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Burford Capital Ltd（BUR）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
TELOS CORP的季度营收约是Burford Capital Ltd的1.4倍（$46.8M vs $33.4M），TELOS CORP净利率更高（-34.9% vs -112.2%，领先77.4%），TELOS CORP自由现金流更多（$8.0M vs $-29.3M）
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。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
BUR vs TLS — 直观对比
营收规模更大
TLS
是对方的1.4倍
$33.4M
净利率更高
TLS
高出77.4%
-112.2%
自由现金流更多
TLS
多$37.2M
$-29.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $33.4M | $46.8M |
| 净利润 | $-37.5M | $-16.3M |
| 毛利率 | — | 35.0% |
| 营业利润率 | -37.9% | -39.6% |
| 净利率 | -112.2% | -34.9% |
| 营收同比 | — | 77.4% |
| 净利润同比 | — | -74.8% |
| 每股收益（稀释后） | $-0.16 | $-0.22 |
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BURTLS
| Q4 25 | $33.4M | $46.8M | ||
| Q3 25 | $69.8M | $51.4M | ||
| Q2 25 | $191.3M | $36.0M | ||
| Q1 25 | $118.9M | $30.6M | ||
| Q4 24 | — | $26.4M | ||
| Q3 24 | $159.7M | $23.8M | ||
| Q2 24 | $44.3M | $28.5M | ||
| Q1 24 | — | $29.6M |
净利润BURTLS
| Q4 25 | $-37.5M | $-16.3M | ||
| Q3 25 | $-19.2M | $-2.1M | ||
| Q2 25 | $88.3M | $-9.5M | ||
| Q1 25 | $30.9M | $-8.6M | ||
| Q4 24 | — | $-9.3M | ||
| Q3 24 | $53.7M | $-28.1M | ||
| Q2 24 | $-29.9M | $-7.8M | ||
| Q1 24 | — | $-7.4M |
毛利率BURTLS
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 39.9% | ||
| Q2 25 | — | 33.2% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 37.0% |
营业利润率BURTLS
| Q4 25 | -37.9% | -39.6% | ||
| Q3 25 | 35.5% | -4.8% | ||
| Q2 25 | 74.3% | -27.5% | ||
| Q1 25 | 65.4% | -29.5% | ||
| Q4 24 | — | -37.6% | ||
| Q3 24 | 76.1% | -121.4% | ||
| Q2 24 | 32.0% | -30.3% | ||
| Q1 24 | — | -28.5% |
净利率BURTLS
| Q4 25 | -112.2% | -34.9% | ||
| Q3 25 | -27.4% | -4.1% | ||
| Q2 25 | 46.2% | -26.5% | ||
| Q1 25 | 26.0% | -28.1% | ||
| Q4 24 | — | -35.4% | ||
| Q3 24 | 33.7% | -118.0% | ||
| Q2 24 | -67.6% | -27.2% | ||
| Q1 24 | — | -24.9% |
每股收益（稀释后）BURTLS
| Q4 25 | $-0.16 | $-0.22 | ||
| Q3 25 | $-0.09 | $-0.03 | ||
| Q2 25 | $0.39 | $-0.13 | ||
| Q1 25 | $0.14 | $-0.12 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | $0.24 | $-0.39 | ||
| Q2 24 | $-0.14 | $-0.11 | ||
| Q1 24 | — | $-0.10 |
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 | $53.2M |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $2.4B | $96.0M |
| 总资产 | $6.6B | $139.9M |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资BURTLS
| Q4 25 | $943.5M | $53.2M | ||
| Q3 25 | $677.7M | $59.0M | ||
| Q2 25 | $372.2M | $57.0M | ||
| Q1 25 | $486.6M | $57.8M | ||
| Q4 24 | — | $54.6M | ||
| Q3 24 | — | $69.8M | ||
| Q2 24 | — | $80.1M | ||
| Q1 24 | — | $93.9M |
总债务BURTLS
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BURTLS
| Q4 25 | $2.4B | $96.0M | ||
| Q3 25 | $2.5B | $119.7M | ||
| Q2 25 | $2.5B | $118.4M | ||
| Q1 25 | $2.4B | $126.1M | ||
| Q4 24 | — | $127.1M | ||
| Q3 24 | $3.2B | $129.5M | ||
| Q2 24 | $3.1B | $149.1M | ||
| Q1 24 | — | $154.4M |
总资产BURTLS
| Q4 25 | $6.6B | $139.9M | ||
| Q3 25 | $6.7B | $164.3M | ||
| Q2 25 | $6.3B | $165.0M | ||
| Q1 25 | $6.2B | $158.1M | ||
| Q4 24 | — | $158.2M | ||
| Q3 24 | — | $166.3M | ||
| Q2 24 | — | $182.4M | ||
| Q1 24 | — | $195.4M |
负债/权益比BURTLS
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $-29.3M | $8.0M |
| 自由现金流率自由现金流/营收 | -87.7% | 17.0% |
| 资本支出强度资本支出/营收 | 0.8% | 0.1% |
| 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 | $29.4M |
8季度趋势，按日历期对齐
经营现金流BURTLS
| Q4 25 | $-29.0M | $8.0M | ||
| Q3 25 | $-20.1M | $9.1M | ||
| Q2 25 | $-84.2M | $7.0M | ||
| Q1 25 | $155.2M | $6.1M | ||
| Q4 24 | — | $-10.5M | ||
| Q3 24 | $-97.4M | $-7.1M | ||
| Q2 24 | $53.0M | $-8.0M | ||
| Q1 24 | — | $-350.0K |
自由现金流BURTLS
| Q4 25 | $-29.3M | $8.0M | ||
| Q3 25 | $-20.1M | $8.7M | ||
| Q2 25 | $-84.3M | $6.8M | ||
| Q1 25 | $155.1M | $6.0M | ||
| Q4 24 | — | $-12.4M | ||
| Q3 24 | $-97.4M | $-7.1M | ||
| Q2 24 | $52.9M | $-8.2M | ||
| Q1 24 | — | $-447.0K |
自由现金流率BURTLS
| Q4 25 | -87.7% | 17.0% | ||
| Q3 25 | -28.8% | 16.9% | ||
| Q2 25 | -44.1% | 19.0% | ||
| Q1 25 | 130.5% | 19.5% | ||
| Q4 24 | — | -47.0% | ||
| Q3 24 | -61.0% | -30.0% | ||
| Q2 24 | 119.5% | -28.9% | ||
| Q1 24 | — | -1.5% |
资本支出强度BURTLS
| Q4 25 | 0.8% | 0.1% | ||
| Q3 25 | 0.1% | 0.9% | ||
| Q2 25 | 0.1% | 0.4% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.1% | 0.8% | ||
| Q1 24 | — | 0.3% |
现金转化率BURTLS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.95× | — | ||
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
