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Bowhead Specialty Holdings Inc.（BOW）与MARKEL GROUP INC.（MKL）财务数据对比。点击上方公司名可切换其他公司
MARKEL GROUP INC.的季度营收约是Bowhead Specialty Holdings Inc.的23.6倍（$3.6B vs $151.7M）。MARKEL GROUP INC.净利率更高（16.1% vs 9.8%，领先6.3%）。MARKEL GROUP INC.自由现金流更多（$599.1M vs $58.6M）
Bowhead Specialty Holdings Inc.是一家专业保险控股企业，主营财产及意外伤害保险产品，聚焦北美地区服务不足的小众细分市场，为商业和个人客户提供定制化风险管理方案与专属保险保障服务。
Markel集团是总部位于美国弗吉尼亚州里士满的综合性企业集团，1930年最初以保险公司的身份创立，发展至今业务已覆盖保险承保、投资管理等多个板块，在全球相关行业拥有较高的市场知名度与稳定的合作网络。
BOW vs MKL — 直观对比
营收规模更大
MKL
是对方的23.6倍
$151.7M
净利率更高
MKL
高出6.3%
9.8%
自由现金流更多
MKL
多$540.4M
$58.6M
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $151.7M | $3.6B |
| 净利润 | $14.8M | $576.8M |
| 毛利率 | — | — |
| 营业利润率 | 11.7% | 22.2% |
| 净利率 | 9.8% | 16.1% |
| 营收同比 | — | -6.9% |
| 净利润同比 | — | 5.0% |
| 每股收益（稀释后） | $0.44 | $48.22 |
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BOWMKL
| Q4 25 | $151.7M | $3.6B | ||
| Q3 25 | $143.9M | $3.9B | ||
| Q2 25 | $133.3M | $4.6B | ||
| Q1 25 | $122.7M | $3.4B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | $116.8M | $4.6B | ||
| Q2 24 | $98.9M | $3.7B | ||
| Q1 24 | — | $4.5B |
净利润BOWMKL
| Q4 25 | $14.8M | $576.8M | ||
| Q3 25 | $15.2M | $751.3M | ||
| Q2 25 | $12.3M | $657.1M | ||
| Q1 25 | $11.4M | $121.7M | ||
| Q4 24 | — | $549.2M | ||
| Q3 24 | $12.1M | $905.0M | ||
| Q2 24 | $5.5M | $267.7M | ||
| Q1 24 | — | $1.0B |
营业利润率BOWMKL
| Q4 25 | 11.7% | 22.2% | ||
| Q3 25 | 13.3% | 25.7% | ||
| Q2 25 | 11.9% | 24.1% | ||
| Q1 25 | 11.8% | 8.3% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | 13.5% | 29.7% | ||
| Q2 24 | 7.5% | 11.1% | ||
| Q1 24 | — | 29.9% |
净利率BOWMKL
| Q4 25 | 9.8% | 16.1% | ||
| Q3 25 | 10.5% | 19.1% | ||
| Q2 25 | 9.3% | 14.3% | ||
| Q1 25 | 9.3% | 3.6% | ||
| Q4 24 | — | 14.3% | ||
| Q3 24 | 10.4% | 19.6% | ||
| Q2 24 | 5.6% | 7.2% | ||
| Q1 24 | — | 23.0% |
每股收益（稀释后）BOWMKL
| Q4 25 | $0.44 | $48.22 | ||
| Q3 25 | $0.45 | $59.25 | ||
| Q2 25 | $0.36 | $49.67 | ||
| Q1 25 | $0.34 | $12.08 | ||
| Q4 24 | — | $39.02 | ||
| Q3 24 | $0.36 | $66.25 | ||
| Q2 24 | $0.20 | $18.62 | ||
| Q1 24 | — | $75.43 |
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 | $193.5M | $4.0B |
| 总债务越低越好 | $146.4M | $4.3B |
| 股东权益账面价值 | $448.3M | $18.6B |
| 总资产 | $2.4B | $68.9B |
| 负债/权益比越低杠杆越低 | 0.33× | 0.23× |
8季度趋势，按日历期对齐
现金及短期投资BOWMKL
| Q4 25 | $193.5M | $4.0B | ||
| Q3 25 | $197.9M | $4.0B | ||
| Q2 25 | $114.8M | $3.7B | ||
| Q1 25 | $88.0M | $4.2B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $132.9M | $3.9B | ||
| Q2 24 | $180.3M | $3.5B | ||
| Q1 24 | — | $3.6B |
总债务BOWMKL
| Q4 25 | $146.4M | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $3.9B |
股东权益BOWMKL
| Q4 25 | $448.3M | $18.6B | ||
| Q3 25 | $430.2M | $18.0B | ||
| Q2 25 | $407.2M | $17.3B | ||
| Q1 25 | $391.0M | $17.1B | ||
| Q4 24 | — | $16.9B | ||
| Q3 24 | $364.7M | $17.0B | ||
| Q2 24 | $339.9M | $15.9B | ||
| Q1 24 | — | $15.7B |
总资产BOWMKL
| Q4 25 | $2.4B | $68.9B | ||
| Q3 25 | $2.1B | $67.4B | ||
| Q2 25 | $1.9B | $66.8B | ||
| Q1 25 | $1.8B | $64.6B | ||
| Q4 24 | — | $61.9B | ||
| Q3 24 | $1.5B | $62.3B | ||
| Q2 24 | $1.4B | $59.7B | ||
| Q1 24 | — | $57.3B |
负债/权益比BOWMKL
| Q4 25 | 0.33× | 0.23× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.28× | ||
| Q1 24 | — | 0.25× |
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 | $60.1M | $662.2M |
| 自由现金流经营现金流 - 资本支出 | $58.6M | $599.1M |
| 自由现金流率自由现金流/营收 | 38.7% | 16.7% |
| 资本支出强度资本支出/营收 | 1.0% | 1.8% |
| 现金转化率经营现金流/净利润 | 4.05× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $326.0M | $2.6B |
8季度趋势，按日历期对齐
经营现金流BOWMKL
| Q4 25 | $60.1M | $662.2M | ||
| Q3 25 | $114.7M | $1.2B | ||
| Q2 25 | $109.0M | $504.4M | ||
| Q1 25 | $47.7M | $376.2M | ||
| Q4 24 | — | $493.9M | ||
| Q3 24 | $119.4M | $890.8M | ||
| Q2 24 | — | $578.6M | ||
| Q1 24 | — | $630.7M |
自由现金流BOWMKL
| Q4 25 | $58.6M | $599.1M | ||
| Q3 25 | $113.5M | $1.2B | ||
| Q2 25 | $107.4M | $453.8M | ||
| Q1 25 | $46.5M | $335.5M | ||
| Q4 24 | — | $420.0M | ||
| Q3 24 | $118.4M | $838.9M | ||
| Q2 24 | — | $521.4M | ||
| Q1 24 | — | $558.7M |
自由现金流率BOWMKL
| Q4 25 | 38.7% | 16.7% | ||
| Q3 25 | 78.8% | 29.6% | ||
| Q2 25 | 80.6% | 9.9% | ||
| Q1 25 | 37.9% | 9.9% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | 101.4% | 18.2% | ||
| Q2 24 | — | 14.1% | ||
| Q1 24 | — | 12.5% |
资本支出强度BOWMKL
| Q4 25 | 1.0% | 1.8% | ||
| Q3 25 | 0.9% | 1.3% | ||
| Q2 25 | 1.2% | 1.1% | ||
| Q1 25 | 1.0% | 1.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 0.9% | 1.1% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.6% |
现金转化率BOWMKL
| Q4 25 | 4.05× | 1.15× | ||
| Q3 25 | 7.56× | 1.62× | ||
| Q2 25 | 8.83× | 0.77× | ||
| Q1 25 | 4.18× | 3.09× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | 9.88× | 0.98× | ||
| Q2 24 | — | 2.16× | ||
| Q1 24 | — | 0.62× |
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
BOW
暂无分部数据
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
