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布鲁克菲尔德资产管理（BAM）与雷诺士国际（LII）财务数据对比。点击上方公司名可切换其他公司
雷诺士国际的季度营收约是布鲁克菲尔德资产管理的1.1倍（$1.2B vs $1.1B），布鲁克菲尔德资产管理净利率更高（56.7% vs 13.6%，领先43.1%）
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。
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
BAM vs LII — 直观对比
营收规模更大
LII
是对方的1.1倍
$1.1B
净利率更高
BAM
高出43.1%
13.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $615.0M | $162.1M |
| 毛利率 | — | 34.7% |
| 营业利润率 | 84.2% | 18.6% |
| 净利率 | 56.7% | 13.6% |
| 营收同比 | — | -11.2% |
| 净利润同比 | — | -18.0% |
| 每股收益（稀释后） | — | $4.62 |
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BAMLII
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $974.0M | $1.4B | ||
| Q2 25 | $931.0M | $1.5B | ||
| Q1 25 | $954.0M | $1.1B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $873.0M | $1.5B | ||
| Q2 24 | $821.0M | $1.5B | ||
| Q1 24 | $786.0M | $1.0B |
净利润BAMLII
| Q4 25 | $615.0M | $162.1M | ||
| Q3 25 | $692.0M | $245.8M | ||
| Q2 25 | $584.0M | $277.6M | ||
| Q1 25 | $507.0M | $120.3M | ||
| Q4 24 | — | $197.7M | ||
| Q3 24 | $537.0M | $239.0M | ||
| Q2 24 | $124.0M | $245.9M | ||
| Q1 24 | $373.0M | $124.3M |
毛利率BAMLII
| Q4 25 | — | 34.7% | ||
| Q3 25 | — | 32.8% | ||
| Q2 25 | — | 34.8% | ||
| Q1 25 | — | 30.6% | ||
| Q4 24 | — | 33.9% | ||
| Q3 24 | — | 32.6% | ||
| Q2 24 | — | 33.6% | ||
| Q1 24 | — | 32.5% |
营业利润率BAMLII
| Q4 25 | 84.2% | 18.6% | ||
| Q3 25 | 79.1% | 21.7% | ||
| Q2 25 | 70.8% | 23.6% | ||
| Q1 25 | 61.0% | 14.5% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | 72.5% | 20.2% | ||
| Q2 24 | 80.4% | 22.1% | ||
| Q1 24 | 56.5% | 15.9% |
净利率BAMLII
| Q4 25 | 56.7% | 13.6% | ||
| Q3 25 | 71.0% | 17.2% | ||
| Q2 25 | 62.7% | 18.5% | ||
| Q1 25 | 53.1% | 11.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 61.5% | 16.0% | ||
| Q2 24 | 15.1% | 16.9% | ||
| Q1 24 | 47.5% | 11.9% |
每股收益（稀释后）BAMLII
| Q4 25 | — | $4.62 | ||
| Q3 25 | — | $6.98 | ||
| Q2 25 | — | $7.82 | ||
| Q1 25 | — | $3.37 | ||
| Q4 24 | — | $5.52 | ||
| Q3 24 | — | $6.68 | ||
| Q2 24 | — | $6.87 | ||
| Q1 24 | — | $3.47 |
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 | $1.6B | $34.7M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $8.9B | $1.2B |
| 总资产 | $17.0B | $4.1B |
| 负债/权益比越低杠杆越低 | — | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资BAMLII
| Q4 25 | $1.6B | $34.7M | ||
| Q3 25 | $1.1B | $59.2M | ||
| Q2 25 | $480.0M | $55.1M | ||
| Q1 25 | $332.0M | $222.9M | ||
| Q4 24 | — | $422.3M | ||
| Q3 24 | — | $255.7M | ||
| Q2 24 | $10.0M | $57.8M | ||
| Q1 24 | — | $57.6M |
总债务BAMLII
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $838.2M | ||
| Q2 25 | — | $835.7M | ||
| Q1 25 | — | $834.2M | ||
| Q4 24 | — | $833.1M | ||
| Q3 24 | — | $827.6M | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.2B |
股东权益BAMLII
| Q4 25 | $8.9B | $1.2B | ||
| Q3 25 | $8.5B | $1.1B | ||
| Q2 25 | $8.5B | $900.5M | ||
| Q1 25 | $8.5B | $852.5M | ||
| Q4 24 | — | $850.2M | ||
| Q3 24 | $9.0B | $754.0M | ||
| Q2 24 | $3.2B | $577.4M | ||
| Q1 24 | $2.2B | $368.8M |
总资产BAMLII
| Q4 25 | $17.0B | $4.1B | ||
| Q3 25 | $16.5B | $3.5B | ||
| Q2 25 | $16.1B | $3.7B | ||
| Q1 25 | $15.0B | $3.5B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | $4.2B | $3.2B | ||
| Q1 24 | — | $3.0B |
负债/权益比BAMLII
| Q4 25 | — | 0.98× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.95× | ||
| Q1 24 | — | 3.13× |
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 | $562.0M | $405.9M |
| 自由现金流经营现金流 - 资本支出 | — | $376.7M |
| 自由现金流率自由现金流/营收 | — | 31.5% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 0.91× | 2.50× |
| 过去12个月自由现金流最近4个季度 | — | $638.8M |
8季度趋势，按日历期对齐
经营现金流BAMLII
| Q4 25 | $562.0M | $405.9M | ||
| Q3 25 | $745.0M | $300.7M | ||
| Q2 25 | $529.0M | $86.8M | ||
| Q1 25 | $265.0M | $-35.8M | ||
| Q4 24 | — | $332.4M | ||
| Q3 24 | $567.0M | $452.1M | ||
| Q2 24 | $159.0M | $184.0M | ||
| Q1 24 | $516.0M | $-22.8M |
自由现金流BAMLII
| Q4 25 | — | $376.7M | ||
| Q3 25 | — | $265.1M | ||
| Q2 25 | — | $58.3M | ||
| Q1 25 | — | $-61.3M | ||
| Q4 24 | — | $272.2M | ||
| Q3 24 | — | $410.9M | ||
| Q2 24 | — | $151.3M | ||
| Q1 24 | — | $-52.3M |
自由现金流率BAMLII
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 18.6% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 20.2% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 10.4% | ||
| Q1 24 | — | -5.0% |
资本支出强度BAMLII
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 2.8% |
现金转化率BAMLII
| Q4 25 | 0.91× | 2.50× | ||
| Q3 25 | 1.08× | 1.22× | ||
| Q2 25 | 0.91× | 0.31× | ||
| Q1 25 | 0.52× | -0.30× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 1.06× | 1.89× | ||
| Q2 24 | 1.28× | 0.75× | ||
| Q1 24 | 1.38× | -0.18× |
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
| Incentive Fees | $452.0M | 42% |
| Infrastruture | $332.0M | 31% |
| Private Equity | $174.0M | 16% |
| Renewable Power And Transition | $66.0M | 6% |
| Other | $47.0M | 4% |
| Management And Advisory Fees | $14.0M | 1% |
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
