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Burford Capital Ltd（BUR）与微策略（MSTR）财务数据对比。点击上方公司名可切换其他公司
微策略的季度营收约是Burford Capital Ltd的3.7倍（$123.0M vs $33.4M）
伯福德资本成立于2009年，是一家面向法律市场的专业金融服务提供商，总部位于根西岛，业务覆盖全球。该公司为企业法务部门、律师事务所的诉讼、仲裁、资产追回等相关法律活动提供资金支持，同时也提供配套的法律金融咨询服务。
Strategy Inc（原名为微策略）是1989年成立的美国上市企业，主营商业智能与移动软件业务，旗下产品可帮助企业分析内外部数据以支撑经营决策，还可用于移动应用开发，总部位于弗吉尼亚州泰森斯角，商业分析赛道核心竞品包括SAP等。
BUR vs MSTR — 直观对比
营收规模更大
MSTR
是对方的3.7倍
$33.4M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $33.4M | $123.0M |
| 净利润 | $-37.5M | — |
| 毛利率 | — | 66.1% |
| 营业利润率 | -37.9% | — |
| 净利率 | -112.2% | — |
| 营收同比 | — | 1.9% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $-0.16 | — |
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BURMSTR
| Q4 25 | $33.4M | $123.0M | ||
| Q3 25 | $69.8M | $128.7M | ||
| Q2 25 | $191.3M | $114.5M | ||
| Q1 25 | $118.9M | $111.1M | ||
| Q4 24 | — | $120.7M | ||
| Q3 24 | $159.7M | $116.1M | ||
| Q2 24 | $44.3M | $111.4M | ||
| Q1 24 | — | $115.2M |
净利润BURMSTR
| Q4 25 | $-37.5M | — | ||
| Q3 25 | $-19.2M | $2.8B | ||
| Q2 25 | $88.3M | $10.0B | ||
| Q1 25 | $30.9M | $-4.2B | ||
| Q4 24 | — | $-670.8M | ||
| Q3 24 | $53.7M | $-340.2M | ||
| Q2 24 | $-29.9M | $-102.6M | ||
| Q1 24 | — | $-53.1M |
毛利率BURMSTR
| Q4 25 | — | 66.1% | ||
| Q3 25 | — | 70.5% | ||
| Q2 25 | — | 68.8% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 71.7% | ||
| Q3 24 | — | 70.4% | ||
| Q2 24 | — | 72.2% | ||
| Q1 24 | — | 74.0% |
营业利润率BURMSTR
| Q4 25 | -37.9% | — | ||
| Q3 25 | 35.5% | — | ||
| Q2 25 | 74.3% | — | ||
| Q1 25 | 65.4% | -5331.4% | ||
| Q4 24 | — | -842.1% | ||
| Q3 24 | 76.1% | -372.7% | ||
| Q2 24 | 32.0% | -179.7% | ||
| Q1 24 | — | -176.8% |
净利率BURMSTR
| Q4 25 | -112.2% | — | ||
| Q3 25 | -27.4% | 2164.1% | ||
| Q2 25 | 46.2% | 8752.7% | ||
| Q1 25 | 26.0% | -3797.2% | ||
| Q4 24 | — | -555.8% | ||
| Q3 24 | 33.7% | -293.1% | ||
| Q2 24 | -67.6% | -92.0% | ||
| Q1 24 | — | -46.1% |
每股收益（稀释后）BURMSTR
| Q4 25 | $-0.16 | — | ||
| Q3 25 | $-0.09 | $8.42 | ||
| Q2 25 | $0.39 | $32.60 | ||
| Q1 25 | $0.14 | $-16.49 | ||
| Q4 24 | — | $4.49 | ||
| Q3 24 | $0.24 | $-1.72 | ||
| Q2 24 | $-0.14 | $-0.57 | ||
| Q1 24 | — | $-0.31 |
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 | $943.5M | $2.3B |
| 总债务越低越好 | $2.1B | $8.2B |
| 股东权益账面价值 | $2.4B | $44.1B |
| 总资产 | $6.6B | $61.6B |
| 负债/权益比越低杠杆越低 | 0.87× | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资BURMSTR
| Q4 25 | $943.5M | $2.3B | ||
| Q3 25 | $677.7M | $54.3M | ||
| Q2 25 | $372.2M | $50.1M | ||
| Q1 25 | $486.6M | $60.3M | ||
| Q4 24 | — | $38.1M | ||
| Q3 24 | — | $46.3M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $81.3M |
总债务BURMSTR
| Q4 25 | $2.1B | $8.2B | ||
| Q3 25 | $2.1B | $8.2B | ||
| Q2 25 | $1.8B | $8.2B | ||
| Q1 25 | $1.8B | $8.1B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.6B |
股东权益BURMSTR
| Q4 25 | $2.4B | $44.1B | ||
| Q3 25 | $2.5B | $52.3B | ||
| Q2 25 | $2.5B | $47.5B | ||
| Q1 25 | $2.4B | $32.2B | ||
| Q4 24 | — | $18.2B | ||
| Q3 24 | $3.2B | $3.8B | ||
| Q2 24 | $3.1B | $2.8B | ||
| Q1 24 | — | $2.4B |
总资产BURMSTR
| Q4 25 | $6.6B | $61.6B | ||
| Q3 25 | $6.7B | $73.6B | ||
| Q2 25 | $6.3B | $64.8B | ||
| Q1 25 | $6.2B | $43.9B | ||
| Q4 24 | — | $25.8B | ||
| Q3 24 | — | $8.3B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $6.4B |
负债/权益比BURMSTR
| Q4 25 | 0.87× | 0.19× | ||
| Q3 25 | 0.86× | 0.16× | ||
| Q2 25 | 0.71× | 0.17× | ||
| Q1 25 | 0.72× | 0.25× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.48× |
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 | $-29.0M | — |
| 自由现金流经营现金流 - 资本支出 | $-29.3M | — |
| 自由现金流率自由现金流/营收 | -87.7% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $21.4M | — |
8季度趋势，按日历期对齐
经营现金流BURMSTR
| Q4 25 | $-29.0M | — | ||
| Q3 25 | $-20.1M | $-8.3M | ||
| Q2 25 | $-84.2M | $-34.9M | ||
| Q1 25 | $155.2M | $-2.4M | ||
| Q4 24 | — | $-17.3M | ||
| Q3 24 | $-97.4M | $-41.0M | ||
| Q2 24 | $53.0M | $-23.3M | ||
| Q1 24 | — | $28.6M |
自由现金流BURMSTR
| Q4 25 | $-29.3M | — | ||
| Q3 25 | $-20.1M | $-11.1M | ||
| Q2 25 | $-84.3M | $-37.0M | ||
| Q1 25 | $155.1M | $-5.1M | ||
| Q4 24 | — | $-17.6M | ||
| Q3 24 | $-97.4M | $-41.4M | ||
| Q2 24 | $52.9M | $-24.1M | ||
| Q1 24 | — | $27.0M |
自由现金流率BURMSTR
| Q4 25 | -87.7% | — | ||
| Q3 25 | -28.8% | -8.6% | ||
| Q2 25 | -44.1% | -32.3% | ||
| Q1 25 | 130.5% | -4.6% | ||
| Q4 24 | — | -14.6% | ||
| Q3 24 | -61.0% | -35.7% | ||
| Q2 24 | 119.5% | -21.6% | ||
| Q1 24 | — | 23.5% |
资本支出强度BURMSTR
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.1% | 2.2% | ||
| Q2 25 | 0.1% | 1.8% | ||
| Q1 25 | 0.0% | 2.5% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.1% | 0.6% | ||
| Q1 24 | — | 1.3% |
现金转化率BURMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | -0.00× | ||
| Q2 25 | -0.95× | -0.00× | ||
| Q1 25 | 5.02× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -1.81× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
BUR
| Principal Finance Segment | $29.1M | 87% |
| Other | $3.5M | 10% |
| Management Fee Income | $878.0K | 3% |
MSTR
暂无分部数据
