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布鲁克菲尔德资产管理（BAM）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
斑马技术的季度营收约是布鲁克菲尔德资产管理的1.4倍（$1.5B vs $1.1B），布鲁克菲尔德资产管理净利率更高（56.7% vs 4.7%，领先51.9%）
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。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
BAM vs ZBRA — 直观对比
营收规模更大
ZBRA
是对方的1.4倍
$1.1B
净利率更高
BAM
高出51.9%
4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.5B |
| 净利润 | $615.0M | $70.0M |
| 毛利率 | — | 47.3% |
| 营业利润率 | 84.2% | 9.4% |
| 净利率 | 56.7% | 4.7% |
| 营收同比 | — | 10.6% |
| 净利润同比 | — | -57.1% |
| 每股收益（稀释后） | — | $1.40 |
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BAMZBRA
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $974.0M | $1.3B | ||
| Q2 25 | $931.0M | $1.3B | ||
| Q1 25 | $954.0M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $873.0M | $1.3B | ||
| Q2 24 | $821.0M | $1.2B | ||
| Q1 24 | $786.0M | $1.2B |
净利润BAMZBRA
| Q4 25 | $615.0M | $70.0M | ||
| Q3 25 | $692.0M | $101.0M | ||
| Q2 25 | $584.0M | $112.0M | ||
| Q1 25 | $507.0M | $136.0M | ||
| Q4 24 | — | $163.0M | ||
| Q3 24 | $537.0M | $137.0M | ||
| Q2 24 | $124.0M | $113.0M | ||
| Q1 24 | $373.0M | $115.0M |
毛利率BAMZBRA
| Q4 25 | — | 47.3% | ||
| Q3 25 | — | 48.0% | ||
| Q2 25 | — | 47.6% | ||
| Q1 25 | — | 49.3% | ||
| Q4 24 | — | 48.6% | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 47.9% |
营业利润率BAMZBRA
| Q4 25 | 84.2% | 9.4% | ||
| Q3 25 | 79.1% | 13.9% | ||
| Q2 25 | 70.8% | 14.2% | ||
| Q1 25 | 61.0% | 14.9% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 72.5% | 15.2% | ||
| Q2 24 | 80.4% | 13.7% | ||
| Q1 24 | 56.5% | 13.5% |
净利率BAMZBRA
| Q4 25 | 56.7% | 4.7% | ||
| Q3 25 | 71.0% | 7.7% | ||
| Q2 25 | 62.7% | 8.7% | ||
| Q1 25 | 53.1% | 10.4% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | 61.5% | 10.9% | ||
| Q2 24 | 15.1% | 9.3% | ||
| Q1 24 | 47.5% | 9.8% |
每股收益（稀释后）BAMZBRA
| Q4 25 | — | $1.40 | ||
| Q3 25 | — | $1.97 | ||
| Q2 25 | — | $2.19 | ||
| Q1 25 | — | $2.62 | ||
| Q4 24 | — | $3.14 | ||
| Q3 24 | — | $2.64 | ||
| Q2 24 | — | $2.17 | ||
| Q1 24 | — | $2.23 |
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 | $125.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.9B | $3.6B |
| 总资产 | $17.0B | $8.5B |
| 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BAMZBRA
| Q4 25 | $1.6B | $125.0M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $480.0M | $872.0M | ||
| Q1 25 | $332.0M | $879.0M | ||
| Q4 24 | — | $901.0M | ||
| Q3 24 | — | $676.0M | ||
| Q2 24 | $10.0M | $411.0M | ||
| Q1 24 | — | $127.0M |
总债务BAMZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
股东权益BAMZBRA
| Q4 25 | $8.9B | $3.6B | ||
| Q3 25 | $8.5B | $3.7B | ||
| Q2 25 | $8.5B | $3.6B | ||
| Q1 25 | $8.5B | $3.6B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $9.0B | $3.4B | ||
| Q2 24 | $3.2B | $3.3B | ||
| Q1 24 | $2.2B | $3.2B |
总资产BAMZBRA
| Q4 25 | $17.0B | $8.5B | ||
| Q3 25 | $16.5B | $8.1B | ||
| Q2 25 | $16.1B | $7.9B | ||
| Q1 25 | $15.0B | $7.9B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | $7.7B | ||
| Q2 24 | $4.2B | $7.5B | ||
| Q1 24 | — | $7.3B |
负债/权益比BAMZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | 0.58× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.66× | ||
| Q1 24 | — | 0.66× |
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 | $357.0M |
| 自由现金流经营现金流 - 资本支出 | — | $327.0M |
| 自由现金流率自由现金流/营收 | — | 22.2% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 现金转化率经营现金流/净利润 | 0.91× | 5.10× |
| 过去12个月自由现金流最近4个季度 | — | $831.0M |
8季度趋势，按日历期对齐
经营现金流BAMZBRA
| Q4 25 | $562.0M | $357.0M | ||
| Q3 25 | $745.0M | $235.0M | ||
| Q2 25 | $529.0M | $147.0M | ||
| Q1 25 | $265.0M | $178.0M | ||
| Q4 24 | — | $306.0M | ||
| Q3 24 | $567.0M | $294.0M | ||
| Q2 24 | $159.0M | $288.0M | ||
| Q1 24 | $516.0M | $125.0M |
自由现金流BAMZBRA
| Q4 25 | — | $327.0M | ||
| Q3 25 | — | $216.0M | ||
| Q2 25 | — | $130.0M | ||
| Q1 25 | — | $158.0M | ||
| Q4 24 | — | $288.0M | ||
| Q3 24 | — | $277.0M | ||
| Q2 24 | — | $278.0M | ||
| Q1 24 | — | $111.0M |
自由现金流率BAMZBRA
| Q4 25 | — | 22.2% | ||
| Q3 25 | — | 16.4% | ||
| Q2 25 | — | 10.1% | ||
| Q1 25 | — | 12.1% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 22.8% | ||
| Q1 24 | — | 9.4% |
资本支出强度BAMZBRA
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 1.2% |
现金转化率BAMZBRA
| Q4 25 | 0.91× | 5.10× | ||
| Q3 25 | 1.08× | 2.33× | ||
| Q2 25 | 0.91× | 1.31× | ||
| Q1 25 | 0.52× | 1.31× | ||
| Q4 24 | — | 1.88× | ||
| Q3 24 | 1.06× | 2.15× | ||
| Q2 24 | 1.28× | 2.55× | ||
| Q1 24 | 1.38× | 1.09× |
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% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
