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布鲁克菲尔德资产管理（BAM）与先锋自然资源公司（PR）财务数据对比。点击上方公司名可切换其他公司
先锋自然资源公司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 29.0%，领先27.6%）
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。
先锋自然资源公司总部位于美国得克萨斯州欧文市，主要从事油气勘探业务，运营覆盖二叠纪盆地Spraberry产区的克莱恩页岩区块，是该区域最大的土地权益持有方，2024年5月被埃克森美孚收购。
BAM vs PR — 直观对比
营收规模更大
PR
是对方的1.1倍
$1.1B
净利率更高
BAM
高出27.6%
29.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $615.0M | $339.5M |
| 毛利率 | — | — |
| 营业利润率 | 84.2% | 23.1% |
| 净利率 | 56.7% | 29.0% |
| 营收同比 | — | -9.8% |
| 净利润同比 | — | 56.7% |
| 每股收益（稀释后） | — | $0.48 |
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BAMPR
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $974.0M | $1.3B | ||
| Q2 25 | $931.0M | $1.2B | ||
| Q1 25 | $954.0M | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $873.0M | $1.2B | ||
| Q2 24 | $821.0M | $1.2B | ||
| Q1 24 | $786.0M | $1.2B |
净利润BAMPR
| Q4 25 | $615.0M | $339.5M | ||
| Q3 25 | $692.0M | $59.2M | ||
| Q2 25 | $584.0M | $207.1M | ||
| Q1 25 | $507.0M | $329.3M | ||
| Q4 24 | — | $216.7M | ||
| Q3 24 | $537.0M | $386.4M | ||
| Q2 24 | $124.0M | $235.1M | ||
| Q1 24 | $373.0M | $146.6M |
营业利润率BAMPR
| Q4 25 | 84.2% | 23.1% | ||
| Q3 25 | 79.1% | 29.6% | ||
| Q2 25 | 70.8% | 24.8% | ||
| Q1 25 | 61.0% | 36.6% | ||
| Q4 24 | — | 32.8% | ||
| Q3 24 | 72.5% | 32.5% | ||
| Q2 24 | 80.4% | 36.5% | ||
| Q1 24 | 56.5% | 37.7% |
净利率BAMPR
| Q4 25 | 56.7% | 29.0% | ||
| Q3 25 | 71.0% | 4.5% | ||
| Q2 25 | 62.7% | 17.3% | ||
| Q1 25 | 53.1% | 23.9% | ||
| Q4 24 | — | 16.7% | ||
| Q3 24 | 61.5% | 31.8% | ||
| Q2 24 | 15.1% | 18.9% | ||
| Q1 24 | 47.5% | 11.8% |
每股收益（稀释后）BAMPR
| Q4 25 | — | $0.48 | ||
| Q3 25 | — | $0.08 | ||
| Q2 25 | — | $0.28 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $0.31 | ||
| Q3 24 | — | $0.53 | ||
| Q2 24 | — | $0.36 | ||
| Q1 24 | — | $0.25 |
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 | $153.7M |
| 总债务越低越好 | — | $3.5B |
| 股东权益账面价值 | $8.9B | $10.3B |
| 总资产 | $17.0B | $17.9B |
| 负债/权益比越低杠杆越低 | — | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资BAMPR
| Q4 25 | $1.6B | $153.7M | ||
| Q3 25 | $1.1B | $111.8M | ||
| Q2 25 | $480.0M | $451.0M | ||
| Q1 25 | $332.0M | $702.2M | ||
| Q4 24 | — | $479.3M | ||
| Q3 24 | — | $272.0M | ||
| Q2 24 | $10.0M | $47.8M | ||
| Q1 24 | — | $12.7M |
总债务BAMPR
| Q4 25 | — | $3.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.9B |
股东权益BAMPR
| Q4 25 | $8.9B | $10.3B | ||
| Q3 25 | $8.5B | $10.0B | ||
| Q2 25 | $8.5B | $9.5B | ||
| Q1 25 | $8.5B | $9.4B | ||
| Q4 24 | — | $9.1B | ||
| Q3 24 | $9.0B | $9.0B | ||
| Q2 24 | $3.2B | $8.3B | ||
| Q1 24 | $2.2B | $7.0B |
总资产BAMPR
| Q4 25 | $17.0B | $17.9B | ||
| Q3 25 | $16.5B | $17.3B | ||
| Q2 25 | $16.1B | $17.5B | ||
| Q1 25 | $15.0B | $17.1B | ||
| Q4 24 | — | $16.9B | ||
| Q3 24 | — | $16.6B | ||
| Q2 24 | $4.2B | $15.4B | ||
| Q1 24 | — | $15.1B |
负债/权益比BAMPR
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.56× |
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 | $904.3M |
| 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× | 2.66× |
| 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BAMPR
| Q4 25 | $562.0M | $904.3M | ||
| Q3 25 | $745.0M | $766.5M | ||
| Q2 25 | $529.0M | $1.0B | ||
| Q1 25 | $265.0M | $898.0M | ||
| Q4 24 | — | $871.6M | ||
| Q3 24 | $567.0M | $954.4M | ||
| Q2 24 | $159.0M | $938.4M | ||
| Q1 24 | $516.0M | $647.6M |
现金转化率BAMPR
| Q4 25 | 0.91× | 2.66× | ||
| Q3 25 | 1.08× | 12.94× | ||
| Q2 25 | 0.91× | 5.01× | ||
| Q1 25 | 0.52× | 2.73× | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | 1.06× | 2.47× | ||
| Q2 24 | 1.28× | 3.99× | ||
| Q1 24 | 1.38× | 4.42× |
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% |
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
