vs
凯雷集团（CG）与越洋钻探（RIG）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越洋钻探的1.8倍（$1.9B vs $1.0B），凯雷集团净利率更高（18.8% vs 2.4%，领先16.4%），凯雷集团同比增速更快（84.1% vs 9.6%），越洋钻探自由现金流更多（$321.0M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs 16.9%）
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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
CG vs RIG — 直观对比
营收规模更大
CG
是对方的1.8倍
$1.0B
营收增速更快
CG
高出74.6%
9.6%
净利率更高
CG
高出16.4%
2.4%
自由现金流更多
RIG
多$1.6B
$-1.2B
两年增速更快
CG
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.0B |
| 净利润 | $358.1M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | 24.3% | 23.0% |
| 净利率 | 18.8% | 2.4% |
| 营收同比 | 84.1% | 9.6% |
| 净利润同比 | 69.8% | 257.1% |
| 每股收益（稀释后） | $0.96 | $0.13 |
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CGRIG
| Q4 25 | $1.9B | $1.0B | ||
| Q3 25 | $332.7M | $1.0B | ||
| Q2 25 | $1.6B | $988.0M | ||
| Q1 25 | $973.1M | $906.0M | ||
| Q4 24 | $1.0B | $952.0M | ||
| Q3 24 | $2.6B | $948.0M | ||
| Q2 24 | $1.1B | $861.0M | ||
| Q1 24 | $688.4M | $763.0M |
净利润CGRIG
| Q4 25 | $358.1M | $25.0M | ||
| Q3 25 | $900.0K | $-1.9B | ||
| Q2 25 | $319.7M | $-938.0M | ||
| Q1 25 | $130.0M | $-79.0M | ||
| Q4 24 | $210.9M | $7.0M | ||
| Q3 24 | $595.7M | $-494.0M | ||
| Q2 24 | $148.2M | $-123.0M | ||
| Q1 24 | $65.6M | $98.0M |
毛利率CGRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率CGRIG
| Q4 25 | 24.3% | 23.0% | ||
| Q3 25 | 25.8% | -163.1% | ||
| Q2 25 | 28.0% | -97.6% | ||
| Q1 25 | 17.6% | 7.1% | ||
| Q4 24 | 25.7% | 13.7% | ||
| Q3 24 | 29.9% | -51.2% | ||
| Q2 24 | 20.5% | -6.9% | ||
| Q1 24 | 17.5% | -0.4% |
净利率CGRIG
| Q4 25 | 18.8% | 2.4% | ||
| Q3 25 | 0.3% | -187.1% | ||
| Q2 25 | 20.3% | -94.9% | ||
| Q1 25 | 13.4% | -8.7% | ||
| Q4 24 | 20.4% | 0.7% | ||
| Q3 24 | 22.6% | -52.1% | ||
| Q2 24 | 13.9% | -14.3% | ||
| Q1 24 | 9.5% | 12.8% |
每股收益（稀释后）CGRIG
| Q4 25 | $0.96 | $0.13 | ||
| Q3 25 | $0.00 | $-2.00 | ||
| Q2 25 | $0.87 | $-1.06 | ||
| Q1 25 | $0.35 | $-0.11 | ||
| Q4 24 | $0.56 | $-0.14 | ||
| Q3 24 | $1.63 | $-0.58 | ||
| Q2 24 | $0.40 | $-0.15 | ||
| Q1 24 | $0.18 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $7.1B | $8.1B |
| 总资产 | $29.1B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资CGRIG
| Q4 25 | $2.0B | $620.0M | ||
| Q3 25 | $2.2B | $833.0M | ||
| Q2 25 | $1.3B | $377.0M | ||
| Q1 25 | $1.2B | $263.0M | ||
| Q4 24 | $1.3B | $560.0M | ||
| Q3 24 | $1.4B | $435.0M | ||
| Q2 24 | $914.8M | $475.0M | ||
| Q1 24 | $1.3B | $446.0M |
总债务CGRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益CGRIG
| Q4 25 | $7.1B | $8.1B | ||
| Q3 25 | $6.8B | $8.1B | ||
| Q2 25 | $6.7B | $9.4B | ||
| Q1 25 | $6.4B | $10.2B | ||
| Q4 24 | $6.3B | $10.3B | ||
| Q3 24 | $6.3B | $10.2B | ||
| Q2 24 | $5.7B | $10.7B | ||
| Q1 24 | $5.7B | $10.5B |
总资产CGRIG
| Q4 25 | $29.1B | $15.6B | ||
| Q3 25 | $27.1B | $16.2B | ||
| Q2 25 | $25.1B | $17.8B | ||
| Q1 25 | $24.1B | $19.0B | ||
| Q4 24 | $23.1B | $19.4B | ||
| Q3 24 | $22.7B | $19.5B | ||
| Q2 24 | $22.3B | $20.3B | ||
| Q1 24 | $20.8B | $19.9B |
负债/权益比CGRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $321.0M |
| 自由现金流率自由现金流/营收 | -65.1% | 30.8% |
| 资本支出强度资本支出/营收 | 2.2% | 2.7% |
| 现金转化率经营现金流/净利润 | -3.34× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $626.0M |
8季度趋势，按日历期对齐
经营现金流CGRIG
| Q4 25 | $-1.2B | $349.0M | ||
| Q3 25 | $-1.6B | $246.0M | ||
| Q2 25 | $-168.8M | $128.0M | ||
| Q1 25 | $-352.1M | $26.0M | ||
| Q4 24 | $-352.8M | $206.0M | ||
| Q3 24 | $791.9M | $194.0M | ||
| Q2 24 | $-1.3B | $133.0M | ||
| Q1 24 | $71.1M | $-86.0M |
自由现金流CGRIG
| Q4 25 | $-1.2B | $321.0M | ||
| Q3 25 | $-1.6B | $235.0M | ||
| Q2 25 | $-186.3M | $104.0M | ||
| Q1 25 | $-368.8M | $-34.0M | ||
| Q4 24 | $-379.5M | $177.0M | ||
| Q3 24 | $772.8M | $136.0M | ||
| Q2 24 | $-1.3B | $49.0M | ||
| Q1 24 | $56.9M | $-169.0M |
自由现金流率CGRIG
| Q4 25 | -65.1% | 30.8% | ||
| Q3 25 | -475.7% | 22.9% | ||
| Q2 25 | -11.8% | 10.5% | ||
| Q1 25 | -37.9% | -3.8% | ||
| Q4 24 | -36.8% | 18.6% | ||
| Q3 24 | 29.3% | 14.3% | ||
| Q2 24 | -120.4% | 5.7% | ||
| Q1 24 | 8.3% | -22.1% |
资本支出强度CGRIG
| Q4 25 | 2.2% | 2.7% | ||
| Q3 25 | 7.0% | 1.1% | ||
| Q2 25 | 1.1% | 2.4% | ||
| Q1 25 | 1.7% | 6.6% | ||
| Q4 24 | 2.6% | 3.0% | ||
| Q3 24 | 0.7% | 6.1% | ||
| Q2 24 | 1.7% | 9.8% | ||
| Q1 24 | 2.1% | 10.9% |
现金转化率CGRIG
| Q4 25 | -3.34× | 13.96× | ||
| Q3 25 | -1732.78× | — | ||
| Q2 25 | -0.53× | — | ||
| Q1 25 | -2.71× | — | ||
| Q4 24 | -1.67× | 29.43× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | -8.57× | — | ||
| Q1 24 | 1.08× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
