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爱彼迎（ABNB）与ABERCROMBIE & FITCH CO（ANF）财务数据对比。点击上方公司名可切换其他公司
爱彼迎的季度营收约是ABERCROMBIE & FITCH CO的2.2倍（$2.8B vs $1.3B）。爱彼迎净利率更高（12.3% vs 8.8%，领先3.5%）。爱彼迎同比增速更快（12.0% vs 6.8%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -5.8%）
爱彼迎是全球知名的旅行住宿及体验共享平台，成立于2007年，2010年正式启用现名。平台连接全球各地的房东与旅客，用户可通过网页或移动端预订私人客房、普通住宅、度假屋等多元住宿，也可报名参与当地特色体验项目，是共享经济领域的代表性企业。
A&F（阿伯克龙比与菲奇）是1892年成立的美国生活方式零售品牌，主打面向20岁出头至45岁左右客群的潮流服饰，总部位于俄亥俄州新奥尔巴尼。旗下运营Abercrombie Kids、Your Personal Best、霍利斯特（Hollister Co.）、Gilly Hicks四个子品牌，全品牌直营门店超780家。
ABNB vs ANF — 直观对比
营收规模更大
ABNB
是对方的2.2倍
$1.3B
营收增速更快
ABNB
高出5.3%
6.8%
净利率更高
ABNB
高出3.5%
8.8%
两年增速更快
ABNB
近两年复合增速
-5.8%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.3B |
| 净利润 | $341.0M | $113.0M |
| 毛利率 | 82.5% | 62.5% |
| 营业利润率 | 9.7% | 12.0% |
| 净利率 | 12.3% | 8.8% |
| 营收同比 | 12.0% | 6.8% |
| 净利润同比 | -26.0% | -14.4% |
| 每股收益（稀释后） | — | $2.36 |
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ABNBANF
| Q4 25 | $2.8B | $1.3B | ||
| Q3 25 | $4.1B | $1.2B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.5B | $1.2B | ||
| Q3 24 | $3.7B | $1.1B | ||
| Q2 24 | $2.7B | $1.0B | ||
| Q1 24 | $2.1B | $1.5B |
净利润ABNBANF
| Q4 25 | $341.0M | $113.0M | ||
| Q3 25 | $1.4B | $141.4M | ||
| Q2 25 | $642.0M | $80.4M | ||
| Q1 25 | $154.0M | $187.2M | ||
| Q4 24 | $461.0M | $132.0M | ||
| Q3 24 | $1.4B | $133.2M | ||
| Q2 24 | $555.0M | $113.8M | ||
| Q1 24 | $264.0M | $158.4M |
毛利率ABNBANF
| Q4 25 | 82.5% | 62.5% | ||
| Q3 25 | 86.6% | 62.6% | ||
| Q2 25 | 82.4% | 62.0% | ||
| Q1 25 | 77.7% | — | ||
| Q4 24 | 82.8% | 65.1% | ||
| Q3 24 | 87.5% | 64.9% | ||
| Q2 24 | 81.6% | 66.4% | ||
| Q1 24 | 77.6% | 62.9% |
营业利润率ABNBANF
| Q4 25 | 9.7% | 12.0% | ||
| Q3 25 | 39.7% | 17.1% | ||
| Q2 25 | 19.8% | 9.3% | ||
| Q1 25 | 1.7% | 16.2% | ||
| Q4 24 | 17.3% | 14.8% | ||
| Q3 24 | 40.9% | 15.5% | ||
| Q2 24 | 18.1% | 12.7% | ||
| Q1 24 | 4.7% | 15.3% |
净利率ABNBANF
| Q4 25 | 12.3% | 8.8% | ||
| Q3 25 | 33.6% | 11.7% | ||
| Q2 25 | 20.7% | 7.3% | ||
| Q1 25 | 6.8% | 11.8% | ||
| Q4 24 | 18.6% | 10.9% | ||
| Q3 24 | 36.7% | 11.7% | ||
| Q2 24 | 20.2% | 11.2% | ||
| Q1 24 | 12.3% | 10.9% |
每股收益（稀释后）ABNBANF
| Q4 25 | — | $2.36 | ||
| Q3 25 | — | $2.91 | ||
| Q2 25 | — | $1.59 | ||
| Q1 25 | — | $3.55 | ||
| Q4 24 | — | $2.50 | ||
| Q3 24 | — | $2.50 | ||
| Q2 24 | — | $2.14 | ||
| Q1 24 | — | $2.97 |
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 | $11.0B | $631.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $1.3B |
| 总资产 | $22.2B | $3.5B |
| 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ABNBANF
| Q4 25 | $11.0B | $631.0M | ||
| Q3 25 | $11.7B | $603.5M | ||
| Q2 25 | $11.4B | $607.6M | ||
| Q1 25 | $11.5B | $888.9M | ||
| Q4 24 | $10.6B | $738.9M | ||
| Q3 24 | $11.3B | $738.4M | ||
| Q2 24 | $11.3B | $864.2M | ||
| Q1 24 | $11.1B | $900.9M |
股东权益ABNBANF
| Q4 25 | $8.2B | $1.3B | ||
| Q3 25 | $8.6B | $1.3B | ||
| Q2 25 | $7.8B | $1.2B | ||
| Q1 25 | $7.9B | $1.3B | ||
| Q4 24 | $8.4B | $1.2B | ||
| Q3 24 | $8.5B | $1.2B | ||
| Q2 24 | $8.0B | $1.1B | ||
| Q1 24 | $7.9B | $1.0B |
总资产ABNBANF
| Q4 25 | $22.2B | $3.5B | ||
| Q3 25 | $23.1B | $3.3B | ||
| Q2 25 | $27.0B | $3.1B | ||
| Q1 25 | $25.1B | $3.3B | ||
| Q4 24 | $21.0B | $3.3B | ||
| Q3 24 | $22.2B | $3.0B | ||
| Q2 24 | $26.3B | $3.0B | ||
| Q1 24 | $24.5B | $3.0B |
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 | $526.0M | $200.1M |
| 自由现金流经营现金流 - 资本支出 | — | $131.8M |
| 自由现金流率自由现金流/营收 | — | 10.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $384.5M |
8季度趋势，按日历期对齐
经营现金流ABNBANF
| Q4 25 | $526.0M | $200.1M | ||
| Q3 25 | $1.4B | $116.9M | ||
| Q2 25 | $975.0M | $-4.0M | ||
| Q1 25 | $1.8B | $307.6M | ||
| Q4 24 | $466.0M | $142.6M | ||
| Q3 24 | $1.1B | $165.1M | ||
| Q2 24 | $1.1B | $95.0M | ||
| Q1 24 | $1.9B | $303.3M |
自由现金流ABNBANF
| Q4 25 | — | $131.8M | ||
| Q3 25 | — | $50.7M | ||
| Q2 25 | — | $-54.8M | ||
| Q1 25 | — | $256.8M | ||
| Q4 24 | — | $92.2M | ||
| Q3 24 | — | $122.3M | ||
| Q2 24 | — | $56.1M | ||
| Q1 24 | — | $274.1M |
自由现金流率ABNBANF
| Q4 25 | — | 10.2% | ||
| Q3 25 | — | 4.2% | ||
| Q2 25 | — | -5.0% | ||
| Q1 25 | — | 16.2% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | 18.9% |
资本支出强度ABNBANF
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 2.0% |
现金转化率ABNBANF
| Q4 25 | 1.54× | 1.77× | ||
| Q3 25 | 0.99× | 0.83× | ||
| Q2 25 | 1.52× | -0.05× | ||
| Q1 25 | 11.62× | 1.64× | ||
| Q4 24 | 1.01× | 1.08× | ||
| Q3 24 | 0.79× | 1.24× | ||
| Q2 24 | 1.89× | 0.83× | ||
| Q1 24 | 7.28× | 1.91× |
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
ABNB
| North America | $1.1B | 41% |
| EMEA | $930.0M | 33% |
| Latin America | $351.0M | 13% |
| Other | $351.0M | 13% |
ANF
| Hollister | $673.3M | 52% |
| Abercrombie | $617.3M | 48% |
| Gift Card | $25.7M | 2% |
| Royalty | $19.5M | 2% |
