vs
仲量联行（JLL）与林德（LIN）财务数据对比。点击上方公司名可切换其他公司
林德的季度营收约是仲量联行的1.2倍（$8.8B vs $7.6B），林德净利率更高（17.5% vs 5.3%，领先12.2%），仲量联行同比增速更快（11.7% vs 5.8%），过去两年仲量联行的营收复合增速更高（21.9% vs 4.0%）
仲量联行（JLL）是总部位于美国芝加哥的全球知名房地产服务企业，位列《财富》世界500强第188位，在80个国家设有办事处，面向机构投资者、散户投资者及高净值人群提供全球投资管理服务，同时通过JLL Technologies推出科技产品，旗下PropTech基金JLL Spark主营地产科技领域风险投资。
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
JLL vs LIN — 直观对比
营收规模更大
LIN
是对方的1.2倍
$7.6B
营收增速更快
JLL
高出5.9%
5.8%
净利率更高
LIN
高出12.2%
5.3%
两年增速更快
JLL
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $8.8B |
| 净利润 | $401.8M | $1.5B |
| 毛利率 | — | — |
| 营业利润率 | 6.7% | 23.0% |
| 净利率 | 5.3% | 17.5% |
| 营收同比 | 11.7% | 5.8% |
| 净利润同比 | 66.6% | -11.3% |
| 每股收益（稀释后） | $8.33 | $3.28 |
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JLLLIN
| Q4 25 | $7.6B | $8.8B | ||
| Q3 25 | $6.5B | $8.6B | ||
| Q2 25 | $6.3B | $8.5B | ||
| Q1 25 | $5.7B | $8.1B | ||
| Q4 24 | $6.8B | $8.3B | ||
| Q3 24 | $5.9B | $8.4B | ||
| Q2 24 | $5.6B | $8.3B | ||
| Q1 24 | $5.1B | $8.1B |
净利润JLLLIN
| Q4 25 | $401.8M | $1.5B | ||
| Q3 25 | $222.4M | $1.9B | ||
| Q2 25 | $110.5M | $1.8B | ||
| Q1 25 | $57.5M | $1.7B | ||
| Q4 24 | $241.2M | $1.7B | ||
| Q3 24 | $155.1M | $1.6B | ||
| Q2 24 | $84.4M | $1.7B | ||
| Q1 24 | $66.1M | $1.6B |
营业利润率JLLLIN
| Q4 25 | 6.7% | 23.0% | ||
| Q3 25 | 4.2% | 27.5% | ||
| Q2 25 | 3.2% | 27.7% | ||
| Q1 25 | 2.1% | 26.9% | ||
| Q4 24 | 5.5% | 27.4% | ||
| Q3 24 | 3.9% | 25.0% | ||
| Q2 24 | 2.7% | 26.4% | ||
| Q1 24 | 2.2% | 25.9% |
净利率JLLLIN
| Q4 25 | 5.3% | 17.5% | ||
| Q3 25 | 3.4% | 22.4% | ||
| Q2 25 | 1.8% | 20.8% | ||
| Q1 25 | 1.0% | 20.6% | ||
| Q4 24 | 3.5% | 20.8% | ||
| Q3 24 | 2.6% | 18.5% | ||
| Q2 24 | 1.5% | 20.1% | ||
| Q1 24 | 1.3% | 20.1% |
每股收益（稀释后）JLLLIN
| Q4 25 | $8.33 | $3.28 | ||
| Q3 25 | $4.61 | $4.09 | ||
| Q2 25 | $2.32 | $3.73 | ||
| Q1 25 | $1.14 | $3.51 | ||
| Q4 24 | $4.98 | $3.61 | ||
| Q3 24 | $3.20 | $3.22 | ||
| Q2 24 | $1.75 | $3.44 | ||
| Q1 24 | $1.37 | $3.35 |
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 | $599.1M | $5.1B |
| 总债务越低越好 | — | $20.7B |
| 股东权益账面价值 | $7.5B | $38.2B |
| 总资产 | $17.8B | $86.8B |
| 负债/权益比越低杠杆越低 | — | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资JLLLIN
| Q4 25 | $599.1M | $5.1B | ||
| Q3 25 | $428.9M | $4.5B | ||
| Q2 25 | $401.4M | $4.8B | ||
| Q1 25 | $432.4M | $5.3B | ||
| Q4 24 | $416.3M | $4.8B | ||
| Q3 24 | $437.8M | $5.2B | ||
| Q2 24 | $424.4M | $4.6B | ||
| Q1 24 | $396.7M | $4.8B |
总债务JLLLIN
| Q4 25 | — | $20.7B | ||
| Q3 25 | — | $18.6B | ||
| Q2 25 | — | $19.7B | ||
| Q1 25 | — | $17.6B | ||
| Q4 24 | — | $15.3B | ||
| Q3 24 | — | $17.5B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $15.2B |
股东权益JLLLIN
| Q4 25 | $7.5B | $38.2B | ||
| Q3 25 | $7.2B | $38.6B | ||
| Q2 25 | $7.0B | $38.5B | ||
| Q1 25 | $6.8B | $38.0B | ||
| Q4 24 | $6.8B | $38.1B | ||
| Q3 24 | $6.6B | $39.2B | ||
| Q2 24 | $6.4B | $38.2B | ||
| Q1 24 | $6.3B | $38.8B |
总资产JLLLIN
| Q4 25 | $17.8B | $86.8B | ||
| Q3 25 | $17.2B | $86.0B | ||
| Q2 25 | $17.3B | $86.1B | ||
| Q1 25 | $16.6B | $82.7B | ||
| Q4 24 | $16.8B | $80.1B | ||
| Q3 24 | $17.8B | $82.5B | ||
| Q2 24 | $15.9B | $80.2B | ||
| Q1 24 | $15.5B | $80.3B |
负债/权益比JLLLIN
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.48× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 0.40× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | 0.44× | ||
| Q1 24 | — | 0.39× |
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 | $1.0B | $3.0B |
| 自由现金流经营现金流 - 资本支出 | — | $1.6B |
| 自由现金流率自由现金流/营收 | — | 17.9% |
| 资本支出强度资本支出/营收 | — | 16.6% |
| 现金转化率经营现金流/净利润 | 2.52× | 1.98× |
| 过去12个月自由现金流最近4个季度 | — | $5.1B |
8季度趋势，按日历期对齐
经营现金流JLLLIN
| Q4 25 | $1.0B | $3.0B | ||
| Q3 25 | $617.1M | $2.9B | ||
| Q2 25 | $332.8M | $2.2B | ||
| Q1 25 | $-767.6M | $2.2B | ||
| Q4 24 | $927.3M | $2.8B | ||
| Q3 24 | $261.6M | $2.7B | ||
| Q2 24 | $273.9M | $1.9B | ||
| Q1 24 | $-677.5M | $2.0B |
自由现金流JLLLIN
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $954.0M | ||
| Q1 25 | — | $891.0M | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $796.0M | ||
| Q1 24 | — | $906.0M |
自由现金流率JLLLIN
| Q4 25 | — | 17.9% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 11.0% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 9.6% | ||
| Q1 24 | — | 11.2% |
资本支出强度JLLLIN
| Q4 25 | — | 16.6% | ||
| Q3 25 | — | 14.8% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | 15.7% | ||
| Q4 24 | — | 15.1% | ||
| Q3 24 | — | 12.8% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | — | 12.9% |
现金转化率JLLLIN
| Q4 25 | 2.52× | 1.98× | ||
| Q3 25 | 2.77× | 1.53× | ||
| Q2 25 | 3.01× | 1.25× | ||
| Q1 25 | -13.35× | 1.29× | ||
| Q4 24 | 3.84× | 1.63× | ||
| Q3 24 | 1.69× | 1.76× | ||
| Q2 24 | 3.25× | 1.16× | ||
| Q1 24 | -10.25× | 1.20× |
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
JLL
| Workplace Management | $3.8B | 50% |
| Project Management | $1.1B | 15% |
| Leasing Advisory | $1.0B | 13% |
| Leasing | $964.9M | 13% |
| Property Management | $480.2M | 6% |
| Portfolio Services And Other | $152.1M | 2% |
| Advisory Fees | $98.1M | 1% |
| Loan Servicing | $42.2M | 1% |
| Transaction Fees Other | $16.4M | 0% |
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
