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华利安（HLI）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是华利安的1.8倍（$1.3B vs $717.1M），华利安净利率更高（16.3% vs -63.1%，领先79.3%），华利安同比增速更快（13.0% vs -25.8%），华利安自由现金流更多（$217.0M vs $-1.1B），过去两年华利安的营收复合增速更高（17.4% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
HLI vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.8倍
$717.1M
营收增速更快
HLI
高出38.9%
-25.8%
净利率更高
HLI
高出79.3%
-63.1%
自由现金流更多
HLI
多$1.4B
$-1.1B
两年增速更快
HLI
近两年复合增速
3.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $717.1M | $1.3B |
| 净利润 | $116.5M | $-811.0M |
| 毛利率 | 32.2% | 9.3% |
| 营业利润率 | 22.4% | -64.8% |
| 净利率 | 16.3% | -63.1% |
| 营收同比 | 13.0% | -25.8% |
| 净利润同比 | 22.3% | -9.0% |
| 每股收益（稀释后） | $1.70 | $-0.66 |
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HLIRIVN
| Q4 25 | $717.1M | $1.3B | ||
| Q3 25 | $659.5M | $1.6B | ||
| Q2 25 | $605.3M | $1.3B | ||
| Q1 25 | $666.4M | $1.2B | ||
| Q4 24 | $634.4M | $1.7B | ||
| Q3 24 | $575.0M | $874.0M | ||
| Q2 24 | $513.6M | $1.2B | ||
| Q1 24 | $520.5M | $1.2B |
净利润HLIRIVN
| Q4 25 | $116.5M | $-811.0M | ||
| Q3 25 | $111.8M | $-1.2B | ||
| Q2 25 | $97.5M | $-1.1B | ||
| Q1 25 | $121.9M | $-545.0M | ||
| Q4 24 | $95.3M | $-744.0M | ||
| Q3 24 | $93.5M | $-1.1B | ||
| Q2 24 | $88.9M | $-1.5B | ||
| Q1 24 | $81.1M | $-1.4B |
毛利率HLIRIVN
| Q4 25 | 32.2% | 9.3% | ||
| Q3 25 | 33.8% | 1.5% | ||
| Q2 25 | 31.0% | -15.8% | ||
| Q1 25 | 33.9% | 16.6% | ||
| Q4 24 | 31.4% | 9.8% | ||
| Q3 24 | 33.0% | -44.9% | ||
| Q2 24 | 30.6% | -38.9% | ||
| Q1 24 | 30.3% | -43.8% |
营业利润率HLIRIVN
| Q4 25 | 22.4% | -64.8% | ||
| Q3 25 | 22.9% | -63.1% | ||
| Q2 25 | 14.8% | -85.5% | ||
| Q1 25 | 20.9% | -52.8% | ||
| Q4 24 | 21.5% | -38.1% | ||
| Q3 24 | 22.7% | -133.8% | ||
| Q2 24 | 18.6% | -118.7% | ||
| Q1 24 | 19.7% | -123.3% |
净利率HLIRIVN
| Q4 25 | 16.3% | -63.1% | ||
| Q3 25 | 17.0% | -75.3% | ||
| Q2 25 | 16.1% | -85.7% | ||
| Q1 25 | 18.3% | -44.0% | ||
| Q4 24 | 15.0% | -42.9% | ||
| Q3 24 | 16.3% | -125.9% | ||
| Q2 24 | 17.3% | -125.8% | ||
| Q1 24 | 15.6% | -120.1% |
每股收益（稀释后）HLIRIVN
| Q4 25 | $1.70 | $-0.66 | ||
| Q3 25 | $1.63 | $-0.96 | ||
| Q2 25 | $1.42 | $-0.97 | ||
| Q1 25 | $1.76 | $-0.48 | ||
| Q4 24 | $1.39 | $-0.67 | ||
| Q3 24 | $1.37 | $-1.08 | ||
| Q2 24 | $1.30 | $-1.46 | ||
| Q1 24 | $1.18 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.3B | $4.6B |
| 总资产 | $3.9B | $14.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资HLIRIVN
| Q4 25 | $1.1B | $6.1B | ||
| Q3 25 | $923.6M | $7.1B | ||
| Q2 25 | $793.8M | $7.5B | ||
| Q1 25 | $971.0M | $7.2B | ||
| Q4 24 | $799.3M | $7.7B | ||
| Q3 24 | $691.4M | $6.7B | ||
| Q2 24 | $449.7M | $7.9B | ||
| Q1 24 | $721.2M | $7.9B |
总债务HLIRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益HLIRIVN
| Q4 25 | $2.3B | $4.6B | ||
| Q3 25 | $2.2B | $5.1B | ||
| Q2 25 | $2.2B | $6.1B | ||
| Q1 25 | $2.2B | $6.2B | ||
| Q4 24 | $2.1B | $6.6B | ||
| Q3 24 | $2.0B | $5.9B | ||
| Q2 24 | $1.8B | $6.8B | ||
| Q1 24 | $1.8B | $8.1B |
总资产HLIRIVN
| Q4 25 | $3.9B | $14.9B | ||
| Q3 25 | $3.8B | $15.2B | ||
| Q2 25 | $3.5B | $15.6B | ||
| Q1 25 | $3.8B | $15.5B | ||
| Q4 24 | $3.5B | $15.4B | ||
| Q3 24 | $3.2B | $14.3B | ||
| Q2 24 | $2.9B | $15.4B | ||
| Q1 24 | $3.2B | $15.7B |
负债/权益比HLIRIVN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $217.0M | $-1.1B |
| 自由现金流率自由现金流/营收 | 30.3% | -89.0% |
| 资本支出强度资本支出/营收 | 0.1% | 36.0% |
| 现金转化率经营现金流/净利润 | 1.87× | — |
| 过去12个月自由现金流最近4个季度 | $738.9M | $-2.5B |
8季度趋势，按日历期对齐
经营现金流HLIRIVN
| Q4 25 | $217.7M | $-681.0M | ||
| Q3 25 | $325.0M | $26.0M | ||
| Q2 25 | $-131.6M | $64.0M | ||
| Q1 25 | $358.4M | $-188.0M | ||
| Q4 24 | $265.5M | $1.2B | ||
| Q3 24 | $289.2M | $-876.0M | ||
| Q2 24 | $-64.5M | $-754.0M | ||
| Q1 24 | $225.3M | $-1.3B |
自由现金流HLIRIVN
| Q4 25 | $217.0M | $-1.1B | ||
| Q3 25 | $322.8M | $-421.0M | ||
| Q2 25 | $-144.8M | $-398.0M | ||
| Q1 25 | $343.9M | $-526.0M | ||
| Q4 24 | $261.7M | $856.0M | ||
| Q3 24 | $278.7M | $-1.2B | ||
| Q2 24 | $-75.4M | $-1.0B | ||
| Q1 24 | $213.1M | $-1.5B |
自由现金流率HLIRIVN
| Q4 25 | 30.3% | -89.0% | ||
| Q3 25 | 49.0% | -27.0% | ||
| Q2 25 | -23.9% | -30.5% | ||
| Q1 25 | 51.6% | -42.4% | ||
| Q4 24 | 41.2% | 49.4% | ||
| Q3 24 | 48.5% | -131.9% | ||
| Q2 24 | -14.7% | -89.6% | ||
| Q1 24 | 40.9% | -126.5% |
资本支出强度HLIRIVN
| Q4 25 | 0.1% | 36.0% | ||
| Q3 25 | 0.3% | 28.7% | ||
| Q2 25 | 2.2% | 35.5% | ||
| Q1 25 | 2.2% | 27.3% | ||
| Q4 24 | 0.6% | 18.9% | ||
| Q3 24 | 1.8% | 31.7% | ||
| Q2 24 | 2.1% | 24.4% | ||
| Q1 24 | 2.3% | 21.1% |
现金转化率HLIRIVN
| Q4 25 | 1.87× | — | ||
| Q3 25 | 2.91× | — | ||
| Q2 25 | -1.35× | — | ||
| Q1 25 | 2.94× | — | ||
| Q4 24 | 2.79× | — | ||
| Q3 24 | 3.09× | — | ||
| Q2 24 | -0.73× | — | ||
| Q1 24 | 2.78× | — |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
