vs
贝莱德（BLK）与金德摩根（KMI）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金德摩根的1.5倍（$7.0B vs $4.8B），金德摩根净利率更高（20.7% vs 16.1%，领先4.7%），过去两年贝莱德的营收复合增速更高（24.5% vs 22.6%）
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。
金德摩根是北美规模最大的能源基础设施企业之一，核心业务为油气管道、能源储运终端的持有与运营管理，服务网络覆盖北美主要油气产区及消费市场，为能源产业提供稳定可靠的基础设施配套服务。
BLK vs KMI — 直观对比
营收规模更大
BLK
是对方的1.5倍
$4.8B
净利率更高
KMI
高出4.7%
16.1%
两年增速更快
BLK
近两年复合增速
22.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.0B | $4.8B |
| 净利润 | $1.1B | $1.0B |
| 毛利率 | — | — |
| 营业利润率 | 23.7% | 29.9% |
| 净利率 | 16.1% | 20.7% |
| 营收同比 | — | 13.8% |
| 净利润同比 | — | 34.7% |
| 每股收益（稀释后） | $7.05 | $0.44 |
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BLKKMI
| Q1 26 | — | $4.8B | ||
| Q4 25 | $7.0B | $4.0B | ||
| Q3 25 | $6.5B | $3.7B | ||
| Q2 25 | $5.4B | $3.6B | ||
| Q1 25 | $5.3B | $3.9B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $5.2B | $3.3B | ||
| Q2 24 | $4.8B | $3.2B |
净利润BLKKMI
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.1B | $996.0M | ||
| Q3 25 | $1.3B | $628.0M | ||
| Q2 25 | $1.6B | $715.0M | ||
| Q1 25 | $1.5B | $717.0M | ||
| Q4 24 | — | $667.0M | ||
| Q3 24 | $1.6B | $625.0M | ||
| Q2 24 | $1.5B | $575.0M |
营业利润率BLKKMI
| Q1 26 | — | 29.9% | ||
| Q4 25 | 23.7% | 34.0% | ||
| Q3 25 | 30.0% | 28.6% | ||
| Q2 25 | 31.9% | 31.9% | ||
| Q1 25 | 32.2% | 29.6% | ||
| Q4 24 | — | 31.0% | ||
| Q3 24 | 38.6% | 30.9% | ||
| Q2 24 | 37.5% | 32.3% |
净利率BLKKMI
| Q1 26 | — | 20.7% | ||
| Q4 25 | 16.1% | 24.8% | ||
| Q3 25 | 20.3% | 16.9% | ||
| Q2 25 | 29.4% | 19.8% | ||
| Q1 25 | 28.6% | 18.6% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | 31.4% | 19.0% | ||
| Q2 24 | 31.1% | 17.9% |
每股收益（稀释后）BLKKMI
| Q1 26 | — | $0.44 | ||
| Q4 25 | $7.05 | $0.45 | ||
| Q3 25 | $8.43 | $0.28 | ||
| Q2 25 | $10.19 | $0.32 | ||
| Q1 25 | $9.64 | $0.32 | ||
| Q4 24 | — | $0.30 | ||
| Q3 24 | $10.90 | $0.28 | ||
| Q2 24 | $9.99 | $0.26 |
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 | $72.0M |
| 总债务越低越好 | $12.8B | $31.9B |
| 股东权益账面价值 | $55.9B | $32.6B |
| 总资产 | $170.0B | $73.1B |
| 负债/权益比越低杠杆越低 | 0.23× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资BLKKMI
| Q1 26 | — | $72.0M | ||
| Q4 25 | $11.5B | $63.0M | ||
| Q3 25 | $10.0B | $71.0M | ||
| Q2 25 | $9.5B | $82.0M | ||
| Q1 25 | $7.7B | $80.0M | ||
| Q4 24 | — | $88.0M | ||
| Q3 24 | $14.0B | $108.0M | ||
| Q2 24 | — | $98.0M |
总债务BLKKMI
| Q1 26 | — | $31.9B | ||
| Q4 25 | $12.8B | — | ||
| Q3 25 | $12.8B | — | ||
| Q2 25 | $12.8B | — | ||
| Q1 25 | $12.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $12.4B | — | ||
| Q2 24 | — | — |
股东权益BLKKMI
| Q1 26 | — | $32.6B | ||
| Q4 25 | $55.9B | $31.2B | ||
| Q3 25 | $55.5B | $30.7B | ||
| Q2 25 | $49.1B | $30.8B | ||
| Q1 25 | $48.0B | $30.6B | ||
| Q4 24 | — | $30.5B | ||
| Q3 24 | $41.2B | $30.4B | ||
| Q2 24 | $40.3B | $30.3B |
总资产BLKKMI
| Q1 26 | — | $73.1B | ||
| Q4 25 | $170.0B | $72.7B | ||
| Q3 25 | $162.7B | $72.3B | ||
| Q2 25 | $146.5B | $72.4B | ||
| Q1 25 | $141.9B | $72.3B | ||
| Q4 24 | — | $71.4B | ||
| Q3 24 | $132.8B | $70.9B | ||
| Q2 24 | — | $70.7B |
负债/权益比BLKKMI
| Q1 26 | — | 0.98× | ||
| Q4 25 | 0.23× | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | — | — | ||
| 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% | 16.7% |
| 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BLKKMI
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.7B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $-1.1B | $1.2B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.7B |
自由现金流BLKKMI
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $872.0M | ||
| Q3 25 | $1.3B | $621.0M | ||
| Q2 25 | $1.3B | $1.0B | ||
| Q1 25 | $-1.2B | $396.0M | ||
| Q4 24 | — | $738.0M | ||
| Q3 24 | — | $592.0M | ||
| Q2 24 | — | $1.1B |
自由现金流率BLKKMI
| Q1 26 | — | — | ||
| Q4 25 | 30.6% | 21.7% | ||
| Q3 25 | 20.5% | 16.7% | ||
| Q2 25 | 23.5% | 27.8% | ||
| Q1 25 | -22.9% | 10.3% | ||
| Q4 24 | — | 20.7% | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | — | 34.4% |
资本支出强度BLKKMI
| Q1 26 | — | 16.7% | ||
| Q4 25 | 1.9% | 20.4% | ||
| Q3 25 | 1.2% | 21.3% | ||
| Q2 25 | 1.6% | 17.9% | ||
| Q1 25 | 1.5% | 19.8% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 18.1% |
现金转化率BLKKMI
| Q1 26 | — | — | ||
| Q4 25 | 2.02× | 1.70× | ||
| Q3 25 | 1.07× | 2.25× | ||
| Q2 25 | 0.86× | 2.31× | ||
| Q1 25 | -0.75× | 1.62× | ||
| Q4 24 | — | 2.26× | ||
| Q3 24 | — | 2.00× | ||
| Q2 24 | — | 2.93× |
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% |
KMI
暂无分部数据
