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布鲁克菲尔德资产管理（BAM）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行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 9.1%，领先47.6%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
BAM vs RBA — 直观对比
营收规模更大
RBA
是对方的1.1倍
$1.1B
净利率更高
BAM
高出47.6%
9.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $615.0M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 84.2% | 14.7% |
| 净利率 | 56.7% | 9.1% |
| 营收同比 | — | 5.4% |
| 净利润同比 | — | -7.4% |
| 每股收益（稀释后） | — | $0.53 |
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BAMRBA
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $974.0M | $1.1B | ||
| Q2 25 | $931.0M | $1.2B | ||
| Q1 25 | $954.0M | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $873.0M | $981.8M | ||
| Q2 24 | $821.0M | $1.1B | ||
| Q1 24 | $786.0M | $1.1B |
净利润BAMRBA
| Q4 25 | $615.0M | $109.7M | ||
| Q3 25 | $692.0M | $95.5M | ||
| Q2 25 | $584.0M | $109.8M | ||
| Q1 25 | $507.0M | $113.4M | ||
| Q4 24 | — | $118.5M | ||
| Q3 24 | $537.0M | $76.1M | ||
| Q2 24 | $124.0M | $111.1M | ||
| Q1 24 | $373.0M | $107.4M |
营业利润率BAMRBA
| Q4 25 | 84.2% | 14.7% | ||
| Q3 25 | 79.1% | 14.5% | ||
| Q2 25 | 70.8% | 15.9% | ||
| Q1 25 | 61.0% | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 72.5% | 15.6% | ||
| Q2 24 | 80.4% | 18.4% | ||
| Q1 24 | 56.5% | 18.7% |
净利率BAMRBA
| Q4 25 | 56.7% | 9.1% | ||
| Q3 25 | 71.0% | 8.7% | ||
| Q2 25 | 62.7% | 9.3% | ||
| Q1 25 | 53.1% | 10.2% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | 61.5% | 7.8% | ||
| Q2 24 | 15.1% | 10.1% | ||
| Q1 24 | 47.5% | 10.1% |
每股收益（稀释后）BAMRBA
| Q4 25 | — | $0.53 | ||
| Q3 25 | — | $0.43 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | — | $0.53 |
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 | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $8.9B | $5.6B |
| 总资产 | $17.0B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资BAMRBA
| Q4 25 | $1.6B | $531.5M | ||
| Q3 25 | $1.1B | $674.7M | ||
| Q2 25 | $480.0M | $710.2M | ||
| Q1 25 | $332.0M | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | — | $650.7M | ||
| Q2 24 | $10.0M | $599.5M | ||
| Q1 24 | — | $462.8M |
总债务BAMRBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益BAMRBA
| Q4 25 | $8.9B | $5.6B | ||
| Q3 25 | $8.5B | $5.5B | ||
| Q2 25 | $8.5B | $5.5B | ||
| Q1 25 | $8.5B | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $9.0B | $5.2B | ||
| Q2 24 | $3.2B | $5.2B | ||
| Q1 24 | $2.2B | $5.1B |
总资产BAMRBA
| Q4 25 | $17.0B | $12.1B | ||
| Q3 25 | $16.5B | $12.2B | ||
| Q2 25 | $16.1B | $12.2B | ||
| Q1 25 | $15.0B | $11.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | $4.2B | $12.1B | ||
| Q1 24 | — | $12.0B |
负债/权益比BAMRBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | — | $186.5M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 5.7% |
| 现金转化率经营现金流/净利润 | 0.91× | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流BAMRBA
| Q4 25 | $562.0M | $255.2M | ||
| Q3 25 | $745.0M | $239.7M | ||
| Q2 25 | $529.0M | $326.5M | ||
| Q1 25 | $265.0M | $156.8M | ||
| Q4 24 | — | $184.5M | ||
| Q3 24 | $567.0M | $285.4M | ||
| Q2 24 | $159.0M | $337.3M | ||
| Q1 24 | $516.0M | $124.8M |
自由现金流BAMRBA
| Q4 25 | — | $186.5M | ||
| Q3 25 | — | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M | ||
| Q1 24 | — | $79.6M |
自由现金流率BAMRBA
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 7.5% |
资本支出强度BAMRBA
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 4.2% |
现金转化率BAMRBA
| Q4 25 | 0.91× | 2.33× | ||
| Q3 25 | 1.08× | 2.51× | ||
| Q2 25 | 0.91× | 2.97× | ||
| Q1 25 | 0.52× | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 1.06× | 3.75× | ||
| Q2 24 | 1.28× | 3.04× | ||
| Q1 24 | 1.38× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
