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黑石集团（BX）与美满电子科技（MRVL）财务数据对比。点击上方公司名可切换其他公司
黑石集团的季度营收约是美满电子科技的1.6倍（$3.3B vs $2.1B），美满电子科技净利率更高（91.7% vs 36.7%，领先54.9%），美满电子科技同比增速更快（36.8% vs -77.7%），过去两年美满电子科技的营收复合增速更高（20.6% vs 8.5%）
黑石集团是总部位于美国纽约的另类资产管理机构，1985年由曾共同任职于雷曼兄弟的彼得·彼得森和斯蒂芬·施瓦茨曼创立，最初主营并购咨询业务。过去三十年间，其私募股权业务是全球最大的杠杆收购投资方之一，地产业务也在全球积极布局商业不动产投资。
美满电子科技是总部位于美国加利福尼亚州圣克拉拉的半导体企业，成立于1995年，专注于半导体及相关技术的研发与生产。截至2024年，公司全球员工超6500人，持有全球专利超1万项，2024财年总营收达55亿美元。
BX vs MRVL — 直观对比
营收规模更大
BX
是对方的1.6倍
$2.1B
营收增速更快
MRVL
高出114.6%
-77.7%
净利率更高
MRVL
高出54.9%
36.7%
两年增速更快
MRVL
近两年复合增速
8.5%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.1B |
| 净利润 | $1.2B | $1.9B |
| 毛利率 | — | 51.6% |
| 营业利润率 | — | 17.2% |
| 净利率 | 36.7% | 91.7% |
| 营收同比 | -77.7% | 36.8% |
| 净利润同比 | -76.1% | 381.1% |
| 每股收益（稀释后） | $0.80 | $2.20 |
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BXMRVL
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.4B | $2.1B | ||
| Q3 25 | $3.1B | $2.0B | ||
| Q2 25 | $3.7B | $1.9B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $3.7B | $1.3B | ||
| Q2 24 | $2.8B | $1.2B |
净利润BXMRVL
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $1.9B | ||
| Q3 25 | $624.9M | $194.8M | ||
| Q2 25 | $764.2M | $177.9M | ||
| Q1 25 | $614.9M | $200.2M | ||
| Q4 24 | $703.9M | $-676.3M | ||
| Q3 24 | $780.8M | $-193.3M | ||
| Q2 24 | $444.4M | $-215.6M |
毛利率BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | — | 51.6% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 50.5% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 46.2% | ||
| Q2 24 | — | 45.5% |
营业利润率BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | 54.1% | 17.2% | ||
| Q3 25 | 46.8% | 14.5% | ||
| Q2 25 | 51.6% | 14.3% | ||
| Q1 25 | 44.2% | 12.9% | ||
| Q4 24 | 50.6% | -46.4% | ||
| Q3 24 | 49.4% | -7.9% | ||
| Q2 24 | 43.2% | -13.1% |
净利率BXMRVL
| Q1 26 | 36.7% | — | ||
| Q4 25 | 23.3% | 91.7% | ||
| Q3 25 | 20.2% | 9.7% | ||
| Q2 25 | 20.6% | 9.4% | ||
| Q1 25 | 18.7% | 11.0% | ||
| Q4 24 | 22.8% | -44.6% | ||
| Q3 24 | 21.3% | -15.2% | ||
| Q2 24 | 15.9% | -18.6% |
每股收益（稀释后）BXMRVL
| Q1 26 | $0.80 | — | ||
| Q4 25 | $1.29 | $2.20 | ||
| Q3 25 | $0.80 | $0.22 | ||
| Q2 25 | $0.98 | $0.20 | ||
| Q1 25 | $0.80 | $0.23 | ||
| Q4 24 | $0.91 | $-0.78 | ||
| Q3 24 | $1.02 | $-0.22 | ||
| Q2 24 | $0.58 | $-0.25 |
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 | $2.4B | $2.7B |
| 总债务越低越好 | — | $4.5B |
| 股东权益账面价值 | $18.5B | $14.1B |
| 总资产 | $45.3B | $21.6B |
| 负债/权益比越低杠杆越低 | — | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资BXMRVL
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.6B | $2.7B | ||
| Q3 25 | $2.4B | $1.2B | ||
| Q2 25 | $2.2B | $885.9M | ||
| Q1 25 | $2.4B | $948.3M | ||
| Q4 24 | $2.0B | $868.1M | ||
| Q3 24 | $2.4B | $808.7M | ||
| Q2 24 | $2.4B | $847.7M |
总债务BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | $12.6B | $4.5B | ||
| Q3 25 | $12.1B | $4.5B | ||
| Q2 25 | $12.1B | $4.2B | ||
| Q1 25 | $12.6B | $4.1B | ||
| Q4 24 | $11.5B | $4.1B | ||
| Q3 24 | $10.9B | $4.1B | ||
| Q2 24 | $10.8B | $4.1B |
股东权益BXMRVL
| Q1 26 | $18.5B | — | ||
| Q4 25 | $8.7B | $14.1B | ||
| Q3 25 | $8.4B | $13.4B | ||
| Q2 25 | $8.4B | $13.3B | ||
| Q1 25 | $8.0B | $13.4B | ||
| Q4 24 | $8.2B | $13.4B | ||
| Q3 24 | $7.0B | $14.2B | ||
| Q2 24 | $6.8B | $14.5B |
总资产BXMRVL
| Q1 26 | $45.3B | — | ||
| Q4 25 | $47.7B | $21.6B | ||
| Q3 25 | $46.6B | $20.6B | ||
| Q2 25 | $45.4B | $20.0B | ||
| Q1 25 | $45.3B | $20.2B | ||
| Q4 24 | $43.5B | $19.7B | ||
| Q3 24 | $42.6B | $20.3B | ||
| Q2 24 | $40.6B | $20.5B |
负债/权益比BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | 0.32× | ||
| Q3 25 | 1.44× | 0.33× | ||
| Q2 25 | 1.45× | 0.32× | ||
| Q1 25 | 1.58× | 0.30× | ||
| Q4 24 | 1.40× | 0.31× | ||
| Q3 24 | 1.55× | 0.29× | ||
| Q2 24 | 1.58× | 0.29× |
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 | — | $582.3M |
| 自由现金流经营现金流 - 资本支出 | — | $508.8M |
| 自由现金流率自由现金流/营收 | — | 24.5% |
| 资本支出强度资本支出/营收 | — | 3.5% |
| 现金转化率经营现金流/净利润 | — | 0.31× |
| 过去12个月自由现金流最近4个季度 | — | $1.6B |
8季度趋势，按日历期对齐
经营现金流BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $582.3M | ||
| Q3 25 | $1.6B | $461.6M | ||
| Q2 25 | $888.5M | $332.9M | ||
| Q1 25 | $1.1B | $514.0M | ||
| Q4 24 | $161.4M | $536.3M | ||
| Q3 24 | $1.2B | $306.4M | ||
| Q2 24 | $1.2B | $324.5M |
自由现金流BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $508.8M | ||
| Q3 25 | $1.6B | $414.1M | ||
| Q2 25 | $848.4M | $214.1M | ||
| Q1 25 | $1.1B | $444.1M | ||
| Q4 24 | $149.5M | $461.3M | ||
| Q3 24 | $1.2B | $258.2M | ||
| Q2 24 | $1.1B | $233.0M |
自由现金流率BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | 24.0% | 24.5% | ||
| Q3 25 | 51.0% | 20.6% | ||
| Q2 25 | 22.9% | 11.3% | ||
| Q1 25 | 32.8% | 24.4% | ||
| Q4 24 | 4.9% | 30.4% | ||
| Q3 24 | 32.8% | 20.3% | ||
| Q2 24 | 41.0% | 20.1% |
资本支出强度BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 3.5% | ||
| Q3 25 | 0.8% | 2.4% | ||
| Q2 25 | 1.1% | 6.3% | ||
| Q1 25 | 0.9% | 3.8% | ||
| Q4 24 | 0.4% | 4.9% | ||
| Q3 24 | 0.5% | 3.8% | ||
| Q2 24 | 0.4% | 7.9% |
现金转化率BXMRVL
| Q1 26 | — | — | ||
| Q4 25 | 1.05× | 0.31× | ||
| Q3 25 | 2.56× | 2.37× | ||
| Q2 25 | 1.16× | 1.87× | ||
| Q1 25 | 1.80× | 2.57× | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 2.61× | — |
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
BX
| Management and Advisory Fees, Net | $1.9B | 58% |
| Realized | $562.0M | 17% |
| Other | $368.1M | 11% |
| Unrealized | $263.2M | 8% |
| Incentive Fees | $191.8M | 6% |
MRVL
暂无分部数据
