vs
盈透证券（IBKR）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
盈透证券的季度营收约是利氏兄弟拍卖行的1.4倍（$1.7B vs $1.2B），盈透证券净利率更高（70.2% vs 9.1%，领先61.0%），盈透证券同比增速更快（17.0% vs 5.4%），过去两年盈透证券的营收复合增速更高（87.6% vs 6.3%）
盈透证券集团是总部位于美国康涅狄格州格林威治的跨国经纪机构，运营着美国日均营收交易量最高的电子交易平台，2024年日均处理交易达260万笔。作为全球最大的外汇市场经纪商，同时也是头部主经纪商之一，服务商品经纪机构，可提供股票、期权、期货等多品类资产的经纪服务。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
IBKR vs RBA — 直观对比
营收规模更大
IBKR
是对方的1.4倍
$1.2B
营收增速更快
IBKR
高出11.5%
5.4%
净利率更高
IBKR
高出61.0%
9.1%
两年增速更快
IBKR
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $1.2B | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 14.7% |
| 净利率 | 70.2% | 9.1% |
| 营收同比 | 17.0% | 5.4% |
| 净利润同比 | 21.5% | -7.4% |
| 每股收益（稀释后） | $0.59 | $0.53 |
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IBKRRBA
| Q1 26 | $1.7B | — | ||
| Q4 25 | $667.0M | $1.2B | ||
| Q3 25 | $603.0M | $1.1B | ||
| Q2 25 | $578.0M | $1.2B | ||
| Q1 25 | $592.0M | $1.1B | ||
| Q4 24 | $558.0M | $1.1B | ||
| Q3 24 | $507.0M | $981.8M | ||
| Q2 24 | $474.0M | $1.1B |
净利润IBKRRBA
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $109.7M | ||
| Q3 25 | $1.2B | $95.5M | ||
| Q2 25 | $1.0B | $109.8M | ||
| Q1 25 | $964.0M | $113.4M | ||
| Q4 24 | $969.0M | $118.5M | ||
| Q3 24 | $834.0M | $76.1M | ||
| Q2 24 | $809.0M | $111.1M |
营业利润率IBKRRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 14.7% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 18.4% |
净利率IBKRRBA
| Q1 26 | 70.2% | — | ||
| Q4 25 | 180.1% | 9.1% | ||
| Q3 25 | 196.7% | 8.7% | ||
| Q2 25 | 174.0% | 9.3% | ||
| Q1 25 | 162.8% | 10.2% | ||
| Q4 24 | 173.7% | 10.4% | ||
| Q3 24 | 164.5% | 7.8% | ||
| Q2 24 | 170.7% | 10.1% |
每股收益（稀释后）IBKRRBA
| Q1 26 | $0.59 | — | ||
| Q4 25 | $-0.82 | $0.53 | ||
| Q3 25 | $0.59 | $0.43 | ||
| Q2 25 | $0.51 | $0.53 | ||
| Q1 25 | $1.94 | $0.55 | ||
| Q4 24 | $2.00 | $0.58 | ||
| Q3 24 | $1.67 | $0.36 | ||
| Q2 24 | $1.65 | $0.54 |
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 | $5.1B | $531.5M |
| 总债务越低越好 | $12.0M | $2.3B |
| 股东权益账面价值 | $5.6B | $5.6B |
| 总资产 | $218.7B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资IBKRRBA
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.0B | $531.5M | ||
| Q3 25 | $5.1B | $674.7M | ||
| Q2 25 | $4.7B | $710.2M | ||
| Q1 25 | $3.5B | $578.1M | ||
| Q4 24 | $3.6B | $533.9M | ||
| Q3 24 | $3.6B | $650.7M | ||
| Q2 24 | $3.9B | $599.5M |
总债务IBKRRBA
| Q1 26 | $12.0M | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B |
股东权益IBKRRBA
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.4B | $5.6B | ||
| Q3 25 | $5.1B | $5.5B | ||
| Q2 25 | $4.8B | $5.5B | ||
| Q1 25 | $4.5B | $5.3B | ||
| Q4 24 | $4.3B | $5.2B | ||
| Q3 24 | $4.1B | $5.2B | ||
| Q2 24 | $3.9B | $5.2B |
总资产IBKRRBA
| Q1 26 | $218.7B | — | ||
| Q4 25 | $203.2B | $12.1B | ||
| Q3 25 | $200.2B | $12.2B | ||
| Q2 25 | $181.5B | $12.2B | ||
| Q1 25 | $157.7B | $11.9B | ||
| Q4 24 | $150.1B | $11.8B | ||
| Q3 24 | $148.5B | $11.9B | ||
| Q2 24 | $136.6B | $12.1B |
负债/权益比IBKRRBA
| Q1 26 | 0.00× | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 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 | — | $255.2M |
| 自由现金流经营现金流 - 资本支出 | — | $186.5M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流IBKRRBA
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $255.2M | ||
| Q3 25 | $4.5B | $239.7M | ||
| Q2 25 | $7.1B | $326.5M | ||
| Q1 25 | $2.6B | $156.8M | ||
| Q4 24 | $1.8B | $184.5M | ||
| Q3 24 | $3.6B | $285.4M | ||
| Q2 24 | $1.6B | $337.3M |
自由现金流IBKRRBA
| Q1 26 | — | — | ||
| Q4 25 | — | $186.5M | ||
| Q3 25 | — | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M |
自由现金流率IBKRRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% |
资本支出强度IBKRRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% |
现金转化率IBKRRBA
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 2.33× | ||
| Q3 25 | 3.78× | 2.51× | ||
| Q2 25 | 7.10× | 2.97× | ||
| Q1 25 | 2.68× | 1.38× | ||
| Q4 24 | 1.90× | 1.56× | ||
| Q3 24 | 4.29× | 3.75× | ||
| Q2 24 | 2.00× | 3.04× |
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
IBKR
暂无分部数据
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
