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凯雷集团（CG）与Alliant Energy（LNT）财务数据对比。点击上方公司名可切换其他公司
凯雷集团的季度营收约是Alliant Energy的1.8倍（$1.9B vs $1.1B），凯雷集团净利率更高（18.8% vs 13.4%，领先5.5%），凯雷集团同比增速更快（84.1% vs 9.0%），过去两年凯雷集团的营收复合增速更高（66.2% vs 1.5%）
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。
Alliant Energy是美国公用事业控股企业，主营受监管的电力与天然气服务，下设公用电力运营、公用燃气运营及其他公用事业三大业务板块。公司通过子公司Interstate Power and Light Company（IPL）为艾奥瓦州零售客户提供发电配电、天然气配送及运输服务，同时向明尼苏达州、伊利诺伊州等地的批发客户售电。
CG vs LNT — 直观对比
营收规模更大
CG
是对方的1.8倍
$1.1B
营收增速更快
CG
高出75.1%
9.0%
净利率更高
CG
高出5.5%
13.4%
两年增速更快
CG
近两年复合增速
1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.1B |
| 净利润 | $358.1M | $142.0M |
| 毛利率 | — | 85.9% |
| 营业利润率 | 24.3% | 18.4% |
| 净利率 | 18.8% | 13.4% |
| 营收同比 | 84.1% | 9.0% |
| 净利润同比 | 69.8% | -5.3% |
| 每股收益（稀释后） | $0.96 | $0.54 |
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CGLNT
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $332.7M | $1.2B | ||
| Q2 25 | $1.6B | $961.0M | ||
| Q1 25 | $973.1M | $1.1B | ||
| Q4 24 | $1.0B | $975.0M | ||
| Q3 24 | $2.6B | $1.1B | ||
| Q2 24 | $1.1B | $894.0M | ||
| Q1 24 | $688.4M | $1.0B |
净利润CGLNT
| Q4 25 | $358.1M | $142.0M | ||
| Q3 25 | $900.0K | $281.0M | ||
| Q2 25 | $319.7M | $174.0M | ||
| Q1 25 | $130.0M | $213.0M | ||
| Q4 24 | $210.9M | $150.0M | ||
| Q3 24 | $595.7M | $295.0M | ||
| Q2 24 | $148.2M | $87.0M | ||
| Q1 24 | $65.6M | $158.0M |
毛利率CGLNT
| Q4 25 | — | 85.9% | ||
| Q3 25 | — | 86.3% | ||
| Q2 25 | — | 84.3% | ||
| Q1 25 | — | 86.0% | ||
| Q4 24 | — | 84.7% | ||
| Q3 24 | — | 84.7% | ||
| Q2 24 | — | 83.6% | ||
| Q1 24 | — | 85.3% |
营业利润率CGLNT
| Q4 25 | 24.3% | 18.4% | ||
| Q3 25 | 25.8% | 28.8% | ||
| Q2 25 | 28.0% | 23.2% | ||
| Q1 25 | 17.6% | 22.8% | ||
| Q4 24 | 25.7% | 22.7% | ||
| Q3 24 | 29.9% | 29.0% | ||
| Q2 24 | 20.5% | 14.5% | ||
| Q1 24 | 17.5% | 21.5% |
净利率CGLNT
| Q4 25 | 18.8% | 13.4% | ||
| Q3 25 | 0.3% | 23.2% | ||
| Q2 25 | 20.3% | 18.1% | ||
| Q1 25 | 13.4% | 18.9% | ||
| Q4 24 | 20.4% | 15.4% | ||
| Q3 24 | 22.6% | 27.3% | ||
| Q2 24 | 13.9% | 9.7% | ||
| Q1 24 | 9.5% | 15.3% |
每股收益（稀释后）CGLNT
| Q4 25 | $0.96 | $0.54 | ||
| Q3 25 | $0.00 | $1.09 | ||
| Q2 25 | $0.87 | $0.68 | ||
| Q1 25 | $0.35 | $0.83 | ||
| Q4 24 | $0.56 | $0.58 | ||
| Q3 24 | $1.63 | $1.15 | ||
| Q2 24 | $0.40 | $0.34 | ||
| Q1 24 | $0.18 | $0.62 |
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 | $556.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.1B | $7.3B |
| 总资产 | $29.1B | $25.0B |
| 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CGLNT
| Q4 25 | $2.0B | $556.0M | ||
| Q3 25 | $2.2B | $753.0M | ||
| Q2 25 | $1.3B | $329.0M | ||
| Q1 25 | $1.2B | $25.0M | ||
| Q4 24 | $1.3B | $81.0M | ||
| Q3 24 | $1.4B | $827.0M | ||
| Q2 24 | $914.8M | $92.0M | ||
| Q1 24 | $1.3B | $32.0M |
股东权益CGLNT
| Q4 25 | $7.1B | $7.3B | ||
| Q3 25 | $6.8B | $7.3B | ||
| Q2 25 | $6.7B | $7.1B | ||
| Q1 25 | $6.4B | $7.1B | ||
| Q4 24 | $6.3B | $7.0B | ||
| Q3 24 | $6.3B | $7.0B | ||
| Q2 24 | $5.7B | $6.8B | ||
| Q1 24 | $5.7B | $6.8B |
总资产CGLNT
| Q4 25 | $29.1B | $25.0B | ||
| Q3 25 | $27.1B | $24.6B | ||
| Q2 25 | $25.1B | $23.8B | ||
| Q1 25 | $24.1B | $22.9B | ||
| Q4 24 | $23.1B | $22.7B | ||
| Q3 24 | $22.7B | $22.8B | ||
| Q2 24 | $22.3B | $21.8B | ||
| Q1 24 | $20.8B | $21.2B |
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 | $269.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | — |
| 自由现金流率自由现金流/营收 | -65.1% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | -3.34× | 1.89× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | — |
8季度趋势，按日历期对齐
经营现金流CGLNT
| Q4 25 | $-1.2B | $269.0M | ||
| Q3 25 | $-1.6B | $408.0M | ||
| Q2 25 | $-168.8M | $243.0M | ||
| Q1 25 | $-352.1M | $249.0M | ||
| Q4 24 | $-352.8M | $254.0M | ||
| Q3 24 | $791.9M | $351.0M | ||
| Q2 24 | $-1.3B | $255.0M | ||
| Q1 24 | $71.1M | $307.0M |
自由现金流CGLNT
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $-1.6B | $-103.0M | ||
| Q2 25 | $-186.3M | $-179.0M | ||
| Q1 25 | $-368.8M | $-305.0M | ||
| Q4 24 | $-379.5M | — | ||
| Q3 24 | $772.8M | $-59.0M | ||
| Q2 24 | $-1.3B | $-137.0M | ||
| Q1 24 | $56.9M | $-171.0M |
自由现金流率CGLNT
| Q4 25 | -65.1% | — | ||
| Q3 25 | -475.7% | -8.5% | ||
| Q2 25 | -11.8% | -18.6% | ||
| Q1 25 | -37.9% | -27.0% | ||
| Q4 24 | -36.8% | — | ||
| Q3 24 | 29.3% | -5.5% | ||
| Q2 24 | -120.4% | -15.3% | ||
| Q1 24 | 8.3% | -16.6% |
资本支出强度CGLNT
| Q4 25 | 2.2% | — | ||
| Q3 25 | 7.0% | 42.2% | ||
| Q2 25 | 1.1% | 43.9% | ||
| Q1 25 | 1.7% | 49.1% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 0.7% | 37.9% | ||
| Q2 24 | 1.7% | 43.8% | ||
| Q1 24 | 2.1% | 46.4% |
现金转化率CGLNT
| Q4 25 | -3.34× | 1.89× | ||
| Q3 25 | -1732.78× | 1.45× | ||
| Q2 25 | -0.53× | 1.40× | ||
| Q1 25 | -2.71× | 1.17× | ||
| Q4 24 | -1.67× | 1.69× | ||
| Q3 24 | 1.33× | 1.19× | ||
| Q2 24 | -8.57× | 2.93× | ||
| Q1 24 | 1.08× | 1.94× |
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% |
LNT
| Retail Residential | $313.0M | 29% |
| Retail Industrial | $251.0M | 24% |
| Retail Commercial | $226.0M | 21% |
| Gas | $158.0M | 15% |
| Other Customer | $43.0M | 4% |
| Wholesale | $36.0M | 3% |
| Other Utility | $15.0M | 1% |
| Steam | $9.0M | 1% |
