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Brighthouse Financial, Inc.（BHF）与F&G Annuities & Life, Inc.（FG）财务数据对比。点击上方公司名可切换其他公司
F&G Annuities & Life, Inc.的季度营收约是Brighthouse Financial, Inc.的1.0倍（$1.8B vs $1.7B）。Brighthouse Financial, Inc.净利率更高（8.1% vs 7.3%，领先0.9%）。Brighthouse Financial, Inc.同比增速更快（40.2% vs 13.2%）。过去两年Brighthouse Financial, Inc.的营收复合增速更高（377.7% vs 6.1%）
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。
F&G年金人寿保险公司是一家总部位于美国爱荷华州得梅因的上市企业，成立于1959年，核心业务涵盖年金产品、人寿保险及养老金收购服务，长期为客户提供多元化的风险保障与养老财务解决方案。
BHF vs FG — 直观对比
营收规模更大
FG
是对方的1.0倍
$1.7B
营收增速更快
BHF
高出27.0%
13.2%
净利率更高
BHF
高出0.9%
7.3%
两年增速更快
BHF
近两年复合增速
6.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.8B |
| 净利润 | $137.0M | $128.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.9% | — |
| 净利率 | 8.1% | 7.3% |
| 营收同比 | 40.2% | 13.2% |
| 净利润同比 | -79.6% | -60.9% |
| 每股收益（稀释后） | $1.84 | $0.97 |
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BHFFG
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.8B | $1.7B | ||
| Q2 25 | $871.0M | $1.4B | ||
| Q1 25 | $2.4B | $908.0M | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $2.0B | $1.4B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $74.0M | $1.6B |
净利润BHFFG
| Q4 25 | $137.0M | $128.0M | ||
| Q3 25 | $479.0M | $118.0M | ||
| Q2 25 | $85.0M | $40.0M | ||
| Q1 25 | $-268.0M | $-21.0M | ||
| Q4 24 | $671.0M | $327.0M | ||
| Q3 24 | $176.0M | $-6.0M | ||
| Q2 24 | $34.0M | $203.0M | ||
| Q1 24 | $-493.0M | $115.0M |
营业利润率BHFFG
| Q4 25 | 8.9% | — | ||
| Q3 25 | 32.2% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | -14.8% | — | ||
| Q4 24 | 69.2% | — | ||
| Q3 24 | 9.3% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | -829.7% | — |
净利率BHFFG
| Q4 25 | 8.1% | 7.3% | ||
| Q3 25 | 26.4% | 7.0% | ||
| Q2 25 | 9.8% | 2.9% | ||
| Q1 25 | -11.2% | -2.3% | ||
| Q4 24 | 55.7% | 21.0% | ||
| Q3 24 | 8.7% | -0.4% | ||
| Q2 24 | 2.4% | 17.3% | ||
| Q1 24 | -666.2% | 7.3% |
每股收益（稀释后）BHFFG
| Q4 25 | $1.84 | $0.97 | ||
| Q3 25 | $7.89 | $0.85 | ||
| Q2 25 | $1.02 | $0.26 | ||
| Q1 25 | $-5.04 | $-0.20 | ||
| Q4 24 | $10.27 | $2.53 | ||
| Q3 24 | $2.47 | $-0.08 | ||
| Q2 24 | $0.12 | $1.55 | ||
| Q1 24 | $-8.22 | $0.88 |
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 | — | $1.5B |
| 总债务越低越好 | $3.2B | $2.2B |
| 股东权益账面价值 | $6.8B | $4.8B |
| 总资产 | $241.8B | $98.4B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资BHFFG
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | $1.9B | $2.3B | ||
| Q3 24 | $1.8B | $3.5B | ||
| Q2 24 | $1.4B | $3.5B | ||
| Q1 24 | $1.3B | $2.4B |
总债务BHFFG
| Q4 25 | $3.2B | $2.2B | ||
| Q3 25 | $3.2B | $2.2B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.2B | $2.2B | ||
| Q4 24 | $3.2B | $2.2B | ||
| Q3 24 | $3.2B | $2.0B | ||
| Q2 24 | $3.2B | $2.0B | ||
| Q1 24 | $3.2B | $1.7B |
股东权益BHFFG
| Q4 25 | $6.8B | $4.8B | ||
| Q3 25 | $6.4B | $4.8B | ||
| Q2 25 | $5.7B | $4.4B | ||
| Q1 25 | $5.2B | $4.4B | ||
| Q4 24 | $5.0B | $4.0B | ||
| Q3 24 | $5.5B | $4.3B | ||
| Q2 24 | $4.1B | $3.7B | ||
| Q1 24 | $4.2B | $3.5B |
总资产BHFFG
| Q4 25 | $241.8B | $98.4B | ||
| Q3 25 | $244.7B | $96.1B | ||
| Q2 25 | $242.6B | $91.8B | ||
| Q1 25 | $234.7B | $88.0B | ||
| Q4 24 | $238.5B | $85.0B | ||
| Q3 24 | $245.2B | $84.1B | ||
| Q2 24 | $237.4B | $78.5B | ||
| Q1 24 | $239.7B | $74.4B |
负债/权益比BHFFG
| Q4 25 | 0.47× | 0.47× | ||
| Q3 25 | 0.50× | 0.46× | ||
| Q2 25 | 0.56× | 0.50× | ||
| Q1 25 | 0.60× | 0.51× | ||
| Q4 24 | 0.64× | 0.55× | ||
| Q3 24 | 0.57× | 0.47× | ||
| Q2 24 | 0.76× | 0.56× | ||
| Q1 24 | 0.75× | 0.49× |
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 | $1.2B |
| 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 | -0.02× | 9.13× |
| 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BHFFG
| Q4 25 | $-3.0M | $1.2B | ||
| Q3 25 | $117.0M | $937.0M | ||
| Q2 25 | $-1.0M | $1.6B | ||
| Q1 25 | $146.0M | $956.0M | ||
| Q4 24 | $-118.0M | $1.3B | ||
| Q3 24 | $24.0M | $2.1B | ||
| Q2 24 | $334.0M | $1.1B | ||
| Q1 24 | $-530.0M | $1.5B |
现金转化率BHFFG
| Q4 25 | -0.02× | 9.13× | ||
| Q3 25 | 0.24× | 7.94× | ||
| Q2 25 | -0.01× | 40.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | 4.04× | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 9.82× | 5.20× | ||
| Q1 24 | — | 13.34× |
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% |
FG
| Reportable Segment | $1.0B | 57% |
| Other | $728.0M | 41% |
| Roar Joint Venture LLC | $24.0M | 1% |
