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Northern Trust（NTRS）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
Northern Trust的季度营收约是利氏兄弟拍卖行的1.8倍（$2.2B vs $1.2B），Northern Trust净利率更高（23.7% vs 9.1%，领先14.6%），Northern Trust同比增速更快（13.8% vs 5.4%），过去两年Northern Trust的营收复合增速更高（37.8% vs 6.3%）
Northern Trust是总部位于美国伊利诺伊州芝加哥的专业金融服务企业，主要服务对象包括各类企业、机构投资者以及超高净值个人客户，是美国规模最大、持续运营历史最悠久的银行机构之一。截至2025年12月末，其管理资产规模达1.8万亿美元，托管资产规模达14.9万亿美元。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
NTRS vs RBA — 直观对比
营收规模更大
NTRS
是对方的1.8倍
$1.2B
营收增速更快
NTRS
高出8.3%
5.4%
净利率更高
NTRS
高出14.6%
9.1%
两年增速更快
NTRS
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.2B |
| 净利润 | $525.5M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 14.7% |
| 净利率 | 23.7% | 9.1% |
| 营收同比 | 13.8% | 5.4% |
| 净利润同比 | 13.0% | -7.4% |
| 每股收益（稀释后） | $2.71 | $0.53 |
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NTRSRBA
| Q1 26 | $2.2B | — | ||
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.2B | $981.8M | ||
| Q2 24 | $1.2B | $1.1B |
净利润NTRSRBA
| Q1 26 | $525.5M | — | ||
| Q4 25 | $466.0M | $109.7M | ||
| Q3 25 | $457.6M | $95.5M | ||
| Q2 25 | $421.3M | $109.8M | ||
| Q1 25 | $392.0M | $113.4M | ||
| Q4 24 | $455.4M | $118.5M | ||
| Q3 24 | $464.9M | $76.1M | ||
| Q2 24 | $896.1M | $111.1M |
营业利润率NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | 48.5% | 14.7% | ||
| Q3 25 | 49.0% | 14.5% | ||
| Q2 25 | 45.9% | 15.9% | ||
| Q1 25 | 43.0% | 17.1% | ||
| Q4 24 | 48.6% | 18.1% | ||
| Q3 24 | 50.2% | 15.6% | ||
| Q2 24 | — | 18.4% |
净利率NTRSRBA
| Q1 26 | 23.7% | — | ||
| Q4 25 | 35.6% | 9.1% | ||
| Q3 25 | 36.2% | 8.7% | ||
| Q2 25 | 34.2% | 9.3% | ||
| Q1 25 | 32.3% | 10.2% | ||
| Q4 24 | 37.3% | 10.4% | ||
| Q3 24 | 38.9% | 7.8% | ||
| Q2 24 | 76.8% | 10.1% |
每股收益（稀释后）NTRSRBA
| Q1 26 | $2.71 | — | ||
| Q4 25 | $2.42 | $0.53 | ||
| Q3 25 | $2.29 | $0.43 | ||
| Q2 25 | $2.13 | $0.53 | ||
| Q1 25 | $1.90 | $0.55 | ||
| Q4 24 | $2.25 | $0.58 | ||
| Q3 24 | $2.22 | $0.36 | ||
| Q2 24 | $4.34 | $0.54 |
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 | — | $531.5M |
| 总债务越低越好 | $2.9B | $2.3B |
| 股东权益账面价值 | $13.0B | $5.6B |
| 总资产 | $174.6B | $12.1B |
| 负债/权益比越低杠杆越低 | 0.22× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | — | $531.5M | ||
| Q3 25 | — | $674.7M | ||
| Q2 25 | — | $710.2M | ||
| Q1 25 | — | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | — | $650.7M | ||
| Q2 24 | — | $599.5M |
总债务NTRSRBA
| Q1 26 | $2.9B | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B |
股东权益NTRSRBA
| Q1 26 | $13.0B | — | ||
| Q4 25 | $13.0B | $5.6B | ||
| Q3 25 | $13.0B | $5.5B | ||
| Q2 25 | $12.9B | $5.5B | ||
| Q1 25 | $12.9B | $5.3B | ||
| Q4 24 | $12.8B | $5.2B | ||
| Q3 24 | $12.7B | $5.2B | ||
| Q2 24 | $12.7B | $5.2B |
总资产NTRSRBA
| Q1 26 | $174.6B | — | ||
| Q4 25 | $177.1B | $12.1B | ||
| Q3 25 | $170.3B | $12.2B | ||
| Q2 25 | $171.9B | $12.2B | ||
| Q1 25 | $165.1B | $11.9B | ||
| Q4 24 | $155.5B | $11.8B | ||
| Q3 24 | $155.8B | $11.9B | ||
| Q2 24 | $156.8B | $12.1B |
负债/权益比NTRSRBA
| Q1 26 | 0.22× | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× |
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 | — | $255.2M |
| 自由现金流经营现金流 - 资本支出 | — | $186.5M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | — | $719.2M |
8季度趋势，按日历期对齐
经营现金流NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | $388.4M | $255.2M | ||
| Q3 25 | $525.8M | $239.7M | ||
| Q2 25 | $1.9B | $326.5M | ||
| Q1 25 | $2.7B | $156.8M | ||
| Q4 24 | $-2.6B | $184.5M | ||
| Q3 24 | $611.1M | $285.4M | ||
| Q2 24 | $3.0B | $337.3M |
自由现金流NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | $355.6M | $186.5M | ||
| Q3 25 | $509.4M | $188.5M | ||
| Q2 25 | $1.9B | $241.7M | ||
| Q1 25 | $2.7B | $102.5M | ||
| Q4 24 | $-2.7B | $127.9M | ||
| Q3 24 | $585.4M | $248.5M | ||
| Q2 24 | $3.0B | $308.6M |
自由现金流率NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | 27.2% | 15.5% | ||
| Q3 25 | 40.3% | 17.3% | ||
| Q2 25 | 150.8% | 20.4% | ||
| Q1 25 | 225.5% | 9.2% | ||
| Q4 24 | -218.9% | 11.2% | ||
| Q3 24 | 48.9% | 25.3% | ||
| Q2 24 | 254.7% | 28.2% |
资本支出强度NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | 5.7% | ||
| Q3 25 | 1.3% | 4.7% | ||
| Q2 25 | 1.0% | 7.2% | ||
| Q1 25 | 1.0% | 4.9% | ||
| Q4 24 | 3.3% | 5.0% | ||
| Q3 24 | 2.1% | 3.8% | ||
| Q2 24 | 1.8% | 2.6% |
现金转化率NTRSRBA
| Q1 26 | — | — | ||
| Q4 25 | 0.83× | 2.33× | ||
| Q3 25 | 1.15× | 2.51× | ||
| Q2 25 | 4.44× | 2.97× | ||
| Q1 25 | 7.01× | 1.38× | ||
| Q4 24 | -5.79× | 1.56× | ||
| Q3 24 | 1.31× | 3.75× | ||
| Q2 24 | 3.34× | 3.04× |
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
NTRS
| Trust, Investment and Other Servicing Fees | $1.3B | 61% |
| Other | $871.8M | 39% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
