vs
微牛（BULL）与Jefferies Financial Group Inc.（JEF）财务数据对比。点击上方公司名可切换其他公司
Jefferies Financial Group Inc.的季度营收约是微牛的12.7倍（$1.7B vs $131.5M）。Jefferies Financial Group Inc.净利率更高（12.6% vs -21.5%，领先34.1%）。Jefferies Financial Group Inc.自由现金流更多（$1.9B vs $271.7M）
微牛（Webull）是总部位于美国佛罗里达州圣彼得堡的金融服务控股企业，核心运营与品牌同名的电子交易平台，面向用户提供便捷的线上证券等金融产品交易服务，是海外知名的互联网券商服务提供商。
杰富瑞金融集团是总部位于美国纽约的金融服务企业，在纽约证券交易所挂牌上市，同时位列财富1000强榜单，为全球客户提供专业的金融相关服务。
BULL vs JEF — 直观对比
营收规模更大
JEF
是对方的12.7倍
$131.5M
净利率更高
JEF
高出34.1%
-21.5%
自由现金流更多
JEF
多$1.6B
$271.7M
损益表 — Q2 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $131.5M | $1.7B |
| 净利润 | $-28.3M | $211.3M |
| 毛利率 | — | 95.7% |
| 营业利润率 | -16.3% | 15.2% |
| 净利率 | -21.5% | 12.6% |
| 营收同比 | 46.3% | — |
| 净利润同比 | -144.3% | — |
| 每股收益（稀释后） | — | $0.85 |
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BULLJEF
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $131.5M | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $89.9M | $1.0B | ||
| Q1 24 | — | $971.2M |
净利润BULLJEF
| Q4 25 | — | $211.3M | ||
| Q3 25 | — | $242.5M | ||
| Q2 25 | $-28.3M | $91.4M | ||
| Q1 25 | — | $136.8M | ||
| Q3 24 | — | $181.0M | ||
| Q2 24 | $-11.6M | $154.7M | ||
| Q1 24 | — | $156.4M |
毛利率BULLJEF
| Q4 25 | — | 95.7% | ||
| Q3 25 | — | 97.7% | ||
| Q2 25 | — | 96.5% | ||
| Q1 25 | — | 96.4% | ||
| Q3 24 | — | 96.9% | ||
| Q2 24 | — | 96.4% | ||
| Q1 24 | — | 96.4% |
营业利润率BULLJEF
| Q4 25 | — | 15.2% | ||
| Q3 25 | — | 22.1% | ||
| Q2 25 | -16.3% | 11.0% | ||
| Q1 25 | — | 13.2% | ||
| Q3 24 | — | 20.7% | ||
| Q2 24 | -11.4% | 22.0% | ||
| Q1 24 | — | 22.7% |
净利率BULLJEF
| Q4 25 | — | 12.6% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | -21.5% | 7.4% | ||
| Q1 25 | — | 12.0% | ||
| Q3 24 | — | 14.8% | ||
| Q2 24 | -12.9% | 14.9% | ||
| Q1 24 | — | 16.1% |
每股收益（稀释后）BULLJEF
| Q4 25 | — | $0.85 | ||
| Q3 25 | — | $1.01 | ||
| Q2 25 | — | $0.40 | ||
| Q1 25 | — | $0.57 | ||
| Q3 24 | — | $0.75 | ||
| Q2 24 | — | $0.64 | ||
| Q1 24 | — | $0.66 |
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 | $476.7M | $14.0B |
| 总债务越低越好 | — | $15.9B |
| 股东权益账面价值 | $751.6M | $10.6B |
| 总资产 | $2.6B | $76.0B |
| 负债/权益比越低杠杆越低 | — | 1.50× |
8季度趋势，按日历期对齐
现金及短期投资BULLJEF
| Q4 25 | — | $14.0B | ||
| Q3 25 | — | $11.5B | ||
| Q2 25 | $476.7M | $11.3B | ||
| Q1 25 | — | $11.2B | ||
| Q3 24 | — | $10.6B | ||
| Q2 24 | — | $10.8B | ||
| Q1 24 | — | $7.6B |
总债务BULLJEF
| Q4 25 | — | $15.9B | ||
| Q3 25 | — | $16.0B | ||
| Q2 25 | — | $15.4B | ||
| Q1 25 | — | $14.8B | ||
| Q3 24 | — | $12.9B | ||
| Q2 24 | — | $12.7B | ||
| Q1 24 | — | $9.9B |
股东权益BULLJEF
| Q4 25 | — | $10.6B | ||
| Q3 25 | — | $10.4B | ||
| Q2 25 | $751.6M | $10.3B | ||
| Q1 25 | — | $10.2B | ||
| Q3 24 | — | $10.0B | ||
| Q2 24 | $-2.9B | $9.9B | ||
| Q1 24 | — | $9.8B |
总资产BULLJEF
| Q4 25 | — | $76.0B | ||
| Q3 25 | — | $69.3B | ||
| Q2 25 | $2.6B | $67.3B | ||
| Q1 25 | — | $70.2B | ||
| Q3 24 | — | $63.3B | ||
| Q2 24 | — | $63.0B | ||
| Q1 24 | — | $60.9B |
负债/权益比BULLJEF
| Q4 25 | — | 1.50× | ||
| Q3 25 | — | 1.53× | ||
| Q2 25 | — | 1.49× | ||
| Q1 25 | — | 1.45× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.01× |
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 | $272.1M | $2.0B |
| 自由现金流经营现金流 - 资本支出 | $271.7M | $1.9B |
| 自由现金流率自由现金流/营收 | 206.6% | 114.2% |
| 资本支出强度资本支出/营收 | 0.3% | 3.4% |
| 现金转化率经营现金流/净利润 | — | 9.30× |
| 过去12个月自由现金流最近4个季度 | — | $-1.7B |
8季度趋势，按日历期对齐
经营现金流BULLJEF
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $184.2M | ||
| Q2 25 | $272.1M | $-978.3M | ||
| Q1 25 | — | $-2.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-1.3B |
自由现金流BULLJEF
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $126.0M | ||
| Q2 25 | $271.7M | $-1.0B | ||
| Q1 25 | — | $-2.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-1.4B |
自由现金流率BULLJEF
| Q4 25 | — | 114.2% | ||
| Q3 25 | — | 8.4% | ||
| Q2 25 | 206.6% | -83.3% | ||
| Q1 25 | — | -237.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -139.4% |
资本支出强度BULLJEF
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | 0.3% | 3.6% | ||
| Q1 25 | — | 4.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 9.9% |
现金转化率BULLJEF
| Q4 25 | — | 9.30× | ||
| Q3 25 | — | 0.76× | ||
| Q2 25 | — | -10.70× | ||
| Q1 25 | — | -19.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -8.04× |
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
BULL
暂无分部数据
JEF
| Investment Banking Underwriting | $555.6M | 33% |
| Principal Transactions Revenue | $378.3M | 23% |
| Commissions And Other Fees | $356.0M | 21% |
| Other | $177.8M | 11% |
| Internet Connection And Boadband Revenue | $57.0M | 3% |
| Other Sources Of Revenue Miscellaneous | $53.3M | 3% |
| Real Estate | $50.7M | 3% |
| Strategic Affiliates Revenue | $13.8M | 1% |
| Asset Management1 | $12.1M | 1% |
| Fixed Income Services | $1.6M | 0% |
