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Brown & Brown（BRO）与ITT INC.（ITT）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ITT INC.的1.5倍（$1.6B vs $1.1B），Brown & Brown净利率更高（16.5% vs 12.5%，领先4.0%），Brown & Brown同比增速更快（35.8% vs 13.5%），Brown & Brown自由现金流更多（$424.0M vs $187.4M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 7.6%）
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。
ITT Inc是一家总部位于美国康涅狄格州斯坦福德的制造企业，前身为ITT集团，主要面向航空航天、交通、能源及工业领域供应特种零部件，旗下设有工业流程、运动技术、连接与控制技术三大业务板块。
BRO vs ITT — 直观对比
营收规模更大
BRO
是对方的1.5倍
$1.1B
营收增速更快
BRO
高出22.4%
13.5%
净利率更高
BRO
高出4.0%
12.5%
自由现金流更多
BRO
多$236.6M
$187.4M
两年增速更快
BRO
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.1B |
| 净利润 | $265.0M | $131.7M |
| 毛利率 | — | 35.5% |
| 营业利润率 | — | 17.0% |
| 净利率 | 16.5% | 12.5% |
| 营收同比 | 35.8% | 13.5% |
| 净利润同比 | 26.8% | 3.7% |
| 每股收益（稀释后） | $0.55 | $1.64 |
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BROITT
| Q4 25 | $1.6B | $1.1B | ||
| Q3 25 | $1.6B | $999.1M | ||
| Q2 25 | $1.3B | $972.4M | ||
| Q1 25 | $1.4B | $913.0M | ||
| Q4 24 | $1.2B | $929.0M | ||
| Q3 24 | $1.2B | $885.2M | ||
| Q2 24 | $1.2B | $905.9M | ||
| Q1 24 | $1.3B | $910.6M |
净利润BROITT
| Q4 25 | $265.0M | $131.7M | ||
| Q3 25 | $227.0M | $126.9M | ||
| Q2 25 | $231.0M | $121.0M | ||
| Q1 25 | $331.0M | $108.4M | ||
| Q4 24 | $209.0M | $127.0M | ||
| Q3 24 | $234.0M | $161.1M | ||
| Q2 24 | $257.0M | $119.2M | ||
| Q1 24 | $293.0M | $111.0M |
毛利率BROITT
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 35.6% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 34.6% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 35.5% | ||
| Q2 24 | — | 34.9% | ||
| Q1 24 | — | 33.0% |
营业利润率BROITT
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 18.0% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | 23.3% | 17.2% | ||
| Q3 24 | 26.7% | 23.5% | ||
| Q2 24 | 29.4% | 17.6% | ||
| Q1 24 | 28.9% | 16.4% |
净利率BROITT
| Q4 25 | 16.5% | 12.5% | ||
| Q3 25 | 14.1% | 12.7% | ||
| Q2 25 | 18.0% | 12.4% | ||
| Q1 25 | 23.6% | 11.9% | ||
| Q4 24 | 17.7% | 13.7% | ||
| Q3 24 | 19.7% | 18.2% | ||
| Q2 24 | 21.8% | 13.2% | ||
| Q1 24 | 23.3% | 12.2% |
每股收益（稀释后）BROITT
| Q4 25 | $0.55 | $1.64 | ||
| Q3 25 | $0.68 | $1.62 | ||
| Q2 25 | $0.78 | $1.52 | ||
| Q1 25 | $1.15 | $1.33 | ||
| Q4 24 | $0.73 | $1.54 | ||
| Q3 24 | $0.81 | $1.96 | ||
| Q2 24 | $0.90 | $1.45 | ||
| Q1 24 | $1.02 | $1.35 |
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 | $1.7B |
| 总债务越低越好 | $7.6B | $521.5M |
| 股东权益账面价值 | $12.6B | $4.1B |
| 总资产 | $30.0B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.61× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资BROITT
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.2B | $516.4M | ||
| Q2 25 | $8.9B | $467.9M | ||
| Q1 25 | $669.0M | $439.8M | ||
| Q4 24 | $685.0M | $439.3M | ||
| Q3 24 | $968.0M | $460.9M | ||
| Q2 24 | $1.1B | $425.5M | ||
| Q1 24 | $591.0M | $423.0M |
总债务BROITT
| Q4 25 | $7.6B | $521.5M | ||
| Q3 25 | $7.7B | $577.7M | ||
| Q2 25 | $7.5B | $622.5M | ||
| Q1 25 | $3.8B | $4.5M | ||
| Q4 24 | $3.8B | $232.6M | ||
| Q3 24 | $3.6B | $467.8M | ||
| Q2 24 | $4.1B | $190.0M | ||
| Q1 24 | $3.9B | $230.5M |
股东权益BROITT
| Q4 25 | $12.6B | $4.1B | ||
| Q3 25 | $12.4B | $2.7B | ||
| Q2 25 | $11.6B | $2.6B | ||
| Q1 25 | $6.8B | $2.8B | ||
| Q4 24 | $6.4B | $2.8B | ||
| Q3 24 | $6.5B | $2.7B | ||
| Q2 24 | $6.0B | $2.6B | ||
| Q1 24 | $5.8B | $2.6B |
总资产BROITT
| Q4 25 | $30.0B | $6.3B | ||
| Q3 25 | $29.4B | $5.1B | ||
| Q2 25 | $25.6B | $5.0B | ||
| Q1 25 | $16.8B | $4.8B | ||
| Q4 24 | $17.6B | $4.7B | ||
| Q3 24 | $17.5B | $4.9B | ||
| Q2 24 | $15.9B | $4.4B | ||
| Q1 24 | $14.8B | $4.4B |
负债/权益比BROITT
| Q4 25 | 0.61× | 0.13× | ||
| Q3 25 | 0.62× | 0.22× | ||
| Q2 25 | 0.65× | 0.24× | ||
| Q1 25 | 0.56× | 0.00× | ||
| Q4 24 | 0.59× | 0.08× | ||
| Q3 24 | 0.55× | 0.17× | ||
| Q2 24 | 0.68× | 0.07× | ||
| Q1 24 | 0.67× | 0.09× |
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 | $227.8M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $187.4M |
| 自由现金流率自由现金流/营收 | 26.4% | 17.8% |
| 资本支出强度资本支出/营收 | 1.2% | 3.8% |
| 现金转化率经营现金流/净利润 | 1.68× | 1.73× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $547.5M |
8季度趋势，按日历期对齐
经营现金流BROITT
| Q4 25 | $444.0M | $227.8M | ||
| Q3 25 | $468.0M | $173.9M | ||
| Q2 25 | $325.0M | $153.7M | ||
| Q1 25 | $213.0M | $113.4M | ||
| Q4 24 | $361.0M | $223.2M | ||
| Q3 24 | $440.0M | $123.9M | ||
| Q2 24 | $360.0M | $157.7M | ||
| Q1 24 | $13.0M | $57.8M |
自由现金流BROITT
| Q4 25 | $424.0M | $187.4M | ||
| Q3 25 | $452.0M | $146.2M | ||
| Q2 25 | $310.0M | $137.3M | ||
| Q1 25 | $196.0M | $76.6M | ||
| Q4 24 | $341.0M | $186.8M | ||
| Q3 24 | $417.0M | $87.3M | ||
| Q2 24 | $334.0M | $134.5M | ||
| Q1 24 | $0 | $30.1M |
自由现金流率BROITT
| Q4 25 | 26.4% | 17.8% | ||
| Q3 25 | 28.1% | 14.6% | ||
| Q2 25 | 24.1% | 14.1% | ||
| Q1 25 | 14.0% | 8.4% | ||
| Q4 24 | 28.8% | 20.1% | ||
| Q3 24 | 35.2% | 9.9% | ||
| Q2 24 | 28.4% | 14.8% | ||
| Q1 24 | 0.0% | 3.3% |
资本支出强度BROITT
| Q4 25 | 1.2% | 3.8% | ||
| Q3 25 | 1.0% | 2.8% | ||
| Q2 25 | 1.2% | 1.7% | ||
| Q1 25 | 1.2% | 4.0% | ||
| Q4 24 | 1.7% | 3.9% | ||
| Q3 24 | 1.9% | 4.1% | ||
| Q2 24 | 2.2% | 2.6% | ||
| Q1 24 | 1.0% | 3.0% |
现金转化率BROITT
| Q4 25 | 1.68× | 1.73× | ||
| Q3 25 | 2.06× | 1.37× | ||
| Q2 25 | 1.41× | 1.27× | ||
| Q1 25 | 0.64× | 1.05× | ||
| Q4 24 | 1.73× | 1.76× | ||
| Q3 24 | 1.88× | 0.77× | ||
| Q2 24 | 1.40× | 1.32× | ||
| Q1 24 | 0.04× | 0.52× |
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% |
ITT
| Industrial Process | $423.1M | 40% |
| Motion Technologies | $360.8M | 34% |
| Connect Control Technologies | $271.2M | 26% |
