vs
Brown & Brown（BRO）与Cheniere Energy Partners, L.P.（CQP）财务数据对比。点击上方公司名可切换其他公司
Cheniere Energy Partners, L.P.的季度营收约是Brown & Brown的1.8倍（$2.9B vs $1.6B），Cheniere Energy Partners, L.P.净利率更高（44.2% vs 16.5%，领先27.7%），Brown & Brown同比增速更快（35.8% vs 18.3%），Cheniere Energy Partners, L.P.自由现金流更多（$864.0M vs $424.0M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 12.6%）
Brown & Brown是总部位于美国佛罗里达州代托纳比奇的保险经纪公司，是美国规模最大的独立保险中介机构之一，面向企业、政府机构、专业组织、行业协会及个人客户提供风险管理解决方案、保险产品及相关服务。
本公司为油气领域经营主体，营收数据以十亿美元为统计单位，通常由企业自行披露，同时也会由中立可靠的权威媒体公开报道。受汇率波动、合同结算、年中产品或服务调整等因素影响，已发布数据后续可能进行修订或重述。除特殊说明外，财年区间为每年1月1日至12月31日。
BRO vs CQP — 直观对比
营收规模更大
CQP
是对方的1.8倍
$1.6B
营收增速更快
BRO
高出17.5%
18.3%
净利率更高
CQP
高出27.7%
16.5%
自由现金流更多
CQP
多$440.0M
$424.0M
两年增速更快
BRO
近两年复合增速
12.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.9B |
| 净利润 | $265.0M | $1.3B |
| 毛利率 | — | — |
| 营业利润率 | — | 50.5% |
| 净利率 | 16.5% | 44.2% |
| 营收同比 | 35.8% | 18.3% |
| 净利润同比 | 26.8% | 106.6% |
| 每股收益（稀释后） | $0.55 | — |
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BROCQP
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.6B | $2.4B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.4B | $3.0B | ||
| Q4 24 | $1.2B | $2.5B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.2B | $1.9B | ||
| Q1 24 | $1.3B | $2.3B |
净利润BROCQP
| Q4 25 | $265.0M | $1.3B | ||
| Q3 25 | $227.0M | $506.0M | ||
| Q2 25 | $231.0M | $553.0M | ||
| Q1 25 | $331.0M | $641.0M | ||
| Q4 24 | $209.0M | $623.0M | ||
| Q3 24 | $234.0M | $635.0M | ||
| Q2 24 | $257.0M | $570.0M | ||
| Q1 24 | $293.0M | $682.0M |
营业利润率BROCQP
| Q4 25 | — | 50.5% | ||
| Q3 25 | — | 29.0% | ||
| Q2 25 | — | 29.1% | ||
| Q1 25 | — | 27.6% | ||
| Q4 24 | 23.3% | 33.0% | ||
| Q3 24 | 26.7% | 40.2% | ||
| Q2 24 | 29.4% | 40.4% | ||
| Q1 24 | 28.9% | 38.1% |
净利率BROCQP
| Q4 25 | 16.5% | 44.2% | ||
| Q3 25 | 14.1% | 21.0% | ||
| Q2 25 | 18.0% | 22.5% | ||
| Q1 25 | 23.6% | 21.4% | ||
| Q4 24 | 17.7% | 25.3% | ||
| Q3 24 | 19.7% | 30.9% | ||
| Q2 24 | 21.8% | 30.1% | ||
| Q1 24 | 23.3% | 29.7% |
每股收益（稀释后）BROCQP
| Q4 25 | $0.55 | — | ||
| Q3 25 | $0.68 | — | ||
| Q2 25 | $0.78 | — | ||
| Q1 25 | $1.15 | — | ||
| Q4 24 | $0.73 | — | ||
| Q3 24 | $0.81 | — | ||
| Q2 24 | $0.90 | — | ||
| Q1 24 | $1.02 | — |
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 | $1.1B | $182.0M |
| 总债务越低越好 | $7.6B | $14.2B |
| 股东权益账面价值 | $12.6B | — |
| 总资产 | $30.0B | $17.4B |
| 负债/权益比越低杠杆越低 | 0.61× | — |
8季度趋势，按日历期对齐
现金及短期投资BROCQP
| Q4 25 | $1.1B | $182.0M | ||
| Q3 25 | $1.2B | $121.0M | ||
| Q2 25 | $8.9B | $108.0M | ||
| Q1 25 | $669.0M | $94.0M | ||
| Q4 24 | $685.0M | $270.0M | ||
| Q3 24 | $968.0M | $331.0M | ||
| Q2 24 | $1.1B | $351.0M | ||
| Q1 24 | $591.0M | $333.0M |
总债务BROCQP
| Q4 25 | $7.6B | $14.2B | ||
| Q3 25 | $7.7B | $14.2B | ||
| Q2 25 | $7.5B | $14.2B | ||
| Q1 25 | $3.8B | $14.7B | ||
| Q4 24 | $3.8B | $14.8B | ||
| Q3 24 | $3.6B | $14.8B | ||
| Q2 24 | $4.1B | $14.8B | ||
| Q1 24 | $3.9B | $13.6B |
股东权益BROCQP
| Q4 25 | $12.6B | — | ||
| Q3 25 | $12.4B | — | ||
| Q2 25 | $11.6B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $6.0B | — | ||
| Q1 24 | $5.8B | — |
总资产BROCQP
| Q4 25 | $30.0B | $17.4B | ||
| Q3 25 | $29.4B | $16.8B | ||
| Q2 25 | $25.6B | $16.9B | ||
| Q1 25 | $16.8B | $17.1B | ||
| Q4 24 | $17.6B | $17.5B | ||
| Q3 24 | $17.5B | $17.4B | ||
| Q2 24 | $15.9B | $17.5B | ||
| Q1 24 | $14.8B | $17.5B |
负债/权益比BROCQP
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 0.67× | — |
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 | $444.0M | $887.0M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $864.0M |
| 自由现金流率自由现金流/营收 | 26.4% | 29.7% |
| 资本支出强度资本支出/营收 | 1.2% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.68× | 0.69× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $2.6B |
8季度趋势，按日历期对齐
经营现金流BROCQP
| Q4 25 | $444.0M | $887.0M | ||
| Q3 25 | $468.0M | $658.0M | ||
| Q2 25 | $325.0M | $558.0M | ||
| Q1 25 | $213.0M | $665.0M | ||
| Q4 24 | $361.0M | $876.0M | ||
| Q3 24 | $440.0M | $691.0M | ||
| Q2 24 | $360.0M | $732.0M | ||
| Q1 24 | $13.0M | $669.0M |
自由现金流BROCQP
| Q4 25 | $424.0M | $864.0M | ||
| Q3 25 | $452.0M | $610.0M | ||
| Q2 25 | $310.0M | $490.0M | ||
| Q1 25 | $196.0M | $605.0M | ||
| Q4 24 | $341.0M | $827.0M | ||
| Q3 24 | $417.0M | $652.0M | ||
| Q2 24 | $334.0M | $702.0M | ||
| Q1 24 | $0 | $633.0M |
自由现金流率BROCQP
| Q4 25 | 26.4% | 29.7% | ||
| Q3 25 | 28.1% | 25.4% | ||
| Q2 25 | 24.1% | 20.0% | ||
| Q1 25 | 14.0% | 20.2% | ||
| Q4 24 | 28.8% | 33.6% | ||
| Q3 24 | 35.2% | 31.7% | ||
| Q2 24 | 28.4% | 37.1% | ||
| Q1 24 | 0.0% | 27.6% |
资本支出强度BROCQP
| Q4 25 | 1.2% | 0.8% | ||
| Q3 25 | 1.0% | 2.0% | ||
| Q2 25 | 1.2% | 2.8% | ||
| Q1 25 | 1.2% | 2.0% | ||
| Q4 24 | 1.7% | 2.0% | ||
| Q3 24 | 1.9% | 1.9% | ||
| Q2 24 | 2.2% | 1.6% | ||
| Q1 24 | 1.0% | 1.6% |
现金转化率BROCQP
| Q4 25 | 1.68× | 0.69× | ||
| Q3 25 | 2.06× | 1.30× | ||
| Q2 25 | 1.41× | 1.01× | ||
| Q1 25 | 0.64× | 1.04× | ||
| Q4 24 | 1.73× | 1.41× | ||
| Q3 24 | 1.88× | 1.09× | ||
| Q2 24 | 1.40× | 1.28× | ||
| Q1 24 | 0.04× | 0.98× |
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
BRO
| US | $1.4B | 87% |
| GB | $147.0M | 9% |
| Profit Sharing Contingent Commission Revenue | $33.0M | 2% |
| Other Supplemental Commissions Revenue | $25.0M | 2% |
CQP
| Liquefied Natural Gas | $2.9B | 98% |
| Regasification Service | $34.0M | 1% |
| Other | $17.0M | 1% |
