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大都会人寿（MET）与怡安集团（RYAN）财务数据对比。点击上方公司名可切换其他公司
怡安集团的季度营收约是大都会人寿的1.2倍（$738.0M vs $600.0M），大都会人寿净利率更高（134.8% vs 1.1%，领先133.8%），怡安集团同比增速更快（13.6% vs 7.9%），过去两年怡安集团的营收复合增速更高（17.1% vs 2.0%）
大都会人寿（MetLife）是全球规模领先的保险、年金及员工福利服务提供商之一，创立于1868年，业务覆盖超60个国家和地区，服务约9000万客户，2018年位列《财富》美国500强营收排行榜第43位。
怡安集团是一家业务横跨英美两国的专业服务企业，目前主要开展两大板块业务：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块则提供健康保险、退休计划、养老金计划与人才咨询相关服务。
MET vs RYAN — 直观对比
营收规模更大
RYAN
是对方的1.2倍
$600.0M
营收增速更快
RYAN
高出5.7%
7.9%
净利率更高
MET
高出133.8%
1.1%
两年增速更快
RYAN
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $600.0M | $738.0M |
| 净利润 | $809.0M | $8.0M |
| 毛利率 | — | — |
| 营业利润率 | — | 12.4% |
| 净利率 | 134.8% | 1.1% |
| 营收同比 | 7.9% | 13.6% |
| 净利润同比 | -36.3% | -42.0% |
| 每股收益（稀释后） | $1.18 | — |
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METRYAN
| Q4 25 | $600.0M | $738.0M | ||
| Q3 25 | $621.0M | $739.6M | ||
| Q2 25 | $604.0M | $840.9M | ||
| Q1 25 | $611.0M | $676.1M | ||
| Q4 24 | $556.0M | $649.4M | ||
| Q3 24 | $554.0M | $588.1M | ||
| Q2 24 | $558.0M | $680.2M | ||
| Q1 24 | $577.0M | $537.9M |
净利润METRYAN
| Q4 25 | $809.0M | $8.0M | ||
| Q3 25 | $896.0M | $31.1M | ||
| Q2 25 | $729.0M | $52.0M | ||
| Q1 25 | $945.0M | $-27.6M | ||
| Q4 24 | $1.3B | $13.8M | ||
| Q3 24 | $1.3B | $17.6M | ||
| Q2 24 | $946.0M | $46.8M | ||
| Q1 24 | $867.0M | $16.5M |
营业利润率METRYAN
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 15.0% | ||
| Q2 25 | — | 22.7% | ||
| Q1 25 | — | 14.8% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 24.2% | ||
| Q1 24 | — | 13.5% |
净利率METRYAN
| Q4 25 | 134.8% | 1.1% | ||
| Q3 25 | 144.3% | 4.2% | ||
| Q2 25 | 120.7% | 6.2% | ||
| Q1 25 | 154.7% | -4.1% | ||
| Q4 24 | 228.6% | 2.1% | ||
| Q3 24 | 242.2% | 3.0% | ||
| Q2 24 | 169.5% | 6.9% | ||
| Q1 24 | 150.3% | 3.1% |
每股收益（稀释后）METRYAN
| Q4 25 | $1.18 | — | ||
| Q3 25 | $1.22 | — | ||
| Q2 25 | $1.03 | — | ||
| Q1 25 | $1.28 | — | ||
| Q4 24 | $1.75 | — | ||
| Q3 24 | $1.81 | — | ||
| Q2 24 | $1.28 | — | ||
| Q1 24 | $1.10 | — |
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 | $25.6B | $158.3M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $28.4B | $648.1M |
| 总资产 | $745.2B | $10.6B |
| 负债/权益比越低杠杆越低 | — | 5.16× |
8季度趋势，按日历期对齐
现金及短期投资METRYAN
| Q4 25 | $25.6B | $158.3M | ||
| Q3 25 | $26.2B | $153.5M | ||
| Q2 25 | $27.5B | $172.6M | ||
| Q1 25 | $26.9B | $203.5M | ||
| Q4 24 | $25.2B | $540.2M | ||
| Q3 24 | $26.4B | $235.2M | ||
| Q2 24 | $24.6B | $1.7B | ||
| Q1 24 | $24.7B | $1.6B |
总债务METRYAN
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益METRYAN
| Q4 25 | $28.4B | $648.1M | ||
| Q3 25 | $28.9B | $630.5M | ||
| Q2 25 | $27.7B | $610.1M | ||
| Q1 25 | $27.5B | $542.5M | ||
| Q4 24 | $27.4B | $627.7M | ||
| Q3 24 | $30.9B | $632.8M | ||
| Q2 24 | $27.3B | $605.9M | ||
| Q1 24 | $28.5B | $554.4M |
总资产METRYAN
| Q4 25 | $745.2B | $10.6B | ||
| Q3 25 | $719.7B | $9.9B | ||
| Q2 25 | $702.5B | $10.6B | ||
| Q1 25 | $688.3B | $9.9B | ||
| Q4 24 | $677.5B | $9.6B | ||
| Q3 24 | $705.0B | $8.5B | ||
| Q2 24 | $675.7B | $8.3B | ||
| Q1 24 | $677.6B | $7.1B |
负债/权益比METRYAN
| Q4 25 | — | 5.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.22× | ||
| Q3 24 | — | — | ||
| 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 | $7.1B | $263.2M |
| 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 | — | 0.0% |
| 现金转化率经营现金流/净利润 | 8.75× | 32.99× |
| 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METRYAN
| Q4 25 | $7.1B | $263.2M | ||
| Q3 25 | $3.6B | $169.7M | ||
| Q2 25 | $2.2B | $353.6M | ||
| Q1 25 | $4.3B | $-142.8M | ||
| Q4 24 | $4.6B | $259.6M | ||
| Q3 24 | $4.2B | $100.9M | ||
| Q2 24 | $3.5B | $270.8M | ||
| Q1 24 | $2.3B | $-116.5M |
自由现金流METRYAN
| Q4 25 | — | — | ||
| Q3 25 | — | $167.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-143.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率METRYAN
| Q4 25 | — | — | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度METRYAN
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
现金转化率METRYAN
| Q4 25 | 8.75× | 32.99× | ||
| Q3 25 | 3.98× | 5.46× | ||
| Q2 25 | 3.00× | 6.80× | ||
| Q1 25 | 4.51× | — | ||
| Q4 24 | 3.63× | 18.88× | ||
| Q3 24 | 3.11× | 5.74× | ||
| Q2 24 | 3.69× | 5.79× | ||
| Q1 24 | 2.69× | -7.05× |
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
MET
| Other | $165.0M | 28% |
| Prepaidlegalplansandadministrativeonlycontracts | $158.0M | 26% |
| Vision Fee For Service Arrangements | $140.0M | 23% |
| Administrative Service | $76.0M | 13% |
| Distribution Service | $36.0M | 6% |
| Feebasedinvestmentmanagementservices | $25.0M | 4% |
RYAN
| Wholesale Brokerage | $385.7M | 52% |
| Underwriting Management | $268.3M | 36% |
| Binding Authorities | $84.0M | 11% |
