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Brown & Brown（BRO）与Datadog（DDOG）财务数据对比。点击上方公司名可切换其他公司
Brown & Brown的季度营收约是Datadog的1.7倍（$1.6B vs $953.2M），Brown & Brown净利率更高（16.5% vs 4.9%，领先11.6%），Brown & Brown同比增速更快（35.8% vs 29.2%），Brown & Brown自由现金流更多（$424.0M vs $318.2M），过去两年Datadog的营收复合增速更高（24.9% vs 13.0%）
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。
Datadog是一家美国企业，为云级应用提供可观测性服务，旗下SaaS数据分析平台可实现对服务器、数据库、各类工具及服务的统一监控。公司成立并总部位于纽约，目前在纳斯达克证券交易所公开上市。
BRO vs DDOG — 直观对比
营收规模更大
BRO
是对方的1.7倍
$953.2M
营收增速更快
BRO
高出6.6%
29.2%
净利率更高
BRO
高出11.6%
4.9%
自由现金流更多
BRO
多$105.8M
$318.2M
两年增速更快
DDOG
近两年复合增速
13.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $953.2M |
| 净利润 | $265.0M | $46.6M |
| 毛利率 | — | 80.4% |
| 营业利润率 | — | 1.0% |
| 净利率 | 16.5% | 4.9% |
| 营收同比 | 35.8% | 29.2% |
| 净利润同比 | 26.8% | 2.1% |
| 每股收益（稀释后） | $0.55 | $0.13 |
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BRODDOG
| Q4 25 | $1.6B | $953.2M | ||
| Q3 25 | $1.6B | $885.7M | ||
| Q2 25 | $1.3B | $826.8M | ||
| Q1 25 | $1.4B | $761.6M | ||
| Q4 24 | $1.2B | $737.7M | ||
| Q3 24 | $1.2B | $690.0M | ||
| Q2 24 | $1.2B | $645.3M | ||
| Q1 24 | $1.3B | $611.3M |
净利润BRODDOG
| Q4 25 | $265.0M | $46.6M | ||
| Q3 25 | $227.0M | $33.9M | ||
| Q2 25 | $231.0M | $2.6M | ||
| Q1 25 | $331.0M | $24.6M | ||
| Q4 24 | $209.0M | $45.6M | ||
| Q3 24 | $234.0M | $51.7M | ||
| Q2 24 | $257.0M | $43.8M | ||
| Q1 24 | $293.0M | $42.6M |
毛利率BRODDOG
| Q4 25 | — | 80.4% | ||
| Q3 25 | — | 80.1% | ||
| Q2 25 | — | 79.9% | ||
| Q1 25 | — | 79.3% | ||
| Q4 24 | — | 80.5% | ||
| Q3 24 | — | 80.0% | ||
| Q2 24 | — | 80.9% | ||
| Q1 24 | — | 82.0% |
营业利润率BRODDOG
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | -0.7% | ||
| Q2 25 | — | -4.3% | ||
| Q1 25 | — | -1.6% | ||
| Q4 24 | 23.3% | 1.3% | ||
| Q3 24 | 26.7% | 2.9% | ||
| Q2 24 | 29.4% | 2.0% | ||
| Q1 24 | 28.9% | 2.0% |
净利率BRODDOG
| Q4 25 | 16.5% | 4.9% | ||
| Q3 25 | 14.1% | 3.8% | ||
| Q2 25 | 18.0% | 0.3% | ||
| Q1 25 | 23.6% | 3.2% | ||
| Q4 24 | 17.7% | 6.2% | ||
| Q3 24 | 19.7% | 7.5% | ||
| Q2 24 | 21.8% | 6.8% | ||
| Q1 24 | 23.3% | 7.0% |
每股收益（稀释后）BRODDOG
| Q4 25 | $0.55 | $0.13 | ||
| Q3 25 | $0.68 | $0.10 | ||
| Q2 25 | $0.78 | $0.01 | ||
| Q1 25 | $1.15 | $0.07 | ||
| Q4 24 | $0.73 | $0.14 | ||
| Q3 24 | $0.81 | $0.14 | ||
| Q2 24 | $0.90 | $0.12 | ||
| Q1 24 | $1.02 | $0.12 |
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 | $401.3M |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $12.6B | $3.7B |
| 总资产 | $30.0B | $6.6B |
| 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BRODDOG
| Q4 25 | $1.1B | $401.3M | ||
| Q3 25 | $1.2B | $540.6M | ||
| Q2 25 | $8.9B | $489.0M | ||
| Q1 25 | $669.0M | $1.1B | ||
| Q4 24 | $685.0M | $1.2B | ||
| Q3 24 | $968.0M | $337.4M | ||
| Q2 24 | $1.1B | $411.0M | ||
| Q1 24 | $591.0M | $282.2M |
总债务BRODDOG
| Q4 25 | $7.6B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 24 | $3.9B | — |
股东权益BRODDOG
| Q4 25 | $12.6B | $3.7B | ||
| Q3 25 | $12.4B | $3.4B | ||
| Q2 25 | $11.6B | $3.2B | ||
| Q1 25 | $6.8B | $2.9B | ||
| Q4 24 | $6.4B | $2.7B | ||
| Q3 24 | $6.5B | $2.6B | ||
| Q2 24 | $6.0B | $2.4B | ||
| Q1 24 | $5.8B | $2.2B |
总资产BRODDOG
| Q4 25 | $30.0B | $6.6B | ||
| Q3 25 | $29.4B | $6.1B | ||
| Q2 25 | $25.6B | $5.8B | ||
| Q1 25 | $16.8B | $6.0B | ||
| Q4 24 | $17.6B | $5.8B | ||
| Q3 24 | $17.5B | $4.6B | ||
| Q2 24 | $15.9B | $4.4B | ||
| Q1 24 | $14.8B | $4.1B |
负债/权益比BRODDOG
| 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 | $327.1M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $318.2M |
| 自由现金流率自由现金流/营收 | 26.4% | 33.4% |
| 资本支出强度资本支出/营收 | 1.2% | 0.9% |
| 现金转化率经营现金流/净利润 | 1.68× | 7.02× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $1.0B |
8季度趋势，按日历期对齐
经营现金流BRODDOG
| Q4 25 | $444.0M | $327.1M | ||
| Q3 25 | $468.0M | $251.5M | ||
| Q2 25 | $325.0M | $200.1M | ||
| Q1 25 | $213.0M | $271.5M | ||
| Q4 24 | $361.0M | $265.2M | ||
| Q3 24 | $440.0M | $228.7M | ||
| Q2 24 | $360.0M | $164.4M | ||
| Q1 24 | $13.0M | $212.3M |
自由现金流BRODDOG
| Q4 25 | $424.0M | $318.2M | ||
| Q3 25 | $452.0M | $234.7M | ||
| Q2 25 | $310.0M | $184.9M | ||
| Q1 25 | $196.0M | $262.8M | ||
| Q4 24 | $341.0M | $257.5M | ||
| Q3 24 | $417.0M | $220.3M | ||
| Q2 24 | $334.0M | $160.0M | ||
| Q1 24 | $0 | $198.1M |
自由现金流率BRODDOG
| Q4 25 | 26.4% | 33.4% | ||
| Q3 25 | 28.1% | 26.5% | ||
| Q2 25 | 24.1% | 22.4% | ||
| Q1 25 | 14.0% | 34.5% | ||
| Q4 24 | 28.8% | 34.9% | ||
| Q3 24 | 35.2% | 31.9% | ||
| Q2 24 | 28.4% | 24.8% | ||
| Q1 24 | 0.0% | 32.4% |
资本支出强度BRODDOG
| Q4 25 | 1.2% | 0.9% | ||
| Q3 25 | 1.0% | 1.9% | ||
| Q2 25 | 1.2% | 1.8% | ||
| Q1 25 | 1.2% | 1.1% | ||
| Q4 24 | 1.7% | 1.1% | ||
| Q3 24 | 1.9% | 1.2% | ||
| Q2 24 | 2.2% | 0.7% | ||
| Q1 24 | 1.0% | 2.3% |
现金转化率BRODDOG
| Q4 25 | 1.68× | 7.02× | ||
| Q3 25 | 2.06× | 7.42× | ||
| Q2 25 | 1.41× | 75.58× | ||
| Q1 25 | 0.64× | 11.02× | ||
| Q4 24 | 1.73× | 5.82× | ||
| Q3 24 | 1.88× | 4.42× | ||
| Q2 24 | 1.40× | 3.75× | ||
| Q1 24 | 0.04× | 4.98× |
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% |
DDOG
| North America | $678.7M | 71% |
| International | $274.5M | 29% |
