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凯雷集团（CG）与URBAN OUTFITTERS INC（URBN）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URBAN OUTFITTERS INC的1.2倍（$1.9B vs $1.5B），凯雷集团净利率更高（18.8% vs 7.6%，领先11.2%），凯雷集团同比增速更快（84.1% vs 12.3%），URBAN OUTFITTERS INC自由现金流更多（$-22.8M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs 1.4%）
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。
URBN是总部位于美国宾夕法尼亚州费城的跨国生活方式零售企业，旗下Urban Outfitters品牌面向年轻消费群体，产品涵盖男女时装、鞋履、美妆个护、配饰、运动服饰装备、家居用品及音乐周边等，业务覆盖美国、英国、加拿大、部分西欧国家、波兰、阿联酋、科威特、卡塔尔等市场。
CG vs URBN — 直观对比
营收规模更大
CG
是对方的1.2倍
$1.5B
营收增速更快
CG
高出71.8%
12.3%
净利率更高
CG
高出11.2%
7.6%
自由现金流更多
URBN
多$1.2B
$-1.2B
两年增速更快
CG
近两年复合增速
1.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.5B |
| 净利润 | $358.1M | $116.4M |
| 毛利率 | — | 36.8% |
| 营业利润率 | 24.3% | 9.4% |
| 净利率 | 18.8% | 7.6% |
| 营收同比 | 84.1% | 12.3% |
| 净利润同比 | 69.8% | 13.1% |
| 每股收益（稀释后） | $0.96 | $1.28 |
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CGURBN
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $332.7M | $1.5B | ||
| Q2 25 | $1.6B | $1.3B | ||
| Q1 25 | $973.1M | $1.6B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $2.6B | $1.4B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $688.4M | $1.5B |
净利润CGURBN
| Q4 25 | $358.1M | $116.4M | ||
| Q3 25 | $900.0K | $143.9M | ||
| Q2 25 | $319.7M | $108.3M | ||
| Q1 25 | $130.0M | $120.3M | ||
| Q4 24 | $210.9M | $102.9M | ||
| Q3 24 | $595.7M | $117.5M | ||
| Q2 24 | $148.2M | $61.8M | ||
| Q1 24 | $65.6M | $47.8M |
毛利率CGURBN
| Q4 25 | — | 36.8% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 36.8% | ||
| Q1 25 | — | 32.3% | ||
| Q4 24 | — | 36.5% | ||
| Q3 24 | — | 36.5% | ||
| Q2 24 | — | 34.0% | ||
| Q1 24 | — | 29.2% |
营业利润率CGURBN
| Q4 25 | 24.3% | 9.4% | ||
| Q3 25 | 25.8% | 11.6% | ||
| Q2 25 | 28.0% | 9.6% | ||
| Q1 25 | 17.6% | 7.7% | ||
| Q4 24 | 25.7% | 9.4% | ||
| Q3 24 | 29.9% | 10.7% | ||
| Q2 24 | 20.5% | 6.2% | ||
| Q1 24 | 17.5% | 3.9% |
净利率CGURBN
| Q4 25 | 18.8% | 7.6% | ||
| Q3 25 | 0.3% | 9.6% | ||
| Q2 25 | 20.3% | 8.1% | ||
| Q1 25 | 13.4% | 7.4% | ||
| Q4 24 | 20.4% | 7.6% | ||
| Q3 24 | 22.6% | 8.7% | ||
| Q2 24 | 13.9% | 5.1% | ||
| Q1 24 | 9.5% | 3.2% |
每股收益（稀释后）CGURBN
| Q4 25 | $0.96 | $1.28 | ||
| Q3 25 | $0.00 | $1.58 | ||
| Q2 25 | $0.87 | $1.16 | ||
| Q1 25 | $0.35 | $1.27 | ||
| Q4 24 | $0.56 | $1.10 | ||
| Q3 24 | $1.63 | $1.24 | ||
| Q2 24 | $0.40 | $0.65 | ||
| Q1 24 | $0.18 | $0.51 |
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 | $306.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.1B | $2.7B |
| 总资产 | $29.1B | $4.9B |
| 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CGURBN
| Q4 25 | $2.0B | $306.6M | ||
| Q3 25 | $2.2B | $332.2M | ||
| Q2 25 | $1.3B | $189.4M | ||
| Q1 25 | $1.2B | $290.5M | ||
| Q4 24 | $1.3B | $182.5M | ||
| Q3 24 | $1.4B | $209.1M | ||
| Q2 24 | $914.8M | $174.0M | ||
| Q1 24 | $1.3B | $178.3M |
股东权益CGURBN
| Q4 25 | $7.1B | $2.7B | ||
| Q3 25 | $6.8B | $2.6B | ||
| Q2 25 | $6.7B | $2.4B | ||
| Q1 25 | $6.4B | $2.5B | ||
| Q4 24 | $6.3B | $2.4B | ||
| Q3 24 | $6.3B | $2.2B | ||
| Q2 24 | $5.7B | $2.2B | ||
| Q1 24 | $5.7B | $2.1B |
总资产CGURBN
| Q4 25 | $29.1B | $4.9B | ||
| Q3 25 | $27.1B | $4.7B | ||
| Q2 25 | $25.1B | $4.5B | ||
| Q1 25 | $24.1B | $4.5B | ||
| Q4 24 | $23.1B | $4.5B | ||
| Q3 24 | $22.7B | $4.3B | ||
| Q2 24 | $22.3B | $4.2B | ||
| Q1 24 | $20.8B | $4.1B |
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 | $61.1M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $-22.8M |
| 自由现金流率自由现金流/营收 | -65.1% | -1.5% |
| 资本支出强度资本支出/营收 | 2.2% | 5.5% |
| 现金转化率经营现金流/净利润 | -3.34× | 0.53× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $402.7M |
8季度趋势，按日历期对齐
经营现金流CGURBN
| Q4 25 | $-1.2B | $61.1M | ||
| Q3 25 | $-1.6B | $218.0M | ||
| Q2 25 | $-168.8M | $33.0M | ||
| Q1 25 | $-352.1M | $320.5M | ||
| Q4 24 | $-352.8M | $18.5M | ||
| Q3 24 | $791.9M | $105.3M | ||
| Q2 24 | $-1.3B | $58.6M | ||
| Q1 24 | $71.1M | $229.2M |
自由现金流CGURBN
| Q4 25 | $-1.2B | $-22.8M | ||
| Q3 25 | $-1.6B | $156.6M | ||
| Q2 25 | $-186.3M | $-13.1M | ||
| Q1 25 | $-368.8M | $281.9M | ||
| Q4 24 | $-379.5M | $-26.6M | ||
| Q3 24 | $772.8M | $47.5M | ||
| Q2 24 | $-1.3B | $17.5M | ||
| Q1 24 | $56.9M | $180.6M |
自由现金流率CGURBN
| Q4 25 | -65.1% | -1.5% | ||
| Q3 25 | -475.7% | 10.4% | ||
| Q2 25 | -11.8% | -1.0% | ||
| Q1 25 | -37.9% | 17.2% | ||
| Q4 24 | -36.8% | -2.0% | ||
| Q3 24 | 29.3% | 3.5% | ||
| Q2 24 | -120.4% | 1.5% | ||
| Q1 24 | 8.3% | 12.2% |
资本支出强度CGURBN
| Q4 25 | 2.2% | 5.5% | ||
| Q3 25 | 7.0% | 4.1% | ||
| Q2 25 | 1.1% | 3.5% | ||
| Q1 25 | 1.7% | 2.4% | ||
| Q4 24 | 2.6% | 3.3% | ||
| Q3 24 | 0.7% | 4.3% | ||
| Q2 24 | 1.7% | 3.4% | ||
| Q1 24 | 2.1% | 3.3% |
现金转化率CGURBN
| Q4 25 | -3.34× | 0.53× | ||
| Q3 25 | -1732.78× | 1.52× | ||
| Q2 25 | -0.53× | 0.30× | ||
| Q1 25 | -2.71× | 2.66× | ||
| Q4 24 | -1.67× | 0.18× | ||
| Q3 24 | 1.33× | 0.90× | ||
| Q2 24 | -8.57× | 0.95× | ||
| Q1 24 | 1.08× | 4.80× |
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% |
URBN
| Apparel | $861.4M | 56% |
| Home | $187.0M | 12% |
| Accessories | $182.6M | 12% |
| Subscription Operations | $144.6M | 9% |
| Wholesale Operations | $88.3M | 6% |
| Other | $65.3M | 4% |
