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爱彼迎（ABNB）与Aterian, Inc.（ATER）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Aterian, Inc.的183.6倍（$2.8B vs $15.1M）。爱彼迎净利率更高（12.3% vs -52.5%，领先64.8%）。爱彼迎同比增速更快（12.0% vs -38.5%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -13.5%）
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。
Aterian, Inc.是一家技术驱动的消费品企业，依托人工智能与数据分析挖掘市场需求，开发、采购并销售家居、个护、健康、户外、宠物用品等多品类高性价比商品，主要通过全球主流电商平台销往北美、欧洲等核心市场。
ABNB vs ATER — 直观对比
营收规模更大
ABNB
是对方的183.6倍
$15.1M
营收增速更快
ABNB
高出50.5%
-38.5%
净利率更高
ABNB
高出64.8%
-52.5%
两年增速更快
ABNB
近两年复合增速
-13.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $15.1M |
| 净利润 | $341.0M | $-7.9M |
| 毛利率 | 82.5% | 56.1% |
| 营业利润率 | 9.7% | -51.1% |
| 净利率 | 12.3% | -52.5% |
| 营收同比 | 12.0% | -38.5% |
| 净利润同比 | -26.0% | -512.2% |
| 每股收益（稀释后） | — | — |
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ABNBATER
| Q4 25 | $2.8B | $15.1M | ||
| Q3 25 | $4.1B | $19.0M | ||
| Q2 25 | $3.1B | $19.5M | ||
| Q1 25 | $2.3B | $15.4M | ||
| Q4 24 | $2.5B | $24.6M | ||
| Q3 24 | $3.7B | $26.2M | ||
| Q2 24 | $2.7B | $28.0M | ||
| Q1 24 | $2.1B | $20.2M |
净利润ABNBATER
| Q4 25 | $341.0M | $-7.9M | ||
| Q3 25 | $1.4B | $-2.3M | ||
| Q2 25 | $642.0M | $-4.9M | ||
| Q1 25 | $154.0M | $-3.9M | ||
| Q4 24 | $461.0M | $-1.3M | ||
| Q3 24 | $1.4B | $-1.8M | ||
| Q2 24 | $555.0M | $-3.6M | ||
| Q1 24 | $264.0M | $-5.2M |
毛利率ABNBATER
| Q4 25 | 82.5% | 56.1% | ||
| Q3 25 | 86.6% | 56.1% | ||
| Q2 25 | 82.4% | 54.3% | ||
| Q1 25 | 77.7% | 61.4% | ||
| Q4 24 | 82.8% | 63.4% | ||
| Q3 24 | 87.5% | 60.3% | ||
| Q2 24 | 81.6% | 60.4% | ||
| Q1 24 | 77.6% | 65.1% |
营业利润率ABNBATER
| Q4 25 | 9.7% | -51.1% | ||
| Q3 25 | 39.7% | -10.7% | ||
| Q2 25 | 19.8% | -23.1% | ||
| Q1 25 | 1.7% | -24.1% | ||
| Q4 24 | 17.3% | -6.5% | ||
| Q3 24 | 40.9% | -6.6% | ||
| Q2 24 | 18.1% | -11.5% | ||
| Q1 24 | 4.7% | -26.1% |
净利率ABNBATER
| Q4 25 | 12.3% | -52.5% | ||
| Q3 25 | 33.6% | -12.0% | ||
| Q2 25 | 20.7% | -25.0% | ||
| Q1 25 | 6.8% | -25.4% | ||
| Q4 24 | 18.6% | -5.3% | ||
| Q3 24 | 36.7% | -6.8% | ||
| Q2 24 | 20.2% | -13.0% | ||
| Q1 24 | 12.3% | -25.5% |
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 | $4.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $15.2M |
| 总资产 | $22.2B | $29.6M |
| 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ABNBATER
| Q4 25 | $11.0B | $4.9M | ||
| Q3 25 | $11.7B | $7.6M | ||
| Q2 25 | $11.4B | $10.5M | ||
| Q1 25 | $11.5B | $14.3M | ||
| Q4 24 | $10.6B | $18.0M | ||
| Q3 24 | $11.3B | $16.1M | ||
| Q2 24 | $11.3B | $20.3M | ||
| Q1 24 | $11.1B | $17.5M |
股东权益ABNBATER
| Q4 25 | $8.2B | $15.2M | ||
| Q3 25 | $8.6B | $22.6M | ||
| Q2 25 | $7.8B | $24.3M | ||
| Q1 25 | $7.9B | $27.0M | ||
| Q4 24 | $8.4B | $30.0M | ||
| Q3 24 | $8.5B | $30.6M | ||
| Q2 24 | $8.0B | $30.9M | ||
| Q1 24 | $7.9B | $33.0M |
总资产ABNBATER
| Q4 25 | $22.2B | $29.6M | ||
| Q3 25 | $23.1B | $40.1M | ||
| Q2 25 | $27.0B | $45.4M | ||
| Q1 25 | $25.1B | $49.8M | ||
| Q4 24 | $21.0B | $49.5M | ||
| Q3 24 | $22.2B | $52.1M | ||
| Q2 24 | $26.3B | $59.9M | ||
| Q1 24 | $24.5B | $55.7M |
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 | $-1.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.0M |
| 自由现金流率自由现金流/营收 | — | -6.9% |
| 资本支出强度资本支出/营收 | — | 0.0% |
| 现金转化率经营现金流/净利润 | 1.54× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ABNBATER
| Q4 25 | $526.0M | $-1.0M | ||
| Q3 25 | $1.4B | $-1.6M | ||
| Q2 25 | $975.0M | $-4.4M | ||
| Q1 25 | $1.8B | $-3.9M | ||
| Q4 24 | $466.0M | $-9.0K | ||
| Q3 24 | $1.1B | $-722.0K | ||
| Q2 24 | $1.1B | $2.9M | ||
| Q1 24 | $1.9B | $-6.0K |
自由现金流ABNBATER
| Q4 25 | — | $-1.0M | ||
| Q3 25 | — | $-1.6M | ||
| Q2 25 | — | $-4.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $2.9M | ||
| Q1 24 | — | $-42.0K |
自由现金流率ABNBATER
| Q4 25 | — | -6.9% | ||
| Q3 25 | — | -8.4% | ||
| Q2 25 | — | -22.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 10.3% | ||
| Q1 24 | — | -0.2% |
资本支出强度ABNBATER
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.2% |
现金转化率ABNBATER
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | — | ||
| Q3 24 | 0.79× | — | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 7.28× | — |
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% |
ATER
| Sales Channel Directly To Consumer | $13.1M | 87% |
| Heating Cooling And Air Quality | $2.1M | 14% |
