vs
富兰克林邓普顿（BEN）与德太投资（TPG）财务数据对比。点击上方公司名可切换其他公司
富兰克林邓普顿的季度营收约是德太投资的3.3倍（$2.3B vs $715.1M）。富兰克林邓普顿净利率更高（11.0% vs 10.8%，领先0.2%）。德太投资同比增速更快（35.6% vs 3.4%）。过去两年德太投资的营收复合增速更高（18.1% vs 4.0%）
富兰克林资源（运营品牌为富兰克林邓普顿）是美国跨国投资管理控股集团，1947年创立于纽约，纽交所上市代码为BEN，命名源自创始人敬仰的本杰明·富兰克林，是全球知名的综合投资服务机构。
TPG Inc.（原称德州太平洋集团、TPG Capital）是总部位于美国得克萨斯州沃斯堡的私募股权投资机构，旗下管理的基金覆盖成长资本、风险投资、公开股权、债权投资等品类，投资领域包含消费零售、传媒电信、工业、科技、旅游休闲、医疗健康等多个赛道。
BEN vs TPG — 直观对比
营收规模更大
BEN
是对方的3.3倍
$715.1M
营收增速更快
TPG
高出32.3%
3.4%
净利率更高
BEN
高出0.2%
10.8%
两年增速更快
TPG
近两年复合增速
4.0%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $715.1M |
| 净利润 | $255.5M | $77.1M |
| 毛利率 | — | — |
| 营业利润率 | 12.1% | — |
| 净利率 | 11.0% | 10.8% |
| 营收同比 | 3.4% | 35.6% |
| 净利润同比 | 56.2% | 494.1% |
| 每股收益（稀释后） | $0.46 | $0.30 |
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BENTPG
| Q4 25 | $2.3B | $715.1M | ||
| Q3 25 | $2.3B | $596.5M | ||
| Q2 25 | $2.1B | $569.1M | ||
| Q1 25 | $2.1B | $543.5M | ||
| Q4 24 | $2.3B | $527.2M | ||
| Q3 24 | $2.2B | $524.7M | ||
| Q2 24 | $2.1B | $522.8M | ||
| Q1 24 | $2.2B | $512.3M |
净利润BENTPG
| Q4 25 | $255.5M | $77.1M | ||
| Q3 25 | $117.6M | $67.1M | ||
| Q2 25 | $92.3M | $14.9M | ||
| Q1 25 | $151.4M | $25.4M | ||
| Q4 24 | $163.6M | $13.0M | ||
| Q3 24 | $-84.7M | $9.0M | ||
| Q2 24 | $174.0M | $-14.0M | ||
| Q1 24 | $124.2M | $15.5M |
营业利润率BENTPG
| Q4 25 | 12.1% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 7.5% | — | ||
| Q1 25 | 6.9% | — | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | -6.8% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 6.0% | — |
净利率BENTPG
| Q4 25 | 11.0% | 10.8% | ||
| Q3 25 | 5.0% | 11.3% | ||
| Q2 25 | 4.5% | 2.6% | ||
| Q1 25 | 7.2% | 4.7% | ||
| Q4 24 | 7.3% | 2.5% | ||
| Q3 24 | -3.8% | 1.7% | ||
| Q2 24 | 8.2% | -2.7% | ||
| Q1 24 | 5.8% | 3.0% |
每股收益（稀释后）BENTPG
| Q4 25 | $0.46 | $0.30 | ||
| Q3 25 | $0.21 | $0.20 | ||
| Q2 25 | $0.15 | $-0.05 | ||
| Q1 25 | $0.26 | $0.00 | ||
| Q4 24 | $0.29 | $-0.04 | ||
| Q3 24 | $-0.20 | $-0.08 | ||
| Q2 24 | $0.32 | $-0.19 | ||
| Q1 24 | $0.23 | $-0.11 |
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 | — | $826.1M |
| 总债务越低越好 | $2.4B | $1.7B |
| 股东权益账面价值 | $12.1B | $4.1B |
| 总资产 | $32.5B | $13.5B |
| 负债/权益比越低杠杆越低 | 0.19× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资BENTPG
| Q4 25 | — | $826.1M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $822.0M | ||
| Q4 24 | — | $808.0M | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
总债务BENTPG
| Q4 25 | $2.4B | $1.7B | ||
| Q3 25 | $2.4B | $1.8B | ||
| Q2 25 | $2.7B | $1.6B | ||
| Q1 25 | $2.7B | $1.5B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.8B | $1.3B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $3.0B | $1.2B |
股东权益BENTPG
| Q4 25 | $12.1B | $4.1B | ||
| Q3 25 | $12.1B | $3.8B | ||
| Q2 25 | $12.2B | $3.6B | ||
| Q1 25 | $12.3B | $3.5B | ||
| Q4 24 | $12.5B | $3.6B | ||
| Q3 24 | $12.5B | $3.4B | ||
| Q2 24 | $12.9B | $3.3B | ||
| Q1 24 | $12.9B | $3.3B |
总资产BENTPG
| Q4 25 | $32.5B | $13.5B | ||
| Q3 25 | $32.4B | $13.0B | ||
| Q2 25 | $32.6B | $12.0B | ||
| Q1 25 | $32.0B | $11.3B | ||
| Q4 24 | $32.4B | $10.5B | ||
| Q3 24 | $32.5B | $10.5B | ||
| Q2 24 | $33.3B | $10.1B | ||
| Q1 24 | $32.9B | $9.9B |
负债/权益比BENTPG
| Q4 25 | 0.19× | 0.42× | ||
| Q3 25 | 0.20× | 0.47× | ||
| Q2 25 | 0.22× | 0.45× | ||
| Q1 25 | 0.22× | 0.42× | ||
| Q4 24 | 0.22× | 0.36× | ||
| Q3 24 | 0.22× | 0.39× | ||
| Q2 24 | 0.24× | 0.37× | ||
| Q1 24 | 0.24× | 0.37× |
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 | $-255.1M | $-43.7M |
| 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 | -1.00× | -0.57× |
| 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BENTPG
| Q4 25 | $-255.1M | $-43.7M | ||
| Q3 25 | $-20.7M | $492.0M | ||
| Q2 25 | $1.3B | $385.9M | ||
| Q1 25 | $-50.1M | $198.2M | ||
| Q4 24 | $-145.2M | $-188.1M | ||
| Q3 24 | $558.2M | $68.9M | ||
| Q2 24 | $528.4M | $214.6M | ||
| Q1 24 | $136.6M | $436.7M |
自由现金流BENTPG
| Q4 25 | — | — | ||
| Q3 25 | $-51.9M | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $-87.6M | — | ||
| Q4 24 | $-217.0M | — | ||
| Q3 24 | $488.4M | — | ||
| Q2 24 | $482.3M | — | ||
| Q1 24 | $94.9M | — |
自由现金流率BENTPG
| Q4 25 | — | — | ||
| Q3 25 | -2.2% | — | ||
| Q2 25 | 61.4% | — | ||
| Q1 25 | -4.1% | — | ||
| Q4 24 | -9.6% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | 22.7% | — | ||
| Q1 24 | 4.4% | — |
资本支出强度BENTPG
| Q4 25 | — | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 3.2% | — | ||
| Q3 24 | 3.2% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 1.9% | — |
现金转化率BENTPG
| Q4 25 | -1.00× | -0.57× | ||
| Q3 25 | -0.18× | 7.33× | ||
| Q2 25 | 13.89× | 25.83× | ||
| Q1 25 | -0.33× | 7.80× | ||
| Q4 24 | -0.89× | -14.49× | ||
| Q3 24 | — | 7.69× | ||
| Q2 24 | 3.04× | — | ||
| Q1 24 | 1.10× | 28.14× |
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
BEN
| Investment Advisory Management And Administrative Service | $1.8B | 79% |
| Sales And Distribution Fees | $388.7M | 17% |
| Shareholder Service | $70.9M | 3% |
| Service Other | $19.6M | 1% |
TPG
| Management Fees | $484.4M | 68% |
| Transaction Fees | $118.6M | 17% |
| Expense Reimbursements And Other | $76.3M | 11% |
| Incentive Fees | $29.0M | 4% |
| Monitoring Fees | $6.8M | 1% |
