vs
百通（BDC）与大都会人寿（MET）财务数据对比。点击上方公司名可切换其他公司
百通的季度营收约是大都会人寿的1.2倍（$720.1M vs $600.0M），大都会人寿净利率更高（134.8% vs 9.4%，领先125.4%），百通同比增速更快（8.1% vs 7.9%），过去两年百通的营收复合增速更高（15.9% vs 2.0%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
大都会人寿（MetLife）是全球规模领先的保险、年金及员工福利服务提供商之一，创立于1868年，业务覆盖超60个国家和地区，服务约9000万客户，2018年位列《财富》美国500强营收排行榜第43位。
BDC vs MET — 直观对比
营收规模更大
BDC
是对方的1.2倍
$600.0M
营收增速更快
BDC
高出0.2%
7.9%
净利率更高
MET
高出125.4%
9.4%
两年增速更快
BDC
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $720.1M | $600.0M |
| 净利润 | $67.9M | $809.0M |
| 毛利率 | 36.6% | — |
| 营业利润率 | 12.2% | — |
| 净利率 | 9.4% | 134.8% |
| 营收同比 | 8.1% | 7.9% |
| 净利润同比 | 16.3% | -36.3% |
| 每股收益（稀释后） | $1.70 | $1.18 |
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BDCMET
| Q4 25 | $720.1M | $600.0M | ||
| Q3 25 | $698.2M | $621.0M | ||
| Q2 25 | $672.0M | $604.0M | ||
| Q1 25 | $624.9M | $611.0M | ||
| Q4 24 | $666.0M | $556.0M | ||
| Q3 24 | $654.9M | $554.0M | ||
| Q2 24 | $604.3M | $558.0M | ||
| Q1 24 | $535.7M | $577.0M |
净利润BDCMET
| Q4 25 | $67.9M | $809.0M | ||
| Q3 25 | $56.7M | $896.0M | ||
| Q2 25 | $61.0M | $729.0M | ||
| Q1 25 | $51.9M | $945.0M | ||
| Q4 24 | $58.4M | $1.3B | ||
| Q3 24 | $53.7M | $1.3B | ||
| Q2 24 | $49.0M | $946.0M | ||
| Q1 24 | $37.3M | $867.0M |
毛利率BDCMET
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — | ||
| Q1 24 | 37.6% | — |
营业利润率BDCMET
| Q4 25 | 12.2% | — | ||
| Q3 25 | 10.9% | — | ||
| Q2 25 | 11.8% | — | ||
| Q1 25 | 11.6% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 11.5% | — | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | 9.9% | — |
净利率BDCMET
| Q4 25 | 9.4% | 134.8% | ||
| Q3 25 | 8.1% | 144.3% | ||
| Q2 25 | 9.1% | 120.7% | ||
| Q1 25 | 8.3% | 154.7% | ||
| Q4 24 | 8.8% | 228.6% | ||
| Q3 24 | 8.2% | 242.2% | ||
| Q2 24 | 8.1% | 169.5% | ||
| Q1 24 | 7.0% | 150.3% |
每股收益（稀释后）BDCMET
| Q4 25 | $1.70 | $1.18 | ||
| Q3 25 | $1.41 | $1.22 | ||
| Q2 25 | $1.53 | $1.03 | ||
| Q1 25 | $1.27 | $1.28 | ||
| Q4 24 | $1.41 | $1.75 | ||
| Q3 24 | $1.30 | $1.81 | ||
| Q2 24 | $1.19 | $1.28 | ||
| Q1 24 | $0.90 | $1.10 |
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 | $389.9M | $25.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $28.4B |
| 总资产 | $3.5B | $745.2B |
| 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BDCMET
| Q4 25 | $389.9M | $25.6B | ||
| Q3 25 | $314.3M | $26.2B | ||
| Q2 25 | $301.5M | $27.5B | ||
| Q1 25 | $259.0M | $26.9B | ||
| Q4 24 | $370.3M | $25.2B | ||
| Q3 24 | $323.0M | $26.4B | ||
| Q2 24 | $564.8M | $24.6B | ||
| Q1 24 | $506.8M | $24.7B |
股东权益BDCMET
| Q4 25 | $1.3B | $28.4B | ||
| Q3 25 | $1.2B | $28.9B | ||
| Q2 25 | $1.2B | $27.7B | ||
| Q1 25 | $1.2B | $27.5B | ||
| Q4 24 | $1.3B | $27.4B | ||
| Q3 24 | $1.2B | $30.9B | ||
| Q2 24 | $1.2B | $27.3B | ||
| Q1 24 | $1.2B | $28.5B |
总资产BDCMET
| Q4 25 | $3.5B | $745.2B | ||
| Q3 25 | $3.4B | $719.7B | ||
| Q2 25 | $3.4B | $702.5B | ||
| Q1 25 | $3.3B | $688.3B | ||
| Q4 24 | $3.3B | $677.5B | ||
| Q3 24 | $3.3B | $705.0B | ||
| Q2 24 | $3.5B | $675.7B | ||
| Q1 24 | $3.1B | $677.6B |
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 | $160.4M | $7.1B |
| 自由现金流经营现金流 - 资本支出 | $121.3M | — |
| 自由现金流率自由现金流/营收 | 16.8% | — |
| 资本支出强度资本支出/营收 | 5.4% | — |
| 现金转化率经营现金流/净利润 | 2.36× | 8.75× |
| 过去12个月自由现金流最近4个季度 | $218.7M | — |
8季度趋势，按日历期对齐
经营现金流BDCMET
| Q4 25 | $160.4M | $7.1B | ||
| Q3 25 | $105.0M | $3.6B | ||
| Q2 25 | $82.0M | $2.2B | ||
| Q1 25 | $7.4M | $4.3B | ||
| Q4 24 | $174.7M | $4.6B | ||
| Q3 24 | $91.7M | $4.2B | ||
| Q2 24 | $83.0M | $3.5B | ||
| Q1 24 | $2.7M | $2.3B |
自由现金流BDCMET
| Q4 25 | $121.3M | — | ||
| Q3 25 | $65.3M | — | ||
| Q2 25 | $56.9M | — | ||
| Q1 25 | $-24.8M | — | ||
| Q4 24 | $116.4M | — | ||
| Q3 24 | $67.2M | — | ||
| Q2 24 | $61.0M | — | ||
| Q1 24 | $-21.5M | — |
自由现金流率BDCMET
| Q4 25 | 16.8% | — | ||
| Q3 25 | 9.4% | — | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | -4.0% | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 10.1% | — | ||
| Q1 24 | -4.0% | — |
资本支出强度BDCMET
| Q4 25 | 5.4% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 5.2% | — | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.6% | — | ||
| Q1 24 | 4.5% | — |
现金转化率BDCMET
| Q4 25 | 2.36× | 8.75× | ||
| Q3 25 | 1.85× | 3.98× | ||
| Q2 25 | 1.34× | 3.00× | ||
| Q1 25 | 0.14× | 4.51× | ||
| Q4 24 | 2.99× | 3.63× | ||
| Q3 24 | 1.71× | 3.11× | ||
| Q2 24 | 1.69× | 3.69× | ||
| Q1 24 | 0.07× | 2.69× |
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
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
MET
| Other | $165.0M | 28% |
| Prepaidlegalplansandadministrativeonlycontracts | $158.0M | 26% |
| Vision Fee For Service Arrangements | $140.0M | 23% |
| Administrative Service | $76.0M | 13% |
| Distribution Service | $36.0M | 6% |
| Feebasedinvestmentmanagementservices | $25.0M | 4% |
