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微牛（BULL）与道富集团（STT）财务数据对比。点击上方公司名可切换其他公司
道富集团的季度营收约是微牛的27.9倍（$3.7B vs $131.5M）。道富集团净利率更高（20.4% vs -21.5%，领先41.9%）。微牛同比增速更快（46.3% vs 7.5%）。道富集团自由现金流更多（$9.8B 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。
道富集团是总部位于美国波士顿的跨国金融服务及银行控股公司，历史可追溯至1792年成立的联合银行，是美国运营历史第二悠久的存续银行。作为全球顶尖的资产管理与托管机构，截至2025年第三季度，其管理资产规模约5.4万亿美元，托管及管理资产总规模达51.7万亿美元。
BULL vs STT — 直观对比
营收规模更大
STT
是对方的27.9倍
$131.5M
营收增速更快
BULL
高出38.8%
7.5%
净利率更高
STT
高出41.9%
-21.5%
自由现金流更多
STT
多$9.5B
$271.7M
损益表 — Q2 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $131.5M | $3.7B |
| 净利润 | $-28.3M | $747.0M |
| 毛利率 | — | — |
| 营业利润率 | -16.3% | 25.0% |
| 净利率 | -21.5% | 20.4% |
| 营收同比 | 46.3% | 7.5% |
| 净利润同比 | -144.3% | -4.6% |
| 每股收益（稀释后） | — | $2.41 |
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BULLSTT
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | $131.5M | $3.4B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | $89.9M | $3.2B | ||
| Q1 24 | — | $3.1B |
净利润BULLSTT
| Q4 25 | — | $747.0M | ||
| Q3 25 | — | $861.0M | ||
| Q2 25 | $-28.3M | $693.0M | ||
| Q1 25 | — | $644.0M | ||
| Q4 24 | — | $783.0M | ||
| Q3 24 | — | $730.0M | ||
| Q2 24 | $-11.6M | $711.0M | ||
| Q1 24 | — | $463.0M |
营业利润率BULLSTT
| Q4 25 | — | 25.0% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | -16.3% | 25.8% | ||
| Q1 25 | — | 25.0% | ||
| Q4 24 | — | 28.1% | ||
| Q3 24 | — | 28.4% | ||
| Q2 24 | -11.4% | 28.6% | ||
| Q1 24 | — | 19.1% |
净利率BULLSTT
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | -21.5% | 20.1% | ||
| Q1 25 | — | 19.6% | ||
| Q4 24 | — | 22.9% | ||
| Q3 24 | — | 22.4% | ||
| Q2 24 | -12.9% | 22.3% | ||
| Q1 24 | — | 14.8% |
每股收益（稀释后）BULLSTT
| Q4 25 | — | $2.41 | ||
| Q3 25 | — | $2.78 | ||
| Q2 25 | — | $2.17 | ||
| Q1 25 | — | $2.04 | ||
| Q4 24 | — | $2.43 | ||
| Q3 24 | — | $2.26 | ||
| Q2 24 | — | $2.15 | ||
| Q1 24 | — | $1.37 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $751.6M | $27.8B |
| 总资产 | $2.6B | $366.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BULLSTT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $476.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BULLSTT
| Q4 25 | — | $27.8B | ||
| Q3 25 | — | $27.6B | ||
| Q2 25 | $751.6M | $27.3B | ||
| Q1 25 | — | $26.7B | ||
| Q4 24 | — | $25.3B | ||
| Q3 24 | — | $25.8B | ||
| Q2 24 | $-2.9B | $24.8B | ||
| Q1 24 | — | $24.4B |
总资产BULLSTT
| Q4 25 | — | $366.0B | ||
| Q3 25 | — | $371.1B | ||
| Q2 25 | $2.6B | $376.7B | ||
| Q1 25 | — | $372.7B | ||
| Q4 24 | — | $353.2B | ||
| Q3 24 | — | $338.5B | ||
| Q2 24 | — | $325.6B | ||
| Q1 24 | — | $338.0B |
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 | $10.0B |
| 自由现金流经营现金流 - 资本支出 | $271.7M | $9.8B |
| 自由现金流率自由现金流/营收 | 206.6% | 266.6% |
| 资本支出强度资本支出/营收 | 0.3% | 7.3% |
| 现金转化率经营现金流/净利润 | — | 13.44× |
| 过去12个月自由现金流最近4个季度 | — | $10.8B |
8季度趋势，按日历期对齐
经营现金流BULLSTT
| Q4 25 | — | $10.0B | ||
| Q3 25 | — | $7.9B | ||
| Q2 25 | $272.1M | $-8.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $-7.4B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $-7.6B | ||
| Q1 24 | — | $-844.0M |
自由现金流BULLSTT
| Q4 25 | — | $9.8B | ||
| Q3 25 | — | $7.7B | ||
| Q2 25 | $271.7M | $-8.8B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $-7.7B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $-7.9B | ||
| Q1 24 | — | $-1.1B |
自由现金流率BULLSTT
| Q4 25 | — | 266.6% | ||
| Q3 25 | — | 216.0% | ||
| Q2 25 | 206.6% | -254.1% | ||
| Q1 25 | — | 66.1% | ||
| Q4 24 | — | -225.1% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | -246.2% | ||
| Q1 24 | — | -34.2% |
资本支出强度BULLSTT
| Q4 25 | — | 7.3% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | 0.3% | 9.3% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 6.7% | ||
| Q1 24 | — | 7.3% |
现金转化率BULLSTT
| Q4 25 | — | 13.44× | ||
| Q3 25 | — | 9.18× | ||
| Q2 25 | — | -12.18× | ||
| Q1 25 | — | 3.72× | ||
| Q4 24 | — | -9.49× | ||
| Q3 24 | — | 3.71× | ||
| Q2 24 | — | -10.75× | ||
| Q1 24 | — | -1.82× |
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
STT
| Other | $2.1B | 56% |
| Investment Management | $729.0M | 20% |
| Management Services | $662.0M | 18% |
| Foreign Exchange Trading Services | $102.0M | 3% |
| Other Fee Revenue | $56.0M | 2% |
| Securities Financing Services | $54.0M | 1% |
