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GCM Grosvenor Inc.（GCMG）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）财务数据对比。点击上方公司名可切换其他公司
VIRTUS INVESTMENT PARTNERS, INC.的季度营收约是GCM Grosvenor Inc.的1.2倍（$208.0M vs $177.1M），GCM Grosvenor Inc.净利率更高（32.8% vs 16.3%，领先16.6%），GCM Grosvenor Inc.同比增速更快（7.2% vs -10.9%），GCM Grosvenor Inc.自由现金流更多（$175.0M vs $-74.1M），过去两年GCM Grosvenor Inc.的营收复合增速更高（27.5% vs -3.2%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
GCMG vs VRTS — 直观对比
营收规模更大
VRTS
是对方的1.2倍
$177.1M
营收增速更快
GCMG
高出18.1%
-10.9%
净利率更高
GCMG
高出16.6%
16.3%
自由现金流更多
GCMG
多$249.1M
$-74.1M
两年增速更快
GCMG
近两年复合增速
-3.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $177.1M | $208.0M |
| 净利润 | $58.2M | $33.9M |
| 毛利率 | — | — |
| 营业利润率 | 30.9% | 19.1% |
| 净利率 | 32.8% | 16.3% |
| 营收同比 | 7.2% | -10.9% |
| 净利润同比 | 149.2% | -14.2% |
| 每股收益（稀释后） | $0.23 | $5.15 |
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GCMGVRTS
| Q4 25 | $177.1M | $208.0M | ||
| Q3 25 | $135.0M | $216.4M | ||
| Q2 25 | $119.7M | $210.5M | ||
| Q1 25 | $125.8M | $217.9M | ||
| Q4 24 | $165.3M | $233.5M | ||
| Q3 24 | $122.9M | $227.0M | ||
| Q2 24 | $117.0M | $224.4M | ||
| Q1 24 | $108.9M | $222.0M |
净利润GCMGVRTS
| Q4 25 | $58.2M | $33.9M | ||
| Q3 25 | $10.5M | $31.3M | ||
| Q2 25 | $15.4M | $42.7M | ||
| Q1 25 | $463.0K | $28.1M | ||
| Q4 24 | $7.6M | $39.5M | ||
| Q3 24 | $4.2M | $49.1M | ||
| Q2 24 | $4.8M | $26.0M | ||
| Q1 24 | $2.1M | $37.9M |
营业利润率GCMGVRTS
| Q4 25 | 30.9% | 19.1% | ||
| Q3 25 | 32.7% | 21.7% | ||
| Q2 25 | 16.1% | 21.5% | ||
| Q1 25 | 12.2% | 16.8% | ||
| Q4 24 | 26.4% | 21.7% | ||
| Q3 24 | 20.3% | 24.3% | ||
| Q2 24 | 17.8% | 19.7% | ||
| Q1 24 | -14.7% | 14.5% |
净利率GCMGVRTS
| Q4 25 | 32.8% | 16.3% | ||
| Q3 25 | 7.8% | 14.5% | ||
| Q2 25 | 12.9% | 20.3% | ||
| Q1 25 | 0.4% | 12.9% | ||
| Q4 24 | 4.6% | 16.9% | ||
| Q3 24 | 3.4% | 21.6% | ||
| Q2 24 | 4.1% | 11.6% | ||
| Q1 24 | 2.0% | 17.1% |
每股收益（稀释后）GCMGVRTS
| Q4 25 | $0.23 | $5.15 | ||
| Q3 25 | $0.16 | $4.65 | ||
| Q2 25 | $0.05 | $6.12 | ||
| Q1 25 | $-0.02 | $4.05 | ||
| Q4 24 | $0.09 | $4.65 | ||
| Q3 24 | $0.03 | $5.71 | ||
| Q2 24 | $0.04 | $2.43 | ||
| Q1 24 | $-0.13 | $4.10 |
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 | — |
| 总债务越低越好 | $428.4M | $390.0M |
| 股东权益账面价值 | $27.0M | $934.0M |
| 总资产 | $813.8M | $4.3B |
| 负债/权益比越低杠杆越低 | 15.87× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资GCMGVRTS
| Q4 25 | $242.1M | — | ||
| Q3 25 | $182.7M | — | ||
| Q2 25 | $136.3M | — | ||
| Q1 25 | $94.5M | — | ||
| Q4 24 | $89.5M | — | ||
| Q3 24 | $98.4M | — | ||
| Q2 24 | $73.9M | — | ||
| Q1 24 | $41.9M | — |
总债务GCMGVRTS
| Q4 25 | $428.4M | $390.0M | ||
| Q3 25 | $429.3M | $390.6M | ||
| Q2 25 | $430.2M | $231.3M | ||
| Q1 25 | $431.1M | $231.7M | ||
| Q4 24 | $432.0M | $232.1M | ||
| Q3 24 | $432.9M | $237.5M | ||
| Q2 24 | $433.8M | $247.6M | ||
| Q1 24 | $384.0M | $253.0M |
股东权益GCMGVRTS
| Q4 25 | $27.0M | $934.0M | ||
| Q3 25 | $-7.4M | $918.7M | ||
| Q2 25 | $-12.3M | $896.4M | ||
| Q1 25 | $-28.3M | $893.7M | ||
| Q4 24 | $-27.6M | $897.5M | ||
| Q3 24 | $-31.9M | $889.0M | ||
| Q2 24 | $-28.5M | $868.7M | ||
| Q1 24 | $-26.4M | $871.7M |
总资产GCMGVRTS
| Q4 25 | $813.8M | $4.3B | ||
| Q3 25 | $685.9M | $3.9B | ||
| Q2 25 | $636.9M | $3.7B | ||
| Q1 25 | $579.8M | $3.7B | ||
| Q4 24 | $612.7M | $4.0B | ||
| Q3 24 | $575.0M | $3.6B | ||
| Q2 24 | $543.9M | $3.6B | ||
| Q1 24 | $497.3M | $3.5B |
负债/权益比GCMGVRTS
| Q4 25 | 15.87× | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 0.29× |
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 | $-67.2M |
| 自由现金流经营现金流 - 资本支出 | $175.0M | $-74.1M |
| 自由现金流率自由现金流/营收 | 98.8% | -35.6% |
| 资本支出强度资本支出/营收 | 4.8% | 3.3% |
| 现金转化率经营现金流/净利润 | 3.16× | -1.99× |
| 过去12个月自由现金流最近4个季度 | $326.2M | $100.2M |
8季度趋势，按日历期对齐
经营现金流GCMGVRTS
| Q4 25 | $183.5M | $-67.2M | ||
| Q3 25 | $79.8M | $108.3M | ||
| Q2 25 | $42.0M | $75.8M | ||
| Q1 25 | $33.3M | $-3.8M | ||
| Q4 24 | $148.8M | $1.8M | ||
| Q3 24 | $69.0M | $69.1M | ||
| Q2 24 | $17.5M | $70.0M | ||
| Q1 24 | $24.2M | $-34.5M |
自由现金流GCMGVRTS
| Q4 25 | $175.0M | $-74.1M | ||
| Q3 25 | $78.3M | $106.9M | ||
| Q2 25 | $40.8M | $74.2M | ||
| Q1 25 | $32.1M | $-6.8M | ||
| Q4 24 | $132.0M | $-3.8M | ||
| Q3 24 | $62.2M | $68.7M | ||
| Q2 24 | $12.8M | $68.6M | ||
| Q1 24 | $20.0M | $-36.5M |
自由现金流率GCMGVRTS
| Q4 25 | 98.8% | -35.6% | ||
| Q3 25 | 58.0% | 49.4% | ||
| Q2 25 | 34.1% | 35.2% | ||
| Q1 25 | 25.5% | -3.1% | ||
| Q4 24 | 79.9% | -1.6% | ||
| Q3 24 | 50.6% | 30.3% | ||
| Q2 24 | 10.9% | 30.6% | ||
| Q1 24 | 18.4% | -16.4% |
资本支出强度GCMGVRTS
| Q4 25 | 4.8% | 3.3% | ||
| Q3 25 | 1.1% | 0.7% | ||
| Q2 25 | 1.0% | 0.7% | ||
| Q1 25 | 0.9% | 1.4% | ||
| Q4 24 | 10.1% | 2.4% | ||
| Q3 24 | 5.5% | 0.2% | ||
| Q2 24 | 4.0% | 0.6% | ||
| Q1 24 | 3.9% | 0.9% |
现金转化率GCMGVRTS
| Q4 25 | 3.16× | -1.99× | ||
| Q3 25 | 7.61× | 3.45× | ||
| Q2 25 | 2.72× | 1.77× | ||
| Q1 25 | 71.84× | -0.13× | ||
| Q4 24 | 19.54× | 0.04× | ||
| Q3 24 | 16.60× | 1.41× | ||
| Q2 24 | 3.64× | 2.69× | ||
| Q1 24 | 11.40× | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
