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布鲁克菲尔德资产管理（BAM）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
布鲁克菲尔德资产管理的季度营收约是朗美通的1.6倍（$1.1B vs $665.5M），布鲁克菲尔德资产管理净利率更高（56.7% vs 11.8%，领先44.9%）
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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
BAM vs LITE — 直观对比
营收规模更大
BAM
是对方的1.6倍
$665.5M
净利率更高
BAM
高出44.9%
11.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $665.5M |
| 净利润 | $615.0M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 84.2% | 9.7% |
| 净利率 | 56.7% | 11.8% |
| 营收同比 | — | 65.5% |
| 净利润同比 | — | 228.4% |
| 每股收益（稀释后） | — | $0.89 |
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BAMLITE
| Q4 25 | $1.1B | $665.5M | ||
| Q3 25 | $974.0M | $533.8M | ||
| Q2 25 | $931.0M | $480.7M | ||
| Q1 25 | $954.0M | $425.2M | ||
| Q4 24 | — | $402.2M | ||
| Q3 24 | $873.0M | $336.9M | ||
| Q2 24 | $821.0M | $308.3M | ||
| Q1 24 | $786.0M | $366.5M |
净利润BAMLITE
| Q4 25 | $615.0M | $78.2M | ||
| Q3 25 | $692.0M | $4.2M | ||
| Q2 25 | $584.0M | $213.3M | ||
| Q1 25 | $507.0M | $-44.1M | ||
| Q4 24 | — | $-60.9M | ||
| Q3 24 | $537.0M | $-82.4M | ||
| Q2 24 | $124.0M | $-252.5M | ||
| Q1 24 | $373.0M | $-127.0M |
毛利率BAMLITE
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 33.3% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 24.8% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 16.6% | ||
| Q1 24 | — | 16.2% |
营业利润率BAMLITE
| Q4 25 | 84.2% | 9.7% | ||
| Q3 25 | 79.1% | 1.3% | ||
| Q2 25 | 70.8% | -1.7% | ||
| Q1 25 | 61.0% | -8.9% | ||
| Q4 24 | — | -12.8% | ||
| Q3 24 | 72.5% | -24.5% | ||
| Q2 24 | 80.4% | -43.3% | ||
| Q1 24 | 56.5% | -31.3% |
净利率BAMLITE
| Q4 25 | 56.7% | 11.8% | ||
| Q3 25 | 71.0% | 0.8% | ||
| Q2 25 | 62.7% | 44.4% | ||
| Q1 25 | 53.1% | -10.4% | ||
| Q4 24 | — | -15.1% | ||
| Q3 24 | 61.5% | -24.5% | ||
| Q2 24 | 15.1% | -81.9% | ||
| Q1 24 | 47.5% | -34.7% |
每股收益（稀释后）BAMLITE
| Q4 25 | — | $0.89 | ||
| Q3 25 | — | $0.05 | ||
| Q2 25 | — | $3.10 | ||
| Q1 25 | — | $-0.64 | ||
| Q4 24 | — | $-0.88 | ||
| Q3 24 | — | $-1.21 | ||
| Q2 24 | — | $-3.75 | ||
| Q1 24 | — | $-1.88 |
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 | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.9B | $846.6M |
| 总资产 | $17.0B | $4.8B |
| 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BAMLITE
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $480.0M | $877.1M | ||
| Q1 25 | $332.0M | $866.7M | ||
| Q4 24 | — | $896.7M | ||
| Q3 24 | — | $916.1M | ||
| Q2 24 | $10.0M | $887.0M | ||
| Q1 24 | — | $870.9M |
股东权益BAMLITE
| Q4 25 | $8.9B | $846.6M | ||
| Q3 25 | $8.5B | $780.8M | ||
| Q2 25 | $8.5B | $1.1B | ||
| Q1 25 | $8.5B | $879.5M | ||
| Q4 24 | — | $872.3M | ||
| Q3 24 | $9.0B | $895.9M | ||
| Q2 24 | $3.2B | $957.3M | ||
| Q1 24 | $2.2B | $1.2B |
总资产BAMLITE
| Q4 25 | $17.0B | $4.8B | ||
| Q3 25 | $16.5B | $4.6B | ||
| Q2 25 | $16.1B | $4.2B | ||
| Q1 25 | $15.0B | $4.0B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | $4.2B | $3.9B | ||
| Q1 24 | — | $4.2B |
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 | $126.7M |
| 自由现金流经营现金流 - 资本支出 | — | $43.1M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 12.6% |
| 现金转化率经营现金流/净利润 | 0.91× | 1.62× |
| 过去12个月自由现金流最近4个季度 | — | $-29.5M |
8季度趋势，按日历期对齐
经营现金流BAMLITE
| Q4 25 | $562.0M | $126.7M | ||
| Q3 25 | $745.0M | $57.9M | ||
| Q2 25 | $529.0M | $64.0M | ||
| Q1 25 | $265.0M | $-1.6M | ||
| Q4 24 | — | $24.3M | ||
| Q3 24 | $567.0M | $39.6M | ||
| Q2 24 | $159.0M | $35.5M | ||
| Q1 24 | $516.0M | $-7.0M |
自由现金流BAMLITE
| Q4 25 | — | $43.1M | ||
| Q3 25 | — | $-18.3M | ||
| Q2 25 | — | $10.1M | ||
| Q1 25 | — | $-64.4M | ||
| Q4 24 | — | $-15.9M | ||
| Q3 24 | — | $-34.5M | ||
| Q2 24 | — | $10.9M | ||
| Q1 24 | — | $-26.6M |
自由现金流率BAMLITE
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | -3.4% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | -15.1% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | — | -10.2% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | -7.3% |
资本支出强度BAMLITE
| Q4 25 | — | 12.6% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 14.8% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 22.0% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | 5.3% |
现金转化率BAMLITE
| Q4 25 | 0.91× | 1.62× | ||
| Q3 25 | 1.08× | 13.79× | ||
| Q2 25 | 0.91× | 0.30× | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.06× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.38× | — |
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% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
