vs
TopBuild Corp（BLD）与WHITE MOUNTAINS INSURANCE GROUP LTD（WTM）财务数据对比。点击上方公司名可切换其他公司
WHITE MOUNTAINS INSURANCE GROUP LTD的季度营收约是TopBuild Corp的1.1倍（$1.6B vs $1.5B），WHITE MOUNTAINS INSURANCE GROUP LTD净利率更高（52.1% vs 7.0%，领先45.1%），WHITE MOUNTAINS INSURANCE GROUP LTD同比增速更快（348.0% vs 13.2%），过去两年WHITE MOUNTAINS INSURANCE GROUP LTD的营收复合增速更高（57.4% vs 7.8%）
HashiCorp是总部位于美国加利福尼亚州旧金山的软件企业，2012年由米切尔·桥本与阿蒙·达德加创立，采用免费增值商业模式，为开发、运维及安全从业人员提供云基础设施配置、防护、运行与连接相关的工具及产品。
怀特山保险集团是一家多元化保险及相关金融服务控股企业，总部位于百慕大汉密尔顿，1999年10月25日从美国特拉华州迁册至当前注册地，大部分业务通过旗下保险子公司及其他关联机构开展，覆盖多个保险及金融服务细分赛道。
BLD vs WTM — 直观对比
营收规模更大
WTM
是对方的1.1倍
$1.5B
营收增速更快
WTM
高出334.8%
13.2%
净利率更高
WTM
高出45.1%
7.0%
两年增速更快
WTM
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.6B |
| 净利润 | $104.5M | $835.8M |
| 毛利率 | 27.2% | 97.1% |
| 营业利润率 | 12.1% | 56.2% |
| 净利率 | 7.0% | 52.1% |
| 营收同比 | 13.2% | 348.0% |
| 净利润同比 | -30.6% | 741.0% |
| 每股收益（稀释后） | $3.69 | $325.02 |
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BLDWTM
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.4B | $864.2M | ||
| Q2 25 | $1.3B | $689.2M | ||
| Q1 25 | $1.2B | $577.8M | ||
| Q4 24 | $1.3B | $358.0M | ||
| Q3 24 | $1.4B | $839.1M | ||
| Q2 24 | $1.4B | $395.4M | ||
| Q1 24 | $1.3B | $647.3M |
净利润BLDWTM
| Q4 25 | $104.5M | $835.8M | ||
| Q3 25 | $142.2M | $113.8M | ||
| Q2 25 | $151.6M | $122.9M | ||
| Q1 25 | $123.4M | $33.9M | ||
| Q4 24 | $150.5M | $-130.4M | ||
| Q3 24 | $169.0M | $179.0M | ||
| Q2 24 | $150.7M | $-54.6M | ||
| Q1 24 | $152.4M | $236.4M |
毛利率BLDWTM
| Q4 25 | 27.2% | 97.1% | ||
| Q3 25 | 30.1% | 93.6% | ||
| Q2 25 | 30.4% | 93.8% | ||
| Q1 25 | 28.5% | 98.7% | ||
| Q4 24 | 29.9% | 97.9% | ||
| Q3 24 | 30.7% | 99.1% | ||
| Q2 24 | 31.0% | 98.2% | ||
| Q1 24 | 30.3% | 98.8% |
营业利润率BLDWTM
| Q4 25 | 12.1% | 56.2% | ||
| Q3 25 | 15.4% | 20.7% | ||
| Q2 25 | 16.9% | 25.6% | ||
| Q1 25 | 14.4% | 12.5% | ||
| Q4 24 | 16.6% | -33.7% | ||
| Q3 24 | 17.8% | 28.5% | ||
| Q2 24 | 15.4% | -8.8% | ||
| Q1 24 | 16.8% | 35.9% |
净利率BLDWTM
| Q4 25 | 7.0% | 52.1% | ||
| Q3 25 | 10.2% | 13.2% | ||
| Q2 25 | 11.7% | 17.8% | ||
| Q1 25 | 10.0% | 5.9% | ||
| Q4 24 | 11.5% | -36.4% | ||
| Q3 24 | 12.3% | 21.3% | ||
| Q2 24 | 11.0% | -13.8% | ||
| Q1 24 | 11.9% | 36.5% |
每股收益（稀释后）BLDWTM
| Q4 25 | $3.69 | $325.02 | ||
| Q3 25 | $5.04 | $44.18 | ||
| Q2 25 | $5.32 | $47.75 | ||
| Q1 25 | $4.23 | $13.19 | ||
| Q4 24 | $5.07 | $-50.98 | ||
| Q3 24 | $5.65 | $69.68 | ||
| Q2 24 | $4.78 | $-21.24 | ||
| Q1 24 | $4.79 | $92.33 |
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 | $184.7M | — |
| 总债务越低越好 | $2.8B | $837.0M |
| 股东权益账面价值 | $2.3B | $5.4B |
| 总资产 | $6.6B | $12.3B |
| 负债/权益比越低杠杆越低 | 1.23× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资BLDWTM
| Q4 25 | $184.7M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $842.5M | — | ||
| Q1 25 | $308.8M | — | ||
| Q4 24 | $400.3M | — | ||
| Q3 24 | $257.3M | — | ||
| Q2 24 | $463.2M | — | ||
| Q1 24 | $968.8M | — |
总债务BLDWTM
| Q4 25 | $2.8B | $837.0M | ||
| Q3 25 | $2.9B | $870.4M | ||
| Q2 25 | $1.9B | $694.6M | ||
| Q1 25 | $1.4B | $676.1M | ||
| Q4 24 | $1.4B | $562.5M | ||
| Q3 24 | $1.4B | $544.9M | ||
| Q2 24 | $1.4B | $530.2M | ||
| Q1 24 | $1.4B | $532.1M |
股东权益BLDWTM
| Q4 25 | $2.3B | $5.4B | ||
| Q3 25 | $2.2B | $4.8B | ||
| Q2 25 | $2.1B | $4.6B | ||
| Q1 25 | $2.1B | $4.5B | ||
| Q4 24 | $2.2B | $4.5B | ||
| Q3 24 | $2.1B | $4.6B | ||
| Q2 24 | $2.4B | $4.4B | ||
| Q1 24 | $2.7B | $4.5B |
总资产BLDWTM
| Q4 25 | $6.6B | $12.3B | ||
| Q3 25 | $6.4B | $12.3B | ||
| Q2 25 | $5.1B | $11.8B | ||
| Q1 25 | $4.6B | $11.0B | ||
| Q4 24 | $4.7B | $9.9B | ||
| Q3 24 | $4.7B | $10.3B | ||
| Q2 24 | $4.9B | $10.2B | ||
| Q1 24 | $5.3B | $9.6B |
负债/权益比BLDWTM
| Q4 25 | 1.23× | 0.15× | ||
| Q3 25 | 1.29× | 0.18× | ||
| Q2 25 | 0.88× | 0.15× | ||
| Q1 25 | 0.65× | 0.15× | ||
| Q4 24 | 0.62× | 0.13× | ||
| Q3 24 | 0.66× | 0.12× | ||
| Q2 24 | 0.59× | 0.12× | ||
| Q1 24 | 0.52× | 0.12× |
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 | $176.7M | $53.9M |
| 自由现金流经营现金流 - 资本支出 | $159.4M | — |
| 自由现金流率自由现金流/营收 | 10.7% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 1.69× | 0.06× |
| 过去12个月自由现金流最近4个季度 | $696.9M | — |
8季度趋势，按日历期对齐
经营现金流BLDWTM
| Q4 25 | $176.7M | $53.9M | ||
| Q3 25 | $233.3M | $359.3M | ||
| Q2 25 | $193.7M | $177.5M | ||
| Q1 25 | $152.6M | $-40.2M | ||
| Q4 24 | $266.2M | $64.1M | ||
| Q3 24 | $240.7M | $269.4M | ||
| Q2 24 | $90.4M | $216.8M | ||
| Q1 24 | $178.8M | $36.5M |
自由现金流BLDWTM
| Q4 25 | $159.4M | — | ||
| Q3 25 | $216.2M | — | ||
| Q2 25 | $182.2M | — | ||
| Q1 25 | $139.2M | — | ||
| Q4 24 | $253.7M | — | ||
| Q3 24 | $219.8M | — | ||
| Q2 24 | $74.3M | — | ||
| Q1 24 | $158.9M | — |
自由现金流率BLDWTM
| Q4 25 | 10.7% | — | ||
| Q3 25 | 15.5% | — | ||
| Q2 25 | 14.0% | — | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 19.3% | — | ||
| Q3 24 | 16.0% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 12.4% | — |
资本支出强度BLDWTM
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 1.6% | — |
现金转化率BLDWTM
| Q4 25 | 1.69× | 0.06× | ||
| Q3 25 | 1.64× | 3.16× | ||
| Q2 25 | 1.28× | 1.44× | ||
| Q1 25 | 1.24× | -1.19× | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 1.42× | 1.51× | ||
| Q2 24 | 0.60× | — | ||
| Q1 24 | 1.17× | 0.15× |
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
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
WTM
暂无分部数据
