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凯雷集团（CG）与J.B. Hunt（JBHT）财务数据对比。点击上方公司名可切换其他公司
J.B. Hunt的季度营收约是凯雷集团的1.6倍（$3.1B vs $1.9B），凯雷集团净利率更高（18.8% vs 5.8%，领先13.0%），凯雷集团同比增速更快（84.1% vs -1.6%），J.B. Hunt自由现金流更多（$251.3M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs 2.6%）
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
J.B.亨特运输服务公司是总部位于美国阿肯色州洛厄尔的运输物流企业，1961年8月10日由约翰尼·布莱恩·亨特与乔内尔·亨特在阿肯色州创立。截至1983年，公司已成为美国第80大卡车运输企业，营收达6.2347亿美元，当时运营550台牵引车、1049辆挂车，拥有约1050名员工。
CG vs JBHT — 直观对比
营收规模更大
JBHT
是对方的1.6倍
$1.9B
营收增速更快
CG
高出85.7%
-1.6%
净利率更高
CG
高出13.0%
5.8%
自由现金流更多
JBHT
多$1.5B
$-1.2B
两年增速更快
CG
近两年复合增速
2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.1B |
| 净利润 | $358.1M | $181.1M |
| 毛利率 | — | — |
| 营业利润率 | 24.3% | 8.0% |
| 净利率 | 18.8% | 5.8% |
| 营收同比 | 84.1% | -1.6% |
| 净利润同比 | 69.8% | 16.5% |
| 每股收益（稀释后） | $0.96 | $1.88 |
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CGJBHT
| Q4 25 | $1.9B | $3.1B | ||
| Q3 25 | $332.7M | $3.1B | ||
| Q2 25 | $1.6B | $2.9B | ||
| Q1 25 | $973.1M | $2.9B | ||
| Q4 24 | $1.0B | $3.1B | ||
| Q3 24 | $2.6B | $3.1B | ||
| Q2 24 | $1.1B | $2.9B | ||
| Q1 24 | $688.4M | $2.9B |
净利润CGJBHT
| Q4 25 | $358.1M | $181.1M | ||
| Q3 25 | $900.0K | $170.8M | ||
| Q2 25 | $319.7M | $128.6M | ||
| Q1 25 | $130.0M | $117.7M | ||
| Q4 24 | $210.9M | $155.5M | ||
| Q3 24 | $595.7M | $152.1M | ||
| Q2 24 | $148.2M | $135.9M | ||
| Q1 24 | $65.6M | $127.5M |
营业利润率CGJBHT
| Q4 25 | 24.3% | 8.0% | ||
| Q3 25 | 25.8% | 7.9% | ||
| Q2 25 | 28.0% | 6.7% | ||
| Q1 25 | 17.6% | 6.1% | ||
| Q4 24 | 25.7% | 6.6% | ||
| Q3 24 | 29.9% | 7.3% | ||
| Q2 24 | 20.5% | 7.0% | ||
| Q1 24 | 17.5% | 6.6% |
净利率CGJBHT
| Q4 25 | 18.8% | 5.8% | ||
| Q3 25 | 0.3% | 5.6% | ||
| Q2 25 | 20.3% | 4.4% | ||
| Q1 25 | 13.4% | 4.0% | ||
| Q4 24 | 20.4% | 4.9% | ||
| Q3 24 | 22.6% | 5.0% | ||
| Q2 24 | 13.9% | 4.6% | ||
| Q1 24 | 9.5% | 4.3% |
每股收益（稀释后）CGJBHT
| Q4 25 | $0.96 | $1.88 | ||
| Q3 25 | $0.00 | $1.76 | ||
| Q2 25 | $0.87 | $1.31 | ||
| Q1 25 | $0.35 | $1.17 | ||
| Q4 24 | $0.56 | $1.53 | ||
| Q3 24 | $1.63 | $1.49 | ||
| Q2 24 | $0.40 | $1.32 | ||
| Q1 24 | $0.18 | $1.22 |
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 | $2.0B | $17.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.1B | $3.6B |
| 总资产 | $29.1B | $7.9B |
| 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CGJBHT
| Q4 25 | $2.0B | $17.3M | ||
| Q3 25 | $2.2B | $52.3M | ||
| Q2 25 | $1.3B | $50.9M | ||
| Q1 25 | $1.2B | $43.4M | ||
| Q4 24 | $1.3B | $47.0M | ||
| Q3 24 | $1.4B | $120.0M | ||
| Q2 24 | $914.8M | $53.5M | ||
| Q1 24 | $1.3B | $64.2M |
总债务CGJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $977.7M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
股东权益CGJBHT
| Q4 25 | $7.1B | $3.6B | ||
| Q3 25 | $6.8B | $3.6B | ||
| Q2 25 | $6.7B | $3.7B | ||
| Q1 25 | $6.4B | $3.9B | ||
| Q4 24 | $6.3B | $4.0B | ||
| Q3 24 | $6.3B | $4.0B | ||
| Q2 24 | $5.7B | $4.1B | ||
| Q1 24 | $5.7B | $4.2B |
总资产CGJBHT
| Q4 25 | $29.1B | $7.9B | ||
| Q3 25 | $27.1B | $8.1B | ||
| Q2 25 | $25.1B | $8.2B | ||
| Q1 25 | $24.1B | $8.3B | ||
| Q4 24 | $23.1B | $8.3B | ||
| Q3 24 | $22.7B | $8.3B | ||
| Q2 24 | $22.3B | $8.4B | ||
| Q1 24 | $20.8B | $8.4B |
负债/权益比CGJBHT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.33× |
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 | $385.6M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $251.3M |
| 自由现金流率自由现金流/营收 | -65.1% | 8.1% |
| 资本支出强度资本支出/营收 | 2.2% | 4.3% |
| 现金转化率经营现金流/净利润 | -3.34× | 2.13× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $947.6M |
8季度趋势，按日历期对齐
经营现金流CGJBHT
| Q4 25 | $-1.2B | $385.6M | ||
| Q3 25 | $-1.6B | $486.4M | ||
| Q2 25 | $-168.8M | $402.1M | ||
| Q1 25 | $-352.1M | $404.2M | ||
| Q4 24 | $-352.8M | $317.6M | ||
| Q3 24 | $791.9M | $338.5M | ||
| Q2 24 | $-1.3B | $360.6M | ||
| Q1 24 | $71.1M | $466.5M |
自由现金流CGJBHT
| Q4 25 | $-1.2B | $251.3M | ||
| Q3 25 | $-1.6B | $352.4M | ||
| Q2 25 | $-186.3M | $185.6M | ||
| Q1 25 | $-368.8M | $158.4M | ||
| Q4 24 | $-379.5M | $93.3M | ||
| Q3 24 | $772.8M | $163.1M | ||
| Q2 24 | $-1.3B | $98.2M | ||
| Q1 24 | $56.9M | $263.1M |
自由现金流率CGJBHT
| Q4 25 | -65.1% | 8.1% | ||
| Q3 25 | -475.7% | 11.5% | ||
| Q2 25 | -11.8% | 6.3% | ||
| Q1 25 | -37.9% | 5.4% | ||
| Q4 24 | -36.8% | 3.0% | ||
| Q3 24 | 29.3% | 5.3% | ||
| Q2 24 | -120.4% | 3.4% | ||
| Q1 24 | 8.3% | 8.9% |
资本支出强度CGJBHT
| Q4 25 | 2.2% | 4.3% | ||
| Q3 25 | 7.0% | 4.4% | ||
| Q2 25 | 1.1% | 7.4% | ||
| Q1 25 | 1.7% | 8.4% | ||
| Q4 24 | 2.6% | 7.1% | ||
| Q3 24 | 0.7% | 5.7% | ||
| Q2 24 | 1.7% | 9.0% | ||
| Q1 24 | 2.1% | 6.9% |
现金转化率CGJBHT
| Q4 25 | -3.34× | 2.13× | ||
| Q3 25 | -1732.78× | 2.85× | ||
| Q2 25 | -0.53× | 3.13× | ||
| Q1 25 | -2.71× | 3.43× | ||
| Q4 24 | -1.67× | 2.04× | ||
| Q3 24 | 1.33× | 2.23× | ||
| Q2 24 | -8.57× | 2.65× | ||
| Q1 24 | 1.08× | 3.66× |
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
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
JBHT
| JBI | $1.5B | 50% |
| DCS | $842.8M | 27% |
| ICS | $304.5M | 10% |
| FMS | $206.3M | 7% |
| JBT | $200.7M | 6% |
