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布鲁克菲尔德资产管理（BAM）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的季度营收约是布鲁克菲尔德资产管理的1.7倍（$2.2B vs $1.3B），布鲁克菲尔德资产管理净利率更高（43.8% vs 1.1%，领先42.7%），布鲁克菲尔德资产管理同比增速更快（23.8% vs 7.0%），过去两年布鲁克菲尔德资产管理的营收复合增速更高（30.5% vs 0.2%）
布鲁克菲尔德资产管理有限公司是加美两地的另类资产管理机构，2022年12月从布鲁克菲尔德集团的资管业务分拆成立，在全球范围内管理不动产、基础设施、可再生能源、私募股权及信贷市场等领域的投资。
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。
BAM vs GLP — 直观对比
营收规模更大
GLP
是对方的1.7倍
$1.3B
营收增速更快
BAM
高出16.8%
7.0%
净利率更高
BAM
高出42.7%
1.1%
两年增速更快
BAM
近两年复合增速
0.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $586.0M | $25.1M |
| 毛利率 | — | 11.9% |
| 营业利润率 | — | 2.6% |
| 净利率 | 43.8% | 1.1% |
| 营收同比 | 23.8% | 7.0% |
| 净利润同比 | 15.6% | 5.0% |
| 每股收益（稀释后） | $0.38 | — |
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BAMGLP
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $974.0M | $2.2B | ||
| Q2 25 | $931.0M | $2.1B | ||
| Q1 25 | $954.0M | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $873.0M | $2.1B | ||
| Q2 24 | $821.0M | $2.3B |
净利润BAMGLP
| Q1 26 | $586.0M | — | ||
| Q4 25 | $615.0M | $25.1M | ||
| Q3 25 | $692.0M | $29.0M | ||
| Q2 25 | $584.0M | $25.2M | ||
| Q1 25 | $507.0M | $18.7M | ||
| Q4 24 | — | $23.9M | ||
| Q3 24 | $537.0M | $45.9M | ||
| Q2 24 | $124.0M | $46.1M |
毛利率BAMGLP
| Q1 26 | — | — | ||
| 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% |
营业利润率BAMGLP
| Q1 26 | — | — | ||
| Q4 25 | 84.2% | 2.6% | ||
| Q3 25 | 79.1% | 2.7% | ||
| Q2 25 | 70.8% | 2.9% | ||
| Q1 25 | 61.0% | 2.6% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | 72.5% | 3.9% | ||
| Q2 24 | 80.4% | 3.7% |
净利率BAMGLP
| Q1 26 | 43.8% | — | ||
| Q4 25 | 56.7% | 1.1% | ||
| Q3 25 | 71.0% | 1.3% | ||
| Q2 25 | 62.7% | 1.2% | ||
| Q1 25 | 53.1% | 0.9% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | 61.5% | 2.1% | ||
| Q2 24 | 15.1% | 2.0% |
每股收益（稀释后）BAMGLP
| Q1 26 | $0.38 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $1.0M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.6M | — |
| 总资产 | $17.9M | $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BAMGLP
| Q1 26 | $1.0M | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $480.0M | — | ||
| Q1 25 | $332.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $10.0M | — |
股东权益BAMGLP
| Q1 26 | $8.6M | — | ||
| Q4 25 | $8.9B | — | ||
| Q3 25 | $8.5B | — | ||
| Q2 25 | $8.5B | — | ||
| Q1 25 | $8.5B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $9.0B | — | ||
| Q2 24 | $3.2B | — |
总资产BAMGLP
| Q1 26 | $17.9M | — | ||
| Q4 25 | $17.0B | $3.9B | ||
| Q3 25 | $16.5B | $3.7B | ||
| Q2 25 | $16.1B | $3.8B | ||
| Q1 25 | $15.0B | $3.8B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | $4.2B | $3.8B |
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 | — | $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 | — | 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BAMGLP
| Q1 26 | — | — | ||
| Q4 25 | $562.0M | $101.0M | ||
| Q3 25 | $745.0M | $19.0M | ||
| Q2 25 | $529.0M | $216.3M | ||
| Q1 25 | $265.0M | $-51.6M | ||
| Q4 24 | — | $67.2M | ||
| Q3 24 | $567.0M | $122.7M | ||
| Q2 24 | $159.0M | $24.3M |
自由现金流BAMGLP
| Q1 26 | — | — | ||
| 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 |
自由现金流率BAMGLP
| Q1 26 | — | — | ||
| 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% |
资本支出强度BAMGLP
| Q1 26 | — | — | ||
| 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% |
现金转化率BAMGLP
| Q1 26 | — | — | ||
| Q4 25 | 0.91× | 4.03× | ||
| Q3 25 | 1.08× | 0.66× | ||
| Q2 25 | 0.91× | 8.58× | ||
| Q1 25 | 0.52× | -2.76× | ||
| Q4 24 | — | 2.82× | ||
| Q3 24 | 1.06× | 2.67× | ||
| Q2 24 | 1.28× | 0.53× |
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
BAM
| Management and incentive fee revenues | $990.0M | 74% |
| Other revenues | $236.0M | 18% |
| Other | $112.0M | 8% |
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% |
