vs
Brown & Brown（BRO）与SILGAN HOLDINGS INC（SLGN）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SILGAN HOLDINGS INC的1.1倍（$1.6B vs $1.5B），Brown & Brown净利率更高（16.5% vs 1.2%，领先15.3%），Brown & Brown同比增速更快（35.8% vs 4.1%），SILGAN HOLDINGS INC自由现金流更多（$1.2B vs $424.0M），过去两年Brown & Brown的营收复合增速更高（13.0% vs 5.6%）
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。
西尔根控股是一家总部位于美国康涅狄格州的消费品包装制造企业，1987年由原大陆制罐公司的两名高管菲尔·西尔弗与格雷格·霍里根共同创立，公司名称正是取自两位创始人的名字组合，目前在全球包装供应链中占据重要市场地位，为众多快消品牌提供各类包装解决方案。
BRO vs SLGN — 直观对比
营收规模更大
BRO
是对方的1.1倍
$1.5B
营收增速更快
BRO
高出31.8%
4.1%
净利率更高
BRO
高出15.3%
1.2%
自由现金流更多
SLGN
多$798.5M
$424.0M
两年增速更快
BRO
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.5B |
| 净利润 | $265.0M | $18.2M |
| 毛利率 | — | 17.2% |
| 营业利润率 | — | 3.6% |
| 净利率 | 16.5% | 1.2% |
| 营收同比 | 35.8% | 4.1% |
| 净利润同比 | 26.8% | -59.6% |
| 每股收益（稀释后） | $0.55 | $0.18 |
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BROSLGN
| Q4 25 | $1.6B | $1.5B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.2B | $1.4B | ||
| Q1 24 | $1.3B | $1.3B |
净利润BROSLGN
| Q4 25 | $265.0M | $18.2M | ||
| Q3 25 | $227.0M | $113.3M | ||
| Q2 25 | $231.0M | $88.9M | ||
| Q1 25 | $331.0M | $68.0M | ||
| Q4 24 | $209.0M | $45.1M | ||
| Q3 24 | $234.0M | $100.1M | ||
| Q2 24 | $257.0M | $76.1M | ||
| Q1 24 | $293.0M | $55.2M |
毛利率BROSLGN
| Q4 25 | — | 17.2% | ||
| Q3 25 | — | 16.3% | ||
| Q2 25 | — | 19.4% | ||
| Q1 25 | — | 18.4% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 18.5% | ||
| Q1 24 | — | 17.0% |
营业利润率BROSLGN
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | 23.3% | 3.4% | ||
| Q3 24 | 26.7% | 7.2% | ||
| Q2 24 | 29.4% | 7.3% | ||
| Q1 24 | 28.9% | 5.5% |
净利率BROSLGN
| Q4 25 | 16.5% | 1.2% | ||
| Q3 25 | 14.1% | 5.6% | ||
| Q2 25 | 18.0% | 5.8% | ||
| Q1 25 | 23.6% | 4.6% | ||
| Q4 24 | 17.7% | 3.2% | ||
| Q3 24 | 19.7% | 5.7% | ||
| Q2 24 | 21.8% | 5.5% | ||
| Q1 24 | 23.3% | 4.2% |
每股收益（稀释后）BROSLGN
| Q4 25 | $0.55 | $0.18 | ||
| Q3 25 | $0.68 | $1.06 | ||
| Q2 25 | $0.78 | $0.83 | ||
| Q1 25 | $1.15 | $0.63 | ||
| Q4 24 | $0.73 | $0.42 | ||
| Q3 24 | $0.81 | $0.93 | ||
| Q2 24 | $0.90 | $0.71 | ||
| Q1 24 | $1.02 | $0.52 |
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 | $1.1B |
| 总债务越低越好 | $7.6B | — |
| 股东权益账面价值 | $12.6B | $2.3B |
| 总资产 | $30.0B | $9.4B |
| 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BROSLGN
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.2B | $389.2M | ||
| Q2 25 | $8.9B | $317.5M | ||
| Q1 25 | $669.0M | $353.0M | ||
| Q4 24 | $685.0M | $822.9M | ||
| Q3 24 | $968.0M | $368.5M | ||
| Q2 24 | $1.1B | $302.8M | ||
| Q1 24 | $591.0M | $308.6M |
总债务BROSLGN
| 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 | — | ||
| Q1 24 | $3.9B | — |
股东权益BROSLGN
| Q4 25 | $12.6B | $2.3B | ||
| Q3 25 | $12.4B | $2.3B | ||
| Q2 25 | $11.6B | $2.2B | ||
| Q1 25 | $6.8B | $2.1B | ||
| Q4 24 | $6.4B | $2.0B | ||
| Q3 24 | $6.5B | $2.1B | ||
| Q2 24 | $6.0B | $1.9B | ||
| Q1 24 | $5.8B | $1.9B |
总资产BROSLGN
| Q4 25 | $30.0B | $9.4B | ||
| Q3 25 | $29.4B | $9.5B | ||
| Q2 25 | $25.6B | $9.4B | ||
| Q1 25 | $16.8B | $8.8B | ||
| Q4 24 | $17.6B | $8.6B | ||
| Q3 24 | $17.5B | $7.7B | ||
| Q2 24 | $15.9B | $7.7B | ||
| Q1 24 | $14.8B | $7.6B |
负债/权益比BROSLGN
| 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× | — | ||
| 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 | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $424.0M | $1.2B |
| 自由现金流率自由现金流/营收 | 26.4% | 83.2% |
| 资本支出强度资本支出/营收 | 1.2% | 4.9% |
| 现金转化率经营现金流/净利润 | 1.68× | 71.07× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $422.7M |
8季度趋势，按日历期对齐
经营现金流BROSLGN
| Q4 25 | $444.0M | $1.3B | ||
| Q3 25 | $468.0M | $340.9M | ||
| Q2 25 | $325.0M | $-221.4M | ||
| Q1 25 | $213.0M | $-683.4M | ||
| Q4 24 | $361.0M | $935.8M | ||
| Q3 24 | $440.0M | $313.0M | ||
| Q2 24 | $360.0M | $20.9M | ||
| Q1 24 | $13.0M | $-547.8M |
自由现金流BROSLGN
| Q4 25 | $424.0M | $1.2B | ||
| Q3 25 | $452.0M | $260.8M | ||
| Q2 25 | $310.0M | $-294.2M | ||
| Q1 25 | $196.0M | $-766.3M | ||
| Q4 24 | $341.0M | $865.0M | ||
| Q3 24 | $417.0M | $252.4M | ||
| Q2 24 | $334.0M | $-35.3M | ||
| Q1 24 | $0 | $-623.1M |
自由现金流率BROSLGN
| Q4 25 | 26.4% | 83.2% | ||
| Q3 25 | 28.1% | 13.0% | ||
| Q2 25 | 24.1% | -19.1% | ||
| Q1 25 | 14.0% | -52.2% | ||
| Q4 24 | 28.8% | 61.3% | ||
| Q3 24 | 35.2% | 14.5% | ||
| Q2 24 | 28.4% | -2.6% | ||
| Q1 24 | 0.0% | -47.3% |
资本支出强度BROSLGN
| Q4 25 | 1.2% | 4.9% | ||
| Q3 25 | 1.0% | 4.0% | ||
| Q2 25 | 1.2% | 4.7% | ||
| Q1 25 | 1.2% | 5.7% | ||
| Q4 24 | 1.7% | 5.0% | ||
| Q3 24 | 1.9% | 3.5% | ||
| Q2 24 | 2.2% | 4.1% | ||
| Q1 24 | 1.0% | 5.7% |
现金转化率BROSLGN
| Q4 25 | 1.68× | 71.07× | ||
| Q3 25 | 2.06× | 3.01× | ||
| Q2 25 | 1.41× | -2.49× | ||
| Q1 25 | 0.64× | -10.06× | ||
| Q4 24 | 1.73× | 20.77× | ||
| Q3 24 | 1.88× | 3.13× | ||
| Q2 24 | 1.40× | 0.27× | ||
| Q1 24 | 0.04× | -9.93× |
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% |
SLGN
| Metal Containers | $675.6M | 46% |
| Dispensing And Specialty Closures | $643.6M | 44% |
| Custom Containers | $149.4M | 10% |
