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Brown & Brown（BRO）与Packaging Corporation of America（PKG）财务数据对比。点击上方公司名可切换其他公司
Packaging Corporation of America的季度营收约是Brown & Brown的1.5倍（$2.4B vs $1.6B），Brown & Brown净利率更高（16.5% vs 7.2%，领先9.3%），Brown & Brown同比增速更快（35.8% vs 10.6%），过去两年Brown & Brown的营收复合增速更高（13.0% vs 6.8%）
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。
Packaging Corporation of America是总部位于美国伊利诺伊州莱克福里斯特的制造企业，业务主要布局于美国本土，当前拥有约15500名员工，首席执行官为Mark W. Kowlzan。
BRO vs PKG — 直观对比
营收规模更大
PKG
是对方的1.5倍
$1.6B
营收增速更快
BRO
高出25.2%
10.6%
净利率更高
BRO
高出9.3%
7.2%
两年增速更快
BRO
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.4B |
| 净利润 | $265.0M | $170.9M |
| 毛利率 | — | 19.1% |
| 营业利润率 | — | 10.6% |
| 净利率 | 16.5% | 7.2% |
| 营收同比 | 35.8% | 10.6% |
| 净利润同比 | 26.8% | -16.1% |
| 每股收益（稀释后） | $0.55 | $1.91 |
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BROPKG
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.6B | $2.3B | ||
| Q2 25 | $1.3B | $2.2B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $1.2B | $2.1B |
净利润BROPKG
| Q1 26 | — | $170.9M | ||
| Q4 25 | $265.0M | $101.9M | ||
| Q3 25 | $227.0M | $226.9M | ||
| Q2 25 | $231.0M | $241.5M | ||
| Q1 25 | $331.0M | $203.8M | ||
| Q4 24 | $209.0M | $221.2M | ||
| Q3 24 | $234.0M | $238.1M | ||
| Q2 24 | $257.0M | $198.9M |
毛利率BROPKG
| Q1 26 | — | 19.1% | ||
| Q4 25 | — | 18.9% | ||
| Q3 25 | — | 21.8% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | — | 21.9% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 21.1% |
营业利润率BROPKG
| Q1 26 | — | 10.6% | ||
| Q4 25 | — | 7.1% | ||
| Q3 25 | — | 14.0% | ||
| Q2 25 | — | 15.4% | ||
| Q1 25 | — | 13.1% | ||
| Q4 24 | 23.3% | 14.1% | ||
| Q3 24 | 26.7% | 15.0% | ||
| Q2 24 | 29.4% | 13.3% |
净利率BROPKG
| Q1 26 | — | 7.2% | ||
| Q4 25 | 16.5% | 4.3% | ||
| Q3 25 | 14.1% | 9.8% | ||
| Q2 25 | 18.0% | 11.1% | ||
| Q1 25 | 23.6% | 9.5% | ||
| Q4 24 | 17.7% | 10.3% | ||
| Q3 24 | 19.7% | 10.9% | ||
| Q2 24 | 21.8% | 9.6% |
每股收益（稀释后）BROPKG
| Q1 26 | — | $1.91 | ||
| Q4 25 | $0.55 | $1.14 | ||
| Q3 25 | $0.68 | $2.51 | ||
| Q2 25 | $0.78 | $2.67 | ||
| Q1 25 | $1.15 | $2.26 | ||
| Q4 24 | $0.73 | $2.45 | ||
| Q3 24 | $0.81 | $2.64 | ||
| Q2 24 | $0.90 | $2.21 |
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 | — |
| 股东权益账面价值 | $12.6B | — |
| 总资产 | $30.0B | — |
| 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BROPKG
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $529.0M | ||
| Q3 25 | $1.2B | $634.0M | ||
| Q2 25 | $8.9B | $787.9M | ||
| Q1 25 | $669.0M | $751.7M | ||
| Q4 24 | $685.0M | $685.0M | ||
| Q3 24 | $968.0M | $676.6M | ||
| Q2 24 | $1.1B | $613.6M |
总债务BROPKG
| Q1 26 | — | — | ||
| Q4 25 | $7.6B | $4.0B | ||
| Q3 25 | $7.7B | $4.0B | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | $2.5B | ||
| Q3 24 | $3.6B | $2.5B | ||
| Q2 24 | $4.1B | — |
股东权益BROPKG
| Q1 26 | — | — | ||
| Q4 25 | $12.6B | $4.6B | ||
| Q3 25 | $12.4B | $4.8B | ||
| Q2 25 | $11.6B | $4.6B | ||
| Q1 25 | $6.8B | $4.5B | ||
| Q4 24 | $6.4B | $4.4B | ||
| Q3 24 | $6.5B | $4.3B | ||
| Q2 24 | $6.0B | $4.1B |
总资产BROPKG
| Q1 26 | — | — | ||
| Q4 25 | $30.0B | $10.7B | ||
| Q3 25 | $29.4B | $11.0B | ||
| Q2 25 | $25.6B | $9.0B | ||
| Q1 25 | $16.8B | $9.0B | ||
| Q4 24 | $17.6B | $8.8B | ||
| Q3 24 | $17.5B | $8.8B | ||
| Q2 24 | $15.9B | $9.0B |
负债/权益比BROPKG
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | 0.87× | ||
| Q3 25 | 0.62× | 0.84× | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.59× | 0.57× | ||
| Q3 24 | 0.55× | 0.58× | ||
| 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% | — |
| 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BROPKG
| Q1 26 | — | — | ||
| Q4 25 | $444.0M | $446.6M | ||
| Q3 25 | $468.0M | $472.2M | ||
| Q2 25 | $325.0M | $299.6M | ||
| Q1 25 | $213.0M | $339.1M | ||
| Q4 24 | $361.0M | $325.4M | ||
| Q3 24 | $440.0M | $327.1M | ||
| Q2 24 | $360.0M | $278.3M |
自由现金流BROPKG
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $127.6M | ||
| Q3 25 | $452.0M | $280.1M | ||
| Q2 25 | $310.0M | $129.9M | ||
| Q1 25 | $196.0M | $191.0M | ||
| Q4 24 | $341.0M | $124.1M | ||
| Q3 24 | $417.0M | $180.4M | ||
| Q2 24 | $334.0M | $33.3M |
自由现金流率BROPKG
| Q1 26 | — | — | ||
| Q4 25 | 26.4% | 5.4% | ||
| Q3 25 | 28.1% | 12.1% | ||
| Q2 25 | 24.1% | 6.0% | ||
| Q1 25 | 14.0% | 8.9% | ||
| Q4 24 | 28.8% | 5.8% | ||
| Q3 24 | 35.2% | 8.3% | ||
| Q2 24 | 28.4% | 1.6% |
资本支出强度BROPKG
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 13.5% | ||
| Q3 25 | 1.0% | 8.3% | ||
| Q2 25 | 1.2% | 7.8% | ||
| Q1 25 | 1.2% | 6.9% | ||
| Q4 24 | 1.7% | 9.4% | ||
| Q3 24 | 1.9% | 6.7% | ||
| Q2 24 | 2.2% | 11.8% |
现金转化率BROPKG
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 4.38× | ||
| Q3 25 | 2.06× | 2.08× | ||
| Q2 25 | 1.41× | 1.24× | ||
| Q1 25 | 0.64× | 1.66× | ||
| Q4 24 | 1.73× | 1.47× | ||
| Q3 24 | 1.88× | 1.37× | ||
| Q2 24 | 1.40× | 1.40× |
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% |
PKG
暂无分部数据
