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GCM Grosvenor Inc.（GCMG）与BRC Group Holdings, Inc.（RILY）财务数据对比。点击上方公司名可切换其他公司
BRC Group Holdings, Inc.的季度营收约是GCM Grosvenor Inc.的1.1倍（$188.3M vs $177.1M），BRC Group Holdings, Inc.净利率更高（47.9% vs 32.8%，领先15.1%），GCM Grosvenor Inc.同比增速更快（7.2% vs -21.9%），过去两年GCM Grosvenor Inc.的营收复合增速更高（27.5% vs -15.4%）
GCM Grosvenor是美国头部另类资产管理机构，截至2023年资产管理规模约760亿美元，拥有约530名专业人士，为全球机构及个人投资者提供定制化另类投资解决方案，覆盖私募股权、对冲基金、房地产、基础设施等多元资产类别。
GCMG vs RILY — 直观对比
营收规模更大
RILY
是对方的1.1倍
$177.1M
营收增速更快
GCMG
高出29.0%
-21.9%
净利率更高
RILY
高出15.1%
32.8%
两年增速更快
GCMG
近两年复合增速
-15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $177.1M | $188.3M |
| 净利润 | $58.2M | $90.3M |
| 毛利率 | — | 79.5% |
| 营业利润率 | 30.9% | 32.3% |
| 净利率 | 32.8% | 47.9% |
| 营收同比 | 7.2% | -21.9% |
| 净利润同比 | 149.2% | 1710.8% |
| 每股收益（稀释后） | $0.23 | $2.78 |
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GCMGRILY
| Q4 25 | $177.1M | $188.3M | ||
| Q3 25 | $135.0M | $215.3M | ||
| Q2 25 | $119.7M | $188.2M | ||
| Q1 25 | $125.8M | $197.2M | ||
| Q4 24 | $165.3M | $241.0M | ||
| Q3 24 | $122.9M | $225.5M | ||
| Q2 24 | $117.0M | $256.0M | ||
| Q1 24 | $108.9M | $263.4M |
净利润GCMGRILY
| Q4 25 | $58.2M | $90.3M | ||
| Q3 25 | $10.5M | $91.1M | ||
| Q2 25 | $15.4M | $139.5M | ||
| Q1 25 | $463.0K | $-10.0M | ||
| Q4 24 | $7.6M | $-5.6M | ||
| Q3 24 | $4.2M | $-284.4M | ||
| Q2 24 | $4.8M | $-433.6M | ||
| Q1 24 | $2.1M | $-49.2M |
毛利率GCMGRILY
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
营业利润率GCMGRILY
| Q4 25 | 30.9% | 32.3% | ||
| Q3 25 | 32.7% | 30.4% | ||
| Q2 25 | 16.1% | 5.7% | ||
| Q1 25 | 12.2% | -31.2% | ||
| Q4 24 | 26.4% | -69.2% | ||
| Q3 24 | 20.3% | -36.4% | ||
| Q2 24 | 17.8% | -90.8% | ||
| Q1 24 | -14.7% | -6.1% |
净利率GCMGRILY
| Q4 25 | 32.8% | 47.9% | ||
| Q3 25 | 7.8% | 42.3% | ||
| Q2 25 | 12.9% | 74.1% | ||
| Q1 25 | 0.4% | -5.1% | ||
| Q4 24 | 4.6% | -2.3% | ||
| Q3 24 | 3.4% | -126.1% | ||
| Q2 24 | 4.1% | -169.4% | ||
| Q1 24 | 2.0% | -18.7% |
每股收益（稀释后）GCMGRILY
| Q4 25 | $0.23 | $2.78 | ||
| Q3 25 | $0.16 | $2.91 | ||
| Q2 25 | $0.05 | $4.50 | ||
| Q1 25 | $-0.02 | $-0.39 | ||
| Q4 24 | $0.09 | $-0.01 | ||
| Q3 24 | $0.03 | $-9.39 | ||
| Q2 24 | $0.04 | $-14.35 | ||
| Q1 24 | $-0.13 | $-1.71 |
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 | $242.1M | $226.6M |
| 总债务越低越好 | $428.4M | $1.4B |
| 股东权益账面价值 | $27.0M | $-171.5M |
| 总资产 | $813.8M | $1.7B |
| 负债/权益比越低杠杆越低 | 15.87× | — |
8季度趋势，按日历期对齐
现金及短期投资GCMGRILY
| Q4 25 | $242.1M | $226.6M | ||
| Q3 25 | $182.7M | $184.2M | ||
| Q2 25 | $136.3M | $267.4M | ||
| Q1 25 | $94.5M | $138.3M | ||
| Q4 24 | $89.5M | $146.9M | ||
| Q3 24 | $98.4M | $159.2M | ||
| Q2 24 | $73.9M | $236.9M | ||
| Q1 24 | $41.9M | $190.7M |
总债务GCMGRILY
| Q4 25 | $428.4M | $1.4B | ||
| Q3 25 | $429.3M | $1.3B | ||
| Q2 25 | $430.2M | $1.3B | ||
| Q1 25 | $431.1M | $1.4B | ||
| Q4 24 | $432.0M | $1.5B | ||
| Q3 24 | $432.9M | — | ||
| Q2 24 | $433.8M | — | ||
| Q1 24 | $384.0M | — |
股东权益GCMGRILY
| Q4 25 | $27.0M | $-171.5M | ||
| Q3 25 | $-7.4M | $-260.5M | ||
| Q2 25 | $-12.3M | $-351.7M | ||
| Q1 25 | $-28.3M | $-496.8M | ||
| Q4 24 | $-27.6M | $-488.2M | ||
| Q3 24 | $-31.9M | $-497.6M | ||
| Q2 24 | $-28.5M | $-218.3M | ||
| Q1 24 | $-26.4M | $228.4M |
总资产GCMGRILY
| Q4 25 | $813.8M | $1.7B | ||
| Q3 25 | $685.9M | $1.7B | ||
| Q2 25 | $636.9M | $1.5B | ||
| Q1 25 | $579.8M | $1.5B | ||
| Q4 24 | $612.7M | $1.8B | ||
| Q3 24 | $575.0M | $2.2B | ||
| Q2 24 | $543.9M | $3.2B | ||
| Q1 24 | $497.3M | $5.0B |
负债/权益比GCMGRILY
| Q4 25 | 15.87× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $183.5M | $26.2M |
| 自由现金流经营现金流 - 资本支出 | $175.0M | — |
| 自由现金流率自由现金流/营收 | 98.8% | — |
| 资本支出强度资本支出/营收 | 4.8% | — |
| 现金转化率经营现金流/净利润 | 3.16× | 0.29× |
| 过去12个月自由现金流最近4个季度 | $326.2M | — |
8季度趋势，按日历期对齐
经营现金流GCMGRILY
| Q4 25 | $183.5M | $26.2M | ||
| Q3 25 | $79.8M | $-60.6M | ||
| Q2 25 | $42.0M | $-25.6M | ||
| Q1 25 | $33.3M | $184.0K | ||
| Q4 24 | $148.8M | $-2.7M | ||
| Q3 24 | $69.0M | $19.5M | ||
| Q2 24 | $17.5M | $111.5M | ||
| Q1 24 | $24.2M | $135.4M |
自由现金流GCMGRILY
| Q4 25 | $175.0M | — | ||
| Q3 25 | $78.3M | — | ||
| Q2 25 | $40.8M | — | ||
| Q1 25 | $32.1M | — | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $62.2M | — | ||
| Q2 24 | $12.8M | — | ||
| Q1 24 | $20.0M | — |
自由现金流率GCMGRILY
| Q4 25 | 98.8% | — | ||
| Q3 25 | 58.0% | — | ||
| Q2 25 | 34.1% | — | ||
| Q1 25 | 25.5% | — | ||
| Q4 24 | 79.9% | — | ||
| Q3 24 | 50.6% | — | ||
| Q2 24 | 10.9% | — | ||
| Q1 24 | 18.4% | — |
资本支出强度GCMGRILY
| Q4 25 | 4.8% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 4.0% | — | ||
| Q1 24 | 3.9% | — |
现金转化率GCMGRILY
| Q4 25 | 3.16× | 0.29× | ||
| Q3 25 | 7.61× | -0.66× | ||
| Q2 25 | 2.72× | -0.18× | ||
| Q1 25 | 71.84× | — | ||
| Q4 24 | 19.54× | — | ||
| Q3 24 | 16.60× | — | ||
| Q2 24 | 3.64× | — | ||
| Q1 24 | 11.40× | — |
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
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
