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世邦魏理仕（CBRE）与Star Holdings（STHO）财务数据对比。点击上方公司名可切换其他公司
世邦魏理仕的季度营收约是Star Holdings的451.8倍（$11.5B vs $25.4M）。世邦魏理仕净利率更高（3.6% vs -75.5%，领先79.1%）。世邦魏理仕同比增速更快（12.3% vs -22.6%）。过去两年世邦魏理仕的营收复合增速更高（21.1% vs -0.2%）
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。
蓝星有限公司是一家印度跨国家电企业，总部位于孟买，主营空调、商用制冷以及机电工程业务，是印度本土市场规模第二大的空调领域本土企业。
CBRE vs STHO — 直观对比
营收规模更大
CBRE
是对方的451.8倍
$25.4M
营收增速更快
CBRE
高出34.9%
-22.6%
净利率更高
CBRE
高出79.1%
-75.5%
两年增速更快
CBRE
近两年复合增速
-0.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $11.5B | $25.4M |
| 净利润 | $416.0M | $-19.1M |
| 毛利率 | 17.3% | — |
| 营业利润率 | 5.4% | -91.7% |
| 净利率 | 3.6% | -75.5% |
| 营收同比 | 12.3% | -22.6% |
| 净利润同比 | -14.6% | 81.3% |
| 每股收益（稀释后） | $1.38 | $-1.52 |
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CBRESTHO
| Q4 25 | $11.5B | $25.4M | ||
| Q3 25 | $10.1B | $28.1M | ||
| Q2 25 | $9.6B | $42.1M | ||
| Q1 25 | $8.8B | $14.6M | ||
| Q4 24 | $10.2B | $32.8M | ||
| Q3 24 | $8.8B | $24.6M | ||
| Q2 24 | $8.2B | $30.6M | ||
| Q1 24 | $7.8B | $25.4M |
净利润CBRESTHO
| Q4 25 | $416.0M | $-19.1M | ||
| Q3 25 | $363.0M | $1.8M | ||
| Q2 25 | $215.0M | $-39.3M | ||
| Q1 25 | $163.0M | $-7.6M | ||
| Q4 24 | $487.0M | $-102.6M | ||
| Q3 24 | $225.0M | $91.9M | ||
| Q2 24 | $130.0M | $-27.1M | ||
| Q1 24 | $126.0M | $-49.0M |
毛利率CBRESTHO
| 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CBRESTHO
| Q4 25 | 5.4% | -91.7% | ||
| Q3 25 | 4.8% | 1.0% | ||
| Q2 25 | 3.9% | -94.5% | ||
| Q1 25 | 3.1% | -55.0% | ||
| Q4 24 | 5.8% | -314.1% | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 3.0% | -91.5% | ||
| Q1 24 | 2.6% | -192.6% |
净利率CBRESTHO
| Q4 25 | 3.6% | -75.5% | ||
| Q3 25 | 3.6% | 6.4% | ||
| Q2 25 | 2.2% | -93.5% | ||
| Q1 25 | 1.9% | -52.0% | ||
| Q4 24 | 4.8% | -313.1% | ||
| Q3 24 | 2.5% | 374.3% | ||
| Q2 24 | 1.6% | -88.8% | ||
| Q1 24 | 1.6% | -192.6% |
每股收益（稀释后）CBRESTHO
| Q4 25 | $1.38 | $-1.52 | ||
| Q3 25 | $1.21 | $0.14 | ||
| Q2 25 | $0.72 | $-2.95 | ||
| Q1 25 | $0.54 | $-0.57 | ||
| Q4 24 | $1.58 | $-7.69 | ||
| Q3 24 | $0.73 | $6.90 | ||
| Q2 24 | $0.42 | $-2.04 | ||
| Q1 24 | $0.41 | $-3.68 |
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 | $50.1M |
| 总债务越低越好 | — | $268.7M |
| 股东权益账面价值 | $8.9B | $251.8M |
| 总资产 | $30.9B | $570.2M |
| 负债/权益比越低杠杆越低 | — | 1.07× |
8季度趋势，按日历期对齐
现金及短期投资CBRESTHO
| Q4 25 | $1.9B | $50.1M | ||
| Q3 25 | $1.7B | $40.6M | ||
| Q2 25 | $1.4B | $44.2M | ||
| Q1 25 | $1.4B | $30.3M | ||
| Q4 24 | $1.1B | $35.0M | ||
| Q3 24 | $1.0B | $45.0M | ||
| Q2 24 | $928.0M | $48.3M | ||
| Q1 24 | $1.0B | $45.7M |
总债务CBRESTHO
| Q4 25 | — | $268.7M | ||
| Q3 25 | — | $259.3M | ||
| Q2 25 | — | $245.4M | ||
| Q1 25 | — | $231.5M | ||
| Q4 24 | — | $217.3M | ||
| Q3 24 | — | $201.2M | ||
| Q2 24 | — | $197.2M | ||
| Q1 24 | — | $195.0M |
股东权益CBRESTHO
| Q4 25 | $8.9B | $251.8M | ||
| Q3 25 | $8.5B | $275.4M | ||
| Q2 25 | $8.3B | $276.1M | ||
| Q1 25 | $8.3B | $316.1M | ||
| Q4 24 | $8.4B | $324.3M | ||
| Q3 24 | $8.7B | $427.5M | ||
| Q2 24 | $8.4B | $335.3M | ||
| Q1 24 | $8.3B | $362.4M |
总资产CBRESTHO
| Q4 25 | $30.9B | $570.2M | ||
| Q3 25 | $28.6B | $595.9M | ||
| Q2 25 | $27.7B | $589.9M | ||
| Q1 25 | $26.4B | $618.2M | ||
| Q4 24 | $24.4B | $608.7M | ||
| Q3 24 | $24.8B | $696.5M | ||
| Q2 24 | $23.5B | $601.0M | ||
| Q1 24 | $23.0B | $622.9M |
负债/权益比CBRESTHO
| Q4 25 | — | 1.07× | ||
| Q3 25 | — | 0.94× | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.54× |
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 | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | $1.1B | — |
| 自由现金流率自由现金流/营收 | 9.4% | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 2.94× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流CBRESTHO
| Q4 25 | $1.2B | $-8.0M | ||
| Q3 25 | $827.0M | $5.3M | ||
| Q2 25 | $57.0M | $-2.6M | ||
| Q1 25 | $-546.0M | $-6.3M | ||
| Q4 24 | $1.3B | $-6.9M | ||
| Q3 24 | $573.0M | $-3.8M | ||
| Q2 24 | $287.0M | $-6.4M | ||
| Q1 24 | $-492.0M | $-14.2M |
自由现金流CBRESTHO
| Q4 25 | $1.1B | — | ||
| Q3 25 | $743.0M | — | ||
| Q2 25 | $-17.0M | — | ||
| Q1 25 | $-610.0M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $494.0M | — | ||
| Q2 24 | $220.0M | — | ||
| Q1 24 | $-560.0M | — |
自由现金流率CBRESTHO
| Q4 25 | 9.4% | — | ||
| Q3 25 | 7.4% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -7.0% | — | ||
| Q4 24 | 12.2% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | -7.2% | — |
资本支出强度CBRESTHO
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.9% | — |
现金转化率CBRESTHO
| Q4 25 | 2.94× | — | ||
| Q3 25 | 2.28× | 2.95× | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | -3.35× | — | ||
| Q4 24 | 2.75× | — | ||
| Q3 24 | 2.55× | -0.04× | ||
| Q2 24 | 2.21× | — | ||
| Q1 24 | -3.90× | — |
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% |
STHO
| Land Development | $13.0M | 51% |
| Other Income Revenue | $9.3M | 37% |
| Operating Lease Income | $2.0M | 8% |
| Interest Income Revenue | $1.2M | 5% |
