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黑石集团（BX）与RPM INTERNATIONAL INC（RPM）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RPM INTERNATIONAL INC的1.7倍（$3.3B vs $1.9B），黑石集团净利率更高（36.7% vs 8.4%，领先28.3%），RPM INTERNATIONAL INC同比增速更快（3.5% vs -9.1%），过去两年RPM INTERNATIONAL INC的营收复合增速更高（12.0% 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。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
BX vs RPM — 直观对比
营收规模更大
BX
是对方的1.7倍
$1.9B
营收增速更快
RPM
高出12.6%
-9.1%
净利率更高
BX
高出28.3%
8.4%
两年增速更快
RPM
近两年复合增速
8.5%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $1.9B |
| 净利润 | $1.2B | $161.2M |
| 毛利率 | — | 40.8% |
| 营业利润率 | — | 11.0% |
| 净利率 | 36.7% | 8.4% |
| 营收同比 | -9.1% | 3.5% |
| 净利润同比 | -3.9% | -12.0% |
| 每股收益（稀释后） | $0.80 | $1.26 |
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BXRPM
| Q1 26 | $3.3B | — | ||
| Q4 25 | $4.4B | $1.9B | ||
| Q3 25 | $3.1B | $2.1B | ||
| Q2 25 | $3.7B | $2.1B | ||
| Q1 25 | $3.3B | $1.5B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $3.7B | $2.0B | ||
| Q2 24 | $2.8B | $2.0B |
净利润BXRPM
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.0B | $161.2M | ||
| Q3 25 | $624.9M | $227.6M | ||
| Q2 25 | $764.2M | $225.8M | ||
| Q1 25 | $614.9M | $52.0M | ||
| Q4 24 | $703.9M | $183.2M | ||
| Q3 24 | $780.8M | $227.7M | ||
| Q2 24 | $444.4M | $180.6M |
毛利率BXRPM
| Q1 26 | — | — | ||
| Q4 25 | — | 40.8% | ||
| Q3 25 | — | 42.3% | ||
| Q2 25 | — | 42.4% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 41.4% |
营业利润率BXRPM
| Q1 26 | — | — | ||
| Q4 25 | 54.1% | 11.0% | ||
| Q3 25 | 46.8% | 14.1% | ||
| Q2 25 | 51.6% | 11.9% | ||
| Q1 25 | 44.2% | 2.8% | ||
| Q4 24 | 50.6% | 11.5% | ||
| Q3 24 | 49.4% | 14.8% | ||
| Q2 24 | 43.2% | 11.9% |
净利率BXRPM
| Q1 26 | 36.7% | — | ||
| Q4 25 | 23.3% | 8.4% | ||
| Q3 25 | 20.2% | 10.8% | ||
| Q2 25 | 20.6% | 10.8% | ||
| Q1 25 | 18.7% | 3.5% | ||
| Q4 24 | 22.8% | 9.9% | ||
| Q3 24 | 21.3% | 11.6% | ||
| Q2 24 | 15.9% | 9.0% |
每股收益（稀释后）BXRPM
| Q1 26 | $0.80 | — | ||
| Q4 25 | $1.29 | $1.26 | ||
| Q3 25 | $0.80 | $1.77 | ||
| Q2 25 | $0.98 | $1.76 | ||
| Q1 25 | $0.80 | $0.40 | ||
| Q4 24 | $0.91 | $1.42 | ||
| Q3 24 | $1.02 | $1.77 | ||
| Q2 24 | $0.58 | $1.40 |
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 | $316.6M |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $18.5B | $3.1B |
| 总资产 | $45.3B | $7.9B |
| 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BXRPM
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.6B | $316.6M | ||
| Q3 25 | $2.4B | $297.1M | ||
| Q2 25 | $2.2B | $302.1M | ||
| Q1 25 | $2.4B | $241.9M | ||
| Q4 24 | $2.0B | $268.7M | ||
| Q3 24 | $2.4B | $231.6M | ||
| Q2 24 | $2.4B | $237.4M |
总债务BXRPM
| Q1 26 | — | — | ||
| Q4 25 | $12.6B | $2.5B | ||
| Q3 25 | $12.1B | $2.7B | ||
| Q2 25 | $12.1B | $2.6B | ||
| Q1 25 | $12.6B | $2.1B | ||
| Q4 24 | $11.5B | $2.0B | ||
| Q3 24 | $10.9B | $2.0B | ||
| Q2 24 | $10.8B | $2.0B |
股东权益BXRPM
| Q1 26 | $18.5B | — | ||
| Q4 25 | $8.7B | $3.1B | ||
| Q3 25 | $8.4B | $3.1B | ||
| Q2 25 | $8.4B | $2.9B | ||
| Q1 25 | $8.0B | $2.7B | ||
| Q4 24 | $8.2B | $2.7B | ||
| Q3 24 | $7.0B | $2.6B | ||
| Q2 24 | $6.8B | $2.5B |
总资产BXRPM
| Q1 26 | $45.3B | — | ||
| Q4 25 | $47.7B | $7.9B | ||
| Q3 25 | $46.6B | $7.9B | ||
| Q2 25 | $45.4B | $7.8B | ||
| Q1 25 | $45.3B | $6.6B | ||
| Q4 24 | $43.5B | $6.7B | ||
| Q3 24 | $42.6B | $6.6B | ||
| Q2 24 | $40.6B | $6.6B |
负债/权益比BXRPM
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | 0.80× | ||
| Q3 25 | 1.44× | 0.87× | ||
| Q2 25 | 1.45× | 0.91× | ||
| Q1 25 | 1.58× | 0.78× | ||
| Q4 24 | 1.40× | 0.74× | ||
| Q3 24 | 1.55× | 0.77× | ||
| Q2 24 | 1.58× | 0.79× |
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 | — | $345.7M |
| 自由现金流经营现金流 - 资本支出 | — | $296.4M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 2.6% |
| 现金转化率经营现金流/净利润 | — | 2.14× |
| 过去12个月自由现金流最近4个季度 | — | $582.9M |
8季度趋势，按日历期对齐
经营现金流BXRPM
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $345.7M | ||
| Q3 25 | $1.6B | $237.5M | ||
| Q2 25 | $888.5M | $149.2M | ||
| Q1 25 | $1.1B | $91.5M | ||
| Q4 24 | $161.4M | $279.4M | ||
| Q3 24 | $1.2B | $248.1M | ||
| Q2 24 | $1.2B | $181.2M |
自由现金流BXRPM
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $296.4M | ||
| Q3 25 | $1.6B | $175.0M | ||
| Q2 25 | $848.4M | $78.2M | ||
| Q1 25 | $1.1B | $33.3M | ||
| Q4 24 | $149.5M | $229.5M | ||
| Q3 24 | $1.2B | $197.3M | ||
| Q2 24 | $1.1B | $105.3M |
自由现金流率BXRPM
| Q1 26 | — | — | ||
| Q4 25 | 24.0% | 15.5% | ||
| Q3 25 | 51.0% | 8.3% | ||
| Q2 25 | 22.9% | 3.8% | ||
| Q1 25 | 32.8% | 2.3% | ||
| Q4 24 | 4.9% | 12.4% | ||
| Q3 24 | 32.8% | 10.0% | ||
| Q2 24 | 41.0% | 5.2% |
资本支出强度BXRPM
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 2.6% | ||
| Q3 25 | 0.8% | 3.0% | ||
| Q2 25 | 1.1% | 3.4% | ||
| Q1 25 | 0.9% | 3.9% | ||
| Q4 24 | 0.4% | 2.7% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 0.4% | 3.8% |
现金转化率BXRPM
| Q1 26 | — | — | ||
| Q4 25 | 1.05× | 2.14× | ||
| Q3 25 | 2.56× | 1.04× | ||
| Q2 25 | 1.16× | 0.66× | ||
| Q1 25 | 1.80× | 1.76× | ||
| Q4 24 | 0.23× | 1.53× | ||
| Q3 24 | 1.56× | 1.09× | ||
| Q2 24 | 2.61× | 1.00× |
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% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
