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G III APPAREL GROUP LTD（GIII）与怡安集团（RYAN）财务数据对比。点击上方公司名可切换其他公司
G III APPAREL GROUP LTD的季度营收约是怡安集团的1.3倍（$988.6M vs $738.0M），G III APPAREL GROUP LTD净利率更高（8.2% vs 1.1%，领先7.1%），怡安集团同比增速更快（13.6% vs -9.0%），过去两年怡安集团的营收复合增速更高（17.1% vs 13.7%）
GIII服装集团是一家国际时尚企业，设计、生产及销售服装、鞋履、配饰等产品，拥有多个知名自有及授权品牌，覆盖休闲、运动、轻奢等多个品类，主要销往北美、欧洲等全球市场，合作客户包括百货商场、专业零售商及电商平台。
怡安集团是一家业务横跨英美两国的专业服务企业，目前主要开展两大板块业务：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块则提供健康保险、退休计划、养老金计划与人才咨询相关服务。
GIII vs RYAN — 直观对比
营收规模更大
GIII
是对方的1.3倍
$738.0M
营收增速更快
RYAN
高出22.7%
-9.0%
净利率更高
GIII
高出7.1%
1.1%
两年增速更快
RYAN
近两年复合增速
13.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $988.6M | $738.0M |
| 净利润 | $80.6M | $8.0M |
| 毛利率 | 38.6% | — |
| 营业利润率 | 11.4% | 12.4% |
| 净利率 | 8.2% | 1.1% |
| 营收同比 | -9.0% | 13.6% |
| 净利润同比 | -29.8% | -42.0% |
| 每股收益（稀释后） | $1.84 | — |
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GIIIRYAN
| Q4 25 | $988.6M | $738.0M | ||
| Q3 25 | $613.3M | $739.6M | ||
| Q2 25 | $583.6M | $840.9M | ||
| Q1 25 | $839.5M | $676.1M | ||
| Q4 24 | $1.1B | $649.4M | ||
| Q3 24 | $644.8M | $588.1M | ||
| Q2 24 | $609.7M | $680.2M | ||
| Q1 24 | $764.8M | $537.9M |
净利润GIIIRYAN
| Q4 25 | $80.6M | $8.0M | ||
| Q3 25 | $10.9M | $31.1M | ||
| Q2 25 | $7.8M | $52.0M | ||
| Q1 25 | $48.8M | $-27.6M | ||
| Q4 24 | $114.8M | $13.8M | ||
| Q3 24 | $24.2M | $17.6M | ||
| Q2 24 | $5.8M | $46.8M | ||
| Q1 24 | $28.9M | $16.5M |
毛利率GIIIRYAN
| Q4 25 | 38.6% | — | ||
| Q3 25 | 40.8% | — | ||
| Q2 25 | 42.2% | — | ||
| Q1 25 | 39.5% | — | ||
| Q4 24 | 39.8% | — | ||
| Q3 24 | 42.8% | — | ||
| Q2 24 | 42.5% | — | ||
| Q1 24 | 36.9% | — |
营业利润率GIIIRYAN
| Q4 25 | 11.4% | 12.4% | ||
| Q3 25 | 2.7% | 15.0% | ||
| Q2 25 | 1.5% | 22.7% | ||
| Q1 25 | 8.5% | 14.8% | ||
| Q4 24 | 15.3% | 16.8% | ||
| Q3 24 | 6.4% | 13.9% | ||
| Q2 24 | 2.2% | 24.2% | ||
| Q1 24 | 6.1% | 13.5% |
净利率GIIIRYAN
| Q4 25 | 8.2% | 1.1% | ||
| Q3 25 | 1.8% | 4.2% | ||
| Q2 25 | 1.3% | 6.2% | ||
| Q1 25 | 5.8% | -4.1% | ||
| Q4 24 | 10.6% | 2.1% | ||
| Q3 24 | 3.8% | 3.0% | ||
| Q2 24 | 1.0% | 6.9% | ||
| Q1 24 | 3.8% | 3.1% |
每股收益（稀释后）GIIIRYAN
| Q4 25 | $1.84 | — | ||
| Q3 25 | $0.25 | — | ||
| Q2 25 | $0.17 | — | ||
| Q1 25 | $1.00 | — | ||
| Q4 24 | $2.55 | — | ||
| Q3 24 | $0.53 | — | ||
| Q2 24 | $0.12 | — | ||
| Q1 24 | $0.59 | — |
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 | $184.1M | $158.3M |
| 总债务越低越好 | $6.5M | $3.3B |
| 股东权益账面价值 | $1.8B | $648.1M |
| 总资产 | $2.8B | $10.6B |
| 负债/权益比越低杠杆越低 | 0.00× | 5.16× |
8季度趋势，按日历期对齐
现金及短期投资GIIIRYAN
| Q4 25 | $184.1M | $158.3M | ||
| Q3 25 | $301.8M | $153.5M | ||
| Q2 25 | $257.8M | $172.6M | ||
| Q1 25 | $181.4M | $203.5M | ||
| Q4 24 | $104.7M | $540.2M | ||
| Q3 24 | $414.8M | $235.2M | ||
| Q2 24 | $508.4M | $1.7B | ||
| Q1 24 | $507.8M | $1.6B |
总债务GIIIRYAN
| Q4 25 | $6.5M | $3.3B | ||
| Q3 25 | $6.9M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $3.0M | — | ||
| Q4 24 | $213.9M | $3.3B | ||
| Q3 24 | $402.5M | — | ||
| Q2 24 | $402.7M | — | ||
| Q1 24 | $402.8M | — |
股东权益GIIIRYAN
| Q4 25 | $1.8B | $648.1M | ||
| Q3 25 | $1.7B | $630.5M | ||
| Q2 25 | $1.7B | $610.1M | ||
| Q1 25 | $1.7B | $542.5M | ||
| Q4 24 | $1.6B | $627.7M | ||
| Q3 24 | $1.5B | $632.8M | ||
| Q2 24 | $1.5B | $605.9M | ||
| Q1 24 | $1.6B | $554.4M |
总资产GIIIRYAN
| Q4 25 | $2.8B | $10.6B | ||
| Q3 25 | $2.7B | $9.9B | ||
| Q2 25 | $2.4B | $10.6B | ||
| Q1 25 | $2.5B | $9.9B | ||
| Q4 24 | $2.8B | $9.6B | ||
| Q3 24 | $2.7B | $8.5B | ||
| Q2 24 | $2.6B | $8.3B | ||
| Q1 24 | $2.7B | $7.1B |
负债/权益比GIIIRYAN
| Q4 25 | 0.00× | 5.16× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.13× | 5.22× | ||
| Q3 24 | 0.27× | — | ||
| Q2 24 | 0.26× | — | ||
| Q1 24 | 0.26× | — |
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 | $-97.3M | $263.2M |
| 自由现金流经营现金流 - 资本支出 | $-106.4M | — |
| 自由现金流率自由现金流/营收 | -10.8% | — |
| 资本支出强度资本支出/营收 | 0.9% | 0.0% |
| 现金转化率经营现金流/净利润 | -1.21× | 32.99× |
| 过去12个月自由现金流最近4个季度 | $367.7M | — |
8季度趋势，按日历期对齐
经营现金流GIIIRYAN
| Q4 25 | $-97.3M | $263.2M | ||
| Q3 25 | $75.1M | $169.7M | ||
| Q2 25 | $93.8M | $353.6M | ||
| Q1 25 | $333.4M | $-142.8M | ||
| Q4 24 | $-111.8M | $259.6M | ||
| Q3 24 | $49.3M | $100.9M | ||
| Q2 24 | $45.5M | $270.8M | ||
| Q1 24 | $361.3M | $-116.5M |
自由现金流GIIIRYAN
| Q4 25 | $-106.4M | — | ||
| Q3 25 | $64.7M | $167.3M | ||
| Q2 25 | $85.7M | — | ||
| Q1 25 | $323.7M | $-143.5M | ||
| Q4 24 | $-120.3M | — | ||
| Q3 24 | $38.8M | — | ||
| Q2 24 | $32.8M | — | ||
| Q1 24 | $352.3M | — |
自由现金流率GIIIRYAN
| Q4 25 | -10.8% | — | ||
| Q3 25 | 10.6% | 22.6% | ||
| Q2 25 | 14.7% | — | ||
| Q1 25 | 38.6% | -21.2% | ||
| Q4 24 | -11.1% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 46.1% | — |
资本支出强度GIIIRYAN
| Q4 25 | 0.9% | 0.0% | ||
| Q3 25 | 1.7% | 0.3% | ||
| Q2 25 | 1.4% | 0.0% | ||
| Q1 25 | 1.2% | 0.1% | ||
| Q4 24 | 0.8% | 0.0% | ||
| Q3 24 | 1.6% | 0.0% | ||
| Q2 24 | 2.1% | 0.0% | ||
| Q1 24 | 1.2% | 0.0% |
现金转化率GIIIRYAN
| Q4 25 | -1.21× | 32.99× | ||
| Q3 25 | 6.86× | 5.46× | ||
| Q2 25 | 12.09× | 6.80× | ||
| Q1 25 | 6.83× | — | ||
| Q4 24 | -0.97× | 18.88× | ||
| Q3 24 | 2.04× | 5.74× | ||
| Q2 24 | 7.84× | 5.79× | ||
| Q1 24 | 12.52× | -7.05× |
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
GIII
| Proprietary Brands | $498.1M | 50% |
| Licensed Brands | $479.2M | 48% |
| Retail Segment | $45.7M | 5% |
RYAN
| Wholesale Brokerage | $385.7M | 52% |
| Underwriting Management | $268.3M | 36% |
| Binding Authorities | $84.0M | 11% |
