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Athene Holding Ltd.（ATHS）与LINCOLN NATIONAL CORP（LNC）财务数据对比。点击上方公司名可切换其他公司
Athene Holding Ltd.的季度营收约是LINCOLN NATIONAL CORP的1.7倍（$8.1B vs $4.9B）。LINCOLN NATIONAL CORP净利率更高（15.3% vs 6.4%，领先8.9%）。Athene Holding Ltd.同比增速更快（115.1% vs -2.8%）。过去两年Athene Holding Ltd.的营收复合增速更高（19.2% vs 9.4%）
Athene Holding Ltd.是一家领先的退休服务提供商，主要面向美国市场的个人消费者及机构客户提供固定年金、指数年金、可变年金及定制退休储蓄解决方案，帮助客户实现退休后的长期财务稳定。
林肯国民公司是美国财富200强控股企业，通过旗下多家子公司开展保险、投资管理等多元金融业务，“林肯金融集团”是该公司及其所有子公司共同使用的市场推广品牌名称。
ATHS vs LNC — 直观对比
营收规模更大
ATHS
是对方的1.7倍
$4.9B
营收增速更快
ATHS
高出117.8%
-2.8%
净利率更高
LNC
高出8.9%
6.4%
两年增速更快
ATHS
近两年复合增速
9.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $8.1B | $4.9B |
| 净利润 | $523.0M | $755.0M |
| 毛利率 | — | — |
| 营业利润率 | 16.9% | 18.6% |
| 净利率 | 6.4% | 15.3% |
| 营收同比 | 115.1% | -2.8% |
| 净利润同比 | -48.5% | -55.2% |
| 每股收益（稀释后） | — | $4.32 |
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ATHSLNC
| Q4 25 | $8.1B | $4.9B | ||
| Q3 25 | $8.0B | $4.6B | ||
| Q2 25 | $5.4B | $4.0B | ||
| Q1 25 | $4.2B | $4.7B | ||
| Q4 24 | $3.8B | $5.1B | ||
| Q3 24 | $6.5B | $4.1B | ||
| Q2 24 | $4.7B | $5.2B | ||
| Q1 24 | $5.7B | $4.1B |
净利润ATHSLNC
| Q4 25 | $523.0M | $755.0M | ||
| Q3 25 | $1.3B | $445.0M | ||
| Q2 25 | $464.0M | $699.0M | ||
| Q1 25 | $465.0M | $-722.0M | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $625.0M | $-528.0M | ||
| Q2 24 | $629.0M | $895.0M | ||
| Q1 24 | $1.2B | $1.2B |
营业利润率ATHSLNC
| Q4 25 | 16.9% | 18.6% | ||
| Q3 25 | 26.8% | 11.5% | ||
| Q2 25 | 12.2% | 21.0% | ||
| Q1 25 | 22.3% | -20.2% | ||
| Q4 24 | 30.4% | 41.5% | ||
| Q3 24 | 25.7% | -17.1% | ||
| Q2 24 | 22.0% | 21.3% | ||
| Q1 24 | 31.1% | 37.1% |
净利率ATHSLNC
| Q4 25 | 6.4% | 15.3% | ||
| Q3 25 | 15.7% | 9.8% | ||
| Q2 25 | 8.7% | 17.3% | ||
| Q1 25 | 11.1% | -15.4% | ||
| Q4 24 | 26.8% | 33.3% | ||
| Q3 24 | 9.6% | -12.8% | ||
| Q2 24 | 13.5% | 17.4% | ||
| Q1 24 | 20.8% | 29.7% |
每股收益（稀释后）ATHSLNC
| Q4 25 | — | $4.32 | ||
| Q3 25 | — | $2.12 | ||
| Q2 25 | — | $3.80 | ||
| Q1 25 | — | $-4.41 | ||
| Q4 24 | — | $9.66 | ||
| Q3 24 | — | $-3.29 | ||
| Q2 24 | — | $5.11 | ||
| Q1 24 | — | $6.93 |
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 | $7.8B | $6.3B |
| 股东权益账面价值 | $20.5B | $10.9B |
| 总资产 | $442.2B | $417.2B |
| 负债/权益比越低杠杆越低 | 0.38× | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资ATHSLNC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $15.3B | — |
总债务ATHSLNC
| Q4 25 | $7.8B | $6.3B | ||
| Q3 25 | $7.9B | $5.8B | ||
| Q2 25 | $7.9B | $5.8B | ||
| Q1 25 | $6.3B | $5.9B | ||
| Q4 24 | $6.3B | $6.1B | ||
| Q3 24 | $5.7B | $5.9B | ||
| Q2 24 | $5.7B | $5.7B | ||
| Q1 24 | $5.7B | $5.7B |
股东权益ATHSLNC
| Q4 25 | $20.5B | $10.9B | ||
| Q3 25 | $20.4B | $10.5B | ||
| Q2 25 | $18.1B | $9.5B | ||
| Q1 25 | $17.5B | $8.2B | ||
| Q4 24 | $16.4B | $8.3B | ||
| Q3 24 | $17.4B | $9.0B | ||
| Q2 24 | $15.0B | $7.9B | ||
| Q1 24 | $14.8B | $7.5B |
总资产ATHSLNC
| Q4 25 | $442.2B | $417.2B | ||
| Q3 25 | $429.9B | $415.3B | ||
| Q2 25 | $405.3B | $399.1B | ||
| Q1 25 | $381.5B | $382.9B | ||
| Q4 24 | $363.3B | $390.8B | ||
| Q3 24 | $355.0B | $396.8B | ||
| Q2 24 | $332.6B | $384.5B | ||
| Q1 24 | $320.6B | $383.4B |
负债/权益比ATHSLNC
| Q4 25 | 0.38× | 0.57× | ||
| Q3 25 | 0.38× | 0.55× | ||
| Q2 25 | 0.43× | 0.60× | ||
| Q1 25 | 0.36× | 0.72× | ||
| Q4 24 | 0.39× | 0.74× | ||
| Q3 24 | 0.33× | 0.65× | ||
| Q2 24 | 0.38× | 0.72× | ||
| Q1 24 | 0.39× | 0.76× |
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 | $3.0B | $233.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 5.82× | 0.31× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ATHSLNC
| Q4 25 | $3.0B | $233.0M | ||
| Q3 25 | $636.0M | $-1.1B | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $426.0M | $-272.0M | ||
| Q4 24 | $386.0M | $222.0M | ||
| Q3 24 | $780.0M | $-27.0M | ||
| Q2 24 | $525.0M | $-859.0M | ||
| Q1 24 | $185.0M | $-1.3B |
现金转化率ATHSLNC
| Q4 25 | 5.82× | 0.31× | ||
| Q3 25 | 0.51× | -2.56× | ||
| Q2 25 | 2.28× | 1.45× | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | 0.38× | 0.13× | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 0.83× | -0.96× | ||
| Q1 24 | 0.16× | -1.10× |
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
ATHS
暂无分部数据
LNC
| Life Segment | $1.6B | 33% |
| Group Protection Segment | $1.5B | 31% |
| Annuities Segment | $1.3B | 27% |
| Other | $435.0M | 9% |
