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Brighthouse Financial, Inc.（BHF）与荷美尔食品（HRL）财务数据对比。点击上方公司名可切换其他公司
荷美尔食品的季度营收约是Brighthouse Financial, Inc.的1.9倍（$3.2B vs $1.7B），Brighthouse Financial, Inc.净利率更高（8.1% vs -1.8%，领先9.9%），Brighthouse Financial, Inc.同比增速更快（40.2% vs 1.5%），过去两年Brighthouse Financial, Inc.的营收复合增速更高（9.8% vs 3.1%）
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。
荷美尔食品是1891年于美国明尼苏达州奥斯汀成立的跨国食品加工企业，由乔治·A·荷美尔创立。品牌最初主营火腿、香肠等各类畜肉产品的包装与销售，1937年推出斯帕姆午餐肉，上世纪80年代起逐步拓展多元化包装及冷藏食品产品线。
BHF vs HRL — 直观对比
营收规模更大
HRL
是对方的1.9倍
$1.7B
营收增速更快
BHF
高出38.7%
1.5%
净利率更高
BHF
高出9.9%
-1.8%
两年增速更快
BHF
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $3.2B |
| 净利润 | $137.0M | $-56.1M |
| 毛利率 | — | 14.0% |
| 营业利润率 | 8.9% | 0.1% |
| 净利率 | 8.1% | -1.8% |
| 营收同比 | 40.2% | 1.5% |
| 净利润同比 | -79.6% | -125.5% |
| 每股收益（稀释后） | $1.84 | $-0.10 |
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BHFHRL
| Q4 25 | $1.7B | $3.2B | ||
| Q3 25 | $1.8B | $3.0B | ||
| Q2 25 | $871.0M | $2.9B | ||
| Q1 25 | $2.4B | $3.0B | ||
| Q4 24 | $1.2B | $3.1B | ||
| Q3 24 | $2.0B | $2.9B | ||
| Q2 24 | $1.4B | $2.9B | ||
| Q1 24 | — | $3.0B |
净利润BHFHRL
| Q4 25 | $137.0M | $-56.1M | ||
| Q3 25 | $479.0M | $183.7M | ||
| Q2 25 | $85.0M | $180.0M | ||
| Q1 25 | $-268.0M | $170.6M | ||
| Q4 24 | $671.0M | $220.2M | ||
| Q3 24 | $176.0M | $176.7M | ||
| Q2 24 | $34.0M | $189.3M | ||
| Q1 24 | — | $218.9M |
毛利率BHFHRL
| Q4 25 | — | 14.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | 15.9% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 17.4% | ||
| Q1 24 | — | 17.0% |
营业利润率BHFHRL
| Q4 25 | 8.9% | 0.1% | ||
| Q3 25 | 32.2% | 7.9% | ||
| Q2 25 | 10.7% | 8.6% | ||
| Q1 25 | -14.8% | 7.6% | ||
| Q4 24 | 69.2% | 9.4% | ||
| Q3 24 | 9.3% | 8.2% | ||
| Q2 24 | 1.0% | 8.7% | ||
| Q1 24 | — | 9.5% |
净利率BHFHRL
| Q4 25 | 8.1% | -1.8% | ||
| Q3 25 | 26.4% | 6.1% | ||
| Q2 25 | 9.8% | 6.2% | ||
| Q1 25 | -11.2% | 5.7% | ||
| Q4 24 | 55.7% | 7.0% | ||
| Q3 24 | 8.7% | 6.1% | ||
| Q2 24 | 2.4% | 6.6% | ||
| Q1 24 | — | 7.3% |
每股收益（稀释后）BHFHRL
| Q4 25 | $1.84 | $-0.10 | ||
| Q3 25 | $7.89 | $0.33 | ||
| Q2 25 | $1.02 | $0.33 | ||
| Q1 25 | $-5.04 | $0.31 | ||
| Q4 24 | $10.27 | $0.41 | ||
| Q3 24 | $2.47 | $0.32 | ||
| Q2 24 | $0.12 | $0.34 | ||
| Q1 24 | — | $0.40 |
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 | — | $703.6M |
| 总债务越低越好 | $3.2B | $2.9B |
| 股东权益账面价值 | $6.8B | $7.9B |
| 总资产 | $241.8B | $13.4B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.36× |
8季度趋势，按日历期对齐
现金及短期投资BHFHRL
| Q4 25 | — | $703.6M | ||
| Q3 25 | — | $630.7M | ||
| Q2 25 | — | $699.0M | ||
| Q1 25 | — | $866.4M | ||
| Q4 24 | $1.9B | $766.6M | ||
| Q3 24 | $1.8B | $561.9M | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | — | $981.9M |
总债务BHFHRL
| Q4 25 | $3.2B | $2.9B | ||
| Q3 25 | $3.2B | $2.9B | ||
| Q2 25 | $3.2B | $2.9B | ||
| Q1 25 | $3.2B | $2.9B | ||
| Q4 24 | $3.2B | $2.9B | ||
| Q3 24 | $3.2B | $2.9B | ||
| Q2 24 | $3.2B | $2.9B | ||
| Q1 24 | — | $2.4B |
股东权益BHFHRL
| Q4 25 | $6.8B | $7.9B | ||
| Q3 25 | $6.4B | $8.1B | ||
| Q2 25 | $5.7B | $8.0B | ||
| Q1 25 | $5.2B | $8.0B | ||
| Q4 24 | $5.0B | $8.0B | ||
| Q3 24 | $5.5B | $7.9B | ||
| Q2 24 | $4.1B | $7.9B | ||
| Q1 24 | — | $7.8B |
总资产BHFHRL
| Q4 25 | $241.8B | $13.4B | ||
| Q3 25 | $244.7B | $13.5B | ||
| Q2 25 | $242.6B | $13.4B | ||
| Q1 25 | $234.7B | $13.4B | ||
| Q4 24 | $238.5B | $13.4B | ||
| Q3 24 | $245.2B | $13.1B | ||
| Q2 24 | $237.4B | $14.1B | ||
| Q1 24 | — | $13.5B |
负债/权益比BHFHRL
| Q4 25 | 0.47× | 0.36× | ||
| Q3 25 | 0.50× | 0.35× | ||
| Q2 25 | 0.56× | 0.35× | ||
| Q1 25 | 0.60× | 0.36× | ||
| Q4 24 | 0.64× | 0.36× | ||
| Q3 24 | 0.57× | 0.36× | ||
| Q2 24 | 0.76× | 0.36× | ||
| Q1 24 | — | 0.30× |
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 | $322.9M |
| 自由现金流经营现金流 - 资本支出 | — | $231.4M |
| 自由现金流率自由现金流/营收 | — | 7.3% |
| 资本支出强度资本支出/营收 | — | 2.9% |
| 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 | — | $534.3M |
8季度趋势，按日历期对齐
经营现金流BHFHRL
| Q4 25 | $-3.0M | $322.9M | ||
| Q3 25 | $117.0M | $156.7M | ||
| Q2 25 | $-1.0M | $56.4M | ||
| Q1 25 | $146.0M | $309.2M | ||
| Q4 24 | $-118.0M | $408.6M | ||
| Q3 24 | $24.0M | $218.0M | ||
| Q2 24 | $334.0M | $236.1M | ||
| Q1 24 | — | $404.0M |
自由现金流BHFHRL
| Q4 25 | — | $231.4M | ||
| Q3 25 | — | $84.5M | ||
| Q2 25 | — | $-18.6M | ||
| Q1 25 | — | $237.0M | ||
| Q4 24 | — | $324.8M | ||
| Q3 24 | — | $152.5M | ||
| Q2 24 | — | $176.2M | ||
| Q1 24 | — | $356.8M |
自由现金流率BHFHRL
| Q4 25 | — | 7.3% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 7.9% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 6.1% | ||
| Q1 24 | — | 11.9% |
资本支出强度BHFHRL
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 1.6% |
现金转化率BHFHRL
| Q4 25 | -0.02× | — | ||
| Q3 25 | 0.24× | 0.85× | ||
| Q2 25 | -0.01× | 0.31× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | -0.18× | 1.86× | ||
| Q3 24 | 0.14× | 1.23× | ||
| Q2 24 | 9.82× | 1.25× | ||
| Q1 24 | — | 1.85× |
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% |
HRL
| Retail Segment | $1.9B | 60% |
| Foodservice Segment | $1.1B | 34% |
| Other | $174.7M | 5% |
