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伯克希尔·哈撒韦（HEI）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
伯克希尔·哈撒韦的季度营收约是越洋钻探的1.2倍（$1.2B vs $1.0B），伯克希尔·哈撒韦净利率更高（15.6% vs 2.4%，领先13.2%），伯克希尔·哈撒韦同比增速更快（19.3% vs 9.6%），越洋钻探自由现金流更多（$321.0M vs $268.5M），过去两年越洋钻探的营收复合增速更高（16.9% vs 16.2%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
HEI vs RIG — 直观对比
营收规模更大
HEI
是对方的1.2倍
$1.0B
营收增速更快
HEI
高出9.8%
9.6%
净利率更高
HEI
高出13.2%
2.4%
自由现金流更多
RIG
多$52.5M
$268.5M
两年增速更快
RIG
近两年复合增速
16.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.0B |
| 净利润 | $188.3M | $25.0M |
| 毛利率 | 40.2% | 42.0% |
| 营业利润率 | 23.1% | 23.0% |
| 净利率 | 15.6% | 2.4% |
| 营收同比 | 19.3% | 9.6% |
| 净利润同比 | 34.8% | 257.1% |
| 每股收益（稀释后） | $1.32 | $0.13 |
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HEIRIG
| Q4 25 | $1.2B | $1.0B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.1B | $988.0M | ||
| Q1 25 | $1.0B | $906.0M | ||
| Q4 24 | $1.0B | $952.0M | ||
| Q3 24 | $992.2M | $948.0M | ||
| Q2 24 | $955.4M | $861.0M | ||
| Q1 24 | $896.4M | $763.0M |
净利润HEIRIG
| Q4 25 | $188.3M | $25.0M | ||
| Q3 25 | $177.3M | $-1.9B | ||
| Q2 25 | $156.8M | $-938.0M | ||
| Q1 25 | $168.0M | $-79.0M | ||
| Q4 24 | $139.7M | $7.0M | ||
| Q3 24 | $136.6M | $-494.0M | ||
| Q2 24 | $123.1M | $-123.0M | ||
| Q1 24 | $114.7M | $98.0M |
毛利率HEIRIG
| Q4 25 | 40.2% | 42.0% | ||
| Q3 25 | 39.8% | 43.2% | ||
| Q2 25 | 39.9% | 39.4% | ||
| Q1 25 | 39.4% | 31.8% | ||
| Q4 24 | 38.9% | 39.2% | ||
| Q3 24 | 39.2% | 40.6% | ||
| Q2 24 | 38.9% | 38.0% | ||
| Q1 24 | 38.7% | 31.5% |
营业利润率HEIRIG
| Q4 25 | 23.1% | 23.0% | ||
| Q3 25 | 23.1% | -163.1% | ||
| Q2 25 | 22.6% | -97.6% | ||
| Q1 25 | 22.0% | 7.1% | ||
| Q4 24 | 21.6% | 13.7% | ||
| Q3 24 | 21.8% | -51.2% | ||
| Q2 24 | 21.9% | -6.9% | ||
| Q1 24 | 20.1% | -0.4% |
净利率HEIRIG
| Q4 25 | 15.6% | 2.4% | ||
| Q3 25 | 15.5% | -187.1% | ||
| Q2 25 | 14.3% | -94.9% | ||
| Q1 25 | 16.3% | -8.7% | ||
| Q4 24 | 13.8% | 0.7% | ||
| Q3 24 | 13.8% | -52.1% | ||
| Q2 24 | 12.9% | -14.3% | ||
| Q1 24 | 12.8% | 12.8% |
每股收益（稀释后）HEIRIG
| Q4 25 | $1.32 | $0.13 | ||
| Q3 25 | $1.26 | $-2.00 | ||
| Q2 25 | $1.12 | $-1.06 | ||
| Q1 25 | $1.20 | $-0.11 | ||
| Q4 24 | $1.00 | $-0.14 | ||
| Q3 24 | $0.97 | $-0.58 | ||
| Q2 24 | $0.88 | $-0.15 | ||
| Q1 24 | $0.82 | $0.11 |
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 | $217.8M | $620.0M |
| 总债务越低越好 | $2.2B | $5.2B |
| 股东权益账面价值 | $4.3B | $8.1B |
| 总资产 | $8.5B | $15.6B |
| 负债/权益比越低杠杆越低 | 0.50× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资HEIRIG
| Q4 25 | $217.8M | $620.0M | ||
| Q3 25 | $261.9M | $833.0M | ||
| Q2 25 | $242.3M | $377.0M | ||
| Q1 25 | $165.5M | $263.0M | ||
| Q4 24 | $162.1M | $560.0M | ||
| Q3 24 | $202.9M | $435.0M | ||
| Q2 24 | $204.2M | $475.0M | ||
| Q1 24 | $196.3M | $446.0M |
总债务HEIRIG
| Q4 25 | $2.2B | $5.2B | ||
| Q3 25 | $2.4B | $4.8B | ||
| Q2 25 | $2.3B | $5.9B | ||
| Q1 25 | $2.3B | $5.9B | ||
| Q4 24 | $2.2B | $6.2B | ||
| Q3 24 | $2.3B | $6.5B | ||
| Q2 24 | $2.4B | $6.8B | ||
| Q1 24 | $2.5B | $6.8B |
股东权益HEIRIG
| Q4 25 | $4.3B | $8.1B | ||
| Q3 25 | $4.1B | $8.1B | ||
| Q2 25 | $4.0B | $9.4B | ||
| Q1 25 | $3.7B | $10.2B | ||
| Q4 24 | $3.6B | $10.3B | ||
| Q3 24 | $3.5B | $10.2B | ||
| Q2 24 | $3.4B | $10.7B | ||
| Q1 24 | $3.3B | $10.5B |
总资产HEIRIG
| Q4 25 | $8.5B | $15.6B | ||
| Q3 25 | $8.5B | $16.2B | ||
| Q2 25 | $8.1B | $17.8B | ||
| Q1 25 | $7.9B | $19.0B | ||
| Q4 24 | $7.6B | $19.4B | ||
| Q3 24 | $7.4B | $19.5B | ||
| Q2 24 | $7.4B | $20.3B | ||
| Q1 24 | $7.3B | $19.9B |
负债/权益比HEIRIG
| Q4 25 | 0.50× | 0.64× | ||
| Q3 25 | 0.59× | 0.60× | ||
| Q2 25 | 0.57× | 0.63× | ||
| Q1 25 | 0.63× | 0.58× | ||
| Q4 24 | 0.61× | 0.60× | ||
| Q3 24 | 0.64× | 0.64× | ||
| Q2 24 | 0.70× | 0.63× | ||
| Q1 24 | 0.76× | 0.65× |
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 | $295.3M | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $321.0M |
| 自由现金流率自由现金流/营收 | 22.2% | 30.8% |
| 资本支出强度资本支出/营收 | 2.2% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.57× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $861.4M | $626.0M |
8季度趋势，按日历期对齐
经营现金流HEIRIG
| Q4 25 | $295.3M | $349.0M | ||
| Q3 25 | $231.2M | $246.0M | ||
| Q2 25 | $204.7M | $128.0M | ||
| Q1 25 | $203.0M | $26.0M | ||
| Q4 24 | $205.6M | $206.0M | ||
| Q3 24 | $214.0M | $194.0M | ||
| Q2 24 | $141.1M | $133.0M | ||
| Q1 24 | $111.7M | $-86.0M |
自由现金流HEIRIG
| Q4 25 | $268.5M | $321.0M | ||
| Q3 25 | $218.5M | $235.0M | ||
| Q2 25 | $188.7M | $104.0M | ||
| Q1 25 | $185.7M | $-34.0M | ||
| Q4 24 | $189.5M | $177.0M | ||
| Q3 24 | $198.1M | $136.0M | ||
| Q2 24 | $128.2M | $49.0M | ||
| Q1 24 | $98.3M | $-169.0M |
自由现金流率HEIRIG
| Q4 25 | 22.2% | 30.8% | ||
| Q3 25 | 19.0% | 22.9% | ||
| Q2 25 | 17.2% | 10.5% | ||
| Q1 25 | 18.0% | -3.8% | ||
| Q4 24 | 18.7% | 18.6% | ||
| Q3 24 | 20.0% | 14.3% | ||
| Q2 24 | 13.4% | 5.7% | ||
| Q1 24 | 11.0% | -22.1% |
资本支出强度HEIRIG
| Q4 25 | 2.2% | 2.7% | ||
| Q3 25 | 1.1% | 1.1% | ||
| Q2 25 | 1.5% | 2.4% | ||
| Q1 25 | 1.7% | 6.6% | ||
| Q4 24 | 1.6% | 3.0% | ||
| Q3 24 | 1.6% | 6.1% | ||
| Q2 24 | 1.4% | 9.8% | ||
| Q1 24 | 1.5% | 10.9% |
现金转化率HEIRIG
| Q4 25 | 1.57× | 13.96× | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 1.21× | — | ||
| Q4 24 | 1.47× | 29.43× | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.15× | — | ||
| Q1 24 | 0.97× | -0.88× |
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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
