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AXIS CAPITAL HOLDINGS LTD（AXS）与MAXIMUS, INC.（MMS）财务数据对比。点击上方公司名可切换其他公司
AXIS CAPITAL HOLDINGS LTD的季度营收约是MAXIMUS, INC.的1.3倍（$1.7B vs $1.3B），AXIS CAPITAL HOLDINGS LTD净利率更高（16.7% vs 7.0%，领先9.7%），AXIS CAPITAL HOLDINGS LTD同比增速更快（17.8% vs -4.1%），过去两年AXIS CAPITAL HOLDINGS LTD的营收复合增速更高（10.3% vs -0.1%）
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。
MAXIMUS是美国一家政府服务企业，业务覆盖美国、加拿大、英国等国家，为医疗补助、联邦医疗保险、医改、就业帮扶、学生贷款服务等各类政府项目提供行政及配套服务。公司总部位于弗吉尼亚州泰森斯，现有员工3.96万名，2024财年营收达53亿美元。
AXS vs MMS — 直观对比
营收规模更大
AXS
是对方的1.3倍
$1.3B
营收增速更快
AXS
高出22.0%
-4.1%
净利率更高
AXS
高出9.7%
7.0%
两年增速更快
AXS
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.3B |
| 净利润 | $289.6M | $93.9M |
| 毛利率 | — | 23.7% |
| 营业利润率 | 19.0% | 10.9% |
| 净利率 | 16.7% | 7.0% |
| 营收同比 | 17.8% | -4.1% |
| 净利润同比 | -1.4% | 128.0% |
| 每股收益（稀释后） | $3.63 | $1.70 |
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AXSMMS
| Q4 25 | $1.7B | $1.3B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.4B | $1.3B |
净利润AXSMMS
| Q4 25 | $289.6M | $93.9M | ||
| Q3 25 | $301.9M | $75.3M | ||
| Q2 25 | $223.4M | $106.0M | ||
| Q1 25 | $194.1M | $96.6M | ||
| Q4 24 | $293.6M | $41.2M | ||
| Q3 24 | $180.7M | $72.5M | ||
| Q2 24 | $212.0M | $89.8M | ||
| Q1 24 | $395.5M | $80.5M |
毛利率AXSMMS
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 25.3% | ||
| Q2 25 | — | 26.7% | ||
| Q1 25 | — | 24.9% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | — | 22.9% | ||
| Q2 24 | — | 25.3% | ||
| Q1 24 | — | 23.6% |
营业利润率AXSMMS
| Q4 25 | 19.0% | 10.9% | ||
| Q3 25 | 22.1% | 9.3% | ||
| Q2 25 | 17.2% | 12.3% | ||
| Q1 25 | 15.5% | 11.2% | ||
| Q4 24 | 18.6% | 6.2% | ||
| Q3 24 | 14.2% | 8.5% | ||
| Q2 24 | 17.4% | 10.8% | ||
| Q1 24 | 19.0% | 9.5% |
净利率AXSMMS
| Q4 25 | 16.7% | 7.0% | ||
| Q3 25 | 18.0% | 5.7% | ||
| Q2 25 | 13.7% | 7.9% | ||
| Q1 25 | 12.8% | 7.1% | ||
| Q4 24 | 20.0% | 2.9% | ||
| Q3 24 | 11.2% | 5.5% | ||
| Q2 24 | 14.6% | 6.8% | ||
| Q1 24 | 27.8% | 6.0% |
每股收益（稀释后）AXSMMS
| Q4 25 | $3.63 | $1.70 | ||
| Q3 25 | $3.74 | $1.27 | ||
| Q2 25 | $2.72 | $1.86 | ||
| Q1 25 | $2.26 | $1.69 | ||
| Q4 24 | $3.38 | $0.69 | ||
| Q3 24 | $2.04 | $1.18 | ||
| Q2 24 | $2.40 | $1.46 | ||
| Q1 24 | $4.53 | $1.31 |
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 | $137.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $1.7B |
| 总资产 | $34.5B | $4.2B |
| 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AXSMMS
| Q4 25 | $820.3M | $137.6M | ||
| Q3 25 | $825.9M | $222.4M | ||
| Q2 25 | $852.1M | $59.8M | ||
| Q1 25 | $2.8B | $108.1M | ||
| Q4 24 | $2.1B | $72.7M | ||
| Q3 24 | $981.0M | $183.1M | ||
| Q2 24 | $1.1B | $102.8M | ||
| Q1 24 | $1.1B | $77.4M |
股东权益AXSMMS
| Q4 25 | $6.4B | $1.7B | ||
| Q3 25 | $6.4B | $1.7B | ||
| Q2 25 | $6.2B | $1.8B | ||
| Q1 25 | $5.9B | $1.7B | ||
| Q4 24 | $6.1B | $1.6B | ||
| Q3 24 | $6.1B | $1.8B | ||
| Q2 24 | $5.7B | $1.8B | ||
| Q1 24 | $5.5B | $1.8B |
总资产AXSMMS
| Q4 25 | $34.5B | $4.2B | ||
| Q3 25 | $34.3B | $4.1B | ||
| Q2 25 | $34.2B | $4.5B | ||
| Q1 25 | $33.2B | $4.2B | ||
| Q4 24 | $32.5B | $4.1B | ||
| Q3 24 | $32.7B | $4.1B | ||
| Q2 24 | $32.1B | $4.0B | ||
| Q1 24 | $31.8B | $4.0B |
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 | $-244.4M |
| 自由现金流经营现金流 - 资本支出 | — | $-250.7M |
| 自由现金流率自由现金流/营收 | — | -18.6% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 2.18× | -2.60× |
| 过去12个月自由现金流最近4个季度 | — | $218.5M |
8季度趋势，按日历期对齐
经营现金流AXSMMS
| Q4 25 | $630.4M | $-244.4M | ||
| Q3 25 | $673.8M | $649.4M | ||
| Q2 25 | $-1.7B | $-182.7M | ||
| Q1 25 | $309.1M | $42.7M | ||
| Q4 24 | $355.5M | $-80.0M | ||
| Q3 24 | $587.0M | $163.8M | ||
| Q2 24 | $518.1M | $199.3M | ||
| Q1 24 | $384.1M | $130.5M |
自由现金流AXSMMS
| Q4 25 | — | $-250.7M | ||
| Q3 25 | — | $641.8M | ||
| Q2 25 | — | $-198.2M | ||
| Q1 25 | — | $25.5M | ||
| Q4 24 | — | $-103.0M | ||
| Q3 24 | — | $131.9M | ||
| Q2 24 | — | $164.6M | ||
| Q1 24 | — | $105.2M |
自由现金流率AXSMMS
| Q4 25 | — | -18.6% | ||
| Q3 25 | — | 48.7% | ||
| Q2 25 | — | -14.7% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | -7.3% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | 7.8% |
资本支出强度AXSMMS
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 1.9% |
现金转化率AXSMMS
| Q4 25 | 2.18× | -2.60× | ||
| Q3 25 | 2.23× | 8.63× | ||
| Q2 25 | -7.41× | -1.72× | ||
| Q1 25 | 1.59× | 0.44× | ||
| Q4 24 | 1.21× | -1.94× | ||
| Q3 24 | 3.25× | 2.26× | ||
| Q2 24 | 2.44× | 2.22× | ||
| Q1 24 | 0.97× | 1.62× |
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% |
MMS
| Clinical Services | $523.7M | 39% |
| Cost Plus Contracts | $386.4M | 29% |
| Outside The United States | $143.2M | 11% |
| International Government Agencies | $141.0M | 10% |
| Technology Solutions | $74.8M | 6% |
| Employment And Other | $70.2M | 5% |
| Other Including Local Municipalities And Commercial Customers | $17.6M | 1% |
