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BRUNSWICK CORP（BC）与景顺（IVZ）财务数据对比。点击上方公司名可切换其他公司
景顺的季度营收约是BRUNSWICK CORP的1.3倍（$1.7B vs $1.3B），BRUNSWICK CORP净利率更高（1.4% vs -58.9%，领先60.3%），BRUNSWICK CORP同比增速更快（15.5% vs 6.2%），景顺自由现金流更多（$432.2M vs $83.6M），过去两年景顺的营收复合增速更高（7.1% vs -1.1%）
美国Brunswick公司创立于1845年，专注于多品类产品的研发、生产与营销，旗下拥有知名海事品牌水星海事（Mercury Marine）等多个品牌。目前集团在24个国家拥有超1.3万名员工，2024年销售额达52亿美元，全球总部位于伊利诺伊州芝加哥北郊的梅塔瓦。
景顺是总部位于美国佐治亚州亚特兰大的独立投资管理企业，在全球20个国家设有分支机构，旗下运营景顺、Invesco Perpetual、PowerShares等品牌，普通股为标普500指数成分股，于纽约证券交易所挂牌交易。
BC vs IVZ — 直观对比
营收规模更大
IVZ
是对方的1.3倍
$1.3B
营收增速更快
BC
高出9.3%
6.2%
净利率更高
BC
高出60.3%
-58.9%
自由现金流更多
IVZ
多$348.6M
$83.6M
两年增速更快
IVZ
近两年复合增速
-1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.7B |
| 净利润 | $18.7M | $-995.9M |
| 毛利率 | 23.1% | — |
| 营业利润率 | 3.1% | -86.2% |
| 净利率 | 1.4% | -58.9% |
| 营收同比 | 15.5% | 6.2% |
| 净利润同比 | 122.7% | -575.8% |
| 每股收益（稀释后） | $0.32 | $-2.61 |
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BCIVZ
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.4B | $1.5B |
净利润BCIVZ
| Q4 25 | $18.7M | $-995.9M | ||
| Q3 25 | $-235.5M | $356.4M | ||
| Q2 25 | $59.3M | $197.4M | ||
| Q1 25 | $20.2M | $171.1M | ||
| Q4 24 | $-82.5M | $209.3M | ||
| Q3 24 | $44.6M | $55.0M | ||
| Q2 24 | $100.0M | $132.2M | ||
| Q1 24 | $68.0M | $141.5M |
毛利率BCIVZ
| Q4 25 | 23.1% | — | ||
| Q3 25 | 25.8% | — | ||
| Q2 25 | 25.5% | — | ||
| Q1 25 | 24.9% | — | ||
| Q4 24 | 21.9% | — | ||
| Q3 24 | 26.2% | — | ||
| Q2 24 | 27.1% | — | ||
| Q1 24 | 27.4% | — |
营业利润率BCIVZ
| Q4 25 | 3.1% | -86.2% | ||
| Q3 25 | -17.8% | 16.5% | ||
| Q2 25 | 7.1% | 14.1% | ||
| Q1 25 | 4.6% | 18.1% | ||
| Q4 24 | -4.8% | 19.6% | ||
| Q3 24 | 7.7% | 6.6% | ||
| Q2 24 | 11.0% | 13.9% | ||
| Q1 24 | 8.1% | 14.4% |
净利率BCIVZ
| Q4 25 | 1.4% | -58.9% | ||
| Q3 25 | -17.3% | 21.7% | ||
| Q2 25 | 4.1% | 13.0% | ||
| Q1 25 | 1.7% | 11.2% | ||
| Q4 24 | -7.1% | 13.1% | ||
| Q3 24 | 3.5% | 3.6% | ||
| Q2 24 | 6.9% | 8.9% | ||
| Q1 24 | 5.0% | 9.6% |
每股收益（稀释后）BCIVZ
| Q4 25 | $0.32 | $-2.61 | ||
| Q3 25 | $-3.59 | $0.66 | ||
| Q2 25 | $0.89 | $-0.03 | ||
| Q1 25 | $0.30 | $0.38 | ||
| Q4 24 | $-1.21 | $0.46 | ||
| Q3 24 | $0.67 | $0.12 | ||
| Q2 24 | $1.48 | $0.29 | ||
| Q1 24 | $0.99 | $0.31 |
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 | $256.8M | $1.0B |
| 总债务越低越好 | $2.1B | $1.8B |
| 股东权益账面价值 | $1.6B | $12.2B |
| 总资产 | $5.3B | $27.1B |
| 负债/权益比越低杠杆越低 | 1.30× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资BCIVZ
| Q4 25 | $256.8M | $1.0B | ||
| Q3 25 | $297.7M | $973.1M | ||
| Q2 25 | $315.7M | $922.7M | ||
| Q1 25 | $286.7M | $821.7M | ||
| Q4 24 | $269.0M | $986.5M | ||
| Q3 24 | $284.1M | $1.0B | ||
| Q2 24 | $494.5M | $878.5M | ||
| Q1 24 | $548.4M | $895.7M |
总债务BCIVZ
| Q4 25 | $2.1B | $1.8B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $964.8M | ||
| Q4 24 | $2.4B | $890.6M | ||
| Q3 24 | — | $890.3M | ||
| Q2 24 | — | $890.1M | ||
| Q1 24 | — | $1.3B |
股东权益BCIVZ
| Q4 25 | $1.6B | $12.2B | ||
| Q3 25 | $1.6B | $14.0B | ||
| Q2 25 | $1.9B | $13.9B | ||
| Q1 25 | $1.9B | $14.7B | ||
| Q4 24 | $1.9B | $14.6B | ||
| Q3 24 | $2.0B | $14.8B | ||
| Q2 24 | $2.0B | $14.6B | ||
| Q1 24 | $2.0B | $14.6B |
总资产BCIVZ
| Q4 25 | $5.3B | $27.1B | ||
| Q3 25 | $5.4B | $28.4B | ||
| Q2 25 | $5.8B | $28.5B | ||
| Q1 25 | $5.9B | $28.1B | ||
| Q4 24 | $5.7B | $27.0B | ||
| Q3 24 | $6.0B | $27.5B | ||
| Q2 24 | $6.4B | $27.2B | ||
| Q1 24 | $6.5B | $28.1B |
负债/权益比BCIVZ
| Q4 25 | 1.30× | 0.15× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | 1.25× | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | 0.09× |
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 | $132.9M | $455.8M |
| 自由现金流经营现金流 - 资本支出 | $83.6M | $432.2M |
| 自由现金流率自由现金流/营收 | 6.3% | 25.5% |
| 资本支出强度资本支出/营收 | 3.7% | 1.4% |
| 现金转化率经营现金流/净利润 | 7.11× | — |
| 过去12个月自由现金流最近4个季度 | $396.3M | $1.4B |
8季度趋势，按日历期对齐
经营现金流BCIVZ
| Q4 25 | $132.9M | $455.8M | ||
| Q3 25 | $140.4M | $606.2M | ||
| Q2 25 | $316.2M | $547.9M | ||
| Q1 25 | $-27.4M | $-84.6M | ||
| Q4 24 | $306.4M | $316.9M | ||
| Q3 24 | $67.4M | $438.4M | ||
| Q2 24 | $211.0M | $489.1M | ||
| Q1 24 | $-153.4M | $-54.4M |
自由现金流BCIVZ
| Q4 25 | $83.6M | $432.2M | ||
| Q3 25 | $106.5M | $586.4M | ||
| Q2 25 | $271.3M | $530.4M | ||
| Q1 25 | $-65.1M | $-108.0M | ||
| Q4 24 | $276.1M | $309.9M | ||
| Q3 24 | $31.4M | $410.0M | ||
| Q2 24 | $163.9M | $462.4M | ||
| Q1 24 | $-207.4M | $-75.4M |
自由现金流率BCIVZ
| Q4 25 | 6.3% | 25.5% | ||
| Q3 25 | 7.8% | 35.7% | ||
| Q2 25 | 18.7% | 35.0% | ||
| Q1 25 | -5.3% | -7.1% | ||
| Q4 24 | 23.9% | 19.5% | ||
| Q3 24 | 2.5% | 27.1% | ||
| Q2 24 | 11.4% | 31.2% | ||
| Q1 24 | -15.2% | -5.1% |
资本支出强度BCIVZ
| Q4 25 | 3.7% | 1.4% | ||
| Q3 25 | 2.5% | 1.2% | ||
| Q2 25 | 3.1% | 1.2% | ||
| Q1 25 | 3.1% | 1.5% | ||
| Q4 24 | 2.6% | 0.4% | ||
| Q3 24 | 2.8% | 1.9% | ||
| Q2 24 | 3.3% | 1.8% | ||
| Q1 24 | 4.0% | 1.4% |
现金转化率BCIVZ
| Q4 25 | 7.11× | — | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | 5.33× | 2.78× | ||
| Q1 25 | -1.36× | -0.49× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | 1.51× | 7.97× | ||
| Q2 24 | 2.11× | 3.70× | ||
| Q1 24 | -2.26× | -0.38× |
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
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
IVZ
| Investment Advice | $1.2B | 73% |
| Distribution And Shareholder Service | $382.7M | 23% |
| Financial Service Other | $51.0M | 3% |
| Investment Performance | $28.9M | 2% |
