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贝莱德（BLK）与Exelon（EXC）财务数据对比。点击上方公司名可切换其他公司
贝莱德的季度营收约是Exelon的1.3倍（$7.0B vs $5.4B），过去两年贝莱德的营收复合增速更高（24.5% vs 0.5%）
贝莱德是美国跨国投资企业，成立于1988年，最初主打企业风险管理与固定收益机构资产管理业务，现为全球规模最大的资产管理机构，截至2025年管理资产规模达12.5万亿美元。公司总部位于纽约，在30个国家设有70个办事处，客户遍布全球100个国家。
Exelon是总部位于美国芝加哥、在宾夕法尼亚州注册的公用事业企业，按营收计算为美国最大的电力母公司，同时是美国规模最大的受监管电力公用事业公司，服务约1000万用户，位列《财富》世界500强第187位。
BLK vs EXC — 直观对比
营收规模更大
BLK
是对方的1.3倍
$5.4B
两年增速更快
BLK
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.0B | $5.4B |
| 净利润 | $1.1B | — |
| 毛利率 | — | — |
| 营业利润率 | 23.7% | 21.9% |
| 净利率 | 16.1% | — |
| 营收同比 | — | -19.4% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $7.05 | — |
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BLKEXC
| Q1 26 | — | $5.4B | ||
| Q4 25 | $7.0B | $5.4B | ||
| Q3 25 | $6.5B | $6.7B | ||
| Q2 25 | $5.4B | $5.4B | ||
| Q1 25 | $5.3B | $6.7B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | $5.2B | $6.2B | ||
| Q2 24 | $4.8B | $5.4B |
净利润BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $594.0M | ||
| Q3 25 | $1.3B | $875.0M | ||
| Q2 25 | $1.6B | $391.0M | ||
| Q1 25 | $1.5B | $908.0M | ||
| Q4 24 | — | $647.0M | ||
| Q3 24 | $1.6B | $707.0M | ||
| Q2 24 | $1.5B | $448.0M |
营业利润率BLKEXC
| Q1 26 | — | 21.9% | ||
| Q4 25 | 23.7% | 21.9% | ||
| Q3 25 | 30.0% | 22.4% | ||
| Q2 25 | 31.9% | 17.1% | ||
| Q1 25 | 32.2% | 22.9% | ||
| Q4 24 | — | 20.0% | ||
| Q3 24 | 38.6% | 19.4% | ||
| Q2 24 | 37.5% | 17.0% |
净利率BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | 16.1% | 11.0% | ||
| Q3 25 | 20.3% | 13.0% | ||
| Q2 25 | 29.4% | 7.2% | ||
| Q1 25 | 28.6% | 13.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 31.4% | 11.5% | ||
| Q2 24 | 31.1% | 8.4% |
每股收益（稀释后）BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | $7.05 | — | ||
| Q3 25 | $8.43 | $0.86 | ||
| Q2 25 | $10.19 | $0.39 | ||
| Q1 25 | $9.64 | $0.90 | ||
| Q4 24 | — | — | ||
| Q3 24 | $10.90 | $0.70 | ||
| Q2 24 | $9.99 | $0.45 |
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 | $11.5B | $626.0M |
| 总债务越低越好 | $12.8B | $49.4B |
| 股东权益账面价值 | $55.9B | $28.8B |
| 总资产 | $170.0B | $116.6B |
| 负债/权益比越低杠杆越低 | 0.23× | 1.72× |
8季度趋势，按日历期对齐
现金及短期投资BLKEXC
| Q1 26 | — | $626.0M | ||
| Q4 25 | $11.5B | $626.0M | ||
| Q3 25 | $10.0B | $1.5B | ||
| Q2 25 | $9.5B | $724.0M | ||
| Q1 25 | $7.7B | $1.0B | ||
| Q4 24 | — | $357.0M | ||
| Q3 24 | $14.0B | $616.0M | ||
| Q2 24 | — | $934.0M |
总债务BLKEXC
| Q1 26 | — | $49.4B | ||
| Q4 25 | $12.8B | $49.4B | ||
| Q3 25 | $12.8B | — | ||
| Q2 25 | $12.8B | — | ||
| Q1 25 | $12.3B | — | ||
| Q4 24 | — | $44.7B | ||
| Q3 24 | $12.4B | — | ||
| Q2 24 | — | — |
股东权益BLKEXC
| Q1 26 | — | $28.8B | ||
| Q4 25 | $55.9B | $28.8B | ||
| Q3 25 | $55.5B | $28.1B | ||
| Q2 25 | $49.1B | $27.6B | ||
| Q1 25 | $48.0B | $27.6B | ||
| Q4 24 | — | $26.9B | ||
| Q3 24 | $41.2B | $26.6B | ||
| Q2 24 | $40.3B | $26.2B |
总资产BLKEXC
| Q1 26 | — | $116.6B | ||
| Q4 25 | $170.0B | $116.6B | ||
| Q3 25 | $162.7B | $113.5B | ||
| Q2 25 | $146.5B | $111.1B | ||
| Q1 25 | $141.9B | $109.5B | ||
| Q4 24 | — | $107.8B | ||
| Q3 24 | $132.8B | $106.1B | ||
| Q2 24 | — | $105.1B |
负债/权益比BLKEXC
| Q1 26 | — | 1.72× | ||
| Q4 25 | 0.23× | 1.72× | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | — | 1.66× | ||
| Q3 24 | 0.30× | — | ||
| Q2 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 | $2.3B | — |
| 自由现金流经营现金流 - 资本支出 | $2.1B | — |
| 自由现金流率自由现金流/营收 | 30.6% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 现金转化率经营现金流/净利润 | 2.02× | — |
| 过去12个月自由现金流最近4个季度 | $3.6B | — |
8季度趋势，按日历期对齐
经营现金流BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.2B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $-1.1B | $1.2B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.5B |
自由现金流BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $-1.2B | ||
| Q3 25 | $1.3B | $163.0M | ||
| Q2 25 | $1.3B | $-502.0M | ||
| Q1 25 | $-1.2B | $-746.0M | ||
| Q4 24 | — | $-510.0M | ||
| Q3 24 | — | $-6.0M | ||
| Q2 24 | — | $-237.0M |
自由现金流率BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | 30.6% | -22.0% | ||
| Q3 25 | 20.5% | 2.4% | ||
| Q2 25 | 23.5% | -9.3% | ||
| Q1 25 | -22.9% | -11.1% | ||
| Q4 24 | — | -9.3% | ||
| Q3 24 | — | -0.1% | ||
| Q2 24 | — | -4.4% |
资本支出强度BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 45.0% | ||
| Q3 25 | 1.2% | 31.9% | ||
| Q2 25 | 1.6% | 37.1% | ||
| Q1 25 | 1.5% | 29.0% | ||
| Q4 24 | — | 35.4% | ||
| Q3 24 | — | 27.5% | ||
| Q2 24 | — | 31.7% |
现金转化率BLKEXC
| Q1 26 | — | — | ||
| Q4 25 | 2.02× | 2.09× | ||
| Q3 25 | 1.07× | 2.63× | ||
| Q2 25 | 0.86× | 3.86× | ||
| Q1 25 | -0.75× | 1.32× | ||
| Q4 24 | — | 2.20× | ||
| Q3 24 | — | 2.39× | ||
| Q2 24 | — | 3.26× |
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
BLK
| Investment Advice | $5.3B | 75% |
| Investment Performance | $754.0M | 11% |
| Technology Services And Subscription Revenue | $531.0M | 8% |
| Distribution And Shareholder Service | $359.0M | 5% |
| Service Other | $86.0M | 1% |
EXC
暂无分部数据
