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爱玛客（ARMK）与贝莱德（BLK）财务数据对比。点击上方公司名可切换其他公司
贝莱德的季度营收约是爱玛客的1.5倍（$7.0B vs $4.8B），贝莱德净利率更高（16.1% vs 2.0%，领先14.1%），贝莱德自由现金流更多（$2.1B vs $-904.4M），过去两年贝莱德的营收复合增速更高（24.5% vs 7.3%）
爱玛客是美国知名的餐饮服务与设施管理服务商，服务覆盖教育、司法监管、医疗、企业、休闲文旅等多个领域，业务遍布北美地区及英国、德国、智利、爱尔兰、西班牙在内的14个国家，为各场景客户提供专业后勤支持解决方案。
贝莱德是美国跨国投资企业，成立于1988年，最初主打企业风险管理与固定收益机构资产管理业务，现为全球规模最大的资产管理机构，截至2025年管理资产规模达12.5万亿美元。公司总部位于纽约，在30个国家设有70个办事处，客户遍布全球100个国家。
ARMK vs BLK — 直观对比
营收规模更大
BLK
是对方的1.5倍
$4.8B
净利率更高
BLK
高出14.1%
2.0%
自由现金流更多
BLK
多$3.1B
$-904.4M
两年增速更快
BLK
近两年复合增速
7.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $7.0B |
| 净利润 | $96.2M | $1.1B |
| 毛利率 | — | — |
| 营业利润率 | 4.5% | 23.7% |
| 净利率 | 2.0% | 16.1% |
| 营收同比 | 6.1% | — |
| 净利润同比 | -9.0% | — |
| 每股收益（稀释后） | $0.36 | $7.05 |
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ARMKBLK
| Q1 26 | $4.8B | — | ||
| Q4 25 | $5.0B | $7.0B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | $4.6B | $5.4B | ||
| Q1 25 | $4.3B | $5.3B | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.4B | $5.2B | ||
| Q2 24 | $4.4B | $4.8B |
净利润ARMKBLK
| Q1 26 | $96.2M | — | ||
| Q4 25 | $87.1M | $1.1B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $71.8M | $1.6B | ||
| Q1 25 | $61.9M | $1.5B | ||
| Q4 24 | $105.6M | — | ||
| Q3 24 | $122.4M | $1.6B | ||
| Q2 24 | $58.1M | $1.5B |
营业利润率ARMKBLK
| Q1 26 | 4.5% | — | ||
| Q4 25 | 4.3% | 23.7% | ||
| Q3 25 | — | 30.0% | ||
| Q2 25 | 3.9% | 31.9% | ||
| Q1 25 | 4.1% | 32.2% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.0% | 38.6% | ||
| Q2 24 | 3.7% | 37.5% |
净利率ARMKBLK
| Q1 26 | 2.0% | — | ||
| Q4 25 | 1.7% | 16.1% | ||
| Q3 25 | — | 20.3% | ||
| Q2 25 | 1.6% | 29.4% | ||
| Q1 25 | 1.4% | 28.6% | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 2.8% | 31.4% | ||
| Q2 24 | 1.3% | 31.1% |
每股收益（稀释后）ARMKBLK
| Q1 26 | $0.36 | — | ||
| Q4 25 | $0.33 | $7.05 | ||
| Q3 25 | — | $8.43 | ||
| Q2 25 | $0.27 | $10.19 | ||
| Q1 25 | $0.23 | $9.64 | ||
| Q4 24 | $0.39 | — | ||
| Q3 24 | $0.46 | $10.90 | ||
| Q2 24 | $0.22 | $9.99 |
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 | $439.6M | $11.5B |
| 总债务越低越好 | $6.2B | $12.8B |
| 股东权益账面价值 | $3.2B | $55.9B |
| 总资产 | $13.5B | $170.0B |
| 负债/权益比越低杠杆越低 | 1.94× | 0.23× |
8季度趋势，按日历期对齐
现金及短期投资ARMKBLK
| Q1 26 | $439.6M | — | ||
| Q4 25 | $639.1M | $11.5B | ||
| Q3 25 | — | $10.0B | ||
| Q2 25 | $501.5M | $9.5B | ||
| Q1 25 | $920.5M | $7.7B | ||
| Q4 24 | $484.1M | — | ||
| Q3 24 | $672.5M | $14.0B | ||
| Q2 24 | $436.1M | — |
总债务ARMKBLK
| Q1 26 | $6.2B | — | ||
| Q4 25 | $5.4B | $12.8B | ||
| Q3 25 | — | $12.8B | ||
| Q2 25 | $6.3B | $12.8B | ||
| Q1 25 | $6.1B | $12.3B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.3B | $12.4B | ||
| Q2 24 | $5.0B | — |
股东权益ARMKBLK
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $55.9B | ||
| Q3 25 | — | $55.5B | ||
| Q2 25 | $3.1B | $49.1B | ||
| Q1 25 | $3.0B | $48.0B | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.0B | $41.2B | ||
| Q2 24 | $2.9B | $40.3B |
总资产ARMKBLK
| Q1 26 | $13.5B | — | ||
| Q4 25 | $13.3B | $170.0B | ||
| Q3 25 | — | $162.7B | ||
| Q2 25 | $13.3B | $146.5B | ||
| Q1 25 | $13.5B | $141.9B | ||
| Q4 24 | $12.7B | — | ||
| Q3 24 | $12.7B | $132.8B | ||
| Q2 24 | $12.5B | — |
负债/权益比ARMKBLK
| Q1 26 | 1.94× | — | ||
| Q4 25 | 1.71× | 0.23× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | 2.03× | 0.26× | ||
| Q1 25 | 2.02× | 0.26× | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 1.42× | 0.30× | ||
| Q2 24 | 1.71× | — |
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 | $-782.2M | $2.3B |
| 自由现金流经营现金流 - 资本支出 | $-904.4M | $2.1B |
| 自由现金流率自由现金流/营收 | -18.7% | 30.6% |
| 资本支出强度资本支出/营收 | 2.5% | 1.9% |
| 现金转化率经营现金流/净利润 | -8.13× | 2.02× |
| 过去12个月自由现金流最近4个季度 | — | $3.6B |
8季度趋势，按日历期对齐
经营现金流ARMKBLK
| Q1 26 | $-782.2M | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $76.7M | $1.4B | ||
| Q1 25 | $255.9M | $-1.1B | ||
| Q4 24 | $-587.2M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $140.7M | — |
自由现金流ARMKBLK
| Q1 26 | $-904.4M | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $-34.7M | $1.3B | ||
| Q1 25 | $140.1M | $-1.2B | ||
| Q4 24 | $-707.0M | — | ||
| Q3 24 | $882.3M | — | ||
| Q2 24 | $55.6M | — |
自由现金流率ARMKBLK
| Q1 26 | -18.7% | — | ||
| Q4 25 | — | 30.6% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | -0.8% | 23.5% | ||
| Q1 25 | 3.3% | -22.9% | ||
| Q4 24 | -15.5% | — | ||
| Q3 24 | 20.0% | — | ||
| Q2 24 | 1.3% | — |
资本支出强度ARMKBLK
| Q1 26 | 2.5% | — | ||
| Q4 25 | 2.8% | 1.9% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | 2.4% | 1.6% | ||
| Q1 25 | 2.7% | 1.5% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 1.9% | — |
现金转化率ARMKBLK
| Q1 26 | -8.13× | — | ||
| Q4 25 | — | 2.02× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | 1.07× | 0.86× | ||
| Q1 25 | 4.14× | -0.75× | ||
| Q4 24 | -5.56× | — | ||
| Q3 24 | 8.35× | — | ||
| Q2 24 | 2.42× | — |
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
ARMK
| Education | $1.1B | 22% |
| Sports Leisure Corrections | $961.2M | 20% |
| Food And Support Services International | $847.8M | 18% |
| Other | $621.6M | 13% |
| Businessand Industry | $510.6M | 11% |
| Health Care | $421.3M | 9% |
| Facility Services | $382.9M | 8% |
BLK
| Investment Advice | $5.3B | 75% |
| Investment Performance | $754.0M | 11% |
| Technology Services And Subscription Revenue | $531.0M | 8% |
| Distribution And Shareholder Service | $359.0M | 5% |
| Service Other | $86.0M | 1% |
