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AXIS CAPITAL HOLDINGS LTD（AXS）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
AXIS CAPITAL HOLDINGS LTD的季度营收约是利氏兄弟拍卖行的1.4倍（$1.7B vs $1.2B），AXIS CAPITAL HOLDINGS LTD净利率更高（16.7% vs 9.1%，领先7.6%），AXIS CAPITAL HOLDINGS LTD同比增速更快（17.8% vs 5.4%），过去两年AXIS CAPITAL HOLDINGS LTD的营收复合增速更高（10.3% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
AXS vs RBA — 直观对比
营收规模更大
AXS
是对方的1.4倍
$1.2B
营收增速更快
AXS
高出12.4%
5.4%
净利率更高
AXS
高出7.6%
9.1%
两年增速更快
AXS
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $289.6M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 19.0% | 14.7% |
| 净利率 | 16.7% | 9.1% |
| 营收同比 | 17.8% | 5.4% |
| 净利润同比 | -1.4% | -7.4% |
| 每股收益（稀释后） | $3.63 | $0.53 |
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AXSRBA
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.6B | $981.8M | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $1.1B |
净利润AXSRBA
| Q4 25 | $289.6M | $109.7M | ||
| Q3 25 | $301.9M | $95.5M | ||
| Q2 25 | $223.4M | $109.8M | ||
| Q1 25 | $194.1M | $113.4M | ||
| Q4 24 | $293.6M | $118.5M | ||
| Q3 24 | $180.7M | $76.1M | ||
| Q2 24 | $212.0M | $111.1M | ||
| Q1 24 | $395.5M | $107.4M |
营业利润率AXSRBA
| Q4 25 | 19.0% | 14.7% | ||
| Q3 25 | 22.1% | 14.5% | ||
| Q2 25 | 17.2% | 15.9% | ||
| Q1 25 | 15.5% | 17.1% | ||
| Q4 24 | 18.6% | 18.1% | ||
| Q3 24 | 14.2% | 15.6% | ||
| Q2 24 | 17.4% | 18.4% | ||
| Q1 24 | 19.0% | 18.7% |
净利率AXSRBA
| Q4 25 | 16.7% | 9.1% | ||
| Q3 25 | 18.0% | 8.7% | ||
| Q2 25 | 13.7% | 9.3% | ||
| Q1 25 | 12.8% | 10.2% | ||
| Q4 24 | 20.0% | 10.4% | ||
| Q3 24 | 11.2% | 7.8% | ||
| Q2 24 | 14.6% | 10.1% | ||
| Q1 24 | 27.8% | 10.1% |
每股收益（稀释后）AXSRBA
| Q4 25 | $3.63 | $0.53 | ||
| Q3 25 | $3.74 | $0.43 | ||
| Q2 25 | $2.72 | $0.53 | ||
| Q1 25 | $2.26 | $0.55 | ||
| Q4 24 | $3.38 | $0.58 | ||
| Q3 24 | $2.04 | $0.36 | ||
| Q2 24 | $2.40 | $0.54 | ||
| Q1 24 | $4.53 | $0.53 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $6.4B | $5.6B |
| 总资产 | $34.5B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资AXSRBA
| Q4 25 | $820.3M | $531.5M | ||
| Q3 25 | $825.9M | $674.7M | ||
| Q2 25 | $852.1M | $710.2M | ||
| Q1 25 | $2.8B | $578.1M | ||
| Q4 24 | $2.1B | $533.9M | ||
| Q3 24 | $981.0M | $650.7M | ||
| Q2 24 | $1.1B | $599.5M | ||
| Q1 24 | $1.1B | $462.8M |
总债务AXSRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益AXSRBA
| Q4 25 | $6.4B | $5.6B | ||
| Q3 25 | $6.4B | $5.5B | ||
| Q2 25 | $6.2B | $5.5B | ||
| Q1 25 | $5.9B | $5.3B | ||
| Q4 24 | $6.1B | $5.2B | ||
| Q3 24 | $6.1B | $5.2B | ||
| Q2 24 | $5.7B | $5.2B | ||
| Q1 24 | $5.5B | $5.1B |
总资产AXSRBA
| Q4 25 | $34.5B | $12.1B | ||
| Q3 25 | $34.3B | $12.2B | ||
| Q2 25 | $34.2B | $12.2B | ||
| Q1 25 | $33.2B | $11.9B | ||
| Q4 24 | $32.5B | $11.8B | ||
| Q3 24 | $32.7B | $11.9B | ||
| Q2 24 | $32.1B | $12.1B | ||
| Q1 24 | $31.8B | $12.0B |
负债/权益比AXSRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | — | $186.5M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 5.7% |
| 现金转化率经营现金流/净利润 | 2.18× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流AXSRBA
| Q4 25 | $630.4M | $255.2M | ||
| Q3 25 | $673.8M | $239.7M | ||
| Q2 25 | $-1.7B | $326.5M | ||
| Q1 25 | $309.1M | $156.8M | ||
| Q4 24 | $355.5M | $184.5M | ||
| Q3 24 | $587.0M | $285.4M | ||
| Q2 24 | $518.1M | $337.3M | ||
| Q1 24 | $384.1M | $124.8M |
自由现金流AXSRBA
| Q4 25 | — | $186.5M | ||
| Q3 25 | — | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M | ||
| Q1 24 | — | $79.6M |
自由现金流率AXSRBA
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 7.5% |
资本支出强度AXSRBA
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 4.2% |
现金转化率AXSRBA
| Q4 25 | 2.18× | 2.33× | ||
| Q3 25 | 2.23× | 2.51× | ||
| Q2 25 | -7.41× | 2.97× | ||
| Q1 25 | 1.59× | 1.38× | ||
| Q4 24 | 1.21× | 1.56× | ||
| Q3 24 | 3.25× | 3.75× | ||
| Q2 24 | 2.44× | 3.04× | ||
| Q1 24 | 0.97× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
