vs
Brown & Brown（BRO）与瑞思迈（RMD）财务数据对比。点击上方公司名可切换其他公司
Brown & Brown的季度营收约是瑞思迈的1.1倍（$1.6B vs $1.4B），瑞思迈净利率更高（27.6% vs 16.5%，领先11.1%），Brown & Brown同比增速更快（35.8% vs 11.0%），过去两年Brown & Brown的营收复合增速更高（13.0% vs 7.8%）
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。
瑞思迈是一家起源于澳大利亚、总部位于美国加利福尼亚州圣迭戈的医疗设备企业，主打可接入云端的呼吸类医疗设备，用于治疗睡眠呼吸暂停、慢性阻塞性肺病等呼吸道疾病，新冠疫情期间曾大量生产呼吸机等设备助力患者救治。
BRO vs RMD — 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
BRO
高出24.9%
11.0%
净利率更高
RMD
高出11.1%
16.5%
两年增速更快
BRO
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.4B |
| 净利润 | $265.0M | $392.6M |
| 毛利率 | — | 61.8% |
| 营业利润率 | — | 34.6% |
| 净利率 | 16.5% | 27.6% |
| 营收同比 | 35.8% | 11.0% |
| 净利润同比 | 26.8% | 13.9% |
| 每股收益（稀释后） | $0.55 | $2.68 |
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BRORMD
| Q2 26 | — | $1.4B | ||
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B |
净利润BRORMD
| Q2 26 | — | $392.6M | ||
| Q1 26 | — | $398.7M | ||
| Q4 25 | $265.0M | $392.6M | ||
| Q3 25 | $227.0M | $348.5M | ||
| Q2 25 | $231.0M | $379.7M | ||
| Q1 25 | $331.0M | $365.0M | ||
| Q4 24 | $209.0M | $344.6M | ||
| Q3 24 | $234.0M | $311.4M |
毛利率BRORMD
| Q2 26 | — | 61.8% | ||
| Q1 26 | — | 62.2% | ||
| Q4 25 | — | 61.8% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 60.8% | ||
| Q1 25 | — | 59.3% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | 58.6% |
营业利润率BRORMD
| Q2 26 | — | 34.6% | ||
| Q1 26 | — | 34.9% | ||
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 33.4% | ||
| Q2 25 | — | 33.7% | ||
| Q1 25 | — | 33.0% | ||
| Q4 24 | 23.3% | 32.5% | ||
| Q3 24 | 26.7% | 31.6% |
净利率BRORMD
| Q2 26 | — | 27.6% | ||
| Q1 26 | — | 27.9% | ||
| Q4 25 | 16.5% | 27.6% | ||
| Q3 25 | 14.1% | 26.1% | ||
| Q2 25 | 18.0% | 28.2% | ||
| Q1 25 | 23.6% | 28.3% | ||
| Q4 24 | 17.7% | 26.9% | ||
| Q3 24 | 19.7% | 25.4% |
每股收益（稀释后）BRORMD
| Q2 26 | — | $2.68 | ||
| Q1 26 | — | $2.74 | ||
| Q4 25 | $0.55 | $2.68 | ||
| Q3 25 | $0.68 | $2.37 | ||
| Q2 25 | $0.78 | $2.58 | ||
| Q1 25 | $1.15 | $2.48 | ||
| Q4 24 | $0.73 | $2.34 | ||
| Q3 24 | $0.81 | $2.11 |
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 | $1.4B |
| 总债务越低越好 | $7.6B | $663.8M |
| 股东权益账面价值 | $12.6B | $6.3B |
| 总资产 | $30.0B | $8.5B |
| 负债/权益比越低杠杆越低 | 0.61× | 0.11× |
8季度趋势，按日历期对齐
现金及短期投资BRORMD
| Q2 26 | — | $1.4B | ||
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $8.9B | $1.2B | ||
| Q1 25 | $669.0M | $932.7M | ||
| Q4 24 | $685.0M | $521.9M | ||
| Q3 24 | $968.0M | $426.4M |
总债务BRORMD
| Q2 26 | — | $663.8M | ||
| Q1 26 | — | $664.1M | ||
| Q4 25 | $7.6B | $403.9M | ||
| Q3 25 | $7.7B | $408.7M | ||
| Q2 25 | $7.5B | $658.4M | ||
| Q1 25 | $3.8B | $663.1M | ||
| Q4 24 | $3.8B | $662.9M | ||
| Q3 24 | $3.6B | $667.6M |
股东权益BRORMD
| Q2 26 | — | $6.3B | ||
| Q1 26 | — | $6.5B | ||
| Q4 25 | $12.6B | $6.3B | ||
| Q3 25 | $12.4B | $6.1B | ||
| Q2 25 | $11.6B | $6.0B | ||
| Q1 25 | $6.8B | $5.5B | ||
| Q4 24 | $6.4B | $5.3B | ||
| Q3 24 | $6.5B | $5.2B |
总资产BRORMD
| Q2 26 | — | $8.5B | ||
| Q1 26 | — | $8.8B | ||
| Q4 25 | $30.0B | $8.5B | ||
| Q3 25 | $29.4B | $8.3B | ||
| Q2 25 | $25.6B | $8.2B | ||
| Q1 25 | $16.8B | $7.6B | ||
| Q4 24 | $17.6B | $7.1B | ||
| Q3 24 | $17.5B | $7.2B |
负债/权益比BRORMD
| Q2 26 | — | 0.11× | ||
| Q1 26 | — | 0.10× | ||
| Q4 25 | 0.61× | 0.06× | ||
| Q3 25 | 0.62× | 0.07× | ||
| Q2 25 | 0.65× | 0.11× | ||
| Q1 25 | 0.56× | 0.12× | ||
| Q4 24 | 0.59× | 0.13× | ||
| Q3 24 | 0.55× | 0.13× |
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BRORMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $444.0M | $339.7M | ||
| Q3 25 | $468.0M | $457.3M | ||
| Q2 25 | $325.0M | $538.8M | ||
| Q1 25 | $213.0M | $578.7M | ||
| Q4 24 | $361.0M | $308.6M | ||
| Q3 24 | $440.0M | $325.5M |
自由现金流BRORMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $424.0M | $311.2M | ||
| Q3 25 | $452.0M | $414.4M | ||
| Q2 25 | $310.0M | $508.2M | ||
| Q1 25 | $196.0M | $557.9M | ||
| Q4 24 | $341.0M | $288.0M | ||
| Q3 24 | $417.0M | $307.7M |
自由现金流率BRORMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 26.4% | 21.9% | ||
| Q3 25 | 28.1% | 31.0% | ||
| Q2 25 | 24.1% | 37.7% | ||
| Q1 25 | 14.0% | 43.2% | ||
| Q4 24 | 28.8% | 22.5% | ||
| Q3 24 | 35.2% | 25.1% |
资本支出强度BRORMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 2.0% | ||
| Q3 25 | 1.0% | 3.2% | ||
| Q2 25 | 1.2% | 2.3% | ||
| Q1 25 | 1.2% | 1.6% | ||
| Q4 24 | 1.7% | 1.6% | ||
| Q3 24 | 1.9% | 1.5% |
现金转化率BRORMD
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 0.87× | ||
| Q3 25 | 2.06× | 1.31× | ||
| Q2 25 | 1.41× | 1.42× | ||
| Q1 25 | 0.64× | 1.59× | ||
| Q4 24 | 1.73× | 0.90× | ||
| Q3 24 | 1.88× | 1.05× |
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% |
RMD
暂无分部数据
