vs
爱彼迎（ABNB）与CHOICE HOTELS INTERNATIONAL INC（CHH）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CHOICE HOTELS INTERNATIONAL INC的7.1倍（$2.8B vs $390.1M）。CHOICE HOTELS INTERNATIONAL INC净利率更高（16.3% vs 12.3%，领先4.0%）。爱彼迎同比增速更快（12.0% vs 0.1%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 8.4%）
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。
凯悦酒店国际集团（Choice Hotels International）是总部位于美国马里兰州北贝塞斯达的跨国酒店集团，为全球规模最大的酒店连锁企业之一，旗下拥有从高端到经济型的多元酒店品牌。截至2024年末，集团在全球46个国家和地区特许经营近7600家酒店，客房总数超65万间。
ABNB vs CHH — 直观对比
营收规模更大
ABNB
是对方的7.1倍
$390.1M
营收增速更快
ABNB
高出11.9%
0.1%
净利率更高
CHH
高出4.0%
12.3%
两年增速更快
ABNB
近两年复合增速
8.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $390.1M |
| 净利润 | $341.0M | $63.7M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 26.0% |
| 净利率 | 12.3% | 16.3% |
| 营收同比 | 12.0% | 0.1% |
| 净利润同比 | -26.0% | -16.0% |
| 每股收益（稀释后） | — | $1.35 |
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ABNBCHH
| Q4 25 | $2.8B | $390.1M | ||
| Q3 25 | $4.1B | $447.3M | ||
| Q2 25 | $3.1B | $426.4M | ||
| Q1 25 | $2.3B | $332.9M | ||
| Q4 24 | $2.5B | $389.8M | ||
| Q3 24 | $3.7B | $428.0M | ||
| Q2 24 | $2.7B | $435.2M | ||
| Q1 24 | $2.1B | $331.9M |
净利润ABNBCHH
| Q4 25 | $341.0M | $63.7M | ||
| Q3 25 | $1.4B | $180.0M | ||
| Q2 25 | $642.0M | $81.7M | ||
| Q1 25 | $154.0M | $44.5M | ||
| Q4 24 | $461.0M | $75.8M | ||
| Q3 24 | $1.4B | $105.7M | ||
| Q2 24 | $555.0M | $87.1M | ||
| Q1 24 | $264.0M | $31.0M |
毛利率ABNBCHH
| 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% | — | ||
| Q1 24 | 77.6% | — |
营业利润率ABNBCHH
| Q4 25 | 9.7% | 26.0% | ||
| Q3 25 | 39.7% | 31.8% | ||
| Q2 25 | 19.8% | 29.2% | ||
| Q1 25 | 1.7% | 24.0% | ||
| Q4 24 | 17.3% | 30.6% | ||
| Q3 24 | 40.9% | 35.5% | ||
| Q2 24 | 18.1% | 30.5% | ||
| Q1 24 | 4.7% | 18.1% |
净利率ABNBCHH
| Q4 25 | 12.3% | 16.3% | ||
| Q3 25 | 33.6% | 40.2% | ||
| Q2 25 | 20.7% | 19.2% | ||
| Q1 25 | 6.8% | 13.4% | ||
| Q4 24 | 18.6% | 19.4% | ||
| Q3 24 | 36.7% | 24.7% | ||
| Q2 24 | 20.2% | 20.0% | ||
| Q1 24 | 12.3% | 9.3% |
每股收益（稀释后）ABNBCHH
| Q4 25 | — | $1.35 | ||
| Q3 25 | — | $3.86 | ||
| Q2 25 | — | $1.75 | ||
| Q1 25 | — | $0.94 | ||
| Q4 24 | — | $1.56 | ||
| Q3 24 | — | $2.22 | ||
| Q2 24 | — | $1.80 | ||
| Q1 24 | — | $0.62 |
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 | $45.0M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $8.2B | $181.2M |
| 总资产 | $22.2B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 10.52× |
8季度趋势，按日历期对齐
现金及短期投资ABNBCHH
| Q4 25 | $11.0B | $45.0M | ||
| Q3 25 | $11.7B | $52.6M | ||
| Q2 25 | $11.4B | $58.6M | ||
| Q1 25 | $11.5B | $40.1M | ||
| Q4 24 | $10.6B | $40.2M | ||
| Q3 24 | $11.3B | $58.6M | ||
| Q2 24 | $11.3B | $60.4M | ||
| Q1 24 | $11.1B | $42.1M |
总债务ABNBCHH
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.7B |
股东权益ABNBCHH
| Q4 25 | $8.2B | $181.2M | ||
| Q3 25 | $8.6B | $149.8M | ||
| Q2 25 | $7.8B | $-26.2M | ||
| Q1 25 | $7.9B | $-63.9M | ||
| Q4 24 | $8.4B | $-45.3M | ||
| Q3 24 | $8.5B | $-96.2M | ||
| Q2 24 | $8.0B | $-146.8M | ||
| Q1 24 | $7.9B | $6.7M |
总资产ABNBCHH
| Q4 25 | $22.2B | $2.9B | ||
| Q3 25 | $23.1B | $2.9B | ||
| Q2 25 | $27.0B | $2.7B | ||
| Q1 25 | $25.1B | $2.6B | ||
| Q4 24 | $21.0B | $2.5B | ||
| Q3 24 | $22.2B | $2.5B | ||
| Q2 24 | $26.3B | $2.5B | ||
| Q1 24 | $24.5B | $2.5B |
负债/权益比ABNBCHH
| Q4 25 | — | 10.52× | ||
| Q3 25 | — | 12.81× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 252.00× |
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 | $85.7M |
| 自由现金流经营现金流 - 资本支出 | — | $64.1M |
| 自由现金流率自由现金流/营收 | — | 16.4% |
| 资本支出强度资本支出/营收 | — | 5.5% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.35× |
| 过去12个月自由现金流最近4个季度 | — | $163.6M |
8季度趋势，按日历期对齐
经营现金流ABNBCHH
| Q4 25 | $526.0M | $85.7M | ||
| Q3 25 | $1.4B | $68.7M | ||
| Q2 25 | $975.0M | $95.6M | ||
| Q1 25 | $1.8B | $20.5M | ||
| Q4 24 | $466.0M | $82.9M | ||
| Q3 24 | $1.1B | $122.9M | ||
| Q2 24 | $1.1B | $111.9M | ||
| Q1 24 | $1.9B | $1.7M |
自由现金流ABNBCHH
| Q4 25 | — | $64.1M | ||
| Q3 25 | — | $49.1M | ||
| Q2 25 | — | $65.4M | ||
| Q1 25 | — | $-15.0M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | — | $92.6M | ||
| Q2 24 | — | $86.6M | ||
| Q1 24 | — | $-23.8M |
自由现金流率ABNBCHH
| Q4 25 | — | 16.4% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 15.3% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 21.6% | ||
| Q2 24 | — | 19.9% | ||
| Q1 24 | — | -7.2% |
资本支出强度ABNBCHH
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 7.1% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 7.7% |
现金转化率ABNBCHH
| Q4 25 | 1.54× | 1.35× | ||
| Q3 25 | 0.99× | 0.38× | ||
| Q2 25 | 1.52× | 1.17× | ||
| Q1 25 | 11.62× | 0.46× | ||
| Q4 24 | 1.01× | 1.09× | ||
| Q3 24 | 0.79× | 1.16× | ||
| Q2 24 | 1.89× | 1.28× | ||
| Q1 24 | 7.28× | 0.06× |
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% |
CHH
| Franchise And Management Fees | $157.3M | 40% |
| Revenue For Reimbursable Costs From Franchised And Managed Properties | $156.0M | 40% |
| Partnership Services And Fees | $32.5M | 8% |
| Owned Hotels | $30.1M | 8% |
| Other Revenue Topic606And Not Topic606 | $14.3M | 4% |
