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布鲁克菲尔德资产管理（BAM）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是布鲁克菲尔德资产管理的1.6倍（$1.8B vs $1.1B），布鲁克菲尔德资产管理净利率更高（56.7% vs 6.0%，领先50.7%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
BAM vs MAT — 直观对比
营收规模更大
MAT
是对方的1.6倍
$1.1B
净利率更高
BAM
高出50.7%
6.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.8B |
| 净利润 | $615.0M | $106.2M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 84.2% | 8.0% |
| 净利率 | 56.7% | 6.0% |
| 营收同比 | — | 7.3% |
| 净利润同比 | — | -24.6% |
| 每股收益（稀释后） | — | $0.32 |
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BAMMAT
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $974.0M | $1.7B | ||
| Q2 25 | $931.0M | $1.0B | ||
| Q1 25 | $954.0M | $826.6M | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $873.0M | $1.8B | ||
| Q2 24 | $821.0M | $1.1B | ||
| Q1 24 | $786.0M | $809.5M |
净利润BAMMAT
| Q4 25 | $615.0M | $106.2M | ||
| Q3 25 | $692.0M | $278.4M | ||
| Q2 25 | $584.0M | $53.4M | ||
| Q1 25 | $507.0M | $-40.3M | ||
| Q4 24 | — | $140.9M | ||
| Q3 24 | $537.0M | $372.4M | ||
| Q2 24 | $124.0M | $56.9M | ||
| Q1 24 | $373.0M | $-28.3M |
毛利率BAMMAT
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 50.9% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.7% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 49.2% | ||
| Q1 24 | — | 48.0% |
营业利润率BAMMAT
| Q4 25 | 84.2% | 8.0% | ||
| Q3 25 | 79.1% | 21.9% | ||
| Q2 25 | 70.8% | 7.7% | ||
| Q1 25 | 61.0% | -6.4% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | 72.5% | 26.5% | ||
| Q2 24 | 80.4% | 7.7% | ||
| Q1 24 | 56.5% | -4.4% |
净利率BAMMAT
| Q4 25 | 56.7% | 6.0% | ||
| Q3 25 | 71.0% | 16.0% | ||
| Q2 25 | 62.7% | 5.2% | ||
| Q1 25 | 53.1% | -4.9% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | 61.5% | 20.2% | ||
| Q2 24 | 15.1% | 5.3% | ||
| Q1 24 | 47.5% | -3.5% |
每股收益（稀释后）BAMMAT
| Q4 25 | — | $0.32 | ||
| Q3 25 | — | $0.88 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $-0.12 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | — | $1.09 | ||
| Q2 24 | — | $0.17 | ||
| Q1 24 | — | $-0.08 |
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 | — | $2.3B |
| 股东权益账面价值 | $8.9B | $2.2B |
| 总资产 | $17.0B | $6.6B |
| 负债/权益比越低杠杆越低 | — | 1.04× |
8季度趋势，按日历期对齐
现金及短期投资BAMMAT
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.1B | $691.9M | ||
| Q2 25 | $480.0M | $870.5M | ||
| Q1 25 | $332.0M | $1.2B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $723.5M | ||
| Q2 24 | $10.0M | $722.4M | ||
| Q1 24 | — | $1.1B |
总债务BAMMAT
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
股东权益BAMMAT
| Q4 25 | $8.9B | $2.2B | ||
| Q3 25 | $8.5B | $2.3B | ||
| Q2 25 | $8.5B | $2.2B | ||
| Q1 25 | $8.5B | $2.1B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $9.0B | $2.3B | ||
| Q2 24 | $3.2B | $2.0B | ||
| Q1 24 | $2.2B | $2.0B |
总资产BAMMAT
| Q4 25 | $17.0B | $6.6B | ||
| Q3 25 | $16.5B | $6.6B | ||
| Q2 25 | $16.1B | $6.2B | ||
| Q1 25 | $15.0B | $6.2B | ||
| Q4 24 | — | $6.5B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | $4.2B | $5.9B | ||
| Q1 24 | — | $6.1B |
负债/权益比BAMMAT
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× | ||
| Q1 24 | — | 1.15× |
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 | $796.6M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 0.91× | 7.50× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BAMMAT
| Q4 25 | $562.0M | $796.6M | ||
| Q3 25 | $745.0M | $72.0M | ||
| Q2 25 | $529.0M | $-300.1M | ||
| Q1 25 | $265.0M | $24.8M | ||
| Q4 24 | — | $862.1M | ||
| Q3 24 | $567.0M | $155.8M | ||
| Q2 24 | $159.0M | $-252.9M | ||
| Q1 24 | $516.0M | $35.5M |
现金转化率BAMMAT
| Q4 25 | 0.91× | 7.50× | ||
| Q3 25 | 1.08× | 0.26× | ||
| Q2 25 | 0.91× | -5.62× | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | — | 6.12× | ||
| Q3 24 | 1.06× | 0.42× | ||
| Q2 24 | 1.28× | -4.45× | ||
| 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% |
MAT
| North America Segment | $1.0B | 58% |
| International Segment | $745.6M | 42% |
