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Brighthouse Financial, Inc.（BHF）与第一太阳能（FSLR）财务数据对比。点击上方公司名可切换其他公司
Brighthouse Financial, Inc.的季度营收约是第一太阳能的1.0倍（$1.7B vs $1.7B），第一太阳能净利率更高（31.0% vs 8.1%，领先22.8%），Brighthouse Financial, Inc.同比增速更快（40.2% vs 11.1%），过去两年第一太阳能的营收复合增速更高（45.6% vs 9.8%）
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。
第一太阳能是美国上市光伏面板制造商，1990年成立时名为Solar Cells, Inc.，1999年被True North Partners收购后改为现名。公司采用碲化镉（CdTe）半导体技术生产刚性薄膜光伏面板，旗下所有生产基地均提供退役面板回收服务。
BHF vs FSLR — 直观对比
营收规模更大
BHF
是对方的1.0倍
$1.7B
营收增速更快
BHF
高出29.0%
11.1%
净利率更高
FSLR
高出22.8%
8.1%
两年增速更快
FSLR
近两年复合增速
9.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.7B |
| 净利润 | $137.0M | $520.9M |
| 毛利率 | — | 39.5% |
| 营业利润率 | 8.9% | 32.6% |
| 净利率 | 8.1% | 31.0% |
| 营收同比 | 40.2% | 11.1% |
| 净利润同比 | -79.6% | 32.5% |
| 每股收益（稀释后） | $1.84 | $4.84 |
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BHFFSLR
| Q4 25 | $1.7B | $1.7B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $871.0M | $1.1B | ||
| Q1 25 | $2.4B | $844.6M | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $2.0B | $887.7M | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | — | $794.1M |
净利润BHFFSLR
| Q4 25 | $137.0M | $520.9M | ||
| Q3 25 | $479.0M | $455.9M | ||
| Q2 25 | $85.0M | $341.9M | ||
| Q1 25 | $-268.0M | $209.5M | ||
| Q4 24 | $671.0M | $393.1M | ||
| Q3 24 | $176.0M | $313.0M | ||
| Q2 24 | $34.0M | $349.4M | ||
| Q1 24 | — | $236.6M |
毛利率BHFFSLR
| Q4 25 | — | 39.5% | ||
| Q3 25 | — | 38.3% | ||
| Q2 25 | — | 45.6% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | — | 37.5% | ||
| Q3 24 | — | 50.2% | ||
| Q2 24 | — | 49.4% | ||
| Q1 24 | — | 43.6% |
营业利润率BHFFSLR
| Q4 25 | 8.9% | 32.6% | ||
| Q3 25 | 32.2% | 29.2% | ||
| Q2 25 | 10.7% | 33.0% | ||
| Q1 25 | -14.8% | 26.2% | ||
| Q4 24 | 69.2% | 30.2% | ||
| Q3 24 | 9.3% | 36.3% | ||
| Q2 24 | 1.0% | 36.9% | ||
| Q1 24 | — | 30.6% |
净利率BHFFSLR
| Q4 25 | 8.1% | 31.0% | ||
| Q3 25 | 26.4% | 28.6% | ||
| Q2 25 | 9.8% | 31.2% | ||
| Q1 25 | -11.2% | 24.8% | ||
| Q4 24 | 55.7% | 26.0% | ||
| Q3 24 | 8.7% | 35.3% | ||
| Q2 24 | 2.4% | 34.6% | ||
| Q1 24 | — | 29.8% |
每股收益（稀释后）BHFFSLR
| Q4 25 | $1.84 | $4.84 | ||
| Q3 25 | $7.89 | $4.24 | ||
| Q2 25 | $1.02 | $3.18 | ||
| Q1 25 | $-5.04 | $1.95 | ||
| Q4 24 | $10.27 | $3.66 | ||
| Q3 24 | $2.47 | $2.91 | ||
| Q2 24 | $0.12 | $3.25 | ||
| Q1 24 | — | $2.20 |
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 | — | $2.8B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $6.8B | $9.5B |
| 总资产 | $241.8B | $13.3B |
| 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BHFFSLR
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $837.6M | ||
| Q4 24 | $1.9B | $1.6B | ||
| Q3 24 | $1.8B | $1.0B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | — | $1.7B |
总债务BHFFSLR
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | — | — |
股东权益BHFFSLR
| Q4 25 | $6.8B | $9.5B | ||
| Q3 25 | $6.4B | $9.0B | ||
| Q2 25 | $5.7B | $8.5B | ||
| Q1 25 | $5.2B | $8.2B | ||
| Q4 24 | $5.0B | $8.0B | ||
| Q3 24 | $5.5B | $7.6B | ||
| Q2 24 | $4.1B | $7.3B | ||
| Q1 24 | — | $6.9B |
总资产BHFFSLR
| Q4 25 | $241.8B | $13.3B | ||
| Q3 25 | $244.7B | $13.5B | ||
| Q2 25 | $242.6B | $12.9B | ||
| Q1 25 | $234.7B | $12.1B | ||
| Q4 24 | $238.5B | $12.1B | ||
| Q3 24 | $245.2B | $11.4B | ||
| Q2 24 | $237.4B | $11.0B | ||
| Q1 24 | — | $10.8B |
负债/权益比BHFFSLR
| 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× | — | ||
| Q1 24 | — | — |
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 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 63.6% |
| 资本支出强度资本支出/营收 | — | 10.2% |
| 现金转化率经营现金流/净利润 | -0.02× | 2.38× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流BHFFSLR
| Q4 25 | $-3.0M | $1.2B | ||
| Q3 25 | $117.0M | $1.3B | ||
| Q2 25 | $-1.0M | $149.6M | ||
| Q1 25 | $146.0M | $-608.0M | ||
| Q4 24 | $-118.0M | $811.0M | ||
| Q3 24 | $24.0M | $-53.7M | ||
| Q2 24 | $334.0M | $193.0M | ||
| Q1 24 | — | $267.7M |
自由现金流BHFFSLR
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $-138.6M | ||
| Q1 25 | — | $-813.9M | ||
| Q4 24 | — | $497.5M | ||
| Q3 24 | — | $-487.7M | ||
| Q2 24 | — | $-172.1M | ||
| Q1 24 | — | $-145.7M |
自由现金流率BHFFSLR
| Q4 25 | — | 63.6% | ||
| Q3 25 | — | 67.1% | ||
| Q2 25 | — | -12.6% | ||
| Q1 25 | — | -96.4% | ||
| Q4 24 | — | 32.9% | ||
| Q3 24 | — | -54.9% | ||
| Q2 24 | — | -17.0% | ||
| Q1 24 | — | -18.4% |
资本支出强度BHFFSLR
| Q4 25 | — | 10.2% | ||
| Q3 25 | — | 12.8% | ||
| Q2 25 | — | 26.3% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 20.7% | ||
| Q3 24 | — | 48.9% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 52.1% |
现金转化率BHFFSLR
| Q4 25 | -0.02× | 2.38× | ||
| Q3 25 | 0.24× | 2.79× | ||
| Q2 25 | -0.01× | 0.44× | ||
| Q1 25 | — | -2.90× | ||
| Q4 24 | -0.18× | 2.06× | ||
| Q3 24 | 0.14× | -0.17× | ||
| Q2 24 | 9.82× | 0.55× | ||
| Q1 24 | — | 1.13× |
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% |
FSLR
暂无分部数据
