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布鲁克菲尔德资产管理（BAM）与WEC Energy Group（WEC）财务数据对比。点击上方公司名可切换其他公司
WEC Energy Group的季度营收约是布鲁克菲尔德资产管理的1.9倍（$2.5B vs $1.3B），布鲁克菲尔德资产管理净利率更高（43.8% vs 12.5%，领先31.3%），布鲁克菲尔德资产管理同比增速更快（23.8% vs 11.1%），过去两年布鲁克菲尔德资产管理的营收复合增速更高（30.5% vs -2.7%）
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。
WEC能源集团是总部位于美国威斯康星州密尔沃基的知名能源企业，业务覆盖美国四个州，为总计440万用户提供可靠的电力及天然气供应服务，是北美地区颇具规模的区域性能源服务商。
BAM vs WEC — 直观对比
营收规模更大
WEC
是对方的1.9倍
$1.3B
营收增速更快
BAM
高出12.7%
11.1%
净利率更高
BAM
高出31.3%
12.5%
两年增速更快
BAM
近两年复合增速
-2.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.5B |
| 净利润 | $586.0M | $316.8M |
| 毛利率 | — | 63.7% |
| 营业利润率 | — | 17.9% |
| 净利率 | 43.8% | 12.5% |
| 营收同比 | 23.8% | 11.1% |
| 净利润同比 | 15.6% | -30.1% |
| 每股收益（稀释后） | $0.38 | — |
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BAMWEC
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.1B | $2.5B | ||
| Q3 25 | $974.0M | $2.1B | ||
| Q2 25 | $931.0M | $2.0B | ||
| Q1 25 | $954.0M | $3.1B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $873.0M | $1.9B | ||
| Q2 24 | $821.0M | $1.8B |
净利润BAMWEC
| Q1 26 | $586.0M | — | ||
| Q4 25 | $615.0M | $316.8M | ||
| Q3 25 | $692.0M | $270.2M | ||
| Q2 25 | $584.0M | $243.0M | ||
| Q1 25 | $507.0M | $725.5M | ||
| Q4 24 | — | $453.1M | ||
| Q3 24 | $537.0M | $238.6M | ||
| Q2 24 | $124.0M | $210.0M |
毛利率BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | — | 63.7% | ||
| Q3 25 | — | 71.1% | ||
| Q2 25 | — | 71.6% | ||
| Q1 25 | — | 63.0% | ||
| Q4 24 | — | 67.7% | ||
| Q3 24 | — | 72.1% | ||
| Q2 24 | — | 73.5% |
营业利润率BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | 84.2% | 17.9% | ||
| Q3 25 | 79.1% | 21.4% | ||
| Q2 25 | 70.8% | 20.1% | ||
| Q1 25 | 61.0% | 29.8% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | 72.5% | 20.6% | ||
| Q2 24 | 80.4% | 20.6% |
净利率BAMWEC
| Q1 26 | 43.8% | — | ||
| Q4 25 | 56.7% | 12.5% | ||
| Q3 25 | 71.0% | 12.8% | ||
| Q2 25 | 62.7% | 12.1% | ||
| Q1 25 | 53.1% | 23.0% | ||
| Q4 24 | — | 19.8% | ||
| Q3 24 | 61.5% | 12.8% | ||
| Q2 24 | 15.1% | 11.9% |
每股收益（稀释后）BAMWEC
| Q1 26 | $0.38 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $1.0M | $27.6M |
| 总债务越低越好 | — | $20.0B |
| 股东权益账面价值 | $8.6M | $14.1B |
| 总资产 | $17.9M | $51.5B |
| 负债/权益比越低杠杆越低 | — | 1.42× |
8季度趋势，按日历期对齐
现金及短期投资BAMWEC
| Q1 26 | $1.0M | — | ||
| Q4 25 | $1.6B | $27.6M | ||
| Q3 25 | $1.1B | $51.1M | ||
| Q2 25 | $480.0M | $23.0M | ||
| Q1 25 | $332.0M | $82.2M | ||
| Q4 24 | — | $9.8M | ||
| Q3 24 | — | $322.5M | ||
| Q2 24 | $10.0M | $224.0M |
总债务BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | — | $20.0B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.9B | ||
| Q3 24 | — | $16.9B | ||
| Q2 24 | — | $16.9B |
股东权益BAMWEC
| Q1 26 | $8.6M | — | ||
| Q4 25 | $8.9B | $14.1B | ||
| Q3 25 | $8.5B | $14.0B | ||
| Q2 25 | $8.5B | $13.7B | ||
| Q1 25 | $8.5B | $13.4B | ||
| Q4 24 | — | $12.8B | ||
| Q3 24 | $9.0B | $12.4B | ||
| Q2 24 | $3.2B | $12.4B |
总资产BAMWEC
| Q1 26 | $17.9M | — | ||
| Q4 25 | $17.0B | $51.5B | ||
| Q3 25 | $16.5B | $49.8B | ||
| Q2 25 | $16.1B | $48.5B | ||
| Q1 25 | $15.0B | $48.2B | ||
| Q4 24 | — | $47.4B | ||
| Q3 24 | — | $45.2B | ||
| Q2 24 | $4.2B | $44.6B |
负债/权益比BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.36× |
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 | — | $424.6M |
| 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 | — | 1.34× |
| 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BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | $562.0M | $424.6M | ||
| Q3 25 | $745.0M | $938.9M | ||
| Q2 25 | $529.0M | $853.3M | ||
| Q1 25 | $265.0M | $1.2B | ||
| Q4 24 | — | $581.8M | ||
| Q3 24 | $567.0M | $729.0M | ||
| Q2 24 | $159.0M | $1.0B |
自由现金流BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $-625.7M | ||
| Q2 25 | — | $23.9M | ||
| Q1 25 | — | $461.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-67.3M | ||
| Q2 24 | — | $343.5M |
自由现金流率BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -29.7% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 14.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.6% | ||
| Q2 24 | — | 19.4% |
资本支出强度BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 41.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 42.7% | ||
| Q2 24 | — | 39.2% |
现金转化率BAMWEC
| Q1 26 | — | — | ||
| Q4 25 | 0.91× | 1.34× | ||
| Q3 25 | 1.08× | 3.47× | ||
| Q2 25 | 0.91× | 3.51× | ||
| Q1 25 | 0.52× | 1.60× | ||
| Q4 24 | — | 1.28× | ||
| Q3 24 | 1.06× | 3.06× | ||
| Q2 24 | 1.28× | 4.94× |
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
| Management and incentive fee revenues | $990.0M | 74% |
| Other revenues | $236.0M | 18% |
| Other | $112.0M | 8% |
WEC
| Wisconsin | $1.9B | 73% |
| Illinois | $441.2M | 17% |
| Other States | $165.1M | 7% |
| External Revenues | $74.0M | 3% |
| Otheroperatingrevenues | $8.0M | 0% |
