 24 | $130.9M | $1.0B |
总债务ARLCBRE
| Q4 25 | $214.4M | — | ||
| Q3 25 | $227.0M | — | ||
| Q2 25 | $216.0M | — | ||
| Q1 25 | $201.7M | — | ||
| Q4 24 | $185.4M | — | ||
| Q3 24 | $183.8M | — | ||
| Q2 24 | $181.0M | — | ||
| Q1 24 | $181.8M | — |
股东权益ARLCBRE
| Q4 25 | $617.4M | $8.9B | ||
| Q3 25 | $607.8M | $8.5B | ||
| Q2 25 | $607.8M | $8.3B | ||
| Q1 25 | $604.9M | $8.3B | ||
| Q4 24 | $601.8M | $8.4B | ||
| Q3 24 | $602.2M | $8.7B | ||
| Q2 24 | $619.9M | $8.4B | ||
| Q1 24 | $618.8M | $8.3B |
总资产ARLCBRE
| Q4 25 | $1.1B | $30.9B | ||
| Q3 25 | $1.1B | $28.6B | ||
| Q2 25 | $1.1B | $27.7B | ||
| Q1 25 | $1.0B | $26.4B | ||
| Q4 24 | $1.0B | $24.4B | ||
| Q3 24 | $1.0B | $24.8B | ||
| Q2 24 | $1.0B | $23.5B | ||
| Q1 24 | $1.0B | $23.0B |
负债/权益比ARLCBRE
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.36× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.29× | — | ||
| Q1 24 | 0.29× | — |
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 | $-3.2M | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 9.4% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | -0.33× | 2.94× |
| 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ARLCBRE
| Q4 25 | $-3.2M | $1.2B | ||
| Q3 25 | $8.0M | $827.0M | ||
| Q2 25 | $-2.9M | $57.0M | ||
| Q1 25 | $-7.4M | $-546.0M | ||
| Q4 24 | $-15.8M | $1.3B | ||
| Q3 24 | $13.5M | $573.0M | ||
| Q2 24 | $-503.0K | $287.0M | ||
| Q1 24 | $3.9M | $-492.0M |
自由现金流ARLCBRE
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $743.0M | ||
| Q2 25 | — | $-17.0M | ||
| Q1 25 | — | $-610.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $494.0M | ||
| Q2 24 | — | $220.0M | ||
| Q1 24 | — | $-560.0M |
自由现金流率ARLCBRE
| Q4 25 | — | 9.4% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | — | -0.2% | ||
| Q1 25 | — | -7.0% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | -7.2% |
资本支出强度ARLCBRE
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.9% |
现金转化率ARLCBRE
| Q4 25 | -0.33× | 2.94× | ||
| Q3 25 | 61.81× | 2.28× | ||
| Q2 25 | -1.03× | 0.27× | ||
| Q1 25 | -2.50× | -3.35× | ||
| Q4 24 | — | 2.75× | ||
| Q3 24 | — | 2.55× | ||
| Q2 24 | -0.43× | 2.21× | ||
| Q1 24 | 2.21× | -3.90× |
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
ARL
暂无分部数据
CBRE
| Other | $5.8B | 51% |
| Project Management Segment | $2.2B | 19% |
| Advisory Leasing | $1.5B | 13% |
| Advisory Sales | $756.0M | 7% |
| Property Management | $695.0M | 6% |
| Investment Management Property Management Brokerage And Other Professional Services | $156.0M | 1% |
| Commercial Mortgage Origination | $95.0M | 1% |
| Other Portfolio Services | $87.0M | 1% |
| Loan Servicing | $73.0M | 1% |
| Real Estate Development Services | $60.0M | 1% |
