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爱彼迎（ABNB）与BJ's Wholesale Club Holdings, Inc.（BJ）财务数据对比。点击上方公司名可切换其他公司
BJ's Wholesale Club Holdings, Inc.的季度营收约是爱彼迎的1.9倍（$5.3B vs $2.8B）。爱彼迎净利率更高（12.3% vs 2.8%，领先9.4%）。爱彼迎同比增速更快（12.0% vs 4.9%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -0.1%）
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。
BJ's Wholesale Club Holdings是美国区域型会员制仓储连锁商超，总部位于马萨诸塞州马尔伯勒，业务覆盖美国东部地区及俄亥俄、密歇根、肯塔基州路易斯维尔、印第安纳、田纳西、佛罗里达、阿拉巴马等地，主要竞争对手为好市多和山姆会员店。
ABNB vs BJ — 直观对比
营收规模更大
BJ
是对方的1.9倍
$2.8B
营收增速更快
ABNB
高出7.1%
4.9%
净利率更高
ABNB
高出9.4%
2.8%
两年增速更快
ABNB
近两年复合增速
-0.1%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $5.3B |
| 净利润 | $341.0M | $152.1M |
| 毛利率 | 82.5% | 19.0% |
| 营业利润率 | 9.7% | 4.1% |
| 净利率 | 12.3% | 2.8% |
| 营收同比 | 12.0% | 4.9% |
| 净利润同比 | -26.0% | -2.4% |
| 每股收益（稀释后） | — | $1.15 |
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ABNBBJ
| Q4 25 | $2.8B | $5.3B | ||
| Q3 25 | $4.1B | $5.4B | ||
| Q2 25 | $3.1B | $5.2B | ||
| Q1 25 | $2.3B | $5.3B | ||
| Q4 24 | $2.5B | $5.1B | ||
| Q3 24 | $3.7B | $5.2B | ||
| Q2 24 | $2.7B | $4.9B | ||
| Q1 24 | $2.1B | $5.4B |
净利润ABNBBJ
| Q4 25 | $341.0M | $152.1M | ||
| Q3 25 | $1.4B | $150.7M | ||
| Q2 25 | $642.0M | $149.8M | ||
| Q1 25 | $154.0M | $122.7M | ||
| Q4 24 | $461.0M | $155.7M | ||
| Q3 24 | $1.4B | $145.0M | ||
| Q2 24 | $555.0M | $111.0M | ||
| Q1 24 | $264.0M | $145.9M |
毛利率ABNBBJ
| Q4 25 | 82.5% | 19.0% | ||
| Q3 25 | 86.6% | 18.7% | ||
| Q2 25 | 82.4% | 18.8% | ||
| Q1 25 | 77.7% | 18.0% | ||
| Q4 24 | 82.8% | 19.1% | ||
| Q3 24 | 87.5% | 18.4% | ||
| Q2 24 | 81.6% | 18.0% | ||
| Q1 24 | 77.6% | 18.0% |
营业利润率ABNBBJ
| Q4 25 | 9.7% | 4.1% | ||
| Q3 25 | 39.7% | 4.0% | ||
| Q2 25 | 19.8% | 4.0% | ||
| Q1 25 | 1.7% | 3.4% | ||
| Q4 24 | 17.3% | 4.5% | ||
| Q3 24 | 40.9% | 3.9% | ||
| Q2 24 | 18.1% | 3.3% | ||
| Q1 24 | 4.7% | 4.0% |
净利率ABNBBJ
| Q4 25 | 12.3% | 2.8% | ||
| Q3 25 | 33.6% | 2.8% | ||
| Q2 25 | 20.7% | 2.9% | ||
| Q1 25 | 6.8% | 2.3% | ||
| Q4 24 | 18.6% | 3.1% | ||
| Q3 24 | 36.7% | 2.8% | ||
| Q2 24 | 20.2% | 2.3% | ||
| Q1 24 | 12.3% | 2.7% |
每股收益（稀释后）ABNBBJ
| Q4 25 | — | $1.15 | ||
| Q3 25 | — | $1.14 | ||
| Q2 25 | — | $1.13 | ||
| Q1 25 | — | $0.92 | ||
| Q4 24 | — | $1.17 | ||
| Q3 24 | — | $1.08 | ||
| Q2 24 | — | $0.83 | ||
| Q1 24 | — | $1.09 |
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 | $45.1M |
| 总债务越低越好 | — | $399.0M |
| 股东权益账面价值 | $8.2B | $2.2B |
| 总资产 | $22.2B | $7.5B |
| 负债/权益比越低杠杆越低 | — | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资ABNBBJ
| Q4 25 | $11.0B | $45.1M | ||
| Q3 25 | $11.7B | $47.3M | ||
| Q2 25 | $11.4B | $39.5M | ||
| Q1 25 | $11.5B | $28.3M | ||
| Q4 24 | $10.6B | $33.9M | ||
| Q3 24 | $11.3B | $38.1M | ||
| Q2 24 | $11.3B | $35.1M | ||
| Q1 24 | $11.1B | $36.0M |
总债务ABNBBJ
| Q4 25 | — | $399.0M | ||
| Q3 25 | — | $399.0M | ||
| Q2 25 | — | $398.9M | ||
| Q1 25 | — | $398.8M | ||
| Q4 24 | — | $398.7M | ||
| Q3 24 | — | $398.6M | ||
| Q2 24 | — | $398.5M | ||
| Q1 24 | — | $398.4M |
股东权益ABNBBJ
| Q4 25 | $8.2B | $2.2B | ||
| Q3 25 | $8.6B | $2.1B | ||
| Q2 25 | $7.8B | $2.0B | ||
| Q1 25 | $7.9B | $1.8B | ||
| Q4 24 | $8.4B | $1.8B | ||
| Q3 24 | $8.5B | $1.7B | ||
| Q2 24 | $8.0B | $1.5B | ||
| Q1 24 | $7.9B | $1.5B |
总资产ABNBBJ
| Q4 25 | $22.2B | $7.5B | ||
| Q3 25 | $23.1B | $7.2B | ||
| Q2 25 | $27.0B | $7.2B | ||
| Q1 25 | $25.1B | $7.1B | ||
| Q4 24 | $21.0B | $7.2B | ||
| Q3 24 | $22.2B | $6.9B | ||
| Q2 24 | $26.3B | $6.8B | ||
| Q1 24 | $24.5B | $6.7B |
负债/权益比ABNBBJ
| Q4 25 | — | 0.18× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.22× | ||
| Q4 24 | — | 0.23× | ||
| Q3 24 | — | 0.24× | ||
| Q2 24 | — | 0.26× | ||
| Q1 24 | — | 0.27× |
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 | $181.1M |
| 自由现金流经营现金流 - 资本支出 | — | $-13.7M |
| 自由现金流率自由现金流/营收 | — | -0.3% |
| 资本支出强度资本支出/营收 | — | 3.6% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.19× |
| 过去12个月自由现金流最近4个季度 | — | $249.6M |
8季度趋势，按日历期对齐
经营现金流ABNBBJ
| Q4 25 | $526.0M | $181.1M | ||
| Q3 25 | $1.4B | $249.9M | ||
| Q2 25 | $975.0M | $208.1M | ||
| Q1 25 | $1.8B | $271.9M | ||
| Q4 24 | $466.0M | $206.8M | ||
| Q3 24 | $1.1B | $221.4M | ||
| Q2 24 | $1.1B | $200.8M | ||
| Q1 24 | $1.9B | $274.4M |
自由现金流ABNBBJ
| Q4 25 | — | $-13.7M | ||
| Q3 25 | — | $84.3M | ||
| Q2 25 | — | $67.6M | ||
| Q1 25 | — | $111.5M | ||
| Q4 24 | — | $18.8M | ||
| Q3 24 | — | $87.5M | ||
| Q2 24 | — | $95.1M | ||
| Q1 24 | — | $155.2M |
自由现金流率ABNBBJ
| Q4 25 | — | -0.3% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.9% |
资本支出强度ABNBBJ
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 2.2% |
现金转化率ABNBBJ
| Q4 25 | 1.54× | 1.19× | ||
| Q3 25 | 0.99× | 1.66× | ||
| Q2 25 | 1.52× | 1.39× | ||
| Q1 25 | 11.62× | 2.22× | ||
| Q4 24 | 1.01× | 1.33× | ||
| Q3 24 | 0.79× | 1.53× | ||
| Q2 24 | 1.89× | 1.81× | ||
| Q1 24 | 7.28× | 1.88× |
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% |
BJ
暂无分部数据
