vs
COHEN & STEERS, INC.（CNS）与华利安（HLI）财务数据对比。点击上方公司名可切换其他公司
华利安的季度营收约是COHEN & STEERS, INC.的5.0倍（$717.1M vs $143.8M），COHEN & STEERS, INC.净利率更高（24.3% vs 16.3%，领先8.0%），华利安同比增速更快（13.0% vs 2.9%），华利安自由现金流更多（$217.0M vs $-126.4M），过去两年华利安的营收复合增速更高（17.4% vs 8.3%）
科恩斯蒂尔是一家美国投资管理企业，专注于通过房地产投资信托（REIT）开展不动产证券投资，同时布局优先证券相关的另类收益类投资业务，在全球不动产和另类收益投资领域拥有专业的运营经验。
华利安是美国知名跨国独立投资银行及金融服务机构，1972年成立，总部位于加利福尼亚州洛杉矶世纪城的星座广场。公司为上市企业、非公众公司、机构及政府主体提供专业服务，核心业务涵盖并购咨询、资本解决方案、重组与困境并购、公允意见出具，以及财务与估值顾问等领域。
CNS vs HLI — 直观对比
营收规模更大
HLI
是对方的5.0倍
$143.8M
营收增速更快
HLI
高出10.2%
2.9%
净利率更高
CNS
高出8.0%
16.3%
自由现金流更多
HLI
多$343.5M
$-126.4M
两年增速更快
HLI
近两年复合增速
8.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $143.8M | $717.1M |
| 净利润 | $34.9M | $116.5M |
| 毛利率 | — | 32.2% |
| 营业利润率 | 28.0% | 22.4% |
| 净利率 | 24.3% | 16.3% |
| 营收同比 | 2.9% | 13.0% |
| 净利润同比 | -23.9% | 22.3% |
| 每股收益（稀释后） | $0.67 | $1.70 |
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CNSHLI
| Q4 25 | $143.8M | $717.1M | ||
| Q3 25 | $141.7M | $659.5M | ||
| Q2 25 | $136.1M | $605.3M | ||
| Q1 25 | $134.5M | $666.4M | ||
| Q4 24 | $139.8M | $634.4M | ||
| Q3 24 | $133.2M | $575.0M | ||
| Q2 24 | $121.7M | $513.6M | ||
| Q1 24 | $122.7M | $520.5M |
净利润CNSHLI
| Q4 25 | $34.9M | $116.5M | ||
| Q3 25 | $41.7M | $111.8M | ||
| Q2 25 | $36.8M | $97.5M | ||
| Q1 25 | $39.8M | $121.9M | ||
| Q4 24 | $45.8M | $95.3M | ||
| Q3 24 | $39.7M | $93.5M | ||
| Q2 24 | $31.8M | $88.9M | ||
| Q1 24 | $34.0M | $81.1M |
毛利率CNSHLI
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 33.8% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 33.9% | ||
| Q4 24 | — | 31.4% | ||
| Q3 24 | — | 33.0% | ||
| Q2 24 | — | 30.6% | ||
| Q1 24 | — | 30.3% |
营业利润率CNSHLI
| Q4 25 | 28.0% | 22.4% | ||
| Q3 25 | 34.5% | 22.9% | ||
| Q2 25 | 31.8% | 14.8% | ||
| Q1 25 | 33.6% | 20.9% | ||
| Q4 24 | 35.3% | 21.5% | ||
| Q3 24 | 33.7% | 22.7% | ||
| Q2 24 | 31.5% | 18.6% | ||
| Q1 24 | 32.8% | 19.7% |
净利率CNSHLI
| Q4 25 | 24.3% | 16.3% | ||
| Q3 25 | 29.4% | 17.0% | ||
| Q2 25 | 27.1% | 16.1% | ||
| Q1 25 | 29.6% | 18.3% | ||
| Q4 24 | 32.8% | 15.0% | ||
| Q3 24 | 29.8% | 16.3% | ||
| Q2 24 | 26.1% | 17.3% | ||
| Q1 24 | 27.7% | 15.6% |
每股收益（稀释后）CNSHLI
| Q4 25 | $0.67 | $1.70 | ||
| Q3 25 | $0.81 | $1.63 | ||
| Q2 25 | $0.72 | $1.42 | ||
| Q1 25 | $0.77 | $1.76 | ||
| Q4 24 | $0.89 | $1.39 | ||
| Q3 24 | $0.77 | $1.37 | ||
| Q2 24 | $0.63 | $1.30 | ||
| Q1 24 | $0.68 | $1.18 |
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 | $145.5M | $1.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $562.0M | $2.3B |
| 总资产 | $876.7M | $3.9B |
| 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CNSHLI
| Q4 25 | $145.5M | $1.1B | ||
| Q3 25 | $98.1M | $923.6M | ||
| Q2 25 | $95.4M | $793.8M | ||
| Q1 25 | $65.2M | $971.0M | ||
| Q4 24 | $183.0M | $799.3M | ||
| Q3 24 | $106.5M | $691.4M | ||
| Q2 24 | $122.0M | $449.7M | ||
| Q1 24 | $99.5M | $721.2M |
股东权益CNSHLI
| Q4 25 | $562.0M | $2.3B | ||
| Q3 25 | $550.3M | $2.2B | ||
| Q2 25 | $528.5M | $2.2B | ||
| Q1 25 | $507.7M | $2.2B | ||
| Q4 24 | $511.7M | $2.1B | ||
| Q3 24 | $491.0M | $2.0B | ||
| Q2 24 | $463.2M | $1.8B | ||
| Q1 24 | $378.9M | $1.8B |
总资产CNSHLI
| Q4 25 | $876.7M | $3.9B | ||
| Q3 25 | $801.6M | $3.8B | ||
| Q2 25 | $751.0M | $3.5B | ||
| Q1 25 | $834.9M | $3.8B | ||
| Q4 24 | $812.4M | $3.5B | ||
| Q3 24 | $727.8M | $3.2B | ||
| Q2 24 | $784.1M | $2.9B | ||
| Q1 24 | $680.7M | $3.2B |
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 | $-120.4M | $217.7M |
| 自由现金流经营现金流 - 资本支出 | $-126.4M | $217.0M |
| 自由现金流率自由现金流/营收 | -87.9% | 30.3% |
| 资本支出强度资本支出/营收 | 4.2% | 0.1% |
| 现金转化率经营现金流/净利润 | -3.45× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $-253.6M | $738.9M |
8季度趋势，按日历期对齐
经营现金流CNSHLI
| Q4 25 | $-120.4M | $217.7M | ||
| Q3 25 | $55.1M | $325.0M | ||
| Q2 25 | $-67.6M | $-131.6M | ||
| Q1 25 | $-108.9M | $358.4M | ||
| Q4 24 | $96.7M | $265.5M | ||
| Q3 24 | $25.6M | $289.2M | ||
| Q2 24 | $31.4M | $-64.5M | ||
| Q1 24 | $4.9M | $225.3M |
自由现金流CNSHLI
| Q4 25 | $-126.4M | $217.0M | ||
| Q3 25 | $52.6M | $322.8M | ||
| Q2 25 | $-69.8M | $-144.8M | ||
| Q1 25 | $-110.0M | $343.9M | ||
| Q4 24 | $85.0M | $261.7M | ||
| Q3 24 | $24.2M | $278.7M | ||
| Q2 24 | $27.1M | $-75.4M | ||
| Q1 24 | $537.0K | $213.1M |
自由现金流率CNSHLI
| Q4 25 | -87.9% | 30.3% | ||
| Q3 25 | 37.1% | 49.0% | ||
| Q2 25 | -51.3% | -23.9% | ||
| Q1 25 | -81.8% | 51.6% | ||
| Q4 24 | 60.8% | 41.2% | ||
| Q3 24 | 18.2% | 48.5% | ||
| Q2 24 | 22.3% | -14.7% | ||
| Q1 24 | 0.4% | 40.9% |
资本支出强度CNSHLI
| Q4 25 | 4.2% | 0.1% | ||
| Q3 25 | 1.8% | 0.3% | ||
| Q2 25 | 1.6% | 2.2% | ||
| Q1 25 | 0.8% | 2.2% | ||
| Q4 24 | 8.3% | 0.6% | ||
| Q3 24 | 1.1% | 1.8% | ||
| Q2 24 | 3.5% | 2.1% | ||
| Q1 24 | 3.5% | 2.3% |
现金转化率CNSHLI
| Q4 25 | -3.45× | 1.87× | ||
| Q3 25 | 1.32× | 2.91× | ||
| Q2 25 | -1.84× | -1.35× | ||
| Q1 25 | -2.74× | 2.94× | ||
| Q4 24 | 2.11× | 2.79× | ||
| Q3 24 | 0.65× | 3.09× | ||
| Q2 24 | 0.99× | -0.73× | ||
| Q1 24 | 0.14× | 2.78× |
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
CNS
暂无分部数据
HLI
| Corporate Finance | $473.7M | 66% |
| Financial Restructuring | $156.3M | 22% |
| Financial Advisory Services | $87.1M | 12% |
