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Generac（GNRC）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
Generac的季度营收约是怡安集团的1.5倍（$1.1B vs $738.0M），怡安集团净利率更高（1.1% vs -2.2%，领先3.3%），怡安集团同比增速更快（13.6% vs -11.6%），过去两年怡安集团的营收复合增速更高（17.1% vs 10.8%）
Generac Holdings Inc.（简称Generac）是美国财富1000强企业，主营面向住宅、小型商业及工业领域的备用发电产品，功率覆盖800瓦至9兆瓦，通过独立经销商、零售商及批发商渠道发售，总部位于威斯康星州沃基肖，在该州多地设有生产基地。
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。
GNRC vs RYAN — 直观对比
营收规模更大
GNRC
是对方的1.5倍
$738.0M
营收增速更快
RYAN
高出25.3%
-11.6%
净利率更高
RYAN
高出3.3%
-2.2%
两年增速更快
RYAN
近两年复合增速
10.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $738.0M |
| 净利润 | $-24.5M | $8.0M |
| 毛利率 | 36.3% | — |
| 营业利润率 | -0.9% | 12.4% |
| 净利率 | -2.2% | 1.1% |
| 营收同比 | -11.6% | 13.6% |
| 净利润同比 | -120.9% | -42.0% |
| 每股收益（稀释后） | $-0.41 | — |
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GNRCRYAN
| Q4 25 | $1.1B | $738.0M | ||
| Q3 25 | $1.1B | $739.6M | ||
| Q2 25 | $1.1B | $840.9M | ||
| Q1 25 | $942.1M | $676.1M | ||
| Q4 24 | $1.2B | $649.4M | ||
| Q3 24 | $1.2B | $588.1M | ||
| Q2 24 | $998.2M | $680.2M | ||
| Q1 24 | $889.3M | $537.9M |
净利润GNRCRYAN
| Q4 25 | $-24.5M | $8.0M | ||
| Q3 25 | $66.2M | $31.1M | ||
| Q2 25 | $74.0M | $52.0M | ||
| Q1 25 | $43.8M | $-27.6M | ||
| Q4 24 | $117.2M | $13.8M | ||
| Q3 24 | $113.7M | $17.6M | ||
| Q2 24 | $59.1M | $46.8M | ||
| Q1 24 | $26.2M | $16.5M |
毛利率GNRCRYAN
| Q4 25 | 36.3% | — | ||
| Q3 25 | 38.3% | — | ||
| Q2 25 | 39.3% | — | ||
| Q1 25 | 39.5% | — | ||
| Q4 24 | 40.6% | — | ||
| Q3 24 | 40.2% | — | ||
| Q2 24 | 37.6% | — | ||
| Q1 24 | 35.6% | — |
营业利润率GNRCRYAN
| Q4 25 | -0.9% | 12.4% | ||
| Q3 25 | 9.3% | 15.0% | ||
| Q2 25 | 10.5% | 22.7% | ||
| Q1 25 | 8.9% | 14.8% | ||
| Q4 24 | 16.0% | 16.8% | ||
| Q3 24 | 14.4% | 13.9% | ||
| Q2 24 | 10.3% | 24.2% | ||
| Q1 24 | 7.5% | 13.5% |
净利率GNRCRYAN
| Q4 25 | -2.2% | 1.1% | ||
| Q3 25 | 5.9% | 4.2% | ||
| Q2 25 | 7.0% | 6.2% | ||
| Q1 25 | 4.7% | -4.1% | ||
| Q4 24 | 9.5% | 2.1% | ||
| Q3 24 | 9.7% | 3.0% | ||
| Q2 24 | 5.9% | 6.9% | ||
| Q1 24 | 2.9% | 3.1% |
每股收益（稀释后）GNRCRYAN
| Q4 25 | $-0.41 | — | ||
| Q3 25 | $1.12 | — | ||
| Q2 25 | $1.25 | — | ||
| Q1 25 | $0.73 | — | ||
| Q4 24 | $2.14 | — | ||
| Q3 24 | $1.89 | — | ||
| Q2 24 | $0.97 | — | ||
| Q1 24 | $0.39 | — |
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 | $341.4M | $158.3M |
| 总债务越低越好 | $1.3B | $3.3B |
| 股东权益账面价值 | $2.6B | $648.1M |
| 总资产 | $5.6B | $10.6B |
| 负债/权益比越低杠杆越低 | 0.48× | 5.16× |
8季度趋势，按日历期对齐
现金及短期投资GNRCRYAN
| Q4 25 | $341.4M | $158.3M | ||
| Q3 25 | $300.0M | $153.5M | ||
| Q2 25 | $223.5M | $172.6M | ||
| Q1 25 | $187.5M | $203.5M | ||
| Q4 24 | $281.3M | $540.2M | ||
| Q3 24 | $214.2M | $235.2M | ||
| Q2 24 | $218.3M | $1.7B | ||
| Q1 24 | $249.4M | $1.6B |
总债务GNRCRYAN
| Q4 25 | $1.3B | $3.3B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | $3.3B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益GNRCRYAN
| Q4 25 | $2.6B | $648.1M | ||
| Q3 25 | $2.6B | $630.5M | ||
| Q2 25 | $2.6B | $610.1M | ||
| Q1 25 | $2.5B | $542.5M | ||
| Q4 24 | $2.5B | $627.7M | ||
| Q3 24 | $2.4B | $632.8M | ||
| Q2 24 | $2.4B | $605.9M | ||
| Q1 24 | $2.4B | $554.4M |
总资产GNRCRYAN
| Q4 25 | $5.6B | $10.6B | ||
| Q3 25 | $5.6B | $9.9B | ||
| Q2 25 | $5.4B | $10.6B | ||
| Q1 25 | $5.1B | $9.9B | ||
| Q4 24 | $5.1B | $9.6B | ||
| Q3 24 | $5.2B | $8.5B | ||
| Q2 24 | $5.1B | $8.3B | ||
| Q1 24 | $5.1B | $7.1B |
负债/权益比GNRCRYAN
| Q4 25 | 0.48× | 5.16× | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.49× | 5.22× | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 0.61× | — | ||
| Q1 24 | 0.61× | — |
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 | $189.3M | $263.2M |
| 自由现金流经营现金流 - 资本支出 | $129.9M | — |
| 自由现金流率自由现金流/营收 | 11.9% | — |
| 资本支出强度资本支出/营收 | 5.4% | 0.0% |
| 现金转化率经营现金流/净利润 | — | 32.99× |
| 过去12个月自由现金流最近4个季度 | $268.1M | — |
8季度趋势，按日历期对齐
经营现金流GNRCRYAN
| Q4 25 | $189.3M | $263.2M | ||
| Q3 25 | $118.4M | $169.7M | ||
| Q2 25 | $72.2M | $353.6M | ||
| Q1 25 | $58.2M | $-142.8M | ||
| Q4 24 | $339.5M | $259.6M | ||
| Q3 24 | $212.3M | $100.9M | ||
| Q2 24 | $77.7M | $270.8M | ||
| Q1 24 | $111.9M | $-116.5M |
自由现金流GNRCRYAN
| Q4 25 | $129.9M | — | ||
| Q3 25 | $96.5M | $167.3M | ||
| Q2 25 | $14.5M | — | ||
| Q1 25 | $27.2M | $-143.5M | ||
| Q4 24 | $286.1M | — | ||
| Q3 24 | $183.7M | — | ||
| Q2 24 | $49.7M | — | ||
| Q1 24 | $85.1M | — |
自由现金流率GNRCRYAN
| Q4 25 | 11.9% | — | ||
| Q3 25 | 8.7% | 22.6% | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 2.9% | -21.2% | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 15.6% | — | ||
| Q2 24 | 5.0% | — | ||
| Q1 24 | 9.6% | — |
资本支出强度GNRCRYAN
| Q4 25 | 5.4% | 0.0% | ||
| Q3 25 | 2.0% | 0.3% | ||
| Q2 25 | 5.4% | 0.0% | ||
| Q1 25 | 3.3% | 0.1% | ||
| Q4 24 | 4.3% | 0.0% | ||
| Q3 24 | 2.4% | 0.0% | ||
| Q2 24 | 2.8% | 0.0% | ||
| Q1 24 | 3.0% | 0.0% |
现金转化率GNRCRYAN
| Q4 25 | — | 32.99× | ||
| Q3 25 | 1.79× | 5.46× | ||
| Q2 25 | 0.98× | 6.80× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 2.90× | 18.88× | ||
| Q3 24 | 1.87× | 5.74× | ||
| Q2 24 | 1.31× | 5.79× | ||
| Q1 24 | 4.27× | -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
GNRC
| Residential Power Products | $550.1M | 50% |
| Commercial And Industrial Power Products | $228.4M | 21% |
| Other | $202.3M | 19% |
| Other Products And Services | $106.0M | 10% |
| Intersegment Sales | $4.8M | 0% |
RYAN
| Wholesale Brokerage | $385.7M | 52% |
| Underwriting Management | $268.3M | 36% |
| Binding Authorities | $84.0M | 11% |
