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BLUE OWL CAPITAL INC.（OWL）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
利氏兄弟拍卖行的季度营收约是BLUE OWL CAPITAL INC.的1.6倍（$1.2B vs $755.6M），利氏兄弟拍卖行净利率更高（9.1% vs 6.3%，领先2.8%），BLUE OWL CAPITAL INC.同比增速更快（19.7% vs 5.4%），BLUE OWL CAPITAL INC.自由现金流更多（$359.1M vs $186.5M），过去两年BLUE OWL CAPITAL INC.的营收复合增速更高（21.3% vs 6.3%）
Blue Owl Capital Inc.是美国另类投资资产管理机构，于纽约证券交易所挂牌上市，股票代码为OWL，总部设在纽约市，在伦敦、迪拜、中国香港等全球多地设有办事处，专注为各类客户提供专业的另类资产管理解决方案。
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。
OWL vs RBA — 直观对比
营收规模更大
RBA
是对方的1.6倍
$755.6M
营收增速更快
OWL
高出14.3%
5.4%
净利率更高
RBA
高出2.8%
6.3%
自由现金流更多
OWL
多$172.6M
$186.5M
两年增速更快
OWL
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $755.6M | $1.2B |
| 净利润 | $47.7M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 22.2% | 14.7% |
| 净利率 | 6.3% | 9.1% |
| 营收同比 | 19.7% | 5.4% |
| 净利润同比 | 129.8% | -7.4% |
| 每股收益（稀释后） | $0.07 | $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OWLRBA
| Q4 25 | $755.6M | $1.2B | ||
| Q3 25 | $728.0M | $1.1B | ||
| Q2 25 | $703.1M | $1.2B | ||
| Q1 25 | $683.5M | $1.1B | ||
| Q4 24 | $631.4M | $1.1B | ||
| Q3 24 | $600.9M | $981.8M | ||
| Q2 24 | $549.8M | $1.1B | ||
| Q1 24 | $513.3M | $1.1B |
净利润OWLRBA
| Q4 25 | $47.7M | $109.7M | ||
| Q3 25 | $6.3M | $95.5M | ||
| Q2 25 | $17.4M | $109.8M | ||
| Q1 25 | $7.4M | $113.4M | ||
| Q4 24 | $20.7M | $118.5M | ||
| Q3 24 | $29.8M | $76.1M | ||
| Q2 24 | $33.9M | $111.1M | ||
| Q1 24 | $25.1M | $107.4M |
营业利润率OWLRBA
| Q4 25 | 22.2% | 14.7% | ||
| Q3 25 | 7.6% | 14.5% | ||
| Q2 25 | 12.0% | 15.9% | ||
| Q1 25 | 5.9% | 17.1% | ||
| Q4 24 | 11.7% | 18.1% | ||
| Q3 24 | 18.7% | 15.6% | ||
| Q2 24 | 28.4% | 18.4% | ||
| Q1 24 | 24.7% | 18.7% |
净利率OWLRBA
| Q4 25 | 6.3% | 9.1% | ||
| Q3 25 | 0.9% | 8.7% | ||
| Q2 25 | 2.5% | 9.3% | ||
| Q1 25 | 1.1% | 10.2% | ||
| Q4 24 | 3.3% | 10.4% | ||
| Q3 24 | 5.0% | 7.8% | ||
| Q2 24 | 6.2% | 10.1% | ||
| Q1 24 | 4.9% | 10.1% |
每股收益（稀释后）OWLRBA
| Q4 25 | $0.07 | $0.53 | ||
| Q3 25 | $0.01 | $0.43 | ||
| Q2 25 | $0.02 | $0.53 | ||
| Q1 25 | $0.00 | $0.55 | ||
| Q4 24 | $0.06 | $0.58 | ||
| Q3 24 | $0.04 | $0.36 | ||
| Q2 24 | $0.06 | $0.54 | ||
| Q1 24 | $0.04 | $0.53 |
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 | $194.5M | $531.5M |
| 总债务越低越好 | $3.3B | $2.3B |
| 股东权益账面价值 | $2.2B | $5.6B |
| 总资产 | $12.5B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.51× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资OWLRBA
| Q4 25 | $194.5M | $531.5M | ||
| Q3 25 | $137.3M | $674.7M | ||
| Q2 25 | $117.6M | $710.2M | ||
| Q1 25 | $97.6M | $578.1M | ||
| Q4 24 | $152.1M | $533.9M | ||
| Q3 24 | $115.9M | $650.7M | ||
| Q2 24 | $436.8M | $599.5M | ||
| Q1 24 | $155.8M | $462.8M |
总债务OWLRBA
| Q4 25 | $3.3B | $2.3B | ||
| Q3 25 | $3.2B | $2.6B | ||
| Q2 25 | $3.2B | $2.6B | ||
| Q1 25 | $3.2B | $2.6B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | $2.5B | $2.7B | ||
| Q2 24 | $2.5B | $2.8B | ||
| Q1 24 | $2.1B | $2.9B |
股东权益OWLRBA
| Q4 25 | $2.2B | $5.6B | ||
| Q3 25 | $2.3B | $5.5B | ||
| Q2 25 | $2.4B | $5.5B | ||
| Q1 25 | $2.3B | $5.3B | ||
| Q4 24 | $2.1B | $5.2B | ||
| Q3 24 | $2.0B | $5.2B | ||
| Q2 24 | $1.7B | $5.2B | ||
| Q1 24 | $1.6B | $5.1B |
总资产OWLRBA
| Q4 25 | $12.5B | $12.1B | ||
| Q3 25 | $12.5B | $12.2B | ||
| Q2 25 | $12.3B | $12.2B | ||
| Q1 25 | $12.3B | $11.9B | ||
| Q4 24 | $11.0B | $11.8B | ||
| Q3 24 | $10.8B | $11.9B | ||
| Q2 24 | $9.7B | $12.1B | ||
| Q1 24 | $9.0B | $12.0B |
负债/权益比OWLRBA
| Q4 25 | 1.51× | 0.42× | ||
| Q3 25 | 1.41× | 0.47× | ||
| Q2 25 | 1.38× | 0.47× | ||
| Q1 25 | 1.37× | 0.50× | ||
| Q4 24 | 1.22× | 0.50× | ||
| Q3 24 | 1.27× | 0.52× | ||
| Q2 24 | 1.41× | 0.55× | ||
| Q1 24 | 1.26× | 0.58× |
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 | $382.9M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $359.1M | $186.5M |
| 自由现金流率自由现金流/营收 | 47.5% | 15.5% |
| 资本支出强度资本支出/营收 | 3.1% | 5.7% |
| 现金转化率经营现金流/净利润 | 8.03× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $719.2M |
8季度趋势，按日历期对齐
经营现金流OWLRBA
| Q4 25 | $382.9M | $255.2M | ||
| Q3 25 | $433.1M | $239.7M | ||
| Q2 25 | $422.5M | $326.5M | ||
| Q1 25 | $17.6M | $156.8M | ||
| Q4 24 | $324.0M | $184.5M | ||
| Q3 24 | $326.0M | $285.4M | ||
| Q2 24 | $302.3M | $337.3M | ||
| Q1 24 | $47.2M | $124.8M |
自由现金流OWLRBA
| Q4 25 | $359.1M | $186.5M | ||
| Q3 25 | $422.5M | $188.5M | ||
| Q2 25 | $412.5M | $241.7M | ||
| Q1 25 | $4.2M | $102.5M | ||
| Q4 24 | $310.1M | $127.9M | ||
| Q3 24 | $314.8M | $248.5M | ||
| Q2 24 | $269.4M | $308.6M | ||
| Q1 24 | $41.1M | $79.6M |
自由现金流率OWLRBA
| Q4 25 | 47.5% | 15.5% | ||
| Q3 25 | 58.0% | 17.3% | ||
| Q2 25 | 58.7% | 20.4% | ||
| Q1 25 | 0.6% | 9.2% | ||
| Q4 24 | 49.1% | 11.2% | ||
| Q3 24 | 52.4% | 25.3% | ||
| Q2 24 | 49.0% | 28.2% | ||
| Q1 24 | 8.0% | 7.5% |
资本支出强度OWLRBA
| Q4 25 | 3.1% | 5.7% | ||
| Q3 25 | 1.5% | 4.7% | ||
| Q2 25 | 1.4% | 7.2% | ||
| Q1 25 | 2.0% | 4.9% | ||
| Q4 24 | 2.2% | 5.0% | ||
| Q3 24 | 1.9% | 3.8% | ||
| Q2 24 | 6.0% | 2.6% | ||
| Q1 24 | 1.2% | 4.2% |
现金转化率OWLRBA
| Q4 25 | 8.03× | 2.33× | ||
| Q3 25 | 68.64× | 2.51× | ||
| Q2 25 | 24.25× | 2.97× | ||
| Q1 25 | 2.37× | 1.38× | ||
| Q4 24 | 15.62× | 1.56× | ||
| Q3 24 | 10.94× | 3.75× | ||
| Q2 24 | 8.91× | 3.04× | ||
| Q1 24 | 1.88× | 1.16× |
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
OWL
| Credit Platform | $455.0M | 60% |
| GP Strategic Capital Platform | $157.0M | 21% |
| Administrative Service | $87.6M | 12% |
| IPI Partners LLC | $33.8M | 4% |
| Other | $22.2M | 3% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
