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爱彼迎（ABNB）与Conagra Brands（CAG）财务数据对比。点击上方公司名可切换其他公司
Conagra Brands的季度营收约是爱彼迎的1.1倍（$3.0B vs $2.8B），爱彼迎净利率更高（12.3% vs -22.3%，领先34.6%），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 -0.9%）
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。
Conagra Brands是美国包装消费品控股企业，1919年于内布拉斯加州成立，总部设在伊利诺伊州芝加哥。公司旗下拥有多个食品品牌，产品覆盖超市、餐厅及各类餐饮服务场所，2022年位列《财富》美国500强第331位。
ABNB vs CAG — 直观对比
营收规模更大
CAG
是对方的1.1倍
$2.8B
营收增速更快
ABNB
高出18.8%
-6.8%
净利率更高
ABNB
高出34.6%
-22.3%
两年增速更快
ABNB
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $3.0B |
| 净利润 | $341.0M | $-663.6M |
| 毛利率 | 82.5% | 23.4% |
| 营业利润率 | 9.7% | -20.1% |
| 净利率 | 12.3% | -22.3% |
| 营收同比 | 12.0% | -6.8% |
| 净利润同比 | -26.0% | -333.3% |
| 每股收益（稀释后） | — | $-1.39 |
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ABNBCAG
| Q4 25 | $2.8B | $3.0B | ||
| Q3 25 | $4.1B | $2.6B | ||
| Q2 25 | $3.1B | $2.8B | ||
| Q1 25 | $2.3B | $2.8B | ||
| Q4 24 | $2.5B | $3.2B | ||
| Q3 24 | $3.7B | $2.8B | ||
| Q2 24 | $2.7B | $2.9B | ||
| Q1 24 | $2.1B | $3.0B |
净利润ABNBCAG
| Q4 25 | $341.0M | $-663.6M | ||
| Q3 25 | $1.4B | $164.5M | ||
| Q2 25 | $642.0M | $256.0M | ||
| Q1 25 | $154.0M | $145.1M | ||
| Q4 24 | $461.0M | $284.5M | ||
| Q3 24 | $1.4B | $466.8M | ||
| Q2 24 | $555.0M | $-567.3M | ||
| Q1 24 | $264.0M | $308.6M |
毛利率ABNBCAG
| Q4 25 | 82.5% | 23.4% | ||
| Q3 25 | 86.6% | 24.3% | ||
| Q2 25 | 82.4% | 25.4% | ||
| Q1 25 | 77.7% | 25.0% | ||
| Q4 24 | 82.8% | 26.5% | ||
| Q3 24 | 87.5% | 26.5% | ||
| Q2 24 | 81.6% | 27.7% | ||
| Q1 24 | 77.6% | 28.3% |
营业利润率ABNBCAG
| Q4 25 | 9.7% | -20.1% | ||
| Q3 25 | 39.7% | 13.2% | ||
| Q2 25 | 19.8% | 0.1% | ||
| Q1 25 | 1.7% | 13.9% | ||
| Q4 24 | 17.3% | 14.8% | ||
| Q3 24 | 40.9% | 17.7% | ||
| Q2 24 | 18.1% | -16.3% | ||
| Q1 24 | 4.7% | 19.1% |
净利率ABNBCAG
| Q4 25 | 12.3% | -22.3% | ||
| Q3 25 | 33.6% | 6.2% | ||
| Q2 25 | 20.7% | 9.2% | ||
| Q1 25 | 6.8% | 5.1% | ||
| Q4 24 | 18.6% | 8.9% | ||
| Q3 24 | 36.7% | 16.7% | ||
| Q2 24 | 20.2% | -19.5% | ||
| Q1 24 | 12.3% | 10.2% |
每股收益（稀释后）ABNBCAG
| Q4 25 | — | $-1.39 | ||
| Q3 25 | — | $0.34 | ||
| Q2 25 | — | $0.54 | ||
| Q1 25 | — | $0.30 | ||
| Q4 24 | — | $0.59 | ||
| Q3 24 | — | $0.97 | ||
| Q2 24 | — | $-1.19 | ||
| Q1 24 | — | $0.64 |
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 | $46.6M |
| 总债务越低越好 | — | $7.2B |
| 股东权益账面价值 | $8.2B | $8.1B |
| 总资产 | $22.2B | $19.5B |
| 负债/权益比越低杠杆越低 | — | 0.89× |
8季度趋势，按日历期对齐
现金及短期投资ABNBCAG
| Q4 25 | $11.0B | $46.6M | ||
| Q3 25 | $11.7B | $698.1M | ||
| Q2 25 | $11.4B | $68.0M | ||
| Q1 25 | $11.5B | $49.4M | ||
| Q4 24 | $10.6B | $37.4M | ||
| Q3 24 | $11.3B | $128.7M | ||
| Q2 24 | $11.3B | $77.7M | ||
| Q1 24 | $11.1B | $78.5M |
总债务ABNBCAG
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $8.2B | ||
| Q2 25 | — | $7.3B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $7.3B | ||
| Q3 24 | — | $7.5B | ||
| Q2 24 | — | $7.5B | ||
| Q1 24 | — | $8.5B |
股东权益ABNBCAG
| Q4 25 | $8.2B | $8.1B | ||
| Q3 25 | $8.6B | $8.9B | ||
| Q2 25 | $7.8B | $8.9B | ||
| Q1 25 | $7.9B | $8.8B | ||
| Q4 24 | $8.4B | $8.8B | ||
| Q3 24 | $8.5B | $8.7B | ||
| Q2 24 | $8.0B | $8.4B | ||
| Q1 24 | $7.9B | $9.2B |
总资产ABNBCAG
| Q4 25 | $22.2B | $19.5B | ||
| Q3 25 | $23.1B | $21.2B | ||
| Q2 25 | $27.0B | $20.9B | ||
| Q1 25 | $25.1B | $20.7B | ||
| Q4 24 | $21.0B | $21.0B | ||
| Q3 24 | $22.2B | $21.2B | ||
| Q2 24 | $26.3B | $20.9B | ||
| Q1 24 | $24.5B | $21.9B |
负债/权益比ABNBCAG
| Q4 25 | — | 0.89× | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.89× | ||
| Q1 24 | — | 0.93× |
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 | $210.6M |
| 自由现金流经营现金流 - 资本支出 | — | $138.8M |
| 自由现金流率自由现金流/营收 | — | 4.7% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 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 | — | $876.4M |
8季度趋势，按日历期对齐
经营现金流ABNBCAG
| Q4 25 | $526.0M | $210.6M | ||
| Q3 25 | $1.4B | $120.6M | ||
| Q2 25 | $975.0M | $345.7M | ||
| Q1 25 | $1.8B | $592.0M | ||
| Q4 24 | $466.0M | $485.6M | ||
| Q3 24 | $1.1B | $268.6M | ||
| Q2 24 | $1.1B | $484.3M | ||
| Q1 24 | $1.9B | $676.7M |
自由现金流ABNBCAG
| Q4 25 | — | $138.8M | ||
| Q3 25 | — | $-26.2M | ||
| Q2 25 | — | $260.6M | ||
| Q1 25 | — | $503.2M | ||
| Q4 24 | — | $403.2M | ||
| Q3 24 | — | $135.6M | ||
| Q2 24 | — | $405.8M | ||
| Q1 24 | — | $581.1M |
自由现金流率ABNBCAG
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | — | 9.4% | ||
| Q1 25 | — | 17.7% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | 14.0% | ||
| Q1 24 | — | 19.2% |
资本支出强度ABNBCAG
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 3.2% |
现金转化率ABNBCAG
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 0.73× | ||
| Q2 25 | 1.52× | 1.35× | ||
| Q1 25 | 11.62× | 4.08× | ||
| Q4 24 | 1.01× | 1.71× | ||
| Q3 24 | 0.79× | 0.58× | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 7.28× | 2.19× |
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% |
CAG
| Frozen | $1.1B | 35% |
| Other Shelf Stable | $625.2M | 21% |
| Snacks | $583.9M | 20% |
| Foodservice | $288.4M | 10% |
| Other | $230.4M | 8% |
| Refrigerated | $196.0M | 7% |
