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仲量联行（JLL）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
仲量联行的季度营收约是Smurfit Westrock的1.0倍（$7.6B vs $7.6B），仲量联行净利率更高（5.3% vs 1.3%，领先4.0%），仲量联行同比增速更快（11.7% vs 0.5%），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 21.9%）
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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
JLL vs SW — 直观对比
营收规模更大
JLL
是对方的1.0倍
$7.6B
营收增速更快
JLL
高出11.2%
0.5%
净利率更高
JLL
高出4.0%
1.3%
两年增速更快
SW
近两年复合增速
21.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $7.6B |
| 净利润 | $401.8M | $97.0M |
| 毛利率 | — | 18.2% |
| 营业利润率 | 6.7% | 5.1% |
| 净利率 | 5.3% | 1.3% |
| 营收同比 | 11.7% | 0.5% |
| 净利润同比 | 66.6% | -33.6% |
| 每股收益（稀释后） | $8.33 | $0.18 |
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JLLSW
| Q4 25 | $7.6B | $7.6B | ||
| Q3 25 | $6.5B | $8.0B | ||
| Q2 25 | $6.3B | $7.9B | ||
| Q1 25 | $5.7B | $7.7B | ||
| Q4 24 | $6.8B | $7.5B | ||
| Q3 24 | $5.9B | $7.7B | ||
| Q2 24 | $5.6B | $3.0B | ||
| Q1 24 | $5.1B | $2.9B |
净利润JLLSW
| Q4 25 | $401.8M | $97.0M | ||
| Q3 25 | $222.4M | $246.0M | ||
| Q2 25 | $110.5M | $-28.0M | ||
| Q1 25 | $57.5M | $384.0M | ||
| Q4 24 | $241.2M | $146.0M | ||
| Q3 24 | $155.1M | $-150.0M | ||
| Q2 24 | $84.4M | $132.0M | ||
| Q1 24 | $66.1M | $191.0M |
毛利率JLLSW
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% | ||
| Q1 24 | — | 24.2% |
营业利润率JLLSW
| Q4 25 | 6.7% | 5.1% | ||
| Q3 25 | 4.2% | 6.6% | ||
| Q2 25 | 3.2% | 3.2% | ||
| Q1 25 | 2.1% | 7.2% | ||
| Q4 24 | 5.5% | 5.3% | ||
| Q3 24 | 3.9% | 0.7% | ||
| Q2 24 | 2.7% | 8.2% | ||
| Q1 24 | 2.2% | 10.5% |
净利率JLLSW
| Q4 25 | 5.3% | 1.3% | ||
| Q3 25 | 3.4% | 3.1% | ||
| Q2 25 | 1.8% | -0.4% | ||
| Q1 25 | 1.0% | 5.0% | ||
| Q4 24 | 3.5% | 1.9% | ||
| Q3 24 | 2.6% | -2.0% | ||
| Q2 24 | 1.5% | 4.4% | ||
| Q1 24 | 1.3% | 6.5% |
每股收益（稀释后）JLLSW
| Q4 25 | $8.33 | $0.18 | ||
| Q3 25 | $4.61 | $0.47 | ||
| Q2 25 | $2.32 | $-0.05 | ||
| Q1 25 | $1.14 | $0.73 | ||
| Q4 24 | $4.98 | $-0.12 | ||
| Q3 24 | $3.20 | $-0.30 | ||
| Q2 24 | $1.75 | $0.51 | ||
| Q1 24 | $1.37 | $0.73 |
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 | $892.0M |
| 总债务越低越好 | — | $13.4B |
| 股东权益账面价值 | $7.5B | $18.3B |
| 总资产 | $17.8B | $45.2B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资JLLSW
| Q4 25 | $599.1M | $892.0M | ||
| Q3 25 | $428.9M | $851.0M | ||
| Q2 25 | $401.4M | $778.0M | ||
| Q1 25 | $432.4M | $797.0M | ||
| Q4 24 | $416.3M | $855.0M | ||
| Q3 24 | $437.8M | — | ||
| Q2 24 | $424.4M | $26.8K | ||
| Q1 24 | $396.7M | $108 |
总债务JLLSW
| Q4 25 | — | $13.4B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $13.3B | ||
| Q1 25 | — | $12.9B | ||
| Q4 24 | — | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益JLLSW
| Q4 25 | $7.5B | $18.3B | ||
| Q3 25 | $7.2B | $18.4B | ||
| Q2 25 | $7.0B | $18.3B | ||
| Q1 25 | $6.8B | $17.9B | ||
| Q4 24 | $6.8B | $17.4B | ||
| Q3 24 | $6.6B | $18.0B | ||
| Q2 24 | $6.4B | $14.5K | ||
| Q1 24 | $6.3B | $108 |
总资产JLLSW
| Q4 25 | $17.8B | $45.2B | ||
| Q3 25 | $17.2B | $45.6B | ||
| Q2 25 | $17.3B | $45.7B | ||
| Q1 25 | $16.6B | $44.6B | ||
| Q4 24 | $16.8B | $43.8B | ||
| Q3 24 | $17.8B | $45.0B | ||
| Q2 24 | $15.9B | $26.8K | ||
| Q1 24 | $15.5B | $108 |
负债/权益比JLLSW
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| 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 | $1.0B | $1.2B |
| 自由现金流经营现金流 - 资本支出 | — | $612.0M |
| 自由现金流率自由现金流/营收 | — | 8.1% |
| 资本支出强度资本支出/营收 | — | 7.7% |
| 现金转化率经营现金流/净利润 | 2.52× | 12.32× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流JLLSW
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $617.1M | $1.1B | ||
| Q2 25 | $332.8M | $829.0M | ||
| Q1 25 | $-767.6M | $235.0M | ||
| Q4 24 | $927.3M | $781.0M | ||
| Q3 24 | $261.6M | $320.0M | ||
| Q2 24 | $273.9M | $340.0M | ||
| Q1 24 | $-677.5M | $42.0M |
自由现金流JLLSW
| Q4 25 | — | $612.0M | ||
| Q3 25 | — | $523.0M | ||
| Q2 25 | — | $307.0M | ||
| Q1 25 | — | $-242.0M | ||
| Q4 24 | — | $212.0M | ||
| Q3 24 | — | $-192.0M | ||
| Q2 24 | — | $163.0M | ||
| Q1 24 | — | $-166.0M |
自由现金流率JLLSW
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | -3.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | -2.5% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | -5.7% |
资本支出强度JLLSW
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 6.0% | ||
| Q1 24 | — | 7.1% |
现金转化率JLLSW
| Q4 25 | 2.52× | 12.32× | ||
| Q3 25 | 2.77× | 4.61× | ||
| Q2 25 | 3.01× | — | ||
| Q1 25 | -13.35× | 0.61× | ||
| Q4 24 | 3.84× | 5.35× | ||
| Q3 24 | 1.69× | — | ||
| Q2 24 | 3.25× | 2.58× | ||
| Q1 24 | -10.25× | 0.22× |
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% |
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
