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威达信集团（MRSH）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
RYDER SYSTEM INC的季度营收约是威达信集团的2.0倍（$13.1B vs $6.6B），威达信集团净利率更高（12.4% vs 0.7%，领先11.7%），威达信集团同比增速更快（8.7% vs 1.0%），威达信集团自由现金流更多（$2.1B vs $273.0M），过去两年RYDER SYSTEM INC的营收复合增速更高（102.9% vs 0.9%）
威达信集团是总部位于纽约的全球专业服务企业，核心业务涵盖保险经纪、风险管理、再保险服务、人才管理、投资咨询及管理咨询，旗下拥有达信（Marsh）等四大运营子公司，可提供风险建模、定制风险融资方案等多元专业服务。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
MRSH vs R — 直观对比
营收规模更大
R
是对方的2.0倍
$6.6B
营收增速更快
MRSH
高出7.7%
1.0%
净利率更高
MRSH
高出11.7%
0.7%
自由现金流更多
MRSH
多$1.8B
$273.0M
两年增速更快
R
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.6B | $13.1B |
| 净利润 | $821.0M | $93.0M |
| 毛利率 | — | — |
| 营业利润率 | 18.5% | — |
| 净利率 | 12.4% | 0.7% |
| 营收同比 | 8.7% | 1.0% |
| 净利润同比 | 4.2% | -5.1% |
| 每股收益（稀释后） | $1.68 | $2.34 |
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MRSHR
| Q1 26 | — | $13.1B | ||
| Q4 25 | $6.6B | $3.2B | ||
| Q3 25 | $6.4B | $3.2B | ||
| Q2 25 | $7.0B | $3.2B | ||
| Q1 25 | $7.1B | $3.1B | ||
| Q4 24 | $6.1B | $3.2B | ||
| Q3 24 | $5.7B | $3.2B | ||
| Q2 24 | $6.2B | $3.2B |
净利润MRSHR
| Q1 26 | — | $93.0M | ||
| Q4 25 | $821.0M | $132.0M | ||
| Q3 25 | $747.0M | $138.0M | ||
| Q2 25 | $1.2B | $131.0M | ||
| Q1 25 | $1.4B | $98.0M | ||
| Q4 24 | $788.0M | $135.0M | ||
| Q3 24 | $747.0M | $142.0M | ||
| Q2 24 | $1.1B | $127.0M |
营业利润率MRSHR
| Q1 26 | — | — | ||
| Q4 25 | 18.5% | 5.6% | ||
| Q3 25 | 18.4% | 6.0% | ||
| Q2 25 | 26.2% | 5.8% | ||
| Q1 25 | 28.4% | 4.3% | ||
| Q4 24 | 18.8% | 5.7% | ||
| Q3 24 | 19.4% | 5.9% | ||
| Q2 24 | 26.4% | 5.6% |
净利率MRSHR
| Q1 26 | — | 0.7% | ||
| Q4 25 | 12.4% | 4.2% | ||
| Q3 25 | 11.8% | 4.4% | ||
| Q2 25 | 17.4% | 4.1% | ||
| Q1 25 | 19.6% | 3.1% | ||
| Q4 24 | 13.0% | 4.2% | ||
| Q3 24 | 13.1% | 4.5% | ||
| Q2 24 | 18.1% | 4.0% |
每股收益（稀释后）MRSHR
| Q1 26 | — | $2.34 | ||
| Q4 25 | $1.68 | $3.22 | ||
| Q3 25 | $1.51 | $3.32 | ||
| Q2 25 | $2.45 | $3.13 | ||
| Q1 25 | $2.79 | $2.27 | ||
| Q4 24 | $1.58 | $3.09 | ||
| Q3 24 | $1.51 | $3.24 | ||
| Q2 24 | $2.27 | $2.84 |
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 | $2.7B | $182.0M |
| 总债务越低越好 | $19.6B | — |
| 股东权益账面价值 | $15.3B | $2.9B |
| 总资产 | $58.7B | — |
| 负债/权益比越低杠杆越低 | 1.28× | — |
8季度趋势，按日历期对齐
现金及短期投资MRSHR
| Q1 26 | — | $182.0M | ||
| Q4 25 | $2.7B | $198.0M | ||
| Q3 25 | $2.5B | $189.0M | ||
| Q2 25 | $1.7B | $180.0M | ||
| Q1 25 | $1.6B | $151.0M | ||
| Q4 24 | $2.4B | $154.0M | ||
| Q3 24 | $1.8B | $162.0M | ||
| Q2 24 | $1.7B | $164.0M |
总债务MRSHR
| Q1 26 | — | — | ||
| Q4 25 | $19.6B | $6.8B | ||
| Q3 25 | $19.6B | $7.3B | ||
| Q2 25 | $19.6B | $7.0B | ||
| Q1 25 | $19.5B | $6.7B | ||
| Q4 24 | $19.9B | $6.7B | ||
| Q3 24 | $12.8B | $6.6B | ||
| Q2 24 | $12.8B | $6.5B |
股东权益MRSHR
| Q1 26 | — | $2.9B | ||
| Q4 25 | $15.3B | $3.1B | ||
| Q3 25 | $15.4B | $3.1B | ||
| Q2 25 | $16.0B | $3.1B | ||
| Q1 25 | $14.3B | $3.0B | ||
| Q4 24 | $13.5B | $3.1B | ||
| Q3 24 | $13.9B | $3.1B | ||
| Q2 24 | $13.6B | $3.1B |
总资产MRSHR
| Q1 26 | — | — | ||
| Q4 25 | $58.7B | $16.4B | ||
| Q3 25 | $58.8B | $16.5B | ||
| Q2 25 | $58.6B | $16.5B | ||
| Q1 25 | $57.0B | $16.4B | ||
| Q4 24 | $56.5B | $16.7B | ||
| Q3 24 | $49.9B | $16.5B | ||
| Q2 24 | $48.6B | $16.4B |
负债/权益比MRSHR
| Q1 26 | — | — | ||
| Q4 25 | 1.28× | 2.24× | ||
| Q3 25 | 1.27× | 2.35× | ||
| Q2 25 | 1.23× | 2.27× | ||
| Q1 25 | 1.37× | 2.21× | ||
| Q4 24 | 1.47× | 2.14× | ||
| Q3 24 | 0.93× | 2.17× | ||
| Q2 24 | 0.94× | 2.09× |
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 | $2.2B | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $2.1B | $273.0M |
| 自由现金流率自由现金流/营收 | 31.2% | 2.1% |
| 资本支出强度资本支出/营收 | 1.6% | 3.3% |
| 现金转化率经营现金流/净利润 | 2.63× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $5.0B | $595.0M |
8季度趋势，按日历期对齐
经营现金流MRSHR
| Q1 26 | — | $583.0M | ||
| Q4 25 | $2.2B | $749.0M | ||
| Q3 25 | $2.1B | $442.0M | ||
| Q2 25 | $1.7B | $752.0M | ||
| Q1 25 | $-622.0M | $651.0M | ||
| Q4 24 | $2.0B | $558.0M | ||
| Q3 24 | $1.9B | $629.0M | ||
| Q2 24 | $1.2B | $552.0M |
自由现金流MRSHR
| Q1 26 | — | $273.0M | ||
| Q4 25 | $2.1B | $344.0M | ||
| Q3 25 | $2.0B | $-85.0M | ||
| Q2 25 | $1.6B | $63.0M | ||
| Q1 25 | $-677.0M | $137.0M | ||
| Q4 24 | $1.9B | $-201.0M | ||
| Q3 24 | $1.8B | $30.0M | ||
| Q2 24 | $1.1B | $-87.0M |
自由现金流率MRSHR
| Q1 26 | — | 2.1% | ||
| Q4 25 | 31.2% | 10.8% | ||
| Q3 25 | 31.6% | -2.7% | ||
| Q2 25 | 23.1% | 2.0% | ||
| Q1 25 | -9.6% | 4.4% | ||
| Q4 24 | 31.0% | -6.3% | ||
| Q3 24 | 32.3% | 0.9% | ||
| Q2 24 | 18.2% | -2.7% |
资本支出强度MRSHR
| Q1 26 | — | 3.3% | ||
| Q4 25 | 1.6% | 12.8% | ||
| Q3 25 | 1.1% | 16.6% | ||
| Q2 25 | 0.8% | 21.6% | ||
| Q1 25 | 0.8% | 16.4% | ||
| Q4 24 | 1.3% | 23.8% | ||
| Q3 24 | 1.3% | 18.9% | ||
| Q2 24 | 1.3% | 20.1% |
现金转化率MRSHR
| Q1 26 | — | 6.27× | ||
| Q4 25 | 2.63× | 5.67× | ||
| Q3 25 | 2.79× | 3.20× | ||
| Q2 25 | 1.38× | 5.74× | ||
| Q1 25 | -0.45× | 6.64× | ||
| Q4 24 | 2.48× | 4.13× | ||
| Q3 24 | 2.56× | 4.43× | ||
| Q2 24 | 1.08× | 4.35× |
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
MRSH
| Marsh Insurance Group | $3.6B | 55% |
| Consulting Segment | $2.6B | 40% |
| Guy Carpenter Reinsurance Group | $179.0M | 3% |
| Other | $175.0M | 3% |
R
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