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艾昆纬（IQV）与韦莱韬悦（WTW）财务数据对比。点击上方公司名可切换其他公司
艾昆纬的季度营收约是韦莱韬悦的1.5倍（$4.4B vs $2.9B），韦莱韬悦净利率更高（25.5% vs 11.8%，领先13.7%），艾昆纬同比增速更快（10.3% vs -3.5%），韦莱韬悦自由现金流更多（$708.0M vs $561.0M），过去两年韦莱韬悦的营收复合增速更高（12.0% vs 8.1%）
艾昆纬控股（IQVIA Holdings Inc.）总部位于美国北卡罗来纳州达勒姆，是专注于医疗信息技术与临床研究领域的知名企业。公司依托专业技术优势与行业资源积累，为医疗健康、医药研发等领域客户提供专业解决方案与服务支持，助力产业创新发展。
韦莱韬悦是一家英美联营的跨国咨询、经纪及解决方案服务商，业务覆盖商业保险经纪与风险咨询、员工福利与薪酬咨询、退休与精算服务，同时可为养老基金、机构投资者提供专业投资建议，服务网络覆盖全球多个市场。
IQV vs WTW — 直观对比
营收规模更大
IQV
是对方的1.5倍
$2.9B
营收增速更快
IQV
高出13.8%
-3.5%
净利率更高
WTW
高出13.7%
11.8%
自由现金流更多
WTW
多$147.0M
$561.0M
两年增速更快
WTW
近两年复合增速
8.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.4B | $2.9B |
| 净利润 | $514.0M | $735.0M |
| 毛利率 | — | — |
| 营业利润率 | 14.4% | 35.3% |
| 净利率 | 11.8% | 25.5% |
| 营收同比 | 10.3% | -3.5% |
| 净利润同比 | 17.6% | -41.0% |
| 每股收益（稀释后） | $2.97 | $7.50 |
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IQVWTW
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $4.1B | $2.2B | ||
| Q2 25 | $4.0B | $2.2B | ||
| Q1 25 | $3.8B | $2.2B | ||
| Q4 24 | $4.0B | $3.0B | ||
| Q3 24 | $3.9B | $2.2B | ||
| Q2 24 | $3.8B | $2.2B | ||
| Q1 24 | $3.7B | $2.3B |
净利润IQVWTW
| Q4 25 | $514.0M | $735.0M | ||
| Q3 25 | $331.0M | $304.0M | ||
| Q2 25 | $266.0M | $331.0M | ||
| Q1 25 | $249.0M | $235.0M | ||
| Q4 24 | $437.0M | $1.2B | ||
| Q3 24 | $285.0M | $-1.7B | ||
| Q2 24 | $363.0M | $141.0M | ||
| Q1 24 | $288.0M | $190.0M |
毛利率IQVWTW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 22.6% | — | ||
| Q1 24 | 22.1% | — |
营业利润率IQVWTW
| Q4 25 | 14.4% | 35.3% | ||
| Q3 25 | 13.5% | 18.7% | ||
| Q2 25 | 12.6% | 16.6% | ||
| Q1 25 | 13.0% | 19.8% | ||
| Q4 24 | 15.8% | 30.2% | ||
| Q3 24 | 14.1% | -34.2% | ||
| Q2 24 | 13.6% | 9.6% | ||
| Q1 24 | 13.5% | 12.2% |
净利率IQVWTW
| Q4 25 | 11.8% | 25.5% | ||
| Q3 25 | 8.1% | 13.6% | ||
| Q2 25 | 6.6% | 14.9% | ||
| Q1 25 | 6.5% | 10.8% | ||
| Q4 24 | 11.0% | 41.7% | ||
| Q3 24 | 7.3% | -74.8% | ||
| Q2 24 | 9.5% | 6.4% | ||
| Q1 24 | 7.7% | 8.3% |
每股收益（稀释后）IQVWTW
| Q4 25 | $2.97 | $7.50 | ||
| Q3 25 | $1.93 | $3.11 | ||
| Q2 25 | $1.54 | $3.32 | ||
| Q1 25 | $1.40 | $2.33 | ||
| Q4 24 | $2.41 | $12.29 | ||
| Q3 24 | $1.55 | $-16.44 | ||
| Q2 24 | $1.97 | $1.36 | ||
| Q1 24 | $1.56 | $1.83 |
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 | $2.1B | $3.2B |
| 总债务越低越好 | — | $9.7B |
| 股东权益账面价值 | $6.5B | $8.0B |
| 总资产 | $29.9B | $29.5B |
| 负债/权益比越低杠杆越低 | — | 1.21× |
8季度趋势，按日历期对齐
现金及短期投资IQVWTW
| Q4 25 | $2.1B | $3.2B | ||
| Q3 25 | $2.0B | $1.9B | ||
| Q2 25 | $2.2B | $2.0B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $1.8B | $1.9B | ||
| Q3 24 | $1.7B | $1.4B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $1.6B | $1.9B |
总债务IQVWTW
| Q4 25 | — | $9.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IQVWTW
| Q4 25 | $6.5B | $8.0B | ||
| Q3 25 | $6.2B | $7.7B | ||
| Q2 25 | $5.8B | $8.1B | ||
| Q1 25 | $6.0B | $8.1B | ||
| Q4 24 | $6.1B | $7.9B | ||
| Q3 24 | $7.0B | $7.5B | ||
| Q2 24 | $6.7B | $9.3B | ||
| Q1 24 | $6.3B | $9.5B |
总资产IQVWTW
| Q4 25 | $29.9B | $29.5B | ||
| Q3 25 | $28.7B | $27.4B | ||
| Q2 25 | $28.6B | $28.5B | ||
| Q1 25 | $27.3B | $28.1B | ||
| Q4 24 | $26.9B | $27.7B | ||
| Q3 24 | $27.2B | $27.2B | ||
| Q2 24 | $26.4B | $29.6B | ||
| Q1 24 | $26.6B | $30.2B |
负债/权益比IQVWTW
| Q4 25 | — | 1.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $735.0M | $771.0M |
| 自由现金流经营现金流 - 资本支出 | $561.0M | $708.0M |
| 自由现金流率自由现金流/营收 | 12.9% | 24.6% |
| 资本支出强度资本支出/营收 | 4.0% | 2.2% |
| 现金转化率经营现金流/净利润 | 1.43× | 1.05× |
| 过去12个月自由现金流最近4个季度 | $2.1B | $1.5B |
8季度趋势，按日历期对齐
经营现金流IQVWTW
| Q4 25 | $735.0M | $771.0M | ||
| Q3 25 | $908.0M | $678.0M | ||
| Q2 25 | $443.0M | $361.0M | ||
| Q1 25 | $568.0M | $-35.0M | ||
| Q4 24 | $885.0M | $599.0M | ||
| Q3 24 | $721.0M | $482.0M | ||
| Q2 24 | $588.0M | $407.0M | ||
| Q1 24 | $522.0M | $24.0M |
自由现金流IQVWTW
| Q4 25 | $561.0M | $708.0M | ||
| Q3 25 | $772.0M | $621.0M | ||
| Q2 25 | $292.0M | $303.0M | ||
| Q1 25 | $426.0M | $-86.0M | ||
| Q4 24 | $721.0M | $543.0M | ||
| Q3 24 | $571.0M | $419.0M | ||
| Q2 24 | $445.0M | $341.0M | ||
| Q1 24 | $377.0M | $-36.0M |
自由现金流率IQVWTW
| Q4 25 | 12.9% | 24.6% | ||
| Q3 25 | 18.8% | 27.7% | ||
| Q2 25 | 7.3% | 13.7% | ||
| Q1 25 | 11.1% | -3.9% | ||
| Q4 24 | 18.2% | 18.2% | ||
| Q3 24 | 14.7% | 18.7% | ||
| Q2 24 | 11.7% | 15.4% | ||
| Q1 24 | 10.1% | -1.6% |
资本支出强度IQVWTW
| Q4 25 | 4.0% | 2.2% | ||
| Q3 25 | 3.3% | 2.5% | ||
| Q2 25 | 3.8% | 2.6% | ||
| Q1 25 | 3.7% | 2.3% | ||
| Q4 24 | 4.1% | 1.9% | ||
| Q3 24 | 3.9% | 2.8% | ||
| Q2 24 | 3.7% | 3.0% | ||
| Q1 24 | 3.9% | 2.6% |
现金转化率IQVWTW
| Q4 25 | 1.43× | 1.05× | ||
| Q3 25 | 2.74× | 2.23× | ||
| Q2 25 | 1.67× | 1.09× | ||
| Q1 25 | 2.28× | -0.15× | ||
| Q4 24 | 2.03× | 0.48× | ||
| Q3 24 | 2.53× | — | ||
| Q2 24 | 1.62× | 2.89× | ||
| Q1 24 | 1.81× | 0.13× |
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
IQV
暂无分部数据
WTW
| Health Wealth And Career | $1.7B | 58% |
| GB | $566.0M | 20% |
| Broking | $465.0M | 16% |
| Other | $113.0M | 4% |
| December Thirty One Two Thousand And Twenty Four | $67.0M | 2% |
| IE | $38.0M | 1% |
