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AXIS CAPITAL HOLDINGS LTD（AXS）与GLOBAL PARTNERS LP（GLP）财务数据对比。点击上方公司名可切换其他公司
GLOBAL PARTNERS LP的季度营收约是AXIS CAPITAL HOLDINGS LTD的1.3倍（$2.2B vs $1.7B），AXIS CAPITAL HOLDINGS LTD净利率更高（16.7% vs 1.1%，领先15.6%），AXIS CAPITAL HOLDINGS LTD同比增速更快（17.8% vs 7.0%），过去两年AXIS CAPITAL HOLDINGS LTD的营收复合增速更高（10.3% vs 0.2%）
AXIS资本控股有限公司是AXIS集团的控股主体，通过百慕大、美国、加拿大、欧洲及新加坡的子公司与分支机构网络，提供各类风险转移产品及服务。保险业务覆盖财产、职业责任、恐怖主义、航运、能源、环境等领域，再保险业务包含财产、职业责任、信用债券等品类。
Global Partners LP是一家美国能源供应企业，2018年位列《财富》世界500强第361位，采用业主有限合伙制架构，核心业务为石油产品进口，深耕北美市场开展营销活动，批发的产品涵盖原油、柴油、汽油、取暖油及煤油等品类。
AXS vs GLP — 直观对比
营收规模更大
GLP
是对方的1.3倍
$1.7B
营收增速更快
AXS
高出10.9%
7.0%
净利率更高
AXS
高出15.6%
1.1%
两年增速更快
AXS
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.2B |
| 净利润 | $289.6M | $25.1M |
| 毛利率 | — | 11.9% |
| 营业利润率 | 19.0% | 2.6% |
| 净利率 | 16.7% | 1.1% |
| 营收同比 | 17.8% | 7.0% |
| 净利润同比 | -1.4% | 5.0% |
| 每股收益（稀释后） | $3.63 | — |
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AXSGLP
| Q4 25 | $1.7B | $2.2B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.6B | $2.1B | ||
| Q1 25 | $1.5B | $2.2B | ||
| Q4 24 | $1.5B | $2.1B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.5B | $2.3B | ||
| Q1 24 | $1.4B | $2.2B |
净利润AXSGLP
| Q4 25 | $289.6M | $25.1M | ||
| Q3 25 | $301.9M | $29.0M | ||
| Q2 25 | $223.4M | $25.2M | ||
| Q1 25 | $194.1M | $18.7M | ||
| Q4 24 | $293.6M | $23.9M | ||
| Q3 24 | $180.7M | $45.9M | ||
| Q2 24 | $212.0M | $46.1M | ||
| Q1 24 | $395.5M | $-5.6M |
毛利率AXSGLP
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 13.1% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 9.8% |
营业利润率AXSGLP
| Q4 25 | 19.0% | 2.6% | ||
| Q3 25 | 22.1% | 2.7% | ||
| Q2 25 | 17.2% | 2.9% | ||
| Q1 25 | 15.5% | 2.6% | ||
| Q4 24 | 18.6% | 2.8% | ||
| Q3 24 | 14.2% | 3.9% | ||
| Q2 24 | 17.4% | 3.7% | ||
| Q1 24 | 19.0% | 1.2% |
净利率AXSGLP
| Q4 25 | 16.7% | 1.1% | ||
| Q3 25 | 18.0% | 1.3% | ||
| Q2 25 | 13.7% | 1.2% | ||
| Q1 25 | 12.8% | 0.9% | ||
| Q4 24 | 20.0% | 1.2% | ||
| Q3 24 | 11.2% | 2.1% | ||
| Q2 24 | 14.6% | 2.0% | ||
| Q1 24 | 27.8% | -0.3% |
每股收益（稀释后）AXSGLP
| Q4 25 | $3.63 | — | ||
| Q3 25 | $3.74 | — | ||
| Q2 25 | $2.72 | — | ||
| Q1 25 | $2.26 | — | ||
| Q4 24 | $3.38 | — | ||
| Q3 24 | $2.04 | — | ||
| Q2 24 | $2.40 | — | ||
| Q1 24 | $4.53 | — |
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 | $820.3M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | — |
| 总资产 | $34.5B | $3.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AXSGLP
| Q4 25 | $820.3M | — | ||
| Q3 25 | $825.9M | — | ||
| Q2 25 | $852.1M | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $981.0M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
股东权益AXSGLP
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.2B | — | ||
| Q1 25 | $5.9B | — | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.1B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.5B | — |
总资产AXSGLP
| Q4 25 | $34.5B | $3.9B | ||
| Q3 25 | $34.3B | $3.7B | ||
| Q2 25 | $34.2B | $3.8B | ||
| Q1 25 | $33.2B | $3.8B | ||
| Q4 24 | $32.5B | $3.8B | ||
| Q3 24 | $32.7B | $3.7B | ||
| Q2 24 | $32.1B | $3.8B | ||
| Q1 24 | $31.8B | $3.5B |
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 | $630.4M | $101.0M |
| 自由现金流经营现金流 - 资本支出 | — | $62.2M |
| 自由现金流率自由现金流/营收 | — | 2.8% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 2.18× | 4.03× |
| 过去12个月自由现金流最近4个季度 | — | $193.3M |
8季度趋势，按日历期对齐
经营现金流AXSGLP
| Q4 25 | $630.4M | $101.0M | ||
| Q3 25 | $673.8M | $19.0M | ||
| Q2 25 | $-1.7B | $216.3M | ||
| Q1 25 | $309.1M | $-51.6M | ||
| Q4 24 | $355.5M | $67.2M | ||
| Q3 24 | $587.0M | $122.7M | ||
| Q2 24 | $518.1M | $24.3M | ||
| Q1 24 | $384.1M | $-182.7M |
自由现金流AXSGLP
| Q4 25 | — | $62.2M | ||
| Q3 25 | — | $-678.0K | ||
| Q2 25 | — | $201.3M | ||
| Q1 25 | — | $-69.5M | ||
| Q4 24 | — | $20.4M | ||
| Q3 24 | — | $98.4M | ||
| Q2 24 | — | $8.7M | ||
| Q1 24 | — | $-199.3M |
自由现金流率AXSGLP
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | -0.0% | ||
| Q2 25 | — | 9.7% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -9.0% |
资本支出强度AXSGLP
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
现金转化率AXSGLP
| Q4 25 | 2.18× | 4.03× | ||
| Q3 25 | 2.23× | 0.66× | ||
| Q2 25 | -7.41× | 8.58× | ||
| Q1 25 | 1.59× | -2.76× | ||
| Q4 24 | 1.21× | 2.82× | ||
| Q3 24 | 3.25× | 2.67× | ||
| Q2 24 | 2.44× | 0.53× | ||
| Q1 24 | 0.97× | — |
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
AXS
| Reinsurance | $1.4B | 82% |
| Other | $311.3M | 18% |
GLP
| Gasoline | $1.0B | 46% |
| Refined Petroleum Products Renewable Fuels Crude Oil And Propane | $884.7M | 40% |
| Commercial Segment | $187.6M | 8% |
| Station Operations | $110.5M | 5% |
