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贝莱德（BLK）与切尼尔能源（LNG）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切尼尔能源的1.3倍（$7.0B vs $5.4B），切尼尔能源净利率更高（42.8% vs 16.1%，领先26.7%），贝莱德自由现金流更多（$2.1B vs $1.3B），过去两年贝莱德的营收复合增速更高（24.5% vs 14.3%）
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。
切尼尔能源（Cheniere Energy, Inc.）是总部位于美国得克萨斯州休斯敦的液化天然气（LNG）企业，专注于液化天然气的生产与供应业务，是北美地区颇具影响力的能源行业参与者。
BLK vs LNG — 直观对比
营收规模更大
BLK
是对方的1.3倍
$5.4B
净利率更高
LNG
高出26.7%
16.1%
自由现金流更多
BLK
多$836.0M
$1.3B
两年增速更快
BLK
近两年复合增速
14.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.0B | $5.4B |
| 净利润 | $1.1B | $2.3B |
| 毛利率 | — | — |
| 营业利润率 | 23.7% | 70.8% |
| 净利率 | 16.1% | 42.8% |
| 营收同比 | — | 20.3% |
| 净利润同比 | — | 135.6% |
| 每股收益（稀释后） | $7.05 | $10.51 |
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BLKLNG
| Q4 25 | $7.0B | $5.4B | ||
| Q3 25 | $6.5B | $4.3B | ||
| Q2 25 | $5.4B | $4.5B | ||
| Q1 25 | $5.3B | $5.3B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $5.2B | $3.7B | ||
| Q2 24 | $4.8B | $3.1B | ||
| Q1 24 | $4.7B | $4.1B |
净利润BLKLNG
| Q4 25 | $1.1B | $2.3B | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $1.6B | $1.6B | ||
| Q1 25 | $1.5B | $353.0M | ||
| Q4 24 | — | $977.0M | ||
| Q3 24 | $1.6B | $893.0M | ||
| Q2 24 | $1.5B | $880.0M | ||
| Q1 24 | $1.6B | $502.0M |
营业利润率BLKLNG
| Q4 25 | 23.7% | 70.8% | ||
| Q3 25 | 30.0% | 42.3% | ||
| Q2 25 | 31.9% | 56.1% | ||
| Q1 25 | 32.2% | 18.2% | ||
| Q4 24 | — | 38.9% | ||
| Q3 24 | 38.6% | 44.7% | ||
| Q2 24 | 37.5% | 50.5% | ||
| Q1 24 | 35.8% | 28.0% |
净利率BLKLNG
| Q4 25 | 16.1% | 42.8% | ||
| Q3 25 | 20.3% | 24.4% | ||
| Q2 25 | 29.4% | 36.1% | ||
| Q1 25 | 28.6% | 6.7% | ||
| Q4 24 | — | 21.9% | ||
| Q3 24 | 31.4% | 24.2% | ||
| Q2 24 | 31.1% | 28.0% | ||
| Q1 24 | 33.3% | 12.2% |
每股收益（稀释后）BLKLNG
| Q4 25 | $7.05 | $10.51 | ||
| Q3 25 | $8.43 | $4.75 | ||
| Q2 25 | $10.19 | $7.30 | ||
| Q1 25 | $9.64 | $1.57 | ||
| Q4 24 | — | $4.30 | ||
| Q3 24 | $10.90 | $3.93 | ||
| Q2 24 | $9.99 | $3.84 | ||
| Q1 24 | $10.48 | $2.13 |
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 | $1.1B |
| 总债务越低越好 | $12.8B | $22.5B |
| 股东权益账面价值 | $55.9B | $7.9B |
| 总资产 | $170.0B | $47.9B |
| 负债/权益比越低杠杆越低 | 0.23× | 2.84× |
8季度趋势，按日历期对齐
现金及短期投资BLKLNG
| Q4 25 | $11.5B | $1.1B | ||
| Q3 25 | $10.0B | $1.1B | ||
| Q2 25 | $9.5B | $1.6B | ||
| Q1 25 | $7.7B | $2.5B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $14.0B | $2.7B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $4.4B |
总债务BLKLNG
| Q4 25 | $12.8B | $22.5B | ||
| Q3 25 | $12.8B | $22.0B | ||
| Q2 25 | $12.8B | $22.0B | ||
| Q1 25 | $12.3B | $22.5B | ||
| Q4 24 | — | $22.6B | ||
| Q3 24 | $12.4B | $22.5B | ||
| Q2 24 | — | $22.6B | ||
| Q1 24 | — | $21.4B |
股东权益BLKLNG
| Q4 25 | $55.9B | $7.9B | ||
| Q3 25 | $55.5B | $6.7B | ||
| Q2 25 | $49.1B | $6.7B | ||
| Q1 25 | $48.0B | $5.6B | ||
| Q4 24 | — | $5.7B | ||
| Q3 24 | $41.2B | $5.1B | ||
| Q2 24 | $40.3B | $4.5B | ||
| Q1 24 | $39.9B | $4.3B |
总资产BLKLNG
| Q4 25 | $170.0B | $47.9B | ||
| Q3 25 | $162.7B | $45.1B | ||
| Q2 25 | $146.5B | $44.6B | ||
| Q1 25 | $141.9B | $43.5B | ||
| Q4 24 | — | $43.9B | ||
| Q3 24 | $132.8B | $43.1B | ||
| Q2 24 | — | $42.3B | ||
| Q1 24 | — | $42.9B |
负债/权益比BLKLNG
| Q4 25 | 0.23× | 2.84× | ||
| Q3 25 | 0.23× | 3.25× | ||
| Q2 25 | 0.26× | 3.28× | ||
| Q1 25 | 0.26× | 4.03× | ||
| Q4 24 | — | 3.96× | ||
| Q3 24 | 0.30× | 4.42× | ||
| Q2 24 | — | 5.06× | ||
| Q1 24 | — | 5.04× |
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 | $2.1B |
| 自由现金流经营现金流 - 资本支出 | $2.1B | $1.3B |
| 自由现金流率自由现金流/营收 | 30.6% | 24.4% |
| 资本支出强度资本支出/营收 | 1.9% | 13.8% |
| 现金转化率经营现金流/净利润 | 2.02× | 0.89× |
| 过去12个月自由现金流最近4个季度 | $3.6B | $2.5B |
8季度趋势，按日历期对齐
经营现金流BLKLNG
| Q4 25 | $2.3B | $2.1B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.4B | $831.0M | ||
| Q1 25 | $-1.1B | $1.2B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $-408.0M | $1.2B |
自由现金流BLKLNG
| Q4 25 | $2.1B | $1.3B | ||
| Q3 25 | $1.3B | $738.0M | ||
| Q2 25 | $1.3B | $-193.0M | ||
| Q1 25 | $-1.2B | $605.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $875.0M | ||
| Q2 24 | — | $613.0M | ||
| Q1 24 | $-472.0M | $596.0M |
自由现金流率BLKLNG
| Q4 25 | 30.6% | 24.4% | ||
| Q3 25 | 20.5% | 17.2% | ||
| Q2 25 | 23.5% | -4.3% | ||
| Q1 25 | -22.9% | 11.4% | ||
| Q4 24 | — | 24.0% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | — | 19.5% | ||
| Q1 24 | -10.0% | 14.5% |
资本支出强度BLKLNG
| Q4 25 | 1.9% | 13.8% | ||
| Q3 25 | 1.2% | 16.0% | ||
| Q2 25 | 1.6% | 22.7% | ||
| Q1 25 | 1.5% | 11.8% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 14.0% | ||
| Q2 24 | — | 16.0% | ||
| Q1 24 | 1.4% | 15.8% |
现金转化率BLKLNG
| Q4 25 | 2.02× | 0.89× | ||
| Q3 25 | 1.07× | 1.36× | ||
| Q2 25 | 0.86× | 0.51× | ||
| Q1 25 | -0.75× | 3.48× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | -0.26× | 2.48× |
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% |
LNG
| Liquefied Natural Gas | $5.3B | 99% |
| Other | $103.0M | 2% |
| Regasification Service | $34.0M | 1% |
