vs
鲍德温（BWIN）与Equitable Holdings, Inc.（EQH）财务数据对比。点击上方公司名可切换其他公司
Equitable Holdings, Inc.的季度营收约是鲍德温的9.5倍（$3.3B vs $344.6M）。Equitable Holdings, Inc.净利率更高（6.6% vs -7.5%，领先14.1%）。鲍德温同比增速更快（5.5% vs -9.5%）。过去两年Equitable Holdings, Inc.的营收复合增速更高（21.2% vs -4.5%）
鲍德温钢琴是美国知名钢琴品牌，曾是美国最大的键盘乐器制造商，主打 slogan 为「美国人最喜爱的钢琴」。2001年起成为吉普森品牌旗下子公司，2008年12月停止美国本土生产，将钢琴制造生产线迁至中国。
Equitable Holdings, Inc.是美国领先的金融服务与保险企业，1859年由亨利·鲍德温·海德创立，业务覆盖保险、财富管理等多元金融领域，拥有逾百年发展历史，在全球金融服务市场具备深厚的行业积淀与广泛的客户基础。
BWIN vs EQH — 直观对比
营收规模更大
EQH
是对方的9.5倍
$344.6M
营收增速更快
BWIN
高出15.0%
-9.5%
净利率更高
EQH
高出14.1%
-7.5%
两年增速更快
EQH
近两年复合增速
-4.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $344.6M | $3.3B |
| 净利润 | $-25.9M | $215.0M |
| 毛利率 | — | — |
| 营业利润率 | -3.8% | 10.5% |
| 净利率 | -7.5% | 6.6% |
| 营收同比 | 5.5% | -9.5% |
| 净利润同比 | -28.3% | -76.1% |
| 每股收益（稀释后） | $-0.38 | $0.69 |
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BWINEQH
| Q4 25 | $344.6M | $3.3B | ||
| Q3 25 | $362.3M | $1.4B | ||
| Q2 25 | $376.2M | $2.4B | ||
| Q1 25 | $410.5M | $4.6B | ||
| Q4 24 | $326.7M | $3.6B | ||
| Q3 24 | $335.2M | $3.1B | ||
| Q2 24 | $337.1M | $3.5B | ||
| Q1 24 | $378.1M | $2.2B |
净利润BWINEQH
| Q4 25 | $-25.9M | $215.0M | ||
| Q3 25 | $-18.7M | $-1.3B | ||
| Q2 25 | $-3.2M | $-349.0M | ||
| Q1 25 | $13.9M | $63.0M | ||
| Q4 24 | $-20.2M | $899.0M | ||
| Q3 24 | $-8.4M | $-134.0M | ||
| Q2 24 | $-17.6M | $428.0M | ||
| Q1 24 | $21.6M | $114.0M |
营业利润率BWINEQH
| Q4 25 | -3.8% | 10.5% | ||
| Q3 25 | 0.9% | -93.0% | ||
| Q2 25 | 7.4% | -15.4% | ||
| Q1 25 | 13.6% | 3.8% | ||
| Q4 24 | -1.7% | 33.1% | ||
| Q3 24 | 4.6% | -0.5% | ||
| Q2 24 | 4.9% | 19.4% | ||
| Q1 24 | 9.1% | 11.1% |
净利率BWINEQH
| Q4 25 | -7.5% | 6.6% | ||
| Q3 25 | -5.2% | -90.3% | ||
| Q2 25 | -0.8% | -14.8% | ||
| Q1 25 | 3.4% | 1.4% | ||
| Q4 24 | -6.2% | 24.8% | ||
| Q3 24 | -2.5% | -4.4% | ||
| Q2 24 | -5.2% | 12.2% | ||
| Q1 24 | 5.7% | 5.1% |
每股收益（稀释后）BWINEQH
| Q4 25 | $-0.38 | $0.69 | ||
| Q3 25 | $-0.27 | $-4.47 | ||
| Q2 25 | $-0.05 | $-1.21 | ||
| Q1 25 | $0.20 | $0.16 | ||
| Q4 24 | $-0.31 | $2.72 | ||
| Q3 24 | $-0.13 | $-0.47 | ||
| Q2 24 | $-0.28 | $1.23 | ||
| Q1 24 | $0.33 | $0.30 |
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 | $123.7M | $12.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $600.2M | $-74.0M |
| 总资产 | $3.9B | $318.0B |
| 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BWINEQH
| Q4 25 | $123.7M | $12.5B | ||
| Q3 25 | $89.7M | $13.6B | ||
| Q2 25 | $105.7M | $15.0B | ||
| Q1 25 | $81.8M | $8.2B | ||
| Q4 24 | $90.0M | $7.0B | ||
| Q3 24 | $181.8M | $9.6B | ||
| Q2 24 | $208.3M | $9.7B | ||
| Q1 24 | $112.1M | $10.4B |
股东权益BWINEQH
| Q4 25 | $600.2M | $-74.0M | ||
| Q3 25 | $619.7M | $148.0M | ||
| Q2 25 | $630.8M | $1.1B | ||
| Q1 25 | $619.6M | $2.4B | ||
| Q4 24 | $583.2M | $1.6B | ||
| Q3 24 | $595.4M | $3.2B | ||
| Q2 24 | $590.9M | $1.6B | ||
| Q1 24 | $597.9M | $2.0B |
总资产BWINEQH
| Q4 25 | $3.9B | $318.0B | ||
| Q3 25 | $3.8B | $314.4B | ||
| Q2 25 | $3.7B | $303.1B | ||
| Q1 25 | $3.5B | $287.4B | ||
| Q4 24 | $3.5B | $295.9B | ||
| Q3 24 | $3.5B | $299.0B | ||
| Q2 24 | $3.7B | $287.8B | ||
| Q1 24 | $3.5B | $285.6B |
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 | $10.3M | $-154.0M |
| 自由现金流经营现金流 - 资本支出 | $-84.0K | — |
| 自由现金流率自由现金流/营收 | -0.0% | — |
| 资本支出强度资本支出/营收 | 3.0% | — |
| 现金转化率经营现金流/净利润 | — | -0.72× |
| 过去12个月自由现金流最近4个季度 | $-68.9M | — |
8季度趋势，按日历期对齐
经营现金流BWINEQH
| Q4 25 | $10.3M | $-154.0M | ||
| Q3 25 | $41.0M | $369.0M | ||
| Q2 25 | $-16.7M | $341.0M | ||
| Q1 25 | $-64.0M | $158.0M | ||
| Q4 24 | $-2.3M | $400.0M | ||
| Q3 24 | $32.4M | $683.0M | ||
| Q2 24 | $18.3M | $892.0M | ||
| Q1 24 | $3.0M | $31.0M |
自由现金流BWINEQH
| Q4 25 | $-84.0K | — | ||
| Q3 25 | $32.2M | — | ||
| Q2 25 | $-28.1M | — | ||
| Q1 25 | $-72.9M | — | ||
| Q4 24 | $-14.5M | — | ||
| Q3 24 | $22.2M | — | ||
| Q2 24 | $7.8M | — | ||
| Q1 24 | $-5.1M | — |
自由现金流率BWINEQH
| Q4 25 | -0.0% | — | ||
| Q3 25 | 8.9% | — | ||
| Q2 25 | -7.5% | — | ||
| Q1 25 | -17.8% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | -1.4% | — |
资本支出强度BWINEQH
| Q4 25 | 3.0% | — | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 3.1% | — | ||
| Q1 24 | 2.2% | — |
现金转化率BWINEQH
| Q4 25 | — | -0.72× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -4.59× | 2.51× | ||
| Q4 24 | — | 0.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.08× | ||
| Q1 24 | 0.14× | 0.27× |
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
BWIN
| Insurance Advisory Solutions | $157.9M | 46% |
| Underwriting Capacity Technology Solutions | $129.5M | 38% |
| Consultingand Service Fee Revenue | $20.9M | 6% |
| Policy Feeand Installment Fee Revenue | $20.4M | 6% |
| Earned Premium | $6.9M | 2% |
| Other Insurance Product Line | $4.4M | 1% |
EQH
| Other | $1.5B | 46% |
| Asset Management | $1.2B | 37% |
| Wealth Management | $545.0M | 17% |
