vs
爱彼迎（ABNB）与Churchill Downs Inc（CHDN）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Churchill Downs Inc的4.2倍（$2.8B vs $663.0M）。Churchill Downs Inc净利率更高（12.5% vs 12.3%，领先0.2%）。爱彼迎同比增速更快（12.0% vs 3.1%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -13.7%）
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。
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
ABNB vs CHDN — 直观对比
营收规模更大
ABNB
是对方的4.2倍
$663.0M
营收增速更快
ABNB
高出8.9%
3.1%
净利率更高
CHDN
高出0.2%
12.3%
两年增速更快
ABNB
近两年复合增速
-13.7%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $663.0M |
| 净利润 | $341.0M | $83.0M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 21.6% |
| 净利率 | 12.3% | 12.5% |
| 营收同比 | 12.0% | 3.1% |
| 净利润同比 | -26.0% | 7.8% |
| 每股收益（稀释后） | — | $1.16 |
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ABNBCHDN
| Q1 26 | — | $663.0M | ||
| Q4 25 | $2.8B | $665.9M | ||
| Q3 25 | $4.1B | $683.0M | ||
| Q2 25 | $3.1B | $934.4M | ||
| Q1 25 | $2.3B | $642.6M | ||
| Q4 24 | $2.5B | $624.2M | ||
| Q3 24 | $3.7B | $628.5M | ||
| Q2 24 | $2.7B | $890.7M |
净利润ABNBCHDN
| Q1 26 | — | $83.0M | ||
| Q4 25 | $341.0M | $51.3M | ||
| Q3 25 | $1.4B | $38.1M | ||
| Q2 25 | $642.0M | $216.9M | ||
| Q1 25 | $154.0M | $76.7M | ||
| Q4 24 | $461.0M | $71.7M | ||
| Q3 24 | $1.4B | $65.4M | ||
| Q2 24 | $555.0M | $209.3M |
毛利率ABNBCHDN
| Q1 26 | — | — | ||
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | — | ||
| Q2 25 | 82.4% | — | ||
| Q1 25 | 77.7% | — | ||
| Q4 24 | 82.8% | — | ||
| Q3 24 | 87.5% | — | ||
| Q2 24 | 81.6% | — |
营业利润率ABNBCHDN
| Q1 26 | — | 21.6% | ||
| Q4 25 | 9.7% | 18.5% | ||
| Q3 25 | 39.7% | 14.3% | ||
| Q2 25 | 19.8% | 35.1% | ||
| Q1 25 | 1.7% | 20.9% | ||
| Q4 24 | 17.3% | 20.3% | ||
| Q3 24 | 40.9% | 20.0% | ||
| Q2 24 | 18.1% | 37.0% |
净利率ABNBCHDN
| Q1 26 | — | 12.5% | ||
| Q4 25 | 12.3% | 7.7% | ||
| Q3 25 | 33.6% | 5.6% | ||
| Q2 25 | 20.7% | 23.2% | ||
| Q1 25 | 6.8% | 11.9% | ||
| Q4 24 | 18.6% | 11.5% | ||
| Q3 24 | 36.7% | 10.4% | ||
| Q2 24 | 20.2% | 23.5% |
每股收益（稀释后）ABNBCHDN
| Q1 26 | — | $1.16 | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $200.0M |
| 总债务越低越好 | — | $840.0M |
| 股东权益账面价值 | $8.2B | — |
| 总资产 | $22.2B | $7.5B |
| 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ABNBCHDN
| Q1 26 | — | $200.0M | ||
| Q4 25 | $11.0B | $200.6M | ||
| Q3 25 | $11.7B | $180.5M | ||
| Q2 25 | $11.4B | $182.4M | ||
| Q1 25 | $11.5B | $174.2M | ||
| Q4 24 | $10.6B | $175.5M | ||
| Q3 24 | $11.3B | $152.7M | ||
| Q2 24 | $11.3B | $140.3M |
总债务ABNBCHDN
| Q1 26 | — | $840.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ABNBCHDN
| Q1 26 | — | — | ||
| Q4 25 | $8.2B | $1.0B | ||
| Q3 25 | $8.6B | $1.0B | ||
| Q2 25 | $7.8B | $1.0B | ||
| Q1 25 | $7.9B | $1.1B | ||
| Q4 24 | $8.4B | $1.1B | ||
| Q3 24 | $8.5B | $1.1B | ||
| Q2 24 | $8.0B | $1.0B |
总资产ABNBCHDN
| Q1 26 | — | $7.5B | ||
| Q4 25 | $22.2B | $7.5B | ||
| Q3 25 | $23.1B | $7.5B | ||
| Q2 25 | $27.0B | $7.4B | ||
| Q1 25 | $25.1B | $7.3B | ||
| Q4 24 | $21.0B | $7.3B | ||
| Q3 24 | $22.2B | $7.2B | ||
| Q2 24 | $26.3B | $7.2B |
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 | $295.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.54× | 3.55× |
| 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ABNBCHDN
| Q1 26 | — | $295.0M | ||
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | $187.7M | ||
| Q2 25 | $975.0M | — | ||
| Q1 25 | $1.8B | $246.5M | ||
| Q4 24 | $466.0M | — | ||
| Q3 24 | $1.1B | $169.4M | ||
| Q2 24 | $1.1B | — |
自由现金流ABNBCHDN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $166.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $233.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $154.4M | ||
| Q2 24 | — | — |
自由现金流率ABNBCHDN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 36.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 24.6% | ||
| Q2 24 | — | — |
资本支出强度ABNBCHDN
| Q1 26 | — | — | ||
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 2.5% |
现金转化率ABNBCHDN
| Q1 26 | — | 3.55× | ||
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 4.93× | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | 3.21× | ||
| Q4 24 | 1.01× | — | ||
| Q3 24 | 0.79× | 2.59× | ||
| Q2 24 | 1.89× | — |
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% |
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
