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黑莓（BB）与BRC Group Holdings, Inc.（RILY）财务数据对比。点击上方公司名可切换其他公司
BRC Group Holdings, Inc.的季度营收约是黑莓的1.3倍（$188.3M vs $141.8M），BRC Group Holdings, Inc.净利率更高（47.9% vs 9.7%，领先38.3%），黑莓同比增速更快（-0.8% vs -21.9%），过去两年黑莓的营收复合增速更高（17.8% vs -15.4%）
黑莓有限公司（前身为动态研究公司，简称RIM）是加拿大专注于安全通信与物联网领域的软件企业，成立于1984年。早年曾推出黑莓品牌双向寻呼机、智能手机及平板电脑产品，后续转型提供软件与服务，拥有多项核心软件应用专利。
BB vs RILY — 直观对比
营收规模更大
RILY
是对方的1.3倍
$141.8M
营收增速更快
BB
高出21.0%
-21.9%
净利率更高
RILY
高出38.3%
9.7%
两年增速更快
BB
近两年复合增速
-15.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $141.8M | $188.3M |
| 净利润 | $13.7M | $90.3M |
| 毛利率 | 77.5% | 79.5% |
| 营业利润率 | 8.4% | 32.3% |
| 净利率 | 9.7% | 47.9% |
| 营收同比 | -0.8% | -21.9% |
| 净利润同比 | 224.5% | 1710.8% |
| 每股收益（稀释后） | $0.02 | $2.78 |
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BBRILY
| Q4 25 | $141.8M | $188.3M | ||
| Q3 25 | $129.6M | $215.3M | ||
| Q2 25 | $121.7M | $188.2M | ||
| Q1 25 | $141.7M | $197.2M | ||
| Q4 24 | $143.6M | $241.0M | ||
| Q3 24 | $126.2M | $225.5M | ||
| Q2 24 | $123.4M | $256.0M | ||
| Q1 24 | $102.1M | $263.4M |
净利润BBRILY
| Q4 25 | $13.7M | $90.3M | ||
| Q3 25 | $13.3M | $91.1M | ||
| Q2 25 | $1.9M | $139.5M | ||
| Q1 25 | $-7.4M | $-10.0M | ||
| Q4 24 | $-10.5M | $-5.6M | ||
| Q3 24 | $-19.7M | $-284.4M | ||
| Q2 24 | $-41.4M | $-433.6M | ||
| Q1 24 | $-56.2M | $-49.2M |
毛利率BBRILY
| Q4 25 | 77.5% | 79.5% | ||
| Q3 25 | 74.5% | 83.7% | ||
| Q2 25 | 74.2% | 81.3% | ||
| Q1 25 | 73.5% | 81.4% | ||
| Q4 24 | 78.1% | 79.8% | ||
| Q3 24 | 70.2% | 82.1% | ||
| Q2 24 | 72.9% | 84.5% | ||
| Q1 24 | — | 85.3% |
营业利润率BBRILY
| Q4 25 | 8.4% | 32.3% | ||
| Q3 25 | 8.9% | 30.4% | ||
| Q2 25 | 1.6% | 5.7% | ||
| Q1 25 | -5.6% | -31.2% | ||
| Q4 24 | 13.6% | -69.2% | ||
| Q3 24 | 1.7% | -36.4% | ||
| Q2 24 | -10.5% | -90.8% | ||
| Q1 24 | 50.0% | -6.1% |
净利率BBRILY
| Q4 25 | 9.7% | 47.9% | ||
| Q3 25 | 10.3% | 42.3% | ||
| Q2 25 | 1.6% | 74.1% | ||
| Q1 25 | -5.2% | -5.1% | ||
| Q4 24 | -7.3% | -2.3% | ||
| Q3 24 | -15.6% | -126.1% | ||
| Q2 24 | -33.5% | -169.4% | ||
| Q1 24 | -55.0% | -18.7% |
每股收益（稀释后）BBRILY
| Q4 25 | $0.02 | $2.78 | ||
| Q3 25 | $0.02 | $2.91 | ||
| Q2 25 | $0.00 | $4.50 | ||
| Q1 25 | $-0.01 | $-0.39 | ||
| Q4 24 | $-0.02 | $-0.01 | ||
| Q3 24 | $-0.03 | $-9.39 | ||
| Q2 24 | $-0.07 | $-14.35 | ||
| Q1 24 | $-0.08 | $-1.71 |
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 | $304.2M | $226.6M |
| 总债务越低越好 | $196.2M | $1.4B |
| 股东权益账面价值 | $741.1M | $-171.5M |
| 总资产 | $1.2B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.26× | — |
8季度趋势，按日历期对齐
现金及短期投资BBRILY
| Q4 25 | $304.2M | $226.6M | ||
| Q3 25 | $290.5M | $184.2M | ||
| Q2 25 | $306.6M | $267.4M | ||
| Q1 25 | $337.8M | $138.3M | ||
| Q4 24 | $220.0M | $146.9M | ||
| Q3 24 | $211.0M | $159.2M | ||
| Q2 24 | $229.0M | $236.9M | ||
| Q1 24 | $237.1M | $190.7M |
总债务BBRILY
| Q4 25 | $196.2M | $1.4B | ||
| Q3 25 | $195.9M | $1.3B | ||
| Q2 25 | $195.6M | $1.3B | ||
| Q1 25 | $195.3M | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $194.1M | — |
股东权益BBRILY
| Q4 25 | $741.1M | $-171.5M | ||
| Q3 25 | $725.1M | $-260.5M | ||
| Q2 25 | $725.1M | $-351.7M | ||
| Q1 25 | $719.9M | $-496.8M | ||
| Q4 24 | $725.2M | $-488.2M | ||
| Q3 24 | $732.1M | $-497.6M | ||
| Q2 24 | $742.6M | $-218.3M | ||
| Q1 24 | $775.1M | $228.4M |
总资产BBRILY
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $1.2B | $1.7B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.3B | $3.2B | ||
| Q1 24 | $1.4B | $5.0B |
负债/权益比BBRILY
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.25× | — |
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 | $18.3M | $26.2M |
| 自由现金流经营现金流 - 资本支出 | $17.4M | — |
| 自由现金流率自由现金流/营收 | 12.3% | — |
| 资本支出强度资本支出/营收 | 0.6% | — |
| 现金转化率经营现金流/净利润 | 1.34× | 0.29× |
| 过去12个月自由现金流最近4个季度 | $42.8M | — |
8季度趋势，按日历期对齐
经营现金流BBRILY
| Q4 25 | $18.3M | $26.2M | ||
| Q3 25 | $3.9M | $-60.6M | ||
| Q2 25 | $-18.0M | $-25.6M | ||
| Q1 25 | $41.6M | $184.0K | ||
| Q4 24 | $6.0M | $-2.7M | ||
| Q3 24 | $-16.0M | $19.5M | ||
| Q2 24 | $-15.1M | $111.5M | ||
| Q1 24 | $-15.5M | $135.4M |
自由现金流BBRILY
| Q4 25 | $17.4M | — | ||
| Q3 25 | $3.1M | — | ||
| Q2 25 | $-18.9M | — | ||
| Q1 25 | $41.2M | — | ||
| Q4 24 | $5.2M | — | ||
| Q3 24 | $-16.5M | — | ||
| Q2 24 | $-16.5M | — | ||
| Q1 24 | $-17.6M | — |
自由现金流率BBRILY
| Q4 25 | 12.3% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | -15.5% | — | ||
| Q1 25 | 29.1% | — | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | -13.1% | — | ||
| Q2 24 | -13.4% | — | ||
| Q1 24 | -17.2% | — |
资本支出强度BBRILY
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 2.1% | — |
现金转化率BBRILY
| Q4 25 | 1.34× | 0.29× | ||
| Q3 25 | 0.29× | -0.66× | ||
| Q2 25 | -9.47× | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
