vs
爱彼迎（ABNB）与CIENA CORP（CIEN）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CIENA CORP的2.3倍（$2.8B vs $1.2B）。爱彼迎净利率更高（12.3% vs 4.1%，领先8.1%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 3.9%）
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。
Ciena是总部位于美国马里兰州汉诺威的光网络系统及软件提供商，是光连接领域的核心参与者。截至2025年11月，公司营收达48亿美元，全球员工超9000人，由加里·史密斯担任总裁兼首席执行官。
ABNB vs CIEN — 直观对比
营收规模更大
ABNB
是对方的2.3倍
$1.2B
净利率更高
ABNB
高出8.1%
4.1%
两年增速更快
ABNB
近两年复合增速
3.9%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.2B |
| 净利润 | $341.0M | $50.3M |
| 毛利率 | 82.5% | 41.3% |
| 营业利润率 | 9.7% | 6.0% |
| 净利率 | 12.3% | 4.1% |
| 营收同比 | 12.0% | — |
| 净利润同比 | -26.0% | — |
| 每股收益（稀释后） | — | $0.35 |
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ABNBCIEN
| Q4 25 | $2.8B | — | ||
| Q3 25 | $4.1B | $1.2B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $2.3B | $1.1B | ||
| Q4 24 | $2.5B | $1.1B | ||
| Q3 24 | $3.7B | $942.3M | ||
| Q2 24 | $2.7B | $910.8M | ||
| Q1 24 | $2.1B | $1.0B |
净利润ABNBCIEN
| Q4 25 | $341.0M | — | ||
| Q3 25 | $1.4B | $50.3M | ||
| Q2 25 | $642.0M | $9.0M | ||
| Q1 25 | $154.0M | $44.6M | ||
| Q4 24 | $461.0M | $37.0M | ||
| Q3 24 | $1.4B | $14.2M | ||
| Q2 24 | $555.0M | $-16.8M | ||
| Q1 24 | $264.0M | $49.5M |
毛利率ABNBCIEN
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | 41.3% | ||
| Q2 25 | 82.4% | 40.2% | ||
| Q1 25 | 77.7% | 44.0% | ||
| Q4 24 | 82.8% | 40.9% | ||
| Q3 24 | 87.5% | 42.9% | ||
| Q2 24 | 81.6% | 42.7% | ||
| Q1 24 | 77.6% | 45.0% |
营业利润率ABNBCIEN
| Q4 25 | 9.7% | — | ||
| Q3 25 | 39.7% | 6.0% | ||
| Q2 25 | 19.8% | 2.9% | ||
| Q1 25 | 1.7% | 7.5% | ||
| Q4 24 | 17.3% | 5.3% | ||
| Q3 24 | 40.9% | 2.8% | ||
| Q2 24 | 18.1% | -0.4% | ||
| Q1 24 | 4.7% | 8.2% |
净利率ABNBCIEN
| Q4 25 | 12.3% | — | ||
| Q3 25 | 33.6% | 4.1% | ||
| Q2 25 | 20.7% | 0.8% | ||
| Q1 25 | 6.8% | 4.2% | ||
| Q4 24 | 18.6% | 3.3% | ||
| Q3 24 | 36.7% | 1.5% | ||
| Q2 24 | 20.2% | -1.8% | ||
| Q1 24 | 12.3% | 4.8% |
每股收益（稀释后）ABNBCIEN
| Q4 25 | — | — | ||
| Q3 25 | — | $0.35 | ||
| Q2 25 | — | $0.06 | ||
| Q1 25 | — | $0.31 | ||
| Q4 24 | — | $0.26 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $-0.12 | ||
| Q1 24 | — | $0.34 |
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 | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $2.8B |
| 总资产 | $22.2B | $5.7B |
| 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ABNBCIEN
| Q4 25 | $11.0B | — | ||
| Q3 25 | $11.7B | $1.3B | ||
| Q2 25 | $11.4B | $1.3B | ||
| Q1 25 | $11.5B | $1.2B | ||
| Q4 24 | $10.6B | $1.3B | ||
| Q3 24 | $11.3B | $1.1B | ||
| Q2 24 | $11.3B | $1.3B | ||
| Q1 24 | $11.1B | $1.4B |
股东权益ABNBCIEN
| Q4 25 | $8.2B | — | ||
| Q3 25 | $8.6B | $2.8B | ||
| Q2 25 | $7.8B | $2.8B | ||
| Q1 25 | $7.9B | $2.8B | ||
| Q4 24 | $8.4B | $2.8B | ||
| Q3 24 | $8.5B | $2.9B | ||
| Q2 24 | $8.0B | $2.9B | ||
| Q1 24 | $7.9B | $2.9B |
总资产ABNBCIEN
| Q4 25 | $22.2B | — | ||
| Q3 25 | $23.1B | $5.7B | ||
| Q2 25 | $27.0B | $5.7B | ||
| Q1 25 | $25.1B | $5.6B | ||
| Q4 24 | $21.0B | $5.6B | ||
| Q3 24 | $22.2B | $5.6B | ||
| Q2 24 | $26.3B | $5.6B | ||
| Q1 24 | $24.5B | $5.6B |
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 | $174.3M |
| 自由现金流经营现金流 - 资本支出 | — | $134.6M |
| 自由现金流率自由现金流/营收 | — | 11.0% |
| 资本支出强度资本支出/营收 | — | 3.3% |
| 现金转化率经营现金流/净利润 | 1.54× | 3.47× |
| 过去12个月自由现金流最近4个季度 | — | $605.5M |
8季度趋势，按日历期对齐
经营现金流ABNBCIEN
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | $174.3M | ||
| Q2 25 | $975.0M | $156.9M | ||
| Q1 25 | $1.8B | $103.7M | ||
| Q4 24 | $466.0M | $349.4M | ||
| Q3 24 | $1.1B | $-159.4M | ||
| Q2 24 | $1.1B | $58.5M | ||
| Q1 24 | $1.9B | $266.1M |
自由现金流ABNBCIEN
| Q4 25 | — | — | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $128.2M | ||
| Q1 25 | — | $76.8M | ||
| Q4 24 | — | $265.8M | ||
| Q3 24 | — | $-179.0M | ||
| Q2 24 | — | $41.6M | ||
| Q1 24 | — | $249.5M |
自由现金流率ABNBCIEN
| Q4 25 | — | — | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 11.4% | ||
| Q1 25 | — | 7.2% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | -19.0% | ||
| Q2 24 | — | 4.6% | ||
| Q1 24 | — | 24.0% |
资本支出强度ABNBCIEN
| Q4 25 | — | — | ||
| Q3 25 | — | 3.3% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 1.6% |
现金转化率ABNBCIEN
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 3.47× | ||
| Q2 25 | 1.52× | 17.50× | ||
| Q1 25 | 11.62× | 2.33× | ||
| Q4 24 | 1.01× | 9.44× | ||
| Q3 24 | 0.79× | -11.20× | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 7.28× | 5.37× |
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% |
CIEN
| Optical Networking | $815.5M | 67% |
| Routing And Switching | $125.9M | 10% |
| Platform Softwareand Services Segment | $90.0M | 7% |
| Maintenance Support And Training | $80.7M | 7% |
| Installation And Deployment | $65.9M | 5% |
| Blue Planet Automation Softwareand Services Segment | $27.8M | 2% |
| Consulting And Network Design | $13.6M | 1% |
