vs
Brown & Brown（BRO）与罗布乐思（RBLX）财务数据对比。点击上方公司名可切换其他公司
Brown & Brown的季度营收约是罗布乐思的1.1倍（$1.6B vs $1.4B），Brown & Brown净利率更高（16.5% vs -22.3%，领先38.8%），罗布乐思同比增速更快（43.2% vs 35.8%），Brown & Brown自由现金流更多（$424.0M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% 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。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
BRO vs RBLX — 直观对比
营收规模更大
BRO
是对方的1.1倍
$1.4B
营收增速更快
RBLX
高出7.4%
35.8%
净利率更高
BRO
高出38.8%
-22.3%
自由现金流更多
BRO
多$115.4M
$308.6M
两年增速更快
RBLX
近两年复合增速
13.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.4B |
| 净利润 | $265.0M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | — | -25.3% |
| 净利率 | 16.5% | -22.3% |
| 营收同比 | 35.8% | 43.2% |
| 净利润同比 | 26.8% | -43.9% |
| 每股收益（稀释后） | $0.55 | $-0.44 |
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BRORBLX
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.6B | $1.4B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.2B | $988.2M | ||
| Q3 24 | $1.2B | $919.0M | ||
| Q2 24 | $1.2B | $893.5M | ||
| Q1 24 | $1.3B | $801.3M |
净利润BRORBLX
| Q4 25 | $265.0M | $-316.0M | ||
| Q3 25 | $227.0M | $-255.6M | ||
| Q2 25 | $231.0M | $-278.4M | ||
| Q1 25 | $331.0M | $-215.1M | ||
| Q4 24 | $209.0M | $-219.6M | ||
| Q3 24 | $234.0M | $-239.3M | ||
| Q2 24 | $257.0M | $-205.9M | ||
| Q1 24 | $293.0M | $-270.6M |
毛利率BRORBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.9% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.7% |
营业利润率BRORBLX
| Q4 25 | — | -25.3% | ||
| Q3 25 | — | -21.8% | ||
| Q2 25 | — | -29.8% | ||
| Q1 25 | — | -24.6% | ||
| Q4 24 | 23.3% | -24.7% | ||
| Q3 24 | 26.7% | -30.4% | ||
| Q2 24 | 29.4% | -26.6% | ||
| Q1 24 | 28.9% | -37.7% |
净利率BRORBLX
| Q4 25 | 16.5% | -22.3% | ||
| Q3 25 | 14.1% | -18.8% | ||
| Q2 25 | 18.0% | -25.8% | ||
| Q1 25 | 23.6% | -20.8% | ||
| Q4 24 | 17.7% | -22.2% | ||
| Q3 24 | 19.7% | -26.0% | ||
| Q2 24 | 21.8% | -23.0% | ||
| Q1 24 | 23.3% | -33.8% |
每股收益（稀释后）BRORBLX
| Q4 25 | $0.55 | $-0.44 | ||
| Q3 25 | $0.68 | $-0.37 | ||
| Q2 25 | $0.78 | $-0.41 | ||
| Q1 25 | $1.15 | $-0.32 | ||
| Q4 24 | $0.73 | $-0.32 | ||
| Q3 24 | $0.81 | $-0.37 | ||
| Q2 24 | $0.90 | $-0.32 | ||
| Q1 24 | $1.02 | $-0.43 |
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 | $3.1B |
| 总债务越低越好 | $7.6B | $1.2B |
| 股东权益账面价值 | $12.6B | $394.5M |
| 总资产 | $30.0B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.61× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资BRORBLX
| Q4 25 | $1.1B | $3.1B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $8.9B | $2.6B | ||
| Q1 25 | $669.0M | $2.7B | ||
| Q4 24 | $685.0M | $2.4B | ||
| Q3 24 | $968.0M | $2.3B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $591.0M | $2.4B |
总债务BRORBLX
| Q4 25 | $7.6B | $1.2B | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | $1.2B | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $4.1B | — | ||
| Q1 24 | $3.9B | — |
股东权益BRORBLX
| Q4 25 | $12.6B | $394.5M | ||
| Q3 25 | $12.4B | $407.6M | ||
| Q2 25 | $11.6B | $353.2M | ||
| Q1 25 | $6.8B | $310.7M | ||
| Q4 24 | $6.4B | $221.4M | ||
| Q3 24 | $6.5B | $189.9M | ||
| Q2 24 | $6.0B | $121.5M | ||
| Q1 24 | $5.8B | $71.6M |
总资产BRORBLX
| Q4 25 | $30.0B | $9.6B | ||
| Q3 25 | $29.4B | $8.6B | ||
| Q2 25 | $25.6B | $7.8B | ||
| Q1 25 | $16.8B | $7.5B | ||
| Q4 24 | $17.6B | $7.2B | ||
| Q3 24 | $17.5B | $6.7B | ||
| Q2 24 | $15.9B | $6.5B | ||
| Q1 24 | $14.8B | $6.3B |
负债/权益比BRORBLX
| Q4 25 | 0.61× | 2.98× | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.59× | 5.48× | ||
| 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 | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $308.6M |
| 自由现金流率自由现金流/营收 | 26.4% | 21.8% |
| 资本支出强度资本支出/营收 | 1.2% | 21.1% |
| 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 | $1.4B |
8季度趋势，按日历期对齐
经营现金流BRORBLX
| Q4 25 | $444.0M | $607.0M | ||
| Q3 25 | $468.0M | $546.2M | ||
| Q2 25 | $325.0M | $199.3M | ||
| Q1 25 | $213.0M | $443.9M | ||
| Q4 24 | $361.0M | $184.5M | ||
| Q3 24 | $440.0M | $247.4M | ||
| Q2 24 | $360.0M | $151.4M | ||
| Q1 24 | $13.0M | $238.9M |
自由现金流BRORBLX
| Q4 25 | $424.0M | $308.6M | ||
| Q3 25 | $452.0M | $443.6M | ||
| Q2 25 | $310.0M | $176.7M | ||
| Q1 25 | $196.0M | $426.5M | ||
| Q4 24 | $341.0M | $120.6M | ||
| Q3 24 | $417.0M | $218.0M | ||
| Q2 24 | $334.0M | $111.7M | ||
| Q1 24 | $0 | $192.3M |
自由现金流率BRORBLX
| Q4 25 | 26.4% | 21.8% | ||
| Q3 25 | 28.1% | 32.6% | ||
| Q2 25 | 24.1% | 16.3% | ||
| Q1 25 | 14.0% | 41.2% | ||
| Q4 24 | 28.8% | 12.2% | ||
| Q3 24 | 35.2% | 23.7% | ||
| Q2 24 | 28.4% | 12.5% | ||
| Q1 24 | 0.0% | 24.0% |
资本支出强度BRORBLX
| Q4 25 | 1.2% | 21.1% | ||
| Q3 25 | 1.0% | 7.5% | ||
| Q2 25 | 1.2% | 2.1% | ||
| Q1 25 | 1.2% | 1.7% | ||
| Q4 24 | 1.7% | 6.5% | ||
| Q3 24 | 1.9% | 3.2% | ||
| Q2 24 | 2.2% | 4.4% | ||
| Q1 24 | 1.0% | 5.8% |
现金转化率BRORBLX
| Q4 25 | 1.68× | — | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | 1.73× | — | ||
| Q3 24 | 1.88× | — | ||
| Q2 24 | 1.40× | — | ||
| Q1 24 | 0.04× | — |
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% |
RBLX
暂无分部数据
