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黑石集团（BX）与O’Reilly Automotive（ORLY）财务数据对比。点击上方公司名可切换其他公司
O’Reilly Automotive的季度营收约是黑石集团的1.3倍（$4.4B vs $3.3B），黑石集团净利率更高（36.7% vs 13.7%，领先23.0%），O’Reilly Automotive同比增速更快（7.8% vs -77.7%），过去两年黑石集团的营收复合增速更高（8.5% vs 5.4%）
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。
O'Reilly Automotive是美国汽车配件零售企业，旗下主打O'Reilly Auto Parts品牌，1957年由奥莱利家族创立。公司面向专业汽修服务商及DIY车主供应汽车零部件、工具、耗材、设备及周边配件，目前在全美48州、波多黎各、墨西哥、加拿大共运营超过6400家门店。
BX vs ORLY — 直观对比
营收规模更大
ORLY
是对方的1.3倍
$3.3B
营收增速更快
ORLY
高出85.5%
-77.7%
净利率更高
BX
高出23.0%
13.7%
两年增速更快
BX
近两年复合增速
5.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $4.4B |
| 净利润 | $1.2B | $605.2M |
| 毛利率 | — | 51.8% |
| 营业利润率 | — | 18.8% |
| 净利率 | 36.7% | 13.7% |
| 营收同比 | -77.7% | 7.8% |
| 净利润同比 | -76.1% | 9.8% |
| 每股收益（稀释后） | $0.80 | $-8.01 |
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BXORLY
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.4B | $4.4B | ||
| Q3 25 | $3.1B | $4.7B | ||
| Q2 25 | $3.7B | $4.5B | ||
| Q1 25 | $3.3B | $4.1B | ||
| Q4 24 | $3.1B | $4.1B | ||
| Q3 24 | $3.7B | $4.4B | ||
| Q2 24 | $2.8B | $4.3B |
净利润BXORLY
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $605.2M | ||
| Q3 25 | $624.9M | $725.9M | ||
| Q2 25 | $764.2M | $668.6M | ||
| Q1 25 | $614.9M | $538.5M | ||
| Q4 24 | $703.9M | $551.1M | ||
| Q3 24 | $780.8M | $665.5M | ||
| Q2 24 | $444.4M | $622.8M |
毛利率BXORLY
| Q1 26 | — | — | ||
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | 51.9% | ||
| Q2 25 | — | 51.4% | ||
| Q1 25 | — | 51.3% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 51.6% | ||
| Q2 24 | — | 50.7% |
营业利润率BXORLY
| Q1 26 | — | — | ||
| Q4 25 | 54.1% | 18.8% | ||
| Q3 25 | 46.8% | 20.7% | ||
| Q2 25 | 51.6% | 20.2% | ||
| Q1 25 | 44.2% | 17.9% | ||
| Q4 24 | 50.6% | 18.0% | ||
| Q3 24 | 49.4% | 20.5% | ||
| Q2 24 | 43.2% | 20.2% |
净利率BXORLY
| Q1 26 | 36.7% | — | ||
| Q4 25 | 23.3% | 13.7% | ||
| Q3 25 | 20.2% | 15.4% | ||
| Q2 25 | 20.6% | 14.8% | ||
| Q1 25 | 18.7% | 13.0% | ||
| Q4 24 | 22.8% | 13.5% | ||
| Q3 24 | 21.3% | 15.2% | ||
| Q2 24 | 15.9% | 14.6% |
每股收益（稀释后）BXORLY
| Q1 26 | $0.80 | — | ||
| Q4 25 | $1.29 | $-8.01 | ||
| Q3 25 | $0.80 | $0.85 | ||
| Q2 25 | $0.98 | $0.78 | ||
| Q1 25 | $0.80 | $9.35 | ||
| Q4 24 | $0.91 | $9.50 | ||
| Q3 24 | $1.02 | $11.41 | ||
| Q2 24 | $0.58 | $10.55 |
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 | $193.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $18.5B | $-763.4M |
| 总资产 | $45.3B | $16.5B |
| 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BXORLY
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.6B | $193.8M | ||
| Q3 25 | $2.4B | $204.5M | ||
| Q2 25 | $2.2B | $198.6M | ||
| Q1 25 | $2.4B | $191.2M | ||
| Q4 24 | $2.0B | $130.2M | ||
| Q3 24 | $2.4B | $115.6M | ||
| Q2 24 | $2.4B | $145.0M |
总债务BXORLY
| Q1 26 | — | — | ||
| Q4 25 | $12.6B | — | ||
| Q3 25 | $12.1B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.6B | — | ||
| Q4 24 | $11.5B | — | ||
| Q3 24 | $10.9B | — | ||
| Q2 24 | $10.8B | — |
股东权益BXORLY
| Q1 26 | $18.5B | — | ||
| Q4 25 | $8.7B | $-763.4M | ||
| Q3 25 | $8.4B | $-894.7M | ||
| Q2 25 | $8.4B | $-1.2B | ||
| Q1 25 | $8.0B | $-1.4B | ||
| Q4 24 | $8.2B | $-1.4B | ||
| Q3 24 | $7.0B | $-1.4B | ||
| Q2 24 | $6.8B | $-1.6B |
总资产BXORLY
| Q1 26 | $45.3B | — | ||
| Q4 25 | $47.7B | $16.5B | ||
| Q3 25 | $46.6B | $16.3B | ||
| Q2 25 | $45.4B | $15.8B | ||
| Q1 25 | $45.3B | $15.3B | ||
| Q4 24 | $43.5B | $14.9B | ||
| Q3 24 | $42.6B | $14.6B | ||
| Q2 24 | $40.6B | $14.4B |
负债/权益比BXORLY
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | — | ||
| Q3 25 | 1.44× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.58× | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.58× | — |
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 | — | $633.5M |
| 自由现金流经营现金流 - 资本支出 | — | $364.5M |
| 自由现金流率自由现金流/营收 | — | 8.3% |
| 资本支出强度资本支出/营收 | — | 6.1% |
| 现金转化率经营现金流/净利润 | — | 1.05× |
| 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BXORLY
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $633.5M | ||
| Q3 25 | $1.6B | $616.5M | ||
| Q2 25 | $888.5M | $756.8M | ||
| Q1 25 | $1.1B | $755.1M | ||
| Q4 24 | $161.4M | $624.5M | ||
| Q3 24 | $1.2B | $772.0M | ||
| Q2 24 | $1.2B | $948.9M |
自由现金流BXORLY
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $364.5M | ||
| Q3 25 | $1.6B | $304.4M | ||
| Q2 25 | $848.4M | $456.1M | ||
| Q1 25 | $1.1B | $468.2M | ||
| Q4 24 | $149.5M | $334.0M | ||
| Q3 24 | $1.2B | $513.7M | ||
| Q2 24 | $1.1B | $723.5M |
自由现金流率BXORLY
| Q1 26 | — | — | ||
| Q4 25 | 24.0% | 8.3% | ||
| Q3 25 | 51.0% | 6.5% | ||
| Q2 25 | 22.9% | 10.1% | ||
| Q1 25 | 32.8% | 11.3% | ||
| Q4 24 | 4.9% | 8.2% | ||
| Q3 24 | 32.8% | 11.8% | ||
| Q2 24 | 41.0% | 16.9% |
资本支出强度BXORLY
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 6.1% | ||
| Q3 25 | 0.8% | 6.6% | ||
| Q2 25 | 1.1% | 6.6% | ||
| Q1 25 | 0.9% | 6.9% | ||
| Q4 24 | 0.4% | 7.1% | ||
| Q3 24 | 0.5% | 5.9% | ||
| Q2 24 | 0.4% | 5.3% |
现金转化率BXORLY
| Q1 26 | — | — | ||
| Q4 25 | 1.05× | 1.05× | ||
| Q3 25 | 2.56× | 0.85× | ||
| Q2 25 | 1.16× | 1.13× | ||
| Q1 25 | 1.80× | 1.40× | ||
| Q4 24 | 0.23× | 1.13× | ||
| Q3 24 | 1.56× | 1.16× | ||
| Q2 24 | 2.61× | 1.52× |
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% |
ORLY
| DIY Customer | $2.2B | 49% |
| Professional Service Provider Customer | $2.1B | 49% |
| Other Customers And Sales Adjustments | $84.4M | 2% |
