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Athene Holding Ltd.（ATHS）与美国再保险集团（RGA）财务数据对比。点击上方公司名可切换其他公司
Athene Holding Ltd.的季度营收约是美国再保险集团的1.2倍（$8.1B vs $6.6B）。美国再保险集团净利率更高（7.0% vs 6.4%，领先0.5%）。Athene Holding Ltd.同比增速更快（115.1% vs 26.6%）。过去两年Athene Holding Ltd.的营收复合增速更高（19.2% vs 2.3%）
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。
美国再保险集团（RGA）是总部位于美国密苏里州大圣路易斯地区西郊切斯特菲尔德的全球人寿与健康再保险控股集团。截至2024年12月31日，集团有效人寿再保额约3.9万亿美元，总资产达1187亿美元，是全球唯一主营人寿及健康相关再保险业务的国际企业。
ATHS vs RGA — 直观对比
营收规模更大
ATHS
是对方的1.2倍
$6.6B
营收增速更快
ATHS
高出88.5%
26.6%
净利率更高
RGA
高出0.5%
6.4%
两年增速更快
ATHS
近两年复合增速
2.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $8.1B | $6.6B |
| 净利润 | $523.0M | $463.0M |
| 毛利率 | — | — |
| 营业利润率 | 16.9% | 7.7% |
| 净利率 | 6.4% | 7.0% |
| 营收同比 | 115.1% | 26.6% |
| 净利润同比 | -48.5% | 212.8% |
| 每股收益（稀释后） | — | $6.91 |
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ATHSRGA
| Q4 25 | $8.1B | $6.6B | ||
| Q3 25 | $8.0B | $6.2B | ||
| Q2 25 | $5.4B | $5.6B | ||
| Q1 25 | $4.2B | $5.3B | ||
| Q4 24 | $3.8B | $5.2B | ||
| Q3 24 | $6.5B | $5.7B | ||
| Q2 24 | $4.7B | $4.9B | ||
| Q1 24 | $5.7B | $6.3B |
净利润ATHSRGA
| Q4 25 | $523.0M | $463.0M | ||
| Q3 25 | $1.3B | $253.0M | ||
| Q2 25 | $464.0M | $180.0M | ||
| Q1 25 | $465.0M | $286.0M | ||
| Q4 24 | $1.0B | $148.0M | ||
| Q3 24 | $625.0M | $156.0M | ||
| Q2 24 | $629.0M | $203.0M | ||
| Q1 24 | $1.2B | $210.0M |
营业利润率ATHSRGA
| Q4 25 | 16.9% | 7.7% | ||
| Q3 25 | 26.8% | 5.2% | ||
| Q2 25 | 12.2% | 6.1% | ||
| Q1 25 | 22.3% | 7.0% | ||
| Q4 24 | 30.4% | 4.3% | ||
| Q3 24 | 25.7% | 3.8% | ||
| Q2 24 | 22.0% | 5.5% | ||
| Q1 24 | 31.1% | 4.3% |
净利率ATHSRGA
| Q4 25 | 6.4% | 7.0% | ||
| Q3 25 | 15.7% | 4.1% | ||
| Q2 25 | 8.7% | 3.2% | ||
| Q1 25 | 11.1% | 5.4% | ||
| Q4 24 | 26.8% | 2.8% | ||
| Q3 24 | 9.6% | 2.8% | ||
| Q2 24 | 13.5% | 4.2% | ||
| Q1 24 | 20.8% | 3.3% |
每股收益（稀释后）ATHSRGA
| Q4 25 | — | $6.91 | ||
| Q3 25 | — | $3.81 | ||
| Q2 25 | — | $2.70 | ||
| Q1 25 | — | $4.27 | ||
| Q4 24 | — | $2.21 | ||
| Q3 24 | — | $2.33 | ||
| Q2 24 | — | $3.03 | ||
| Q1 24 | — | $3.16 |
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 | — | $4.2B |
| 总债务越低越好 | $7.8B | $5.7B |
| 股东权益账面价值 | $20.5B | $13.5B |
| 总资产 | $442.2B | $156.6B |
| 负债/权益比越低杠杆越低 | 0.38× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ATHSRGA
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.6B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.2B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $4.6B | ||
| Q1 24 | $15.3B | $5.9B |
总债务ATHSRGA
| Q4 25 | $7.8B | $5.7B | ||
| Q3 25 | $7.9B | $5.7B | ||
| Q2 25 | $7.9B | $5.7B | ||
| Q1 25 | $6.3B | $5.7B | ||
| Q4 24 | $6.3B | $5.0B | ||
| Q3 24 | $5.7B | $5.1B | ||
| Q2 24 | $5.7B | $5.1B | ||
| Q1 24 | $5.7B | $4.4B |
股东权益ATHSRGA
| Q4 25 | $20.5B | $13.5B | ||
| Q3 25 | $20.4B | $13.0B | ||
| Q2 25 | $18.1B | $12.1B | ||
| Q1 25 | $17.5B | $11.4B | ||
| Q4 24 | $16.4B | $10.8B | ||
| Q3 24 | $17.4B | $11.1B | ||
| Q2 24 | $15.0B | $9.7B | ||
| Q1 24 | $14.8B | $9.5B |
总资产ATHSRGA
| Q4 25 | $442.2B | $156.6B | ||
| Q3 25 | $429.9B | $152.0B | ||
| Q2 25 | $405.3B | $133.5B | ||
| Q1 25 | $381.5B | $128.2B | ||
| Q4 24 | $363.3B | $118.7B | ||
| Q3 24 | $355.0B | $120.3B | ||
| Q2 24 | $332.6B | $109.9B | ||
| Q1 24 | $320.6B | $106.0B |
负债/权益比ATHSRGA
| Q4 25 | 0.38× | 0.42× | ||
| Q3 25 | 0.38× | 0.44× | ||
| Q2 25 | 0.43× | 0.48× | ||
| Q1 25 | 0.36× | 0.50× | ||
| Q4 24 | 0.39× | 0.47× | ||
| Q3 24 | 0.33× | 0.46× | ||
| Q2 24 | 0.38× | 0.52× | ||
| Q1 24 | 0.39× | 0.47× |
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 | $7.3B |
| 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× | 15.83× |
| 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ATHSRGA
| Q4 25 | $3.0B | $7.3B | ||
| Q3 25 | $636.0M | $-990.0M | ||
| Q2 25 | $1.1B | $-820.0M | ||
| Q1 25 | $426.0M | $-1.4B | ||
| Q4 24 | $386.0M | $17.1B | ||
| Q3 24 | $780.0M | $-1.1B | ||
| Q2 24 | $525.0M | $-967.0M | ||
| Q1 24 | $185.0M | $-5.7B |
现金转化率ATHSRGA
| Q4 25 | 5.82× | 15.83× | ||
| Q3 25 | 0.51× | -3.91× | ||
| Q2 25 | 2.28× | -4.56× | ||
| Q1 25 | 0.92× | -5.00× | ||
| Q4 24 | 0.38× | 115.81× | ||
| Q3 24 | 1.25× | -6.84× | ||
| Q2 24 | 0.83× | -4.76× | ||
| Q1 24 | 0.16× | -27.31× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
