vs
戴德梁行（CWK）与Northern Trust（NTRS）财务数据对比。点击上方公司名可切换其他公司
戴德梁行的季度营收约是Northern Trust的1.3倍（$2.9B vs $2.2B），Northern Trust净利率更高（23.7% vs -0.8%，领先24.5%），Northern Trust同比增速更快（13.8% vs 10.8%），过去两年Northern Trust的营收复合增速更高（37.8% vs 15.5%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
Northern Trust是总部位于美国伊利诺伊州芝加哥的专业金融服务企业，主要服务对象包括各类企业、机构投资者以及超高净值个人客户，是美国规模最大、持续运营历史最悠久的银行机构之一。截至2025年12月末，其管理资产规模达1.8万亿美元，托管资产规模达14.9万亿美元。
CWK vs NTRS — 直观对比
营收规模更大
CWK
是对方的1.3倍
$2.2B
营收增速更快
NTRS
高出2.9%
10.8%
净利率更高
NTRS
高出24.5%
-0.8%
两年增速更快
NTRS
近两年复合增速
15.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.2B |
| 净利润 | $-22.4M | $525.5M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | — |
| 净利率 | -0.8% | 23.7% |
| 营收同比 | 10.8% | 13.8% |
| 净利润同比 | -119.8% | 13.0% |
| 每股收益（稀释后） | $-0.10 | $2.71 |
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CWKNTRS
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.9B | $1.3B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.5B | $1.2B | ||
| Q1 25 | $2.3B | $1.2B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.3B | $1.2B |
净利润CWKNTRS
| Q1 26 | — | $525.5M | ||
| Q4 25 | $-22.4M | $466.0M | ||
| Q3 25 | $51.4M | $457.6M | ||
| Q2 25 | $57.3M | $421.3M | ||
| Q1 25 | $1.9M | $392.0M | ||
| Q4 24 | $112.9M | $455.4M | ||
| Q3 24 | $33.7M | $464.9M | ||
| Q2 24 | $13.5M | $896.1M |
营业利润率CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 48.5% | ||
| Q3 25 | 4.1% | 49.0% | ||
| Q2 25 | 4.9% | 45.9% | ||
| Q1 25 | 2.0% | 43.0% | ||
| Q4 24 | 6.6% | 48.6% | ||
| Q3 24 | 3.2% | 50.2% | ||
| Q2 24 | 3.1% | — |
净利率CWKNTRS
| Q1 26 | — | 23.7% | ||
| Q4 25 | -0.8% | 35.6% | ||
| Q3 25 | 2.0% | 36.2% | ||
| Q2 25 | 2.3% | 34.2% | ||
| Q1 25 | 0.1% | 32.3% | ||
| Q4 24 | 4.3% | 37.3% | ||
| Q3 24 | 1.4% | 38.9% | ||
| Q2 24 | 0.6% | 76.8% |
每股收益（稀释后）CWKNTRS
| Q1 26 | — | $2.71 | ||
| Q4 25 | $-0.10 | $2.42 | ||
| Q3 25 | $0.22 | $2.29 | ||
| Q2 25 | $0.25 | $2.13 | ||
| Q1 25 | $0.01 | $1.90 | ||
| Q4 24 | $0.49 | $2.25 | ||
| Q3 24 | $0.14 | $2.22 | ||
| Q2 24 | $0.06 | $4.34 |
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 | $784.2M | — |
| 总债务越低越好 | $2.7B | $2.9B |
| 股东权益账面价值 | $2.0B | $13.0B |
| 总资产 | $7.7B | $174.6B |
| 负债/权益比越低杠杆越低 | 1.40× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | $784.2M | — | ||
| Q3 25 | $634.4M | — | ||
| Q2 25 | $618.2M | — | ||
| Q1 25 | $623.2M | — | ||
| Q4 24 | $793.3M | — | ||
| Q3 24 | $775.4M | — | ||
| Q2 24 | $567.3M | — |
总债务CWKNTRS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
股东权益CWKNTRS
| Q1 26 | — | $13.0B | ||
| Q4 25 | $2.0B | $13.0B | ||
| Q3 25 | $2.0B | $13.0B | ||
| Q2 25 | $1.9B | $12.9B | ||
| Q1 25 | $1.8B | $12.9B | ||
| Q4 24 | $1.8B | $12.8B | ||
| Q3 24 | $1.7B | $12.7B | ||
| Q2 24 | $1.6B | $12.7B |
总资产CWKNTRS
| Q1 26 | — | $174.6B | ||
| Q4 25 | $7.7B | $177.1B | ||
| Q3 25 | $7.7B | $170.3B | ||
| Q2 25 | $7.6B | $171.9B | ||
| Q1 25 | $7.4B | $165.1B | ||
| Q4 24 | $7.5B | $155.5B | ||
| Q3 24 | $7.5B | $155.8B | ||
| Q2 24 | $7.3B | $156.8B |
负债/权益比CWKNTRS
| Q1 26 | — | 0.22× | ||
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.70× | — | ||
| Q4 24 | 1.73× | — | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | 1.91× | — |
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 | $257.3M | — |
| 自由现金流经营现金流 - 资本支出 | $234.3M | — |
| 自由现金流率自由现金流/营收 | 8.0% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $293.0M | — |
8季度趋势，按日历期对齐
经营现金流CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | $257.3M | $388.4M | ||
| Q3 25 | $235.5M | $525.8M | ||
| Q2 25 | $9.6M | $1.9B | ||
| Q1 25 | $-162.0M | $2.7B | ||
| Q4 24 | $115.2M | $-2.6B | ||
| Q3 24 | $196.1M | $611.1M | ||
| Q2 24 | $21.8M | $3.0B |
自由现金流CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | $234.3M | $355.6M | ||
| Q3 25 | $225.0M | $509.4M | ||
| Q2 25 | $300.0K | $1.9B | ||
| Q1 25 | $-166.6M | $2.7B | ||
| Q4 24 | $105.9M | $-2.7B | ||
| Q3 24 | $186.7M | $585.4M | ||
| Q2 24 | $10.0M | $3.0B |
自由现金流率CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 27.2% | ||
| Q3 25 | 8.6% | 40.3% | ||
| Q2 25 | 0.0% | 150.8% | ||
| Q1 25 | -7.3% | 225.5% | ||
| Q4 24 | 4.0% | -218.9% | ||
| Q3 24 | 8.0% | 48.9% | ||
| Q2 24 | 0.4% | 254.7% |
资本支出强度CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 2.5% | ||
| Q3 25 | 0.4% | 1.3% | ||
| Q2 25 | 0.4% | 1.0% | ||
| Q1 25 | 0.2% | 1.0% | ||
| Q4 24 | 0.4% | 3.3% | ||
| Q3 24 | 0.4% | 2.1% | ||
| Q2 24 | 0.5% | 1.8% |
现金转化率CWKNTRS
| Q1 26 | — | — | ||
| Q4 25 | — | 0.83× | ||
| Q3 25 | 4.58× | 1.15× | ||
| Q2 25 | 0.17× | 4.44× | ||
| Q1 25 | -85.26× | 7.01× | ||
| Q4 24 | 1.02× | -5.79× | ||
| Q3 24 | 5.82× | 1.31× | ||
| Q2 24 | 1.61× | 3.34× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
NTRS
| Trust, Investment and Other Servicing Fees | $1.3B | 61% |
| Other | $871.8M | 39% |
