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Brown & Brown（BRO）与RPM INTERNATIONAL INC（RPM）财务数据对比。点击上方公司名可切换其他公司
RPM INTERNATIONAL INC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 8.4%，领先8.0%），Brown & Brown同比增速更快（35.8% vs 3.5%），Brown & Brown自由现金流更多（$424.0M vs $296.4M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 12.0%）
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。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
BRO vs RPM — 直观对比
营收规模更大
RPM
是对方的1.2倍
$1.6B
营收增速更快
BRO
高出32.3%
3.5%
净利率更高
BRO
高出8.0%
8.4%
自由现金流更多
BRO
多$127.6M
$296.4M
两年增速更快
BRO
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.9B |
| 净利润 | $265.0M | $161.2M |
| 毛利率 | — | 40.8% |
| 营业利润率 | — | 11.0% |
| 净利率 | 16.5% | 8.4% |
| 营收同比 | 35.8% | 3.5% |
| 净利润同比 | 26.8% | -12.0% |
| 每股收益（稀释后） | $0.55 | $1.26 |
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BRORPM
| Q4 25 | $1.6B | $1.9B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.0B | ||
| Q2 24 | $1.2B | $2.0B | ||
| Q1 24 | $1.3B | $1.5B |
净利润BRORPM
| Q4 25 | $265.0M | $161.2M | ||
| Q3 25 | $227.0M | $227.6M | ||
| Q2 25 | $231.0M | $225.8M | ||
| Q1 25 | $331.0M | $52.0M | ||
| Q4 24 | $209.0M | $183.2M | ||
| Q3 24 | $234.0M | $227.7M | ||
| Q2 24 | $257.0M | $180.6M | ||
| Q1 24 | $293.0M | $61.2M |
毛利率BRORPM
| Q4 25 | — | 40.8% | ||
| Q3 25 | — | 42.3% | ||
| Q2 25 | — | 42.4% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 41.4% | ||
| Q1 24 | — | 39.9% |
营业利润率BRORPM
| Q4 25 | — | 11.0% | ||
| Q3 25 | — | 14.1% | ||
| Q2 25 | — | 11.9% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | 23.3% | 11.5% | ||
| Q3 24 | 26.7% | 14.8% | ||
| Q2 24 | 29.4% | 11.9% | ||
| Q1 24 | 28.9% | 5.5% |
净利率BRORPM
| Q4 25 | 16.5% | 8.4% | ||
| Q3 25 | 14.1% | 10.8% | ||
| Q2 25 | 18.0% | 10.8% | ||
| Q1 25 | 23.6% | 3.5% | ||
| Q4 24 | 17.7% | 9.9% | ||
| Q3 24 | 19.7% | 11.6% | ||
| Q2 24 | 21.8% | 9.0% | ||
| Q1 24 | 23.3% | 4.0% |
每股收益（稀释后）BRORPM
| Q4 25 | $0.55 | $1.26 | ||
| Q3 25 | $0.68 | $1.77 | ||
| Q2 25 | $0.78 | $1.76 | ||
| Q1 25 | $1.15 | $0.40 | ||
| Q4 24 | $0.73 | $1.42 | ||
| Q3 24 | $0.81 | $1.77 | ||
| Q2 24 | $0.90 | $1.40 | ||
| Q1 24 | $1.02 | $0.47 |
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 | $316.6M |
| 总债务越低越好 | $7.6B | $2.5B |
| 股东权益账面价值 | $12.6B | $3.1B |
| 总资产 | $30.0B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.61× | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资BRORPM
| Q4 25 | $1.1B | $316.6M | ||
| Q3 25 | $1.2B | $297.1M | ||
| Q2 25 | $8.9B | $302.1M | ||
| Q1 25 | $669.0M | $241.9M | ||
| Q4 24 | $685.0M | $268.7M | ||
| Q3 24 | $968.0M | $231.6M | ||
| Q2 24 | $1.1B | $237.4M | ||
| Q1 24 | $591.0M | $248.9M |
总债务BRORPM
| Q4 25 | $7.6B | $2.5B | ||
| Q3 25 | $7.7B | $2.7B | ||
| Q2 25 | $7.5B | $2.6B | ||
| Q1 25 | $3.8B | $2.1B | ||
| Q4 24 | $3.8B | $2.0B | ||
| Q3 24 | $3.6B | $2.0B | ||
| Q2 24 | $4.1B | $2.0B | ||
| Q1 24 | $3.9B | $2.2B |
股东权益BRORPM
| Q4 25 | $12.6B | $3.1B | ||
| Q3 25 | $12.4B | $3.1B | ||
| Q2 25 | $11.6B | $2.9B | ||
| Q1 25 | $6.8B | $2.7B | ||
| Q4 24 | $6.4B | $2.7B | ||
| Q3 24 | $6.5B | $2.6B | ||
| Q2 24 | $6.0B | $2.5B | ||
| Q1 24 | $5.8B | $2.3B |
总资产BRORPM
| Q4 25 | $30.0B | $7.9B | ||
| Q3 25 | $29.4B | $7.9B | ||
| Q2 25 | $25.6B | $7.8B | ||
| Q1 25 | $16.8B | $6.6B | ||
| Q4 24 | $17.6B | $6.7B | ||
| Q3 24 | $17.5B | $6.6B | ||
| Q2 24 | $15.9B | $6.6B | ||
| Q1 24 | $14.8B | $6.4B |
负债/权益比BRORPM
| Q4 25 | 0.61× | 0.80× | ||
| Q3 25 | 0.62× | 0.87× | ||
| Q2 25 | 0.65× | 0.91× | ||
| Q1 25 | 0.56× | 0.78× | ||
| Q4 24 | 0.59× | 0.74× | ||
| Q3 24 | 0.55× | 0.77× | ||
| Q2 24 | 0.68× | 0.79× | ||
| Q1 24 | 0.67× | 0.93× |
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 | $345.7M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $296.4M |
| 自由现金流率自由现金流/营收 | 26.4% | 15.5% |
| 资本支出强度资本支出/营收 | 1.2% | 2.6% |
| 现金转化率经营现金流/净利润 | 1.68× | 2.14× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $582.9M |
8季度趋势，按日历期对齐
经营现金流BRORPM
| Q4 25 | $444.0M | $345.7M | ||
| Q3 25 | $468.0M | $237.5M | ||
| Q2 25 | $325.0M | $149.2M | ||
| Q1 25 | $213.0M | $91.5M | ||
| Q4 24 | $361.0M | $279.4M | ||
| Q3 24 | $440.0M | $248.1M | ||
| Q2 24 | $360.0M | $181.2M | ||
| Q1 24 | $13.0M | $173.4M |
自由现金流BRORPM
| Q4 25 | $424.0M | $296.4M | ||
| Q3 25 | $452.0M | $175.0M | ||
| Q2 25 | $310.0M | $78.2M | ||
| Q1 25 | $196.0M | $33.3M | ||
| Q4 24 | $341.0M | $229.5M | ||
| Q3 24 | $417.0M | $197.3M | ||
| Q2 24 | $334.0M | $105.3M | ||
| Q1 24 | $0 | $124.6M |
自由现金流率BRORPM
| Q4 25 | 26.4% | 15.5% | ||
| Q3 25 | 28.1% | 8.3% | ||
| Q2 25 | 24.1% | 3.8% | ||
| Q1 25 | 14.0% | 2.3% | ||
| Q4 24 | 28.8% | 12.4% | ||
| Q3 24 | 35.2% | 10.0% | ||
| Q2 24 | 28.4% | 5.2% | ||
| Q1 24 | 0.0% | 8.2% |
资本支出强度BRORPM
| Q4 25 | 1.2% | 2.6% | ||
| Q3 25 | 1.0% | 3.0% | ||
| Q2 25 | 1.2% | 3.4% | ||
| Q1 25 | 1.2% | 3.9% | ||
| Q4 24 | 1.7% | 2.7% | ||
| Q3 24 | 1.9% | 2.6% | ||
| Q2 24 | 2.2% | 3.8% | ||
| Q1 24 | 1.0% | 3.2% |
现金转化率BRORPM
| Q4 25 | 1.68× | 2.14× | ||
| Q3 25 | 2.06× | 1.04× | ||
| Q2 25 | 1.41× | 0.66× | ||
| Q1 25 | 0.64× | 1.76× | ||
| Q4 24 | 1.73× | 1.53× | ||
| Q3 24 | 1.88× | 1.09× | ||
| Q2 24 | 1.40× | 1.00× | ||
| Q1 24 | 0.04× | 2.83× |
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% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
