vs
Brown & Brown（BRO）与Sinclair, Inc.（SBGI）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Sinclair, Inc.的1.9倍（$1.6B vs $836.0M），Brown & Brown净利率更高（16.5% vs 13.0%，领先3.5%），Brown & Brown同比增速更快（35.8% vs -16.7%），Brown & Brown自由现金流更多（$424.0M vs $79.0M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 2.4%）
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。
辛克莱公司（以辛克莱广播集团开展业务）是一家上市的美国电信综合企业，由创始人朱利安·辛克莱·史密斯的后代控股。公司总部位于马里兰州巴尔的摩郊县科基斯维尔，按电视台数量计算是美国第二大电视台运营商，仅次于奈克斯达媒体集团，在全国100多个市场拥有或运营193家电视台，覆盖美国40%的区域。
BRO vs SBGI — 直观对比
营收规模更大
BRO
是对方的1.9倍
$836.0M
营收增速更快
BRO
高出52.6%
-16.7%
净利率更高
BRO
高出3.5%
13.0%
自由现金流更多
BRO
多$345.0M
$79.0M
两年增速更快
BRO
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $836.0M |
| 净利润 | $265.0M | $109.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 9.6% |
| 净利率 | 16.5% | 13.0% |
| 营收同比 | 35.8% | -16.7% |
| 净利润同比 | 26.8% | -38.1% |
| 每股收益（稀释后） | $0.55 | $1.62 |
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BROSBGI
| Q4 25 | $1.6B | $836.0M | ||
| Q3 25 | $1.6B | $773.0M | ||
| Q2 25 | $1.3B | $784.0M | ||
| Q1 25 | $1.4B | $776.0M | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.2B | $917.0M | ||
| Q2 24 | $1.2B | $829.0M | ||
| Q1 24 | $1.3B | $798.0M |
净利润BROSBGI
| Q4 25 | $265.0M | $109.0M | ||
| Q3 25 | $227.0M | $-1.0M | ||
| Q2 25 | $231.0M | $-64.0M | ||
| Q1 25 | $331.0M | $-156.0M | ||
| Q4 24 | $209.0M | $176.0M | ||
| Q3 24 | $234.0M | $94.0M | ||
| Q2 24 | $257.0M | $17.0M | ||
| Q1 24 | $293.0M | $23.0M |
营业利润率BROSBGI
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | 23.3% | 26.5% | ||
| Q3 24 | 26.7% | 19.5% | ||
| Q2 24 | 29.4% | 7.7% | ||
| Q1 24 | 28.9% | 5.3% |
净利率BROSBGI
| Q4 25 | 16.5% | 13.0% | ||
| Q3 25 | 14.1% | -0.1% | ||
| Q2 25 | 18.0% | -8.2% | ||
| Q1 25 | 23.6% | -20.1% | ||
| Q4 24 | 17.7% | 17.5% | ||
| Q3 24 | 19.7% | 10.3% | ||
| Q2 24 | 21.8% | 2.1% | ||
| Q1 24 | 23.3% | 2.9% |
每股收益（稀释后）BROSBGI
| Q4 25 | $0.55 | $1.62 | ||
| Q3 25 | $0.68 | $-0.02 | ||
| Q2 25 | $0.78 | $-0.91 | ||
| Q1 25 | $1.15 | $-2.30 | ||
| Q4 24 | $0.73 | $2.64 | ||
| Q3 24 | $0.81 | $1.43 | ||
| Q2 24 | $0.90 | $0.27 | ||
| Q1 24 | $1.02 | $0.35 |
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 | $866.0M |
| 总债务越低越好 | $7.6B | $4.4B |
| 股东权益账面价值 | $12.6B | $443.0M |
| 总资产 | $30.0B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.61× | 9.84× |
8季度趋势，按日历期对齐
现金及短期投资BROSBGI
| Q4 25 | $1.1B | $866.0M | ||
| Q3 25 | $1.2B | $526.0M | ||
| Q2 25 | $8.9B | $616.0M | ||
| Q1 25 | $669.0M | $631.0M | ||
| Q4 24 | $685.0M | $697.0M | ||
| Q3 24 | $968.0M | $536.0M | ||
| Q2 24 | $1.1B | $378.0M | ||
| Q1 24 | $591.0M | $655.0M |
总债务BROSBGI
| Q4 25 | $7.6B | $4.4B | ||
| Q3 25 | $7.7B | $4.1B | ||
| Q2 25 | $7.5B | $4.1B | ||
| Q1 25 | $3.8B | $4.2B | ||
| Q4 24 | $3.8B | $4.1B | ||
| Q3 24 | $3.6B | $4.1B | ||
| Q2 24 | $4.1B | $4.1B | ||
| Q1 24 | $3.9B | $4.1B |
股东权益BROSBGI
| Q4 25 | $12.6B | $443.0M | ||
| Q3 25 | $12.4B | $347.0M | ||
| Q2 25 | $11.6B | $361.0M | ||
| Q1 25 | $6.8B | $436.0M | ||
| Q4 24 | $6.4B | $583.0M | ||
| Q3 24 | $6.5B | $415.0M | ||
| Q2 24 | $6.0B | $340.0M | ||
| Q1 24 | $5.8B | $333.0M |
总资产BROSBGI
| Q4 25 | $30.0B | $5.9B | ||
| Q3 25 | $29.4B | $5.6B | ||
| Q2 25 | $25.6B | $5.7B | ||
| Q1 25 | $16.8B | $5.8B | ||
| Q4 24 | $17.6B | $5.9B | ||
| Q3 24 | $17.5B | $5.8B | ||
| Q2 24 | $15.9B | $5.7B | ||
| Q1 24 | $14.8B | $6.0B |
负债/权益比BROSBGI
| Q4 25 | 0.61× | 9.84× | ||
| Q3 25 | 0.62× | 11.75× | ||
| Q2 25 | 0.65× | 11.30× | ||
| Q1 25 | 0.56× | 9.56× | ||
| Q4 24 | 0.59× | 7.02× | ||
| Q3 24 | 0.55× | 9.86× | ||
| Q2 24 | 0.68× | 12.08× | ||
| Q1 24 | 0.67× | 12.35× |
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 | $98.0M |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $79.0M |
| 自由现金流率自由现金流/营收 | 26.4% | 9.4% |
| 资本支出强度资本支出/营收 | 1.2% | 2.3% |
| 现金转化率经营现金流/净利润 | 1.68× | 0.90× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $115.0M |
8季度趋势，按日历期对齐
经营现金流BROSBGI
| Q4 25 | $444.0M | $98.0M | ||
| Q3 25 | $468.0M | $-36.0M | ||
| Q2 25 | $325.0M | $122.0M | ||
| Q1 25 | $213.0M | $5.0M | ||
| Q4 24 | $361.0M | $198.0M | ||
| Q3 24 | $440.0M | $210.0M | ||
| Q2 24 | $360.0M | $-306.0M | ||
| Q1 24 | $13.0M | $-4.0M |
自由现金流BROSBGI
| Q4 25 | $424.0M | $79.0M | ||
| Q3 25 | $452.0M | $-58.0M | ||
| Q2 25 | $310.0M | $105.0M | ||
| Q1 25 | $196.0M | $-11.0M | ||
| Q4 24 | $341.0M | $175.0M | ||
| Q3 24 | $417.0M | $193.0M | ||
| Q2 24 | $334.0M | $-329.0M | ||
| Q1 24 | $0 | $-25.0M |
自由现金流率BROSBGI
| Q4 25 | 26.4% | 9.4% | ||
| Q3 25 | 28.1% | -7.5% | ||
| Q2 25 | 24.1% | 13.4% | ||
| Q1 25 | 14.0% | -1.4% | ||
| Q4 24 | 28.8% | 17.4% | ||
| Q3 24 | 35.2% | 21.0% | ||
| Q2 24 | 28.4% | -39.7% | ||
| Q1 24 | 0.0% | -3.1% |
资本支出强度BROSBGI
| Q4 25 | 1.2% | 2.3% | ||
| Q3 25 | 1.0% | 2.8% | ||
| Q2 25 | 1.2% | 2.2% | ||
| Q1 25 | 1.2% | 2.1% | ||
| Q4 24 | 1.7% | 2.3% | ||
| Q3 24 | 1.9% | 1.9% | ||
| Q2 24 | 2.2% | 2.8% | ||
| Q1 24 | 1.0% | 2.6% |
现金转化率BROSBGI
| Q4 25 | 1.68× | 0.90× | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 0.64× | — | ||
| Q4 24 | 1.73× | 1.13× | ||
| Q3 24 | 1.88× | 2.23× | ||
| Q2 24 | 1.40× | -18.00× | ||
| Q1 24 | 0.04× | -0.17× |
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% |
SBGI
| Distribution Revenue | $384.0M | 46% |
| Core Advertising Revenue | $312.0M | 37% |
| Tennis Segment | $62.0M | 7% |
| Other | $40.0M | 5% |
| Other Media Non Media Revenuesand Intercompany Revenues | $24.0M | 3% |
| Political Advertising Revenue | $14.0M | 2% |
