vs
鲍德温（BWIN）与Hagerty, Inc.（HGTY）财务数据对比。点击上方公司名可切换其他公司
鲍德温的季度营收约是Hagerty, Inc.的2.3倍（$344.6M vs $150.8M）。Hagerty, Inc.净利率更高（18.9% vs -7.5%，领先26.4%）。Hagerty, Inc.同比增速更快（30.7% vs 5.5%）。Hagerty, Inc.自由现金流更多（$23.1M vs $-84.0K）。过去两年Hagerty, Inc.的营收复合增速更高（12.1% 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。
哈格蒂（Hagerty, Inc.）是美国知名汽车生活方式及会员服务企业，同时是全球规模最大的经典老爷车特种保险供应商，总部位于密歇根州特拉弗斯城，业务范围覆盖加拿大、德国及英国市场。
BWIN vs HGTY — 直观对比
营收规模更大
BWIN
是对方的2.3倍
$150.8M
营收增速更快
HGTY
高出25.2%
5.5%
净利率更高
HGTY
高出26.4%
-7.5%
自由现金流更多
HGTY
多$23.1M
$-84.0K
两年增速更快
HGTY
近两年复合增速
-4.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $344.6M | $150.8M |
| 净利润 | $-25.9M | $28.6M |
| 毛利率 | — | — |
| 营业利润率 | -3.8% | 26.3% |
| 净利率 | -7.5% | 18.9% |
| 营收同比 | 5.5% | 30.7% |
| 净利润同比 | -28.3% | 238.4% |
| 每股收益（稀释后） | $-0.38 | — |
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BWINHGTY
| Q4 25 | $344.6M | $150.8M | ||
| Q3 25 | $362.3M | $190.0M | ||
| Q2 25 | $376.2M | $188.5M | ||
| Q1 25 | $410.5M | $148.4M | ||
| Q4 24 | $326.7M | $115.4M | ||
| Q3 24 | $335.2M | $157.7M | ||
| Q2 24 | $337.1M | $155.6M | ||
| Q1 24 | $378.1M | $120.1M |
净利润BWINHGTY
| Q4 25 | $-25.9M | $28.6M | ||
| Q3 25 | $-18.7M | $46.2M | ||
| Q2 25 | $-3.2M | $47.2M | ||
| Q1 25 | $13.9M | $27.3M | ||
| Q4 24 | $-20.2M | $8.4M | ||
| Q3 24 | $-8.4M | $19.0M | ||
| Q2 24 | $-17.6M | $42.7M | ||
| Q1 24 | $21.6M | $8.2M |
营业利润率BWINHGTY
| Q4 25 | -3.8% | 26.3% | ||
| Q3 25 | 0.9% | 18.1% | ||
| Q2 25 | 7.4% | 25.3% | ||
| Q1 25 | 13.6% | 17.3% | ||
| Q4 24 | -1.7% | 5.2% | ||
| Q3 24 | 4.6% | 6.4% | ||
| Q2 24 | 4.9% | 24.5% | ||
| Q1 24 | 9.1% | 10.2% |
净利率BWINHGTY
| Q4 25 | -7.5% | 18.9% | ||
| Q3 25 | -5.2% | 24.3% | ||
| Q2 25 | -0.8% | 25.0% | ||
| Q1 25 | 3.4% | 18.4% | ||
| Q4 24 | -6.2% | 7.3% | ||
| Q3 24 | -2.5% | 12.1% | ||
| Q2 24 | -5.2% | 27.4% | ||
| Q1 24 | 5.7% | 6.8% |
每股收益（稀释后）BWINHGTY
| Q4 25 | $-0.38 | — | ||
| Q3 25 | $-0.27 | — | ||
| Q2 25 | $-0.05 | — | ||
| Q1 25 | $0.20 | — | ||
| Q4 24 | $-0.31 | — | ||
| Q3 24 | $-0.13 | — | ||
| Q2 24 | $-0.28 | — | ||
| Q1 24 | $0.33 | — |
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 | $160.2M |
| 总债务越低越好 | — | $177.9M |
| 股东权益账面价值 | $600.2M | $221.3M |
| 总资产 | $3.9B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资BWINHGTY
| Q4 25 | $123.7M | $160.2M | ||
| Q3 25 | $89.7M | $290.5M | ||
| Q2 25 | $105.7M | $259.6M | ||
| Q1 25 | $81.8M | $232.7M | ||
| Q4 24 | $90.0M | $178.7M | ||
| Q3 24 | $181.8M | $208.9M | ||
| Q2 24 | $208.3M | $186.4M | ||
| Q1 24 | $112.1M | $131.2M |
总债务BWINHGTY
| Q4 25 | — | $177.9M | ||
| Q3 25 | — | $104.4M | ||
| Q2 25 | — | $153.4M | ||
| Q1 25 | — | $132.6M | ||
| Q4 24 | — | $105.0M | ||
| Q3 24 | — | $122.9M | ||
| Q2 24 | — | $98.0M | ||
| Q1 24 | — | $91.5M |
股东权益BWINHGTY
| Q4 25 | $600.2M | $221.3M | ||
| Q3 25 | $619.7M | $211.7M | ||
| Q2 25 | $630.8M | $172.3M | ||
| Q1 25 | $619.6M | $162.9M | ||
| Q4 24 | $583.2M | $150.3M | ||
| Q3 24 | $595.4M | $148.3M | ||
| Q2 24 | $590.9M | $94.4M | ||
| Q1 24 | $597.9M | $93.5M |
总资产BWINHGTY
| Q4 25 | $3.9B | $2.1B | ||
| Q3 25 | $3.8B | $2.2B | ||
| Q2 25 | $3.7B | $2.0B | ||
| Q1 25 | $3.5B | $1.8B | ||
| Q4 24 | $3.5B | $1.7B | ||
| Q3 24 | $3.5B | $1.8B | ||
| Q2 24 | $3.7B | $1.7B | ||
| Q1 24 | $3.5B | $1.6B |
负债/权益比BWINHGTY
| Q4 25 | — | 0.80× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 0.98× |
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 | $29.1M |
| 自由现金流经营现金流 - 资本支出 | $-84.0K | $23.1M |
| 自由现金流率自由现金流/营收 | -0.0% | 15.3% |
| 资本支出强度资本支出/营收 | 3.0% | 4.0% |
| 现金转化率经营现金流/净利润 | — | 1.02× |
| 过去12个月自由现金流最近4个季度 | $-68.9M | $194.5M |
8季度趋势，按日历期对齐
经营现金流BWINHGTY
| Q4 25 | $10.3M | $29.1M | ||
| Q3 25 | $41.0M | $92.2M | ||
| Q2 25 | $-16.7M | $53.9M | ||
| Q1 25 | $-64.0M | $43.8M | ||
| Q4 24 | $-2.3M | $-12.6M | ||
| Q3 24 | $32.4M | $67.4M | ||
| Q2 24 | $18.3M | $64.0M | ||
| Q1 24 | $3.0M | $58.2M |
自由现金流BWINHGTY
| Q4 25 | $-84.0K | $23.1M | ||
| Q3 25 | $32.2M | $85.2M | ||
| Q2 25 | $-28.1M | $47.7M | ||
| Q1 25 | $-72.9M | $38.4M | ||
| Q4 24 | $-14.5M | $-16.7M | ||
| Q3 24 | $22.2M | $62.0M | ||
| Q2 24 | $7.8M | $56.6M | ||
| Q1 24 | $-5.1M | $53.7M |
自由现金流率BWINHGTY
| Q4 25 | -0.0% | 15.3% | ||
| Q3 25 | 8.9% | 44.9% | ||
| Q2 25 | -7.5% | 25.3% | ||
| Q1 25 | -17.8% | 25.9% | ||
| Q4 24 | -4.4% | -14.5% | ||
| Q3 24 | 6.6% | 39.3% | ||
| Q2 24 | 2.3% | 36.4% | ||
| Q1 24 | -1.4% | 44.7% |
资本支出强度BWINHGTY
| Q4 25 | 3.0% | 4.0% | ||
| Q3 25 | 2.4% | 3.7% | ||
| Q2 25 | 3.0% | 3.3% | ||
| Q1 25 | 2.2% | 3.6% | ||
| Q4 24 | 3.7% | 3.5% | ||
| Q3 24 | 3.0% | 3.4% | ||
| Q2 24 | 3.1% | 4.8% | ||
| Q1 24 | 2.2% | 3.8% |
现金转化率BWINHGTY
| Q4 25 | — | 1.02× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | -4.59× | 1.61× | ||
| Q4 24 | — | -1.50× | ||
| Q3 24 | — | 3.55× | ||
| Q2 24 | — | 1.50× | ||
| Q1 24 | 0.14× | 7.10× |
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% |
HGTY
暂无分部数据
