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Accelerant Holdings（ARX）与CORVEL CORP（CRVL）财务数据对比。点击上方公司名可切换其他公司
Accelerant Holdings的季度营收约是CORVEL CORP的1.1倍（$267.4M vs $235.6M）。CORVEL CORP净利率更高（10.3% vs -511.9%，领先522.2%）
Accelerant Holdings是一家全球特种保险与再保险科技平台，依托先进数据分析和风险评估工具，为保险公司、总代理及承保合作伙伴提供定制化风险解决方案，优化承保流程，业务覆盖北美及欧洲的商业和特种保险领域。
Corvel Corp是一家总部位于美国的综合解决方案供应商，核心业务涵盖工伤赔偿、医疗管理与风险缓释，服务客户包括保险公司、自保雇主及公共部门机构，可帮助客户控制医疗成本、提升护理效果、优化行政运营流程。
ARX vs CRVL — 直观对比
营收规模更大
ARX
是对方的1.1倍
$235.6M
净利率更高
CRVL
高出522.2%
-511.9%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $267.4M | $235.6M |
| 净利润 | $-1.4B | $24.2M |
| 毛利率 | — | 23.3% |
| 营业利润率 | -507.7% | 13.7% |
| 净利率 | -511.9% | 10.3% |
| 营收同比 | — | 3.4% |
| 净利润同比 | — | 1.7% |
| 每股收益（稀释后） | $-6.99 | $0.47 |
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ARXCRVL
| Q4 25 | — | $235.6M | ||
| Q3 25 | $267.4M | $239.6M | ||
| Q2 25 | $219.1M | $234.7M | ||
| Q1 25 | — | $231.5M | ||
| Q4 24 | — | $228.0M | ||
| Q3 24 | — | $224.4M | ||
| Q2 24 | — | $211.7M | ||
| Q1 24 | — | $207.2M |
净利润ARXCRVL
| Q4 25 | — | $24.2M | ||
| Q3 25 | $-1.4B | $27.9M | ||
| Q2 25 | $8.8M | $27.2M | ||
| Q1 25 | — | $26.4M | ||
| Q4 24 | — | $23.8M | ||
| Q3 24 | — | $23.4M | ||
| Q2 24 | — | $21.6M | ||
| Q1 24 | — | $19.5M |
毛利率ARXCRVL
| Q4 25 | — | 23.3% | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 25.0% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 22.7% | ||
| Q1 24 | — | 20.9% |
营业利润率ARXCRVL
| Q4 25 | — | 13.7% | ||
| Q3 25 | -507.7% | 15.0% | ||
| Q2 25 | 10.2% | 15.0% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | 12.8% | ||
| Q2 24 | — | 13.2% | ||
| Q1 24 | — | 10.9% |
净利率ARXCRVL
| Q4 25 | — | 10.3% | ||
| Q3 25 | -511.9% | 11.6% | ||
| Q2 25 | 4.0% | 11.6% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | — | 10.4% | ||
| Q2 24 | — | 10.2% | ||
| Q1 24 | — | 9.4% |
每股收益（稀释后）ARXCRVL
| Q4 25 | — | $0.47 | ||
| Q3 25 | $-6.99 | $0.54 | ||
| Q2 25 | $0.04 | $0.52 | ||
| Q1 25 | — | $-1.23 | ||
| Q4 24 | — | $0.46 | ||
| Q3 24 | — | $1.35 | ||
| Q2 24 | — | $1.25 | ||
| Q1 24 | — | $1.12 |
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 | $1.6B | $230.0M |
| 总债务越低越好 | $121.9M | — |
| 股东权益账面价值 | $676.1M | $375.7M |
| 总资产 | $7.9B | $644.8M |
| 负债/权益比越低杠杆越低 | 0.18× | — |
8季度趋势，按日历期对齐
现金及短期投资ARXCRVL
| Q4 25 | — | $230.0M | ||
| Q3 25 | $1.6B | $207.5M | ||
| Q2 25 | $1.4B | $202.0M | ||
| Q1 25 | — | $170.6M | ||
| Q4 24 | — | $162.9M | ||
| Q3 24 | — | $138.3M | ||
| Q2 24 | — | $131.9M | ||
| Q1 24 | — | $105.6M |
总债务ARXCRVL
| Q4 25 | — | — | ||
| Q3 25 | $121.9M | — | ||
| Q2 25 | $126.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ARXCRVL
| Q4 25 | — | $375.7M | ||
| Q3 25 | $676.1M | $362.8M | ||
| Q2 25 | $346.2M | $342.5M | ||
| Q1 25 | — | $322.0M | ||
| Q4 24 | — | $300.9M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $263.9M | ||
| Q1 24 | — | $247.6M |
总资产ARXCRVL
| Q4 25 | — | $644.8M | ||
| Q3 25 | $7.9B | $611.7M | ||
| Q2 25 | $7.5B | $597.4M | ||
| Q1 25 | — | $546.0M | ||
| Q4 24 | — | $538.8M | ||
| Q3 24 | — | $518.6M | ||
| Q2 24 | — | $486.2M | ||
| Q1 24 | — | $454.7M |
负债/权益比ARXCRVL
| Q4 25 | — | — | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.37× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $73.9M | $46.1M |
| 自由现金流经营现金流 - 资本支出 | — | $35.2M |
| 自由现金流率自由现金流/营收 | — | 14.9% |
| 资本支出强度资本支出/营收 | — | 4.7% |
| 现金转化率经营现金流/净利润 | — | 1.91× |
| 过去12个月自由现金流最近4个季度 | — | $104.3M |
8季度趋势，按日历期对齐
经营现金流ARXCRVL
| Q4 25 | — | $46.1M | ||
| Q3 25 | $73.9M | $25.0M | ||
| Q2 25 | $309.3M | $55.0M | ||
| Q1 25 | — | $22.9M | ||
| Q4 24 | — | $41.6M | ||
| Q3 24 | — | $22.3M | ||
| Q2 24 | — | $40.4M | ||
| Q1 24 | — | $15.2M |
自由现金流ARXCRVL
| Q4 25 | — | $35.2M | ||
| Q3 25 | — | $15.3M | ||
| Q2 25 | — | $39.5M | ||
| Q1 25 | — | $14.3M | ||
| Q4 24 | — | $32.1M | ||
| Q3 24 | — | $12.4M | ||
| Q2 24 | — | $32.8M | ||
| Q1 24 | — | $5.2M |
自由现金流率ARXCRVL
| Q4 25 | — | 14.9% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 14.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 2.5% |
资本支出强度ARXCRVL
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.6% | ||
| Q1 24 | — | 4.8% |
现金转化率ARXCRVL
| Q4 25 | — | 1.91× | ||
| Q3 25 | — | 0.90× | ||
| Q2 25 | 35.15× | 2.02× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 1.75× | ||
| Q3 24 | — | 0.95× | ||
| Q2 24 | — | 1.87× | ||
| Q1 24 | — | 0.78× |
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
ARX
| Underwriting Segment | $117.6M | 44% |
| Exchange Services Segment | $85.0M | 32% |
| Other | $64.8M | 24% |
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
