vs
博思艾伦汉密尔顿（BAH）与标普全球（VG）财务数据对比。点击上方公司名可切换其他公司
标普全球的季度营收约是博思艾伦汉密尔顿的1.7倍（$4.4B vs $2.6B），标普全球净利率更高（26.8% vs 7.6%，领先19.2%），标普全球同比增速更快（191.7% vs -10.2%），博思艾伦汉密尔顿自由现金流更多（$248.0M vs $-1.5B），过去两年标普全球的营收复合增速更高（77.3% vs -2.8%）
博思艾伦汉密尔顿控股集团是美国知名专业服务企业，深耕数字化转型与人工智能领域，为公共部门、私营机构及非营利组织提供咨询、分析与工程服务，总部位于弗吉尼亚州麦克莱恩，属华盛顿大都会区，在全球另设有80个办事处。
标普全球是总部位于美国纽约曼哈顿的上市企业，核心业务涵盖金融信息与数据分析、能源及大宗商品情报服务，旗下拥有标普全球评级、标普全球能源、标普全球市场财智、印度信用评级机构CRISIL等子品牌，同时是标普道琼斯指数合资公司的控股股东。
BAH vs VG — 直观对比
营收规模更大
VG
是对方的1.7倍
$2.6B
营收增速更快
VG
高出201.9%
-10.2%
净利率更高
VG
高出19.2%
7.6%
自由现金流更多
BAH
多$1.8B
$-1.5B
两年增速更快
VG
近两年复合增速
-2.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $4.4B |
| 净利润 | $200.0M | $1.2B |
| 毛利率 | 51.9% | — |
| 营业利润率 | 8.8% | 38.7% |
| 净利率 | 7.6% | 26.8% |
| 营收同比 | -10.2% | 191.7% |
| 净利润同比 | 7.0% | 20.3% |
| 每股收益（稀释后） | $1.63 | $0.41 |
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BAHVG
| Q4 25 | $2.6B | $4.4B | ||
| Q3 25 | $2.9B | $3.3B | ||
| Q2 25 | $2.9B | $3.1B | ||
| Q1 25 | $3.0B | $2.9B | ||
| Q4 24 | $2.9B | $1.5B | ||
| Q3 24 | $3.1B | $926.0M | ||
| Q2 24 | $2.9B | $1.1B | ||
| Q1 24 | $2.8B | $1.4B |
净利润BAHVG
| Q4 25 | $200.0M | $1.2B | ||
| Q3 25 | $175.0M | $550.0M | ||
| Q2 25 | $271.0M | $475.0M | ||
| Q1 25 | $192.7M | $517.0M | ||
| Q4 24 | $186.9M | $990.0M | ||
| Q3 24 | $390.1M | $-294.0M | ||
| Q2 24 | $165.2M | $352.0M | ||
| Q1 24 | $128.0M | $698.0M |
毛利率BAHVG
| Q4 25 | 51.9% | — | ||
| Q3 25 | 53.6% | — | ||
| Q2 25 | 51.3% | — | ||
| Q1 25 | 53.6% | — | ||
| Q4 24 | 55.2% | — | ||
| Q3 24 | 56.7% | — | ||
| Q2 24 | 53.4% | — | ||
| Q1 24 | 54.7% | — |
营业利润率BAHVG
| Q4 25 | 8.8% | 38.7% | ||
| Q3 25 | 9.8% | 39.7% | ||
| Q2 25 | 8.8% | 33.5% | ||
| Q1 25 | 9.2% | 37.3% | ||
| Q4 24 | 10.0% | 39.0% | ||
| Q3 24 | 17.4% | 20.4% | ||
| Q2 24 | 8.7% | 32.8% | ||
| Q1 24 | 9.5% | 43.6% |
净利率BAHVG
| Q4 25 | 7.6% | 26.8% | ||
| Q3 25 | 6.1% | 16.5% | ||
| Q2 25 | 9.3% | 15.3% | ||
| Q1 25 | 6.5% | 17.9% | ||
| Q4 24 | 6.4% | 65.0% | ||
| Q3 24 | 12.4% | -31.7% | ||
| Q2 24 | 5.6% | 31.8% | ||
| Q1 24 | 4.6% | 49.4% |
每股收益（稀释后）BAHVG
| Q4 25 | $1.63 | $0.41 | ||
| Q3 25 | $1.42 | $0.16 | ||
| Q2 25 | $2.16 | $0.14 | ||
| Q1 25 | $1.52 | $0.15 | ||
| Q4 24 | $1.45 | $0.35 | ||
| Q3 24 | $3.01 | $-0.15 | ||
| Q2 24 | $1.27 | $0.12 | ||
| Q1 24 | $0.97 | $0.25 |
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 | $882.0M | $2.4B |
| 总债务越低越好 | $3.9B | $34.2B |
| 股东权益账面价值 | $1.0B | $6.7B |
| 总资产 | $7.1B | $53.4B |
| 负债/权益比越低杠杆越低 | 3.84× | 5.07× |
8季度趋势，按日历期对齐
现金及短期投资BAHVG
| Q4 25 | $882.0M | $2.4B | ||
| Q3 25 | $816.0M | $1.9B | ||
| Q2 25 | $711.0M | $2.2B | ||
| Q1 25 | $885.0M | $3.6B | ||
| Q4 24 | $453.5M | $3.6B | ||
| Q3 24 | $558.7M | — | ||
| Q2 24 | $297.7M | — | ||
| Q1 24 | $554.3M | — |
总债务BAHVG
| Q4 25 | $3.9B | $34.2B | ||
| Q3 25 | $4.0B | $32.6B | ||
| Q2 25 | $4.0B | $30.0B | ||
| Q1 25 | $4.0B | $29.3B | ||
| Q4 24 | $3.4B | $29.3B | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.4B | — | ||
| Q1 24 | $3.4B | — |
股东权益BAHVG
| Q4 25 | $1.0B | $6.7B | ||
| Q3 25 | $996.0M | $5.7B | ||
| Q2 25 | $1.1B | $5.3B | ||
| Q1 25 | $1.0B | $4.9B | ||
| Q4 24 | $1.2B | $2.9B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.0B | — |
总资产BAHVG
| Q4 25 | $7.1B | $53.4B | ||
| Q3 25 | $7.2B | $50.1B | ||
| Q2 25 | $7.2B | $46.5B | ||
| Q1 25 | $7.3B | $45.1B | ||
| Q4 24 | $6.8B | $43.5B | ||
| Q3 24 | $6.9B | — | ||
| Q2 24 | $6.6B | — | ||
| Q1 24 | $6.6B | — |
负债/权益比BAHVG
| Q4 25 | 3.84× | 5.07× | ||
| Q3 25 | 3.98× | 5.73× | ||
| Q2 25 | 3.74× | 5.69× | ||
| Q1 25 | 3.99× | 6.01× | ||
| Q4 24 | 2.79× | 10.11× | ||
| Q3 24 | 2.83× | — | ||
| Q2 24 | 3.14× | — | ||
| Q1 24 | 3.26× | — |
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 | $261.0M | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $248.0M | $-1.5B |
| 自由现金流率自由现金流/营收 | 9.5% | -34.1% |
| 资本支出强度资本支出/营收 | 0.5% | 81.6% |
| 现金转化率经营现金流/净利润 | 1.30× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $933.4M | $-6.8B |
8季度趋势，按日历期对齐
经营现金流BAHVG
| Q4 25 | $261.0M | $2.1B | ||
| Q3 25 | $421.0M | $1.9B | ||
| Q2 25 | $119.0M | $1.5B | ||
| Q1 25 | $219.0M | $1.1B | ||
| Q4 24 | $150.8M | — | ||
| Q3 24 | $587.1M | — | ||
| Q2 24 | $52.1M | — | ||
| Q1 24 | $143.8M | $638.0M |
自由现金流BAHVG
| Q4 25 | $248.0M | $-1.5B | ||
| Q3 25 | $395.0M | $-1.4B | ||
| Q2 25 | $96.0M | $-1.5B | ||
| Q1 25 | $194.4M | $-2.4B | ||
| Q4 24 | $133.6M | — | ||
| Q3 24 | $563.3M | — | ||
| Q2 24 | $19.7M | — | ||
| Q1 24 | $127.6M | $-2.4B |
自由现金流率BAHVG
| Q4 25 | 9.5% | -34.1% | ||
| Q3 25 | 13.7% | -42.4% | ||
| Q2 25 | 3.3% | -49.1% | ||
| Q1 25 | 6.5% | -81.3% | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 4.6% | -167.3% |
资本支出强度BAHVG
| Q4 25 | 0.5% | 81.6% | ||
| Q3 25 | 0.9% | 98.9% | ||
| Q2 25 | 0.8% | 96.1% | ||
| Q1 25 | 0.8% | 119.8% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 0.6% | 212.4% |
现金转化率BAHVG
| Q4 25 | 1.30× | 1.77× | ||
| Q3 25 | 2.41× | 3.42× | ||
| Q2 25 | 0.44× | 3.07× | ||
| Q1 25 | 1.14× | 2.15× | ||
| Q4 24 | 0.81× | — | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | 0.32× | — | ||
| Q1 24 | 1.12× | 0.91× |
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
BAH
| Defense Clients | $1.5B | 55% |
| Civil Clients | $732.0M | 28% |
| Intelligence Clients | $434.0M | 17% |
VG
| Plaquemines Project Segment | $3.4B | 76% |
| Calcasieu Project Segment | $841.0M | 19% |
| Other | $208.0M | 5% |
