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KKR & Co.（KKR）与United Rentals（URI）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United Rentals的1.4倍（$5.7B vs $4.0B），KKR & Co.净利率更高（20.0% vs 13.3%，领先6.6%），KKR & Co.同比增速更快（76.1% vs 7.2%），过去两年United Rentals的营收复合增速更高（114.0% 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。
United Rentals是美国设备租赁企业，2022年占据北美市场约16%的份额。截至2025年，该公司拥有全球规模最大的租赁车队，覆盖约4800类设备，原始设备成本总计约205.9亿美元，在全球共设1625个营业网点，业务覆盖北美、欧洲、澳大利亚及新西兰。
KKR vs URI — 直观对比
营收规模更大
KKR
是对方的1.4倍
$4.0B
营收增速更快
KKR
高出69.0%
7.2%
净利率更高
KKR
高出6.6%
13.3%
两年增速更快
URI
近两年复合增速
-22.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.7B | $4.0B |
| 净利润 | $1.1B | $531.0M |
| 毛利率 | — | 36.9% |
| 营业利润率 | 45.3% | 21.8% |
| 净利率 | 20.0% | 13.3% |
| 营收同比 | 76.1% | 7.2% |
| 净利润同比 | 1.8% | 2.5% |
| 每股收益（稀释后） | — | $8.43 |
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KKRURI
| Q1 26 | — | $4.0B | ||
| Q4 25 | $5.7B | $992.0M | ||
| Q3 25 | $5.5B | $938.0M | ||
| Q2 25 | $5.1B | $872.0M | ||
| Q1 25 | $3.1B | $893.0M | ||
| Q4 24 | $3.3B | $1.0B | ||
| Q3 24 | $4.8B | $874.0M | ||
| Q2 24 | $4.2B | $870.0M |
净利润KKRURI
| Q1 26 | — | $531.0M | ||
| Q4 25 | $1.1B | $653.0M | ||
| Q3 25 | $900.4M | $701.0M | ||
| Q2 25 | $510.1M | $622.0M | ||
| Q1 25 | $-185.9M | $518.0M | ||
| Q4 24 | $1.1B | $689.0M | ||
| Q3 24 | $600.5M | $708.0M | ||
| Q2 24 | $667.9M | $636.0M |
毛利率KKRURI
| Q1 26 | — | 36.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
营业利润率KKRURI
| Q1 26 | — | 21.8% | ||
| Q4 25 | 45.3% | — | ||
| Q3 25 | 39.8% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 24.8% | 90.0% | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 34.3% | — | ||
| Q2 24 | 29.0% | — |
净利率KKRURI
| Q1 26 | — | 13.3% | ||
| Q4 25 | 20.0% | 65.8% | ||
| Q3 25 | 16.3% | 74.7% | ||
| Q2 25 | 10.0% | 71.3% | ||
| Q1 25 | -6.0% | 58.0% | ||
| Q4 24 | 34.5% | 67.6% | ||
| Q3 24 | 12.5% | 81.0% | ||
| Q2 24 | 16.0% | 73.1% |
每股收益（稀释后）KKRURI
| Q1 26 | — | $8.43 | ||
| Q4 25 | — | $10.20 | ||
| Q3 25 | — | $10.91 | ||
| Q2 25 | — | $9.59 | ||
| Q1 25 | — | $7.91 | ||
| Q4 24 | — | $10.41 | ||
| Q3 24 | — | $10.70 | ||
| Q2 24 | — | $9.54 |
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 | — | $156.0M |
| 总债务越低越好 | — | $13.9B |
| 股东权益账面价值 | $30.9B | $9.0B |
| 总资产 | $410.1B | $29.9B |
| 负债/权益比越低杠杆越低 | — | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资KKRURI
| Q1 26 | — | $156.0M | ||
| Q4 25 | — | $459.0M | ||
| Q3 25 | — | $512.0M | ||
| Q2 25 | — | $548.0M | ||
| Q1 25 | — | $542.0M | ||
| Q4 24 | — | $457.0M | ||
| Q3 24 | — | $479.0M | ||
| Q2 24 | — | $467.0M |
总债务KKRURI
| Q1 26 | — | $13.9B | ||
| Q4 25 | — | $12.7B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $11.5B | ||
| Q4 24 | — | $12.2B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $11.5B |
股东权益KKRURI
| Q1 26 | — | $9.0B | ||
| Q4 25 | $30.9B | $9.0B | ||
| Q3 25 | $29.7B | $9.0B | ||
| Q2 25 | $28.2B | $9.0B | ||
| Q1 25 | $27.5B | $8.8B | ||
| Q4 24 | $23.7B | $8.6B | ||
| Q3 24 | $24.1B | $8.6B | ||
| Q2 24 | $21.7B | $8.3B |
总资产KKRURI
| Q1 26 | — | $29.9B | ||
| Q4 25 | $410.1B | $29.9B | ||
| Q3 25 | $398.5B | $30.1B | ||
| Q2 25 | $380.9B | $29.2B | ||
| Q1 25 | $372.4B | $28.1B | ||
| Q4 24 | $360.1B | $28.2B | ||
| Q3 24 | $360.7B | $28.4B | ||
| Q2 24 | $348.5B | $27.6B |
负债/权益比KKRURI
| Q1 26 | — | 1.55× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | 1.40× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | — | 1.42× | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | 1.39× |
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 | $-4.9B | $1.5B |
| 自由现金流经营现金流 - 资本支出 | — | $1.1B |
| 自由现金流率自由现金流/营收 | — | 26.4% |
| 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× | 2.85× |
| 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KKRURI
| Q1 26 | — | $1.5B | ||
| Q4 25 | $-4.9B | $1.3B | ||
| Q3 25 | $2.4B | $1.2B | ||
| Q2 25 | $438.8M | $1.3B | ||
| Q1 25 | $2.5B | $1.4B | ||
| Q4 24 | $-111.7M | $1.0B | ||
| Q3 24 | $1.9B | $1.2B | ||
| Q2 24 | $3.4B | $1.3B |
自由现金流KKRURI
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $471.0M | ||
| Q3 24 | — | $-168.0M | ||
| Q2 24 | — | $-263.0M |
自由现金流率KKRURI
| Q1 26 | — | 26.4% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 46.2% | ||
| Q3 24 | — | -19.2% | ||
| Q2 24 | — | -30.2% |
资本支出强度KKRURI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 56.6% | ||
| Q3 24 | — | 157.0% | ||
| Q2 24 | — | 175.6% |
现金转化率KKRURI
| Q1 26 | — | 2.85× | ||
| Q4 25 | -4.28× | 1.92× | ||
| Q3 25 | 2.65× | 1.68× | ||
| Q2 25 | 0.86× | 2.14× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | -0.10× | 1.52× | ||
| Q3 24 | 3.12× | 1.70× | ||
| Q2 24 | 5.03× | 1.99× |
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% |
URI
| Equipment rentals | $3.4B | 86% |
| Sales of rental equipment | $350.0M | 9% |
| Service and other revenues | $92.0M | 2% |
| Sales of new equipment | $84.0M | 2% |
| Contractor supplies sales | $40.0M | 1% |
