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OLD REPUBLIC INTERNATIONAL CORP（ORI）与Wayfair Inc.（W）财务数据对比。点击上方公司名可切换其他公司
Wayfair Inc.的季度营收约是OLD REPUBLIC INTERNATIONAL CORP的1.4倍（$3.3B vs $2.4B），OLD REPUBLIC INTERNATIONAL CORP净利率更高（13.8% vs -3.5%，领先17.2%），Wayfair Inc.同比增速更快（6.9% vs 6.7%），过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% vs 10.6%）
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。
Wayfair Inc.是总部位于美国马萨诸塞州波士顿的电商企业，2002年成立，前身为CSN Stores，专注于家具及家居用品线上销售。目前平台提供来自全球11000余家供应商的1400万款商品，业务遍及北美、加拿大、德国、爱尔兰、中国、英国等国家和地区。
ORI vs W — 直观对比
营收规模更大
W
是对方的1.4倍
$2.4B
营收增速更快
W
高出0.2%
6.7%
净利率更高
ORI
高出17.2%
-3.5%
两年增速更快
ORI
近两年复合增速
10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $3.3B |
| 净利润 | $330.0M | $-116.0M |
| 毛利率 | — | 30.3% |
| 营业利润率 | — | 2.5% |
| 净利率 | 13.8% | -3.5% |
| 营收同比 | 6.7% | 6.9% |
| 净利润同比 | 34.7% | 9.4% |
| 每股收益（稀释后） | — | $-0.90 |
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ORIW
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $3.3B | ||
| Q3 25 | $2.4B | $3.1B | ||
| Q2 25 | $2.2B | $3.3B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.0B | $3.1B | ||
| Q3 24 | $2.3B | $2.9B | ||
| Q2 24 | $1.9B | $3.1B |
净利润ORIW
| Q1 26 | $330.0M | — | ||
| Q4 25 | $206.5M | $-116.0M | ||
| Q3 25 | $279.5M | $-99.0M | ||
| Q2 25 | $204.4M | $15.0M | ||
| Q1 25 | $245.0M | $-113.0M | ||
| Q4 24 | $105.3M | $-128.0M | ||
| Q3 24 | $338.9M | $-74.0M | ||
| Q2 24 | $91.8M | $-42.0M |
毛利率ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | 30.3% | ||
| Q3 25 | — | 30.0% | ||
| Q2 25 | — | 30.1% | ||
| Q1 25 | — | 30.7% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | — | 30.2% |
营业利润率ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | 14.6% | 1.2% | ||
| Q2 25 | 11.8% | 0.5% | ||
| Q1 25 | 14.6% | -4.5% | ||
| Q4 24 | — | -3.7% | ||
| Q3 24 | 18.2% | -2.6% | ||
| Q2 24 | 6.1% | -1.1% |
净利率ORIW
| Q1 26 | 13.8% | — | ||
| Q4 25 | 8.6% | -3.5% | ||
| Q3 25 | 11.5% | -3.2% | ||
| Q2 25 | 9.3% | 0.5% | ||
| Q1 25 | 11.6% | -4.1% | ||
| Q4 24 | 5.3% | -4.1% | ||
| Q3 24 | 14.5% | -2.6% | ||
| Q2 24 | 4.9% | -1.3% |
每股收益（稀释后）ORIW
| Q1 26 | — | — | ||
| Q4 25 | $0.82 | $-0.90 | ||
| Q3 25 | $1.11 | $-0.76 | ||
| Q2 25 | $0.81 | $0.11 | ||
| Q1 25 | $0.98 | $-0.89 | ||
| Q4 24 | $0.42 | $-1.01 | ||
| Q3 24 | $1.32 | $-0.60 | ||
| Q2 24 | $0.35 | $-0.34 |
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 |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $5.9M | $-2.8B |
| 总资产 | $29.6M | $3.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
总债务ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | — | $3.2B |
股东权益ORIW
| Q1 26 | $5.9M | — | ||
| Q4 25 | $5.9B | $-2.8B | ||
| Q3 25 | $6.4B | $-2.8B | ||
| Q2 25 | $6.2B | $-2.7B | ||
| Q1 25 | $5.9B | $-2.8B | ||
| Q4 24 | $5.6B | $-2.8B | ||
| Q3 24 | $6.4B | $-2.7B | ||
| Q2 24 | $6.0B | $-2.8B |
总资产ORIW
| Q1 26 | $29.6M | — | ||
| Q4 25 | $29.9B | $3.4B | ||
| Q3 25 | $30.3B | $3.1B | ||
| Q2 25 | $29.3B | $3.3B | ||
| Q1 25 | $28.0B | $3.4B | ||
| Q4 24 | $27.8B | $3.5B | ||
| Q3 24 | $28.8B | $3.4B | ||
| Q2 24 | $27.5B | $3.4B |
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 | — | $202.0M |
| 自由现金流经营现金流 - 资本支出 | — | $177.0M |
| 自由现金流率自由现金流/营收 | — | 5.3% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $464.0M |
8季度趋势，按日历期对齐
经营现金流ORIW
| Q1 26 | — | — | ||
| Q4 25 | $234.9M | $202.0M | ||
| Q3 25 | $563.9M | $155.0M | ||
| Q2 25 | $133.8M | $273.0M | ||
| Q1 25 | $231.7M | $-96.0M | ||
| Q4 24 | $361.7M | $162.0M | ||
| Q3 24 | $474.8M | $49.0M | ||
| Q2 24 | $236.5M | $245.0M |
自由现金流ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | $177.0M | ||
| Q3 25 | — | $128.0M | ||
| Q2 25 | — | $260.0M | ||
| Q1 25 | — | $-101.0M | ||
| Q4 24 | — | $142.0M | ||
| Q3 24 | — | $32.0M | ||
| Q2 24 | — | $222.0M |
自由现金流率ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | -3.7% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 7.1% |
资本支出强度ORIW
| Q1 26 | — | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.7% |
现金转化率ORIW
| Q1 26 | — | — | ||
| Q4 25 | 1.14× | — | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 0.65× | 18.20× | ||
| Q1 25 | 0.95× | — | ||
| Q4 24 | 3.43× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 2.58× | — |
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% |
| Other | $201.8M | 8% |
W
| US Segment | $2.9B | 88% |
| International Segment | $395.0M | 12% |
