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Brighthouse Financial, Inc.（BHF）与Toast, Inc.（TOST）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Toast, Inc.的1.0倍（$1.7B vs $1.6B），Brighthouse Financial, Inc.净利率更高（8.1% vs 6.2%，领先1.9%），Brighthouse Financial, Inc.同比增速更快（40.2% vs 22.0%），过去两年Toast, Inc.的营收复合增速更高（23.3% 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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
BHF vs TOST — 直观对比
营收规模更大
BHF
是对方的1.0倍
$1.6B
营收增速更快
BHF
高出18.1%
22.0%
净利率更高
BHF
高出1.9%
6.2%
两年增速更快
TOST
近两年复合增速
9.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.6B |
| 净利润 | $137.0M | $101.0M |
| 毛利率 | — | 25.9% |
| 营业利润率 | 8.9% | 5.2% |
| 净利率 | 8.1% | 6.2% |
| 营收同比 | 40.2% | 22.0% |
| 净利润同比 | -79.6% | 215.6% |
| 每股收益（稀释后） | $1.84 | $0.18 |
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BHFTOST
| Q4 25 | $1.7B | $1.6B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $871.0M | $1.6B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $2.0B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | — | $1.1B |
净利润BHFTOST
| Q4 25 | $137.0M | $101.0M | ||
| Q3 25 | $479.0M | $105.0M | ||
| Q2 25 | $85.0M | $80.0M | ||
| Q1 25 | $-268.0M | $56.0M | ||
| Q4 24 | $671.0M | $32.0M | ||
| Q3 24 | $176.0M | $56.0M | ||
| Q2 24 | $34.0M | $14.0M | ||
| Q1 24 | — | $-83.0M |
毛利率BHFTOST
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 23.2% |
营业利润率BHFTOST
| Q4 25 | 8.9% | 5.2% | ||
| Q3 25 | 32.2% | 5.1% | ||
| Q2 25 | 10.7% | 5.2% | ||
| Q1 25 | -14.8% | 3.2% | ||
| Q4 24 | 69.2% | 2.5% | ||
| Q3 24 | 9.3% | 2.6% | ||
| Q2 24 | 1.0% | 0.4% | ||
| Q1 24 | — | -5.2% |
净利率BHFTOST
| Q4 25 | 8.1% | 6.2% | ||
| Q3 25 | 26.4% | 6.4% | ||
| Q2 25 | 9.8% | 5.2% | ||
| Q1 25 | -11.2% | 4.2% | ||
| Q4 24 | 55.7% | 2.4% | ||
| Q3 24 | 8.7% | 4.3% | ||
| Q2 24 | 2.4% | 1.1% | ||
| Q1 24 | — | -7.7% |
每股收益（稀释后）BHFTOST
| Q4 25 | $1.84 | $0.18 | ||
| Q3 25 | $7.89 | $0.16 | ||
| Q2 25 | $1.02 | $0.13 | ||
| Q1 25 | $-5.04 | $0.09 | ||
| Q4 24 | $10.27 | $0.09 | ||
| Q3 24 | $2.47 | $0.07 | ||
| Q2 24 | $0.12 | $0.02 | ||
| Q1 24 | — | $-0.15 |
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 | — | $1.4B |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $6.8B | $2.1B |
| 总资产 | $241.8B | $3.1B |
| 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BHFTOST
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $1.9B | $903.0M | ||
| Q3 24 | $1.8B | $761.0M | ||
| Q2 24 | $1.4B | $691.0M | ||
| Q1 24 | — | $578.0M |
总债务BHFTOST
| 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BHFTOST
| Q4 25 | $6.8B | $2.1B | ||
| Q3 25 | $6.4B | $2.0B | ||
| Q2 25 | $5.7B | $1.8B | ||
| Q1 25 | $5.2B | $1.7B | ||
| Q4 24 | $5.0B | $1.5B | ||
| Q3 24 | $5.5B | $1.4B | ||
| Q2 24 | $4.1B | $1.3B | ||
| Q1 24 | — | $1.2B |
总资产BHFTOST
| Q4 25 | $241.8B | $3.1B | ||
| Q3 25 | $244.7B | $3.0B | ||
| Q2 25 | $242.6B | $2.8B | ||
| Q1 25 | $234.7B | $2.6B | ||
| Q4 24 | $238.5B | $2.4B | ||
| Q3 24 | $245.2B | $2.2B | ||
| Q2 24 | $237.4B | $2.2B | ||
| Q1 24 | — | $2.1B |
负债/权益比BHFTOST
| 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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | — | $178.0M |
| 自由现金流率自由现金流/营收 | — | 10.9% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | -0.02× | 1.92× |
| 过去12个月自由现金流最近4个季度 | — | $608.0M |
8季度趋势，按日历期对齐
经营现金流BHFTOST
| Q4 25 | $-3.0M | $194.0M | ||
| Q3 25 | $117.0M | $165.0M | ||
| Q2 25 | $-1.0M | $223.0M | ||
| Q1 25 | $146.0M | $79.0M | ||
| Q4 24 | $-118.0M | $147.0M | ||
| Q3 24 | $24.0M | $109.0M | ||
| Q2 24 | $334.0M | $124.0M | ||
| Q1 24 | — | $-20.0M |
自由现金流BHFTOST
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | — | $-33.0M |
自由现金流率BHFTOST
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | -3.1% |
资本支出强度BHFTOST
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.2% |
现金转化率BHFTOST
| Q4 25 | -0.02× | 1.92× | ||
| Q3 25 | 0.24× | 1.57× | ||
| Q2 25 | -0.01× | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | -0.18× | 4.59× | ||
| Q3 24 | 0.14× | 1.95× | ||
| Q2 24 | 9.82× | 8.86× | ||
| 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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
