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KKR & Co.（KKR）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
KKR & Co.的季度营收约是皇家加勒比集团的1.3倍（$5.7B vs $4.3B），KKR & Co.净利率更高（20.0% vs 17.9%，领先2.1%），KKR & Co.同比增速更快（76.1% vs 13.2%），过去两年皇家加勒比集团的营收复合增速更高（1.8% vs -22.9%）
KKR（全称Kohlberg Kravis Roberts & Co.）是源自美国的全球知名私募股权投资机构，截至2024年12月31日，已累计完成770笔私募股权投资，对应总企业价值约7900亿美元，资产管理规模达5530亿美元，其中付费资产管理规模为4460亿美元。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
KKR vs RCL — 直观对比
营收规模更大
KKR
是对方的1.3倍
$4.3B
营收增速更快
KKR
高出62.9%
13.2%
净利率更高
KKR
高出2.1%
17.9%
两年增速更快
RCL
近两年复合增速
-22.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.3B |
| 净利润 | $1.1B | $762.0M |
| 毛利率 | — | — |
| 营业利润率 | 45.3% | 21.9% |
| 净利率 | 20.0% | 17.9% |
| 营收同比 | 76.1% | 13.2% |
| 净利润同比 | 1.8% | 36.3% |
| 每股收益（稀释后） | — | $2.76 |
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KKRRCL
| Q1 26 | — | $4.3B | ||
| Q4 25 | $5.7B | $4.3B | ||
| Q3 25 | $5.5B | $5.1B | ||
| Q2 25 | $5.1B | $4.5B | ||
| Q1 25 | $3.1B | $4.0B | ||
| Q4 24 | $3.3B | $3.8B | ||
| Q3 24 | $4.8B | $4.9B | ||
| Q2 24 | $4.2B | $4.1B |
净利润KKRRCL
| Q1 26 | — | $762.0M | ||
| Q4 25 | $1.1B | $753.0M | ||
| Q3 25 | $900.4M | $1.6B | ||
| Q2 25 | $510.1M | $1.2B | ||
| Q1 25 | $-185.9M | $730.0M | ||
| Q4 24 | $1.1B | $552.0M | ||
| Q3 24 | $600.5M | $1.1B | ||
| Q2 24 | $667.9M | $854.0M |
毛利率KKRRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率KKRRCL
| Q1 26 | — | 21.9% | ||
| Q4 25 | 45.3% | 21.9% | ||
| Q3 25 | 39.8% | 33.1% | ||
| Q2 25 | 30.0% | 29.3% | ||
| Q1 25 | 24.8% | 23.6% | ||
| Q4 24 | 50.4% | 16.6% | ||
| Q3 24 | 34.3% | 33.4% | ||
| Q2 24 | 29.0% | 26.7% |
净利率KKRRCL
| Q1 26 | — | 17.9% | ||
| Q4 25 | 20.0% | 17.7% | ||
| Q3 25 | 16.3% | 30.6% | ||
| Q2 25 | 10.0% | 26.7% | ||
| Q1 25 | -6.0% | 18.3% | ||
| Q4 24 | 34.5% | 14.7% | ||
| Q3 24 | 12.5% | 22.7% | ||
| Q2 24 | 16.0% | 20.8% |
每股收益（稀释后）KKRRCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | — | $2.76 | ||
| Q3 25 | — | $5.74 | ||
| Q2 25 | — | $4.41 | ||
| Q1 25 | — | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | — | $4.21 | ||
| Q2 24 | — | $3.11 |
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 | — | $825.0M |
| 总债务越低越好 | — | $21.3B |
| 股东权益账面价值 | $30.9B | $10.2B |
| 总资产 | $410.1B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资KKRRCL
| Q1 26 | — | $825.0M | ||
| Q4 25 | — | $825.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $735.0M | ||
| Q1 25 | — | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | — | $418.0M | ||
| Q2 24 | — | $391.0M |
总债务KKRRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益KKRRCL
| Q1 26 | — | $10.2B | ||
| Q4 25 | $30.9B | $10.0B | ||
| Q3 25 | $29.7B | $10.1B | ||
| Q2 25 | $28.2B | $9.2B | ||
| Q1 25 | $27.5B | $8.0B | ||
| Q4 24 | $23.7B | $7.6B | ||
| Q3 24 | $24.1B | $7.0B | ||
| Q2 24 | $21.7B | $6.0B |
总资产KKRRCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | $410.1B | $41.6B | ||
| Q3 25 | $398.5B | $40.1B | ||
| Q2 25 | $380.9B | $38.5B | ||
| Q1 25 | $372.4B | $37.5B | ||
| Q4 24 | $360.1B | $37.1B | ||
| Q3 24 | $360.7B | $37.1B | ||
| Q2 24 | $348.5B | $37.0B |
负债/权益比KKRRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $-4.9B | $6.5B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | -4.28× | 8.48× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流KKRRCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | $-4.9B | $1.6B | ||
| Q3 25 | $2.4B | $1.5B | ||
| Q2 25 | $438.8M | $1.7B | ||
| Q1 25 | $2.5B | $1.6B | ||
| Q4 24 | $-111.7M | $1.5B | ||
| Q3 24 | $1.9B | $897.0M | ||
| Q2 24 | $3.4B | $1.6B |
自由现金流KKRRCL
| Q1 26 | — | — | ||
| Q4 25 | — | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M |
自由现金流率KKRRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% |
资本支出强度KKRRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% |
现金转化率KKRRCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | -4.28× | 2.16× | ||
| Q3 25 | 2.65× | 0.93× | ||
| Q2 25 | 0.86× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | -0.10× | 2.66× | ||
| Q3 24 | 3.12× | 0.81× | ||
| Q2 24 | 5.03× | 1.84× |
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
KKR
| Insurance Segment | $3.5B | 61% |
| Asset Management1 | $703.7M | 12% |
| Transaction Fee | $512.0M | 9% |
| Transaction And Monitoring Fees | $268.7M | 5% |
| Fee Credit | $230.1M | 4% |
| Other | $201.5M | 4% |
| Fixed Annuity | $77.0M | 1% |
| Asset Management Segment | $56.9M | 1% |
| Monitoring Fee | $53.5M | 1% |
| Investment Advice | $40.6M | 1% |
| Fee Related Performance | $33.6M | 1% |
| Interest Sensitive Life | $21.7M | 0% |
| Incentive Fee | $11.0M | 0% |
RCL
暂无分部数据
