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Brown & Brown（BRO）与Coterra（CTRA）财务数据对比。点击上方公司名可切换其他公司
Coterra的季度营收约是Brown & Brown的1.1倍（$1.8B vs $1.6B），Coterra净利率更高（20.6% vs 16.5%，领先4.1%），Brown & Brown同比增速更快（35.8% vs 23.8%），过去两年Brown & Brown的营收复合增速更高（13.0% vs 11.8%）
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。
Coterra Energy Inc.是总部位于美国得克萨斯州休斯敦的能源企业，核心业务为油气勘探开发，运营布局覆盖二叠纪盆地、马塞勒斯页岩区及阿纳达科盆地等北美核心油气产区，具备成熟的勘探开发技术与丰富的项目运营经验。
BRO vs CTRA — 直观对比
营收规模更大
CTRA
是对方的1.1倍
$1.6B
营收增速更快
BRO
高出12.1%
23.8%
净利率更高
CTRA
高出4.1%
16.5%
两年增速更快
BRO
近两年复合增速
11.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.8B |
| 净利润 | $265.0M | $368.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 31.9% |
| 净利率 | 16.5% | 20.6% |
| 营收同比 | 35.8% | 23.8% |
| 净利润同比 | 26.8% | 23.9% |
| 每股收益（稀释后） | $0.55 | $0.47 |
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BROCTRA
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.3B | $1.4B |
净利润BROCTRA
| Q4 25 | $265.0M | $368.0M | ||
| Q3 25 | $227.0M | $322.0M | ||
| Q2 25 | $231.0M | $511.0M | ||
| Q1 25 | $331.0M | $516.0M | ||
| Q4 24 | $209.0M | $297.0M | ||
| Q3 24 | $234.0M | $252.0M | ||
| Q2 24 | $257.0M | $220.0M | ||
| Q1 24 | $293.0M | $352.0M |
营业利润率BROCTRA
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 26.8% | ||
| Q2 25 | — | 40.9% | ||
| Q1 25 | — | 34.8% | ||
| Q4 24 | 23.3% | 22.5% | ||
| Q3 24 | 26.7% | 25.3% | ||
| Q2 24 | 29.4% | 23.0% | ||
| Q1 24 | 28.9% | 30.7% |
净利率BROCTRA
| Q4 25 | 16.5% | 20.6% | ||
| Q3 25 | 14.1% | 18.3% | ||
| Q2 25 | 18.0% | 29.5% | ||
| Q1 25 | 23.6% | 25.6% | ||
| Q4 24 | 17.7% | 20.5% | ||
| Q3 24 | 19.7% | 19.5% | ||
| Q2 24 | 21.8% | 17.1% | ||
| Q1 24 | 23.3% | 24.6% |
每股收益（稀释后）BROCTRA
| Q4 25 | $0.55 | $0.47 | ||
| Q3 25 | $0.68 | $0.42 | ||
| Q2 25 | $0.78 | $0.67 | ||
| Q1 25 | $1.15 | $0.68 | ||
| Q4 24 | $0.73 | $0.40 | ||
| Q3 24 | $0.81 | $0.34 | ||
| Q2 24 | $0.90 | $0.29 | ||
| Q1 24 | $1.02 | $0.47 |
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 | $114.0M |
| 总债务越低越好 | $7.6B | $3.8B |
| 股东权益账面价值 | $12.6B | $14.8B |
| 总资产 | $30.0B | $24.2B |
| 负债/权益比越低杠杆越低 | 0.61× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资BROCTRA
| Q4 25 | $1.1B | $114.0M | ||
| Q3 25 | $1.2B | $98.0M | ||
| Q2 25 | $8.9B | $192.0M | ||
| Q1 25 | $669.0M | $186.0M | ||
| Q4 24 | $685.0M | $2.0B | ||
| Q3 24 | $968.0M | $843.0M | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $591.0M | $1.5B |
总债务BROCTRA
| Q4 25 | $7.6B | $3.8B | ||
| Q3 25 | $7.7B | $3.9B | ||
| Q2 25 | $7.5B | $4.2B | ||
| Q1 25 | $3.8B | $4.3B | ||
| Q4 24 | $3.8B | $3.5B | ||
| Q3 24 | $3.6B | $2.1B | ||
| Q2 24 | $4.1B | $2.6B | ||
| Q1 24 | $3.9B | $2.7B |
股东权益BROCTRA
| Q4 25 | $12.6B | $14.8B | ||
| Q3 25 | $12.4B | $14.7B | ||
| Q2 25 | $11.6B | $14.6B | ||
| Q1 25 | $6.8B | $14.2B | ||
| Q4 24 | $6.4B | $13.1B | ||
| Q3 24 | $6.5B | $13.0B | ||
| Q2 24 | $6.0B | $13.0B | ||
| Q1 24 | $5.8B | $13.1B |
总资产BROCTRA
| Q4 25 | $30.0B | $24.2B | ||
| Q3 25 | $29.4B | $24.0B | ||
| Q2 25 | $25.6B | $24.0B | ||
| Q1 25 | $16.8B | $24.0B | ||
| Q4 24 | $17.6B | $21.6B | ||
| Q3 24 | $17.5B | $20.1B | ||
| Q2 24 | $15.9B | $20.8B | ||
| Q1 24 | $14.8B | $21.0B |
负债/权益比BROCTRA
| Q4 25 | 0.61× | 0.26× | ||
| Q3 25 | 0.62× | 0.27× | ||
| Q2 25 | 0.65× | 0.29× | ||
| Q1 25 | 0.56× | 0.30× | ||
| Q4 24 | 0.59× | 0.27× | ||
| Q3 24 | 0.55× | 0.16× | ||
| Q2 24 | 0.68× | 0.20× | ||
| Q1 24 | 0.67× | 0.20× |
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 | $970.0M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | — |
| 自由现金流率自由现金流/营收 | 26.4% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 1.68× | 2.64× |
| 过去12个月自由现金流最近4个季度 | $1.4B | — |
8季度趋势，按日历期对齐
经营现金流BROCTRA
| Q4 25 | $444.0M | $970.0M | ||
| Q3 25 | $468.0M | $971.0M | ||
| Q2 25 | $325.0M | $936.0M | ||
| Q1 25 | $213.0M | $1.1B | ||
| Q4 24 | $361.0M | $626.0M | ||
| Q3 24 | $440.0M | $755.0M | ||
| Q2 24 | $360.0M | $558.0M | ||
| Q1 24 | $13.0M | $856.0M |
自由现金流BROCTRA
| Q4 25 | $424.0M | — | ||
| Q3 25 | $452.0M | — | ||
| Q2 25 | $310.0M | — | ||
| Q1 25 | $196.0M | — | ||
| Q4 24 | $341.0M | — | ||
| Q3 24 | $417.0M | — | ||
| Q2 24 | $334.0M | — | ||
| Q1 24 | $0 | — |
自由现金流率BROCTRA
| Q4 25 | 26.4% | — | ||
| Q3 25 | 28.1% | — | ||
| Q2 25 | 24.1% | — | ||
| Q1 25 | 14.0% | — | ||
| Q4 24 | 28.8% | — | ||
| Q3 24 | 35.2% | — | ||
| Q2 24 | 28.4% | — | ||
| Q1 24 | 0.0% | — |
资本支出强度BROCTRA
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 1.0% | — |
现金转化率BROCTRA
| Q4 25 | 1.68× | 2.64× | ||
| Q3 25 | 2.06× | 3.02× | ||
| Q2 25 | 1.41× | 1.83× | ||
| Q1 25 | 0.64× | 2.22× | ||
| Q4 24 | 1.73× | 2.11× | ||
| Q3 24 | 1.88× | 3.00× | ||
| Q2 24 | 1.40× | 2.54× | ||
| Q1 24 | 0.04× | 2.43× |
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% |
CTRA
| Oil And Condensate | $941.0M | 53% |
| Natural Gas Production | $615.0M | 34% |
| Natural Gas Liquids Reserves | $206.0M | 12% |
| Other Revenues | $28.0M | 2% |
