vs
Brighthouse Financial, Inc.（BHF）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
Brighthouse Financial, Inc.的季度营收约是美泰的2.0倍（$1.7B vs $862.2M），Brighthouse Financial, Inc.净利率更高（8.1% vs 7.1%，领先1.0%），Brighthouse Financial, Inc.同比增速更快（40.2% vs 4.3%），过去两年Brighthouse Financial, Inc.的营收复合增速更高（9.8% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
BHF vs MAT — 直观对比
营收规模更大
BHF
是对方的2.0倍
$862.2M
营收增速更快
BHF
高出35.9%
4.3%
净利率更高
BHF
高出1.0%
7.1%
两年增速更快
BHF
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $862.2M |
| 净利润 | $137.0M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | 8.9% | — |
| 净利率 | 8.1% | 7.1% |
| 营收同比 | 40.2% | 4.3% |
| 净利润同比 | -79.6% | 251.4% |
| 每股收益（稀释后） | $1.84 | $0.20 |
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BHFMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.8B | $1.7B | ||
| Q2 25 | $871.0M | $1.0B | ||
| Q1 25 | $2.4B | $826.6M | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $2.0B | $1.8B | ||
| Q2 24 | $1.4B | $1.1B |
净利润BHFMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $137.0M | $106.2M | ||
| Q3 25 | $479.0M | $278.4M | ||
| Q2 25 | $85.0M | $53.4M | ||
| Q1 25 | $-268.0M | $-40.3M | ||
| Q4 24 | $671.0M | $140.9M | ||
| Q3 24 | $176.0M | $372.4M | ||
| Q2 24 | $34.0M | $56.9M |
毛利率BHFMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 50.9% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.7% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 49.2% |
营业利润率BHFMAT
| Q1 26 | — | — | ||
| Q4 25 | 8.9% | 8.0% | ||
| Q3 25 | 32.2% | 21.9% | ||
| Q2 25 | 10.7% | 7.7% | ||
| Q1 25 | -14.8% | -6.4% | ||
| Q4 24 | 69.2% | 9.6% | ||
| Q3 24 | 9.3% | 26.5% | ||
| Q2 24 | 1.0% | 7.7% |
净利率BHFMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 8.1% | 6.0% | ||
| Q3 25 | 26.4% | 16.0% | ||
| Q2 25 | 9.8% | 5.2% | ||
| Q1 25 | -11.2% | -4.9% | ||
| Q4 24 | 55.7% | 8.6% | ||
| Q3 24 | 8.7% | 20.2% | ||
| Q2 24 | 2.4% | 5.3% |
每股收益（稀释后）BHFMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $1.84 | $0.32 | ||
| Q3 25 | $7.89 | $0.88 | ||
| Q2 25 | $1.02 | $0.16 | ||
| Q1 25 | $-5.04 | $-0.12 | ||
| Q4 24 | $10.27 | $0.40 | ||
| Q3 24 | $2.47 | $1.09 | ||
| Q2 24 | $0.12 | $0.17 |
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 | — | $866.0M |
| 总债务越低越好 | $3.2B | $2.3B |
| 股东权益账面价值 | $6.8B | $2.1B |
| 总资产 | $241.8B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.47× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资BHFMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $691.9M | ||
| Q2 25 | — | $870.5M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.8B | $723.5M | ||
| Q2 24 | $1.4B | $722.4M |
总债务BHFMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.2B | $2.3B | ||
| Q3 25 | $3.2B | $2.3B | ||
| Q2 25 | $3.2B | $2.3B | ||
| Q1 25 | $3.2B | $2.3B | ||
| Q4 24 | $3.2B | $2.3B | ||
| Q3 24 | $3.2B | $2.3B | ||
| Q2 24 | $3.2B | $2.3B |
股东权益BHFMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $6.8B | $2.2B | ||
| Q3 25 | $6.4B | $2.3B | ||
| Q2 25 | $5.7B | $2.2B | ||
| Q1 25 | $5.2B | $2.1B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $5.5B | $2.3B | ||
| Q2 24 | $4.1B | $2.0B |
总资产BHFMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $241.8B | $6.6B | ||
| Q3 25 | $244.7B | $6.6B | ||
| Q2 25 | $242.6B | $6.2B | ||
| Q1 25 | $234.7B | $6.2B | ||
| Q4 24 | $238.5B | $6.5B | ||
| Q3 24 | $245.2B | $6.5B | ||
| Q2 24 | $237.4B | $5.9B |
负债/权益比BHFMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.47× | 1.04× | ||
| Q3 25 | 0.50× | 1.03× | ||
| Q2 25 | 0.56× | 1.08× | ||
| Q1 25 | 0.60× | 1.10× | ||
| Q4 24 | 0.64× | 1.03× | ||
| Q3 24 | 0.57× | 1.01× | ||
| Q2 24 | 0.76× | 1.18× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | $-88.1M |
| 自由现金流率自由现金流/营收 | — | -10.2% |
| 资本支出强度资本支出/营收 | — | 7.6% |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流BHFMAT
| Q1 26 | — | — | ||
| Q4 25 | $-3.0M | $796.6M | ||
| Q3 25 | $117.0M | $72.0M | ||
| Q2 25 | $-1.0M | $-300.1M | ||
| Q1 25 | $146.0M | $24.8M | ||
| Q4 24 | $-118.0M | $862.1M | ||
| Q3 24 | $24.0M | $155.8M | ||
| Q2 24 | $334.0M | $-252.9M |
自由现金流BHFMAT
| Q1 26 | — | $-88.1M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率BHFMAT
| Q1 26 | — | -10.2% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度BHFMAT
| Q1 26 | — | 7.6% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率BHFMAT
| Q1 26 | — | — | ||
| Q4 25 | -0.02× | 7.50× | ||
| Q3 25 | 0.24× | 0.26× | ||
| Q2 25 | -0.01× | -5.62× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | 6.12× | ||
| Q3 24 | 0.14× | 0.42× | ||
| Q2 24 | 9.82× | -4.45× |
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% |
MAT
暂无分部数据
