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OLD REPUBLIC INTERNATIONAL CORP（ORI）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
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是利氏兄弟拍卖行的2.0倍（$2.4B vs $1.2B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs 9.1%，领先4.6%），OLD REPUBLIC INTERNATIONAL CORP同比增速更快（6.7% vs 5.4%），过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% vs 6.3%）
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
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。
ORI vs RBA — 直观对比
营收规模更大
ORI
是对方的2.0倍
$1.2B
营收增速更快
ORI
高出1.3%
5.4%
净利率更高
ORI
高出4.6%
9.1%
两年增速更快
ORI
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $1.2B |
| 净利润 | $330.0M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | — | 14.7% |
| 净利率 | 13.8% | 9.1% |
| 营收同比 | 6.7% | 5.4% |
| 净利润同比 | -145.5% | -7.4% |
| 每股收益（稀释后） | — | $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ORIRBA
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $1.2B | ||
| Q3 25 | $2.4B | $1.1B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $2.0B | $1.1B | ||
| Q3 24 | $2.3B | $981.8M | ||
| Q2 24 | $1.9B | $1.1B |
净利润ORIRBA
| Q1 26 | $330.0M | — | ||
| Q4 25 | $206.5M | $109.7M | ||
| Q3 25 | $279.5M | $95.5M | ||
| Q2 25 | $204.4M | $109.8M | ||
| Q1 25 | $245.0M | $113.4M | ||
| Q4 24 | $105.3M | $118.5M | ||
| Q3 24 | $338.9M | $76.1M | ||
| Q2 24 | $91.8M | $111.1M |
营业利润率ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 14.7% | ||
| Q3 25 | 14.6% | 14.5% | ||
| Q2 25 | 11.8% | 15.9% | ||
| Q1 25 | 14.6% | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 18.2% | 15.6% | ||
| Q2 24 | 6.1% | 18.4% |
净利率ORIRBA
| Q1 26 | 13.8% | — | ||
| Q4 25 | 8.6% | 9.1% | ||
| Q3 25 | 11.5% | 8.7% | ||
| Q2 25 | 9.3% | 9.3% | ||
| Q1 25 | 11.6% | 10.2% | ||
| Q4 24 | 5.3% | 10.4% | ||
| Q3 24 | 14.5% | 7.8% | ||
| Q2 24 | 4.9% | 10.1% |
每股收益（稀释后）ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | $0.82 | $0.53 | ||
| Q3 25 | $1.11 | $0.43 | ||
| Q2 25 | $0.81 | $0.53 | ||
| Q1 25 | $0.98 | $0.55 | ||
| Q4 24 | $0.42 | $0.58 | ||
| Q3 24 | $1.32 | $0.36 | ||
| Q2 24 | $0.35 | $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 | — | $2.3B |
| 股东权益账面价值 | $5.9M | $5.6B |
| 总资产 | $29.6M | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资ORIRBA
| 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ORIRBA
| Q1 26 | — | — | ||
| 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ORIRBA
| Q1 26 | $5.9M | — | ||
| Q4 25 | $5.9B | $5.6B | ||
| Q3 25 | $6.4B | $5.5B | ||
| Q2 25 | $6.2B | $5.5B | ||
| Q1 25 | $5.9B | $5.3B | ||
| Q4 24 | $5.6B | $5.2B | ||
| Q3 24 | $6.4B | $5.2B | ||
| Q2 24 | $6.0B | $5.2B |
总资产ORIRBA
| Q1 26 | $29.6M | — | ||
| Q4 25 | $29.9B | $12.1B | ||
| Q3 25 | $30.3B | $12.2B | ||
| Q2 25 | $29.3B | $12.2B | ||
| Q1 25 | $28.0B | $11.9B | ||
| Q4 24 | $27.8B | $11.8B | ||
| Q3 24 | $28.8B | $11.9B | ||
| Q2 24 | $27.5B | $12.1B |
负债/权益比ORIRBA
| Q1 26 | — | — | ||
| 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ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | $234.9M | $255.2M | ||
| Q3 25 | $563.9M | $239.7M | ||
| Q2 25 | $133.8M | $326.5M | ||
| Q1 25 | $231.7M | $156.8M | ||
| Q4 24 | $361.7M | $184.5M | ||
| Q3 24 | $474.8M | $285.4M | ||
| Q2 24 | $236.5M | $337.3M |
自由现金流ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | — | $186.5M | ||
| Q3 25 | — | $188.5M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M |
自由现金流率ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% |
资本支出强度ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% |
现金转化率ORIRBA
| Q1 26 | — | — | ||
| Q4 25 | 1.14× | 2.33× | ||
| Q3 25 | 2.02× | 2.51× | ||
| Q2 25 | 0.65× | 2.97× | ||
| Q1 25 | 0.95× | 1.38× | ||
| Q4 24 | 3.43× | 1.56× | ||
| Q3 24 | 1.40× | 3.75× | ||
| Q2 24 | 2.58× | 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
ORI
| operating | $2.2B | 92% |
| net investment gains | $201.8M | 8% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
