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拉扎德（LAZ）与维蒙特工业（VMI）财务数据对比。点击上方公司名可切换其他公司
维蒙特工业的季度营收约是拉扎德的1.1倍（$1.0B vs $929.4M），维蒙特工业净利率更高（10.5% vs 5.4%，领先5.1%），拉扎德同比增速更快（10.8% vs 6.2%），过去两年拉扎德的营收复合增速更高（8.8% vs -0.5%）
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。
维蒙特工业是美国大型上市制造企业，核心产品包括Valley品牌中心支轴及线性灌溉设备、风电机组支撑结构、照明与交通信号灯杆、钢制公用设施杆塔，在全球农业设备及基建配套领域拥有领先的市场地位和技术优势。
LAZ vs VMI — 直观对比
营收规模更大
VMI
是对方的1.1倍
$929.4M
营收增速更快
LAZ
高出4.6%
6.2%
净利率更高
VMI
高出5.1%
5.4%
两年增速更快
LAZ
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $929.4M | $1.0B |
| 净利润 | $49.9M | $108.0M |
| 毛利率 | — | 30.8% |
| 营业利润率 | 9.1% | 15.1% |
| 净利率 | 5.4% | 10.5% |
| 营收同比 | 10.8% | 6.2% |
| 净利润同比 | -42.2% | 23.8% |
| 每股收益（稀释后） | $0.44 | $5.51 |
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LAZVMI
| Q1 26 | — | $1.0B | ||
| Q4 25 | $929.4M | $1.0B | ||
| Q3 25 | $770.8M | $1.0B | ||
| Q2 25 | $817.2M | $1.1B | ||
| Q1 25 | $669.2M | $969.3M | ||
| Q4 24 | $839.0M | $1.0B | ||
| Q3 24 | $807.4M | $1.0B | ||
| Q2 24 | $708.0M | $1.0B |
净利润LAZVMI
| Q1 26 | — | $108.0M | ||
| Q4 25 | $49.9M | $168.0M | ||
| Q3 25 | $71.2M | $99.0M | ||
| Q2 25 | $55.3M | $-4.0M | ||
| Q1 25 | $60.4M | $87.3M | ||
| Q4 24 | $86.3M | $77.7M | ||
| Q3 24 | $107.9M | $83.1M | ||
| Q2 24 | $49.9M | $99.7M |
毛利率LAZVMI
| Q1 26 | — | 30.8% | ||
| Q4 25 | — | 29.8% | ||
| Q3 25 | — | 30.4% | ||
| Q2 25 | — | 30.6% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 30.8% |
营业利润率LAZVMI
| Q1 26 | — | 15.1% | ||
| Q4 25 | 9.1% | 11.2% | ||
| Q3 25 | 12.3% | 13.5% | ||
| Q2 25 | 11.4% | 2.8% | ||
| Q1 25 | 8.2% | 13.2% | ||
| Q4 24 | 12.8% | 11.6% | ||
| Q3 24 | 20.0% | 12.3% | ||
| Q2 24 | 9.0% | 14.2% |
净利率LAZVMI
| Q1 26 | — | 10.5% | ||
| Q4 25 | 5.4% | 16.2% | ||
| Q3 25 | 9.2% | 9.5% | ||
| Q2 25 | 6.8% | -0.4% | ||
| Q1 25 | 9.0% | 9.0% | ||
| Q4 24 | 10.3% | 7.5% | ||
| Q3 24 | 13.4% | 8.1% | ||
| Q2 24 | 7.0% | 9.6% |
每股收益（稀释后）LAZVMI
| Q1 26 | — | $5.51 | ||
| Q4 25 | $0.44 | $9.02 | ||
| Q3 25 | $0.65 | $4.98 | ||
| Q2 25 | $0.52 | $-1.53 | ||
| Q1 25 | $0.56 | $4.32 | ||
| Q4 24 | $0.82 | $3.85 | ||
| Q3 24 | $1.02 | $4.11 | ||
| Q2 24 | $0.49 | $4.91 |
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 | $160.2M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $873.7M | $1.7B |
| 总资产 | $4.9B | $3.4B |
| 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LAZVMI
| Q1 26 | — | $160.2M | ||
| Q4 25 | $1.5B | $187.1M | ||
| Q3 25 | $1.2B | $226.1M | ||
| Q2 25 | $978.3M | $208.5M | ||
| Q1 25 | $908.6M | $184.4M | ||
| Q4 24 | $1.3B | $164.3M | ||
| Q3 24 | $1.2B | $200.5M | ||
| Q2 24 | $847.6M | $163.1M |
总债务LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $795.7M | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $730.6M | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — |
股东权益LAZVMI
| Q1 26 | — | $1.7B | ||
| Q4 25 | $873.7M | $1.6B | ||
| Q3 25 | $841.5M | $1.6B | ||
| Q2 25 | $741.6M | $1.5B | ||
| Q1 25 | $603.0M | $1.6B | ||
| Q4 24 | $636.2M | $1.5B | ||
| Q3 24 | $624.3M | $1.5B | ||
| Q2 24 | $458.7M | $1.5B |
总资产LAZVMI
| Q1 26 | — | $3.4B | ||
| Q4 25 | $4.9B | $3.4B | ||
| Q3 25 | $4.6B | $3.4B | ||
| Q2 25 | $4.5B | $3.3B | ||
| Q1 25 | $4.2B | $3.4B | ||
| Q4 24 | $4.8B | $3.3B | ||
| Q3 24 | $4.8B | $3.5B | ||
| Q2 24 | $4.5B | $3.5B |
负债/权益比LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | 1.93× | 0.49× | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 2.80× | — | ||
| Q4 24 | 2.65× | 0.47× | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 4.04× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $396.1M | — |
| 自由现金流率自由现金流/营收 | 42.6% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | $399.7M | $111.2M | ||
| Q3 25 | $287.5M | $112.5M | ||
| Q2 25 | $49.7M | $167.6M | ||
| Q1 25 | $-217.5M | $65.1M | ||
| Q4 24 | $362.9M | $193.4M | ||
| Q3 24 | $293.7M | $225.1M | ||
| Q2 24 | $176.2M | $130.8M |
自由现金流LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | $396.1M | $70.4M | ||
| Q3 25 | $284.6M | $70.6M | ||
| Q2 25 | $38.0M | $135.6M | ||
| Q1 25 | $-231.3M | $34.8M | ||
| Q4 24 | $348.0M | $167.8M | ||
| Q3 24 | $276.2M | $204.6M | ||
| Q2 24 | $169.8M | $112.5M |
自由现金流率LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | 42.6% | 6.8% | ||
| Q3 25 | 36.9% | 6.7% | ||
| Q2 25 | 4.6% | 12.9% | ||
| Q1 25 | -34.6% | 3.6% | ||
| Q4 24 | 41.5% | 16.2% | ||
| Q3 24 | 34.2% | 20.1% | ||
| Q2 24 | 24.0% | 10.8% |
资本支出强度LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 3.9% | ||
| Q3 25 | 0.4% | 4.0% | ||
| Q2 25 | 1.4% | 3.0% | ||
| Q1 25 | 2.1% | 3.1% | ||
| Q4 24 | 1.8% | 2.5% | ||
| Q3 24 | 2.2% | 2.0% | ||
| Q2 24 | 0.9% | 1.8% |
现金转化率LAZVMI
| Q1 26 | — | — | ||
| Q4 25 | 8.02× | 0.66× | ||
| Q3 25 | 4.03× | 1.14× | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | -3.60× | 0.75× | ||
| Q4 24 | 4.20× | 2.49× | ||
| Q3 24 | 2.72× | 2.71× | ||
| Q2 24 | 3.53× | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
