vs
Brown & Brown（BRO）与ROKU, INC（ROKU）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ROKU, INC的1.3倍（$1.6B vs $1.2B），Brown & Brown净利率更高（16.5% vs -2.2%，领先18.7%），Brown & Brown同比增速更快（35.8% vs -18.3%），Brown & Brown自由现金流更多（$424.0M vs $298.4M），过去两年ROKU, INC的营收复合增速更高（13.6% 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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
BRO vs ROKU — 直观对比
营收规模更大
BRO
是对方的1.3倍
$1.2B
营收增速更快
BRO
高出54.1%
-18.3%
净利率更高
BRO
高出18.7%
-2.2%
自由现金流更多
BRO
多$125.6M
$298.4M
两年增速更快
ROKU
近两年复合增速
13.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $265.0M | $-27.4M |
| 毛利率 | — | 35.6% |
| 营业利润率 | — | 59.7% |
| 净利率 | 16.5% | -2.2% |
| 营收同比 | 35.8% | -18.3% |
| 净利润同比 | 26.8% | -361.0% |
| 每股收益（稀释后） | $0.55 | $0.57 |
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BROROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $968.2M |
净利润BROROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $265.0M | $80.5M | ||
| Q3 25 | $227.0M | $24.8M | ||
| Q2 25 | $231.0M | $10.5M | ||
| Q1 25 | $331.0M | $-27.4M | ||
| Q4 24 | $209.0M | $-35.5M | ||
| Q3 24 | $234.0M | $-9.0M | ||
| Q2 24 | $257.0M | $-34.0M |
毛利率BROROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.9% |
营业利润率BROROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | -2.1% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | 23.3% | -3.3% | ||
| Q3 24 | 26.7% | -3.4% | ||
| Q2 24 | 29.4% | -7.4% |
净利率BROROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 16.5% | 5.8% | ||
| Q3 25 | 14.1% | 2.0% | ||
| Q2 25 | 18.0% | 0.9% | ||
| Q1 25 | 23.6% | -2.7% | ||
| Q4 24 | 17.7% | -3.0% | ||
| Q3 24 | 19.7% | -0.9% | ||
| Q2 24 | 21.8% | -3.5% |
每股收益（稀释后）BROROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $0.55 | $0.55 | ||
| Q3 25 | $0.68 | $0.16 | ||
| Q2 25 | $0.78 | $0.07 | ||
| Q1 25 | $1.15 | $-0.19 | ||
| Q4 24 | $0.73 | $-0.24 | ||
| Q3 24 | $0.81 | $-0.06 | ||
| Q2 24 | $0.90 | $-0.24 |
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 | $2.4B |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $12.6B | $2.7B |
| 总资产 | $30.0B | $4.4B |
| 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BROROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.1B | $2.3B | ||
| Q3 25 | $1.2B | $2.3B | ||
| Q2 25 | $8.9B | $2.3B | ||
| Q1 25 | $669.0M | $2.3B | ||
| Q4 24 | $685.0M | $2.2B | ||
| Q3 24 | $968.0M | $2.1B | ||
| Q2 24 | $1.1B | $2.1B |
总债务BROROKU
| Q1 26 | — | — | ||
| Q4 25 | $7.6B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $4.1B | — |
股东权益BROROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $12.6B | $2.7B | ||
| Q3 25 | $12.4B | $2.6B | ||
| Q2 25 | $11.6B | $2.6B | ||
| Q1 25 | $6.8B | $2.5B | ||
| Q4 24 | $6.4B | $2.5B | ||
| Q3 24 | $6.5B | $2.5B | ||
| Q2 24 | $6.0B | $2.4B |
总资产BROROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $30.0B | $4.4B | ||
| Q3 25 | $29.4B | $4.4B | ||
| Q2 25 | $25.6B | $4.3B | ||
| Q1 25 | $16.8B | $4.2B | ||
| Q4 24 | $17.6B | $4.3B | ||
| Q3 24 | $17.5B | $4.3B | ||
| Q2 24 | $15.9B | $4.1B |
负债/权益比BROROKU
| Q1 26 | — | — | ||
| 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 | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $298.4M |
| 自由现金流率自由现金流/营收 | 26.4% | 23.9% |
| 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 | $640.0M |
8季度趋势，按日历期对齐
经营现金流BROROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $444.0M | $107.7M | ||
| Q3 25 | $468.0M | $127.6M | ||
| Q2 25 | $325.0M | $109.7M | ||
| Q1 25 | $213.0M | $138.7M | ||
| Q4 24 | $361.0M | $79.3M | ||
| Q3 24 | $440.0M | $68.7M | ||
| Q2 24 | $360.0M | $23.4M |
自由现金流BROROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $424.0M | $106.6M | ||
| Q3 25 | $452.0M | $126.5M | ||
| Q2 25 | $310.0M | $108.6M | ||
| Q1 25 | $196.0M | $136.8M | ||
| Q4 24 | $341.0M | $76.8M | ||
| Q3 24 | $417.0M | $67.6M | ||
| Q2 24 | $334.0M | $22.5M |
自由现金流率BROROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 26.4% | 7.6% | ||
| Q3 25 | 28.1% | 10.4% | ||
| Q2 25 | 24.1% | 9.8% | ||
| Q1 25 | 14.0% | 13.4% | ||
| Q4 24 | 28.8% | 6.4% | ||
| Q3 24 | 35.2% | 6.4% | ||
| Q2 24 | 28.4% | 2.3% |
资本支出强度BROROKU
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 0.1% | ||
| Q3 25 | 1.0% | 0.1% | ||
| Q2 25 | 1.2% | 0.1% | ||
| Q1 25 | 1.2% | 0.2% | ||
| Q4 24 | 1.7% | 0.2% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 2.2% | 0.1% |
现金转化率BROROKU
| Q1 26 | — | — | ||
| Q4 25 | 1.68× | 1.34× | ||
| Q3 25 | 2.06× | 5.14× | ||
| Q2 25 | 1.41× | 10.45× | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | 1.73× | — | ||
| Q3 24 | 1.88× | — | ||
| Q2 24 | 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% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
