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Brighthouse Financial, Inc.（BHF）与李维斯（LEVI）财务数据对比。点击上方公司名可切换其他公司
李维斯的季度营收约是Brighthouse Financial, Inc.的1.0倍（$1.8B vs $1.7B），李维斯净利率更高（8.9% vs 8.1%，领先0.8%），Brighthouse Financial, Inc.同比增速更快（40.2% vs -4.0%），过去两年Brighthouse Financial, Inc.的营收复合增速更高（9.8% vs 6.5%）
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。
李维斯（Levi Strauss & Co.）是全球知名的美国服饰企业，凭借旗下Levi's品牌丹宁牛仔裤享誉全球。公司创立于1853年5月，由德裔犹太移民李维·斯特劳斯在旧金山成立，注册地为特拉华州，总部设在旧金山李维斯广场。
BHF vs LEVI — 直观对比
营收规模更大
LEVI
是对方的1.0倍
$1.7B
营收增速更快
BHF
高出44.2%
-4.0%
净利率更高
LEVI
高出0.8%
8.1%
两年增速更快
BHF
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.8B |
| 净利润 | $137.0M | $158.0M |
| 毛利率 | — | 60.8% |
| 营业利润率 | 8.9% | 11.9% |
| 净利率 | 8.1% | 8.9% |
| 营收同比 | 40.2% | -4.0% |
| 净利润同比 | -79.6% | -13.4% |
| 每股收益（稀释后） | $1.84 | $0.39 |
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BHFLEVI
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $871.0M | $1.4B | ||
| Q1 25 | $2.4B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $2.0B | $1.5B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | — | $1.6B |
净利润BHFLEVI
| Q4 25 | $137.0M | $158.0M | ||
| Q3 25 | $479.0M | $218.1M | ||
| Q2 25 | $85.0M | $67.0M | ||
| Q1 25 | $-268.0M | $135.0M | ||
| Q4 24 | $671.0M | $182.5M | ||
| Q3 24 | $176.0M | $20.7M | ||
| Q2 24 | $34.0M | $18.0M | ||
| Q1 24 | — | $-10.6M |
毛利率BHFLEVI
| Q4 25 | — | 60.8% | ||
| Q3 25 | — | 61.7% | ||
| Q2 25 | — | 62.6% | ||
| Q1 25 | — | 62.1% | ||
| Q4 24 | — | 61.3% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 60.5% | ||
| Q1 24 | — | 58.2% |
营业利润率BHFLEVI
| Q4 25 | 8.9% | 11.9% | ||
| Q3 25 | 32.2% | 10.8% | ||
| Q2 25 | 10.7% | 7.5% | ||
| Q1 25 | -14.8% | 12.5% | ||
| Q4 24 | 69.2% | 11.5% | ||
| Q3 24 | 9.3% | 2.0% | ||
| Q2 24 | 1.0% | 1.5% | ||
| Q1 24 | — | -0.0% |
净利率BHFLEVI
| Q4 25 | 8.1% | 8.9% | ||
| Q3 25 | 26.4% | 14.1% | ||
| Q2 25 | 9.8% | 4.6% | ||
| Q1 25 | -11.2% | 8.8% | ||
| Q4 24 | 55.7% | 9.9% | ||
| Q3 24 | 8.7% | 1.4% | ||
| Q2 24 | 2.4% | 1.2% | ||
| Q1 24 | — | -0.7% |
每股收益（稀释后）BHFLEVI
| Q4 25 | $1.84 | $0.39 | ||
| Q3 25 | $7.89 | $0.55 | ||
| Q2 25 | $1.02 | $0.17 | ||
| Q1 25 | $-5.04 | $0.34 | ||
| Q4 24 | $10.27 | $0.46 | ||
| Q3 24 | $2.47 | $0.05 | ||
| Q2 24 | $0.12 | $0.04 | ||
| Q1 24 | — | $-0.03 |
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 | — | $848.8M |
| 总债务越低越好 | $3.2B | $1.1B |
| 股东权益账面价值 | $6.8B | $2.3B |
| 总资产 | $241.8B | $6.8B |
| 负债/权益比越低杠杆越低 | 0.47× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资BHFLEVI
| Q4 25 | — | $848.8M | ||
| Q3 25 | — | $707.5M | ||
| Q2 25 | — | $736.7M | ||
| Q1 25 | — | $574.4M | ||
| Q4 24 | $1.9B | $690.0M | ||
| Q3 24 | $1.8B | $577.1M | ||
| Q2 24 | $1.4B | $641.4M | ||
| Q1 24 | — | $516.7M |
总债务BHFLEVI
| Q4 25 | $3.2B | $1.1B | ||
| Q3 25 | $3.2B | $1.0B | ||
| Q2 25 | $3.2B | $1.0B | ||
| Q1 25 | $3.2B | $987.4M | ||
| Q4 24 | $3.2B | $994.0M | ||
| Q3 24 | $3.2B | $1.0B | ||
| Q2 24 | $3.2B | $1.0B | ||
| Q1 24 | — | $1.0B |
股东权益BHFLEVI
| Q4 25 | $6.8B | $2.3B | ||
| Q3 25 | $6.4B | $2.2B | ||
| Q2 25 | $5.7B | $2.1B | ||
| Q1 25 | $5.2B | $2.0B | ||
| Q4 24 | $5.0B | $2.0B | ||
| Q3 24 | $5.5B | $1.9B | ||
| Q2 24 | $4.1B | $2.0B | ||
| Q1 24 | — | $2.0B |
总资产BHFLEVI
| Q4 25 | $241.8B | $6.8B | ||
| Q3 25 | $244.7B | $6.7B | ||
| Q2 25 | $242.6B | $6.5B | ||
| Q1 25 | $234.7B | $6.2B | ||
| Q4 24 | $238.5B | $6.4B | ||
| Q3 24 | $245.2B | $6.3B | ||
| Q2 24 | $237.4B | $6.2B | ||
| Q1 24 | — | $6.0B |
负债/权益比BHFLEVI
| Q4 25 | 0.47× | 0.46× | ||
| Q3 25 | 0.50× | 0.48× | ||
| Q2 25 | 0.56× | 0.49× | ||
| Q1 25 | 0.60× | 0.49× | ||
| Q4 24 | 0.64× | 0.50× | ||
| Q3 24 | 0.57× | 0.54× | ||
| Q2 24 | 0.76× | 0.51× | ||
| Q1 24 | — | 0.51× |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | — | $215.7M |
| 自由现金流率自由现金流/营收 | — | 12.2% |
| 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× | 1.69× |
| 过去12个月自由现金流最近4个季度 | — | $308.2M |
8季度趋势，按日历期对齐
经营现金流BHFLEVI
| Q4 25 | $-3.0M | $266.8M | ||
| Q3 25 | $117.0M | $24.8M | ||
| Q2 25 | $-1.0M | $185.5M | ||
| Q1 25 | $146.0M | $52.5M | ||
| Q4 24 | $-118.0M | $297.3M | ||
| Q3 24 | $24.0M | $52.3M | ||
| Q2 24 | $334.0M | $262.8M | ||
| Q1 24 | — | $286.0M |
自由现金流BHFLEVI
| Q4 25 | — | $215.7M | ||
| Q3 25 | — | $-39.4M | ||
| Q2 25 | — | $146.0M | ||
| Q1 25 | — | $-14.1M | ||
| Q4 24 | — | $231.6M | ||
| Q3 24 | — | $2.3M | ||
| Q2 24 | — | $222.6M | ||
| Q1 24 | — | $214.4M |
自由现金流率BHFLEVI
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | -2.6% | ||
| Q2 25 | — | 10.1% | ||
| Q1 25 | — | -0.9% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | — | 13.8% |
资本支出强度BHFLEVI
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 4.2% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.6% |
现金转化率BHFLEVI
| Q4 25 | -0.02× | 1.69× | ||
| Q3 25 | 0.24× | 0.11× | ||
| Q2 25 | -0.01× | 2.77× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | -0.18× | 1.63× | ||
| Q3 24 | 0.14× | 2.53× | ||
| Q2 24 | 9.82× | 14.60× | ||
| Q1 24 | — | — |
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% |
LEVI
| Other | $760.3M | 43% |
| Sales Channel Through Intermediary | $583.2M | 33% |
| Sales Channel Directly To Consumer | $376.0M | 21% |
| Beyond Yoga | $46.3M | 3% |
