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嘉德诺（BTSG）与RENAISSANCERE HOLDINGS LTD（RNR）财务数据对比。点击上方公司名可切换其他公司
嘉德诺的季度营收约是RENAISSANCERE HOLDINGS LTD的1.6倍（$3.6B vs $2.2B），RENAISSANCERE HOLDINGS LTD净利率更高（23.5% vs 2.2%，领先21.3%），嘉德诺同比增速更快（16.3% vs -36.8%），过去两年嘉德诺的营收复合增速更高（17.4% vs -11.9%）
嘉德诺是美国跨国医疗服务企业，位列美国企业营收榜第15位，总部位于俄亥俄州都柏林。公司主营药品与医疗产品分销，服务覆盖超10万个网点，同时生产手套、手术服、流体管理产品等医用外科用品，还运营着规模位居前列的放射性药物网络。
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
BTSG vs RNR — 直观对比
营收规模更大
BTSG
是对方的1.6倍
$2.2B
营收增速更快
BTSG
高出53.1%
-36.8%
净利率更高
RNR
高出21.3%
2.2%
两年增速更快
BTSG
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $2.2B |
| 净利润 | $77.1M | $515.8M |
| 毛利率 | 11.6% | — |
| 营业利润率 | 3.0% | — |
| 净利率 | 2.2% | 23.5% |
| 营收同比 | 16.3% | -36.8% |
| 净利润同比 | 381.8% | 72.6% |
| 每股收益（稀释后） | $0.34 | $6.57 |
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BTSGRNR
| Q1 26 | — | $2.2B | ||
| Q4 25 | $3.6B | $3.0B | ||
| Q3 25 | $3.3B | $3.2B | ||
| Q2 25 | $3.1B | $3.2B | ||
| Q1 25 | $2.9B | $3.5B | ||
| Q4 24 | $3.1B | $2.3B | ||
| Q3 24 | $2.9B | $4.0B | ||
| Q2 24 | $2.7B | $2.8B |
净利润BTSGRNR
| Q1 26 | — | $515.8M | ||
| Q4 25 | $77.1M | $760.5M | ||
| Q3 25 | $55.8M | $916.5M | ||
| Q2 25 | $28.2M | $835.4M | ||
| Q1 25 | $29.5M | $170.0M | ||
| Q4 24 | $16.0M | $-189.7M | ||
| Q3 24 | $-8.2M | $1.2B | ||
| Q2 24 | $19.9M | $503.9M |
毛利率BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | 11.8% | — | ||
| Q4 24 | 13.8% | — | ||
| Q3 24 | 14.0% | — | ||
| Q2 24 | 14.2% | — |
营业利润率BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 42.5% | ||
| Q3 25 | 2.6% | 46.3% | ||
| Q2 25 | 1.5% | 41.8% | ||
| Q1 25 | 1.8% | -2.0% | ||
| Q4 24 | 2.6% | -3.6% | ||
| Q3 24 | 2.0% | 43.7% | ||
| Q2 24 | 2.3% | 25.0% |
净利率BTSGRNR
| Q1 26 | — | 23.5% | ||
| Q4 25 | 2.2% | 25.6% | ||
| Q3 25 | 1.7% | 28.7% | ||
| Q2 25 | 0.9% | 26.1% | ||
| Q1 25 | 1.0% | 4.9% | ||
| Q4 24 | 0.5% | -8.3% | ||
| Q3 24 | -0.3% | 29.8% | ||
| Q2 24 | 0.7% | 17.8% |
每股收益（稀释后）BTSGRNR
| Q1 26 | — | $6.57 | ||
| Q4 25 | $0.34 | $16.16 | ||
| Q3 25 | $0.26 | $19.40 | ||
| Q2 25 | $0.13 | $17.20 | ||
| Q1 25 | $0.14 | $3.27 | ||
| Q4 24 | $0.11 | $-3.76 | ||
| Q3 24 | $-0.04 | $22.62 | ||
| Q2 24 | $0.10 | $9.41 |
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 | $88.4M | $1.6B |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $1.9B | $4.3B |
| 总资产 | $6.4B | $53.7B |
| 负债/权益比越低杠杆越低 | 1.34× | — |
8季度趋势，按日历期对齐
现金及短期投资BTSGRNR
| Q1 26 | — | $1.6B | ||
| Q4 25 | $88.4M | $1.7B | ||
| Q3 25 | $140.3M | $1.7B | ||
| Q2 25 | $70.1M | $1.4B | ||
| Q1 25 | $52.3M | $1.6B | ||
| Q4 24 | $61.3M | $1.7B | ||
| Q3 24 | $36.0M | $1.6B | ||
| Q2 24 | $25.0M | $1.6B |
总债务BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.3B | ||
| Q3 25 | $2.5B | $2.2B | ||
| Q2 25 | $2.5B | $2.3B | ||
| Q1 25 | $2.5B | $2.8B | ||
| Q4 24 | $2.6B | $1.9B | ||
| Q3 24 | $2.7B | $1.9B | ||
| Q2 24 | $2.6B | $2.0B |
股东权益BTSGRNR
| Q1 26 | — | $4.3B | ||
| Q4 25 | $1.9B | $11.6B | ||
| Q3 25 | $1.8B | $11.5B | ||
| Q2 25 | $1.7B | $10.8B | ||
| Q1 25 | $1.7B | $10.3B | ||
| Q4 24 | $1.6B | $10.6B | ||
| Q3 24 | $1.6B | $11.2B | ||
| Q2 24 | $1.6B | $10.2B |
总资产BTSGRNR
| Q1 26 | — | $53.7B | ||
| Q4 25 | $6.4B | $53.8B | ||
| Q3 25 | $6.0B | $54.5B | ||
| Q2 25 | $5.9B | $54.7B | ||
| Q1 25 | $5.8B | $53.6B | ||
| Q4 24 | $5.9B | $50.7B | ||
| Q3 24 | $5.8B | $52.8B | ||
| Q2 24 | $5.6B | $51.6B |
负债/权益比BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 0.20× | ||
| Q3 25 | 1.38× | 0.19× | ||
| Q2 25 | 1.45× | 0.21× | ||
| Q1 25 | 1.50× | 0.27× | ||
| Q4 24 | 1.58× | 0.18× | ||
| Q3 24 | 1.65× | 0.17× | ||
| Q2 24 | 1.63× | 0.19× |
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 | $231.6M | — |
| 自由现金流经营现金流 - 资本支出 | $193.9M | — |
| 自由现金流率自由现金流/营收 | 5.5% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 3.00× | — |
| 过去12个月自由现金流最近4个季度 | $394.7M | — |
8季度趋势，按日历期对齐
经营现金流BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | $231.6M | $483.0M | ||
| Q3 25 | $107.9M | $1.6B | ||
| Q2 25 | $49.1M | $1.5B | ||
| Q1 25 | $101.6M | $157.8M | ||
| Q4 24 | $90.6M | $778.9M | ||
| Q3 24 | $27.2M | $1.5B | ||
| Q2 24 | $-15.2M | $1.2B |
自由现金流BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | $193.9M | — | ||
| Q3 25 | $92.2M | — | ||
| Q2 25 | $24.7M | — | ||
| Q1 25 | $84.0M | — | ||
| Q4 24 | $75.3M | — | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $-39.0M | — |
自由现金流率BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 2.5% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | -1.4% | — |
资本支出强度BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 0.9% | — |
现金转化率BTSGRNR
| Q1 26 | — | — | ||
| Q4 25 | 3.00× | 0.64× | ||
| Q3 25 | 1.93× | 1.73× | ||
| Q2 25 | 1.74× | 1.76× | ||
| Q1 25 | 3.44× | 0.93× | ||
| Q4 24 | 5.66× | — | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | -0.76× | 2.41× |
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
BTSG
| Medicare D | $1.1B | 32% |
| Commercial Insurance | $879.8M | 25% |
| Medicare C | $641.2M | 18% |
| Provider Services | $394.2M | 11% |
| Medicaid | $301.4M | 8% |
| Medicare A | $150.5M | 4% |
| Private And Other | $44.0M | 1% |
| Medicare B | $19.5M | 1% |
| Pharmacy Solutions And Provider Services Segments | $19.0M | 1% |
RNR
暂无分部数据
