券商2025年年报及2026年一季报总结：盈利提升、分化加剧，关注行业估值修复机会

1 ◆ ◆ ◆ ◆ Wind, WIND 2025 2026 151.38 93.01% 23.99% 47.27 78.23% 29.12% 147.53 37.72% 19.71% 49.15 47.82% 21.23% 95.97 44.32% 27.04% 31.40 53.49% 26.88% 91.22 41.50% 25.47% 29.13 50.46% 27.95% 88.93 43.82% 35.61% 25.90 31.74% 37.14% 88.46 42.94% 31.26% 27.01 40.55% 36.73% 86.52 55.09% 35.83% 27.45 47.46% 55.78% 79.70 37.01% 34.18% 23.77 36.94% 30.89% 61.71 44.75% 21.67% 20.05 54.45% 22.72% 59.93 30.20% 24.71% 19.03 44.36% 32.11% 55.78 38.19% 53.11% 16.70 35.67% 49.11% 42.94 28.50% 37.70% 12.97 33.85% 41.76% 39.83 33.14% 36.70% 11.57 27.22% 37.51% 37.70 30.85% 35.74% 11.56 34.75% 34.34% 31.82 35.41% 35.99% 10.16 46.88% 43.06% 29.44 38.21% 24.86% 9.46 42.68% 35.50% 29.18 53.19% 34.51% 9.03 48.55% 37.17% 29.16 16.13% 18.99% 8.62 22.69% 21.08% 23.93 33.41% 26.50% 7.36 44.55% 35.92% 21.69 35.63% 46.99% 6.26 25.90% 53.69% 21.03 192.83% 27.40% 6.76 44.12% 36.42% 18.69 32.37% 27.00% 5.34 26.99% 32.33% 14.84 36.91% 23.74% 4.46 33.24% 33.57% 14.80 37.24% 29.20% 4.46 37.88% 45.87% 13.61 43.65% 22.74% 5.18 76.73% 36.37% 13.57 36.26% 26.78% 4.13 42.13% 31.13% 13.32 40.15% 39.29% 4.22 50.10% 45.81% 11.62 33.58% 33.65% 3.59 32.78% 36.80% 11.29 28.65% 21.73% 3.19 28.68% 25.01% 11.18 - 62.56% 2.93 - 99.08% 10.73 31.01% 37.61% 3.36 53.63% 76.84% 10.61 24.36% 26.23% 2.95 26.05% 27.05% 10.00 33.21% 37.04% 2.94 26.96% 40.08% 9.53 30.30% 20.22% 2.60 13.12% 28.45% 8.57 43.71% 25.57% 2.47 29.31% 31.56% 8.23 28.00% 41.92% 2.32 20.78% 43.08% 7.64 35.36% 45.00% 2.24 28.44% 59.87% 7.49 21.78% 23.37% 2.08 19.46% 26.34% 6.85 33.92% 24.41% 1.99 26.26% 27.53% 5.58 46.95% 15.14% 1.69 37.51% 19.92% 4.96 28.30% 37.35% 1.57 39.15% 62.62% 2.71 23.55% 10.73% 0.82 30.06% 14.47% 2.62 24.83% 10.78% 0.73 21.17% 16.44% WIND WIND WIND WIND 2025 2026 63.36 52.35% 8.46% 12.07 23.75% 5.21% 50.31 62.57% 17.66% 15.45 283.09% 17.51% 46.57 59.39% 7.38% 7.54 6.56% 4.65% 31.29 25.65% 13.42% 6.12 70.97% 7.95% 30.99 47.80% 8.65% 8.61 58.87% 8.27% 15.02 28.53% 9.78% 3.49 9.03% 8.53% 12.13 24.64% 5.00% 3.44 11.91% 5.80% 10.46 14.97% 12.37% 3.44 175.99% 14.16% 10.28 20.01% 4.12% 1.80 -3.79% 2.58% 9.00 -11.77% 3.73% 1.56 36.13% 3.16% 8.98 165.24% 11.70% 1.95 11.76% 10.50% 8.84 13.60% 2.49% 1.65 6.89% 1.41% 8.30 36.82% 2.93% 1.06 -30.25% 1.43% 7.97 13.06% 8.82% 3.77 71.57% 18.41% 7.85 9.11% 8.88% 2.66 113.49% 11.30% 7.75 -5.81% 7.14% 1.38 -2.27% 4.47% 7.56 17.00% 26.48% 1.35 -35.30% 30.95% 6.30 -10.04% 5.32% 0.72 -42.84% 2.69% 5.41 -42.52% 4.75% 1.34 -12.68% 4.30% 4.90 3.60% 10.40% 0.76 -57.91% 8.29% 4.27 -18.28% 6.17% 1.00 -6.64% 6.03% 4.05 44.55% 6.77% 0.66 21.12% 4.63% 3.99 14.17% 3.78% 0.92 32.76% 2.75% 3.56 2.76% 10.62% 0.79 2.49% 10.12% 3.30 25.14% 6.35% 0.55 -34.66% 4.29% 2.97 6.25% 11.01% 0.83 34.22% 11.35% 2.60 -