vs
华利安（HLI）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
越洋钻探的季度营收约是华利安的1.5倍（$1.0B vs $717.1M），华利安净利率更高（16.3% vs 2.4%，领先13.9%），华利安同比增速更快（13.0% vs 9.6%），越洋钻探自由现金流更多（$321.0M vs $217.0M），过去两年华利安的营收复合增速更高（17.4% vs 16.9%）
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。
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。
HLI vs RIG — 直观对比
营收规模更大
RIG
是对方的1.5倍
$717.1M
营收增速更快
HLI
高出3.5%
9.6%
净利率更高
HLI
高出13.9%
2.4%
自由现金流更多
RIG
多$104.0M
$217.0M
两年增速更快
HLI
近两年复合增速
16.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $717.1M | $1.0B |
| 净利润 | $116.5M | $25.0M |
| 毛利率 | 32.2% | 42.0% |
| 营业利润率 | 22.4% | 23.0% |
| 净利率 | 16.3% | 2.4% |
| 营收同比 | 13.0% | 9.6% |
| 净利润同比 | 22.3% | 257.1% |
| 每股收益（稀释后） | $1.70 | $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HLIRIG
| Q4 25 | $717.1M | $1.0B | ||
| Q3 25 | $659.5M | $1.0B | ||
| Q2 25 | $605.3M | $988.0M | ||
| Q1 25 | $666.4M | $906.0M | ||
| Q4 24 | $634.4M | $952.0M | ||
| Q3 24 | $575.0M | $948.0M | ||
| Q2 24 | $513.6M | $861.0M | ||
| Q1 24 | $520.5M | $763.0M |
净利润HLIRIG
| Q4 25 | $116.5M | $25.0M | ||
| Q3 25 | $111.8M | $-1.9B | ||
| Q2 25 | $97.5M | $-938.0M | ||
| Q1 25 | $121.9M | $-79.0M | ||
| Q4 24 | $95.3M | $7.0M | ||
| Q3 24 | $93.5M | $-494.0M | ||
| Q2 24 | $88.9M | $-123.0M | ||
| Q1 24 | $81.1M | $98.0M |
毛利率HLIRIG
| Q4 25 | 32.2% | 42.0% | ||
| Q3 25 | 33.8% | 43.2% | ||
| Q2 25 | 31.0% | 39.4% | ||
| Q1 25 | 33.9% | 31.8% | ||
| Q4 24 | 31.4% | 39.2% | ||
| Q3 24 | 33.0% | 40.6% | ||
| Q2 24 | 30.6% | 38.0% | ||
| Q1 24 | 30.3% | 31.5% |
营业利润率HLIRIG
| Q4 25 | 22.4% | 23.0% | ||
| Q3 25 | 22.9% | -163.1% | ||
| Q2 25 | 14.8% | -97.6% | ||
| Q1 25 | 20.9% | 7.1% | ||
| Q4 24 | 21.5% | 13.7% | ||
| Q3 24 | 22.7% | -51.2% | ||
| Q2 24 | 18.6% | -6.9% | ||
| Q1 24 | 19.7% | -0.4% |
净利率HLIRIG
| Q4 25 | 16.3% | 2.4% | ||
| Q3 25 | 17.0% | -187.1% | ||
| Q2 25 | 16.1% | -94.9% | ||
| Q1 25 | 18.3% | -8.7% | ||
| Q4 24 | 15.0% | 0.7% | ||
| Q3 24 | 16.3% | -52.1% | ||
| Q2 24 | 17.3% | -14.3% | ||
| Q1 24 | 15.6% | 12.8% |
每股收益（稀释后）HLIRIG
| Q4 25 | $1.70 | $0.13 | ||
| Q3 25 | $1.63 | $-2.00 | ||
| Q2 25 | $1.42 | $-1.06 | ||
| Q1 25 | $1.76 | $-0.11 | ||
| Q4 24 | $1.39 | $-0.14 | ||
| Q3 24 | $1.37 | $-0.58 | ||
| Q2 24 | $1.30 | $-0.15 | ||
| Q1 24 | $1.18 | $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 | $1.1B | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $2.3B | $8.1B |
| 总资产 | $3.9B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资HLIRIG
| Q4 25 | $1.1B | $620.0M | ||
| Q3 25 | $923.6M | $833.0M | ||
| Q2 25 | $793.8M | $377.0M | ||
| Q1 25 | $971.0M | $263.0M | ||
| Q4 24 | $799.3M | $560.0M | ||
| Q3 24 | $691.4M | $435.0M | ||
| Q2 24 | $449.7M | $475.0M | ||
| Q1 24 | $721.2M | $446.0M |
总债务HLIRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益HLIRIG
| Q4 25 | $2.3B | $8.1B | ||
| Q3 25 | $2.2B | $8.1B | ||
| Q2 25 | $2.2B | $9.4B | ||
| Q1 25 | $2.2B | $10.2B | ||
| Q4 24 | $2.1B | $10.3B | ||
| Q3 24 | $2.0B | $10.2B | ||
| Q2 24 | $1.8B | $10.7B | ||
| Q1 24 | $1.8B | $10.5B |
总资产HLIRIG
| Q4 25 | $3.9B | $15.6B | ||
| Q3 25 | $3.8B | $16.2B | ||
| Q2 25 | $3.5B | $17.8B | ||
| Q1 25 | $3.8B | $19.0B | ||
| Q4 24 | $3.5B | $19.4B | ||
| Q3 24 | $3.2B | $19.5B | ||
| Q2 24 | $2.9B | $20.3B | ||
| Q1 24 | $3.2B | $19.9B |
负债/权益比HLIRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 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 | $217.7M | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $217.0M | $321.0M |
| 自由现金流率自由现金流/营收 | 30.3% | 30.8% |
| 资本支出强度资本支出/营收 | 0.1% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.87× | 13.96× |
| 过去12个月自由现金流最近4个季度 | $738.9M | $626.0M |
8季度趋势，按日历期对齐
经营现金流HLIRIG
| Q4 25 | $217.7M | $349.0M | ||
| Q3 25 | $325.0M | $246.0M | ||
| Q2 25 | $-131.6M | $128.0M | ||
| Q1 25 | $358.4M | $26.0M | ||
| Q4 24 | $265.5M | $206.0M | ||
| Q3 24 | $289.2M | $194.0M | ||
| Q2 24 | $-64.5M | $133.0M | ||
| Q1 24 | $225.3M | $-86.0M |
自由现金流HLIRIG
| Q4 25 | $217.0M | $321.0M | ||
| Q3 25 | $322.8M | $235.0M | ||
| Q2 25 | $-144.8M | $104.0M | ||
| Q1 25 | $343.9M | $-34.0M | ||
| Q4 24 | $261.7M | $177.0M | ||
| Q3 24 | $278.7M | $136.0M | ||
| Q2 24 | $-75.4M | $49.0M | ||
| Q1 24 | $213.1M | $-169.0M |
自由现金流率HLIRIG
| Q4 25 | 30.3% | 30.8% | ||
| Q3 25 | 49.0% | 22.9% | ||
| Q2 25 | -23.9% | 10.5% | ||
| Q1 25 | 51.6% | -3.8% | ||
| Q4 24 | 41.2% | 18.6% | ||
| Q3 24 | 48.5% | 14.3% | ||
| Q2 24 | -14.7% | 5.7% | ||
| Q1 24 | 40.9% | -22.1% |
资本支出强度HLIRIG
| Q4 25 | 0.1% | 2.7% | ||
| Q3 25 | 0.3% | 1.1% | ||
| Q2 25 | 2.2% | 2.4% | ||
| Q1 25 | 2.2% | 6.6% | ||
| Q4 24 | 0.6% | 3.0% | ||
| Q3 24 | 1.8% | 6.1% | ||
| Q2 24 | 2.1% | 9.8% | ||
| Q1 24 | 2.3% | 10.9% |
现金转化率HLIRIG
| Q4 25 | 1.87× | 13.96× | ||
| Q3 25 | 2.91× | — | ||
| Q2 25 | -1.35× | — | ||
| Q1 25 | 2.94× | — | ||
| Q4 24 | 2.79× | 29.43× | ||
| Q3 24 | 3.09× | — | ||
| Q2 24 | -0.73× | — | ||
| Q1 24 | 2.78× | -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
HLI
| Corporate Finance | $473.7M | 66% |
| Financial Restructuring | $156.3M | 22% |
| Financial Advisory Services | $87.1M | 12% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
