vs
Bally's Corp（BALY）与Tradeweb Markets Inc.（TW）财务数据对比。点击上方公司名可切换其他公司
Bally's Corp的季度营收约是Tradeweb Markets Inc.的1.4倍（$746.2M vs $521.2M），Tradeweb Markets Inc.净利率更高（62.4% vs -47.3%，领先109.7%），Bally's Corp同比增速更快（28.6% vs 12.5%），过去两年Tradeweb Markets Inc.的营收复合增速更高（12.9% vs 9.8%）
巴利公司是总部位于美国罗德岛州普罗维登斯的博彩、体育投注与互动娱乐企业。目前该公司在美国11个州运营19家赌场，在科罗拉多州拥有一座赛马场，在纽约州拥有一座高尔夫球场，同时在全美14个州开展线上体育投注业务，还通过子公司在澳大利亚两个州运营两处产业。
Tradeweb Markets Inc.总部位于美国纽约，运营面向机构投资者的电子交易平台，支持固定收益产品、ETF及衍生品交易，服务覆盖银行、资管机构、央行、养老基金、保险公司等超3000家客户。2024年其83%营收来自交易手续费及佣金，17%来自订阅费，52%营收来自利率相关产品。
BALY vs TW — 直观对比
营收规模更大
BALY
是对方的1.4倍
$521.2M
营收增速更快
BALY
高出16.1%
12.5%
净利率更高
TW
高出109.7%
-47.3%
两年增速更快
TW
近两年复合增速
9.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $746.2M | $521.2M |
| 净利润 | $-353.2M | $325.0M |
| 毛利率 | — | — |
| 营业利润率 | -36.8% | 42.4% |
| 净利率 | -47.3% | 62.4% |
| 营收同比 | 28.6% | 12.5% |
| 净利润同比 | -311.8% | 128.5% |
| 每股收益（稀释后） | $-5.84 | $1.52 |
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BALYTW
| Q4 25 | $746.2M | $521.2M | ||
| Q3 25 | $663.7M | $508.6M | ||
| Q2 25 | $657.5M | $513.0M | ||
| Q1 25 | $368.7M | $509.7M | ||
| Q4 24 | $580.4M | $463.3M | ||
| Q3 24 | $630.0M | $448.9M | ||
| Q2 24 | $621.7M | $405.0M | ||
| Q1 24 | $618.5M | $408.7M |
净利润BALYTW
| Q4 25 | $-353.2M | $325.0M | ||
| Q3 25 | $-102.9M | $185.6M | ||
| Q2 25 | $-228.4M | $153.8M | ||
| Q1 25 | $34.5M | $148.4M | ||
| Q4 24 | $-85.8M | $142.2M | ||
| Q3 24 | $-247.9M | $113.9M | ||
| Q2 24 | $-60.2M | $119.2M | ||
| Q1 24 | $-173.9M | $126.1M |
营业利润率BALYTW
| Q4 25 | -36.8% | 42.4% | ||
| Q3 25 | 0.1% | 41.4% | ||
| Q2 25 | -0.4% | 39.0% | ||
| Q1 25 | -0.5% | 40.0% | ||
| Q4 24 | -5.6% | 40.7% | ||
| Q3 24 | -25.0% | 35.5% | ||
| Q2 24 | 0.9% | 40.1% | ||
| Q1 24 | -12.0% | 41.0% |
净利率BALYTW
| Q4 25 | -47.3% | 62.4% | ||
| Q3 25 | -15.5% | 36.5% | ||
| Q2 25 | -34.7% | 30.0% | ||
| Q1 25 | 9.4% | 29.1% | ||
| Q4 24 | -14.8% | 30.7% | ||
| Q3 24 | -39.3% | 25.4% | ||
| Q2 24 | -9.7% | 29.4% | ||
| Q1 24 | -28.1% | 30.9% |
每股收益（稀释后）BALYTW
| Q4 25 | $-5.84 | $1.52 | ||
| Q3 25 | $-1.70 | $0.86 | ||
| Q2 25 | $-3.76 | $0.71 | ||
| Q1 25 | $0.57 | $0.69 | ||
| Q4 24 | $-1.76 | $0.66 | ||
| Q3 24 | $-5.10 | $0.53 | ||
| Q2 24 | $-1.24 | $0.55 | ||
| Q1 24 | $-3.61 | $0.59 |
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 | $798.4M | $2.1B |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $994.7M | $6.5B |
| 总资产 | $11.2B | $8.2B |
| 负债/权益比越低杠杆越低 | 4.52× | — |
8季度趋势，按日历期对齐
现金及短期投资BALYTW
| Q4 25 | $798.4M | $2.1B | ||
| Q3 25 | $160.7M | $1.9B | ||
| Q2 25 | $174.6M | $1.6B | ||
| Q1 25 | $209.7M | $1.3B | ||
| Q4 24 | $171.2M | $1.3B | ||
| Q3 24 | $191.0M | $1.2B | ||
| Q2 24 | $154.7M | $1.7B | ||
| Q1 24 | $169.4M | $1.5B |
总债务BALYTW
| Q4 25 | $4.5B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.7B | — | ||
| Q2 24 | $3.7B | — | ||
| Q1 24 | $3.7B | — |
股东权益BALYTW
| Q4 25 | $994.7M | $6.5B | ||
| Q3 25 | $521.5M | $6.3B | ||
| Q2 25 | $630.1M | $6.1B | ||
| Q1 25 | $796.5M | $5.9B | ||
| Q4 24 | $30.9M | $5.8B | ||
| Q3 24 | $233.4M | $5.7B | ||
| Q2 24 | $393.1M | $5.6B | ||
| Q1 24 | $449.4M | $5.5B |
总资产BALYTW
| Q4 25 | $11.2B | $8.2B | ||
| Q3 25 | $7.6B | $8.0B | ||
| Q2 25 | $7.8B | $8.1B | ||
| Q1 25 | $7.5B | $7.4B | ||
| Q4 24 | $5.9B | $7.3B | ||
| Q3 24 | $6.4B | $7.3B | ||
| Q2 24 | $6.6B | $7.3B | ||
| Q1 24 | $6.6B | $7.4B |
负债/权益比BALYTW
| Q4 25 | 4.52× | — | ||
| Q3 25 | 7.17× | — | ||
| Q2 25 | 5.68× | — | ||
| Q1 25 | 4.33× | — | ||
| Q4 24 | 107.40× | — | ||
| Q3 24 | 15.73× | — | ||
| Q2 24 | 9.34× | — | ||
| Q1 24 | 8.19× | — |
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 | — | $355.9M |
| 自由现金流经营现金流 - 资本支出 | — | $336.5M |
| 自由现金流率自由现金流/营收 | — | 64.6% |
| 资本支出强度资本支出/营收 | 5.1% | 3.7% |
| 现金转化率经营现金流/净利润 | — | 1.10× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流BALYTW
| Q4 25 | — | $355.9M | ||
| Q3 25 | $-88.6M | $342.3M | ||
| Q2 25 | — | $409.2M | ||
| Q1 25 | $42.0M | $60.2M | ||
| Q4 24 | $37.8M | $282.0M | ||
| Q3 24 | $36.5M | $292.1M | ||
| Q2 24 | $47.6M | $285.7M | ||
| Q1 24 | $-7.9M | $37.9M |
自由现金流BALYTW
| Q4 25 | — | $336.5M | ||
| Q3 25 | $-139.3M | $328.3M | ||
| Q2 25 | — | $403.7M | ||
| Q1 25 | $11.5M | $58.6M | ||
| Q4 24 | $-5.9M | $256.8M | ||
| Q3 24 | $-55.8M | $287.8M | ||
| Q2 24 | $11.8M | $280.8M | ||
| Q1 24 | $-35.9M | $31.3M |
自由现金流率BALYTW
| Q4 25 | — | 64.6% | ||
| Q3 25 | -21.0% | 64.5% | ||
| Q2 25 | — | 78.7% | ||
| Q1 25 | 3.1% | 11.5% | ||
| Q4 24 | -1.0% | 55.4% | ||
| Q3 24 | -8.9% | 64.1% | ||
| Q2 24 | 1.9% | 69.4% | ||
| Q1 24 | -5.8% | 7.7% |
资本支出强度BALYTW
| Q4 25 | 5.1% | 3.7% | ||
| Q3 25 | 7.6% | 2.8% | ||
| Q2 25 | 7.4% | 1.1% | ||
| Q1 25 | 8.3% | 0.3% | ||
| Q4 24 | 7.5% | 5.4% | ||
| Q3 24 | 14.7% | 1.0% | ||
| Q2 24 | 5.7% | 1.2% | ||
| Q1 24 | 4.5% | 1.6% |
现金转化率BALYTW
| Q4 25 | — | 1.10× | ||
| Q3 25 | — | 1.84× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | 1.22× | 0.41× | ||
| Q4 24 | — | 1.98× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.40× | ||
| Q1 24 | — | 0.30× |
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
BALY
| Casinos Resorts | $366.2M | 49% |
| Non Casino | $172.7M | 23% |
| Food And Beverage | $74.6M | 10% |
| Hotel | $69.9M | 9% |
| North America Interactive | $62.3M | 8% |
| Loyalty Programs | $6.7M | 1% |
TW
| Other | $235.2M | 45% |
| Wholesale Client Sector | $97.9M | 19% |
| Subscription Fee Revenue | $60.0M | 12% |
| Retail Client Sector | $35.0M | 7% |
| Market Data Client Sector | $33.8M | 6% |
| Corporate Client Sector | $26.1M | 5% |
| Market Data Revenue | $23.2M | 4% |
| Financial Service Other | $10.0M | 2% |
