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贝莱德（BLK）与FISERV INC（FISV）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FISERV INC的1.3倍（$7.0B vs $5.3B），贝莱德净利率更高（16.1% vs 15.3%，领先0.7%），贝莱德自由现金流更多（$2.1B vs $1.5B），过去两年贝莱德的营收复合增速更高（24.5% vs 4.0%）
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。
Fiserv是总部位于美国威斯康星州密尔沃基的跨国金融科技企业，面向银行机构提供借记卡、信用卡交易处理、忠诚度计划管理、贷款服务、电子账单支付、电汇及ACH转账、支票存款、ATM交易处理等解决方案，同时生产借记卡、信用卡及POS终端设备。
BLK vs FISV — 直观对比
营收规模更大
BLK
是对方的1.3倍
$5.3B
净利率更高
BLK
高出0.7%
15.3%
自由现金流更多
BLK
多$645.0M
$1.5B
两年增速更快
BLK
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.0B | $5.3B |
| 净利润 | $1.1B | $811.0M |
| 毛利率 | — | — |
| 营业利润率 | 23.7% | 24.4% |
| 净利率 | 16.1% | 15.3% |
| 营收同比 | — | 0.6% |
| 净利润同比 | — | -13.5% |
| 每股收益（稀释后） | $7.05 | $1.51 |
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BLKFISV
| Q4 25 | $7.0B | $5.3B | ||
| Q3 25 | $6.5B | $5.3B | ||
| Q2 25 | $5.4B | $5.5B | ||
| Q1 25 | $5.3B | $5.1B | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | $5.2B | $5.2B | ||
| Q2 24 | $4.8B | $5.1B | ||
| Q1 24 | $4.7B | $4.9B |
净利润BLKFISV
| Q4 25 | $1.1B | $811.0M | ||
| Q3 25 | $1.3B | $792.0M | ||
| Q2 25 | $1.6B | $1.0B | ||
| Q1 25 | $1.5B | $851.0M | ||
| Q4 24 | — | $938.0M | ||
| Q3 24 | $1.6B | $564.0M | ||
| Q2 24 | $1.5B | $894.0M | ||
| Q1 24 | $1.6B | $735.0M |
营业利润率BLKFISV
| Q4 25 | 23.7% | 24.4% | ||
| Q3 25 | 30.0% | 27.3% | ||
| Q2 25 | 31.9% | 30.7% | ||
| Q1 25 | 32.2% | 27.2% | ||
| Q4 24 | — | 31.8% | ||
| Q3 24 | 38.6% | 30.7% | ||
| Q2 24 | 37.5% | 28.0% | ||
| Q1 24 | 35.8% | 24.2% |
净利率BLKFISV
| Q4 25 | 16.1% | 15.3% | ||
| Q3 25 | 20.3% | 15.0% | ||
| Q2 25 | 29.4% | 18.6% | ||
| Q1 25 | 28.6% | 16.6% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | 31.4% | 10.8% | ||
| Q2 24 | 31.1% | 17.5% | ||
| Q1 24 | 33.3% | 15.1% |
每股收益（稀释后）BLKFISV
| Q4 25 | $7.05 | $1.51 | ||
| Q3 25 | $8.43 | $1.46 | ||
| Q2 25 | $10.19 | $1.86 | ||
| Q1 25 | $9.64 | $1.51 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | $10.90 | $0.98 | ||
| Q2 24 | $9.99 | $1.53 | ||
| Q1 24 | $10.48 | $1.24 |
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 | $798.0M |
| 总债务越低越好 | $12.8B | $27.8B |
| 股东权益账面价值 | $55.9B | $25.8B |
| 总资产 | $170.0B | $80.1B |
| 负债/权益比越低杠杆越低 | 0.23× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资BLKFISV
| Q4 25 | $11.5B | $798.0M | ||
| Q3 25 | $10.0B | $1.1B | ||
| Q2 25 | $9.5B | $999.0M | ||
| Q1 25 | $7.7B | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $14.0B | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
总债务BLKFISV
| Q4 25 | $12.8B | $27.8B | ||
| Q3 25 | $12.8B | $28.9B | ||
| Q2 25 | $12.8B | $28.1B | ||
| Q1 25 | $12.3B | $27.0B | ||
| Q4 24 | — | $23.7B | ||
| Q3 24 | $12.4B | $24.1B | ||
| Q2 24 | — | $24.4B | ||
| Q1 24 | — | $23.8B |
股东权益BLKFISV
| Q4 25 | $55.9B | $25.8B | ||
| Q3 25 | $55.5B | $25.1B | ||
| Q2 25 | $49.1B | $25.2B | ||
| Q1 25 | $48.0B | $25.9B | ||
| Q4 24 | — | $27.1B | ||
| Q3 24 | $41.2B | $27.8B | ||
| Q2 24 | $40.3B | $28.2B | ||
| Q1 24 | $39.9B | $28.8B |
总资产BLKFISV
| Q4 25 | $170.0B | $80.1B | ||
| Q3 25 | $162.7B | $79.4B | ||
| Q2 25 | $146.5B | $81.5B | ||
| Q1 25 | $141.9B | $80.4B | ||
| Q4 24 | — | $77.2B | ||
| Q3 24 | $132.8B | $79.8B | ||
| Q2 24 | — | $93.4B | ||
| Q1 24 | — | $92.7B |
负债/权益比BLKFISV
| Q4 25 | 0.23× | 1.08× | ||
| Q3 25 | 0.23× | 1.15× | ||
| Q2 25 | 0.26× | 1.11× | ||
| Q1 25 | 0.26× | 1.04× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | 0.30× | 0.87× | ||
| Q2 24 | — | 0.87× | ||
| Q1 24 | — | 0.82× |
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 | $1.9B |
| 自由现金流经营现金流 - 资本支出 | $2.1B | $1.5B |
| 自由现金流率自由现金流/营收 | 30.6% | 28.4% |
| 资本支出强度资本支出/营收 | 1.9% | 8.4% |
| 现金转化率经营现金流/净利润 | 2.02× | 2.40× |
| 过去12个月自由现金流最近4个季度 | $3.6B | $4.3B |
8季度趋势，按日历期对齐
经营现金流BLKFISV
| Q4 25 | $2.3B | $1.9B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $-1.1B | $648.0M | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | $-408.0M | $831.0M |
自由现金流BLKFISV
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $-1.2B | $313.0M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $993.0M | ||
| Q1 24 | $-472.0M | $411.0M |
自由现金流率BLKFISV
| Q4 25 | 30.6% | 28.4% | ||
| Q3 25 | 20.5% | 24.7% | ||
| Q2 25 | 23.5% | 21.5% | ||
| Q1 25 | -22.9% | 6.1% | ||
| Q4 24 | — | 34.7% | ||
| Q3 24 | — | 35.2% | ||
| Q2 24 | — | 19.4% | ||
| Q1 24 | -10.0% | 8.4% |
资本支出强度BLKFISV
| Q4 25 | 1.9% | 8.4% | ||
| Q3 25 | 1.2% | 9.6% | ||
| Q2 25 | 1.6% | 8.7% | ||
| Q1 25 | 1.5% | 6.5% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 7.7% | ||
| Q2 24 | — | 6.8% | ||
| Q1 24 | 1.4% | 8.6% |
现金转化率BLKFISV
| Q4 25 | 2.02× | 2.40× | ||
| Q3 25 | 1.07× | 2.28× | ||
| Q2 25 | 0.86× | 1.62× | ||
| Q1 25 | -0.75× | 0.76× | ||
| Q4 24 | — | 2.37× | ||
| Q3 24 | — | 3.97× | ||
| Q2 24 | — | 1.50× | ||
| Q1 24 | -0.26× | 1.13× |
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% |
FISV
| Small Business | $1.7B | 32% |
| Products | $1.0B | 19% |
| Digital Payments | $960.0M | 18% |
| Issuing | $792.0M | 15% |
| Enterprise | $587.0M | 11% |
| Processing | $265.0M | 5% |
| Affiliated Entity | $18.0M | 0% |
