vs
世邦魏理仕（CBRE）与通用动力（GD）财务数据对比。点击上方公司名可切换其他公司
通用动力的季度营收约是世邦魏理仕的1.3倍（$14.4B vs $11.5B），通用动力净利率更高（7.9% vs 3.6%，领先4.3%），世邦魏理仕同比增速更快（12.3% vs 7.8%），世邦魏理仕自由现金流更多（$1.1B vs $952.0M），过去两年世邦魏理仕的营收复合增速更高（21.1% vs 15.8%）
世邦魏理仕（CBRE Group）是全球领先的跨国商业地产服务与投资企业，业务涵盖物业顾问、交易撮合、资产管理、项目开发咨询等范畴，为全球各类企业及机构客户提供全链条不动产相关解决方案，服务网络覆盖全球各大主要城市。
通用动力是总部位于美国弗吉尼亚州雷斯顿的工业科技企业，是全球领先的先进军工装备研发生产商，产品覆盖核潜艇、主战坦克、装甲战车等多种品类，同时生产湾流系列公务机，也提供信息技术服务，位列美国前百名国防承包商第三位。
CBRE vs GD — 直观对比
营收规模更大
GD
是对方的1.3倍
$11.5B
营收增速更快
CBRE
高出4.5%
7.8%
净利率更高
GD
高出4.3%
3.6%
自由现金流更多
CBRE
多$125.0M
$952.0M
两年增速更快
CBRE
近两年复合增速
15.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $14.4B |
| 净利润 | $416.0M | $1.1B |
| 毛利率 | 17.3% | — |
| 营业利润率 | 5.4% | 10.1% |
| 净利率 | 3.6% | 7.9% |
| 营收同比 | 12.3% | 7.8% |
| 净利润同比 | -14.6% | -0.4% |
| 每股收益（稀释后） | $1.38 | — |
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CBREGD
| Q4 25 | $11.5B | $14.4B | ||
| Q3 25 | $10.1B | $12.9B | ||
| Q2 25 | $9.6B | $13.0B | ||
| Q1 25 | $8.8B | $12.2B | ||
| Q4 24 | $10.2B | $13.3B | ||
| Q3 24 | $8.8B | $11.7B | ||
| Q2 24 | $8.2B | $12.0B | ||
| Q1 24 | $7.8B | $10.7B |
净利润CBREGD
| Q4 25 | $416.0M | $1.1B | ||
| Q3 25 | $363.0M | $1.1B | ||
| Q2 25 | $215.0M | $1.0B | ||
| Q1 25 | $163.0M | $994.0M | ||
| Q4 24 | $487.0M | $1.1B | ||
| Q3 24 | $225.0M | $930.0M | ||
| Q2 24 | $130.0M | $905.0M | ||
| Q1 24 | $126.0M | $799.0M |
毛利率CBREGD
| Q4 25 | 17.3% | — | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 17.1% | — | ||
| Q4 24 | 18.7% | — | ||
| Q3 24 | 18.1% | — | ||
| Q2 24 | 17.6% | — | ||
| Q1 24 | 17.1% | — |
营业利润率CBREGD
| Q4 25 | 5.4% | 10.1% | ||
| Q3 25 | 4.8% | 10.3% | ||
| Q2 25 | 3.9% | 10.0% | ||
| Q1 25 | 3.1% | 10.4% | ||
| Q4 24 | 5.8% | 10.7% | ||
| Q3 24 | 4.2% | 10.1% | ||
| Q2 24 | 3.0% | 9.7% | ||
| Q1 24 | 2.6% | 9.7% |
净利率CBREGD
| Q4 25 | 3.6% | 7.9% | ||
| Q3 25 | 3.6% | 8.2% | ||
| Q2 25 | 2.2% | 7.8% | ||
| Q1 25 | 1.9% | 8.1% | ||
| Q4 24 | 4.8% | 8.6% | ||
| Q3 24 | 2.5% | 8.0% | ||
| Q2 24 | 1.6% | 7.6% | ||
| Q1 24 | 1.6% | 7.4% |
每股收益（稀释后）CBREGD
| Q4 25 | $1.38 | — | ||
| Q3 25 | $1.21 | — | ||
| Q2 25 | $0.72 | — | ||
| Q1 25 | $0.54 | — | ||
| Q4 24 | $1.58 | — | ||
| Q3 24 | $0.73 | — | ||
| Q2 24 | $0.42 | — | ||
| Q1 24 | $0.41 | — |
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 | $1.9B | $2.3B |
| 总债务越低越好 | — | $8.1B |
| 股东权益账面价值 | $8.9B | $25.6B |
| 总资产 | $30.9B | $57.2B |
| 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CBREGD
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $1.7B | $2.5B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.0B | $2.1B | ||
| Q2 24 | $928.0M | $1.4B | ||
| Q1 24 | $1.0B | $1.0B |
总债务CBREGD
| Q4 25 | — | $8.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CBREGD
| Q4 25 | $8.9B | $25.6B | ||
| Q3 25 | $8.5B | $24.4B | ||
| Q2 25 | $8.3B | $23.6B | ||
| Q1 25 | $8.3B | $22.2B | ||
| Q4 24 | $8.4B | $22.1B | ||
| Q3 24 | $8.7B | $23.0B | ||
| Q2 24 | $8.4B | $22.0B | ||
| Q1 24 | $8.3B | $21.4B |
总资产CBREGD
| Q4 25 | $30.9B | $57.2B | ||
| Q3 25 | $28.6B | $57.6B | ||
| Q2 25 | $27.7B | $56.9B | ||
| Q1 25 | $26.4B | $56.6B | ||
| Q4 24 | $24.4B | $55.9B | ||
| Q3 24 | $24.8B | $57.3B | ||
| Q2 24 | $23.5B | $55.4B | ||
| Q1 24 | $23.0B | $55.2B |
负债/权益比CBREGD
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.2B | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $1.1B | $952.0M |
| 自由现金流率自由现金流/营收 | 9.4% | 6.6% |
| 资本支出强度资本支出/营收 | 1.3% | 4.2% |
| 现金转化率经营现金流/净利润 | 2.94× | 1.37× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $4.0B |
8季度趋势，按日历期对齐
经营现金流CBREGD
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $827.0M | $2.1B | ||
| Q2 25 | $57.0M | $1.6B | ||
| Q1 25 | $-546.0M | $-148.0M | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $573.0M | $1.4B | ||
| Q2 24 | $287.0M | $814.0M | ||
| Q1 24 | $-492.0M | $-278.0M |
自由现金流CBREGD
| Q4 25 | $1.1B | $952.0M | ||
| Q3 25 | $743.0M | $1.9B | ||
| Q2 25 | $-17.0M | $1.4B | ||
| Q1 25 | $-610.0M | $-290.0M | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $494.0M | $1.2B | ||
| Q2 24 | $220.0M | $613.0M | ||
| Q1 24 | $-560.0M | $-437.0M |
自由现金流率CBREGD
| Q4 25 | 9.4% | 6.6% | ||
| Q3 25 | 7.4% | 14.7% | ||
| Q2 25 | -0.2% | 10.7% | ||
| Q1 25 | -7.0% | -2.4% | ||
| Q4 24 | 12.2% | 13.5% | ||
| Q3 24 | 5.6% | 10.4% | ||
| Q2 24 | 2.7% | 5.1% | ||
| Q1 24 | -7.2% | -4.1% |
资本支出强度CBREGD
| Q4 25 | 1.3% | 4.2% | ||
| Q3 25 | 0.8% | 1.6% | ||
| Q2 25 | 0.8% | 1.5% | ||
| Q1 25 | 0.7% | 1.2% | ||
| Q4 24 | 0.9% | 2.7% | ||
| Q3 24 | 0.9% | 1.7% | ||
| Q2 24 | 0.8% | 1.7% | ||
| Q1 24 | 0.9% | 1.5% |
现金转化率CBREGD
| Q4 25 | 2.94× | 1.37× | ||
| Q3 25 | 2.28× | 1.99× | ||
| Q2 25 | 0.27× | 1.58× | ||
| Q1 25 | -3.35× | -0.15× | ||
| Q4 24 | 2.75× | 1.88× | ||
| Q3 24 | 2.55× | 1.52× | ||
| Q2 24 | 2.21× | 0.90× | ||
| Q1 24 | -3.90× | -0.35× |
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
CBRE
| Other | $5.8B | 51% |
| Project Management Segment | $2.2B | 19% |
| Advisory Leasing | $1.5B | 13% |
| Advisory Sales | $756.0M | 7% |
| Property Management | $695.0M | 6% |
| Investment Management Property Management Brokerage And Other Professional Services | $156.0M | 1% |
| Commercial Mortgage Origination | $95.0M | 1% |
| Other Portfolio Services | $87.0M | 1% |
| Loan Servicing | $73.0M | 1% |
| Real Estate Development Services | $60.0M | 1% |
GD
| Aerospace | $3.8B | 26% |
| Cost Reimbursement | $2.5B | 17% |
| Information Technology Services | $2.1B | 15% |
| Militaryvehicles | $1.2B | 9% |
| C5ISR Solutions | $1.1B | 8% |
| Aircraft Services | $965.0M | 7% |
| Weapons Systemsand Munitions | $935.0M | 7% |
| Surfaceships | $920.0M | 6% |
| Engineeringand Other Services | $360.0M | 3% |
| Repairand Other Services | $344.0M | 2% |
| Contracts Accounted For Under Percentage Of Completion | $88.0M | 1% |
