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骏利亨德森集团（JHG）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）财务数据对比。点击上方公司名可切换其他公司
骏利亨德森集团的季度营收约是ADVANCED DRAINAGE SYSTEMS, INC.的1.6倍（$1.1B vs $693.4M），骏利亨德森集团净利率更高（35.3% vs 13.5%，领先21.8%），骏利亨德森集团同比增速更快（61.3% vs 0.4%），骏利亨德森集团自由现金流更多（$320.4M vs $183.6M），过去两年骏利亨德森集团的营收复合增速更高（43.9% vs 3.0%）
骏利亨德森集团是英美联手设立的全球资产管理企业，总部位于英国伦敦金融城，旗下以「骏利亨德森投资者」为运营品牌，面向全球个人投资者、中介顾问及机构客户提供多元金融产品与专业资产管理服务。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
JHG vs WMS — 直观对比
营收规模更大
JHG
是对方的1.6倍
$693.4M
营收增速更快
JHG
高出60.9%
0.4%
净利率更高
JHG
高出21.8%
13.5%
自由现金流更多
JHG
多$136.8M
$183.6M
两年增速更快
JHG
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $693.4M |
| 净利润 | $403.2M | $93.6M |
| 毛利率 | — | 37.4% |
| 营业利润率 | 42.7% | 19.7% |
| 净利率 | 35.3% | 13.5% |
| 营收同比 | 61.3% | 0.4% |
| 净利润同比 | 231.0% | 15.3% |
| 每股收益（稀释后） | $2.59 | $1.19 |
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JHGWMS
| Q4 25 | $1.1B | $693.4M | ||
| Q3 25 | $700.4M | $850.4M | ||
| Q2 25 | $633.2M | $829.9M | ||
| Q1 25 | $621.4M | $615.8M | ||
| Q4 24 | $708.3M | $690.5M | ||
| Q3 24 | $624.8M | $782.6M | ||
| Q2 24 | $588.4M | $815.3M | ||
| Q1 24 | $551.7M | $653.8M |
净利润JHGWMS
| Q4 25 | $403.2M | $93.6M | ||
| Q3 25 | $142.1M | $156.0M | ||
| Q2 25 | $149.9M | $143.9M | ||
| Q1 25 | $120.7M | $77.2M | ||
| Q4 24 | $121.8M | $81.2M | ||
| Q3 24 | $27.3M | $130.4M | ||
| Q2 24 | $129.7M | $161.4M | ||
| Q1 24 | $130.1M | $94.8M |
毛利率JHGWMS
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 40.0% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 36.7% | ||
| Q4 24 | — | 35.0% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.5% |
营业利润率JHGWMS
| Q4 25 | 42.7% | 19.7% | ||
| Q3 25 | 24.6% | 26.3% | ||
| Q2 25 | 25.9% | 24.8% | ||
| Q1 25 | 24.7% | 19.0% | ||
| Q4 24 | 27.9% | 18.4% | ||
| Q3 24 | 26.4% | 23.9% | ||
| Q2 24 | 27.9% | 27.7% | ||
| Q1 24 | 21.6% | 20.7% |
净利率JHGWMS
| Q4 25 | 35.3% | 13.5% | ||
| Q3 25 | 20.3% | 18.3% | ||
| Q2 25 | 23.7% | 17.3% | ||
| Q1 25 | 19.4% | 12.5% | ||
| Q4 24 | 17.2% | 11.8% | ||
| Q3 24 | 4.4% | 16.7% | ||
| Q2 24 | 22.0% | 19.8% | ||
| Q1 24 | 23.6% | 14.5% |
每股收益（稀释后）JHGWMS
| Q4 25 | $2.59 | $1.19 | ||
| Q3 25 | $0.92 | $1.99 | ||
| Q2 25 | $0.95 | $1.84 | ||
| Q1 25 | $0.77 | $0.99 | ||
| Q4 24 | $0.77 | $1.04 | ||
| Q3 24 | $0.17 | $1.67 | ||
| Q2 24 | $0.81 | $2.06 | ||
| Q1 24 | $0.81 | $1.22 |
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 | $1.6B | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.1B | $1.9B |
| 总资产 | $8.3B | $4.1B |
| 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JHGWMS
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.4B | $812.9M | ||
| Q2 25 | $1.3B | $638.3M | ||
| Q1 25 | $1.4B | $463.3M | ||
| Q4 24 | $1.6B | $488.9M | ||
| Q3 24 | $1.8B | $613.0M | ||
| Q2 24 | $1.3B | $541.6M | ||
| Q1 24 | $1.1B | $490.2M |
总债务JHGWMS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.3B |
股东权益JHGWMS
| Q4 25 | $5.1B | $1.9B | ||
| Q3 25 | $4.8B | $1.8B | ||
| Q2 25 | $4.8B | $1.7B | ||
| Q1 25 | $4.7B | $1.5B | ||
| Q4 24 | $4.6B | $1.5B | ||
| Q3 24 | $4.6B | $1.4B | ||
| Q2 24 | $4.5B | $1.3B | ||
| Q1 24 | $4.4B | $1.2B |
总资产JHGWMS
| Q4 25 | $8.3B | $4.1B | ||
| Q3 25 | $7.6B | $4.1B | ||
| Q2 25 | $7.5B | $3.9B | ||
| Q1 25 | $7.1B | $3.7B | ||
| Q4 24 | $7.0B | $3.6B | ||
| Q3 24 | $7.3B | $3.5B | ||
| Q2 24 | $6.4B | $3.4B | ||
| Q1 24 | $6.3B | $3.3B |
负债/权益比JHGWMS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.11× |
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 | $322.7M | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $320.4M | $183.6M |
| 自由现金流率自由现金流/营收 | 28.0% | 26.5% |
| 资本支出强度资本支出/营收 | 0.2% | 12.4% |
| 现金转化率经营现金流/净利润 | 0.80× | 2.88× |
| 过去12个月自由现金流最近4个季度 | $710.9M | $577.1M |
8季度趋势，按日历期对齐
经营现金流JHGWMS
| Q4 25 | $322.7M | $269.3M | ||
| Q3 25 | $258.8M | $234.9M | ||
| Q2 25 | $135.2M | $275.0M | ||
| Q1 25 | $2.8M | $41.2M | ||
| Q4 24 | $247.3M | $189.9M | ||
| Q3 24 | $228.5M | $166.9M | ||
| Q2 24 | $223.8M | $183.4M | ||
| Q1 24 | $-5.0M | $17.7M |
自由现金流JHGWMS
| Q4 25 | $320.4M | $183.6M | ||
| Q3 25 | $256.4M | $176.4M | ||
| Q2 25 | $133.2M | $222.4M | ||
| Q1 25 | $900.0K | $-5.3M | ||
| Q4 24 | $243.5M | $135.7M | ||
| Q3 24 | $225.9M | $112.4M | ||
| Q2 24 | $221.9M | $125.7M | ||
| Q1 24 | $-6.8M | $-29.8M |
自由现金流率JHGWMS
| Q4 25 | 28.0% | 26.5% | ||
| Q3 25 | 36.6% | 20.7% | ||
| Q2 25 | 21.0% | 26.8% | ||
| Q1 25 | 0.1% | -0.9% | ||
| Q4 24 | 34.4% | 19.7% | ||
| Q3 24 | 36.2% | 14.4% | ||
| Q2 24 | 37.7% | 15.4% | ||
| Q1 24 | -1.2% | -4.6% |
资本支出强度JHGWMS
| Q4 25 | 0.2% | 12.4% | ||
| Q3 25 | 0.3% | 6.9% | ||
| Q2 25 | 0.3% | 6.3% | ||
| Q1 25 | 0.3% | 7.6% | ||
| Q4 24 | 0.5% | 7.9% | ||
| Q3 24 | 0.4% | 7.0% | ||
| Q2 24 | 0.3% | 7.1% | ||
| Q1 24 | 0.3% | 7.3% |
现金转化率JHGWMS
| Q4 25 | 0.80× | 2.88× | ||
| Q3 25 | 1.82× | 1.51× | ||
| Q2 25 | 0.90× | 1.91× | ||
| Q1 25 | 0.02× | 0.53× | ||
| Q4 24 | 2.03× | 2.34× | ||
| Q3 24 | 8.37× | 1.28× | ||
| Q2 24 | 1.73× | 1.14× | ||
| Q1 24 | -0.04× | 0.19× |
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
JHG
| Investment Advice | $585.2M | 51% |
| Investment Performance | $425.8M | 37% |
| Other | $76.4M | 7% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
