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Brighthouse Financial, Inc.（BHF）与Calumet, Inc.（CLMT）财务数据对比。点击上方公司名可切换其他公司
Brighthouse Financial, Inc.的季度营收约是Calumet, Inc.的1.6倍（$1.7B vs $1.0B），Brighthouse Financial, Inc.净利率更高（8.1% vs -3.6%，领先11.7%）
Brighthouse Financial是总部位于美国北卡罗来纳州夏洛特的保险公司，核心业务为销售年金和人寿保险产品。截至2018年3月，该公司是美国规模领先的年金和人寿保险提供商之一，总资产达2190亿美元，有效保单及年金合约数量约260万份。
Calumet是总部位于美国的特种产品企业，专注于生产和分销高价值碳氢化合物与特种化学品，产品覆盖特种油、润滑剂、蜡制品及可再生燃料解决方案，服务北美及全球的工业、消费、交通等下游领域。
BHF vs CLMT — 直观对比
营收规模更大
BHF
是对方的1.6倍
$1.0B
净利率更高
BHF
高出11.7%
-3.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.0B |
| 净利润 | $137.0M | $-37.3M |
| 毛利率 | — | -0.3% |
| 营业利润率 | 8.9% | -6.2% |
| 净利率 | 8.1% | -3.6% |
| 营收同比 | 40.2% | — |
| 净利润同比 | -79.6% | — |
| 每股收益（稀释后） | $1.84 | $-0.43 |
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BHFCLMT
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $871.0M | $1.0B | ||
| Q1 25 | $2.4B | $993.9M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $2.0B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q4 23 | $1.4B | — |
净利润BHFCLMT
| Q4 25 | $137.0M | $-37.3M | ||
| Q3 25 | $479.0M | $313.4M | ||
| Q2 25 | $85.0M | $-147.9M | ||
| Q1 25 | $-268.0M | $-162.0M | ||
| Q4 24 | $671.0M | — | ||
| Q3 24 | $176.0M | $-100.6M | ||
| Q2 24 | $34.0M | $-39.1M | ||
| Q4 23 | $-916.0M | — |
毛利率BHFCLMT
| Q4 25 | — | -0.3% | ||
| Q3 25 | — | 34.7% | ||
| Q2 25 | — | -4.2% | ||
| Q1 25 | — | -8.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 5.6% | ||
| Q4 23 | — | — |
营业利润率BHFCLMT
| Q4 25 | 8.9% | -6.2% | ||
| Q3 25 | 32.2% | 30.0% | ||
| Q2 25 | 10.7% | -9.8% | ||
| Q1 25 | -14.8% | -4.9% | ||
| Q4 24 | 69.2% | — | ||
| Q3 24 | 9.3% | -5.2% | ||
| Q2 24 | 1.0% | 0.5% | ||
| Q4 23 | -83.9% | — |
净利率BHFCLMT
| Q4 25 | 8.1% | -3.6% | ||
| Q3 25 | 26.4% | 29.1% | ||
| Q2 25 | 9.8% | -14.4% | ||
| Q1 25 | -11.2% | -16.3% | ||
| Q4 24 | 55.7% | — | ||
| Q3 24 | 8.7% | -9.1% | ||
| Q2 24 | 2.4% | -3.4% | ||
| Q4 23 | -65.4% | — |
每股收益（稀释后）BHFCLMT
| Q4 25 | $1.84 | $-0.43 | ||
| Q3 25 | $7.89 | $3.61 | ||
| Q2 25 | $1.02 | $-1.70 | ||
| Q1 25 | $-5.04 | $-1.87 | ||
| Q4 24 | $10.27 | — | ||
| Q3 24 | $2.47 | $-1.18 | ||
| Q2 24 | $0.12 | $-0.48 | ||
| Q4 23 | $-14.55 | — |
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 | — | $125.1M |
| 总债务越低越好 | $3.2B | $2.1B |
| 股东权益账面价值 | $6.8B | $-732.7M |
| 总资产 | $241.8B | $2.7B |
| 负债/权益比越低杠杆越低 | 0.47× | — |
8季度趋势，按日历期对齐
现金及短期投资BHFCLMT
| Q4 25 | — | $125.1M | ||
| Q3 25 | — | $94.6M | ||
| Q2 25 | — | $110.6M | ||
| Q1 25 | — | $123.4M | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | $34.6M | ||
| Q2 24 | $1.4B | $7.0M | ||
| Q4 23 | $1.2B | — |
总债务BHFCLMT
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $3.2B | $2.1B | ||
| Q2 25 | $3.2B | $2.1B | ||
| Q1 25 | $3.2B | $2.3B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | $1.7B | ||
| Q2 24 | $3.2B | — | ||
| Q4 23 | $3.2B | — |
股东权益BHFCLMT
| Q4 25 | $6.8B | $-732.7M | ||
| Q3 25 | $6.4B | $-695.3M | ||
| Q2 25 | $5.7B | $-1.0B | ||
| Q1 25 | $5.2B | $-862.3M | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.5B | $-672.2M | ||
| Q2 24 | $4.1B | $-566.4M | ||
| Q4 23 | $4.9B | — |
总资产BHFCLMT
| Q4 25 | $241.8B | $2.7B | ||
| Q3 25 | $244.7B | $2.7B | ||
| Q2 25 | $242.6B | $2.8B | ||
| Q1 25 | $234.7B | $2.8B | ||
| Q4 24 | $238.5B | — | ||
| Q3 24 | $245.2B | $2.6B | ||
| Q2 24 | $237.4B | $100 | ||
| Q4 23 | $236.3B | — |
负债/权益比BHFCLMT
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.56× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.76× | — | ||
| Q4 23 | 0.64× | — |
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 | $-3.0M | $116.5M |
| 自由现金流经营现金流 - 资本支出 | — | $103.8M |
| 自由现金流率自由现金流/营收 | — | 10.0% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | -0.02× | — |
| 过去12个月自由现金流最近4个季度 | — | $56.6M |
8季度趋势，按日历期对齐
经营现金流BHFCLMT
| Q4 25 | $-3.0M | $116.5M | ||
| Q3 25 | $117.0M | $23.5M | ||
| Q2 25 | $-1.0M | $-1.8M | ||
| Q1 25 | $146.0M | $-29.3M | ||
| Q4 24 | $-118.0M | — | ||
| Q3 24 | $24.0M | $-15.5M | ||
| Q2 24 | $334.0M | — | ||
| Q4 23 | $152.0M | — |
自由现金流BHFCLMT
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $15.1M | ||
| Q2 25 | — | $-15.4M | ||
| Q1 25 | — | $-46.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-32.2M | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — |
自由现金流率BHFCLMT
| Q4 25 | — | 10.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | -1.5% | ||
| Q1 25 | — | -4.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -2.9% | ||
| Q2 24 | — | — | ||
| Q4 23 | — | — |
资本支出强度BHFCLMT
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.2% | ||
| Q4 23 | — | — |
现金转化率BHFCLMT
| Q4 25 | -0.02× | — | ||
| Q3 25 | 0.24× | 0.07× | ||
| Q2 25 | -0.01× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 9.82× | — | ||
| Q4 23 | — | — |
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
BHF
| Annuities | $926.0M | 55% |
| Runoff | $319.0M | 19% |
| Life | $298.0M | 18% |
| Other | $78.0M | 5% |
| Distribution Service | $66.0M | 4% |
| Accident And Health Insurance Segment | $2.0M | 0% |
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
