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Broadridge Financial Solutions（BR）与Coinbase（COIN）财务数据对比。点击上方公司名可切换其他公司
Coinbase的季度营收约是Broadridge Financial Solutions的1.0倍（$1.8B vs $1.7B），Broadridge Financial Solutions净利率更高（16.6% vs -37.4%，领先54.0%），Broadridge Financial Solutions同比增速更快（-5.4% vs -21.6%），过去两年Broadridge Financial Solutions的营收复合增速更高（10.4% vs 4.3%）
Broadridge Financial Solutions是2007年从自动数据处理公司（ADP）分拆成立的上市企业服务及金融科技企业，总部位于纽约莱克萨克塞斯，为金融行业客户提供股东委托书、年报等金融单证服务，以及线上年会等股东沟通解决方案。
Coinbase是美国知名加密货币交易所，2012年由布莱恩·阿姆斯特朗与弗雷德·埃尔萨姆联合创立。截至2024年，平台拥有超1亿用户，业务覆盖100多个国家，是美国最大加密货币交易所、全球最大比特币托管机构，托管总资产近5160亿美元，持有约12%的流通比特币及11%的质押以太币。
BR vs COIN — 直观对比
营收规模更大
COIN
是对方的1.0倍
$1.7B
营收增速更快
BR
高出16.2%
-21.6%
净利率更高
BR
高出54.0%
-37.4%
两年增速更快
BR
近两年复合增速
4.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.8B |
| 净利润 | $284.6M | $-666.7M |
| 毛利率 | 27.6% | — |
| 营业利润率 | 12.0% | 15.4% |
| 净利率 | 16.6% | -37.4% |
| 营收同比 | -5.4% | -21.6% |
| 净利润同比 | 17.1% | -151.6% |
| 每股收益（稀释后） | $2.42 | $-2.43 |
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BRCOIN
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | $2.1B | $1.5B | ||
| Q1 25 | $1.8B | $2.0B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.7B | $1.6B |
净利润BRCOIN
| Q4 25 | $284.6M | $-666.7M | ||
| Q3 25 | — | $432.6M | ||
| Q2 25 | $374.2M | $1.4B | ||
| Q1 25 | $243.1M | $65.6M | ||
| Q4 24 | $142.4M | $1.3B | ||
| Q3 24 | $79.8M | $75.5M | ||
| Q2 24 | $323.2M | $36.1M | ||
| Q1 24 | $213.7M | $1.2B |
毛利率BRCOIN
| Q4 25 | 27.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 31.8% | — | ||
| Q4 24 | 27.9% | — | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 35.5% | — | ||
| Q1 24 | 31.2% | — |
营业利润率BRCOIN
| Q4 25 | 12.0% | 15.4% | ||
| Q3 25 | — | 25.7% | ||
| Q2 25 | 24.1% | -1.6% | ||
| Q1 25 | 19.0% | 34.7% | ||
| Q4 24 | 13.3% | 45.5% | ||
| Q3 24 | 9.4% | 14.1% | ||
| Q2 24 | 22.7% | 23.7% | ||
| Q1 24 | 17.5% | 46.4% |
净利率BRCOIN
| Q4 25 | 16.6% | -37.4% | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | 18.1% | 95.4% | ||
| Q1 25 | 13.4% | 3.2% | ||
| Q4 24 | 9.0% | 56.8% | ||
| Q3 24 | 5.6% | 6.3% | ||
| Q2 24 | 16.6% | 2.5% | ||
| Q1 24 | 12.4% | 71.8% |
每股收益（稀释后）BRCOIN
| Q4 25 | $2.42 | $-2.43 | ||
| Q3 25 | — | $1.50 | ||
| Q2 25 | $3.17 | $5.14 | ||
| Q1 25 | $2.05 | $0.24 | ||
| Q4 24 | $1.20 | $4.66 | ||
| Q3 24 | $0.68 | $0.28 | ||
| Q2 24 | $2.72 | $0.14 | ||
| Q1 24 | $1.79 | $4.40 |
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 | $371.5M | $11.6B |
| 总债务越低越好 | $3.2B | $7.2B |
| 股东权益账面价值 | $2.9B | $14.8B |
| 总资产 | $8.6B | $29.7B |
| 负债/权益比越低杠杆越低 | 1.10× | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资BRCOIN
| Q4 25 | $371.5M | $11.6B | ||
| Q3 25 | — | $9.8B | ||
| Q2 25 | $562.2M | $7.5B | ||
| Q1 25 | $317.9M | $8.1B | ||
| Q4 24 | $290.6M | $8.5B | ||
| Q3 24 | $293.5M | $7.7B | ||
| Q2 24 | $305.2M | $7.2B | ||
| Q1 24 | $236.4M | $6.7B |
总债务BRCOIN
| Q4 25 | $3.2B | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | $3.3B | $4.2B | ||
| Q1 25 | $3.4B | $4.2B | ||
| Q4 24 | $3.7B | $4.2B | ||
| Q3 24 | $3.6B | $4.2B | ||
| Q2 24 | $3.4B | $4.2B | ||
| Q1 24 | $3.5B | $4.2B |
股东权益BRCOIN
| Q4 25 | $2.9B | $14.8B | ||
| Q3 25 | — | $16.0B | ||
| Q2 25 | $2.7B | $12.1B | ||
| Q1 25 | $2.4B | $10.5B | ||
| Q4 24 | $2.2B | $10.3B | ||
| Q3 24 | $2.2B | $8.7B | ||
| Q2 24 | $2.2B | $8.4B | ||
| Q1 24 | $2.3B | $8.1B |
总资产BRCOIN
| Q4 25 | $8.6B | $29.7B | ||
| Q3 25 | — | $31.4B | ||
| Q2 25 | $8.5B | $23.5B | ||
| Q1 25 | $8.3B | $21.7B | ||
| Q4 24 | $8.2B | $22.5B | ||
| Q3 24 | $8.0B | $290.6B | ||
| Q2 24 | $8.2B | $287.0B | ||
| Q1 24 | $8.2B | $348.0B |
负债/权益比BRCOIN
| Q4 25 | 1.10× | 0.49× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | 1.22× | 0.35× | ||
| Q1 25 | 1.44× | 0.40× | ||
| Q4 24 | 1.64× | 0.41× | ||
| Q3 24 | 1.63× | 0.48× | ||
| Q2 24 | 1.55× | 0.51× | ||
| Q1 24 | 1.55× | 0.52× |
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 | — | $3.1B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BRCOIN
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $-784.5M | ||
| Q2 25 | $699.7M | $328.5M | ||
| Q1 25 | $360.4M | $-182.7M | ||
| Q4 24 | $236.7M | $964.6M | ||
| Q3 24 | $-125.5M | $696.5M | ||
| Q2 24 | $721.0M | $484.2M | ||
| Q1 24 | $207.4M | $411.5M |
自由现金流BRCOIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $684.1M | — | ||
| Q1 25 | $348.9M | — | ||
| Q4 24 | $227.9M | — | ||
| Q3 24 | $-133.4M | — | ||
| Q2 24 | $703.2M | — | ||
| Q1 24 | $184.6M | — |
自由现金流率BRCOIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 33.1% | — | ||
| Q1 25 | 19.3% | — | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | -9.4% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 10.7% | — |
资本支出强度BRCOIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 1.3% | — |
现金转化率BRCOIN
| Q4 25 | — | — | ||
| Q3 25 | — | -1.81× | ||
| Q2 25 | 1.87× | 0.23× | ||
| Q1 25 | 1.48× | -2.79× | ||
| Q4 24 | 1.66× | 0.75× | ||
| Q3 24 | -1.57× | 9.23× | ||
| Q2 24 | 2.23× | 13.39× | ||
| Q1 24 | 0.97× | 0.35× |
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
BR
| Recurring Fee Revenue Investor Communication Solutions | $589.5M | 34% |
| Recurring Fee Revenue Capital Markets | $300.9M | 18% |
| Recurring Fee Revenue Regulatory | $248.7M | 15% |
| Recurring Fee Revenue Customer Communications | $189.2M | 11% |
| Recurring Fee Revenue Wealth And Investment Management | $179.7M | 10% |
| Recurring Fee Revenue Data Driven Fund Solutions | $112.7M | 7% |
| Event Driven Revenue Mutual Funds | $51.4M | 3% |
| Event Driven Revenue Equity And Other | $39.2M | 2% |
| Global Technology And Operations | $7.5M | 0% |
COIN
| Bank Servicing Consumer Net | $733.9M | 41% |
| Subscription And Circulation | $727.4M | 41% |
| Bank Servicing Institutional | $185.0M | 10% |
| Other Revenue | $71.1M | 4% |
| Bank Servicing Other | $63.8M | 4% |
| Related Party | $1.3M | 0% |
