vs
拉扎德（LAZ）与罗致恒富（RHI）财务数据对比。点击上方公司名可切换其他公司
罗致恒富的季度营收约是拉扎德的1.4倍（$1.3B vs $929.4M），拉扎德同比增速更快（10.8% vs -5.8%），拉扎德自由现金流更多（$396.1M vs $170.8M），过去两年拉扎德的营收复合增速更高（8.8% vs -6.1%）
拉扎德公司是一家美国金融咨询与资产管理机构，业务覆盖投资银行、资产管理及其他金融服务，核心客户以机构客户为主。作为全球规模最大的独立投资银行，其主要行政办公室分布于纽约、巴黎及伦敦三地。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
LAZ vs RHI — 直观对比
营收规模更大
RHI
是对方的1.4倍
$929.4M
营收增速更快
LAZ
高出16.6%
-5.8%
自由现金流更多
LAZ
多$225.3M
$170.8M
两年增速更快
LAZ
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.4M | $1.3B |
| 净利润 | $49.9M | — |
| 毛利率 | — | 37.6% |
| 营业利润率 | 9.1% | 1.7% |
| 净利率 | 5.4% | — |
| 营收同比 | 10.8% | -5.8% |
| 净利润同比 | -42.2% | — |
| 每股收益（稀释后） | $0.44 | $0.32 |
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LAZRHI
| Q4 25 | $929.4M | $1.3B | ||
| Q3 25 | $770.8M | $1.4B | ||
| Q2 25 | $817.2M | $1.4B | ||
| Q1 25 | $669.2M | $1.4B | ||
| Q4 24 | $839.0M | $1.4B | ||
| Q3 24 | $807.4M | $1.5B | ||
| Q2 24 | $708.0M | $1.5B | ||
| Q1 24 | $785.5M | $1.5B |
净利润LAZRHI
| Q4 25 | $49.9M | — | ||
| Q3 25 | $71.2M | $42.9M | ||
| Q2 25 | $55.3M | $41.0M | ||
| Q1 25 | $60.4M | $17.4M | ||
| Q4 24 | $86.3M | — | ||
| Q3 24 | $107.9M | $65.5M | ||
| Q2 24 | $49.9M | $68.2M | ||
| Q1 24 | $35.8M | $63.7M |
毛利率LAZRHI
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 37.2% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 36.9% | ||
| Q4 24 | — | 38.8% | ||
| Q3 24 | — | 39.0% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 38.1% |
营业利润率LAZRHI
| Q4 25 | 9.1% | 1.7% | ||
| Q3 25 | 12.3% | 1.0% | ||
| Q2 25 | 11.4% | 0.1% | ||
| Q1 25 | 8.2% | 2.9% | ||
| Q4 24 | 12.8% | 4.7% | ||
| Q3 24 | 20.0% | 4.1% | ||
| Q2 24 | 9.0% | 5.1% | ||
| Q1 24 | 6.9% | 2.8% |
净利率LAZRHI
| Q4 25 | 5.4% | — | ||
| Q3 25 | 9.2% | 3.2% | ||
| Q2 25 | 6.8% | 3.0% | ||
| Q1 25 | 9.0% | 1.3% | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 13.4% | 4.5% | ||
| Q2 24 | 7.0% | 4.6% | ||
| Q1 24 | 4.6% | 4.3% |
每股收益（稀释后）LAZRHI
| Q4 25 | $0.44 | $0.32 | ||
| Q3 25 | $0.65 | $0.43 | ||
| Q2 25 | $0.52 | $0.41 | ||
| Q1 25 | $0.56 | $0.17 | ||
| Q4 24 | $0.82 | $0.53 | ||
| Q3 24 | $1.02 | $0.64 | ||
| Q2 24 | $0.49 | $0.66 | ||
| Q1 24 | $0.35 | $0.61 |
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 | $1.5B | $464.4M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $873.7M | $1.3B |
| 总资产 | $4.9B | $2.9B |
| 负债/权益比越低杠杆越低 | 1.93× | — |
8季度趋势，按日历期对齐
现金及短期投资LAZRHI
| Q4 25 | $1.5B | $464.4M | ||
| Q3 25 | $1.2B | $365.3M | ||
| Q2 25 | $978.3M | $380.5M | ||
| Q1 25 | $908.6M | $342.5M | ||
| Q4 24 | $1.3B | $537.6M | ||
| Q3 24 | $1.2B | $570.5M | ||
| Q2 24 | $847.6M | $547.4M | ||
| Q1 24 | $923.2M | $540.9M |
总债务LAZRHI
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.9B | — |
股东权益LAZRHI
| Q4 25 | $873.7M | $1.3B | ||
| Q3 25 | $841.5M | $1.3B | ||
| Q2 25 | $741.6M | $1.3B | ||
| Q1 25 | $603.0M | $1.3B | ||
| Q4 24 | $636.2M | $1.4B | ||
| Q3 24 | $624.3M | $1.5B | ||
| Q2 24 | $458.7M | $1.5B | ||
| Q1 24 | $392.7M | $1.5B |
总资产LAZRHI
| Q4 25 | $4.9B | $2.9B | ||
| Q3 25 | $4.6B | $2.8B | ||
| Q2 25 | $4.5B | $2.8B | ||
| Q1 25 | $4.2B | $2.7B | ||
| Q4 24 | $4.8B | $2.9B | ||
| Q3 24 | $4.8B | $3.0B | ||
| Q2 24 | $4.5B | $2.9B | ||
| Q1 24 | $4.6B | $2.9B |
负债/权益比LAZRHI
| Q4 25 | 1.93× | — | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 2.80× | — | ||
| Q4 24 | 2.65× | — | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 4.04× | — | ||
| Q1 24 | 4.71× | — |
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 | $399.7M | $182.5M |
| 自由现金流经营现金流 - 资本支出 | $396.1M | $170.8M |
| 自由现金流率自由现金流/营收 | 42.6% | 13.1% |
| 资本支出强度资本支出/营收 | 0.4% | 0.9% |
| 现金转化率经营现金流/净利润 | 8.02× | — |
| 过去12个月自由现金流最近4个季度 | $487.4M | $266.8M |
8季度趋势，按日历期对齐
经营现金流LAZRHI
| Q4 25 | $399.7M | $182.5M | ||
| Q3 25 | $287.5M | $77.4M | ||
| Q2 25 | $49.7M | $119.4M | ||
| Q1 25 | $-217.5M | $-59.3M | ||
| Q4 24 | $362.9M | $154.8M | ||
| Q3 24 | $293.7M | $129.6M | ||
| Q2 24 | $176.2M | $142.0M | ||
| Q1 24 | $-90.0M | $-15.9M |
自由现金流LAZRHI
| Q4 25 | $396.1M | $170.8M | ||
| Q3 25 | $284.6M | $63.6M | ||
| Q2 25 | $38.0M | $104.2M | ||
| Q1 25 | $-231.3M | $-71.7M | ||
| Q4 24 | $348.0M | $140.5M | ||
| Q3 24 | $276.2M | $111.8M | ||
| Q2 24 | $169.8M | $129.6M | ||
| Q1 24 | $-96.6M | $-27.7M |
自由现金流率LAZRHI
| Q4 25 | 42.6% | 13.1% | ||
| Q3 25 | 36.9% | 4.7% | ||
| Q2 25 | 4.6% | 7.6% | ||
| Q1 25 | -34.6% | -5.3% | ||
| Q4 24 | 41.5% | 10.2% | ||
| Q3 24 | 34.2% | 7.6% | ||
| Q2 24 | 24.0% | 8.8% | ||
| Q1 24 | -12.3% | -1.9% |
资本支出强度LAZRHI
| Q4 25 | 0.4% | 0.9% | ||
| Q3 25 | 0.4% | 1.0% | ||
| Q2 25 | 1.4% | 1.1% | ||
| Q1 25 | 2.1% | 0.9% | ||
| Q4 24 | 1.8% | 1.0% | ||
| Q3 24 | 2.2% | 1.2% | ||
| Q2 24 | 0.9% | 0.8% | ||
| Q1 24 | 0.8% | 0.8% |
现金转化率LAZRHI
| Q4 25 | 8.02× | — | ||
| Q3 25 | 4.03× | 1.80× | ||
| Q2 25 | 0.90× | 2.91× | ||
| Q1 25 | -3.60× | -3.42× | ||
| Q4 24 | 4.20× | — | ||
| Q3 24 | 2.72× | 1.98× | ||
| Q2 24 | 3.53× | 2.08× | ||
| Q1 24 | -2.52× | -0.25× |
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
LAZ
| Financial Advisory Segment | $542.3M | 58% |
| Asset Management1 | $347.8M | 37% |
| Incentive Fees | $40.9M | 4% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
