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爱彼迎（ABNB）与Barnes & Noble Education, Inc.（BNED）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Barnes & Noble Education, Inc.的4.6倍（$2.8B vs $598.2M）。爱彼迎净利率更高（12.3% vs 4.2%，领先8.1%）。爱彼迎同比增速更快（12.0% vs 6.9%）。过去两年Barnes & Noble Education, Inc.的营收复合增速更高（20.0% vs 13.9%）
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。
巴诺教育旗下的巴诺书店是美国门店数量最多的图书零售商，目前在美国各地经营着七百多家线下实体门店，是美国本土颇具影响力的线下图书零售企业，深耕图书零售领域多年。
ABNB vs BNED — 直观对比
营收规模更大
ABNB
是对方的4.6倍
$598.2M
营收增速更快
ABNB
高出5.1%
6.9%
净利率更高
ABNB
高出8.1%
4.2%
两年增速更快
BNED
近两年复合增速
13.9%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $598.2M |
| 净利润 | $341.0M | $25.0M |
| 毛利率 | 82.5% | 21.7% |
| 营业利润率 | 9.7% | 6.8% |
| 净利率 | 12.3% | 4.2% |
| 营收同比 | 12.0% | 6.9% |
| 净利润同比 | -26.0% | -49.7% |
| 每股收益（稀释后） | — | $0.72 |
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ABNBBNED
| Q4 25 | $2.8B | $598.2M | ||
| Q3 25 | $4.1B | $274.2M | ||
| Q2 25 | $3.1B | $233.0M | ||
| Q1 25 | $2.3B | $419.7M | ||
| Q4 24 | $2.5B | $559.7M | ||
| Q3 24 | $3.7B | $250.9M | ||
| Q2 24 | $2.7B | $192.7M | ||
| Q1 24 | $2.1B | $415.4M |
净利润ABNBBNED
| Q4 25 | $341.0M | $25.0M | ||
| Q3 25 | $1.4B | $-18.3M | ||
| Q2 25 | $642.0M | $-23.0M | ||
| Q1 25 | $154.0M | $17.9M | ||
| Q4 24 | $461.0M | $43.2M | ||
| Q3 24 | $1.4B | $-103.9M | ||
| Q2 24 | $555.0M | $-41.9M | ||
| Q1 24 | $264.0M | $-9.3M |
毛利率ABNBBNED
| Q4 25 | 82.5% | 21.7% | ||
| Q3 25 | 86.6% | 20.2% | ||
| Q2 25 | 82.4% | 30.3% | ||
| Q1 25 | 77.7% | 22.3% | ||
| Q4 24 | 82.8% | 23.0% | ||
| Q3 24 | 87.5% | 17.9% | ||
| Q2 24 | 81.6% | 28.7% | ||
| Q1 24 | 77.6% | 24.2% |
营业利润率ABNBBNED
| Q4 25 | 9.7% | 6.8% | ||
| Q3 25 | 39.7% | -8.4% | ||
| Q2 25 | 19.8% | -4.9% | ||
| Q1 25 | 1.7% | 4.5% | ||
| Q4 24 | 17.3% | 8.4% | ||
| Q3 24 | 40.9% | -15.4% | ||
| Q2 24 | 18.1% | -16.3% | ||
| Q1 24 | 4.7% | 0.4% |
净利率ABNBBNED
| Q4 25 | 12.3% | 4.2% | ||
| Q3 25 | 33.6% | -6.7% | ||
| Q2 25 | 20.7% | -9.9% | ||
| Q1 25 | 6.8% | 4.3% | ||
| Q4 24 | 18.6% | 7.7% | ||
| Q3 24 | 36.7% | -41.4% | ||
| Q2 24 | 20.2% | -21.7% | ||
| Q1 24 | 12.3% | -2.2% |
每股收益（稀释后）ABNBBNED
| Q4 25 | — | $0.72 | ||
| Q3 25 | — | $-0.54 | ||
| Q2 25 | — | $2.97 | ||
| Q1 25 | — | $0.59 | ||
| Q4 24 | — | $1.63 | ||
| Q3 24 | — | $-7.69 | ||
| Q2 24 | — | $-15.68 | ||
| Q1 24 | — | $-3.49 |
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 | $11.7M |
| 总债务越低越好 | — | $122.5M |
| 股东权益账面价值 | $8.2B | $283.2M |
| 总资产 | $22.2B | $1.1B |
| 负债/权益比越低杠杆越低 | — | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资ABNBBNED
| Q4 25 | $11.0B | $11.7M | ||
| Q3 25 | $11.7B | $7.3M | ||
| Q2 25 | $11.4B | $9.1M | ||
| Q1 25 | $11.5B | $9.2M | ||
| Q4 24 | $10.6B | $11.6M | ||
| Q3 24 | $11.3B | $8.2M | ||
| Q2 24 | $11.3B | $10.5M | ||
| Q1 24 | $11.1B | $8.1M |
总债务ABNBBNED
| Q4 25 | — | $122.5M | ||
| Q3 25 | — | $170.0M | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | $141.2M | ||
| Q4 24 | — | $177.6M | ||
| Q3 24 | — | $221.9M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $30.2M |
股东权益ABNBBNED
| Q4 25 | $8.2B | $283.2M | ||
| Q3 25 | $8.6B | $256.5M | ||
| Q2 25 | $7.8B | $272.2M | ||
| Q1 25 | $7.9B | $292.9M | ||
| Q4 24 | $8.4B | $211.4M | ||
| Q3 24 | $8.5B | $149.8M | ||
| Q2 24 | $8.0B | $80.4M | ||
| Q1 24 | $7.9B | $121.5M |
总资产ABNBBNED
| Q4 25 | $22.2B | $1.1B | ||
| Q3 25 | $23.1B | $950.8M | ||
| Q2 25 | $27.0B | $790.3M | ||
| Q1 25 | $25.1B | $1.1B | ||
| Q4 24 | $21.0B | $1.0B | ||
| Q3 24 | $22.2B | $973.2M | ||
| Q2 24 | $26.3B | $909.9M | ||
| Q1 24 | $24.5B | $1.2B |
负债/权益比ABNBBNED
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 2.44× | ||
| Q1 24 | — | 0.25× |
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 | $66.2M |
| 自由现金流经营现金流 - 资本支出 | — | $61.9M |
| 自由现金流率自由现金流/营收 | — | 10.4% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | 1.54× | 2.65× |
| 过去12个月自由现金流最近4个季度 | — | $-4.6M |
8季度趋势，按日历期对齐
经营现金流ABNBBNED
| Q4 25 | $526.0M | $66.2M | ||
| Q3 25 | $1.4B | $-67.6M | ||
| Q2 25 | $975.0M | $52.6M | ||
| Q1 25 | $1.8B | $-41.9M | ||
| Q4 24 | $466.0M | $47.4M | ||
| Q3 24 | $1.1B | $-143.5M | ||
| Q2 24 | $1.1B | $81.7M | ||
| Q1 24 | $1.9B | $-35.8M |
自由现金流ABNBBNED
| Q4 25 | — | $61.9M | ||
| Q3 25 | — | $-71.3M | ||
| Q2 25 | — | $49.5M | ||
| Q1 25 | — | $-44.7M | ||
| Q4 24 | — | $44.4M | ||
| Q3 24 | — | $-147.5M | ||
| Q2 24 | — | $79.1M | ||
| Q1 24 | — | $-39.0M |
自由现金流率ABNBBNED
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | -26.0% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | -10.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | -58.8% | ||
| Q2 24 | — | 41.1% | ||
| Q1 24 | — | -9.4% |
资本支出强度ABNBBNED
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 0.8% |
现金转化率ABNBBNED
| Q4 25 | 1.54× | 2.65× | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | -2.34× | ||
| Q4 24 | 1.01× | 1.10× | ||
| 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% |
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
