vs
Brown & Brown（BRO）与豪洛捷（HOLX）财务数据对比。点击上方公司名可切换其他公司
Brown & Brown的季度营收约是豪洛捷的1.5倍（$1.6B vs $1.0B），豪洛捷净利率更高（17.1% vs 16.5%，领先0.6%），Brown & Brown同比增速更快（35.8% vs 2.5%），Brown & Brown自由现金流更多（$424.0M vs $215.2M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 1.5%）
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。
豪洛捷是一家总部位于美国的医疗科技企业，核心业务聚焦女性健康领域，旗下产品涵盖诊断、外科手术及医学影像类专业医疗设备，为全球各地的医疗场景提供优质技术与产品支持。
BRO vs HOLX — 直观对比
营收规模更大
BRO
是对方的1.5倍
$1.0B
营收增速更快
BRO
高出33.3%
2.5%
净利率更高
HOLX
高出0.6%
16.5%
自由现金流更多
BRO
多$208.8M
$215.2M
两年增速更快
BRO
近两年复合增速
1.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.0B |
| 净利润 | $265.0M | $179.1M |
| 毛利率 | — | 56.0% |
| 营业利润率 | — | 22.6% |
| 净利率 | 16.5% | 17.1% |
| 营收同比 | 35.8% | 2.5% |
| 净利润同比 | 26.8% | -10.9% |
| 每股收益（稀释后） | $0.55 | $0.79 |
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BROHOLX
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.3B | $1.0B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.2B | $988.0M | ||
| Q2 24 | $1.2B | $1.0B | ||
| Q1 24 | $1.3B | $1.0B |
净利润BROHOLX
| Q4 25 | $265.0M | $179.1M | ||
| Q3 25 | $227.0M | $187.2M | ||
| Q2 25 | $231.0M | $194.9M | ||
| Q1 25 | $331.0M | $-17.4M | ||
| Q4 24 | $209.0M | $201.0M | ||
| Q3 24 | $234.0M | $178.6M | ||
| Q2 24 | $257.0M | $194.5M | ||
| Q1 24 | $293.0M | $169.9M |
毛利率BROHOLX
| Q4 25 | — | 56.0% | ||
| Q3 25 | — | 55.6% | ||
| Q2 25 | — | 56.3% | ||
| Q1 25 | — | 37.5% | ||
| Q4 24 | — | 56.8% | ||
| Q3 24 | — | 56.4% | ||
| Q2 24 | — | 55.4% | ||
| Q1 24 | — | 53.3% |
营业利润率BROHOLX
| Q4 25 | — | 22.6% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | 24.9% | ||
| Q1 25 | — | -0.7% | ||
| Q4 24 | 23.3% | 22.5% | ||
| Q3 24 | 26.7% | 23.3% | ||
| Q2 24 | 29.4% | 24.1% | ||
| Q1 24 | 28.9% | 20.7% |
净利率BROHOLX
| Q4 25 | 16.5% | 17.1% | ||
| Q3 25 | 14.1% | 17.8% | ||
| Q2 25 | 18.0% | 19.0% | ||
| Q1 25 | 23.6% | -1.7% | ||
| Q4 24 | 17.7% | 19.7% | ||
| Q3 24 | 19.7% | 18.1% | ||
| Q2 24 | 21.8% | 19.2% | ||
| Q1 24 | 23.3% | 16.7% |
每股收益（稀释后）BROHOLX
| Q4 25 | $0.55 | $0.79 | ||
| Q3 25 | $0.68 | $0.84 | ||
| Q2 25 | $0.78 | $0.86 | ||
| Q1 25 | $1.15 | $-0.08 | ||
| Q4 24 | $0.73 | $0.87 | ||
| Q3 24 | $0.81 | $0.75 | ||
| Q2 24 | $0.90 | $0.82 | ||
| Q1 24 | $1.02 | $0.72 |
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 | $2.4B |
| 总债务越低越好 | $7.6B | $2.5B |
| 股东权益账面价值 | $12.6B | $5.2B |
| 总资产 | $30.0B | $9.2B |
| 负债/权益比越低杠杆越低 | 0.61× | 0.48× |
8季度趋势，按日历期对齐
现金及短期投资BROHOLX
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $8.9B | $1.9B | ||
| Q1 25 | $669.0M | $1.6B | ||
| Q4 24 | $685.0M | $2.0B | ||
| Q3 24 | $968.0M | $2.3B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $591.0M | $2.2B |
总债务BROHOLX
| Q4 25 | $7.6B | $2.5B | ||
| Q3 25 | $7.7B | $2.5B | ||
| Q2 25 | $7.5B | $2.5B | ||
| Q1 25 | $3.8B | $2.5B | ||
| Q4 24 | $3.8B | $2.5B | ||
| Q3 24 | $3.6B | $2.5B | ||
| Q2 24 | $4.1B | $2.5B | ||
| Q1 24 | $3.9B | $2.6B |
股东权益BROHOLX
| Q4 25 | $12.6B | $5.2B | ||
| Q3 25 | $12.4B | $5.0B | ||
| Q2 25 | $11.6B | $4.8B | ||
| Q1 25 | $6.8B | $4.6B | ||
| Q4 24 | $6.4B | $4.8B | ||
| Q3 24 | $6.5B | $5.1B | ||
| Q2 24 | $6.0B | $5.0B | ||
| Q1 24 | $5.8B | $4.8B |
总资产BROHOLX
| Q4 25 | $30.0B | $9.2B | ||
| Q3 25 | $29.4B | $9.0B | ||
| Q2 25 | $25.6B | $8.8B | ||
| Q1 25 | $16.8B | $8.5B | ||
| Q4 24 | $17.6B | $8.7B | ||
| Q3 24 | $17.5B | $9.2B | ||
| Q2 24 | $15.9B | $8.9B | ||
| Q1 24 | $14.8B | $8.7B |
负债/权益比BROHOLX
| Q4 25 | 0.61× | 0.48× | ||
| Q3 25 | 0.62× | 0.50× | ||
| Q2 25 | 0.65× | 0.52× | ||
| Q1 25 | 0.56× | 0.55× | ||
| Q4 24 | 0.59× | 0.53× | ||
| Q3 24 | 0.55× | 0.49× | ||
| Q2 24 | 0.68× | 0.51× | ||
| Q1 24 | 0.67× | 0.53× |
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 | $229.9M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $215.2M |
| 自由现金流率自由现金流/营收 | 26.4% | 20.5% |
| 资本支出强度资本支出/营收 | 1.2% | 1.4% |
| 现金转化率经营现金流/净利润 | 1.68× | 1.28× |
| 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BROHOLX
| Q4 25 | $444.0M | $229.9M | ||
| Q3 25 | $468.0M | $355.1M | ||
| Q2 25 | $325.0M | $343.3M | ||
| Q1 25 | $213.0M | $169.4M | ||
| Q4 24 | $361.0M | $189.3M | ||
| Q3 24 | $440.0M | $367.0M | ||
| Q2 24 | $360.0M | $405.8M | ||
| Q1 24 | $13.0M | $292.4M |
自由现金流BROHOLX
| Q4 25 | $424.0M | $215.2M | ||
| Q3 25 | $452.0M | $341.4M | ||
| Q2 25 | $310.0M | $330.5M | ||
| Q1 25 | $196.0M | $153.9M | ||
| Q4 24 | $341.0M | $172.5M | ||
| Q3 24 | $417.0M | $350.6M | ||
| Q2 24 | $334.0M | $385.3M | ||
| Q1 24 | $0 | $279.6M |
自由现金流率BROHOLX
| Q4 25 | 26.4% | 20.5% | ||
| Q3 25 | 28.1% | 32.5% | ||
| Q2 25 | 24.1% | 32.3% | ||
| Q1 25 | 14.0% | 15.3% | ||
| Q4 24 | 28.8% | 16.9% | ||
| Q3 24 | 35.2% | 35.5% | ||
| Q2 24 | 28.4% | 38.1% | ||
| Q1 24 | 0.0% | 27.5% |
资本支出强度BROHOLX
| Q4 25 | 1.2% | 1.4% | ||
| Q3 25 | 1.0% | 1.3% | ||
| Q2 25 | 1.2% | 1.3% | ||
| Q1 25 | 1.2% | 1.5% | ||
| Q4 24 | 1.7% | 1.6% | ||
| Q3 24 | 1.9% | 1.7% | ||
| Q2 24 | 2.2% | 2.0% | ||
| Q1 24 | 1.0% | 1.3% |
现金转化率BROHOLX
| Q4 25 | 1.68× | 1.28× | ||
| Q3 25 | 2.06× | 1.90× | ||
| Q2 25 | 1.41× | 1.76× | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | 1.73× | 0.94× | ||
| Q3 24 | 1.88× | 2.05× | ||
| Q2 24 | 1.40× | 2.09× | ||
| Q1 24 | 0.04× | 1.72× |
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% |
HOLX
| Molecular Diagnostics | $255.3M | 24% |
| Breast Imaging | $219.9M | 21% |
| Services | $216.4M | 21% |
| Capital Equipment Componentsand Software | $187.2M | 18% |
| Cytology Perinatal | $76.0M | 7% |
| Interventional Breast Solutions | $71.2M | 7% |
| Blood Screening | $8.4M | 1% |
| Other Typeof Revenue | $5.4M | 1% |
