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Brown & Brown（BRO）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是Brown & Brown的1.2倍（$1.9B vs $1.6B），Brown & Brown净利率更高（16.5% vs 11.9%，领先4.6%），Brown & Brown同比增速更快（35.8% vs 6.5%），过去两年Brown & Brown的营收复合增速更高（13.0% vs -4.2%）
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。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
BRO vs MAS — 直观对比
营收规模更大
MAS
是对方的1.2倍
$1.6B
营收增速更快
BRO
高出29.3%
6.5%
净利率更高
BRO
高出4.6%
11.9%
两年增速更快
BRO
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.9B |
| 净利润 | $265.0M | $228.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | — | 16.5% |
| 净利率 | 16.5% | 11.9% |
| 营收同比 | 35.8% | 6.5% |
| 净利润同比 | 26.8% | 14.5% |
| 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BROMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.6B | $1.9B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $1.2B | $2.1B |
净利润BROMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | $265.0M | $165.0M | ||
| Q3 25 | $227.0M | $189.0M | ||
| Q2 25 | $231.0M | $270.0M | ||
| Q1 25 | $331.0M | $186.0M | ||
| Q4 24 | $209.0M | $182.0M | ||
| Q3 24 | $234.0M | $167.0M | ||
| Q2 24 | $257.0M | $258.0M |
毛利率BROMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 35.8% | ||
| Q4 24 | — | 34.8% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 37.5% |
营业利润率BROMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 15.8% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 15.9% | ||
| Q4 24 | 23.3% | 15.9% | ||
| Q3 24 | 26.7% | 18.0% | ||
| Q2 24 | 29.4% | 19.0% |
净利率BROMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | 16.5% | 9.2% | ||
| Q3 25 | 14.1% | 9.9% | ||
| Q2 25 | 18.0% | 13.2% | ||
| Q1 25 | 23.6% | 10.3% | ||
| Q4 24 | 17.7% | 10.0% | ||
| Q3 24 | 19.7% | 8.4% | ||
| Q2 24 | 21.8% | 12.3% |
每股收益（稀释后）BROMAS
| Q1 26 | — | — | ||
| Q4 25 | $0.55 | $0.81 | ||
| Q3 25 | $0.68 | $0.90 | ||
| Q2 25 | $0.78 | $1.28 | ||
| Q1 25 | $1.15 | $0.87 | ||
| Q4 24 | $0.73 | $0.85 | ||
| Q3 24 | $0.81 | $0.77 | ||
| Q2 24 | $0.90 | $1.17 |
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 | — |
| 总债务越低越好 | $7.6B | $2.9B |
| 股东权益账面价值 | $12.6B | $27.0M |
| 总资产 | $30.0B | $5.2B |
| 负债/权益比越低杠杆越低 | 0.61× | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资BROMAS
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $647.0M | ||
| Q3 25 | $1.2B | $559.0M | ||
| Q2 25 | $8.9B | $390.0M | ||
| Q1 25 | $669.0M | $377.0M | ||
| Q4 24 | $685.0M | $634.0M | ||
| Q3 24 | $968.0M | $646.0M | ||
| Q2 24 | $1.1B | $398.0M |
总债务BROMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $7.6B | $2.9B | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | $2.9B | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $4.1B | — |
股东权益BROMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | $12.6B | $-185.0M | ||
| Q3 25 | $12.4B | $-78.0M | ||
| Q2 25 | $11.6B | $-84.0M | ||
| Q1 25 | $6.8B | $-254.0M | ||
| Q4 24 | $6.4B | $-279.0M | ||
| Q3 24 | $6.5B | $-88.0M | ||
| Q2 24 | $6.0B | $-26.0M |
总资产BROMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | $30.0B | $5.2B | ||
| Q3 25 | $29.4B | $5.3B | ||
| Q2 25 | $25.6B | $5.3B | ||
| Q1 25 | $16.8B | $5.1B | ||
| Q4 24 | $17.6B | $5.0B | ||
| Q3 24 | $17.5B | $5.3B | ||
| Q2 24 | $15.9B | $5.4B |
负债/权益比BROMAS
| Q1 26 | — | 109.07× | ||
| 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× | — |
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 | — |
| 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% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.68× | — |
| 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BROMAS
| Q1 26 | — | — | ||
| Q4 25 | $444.0M | $418.0M | ||
| Q3 25 | $468.0M | $456.0M | ||
| Q2 25 | $325.0M | $306.0M | ||
| Q1 25 | $213.0M | $-158.0M | ||
| Q4 24 | $361.0M | $407.0M | ||
| Q3 24 | $440.0M | $416.0M | ||
| Q2 24 | $360.0M | $346.0M |
自由现金流BROMAS
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $371.0M | ||
| Q3 25 | $452.0M | $415.0M | ||
| Q2 25 | $310.0M | $270.0M | ||
| Q1 25 | $196.0M | $-190.0M | ||
| Q4 24 | $341.0M | $351.0M | ||
| Q3 24 | $417.0M | $378.0M | ||
| Q2 24 | $334.0M | $303.0M |
自由现金流率BROMAS
| Q1 26 | — | — | ||
| Q4 25 | 26.4% | 20.7% | ||
| Q3 25 | 28.1% | 21.6% | ||
| Q2 25 | 24.1% | 13.2% | ||
| Q1 25 | 14.0% | -10.5% | ||
| Q4 24 | 28.8% | 19.2% | ||
| Q3 24 | 35.2% | 19.1% | ||
| Q2 24 | 28.4% | 14.5% |
资本支出强度BROMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | 1.2% | 2.6% | ||
| Q3 25 | 1.0% | 2.1% | ||
| Q2 25 | 1.2% | 1.8% | ||
| Q1 25 | 1.2% | 1.8% | ||
| Q4 24 | 1.7% | 3.1% | ||
| Q3 24 | 1.9% | 1.9% | ||
| Q2 24 | 2.2% | 2.1% |
现金转化率BROMAS
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 2.53× | ||
| Q3 25 | 2.06× | 2.41× | ||
| Q2 25 | 1.41× | 1.13× | ||
| Q1 25 | 0.64× | -0.85× | ||
| Q4 24 | 1.73× | 2.24× | ||
| Q3 24 | 1.88× | 2.49× | ||
| Q2 24 | 1.40× | 1.34× |
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% |
MAS
暂无分部数据
