vs
华利安（HLI）与BLUE OWL CAPITAL INC.（OWL）财务数据对比。点击上方公司名可切换其他公司
BLUE OWL CAPITAL INC.的季度营收约是华利安的1.1倍（$755.6M vs $717.1M）。华利安净利率更高（16.3% vs 6.3%，领先9.9%）。BLUE OWL CAPITAL INC.同比增速更快（19.7% vs 13.0%）。BLUE OWL CAPITAL INC.自由现金流更多（$359.1M vs $217.0M）。过去两年BLUE OWL CAPITAL INC.的营收复合增速更高（21.3% vs 17.4%）
华利安是美国知名跨国独立投资银行及金融服务机构，1972年成立，总部位于加利福尼亚州洛杉矶世纪城的星座广场。公司为上市企业、非公众公司、机构及政府主体提供专业服务，核心业务涵盖并购咨询、资本解决方案、重组与困境并购、公允意见出具，以及财务与估值顾问等领域。
Blue Owl Capital Inc.是美国另类投资资产管理机构，于纽约证券交易所挂牌上市，股票代码为OWL，总部设在纽约市，在伦敦、迪拜、中国香港等全球多地设有办事处，专注为各类客户提供专业的另类资产管理解决方案。
HLI vs OWL — 直观对比
营收规模更大
OWL
是对方的1.1倍
$717.1M
营收增速更快
OWL
高出6.7%
13.0%
净利率更高
HLI
高出9.9%
6.3%
自由现金流更多
OWL
多$142.1M
$217.0M
两年增速更快
OWL
近两年复合增速
17.4%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $717.1M | $755.6M |
| 净利润 | $116.5M | $47.7M |
| 毛利率 | 32.2% | — |
| 营业利润率 | 22.4% | 22.2% |
| 净利率 | 16.3% | 6.3% |
| 营收同比 | 13.0% | 19.7% |
| 净利润同比 | 22.3% | 129.8% |
| 每股收益（稀释后） | $1.70 | $0.07 |
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HLIOWL
| Q4 25 | $717.1M | $755.6M | ||
| Q3 25 | $659.5M | $728.0M | ||
| Q2 25 | $605.3M | $703.1M | ||
| Q1 25 | $666.4M | $683.5M | ||
| Q4 24 | $634.4M | $631.4M | ||
| Q3 24 | $575.0M | $600.9M | ||
| Q2 24 | $513.6M | $549.8M | ||
| Q1 24 | $520.5M | $513.3M |
净利润HLIOWL
| Q4 25 | $116.5M | $47.7M | ||
| Q3 25 | $111.8M | $6.3M | ||
| Q2 25 | $97.5M | $17.4M | ||
| Q1 25 | $121.9M | $7.4M | ||
| Q4 24 | $95.3M | $20.7M | ||
| Q3 24 | $93.5M | $29.8M | ||
| Q2 24 | $88.9M | $33.9M | ||
| Q1 24 | $81.1M | $25.1M |
毛利率HLIOWL
| Q4 25 | 32.2% | — | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | 31.0% | — | ||
| Q1 25 | 33.9% | — | ||
| Q4 24 | 31.4% | — | ||
| Q3 24 | 33.0% | — | ||
| Q2 24 | 30.6% | — | ||
| Q1 24 | 30.3% | — |
营业利润率HLIOWL
| Q4 25 | 22.4% | 22.2% | ||
| Q3 25 | 22.9% | 7.6% | ||
| Q2 25 | 14.8% | 12.0% | ||
| Q1 25 | 20.9% | 5.9% | ||
| Q4 24 | 21.5% | 11.7% | ||
| Q3 24 | 22.7% | 18.7% | ||
| Q2 24 | 18.6% | 28.4% | ||
| Q1 24 | 19.7% | 24.7% |
净利率HLIOWL
| Q4 25 | 16.3% | 6.3% | ||
| Q3 25 | 17.0% | 0.9% | ||
| Q2 25 | 16.1% | 2.5% | ||
| Q1 25 | 18.3% | 1.1% | ||
| Q4 24 | 15.0% | 3.3% | ||
| Q3 24 | 16.3% | 5.0% | ||
| Q2 24 | 17.3% | 6.2% | ||
| Q1 24 | 15.6% | 4.9% |
每股收益（稀释后）HLIOWL
| Q4 25 | $1.70 | $0.07 | ||
| Q3 25 | $1.63 | $0.01 | ||
| Q2 25 | $1.42 | $0.02 | ||
| Q1 25 | $1.76 | $0.00 | ||
| Q4 24 | $1.39 | $0.06 | ||
| Q3 24 | $1.37 | $0.04 | ||
| Q2 24 | $1.30 | $0.06 | ||
| Q1 24 | $1.18 | $0.04 |
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 | $1.1B | $194.5M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $2.3B | $2.2B |
| 总资产 | $3.9B | $12.5B |
| 负债/权益比越低杠杆越低 | — | 1.51× |
8季度趋势，按日历期对齐
现金及短期投资HLIOWL
| Q4 25 | $1.1B | $194.5M | ||
| Q3 25 | $923.6M | $137.3M | ||
| Q2 25 | $793.8M | $117.6M | ||
| Q1 25 | $971.0M | $97.6M | ||
| Q4 24 | $799.3M | $152.1M | ||
| Q3 24 | $691.4M | $115.9M | ||
| Q2 24 | $449.7M | $436.8M | ||
| Q1 24 | $721.2M | $155.8M |
总债务HLIOWL
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.1B |
股东权益HLIOWL
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $2.2B | $2.3B | ||
| Q2 25 | $2.2B | $2.4B | ||
| Q1 25 | $2.2B | $2.3B | ||
| Q4 24 | $2.1B | $2.1B | ||
| Q3 24 | $2.0B | $2.0B | ||
| Q2 24 | $1.8B | $1.7B | ||
| Q1 24 | $1.8B | $1.6B |
总资产HLIOWL
| Q4 25 | $3.9B | $12.5B | ||
| Q3 25 | $3.8B | $12.5B | ||
| Q2 25 | $3.5B | $12.3B | ||
| Q1 25 | $3.8B | $12.3B | ||
| Q4 24 | $3.5B | $11.0B | ||
| Q3 24 | $3.2B | $10.8B | ||
| Q2 24 | $2.9B | $9.7B | ||
| Q1 24 | $3.2B | $9.0B |
负债/权益比HLIOWL
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.38× | ||
| Q1 25 | — | 1.37× | ||
| Q4 24 | — | 1.22× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 1.41× | ||
| Q1 24 | — | 1.26× |
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 | $217.7M | $382.9M |
| 自由现金流经营现金流 - 资本支出 | $217.0M | $359.1M |
| 自由现金流率自由现金流/营收 | 30.3% | 47.5% |
| 资本支出强度资本支出/营收 | 0.1% | 3.1% |
| 现金转化率经营现金流/净利润 | 1.87× | 8.03× |
| 过去12个月自由现金流最近4个季度 | $738.9M | $1.2B |
8季度趋势，按日历期对齐
经营现金流HLIOWL
| Q4 25 | $217.7M | $382.9M | ||
| Q3 25 | $325.0M | $433.1M | ||
| Q2 25 | $-131.6M | $422.5M | ||
| Q1 25 | $358.4M | $17.6M | ||
| Q4 24 | $265.5M | $324.0M | ||
| Q3 24 | $289.2M | $326.0M | ||
| Q2 24 | $-64.5M | $302.3M | ||
| Q1 24 | $225.3M | $47.2M |
自由现金流HLIOWL
| Q4 25 | $217.0M | $359.1M | ||
| Q3 25 | $322.8M | $422.5M | ||
| Q2 25 | $-144.8M | $412.5M | ||
| Q1 25 | $343.9M | $4.2M | ||
| Q4 24 | $261.7M | $310.1M | ||
| Q3 24 | $278.7M | $314.8M | ||
| Q2 24 | $-75.4M | $269.4M | ||
| Q1 24 | $213.1M | $41.1M |
自由现金流率HLIOWL
| Q4 25 | 30.3% | 47.5% | ||
| Q3 25 | 49.0% | 58.0% | ||
| Q2 25 | -23.9% | 58.7% | ||
| Q1 25 | 51.6% | 0.6% | ||
| Q4 24 | 41.2% | 49.1% | ||
| Q3 24 | 48.5% | 52.4% | ||
| Q2 24 | -14.7% | 49.0% | ||
| Q1 24 | 40.9% | 8.0% |
资本支出强度HLIOWL
| Q4 25 | 0.1% | 3.1% | ||
| Q3 25 | 0.3% | 1.5% | ||
| Q2 25 | 2.2% | 1.4% | ||
| Q1 25 | 2.2% | 2.0% | ||
| Q4 24 | 0.6% | 2.2% | ||
| Q3 24 | 1.8% | 1.9% | ||
| Q2 24 | 2.1% | 6.0% | ||
| Q1 24 | 2.3% | 1.2% |
现金转化率HLIOWL
| Q4 25 | 1.87× | 8.03× | ||
| Q3 25 | 2.91× | 68.64× | ||
| Q2 25 | -1.35× | 24.25× | ||
| Q1 25 | 2.94× | 2.37× | ||
| Q4 24 | 2.79× | 15.62× | ||
| Q3 24 | 3.09× | 10.94× | ||
| Q2 24 | -0.73× | 8.91× | ||
| Q1 24 | 2.78× | 1.88× |
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
HLI
| Corporate Finance | $473.7M | 66% |
| Financial Restructuring | $156.3M | 22% |
| Financial Advisory Services | $87.1M | 12% |
OWL
| Credit Platform | $455.0M | 60% |
| GP Strategic Capital Platform | $157.0M | 21% |
| Administrative Service | $87.6M | 12% |
| IPI Partners LLC | $33.8M | 4% |
| Other | $22.2M | 3% |
