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爱彼迎（ABNB）与CNH Industrial N.V.（CNH）财务数据对比。点击上方公司名可切换其他公司
CNH Industrial N.V.的季度营收约是爱彼迎的1.6倍（$4.5B vs $2.8B），爱彼迎净利率更高（12.3% vs 1.9%，领先10.3%），爱彼迎同比增速更快（12.0% vs 7.8%），过去两年爱彼迎的营收复合增速更高（13.9% vs 3.8%）
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。
CNH Industrial是意美跨国企业，全球总部位于英国巴西尔登，由跨国投资公司Exor控股，实际控制方为阿涅利家族。公司核心业务涵盖农业机械、工程设备的设计、生产及销售，覆盖全球所有主要市场，目前正重点拓展高增长市场的业务布局。
ABNB vs CNH — 直观对比
营收规模更大
CNH
是对方的1.6倍
$2.8B
营收增速更快
ABNB
高出4.2%
7.8%
净利率更高
ABNB
高出10.3%
1.9%
两年增速更快
ABNB
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.5B |
| 净利润 | $341.0M | $86.0M |
| 毛利率 | 82.5% | 18.4% |
| 营业利润率 | 9.7% | 3.0% |
| 净利率 | 12.3% | 1.9% |
| 营收同比 | 12.0% | 7.8% |
| 净利润同比 | -26.0% | -18.9% |
| 每股收益（稀释后） | — | $0.08 |
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ABNBCNH
| Q4 25 | $2.8B | $4.5B | ||
| Q3 25 | $4.1B | $3.7B | ||
| Q2 25 | $3.1B | $4.0B | ||
| Q1 25 | $2.3B | $3.2B | ||
| Q4 24 | $2.5B | $4.1B | ||
| Q3 24 | $3.7B | $4.0B | ||
| Q2 24 | $2.7B | $4.8B | ||
| Q1 24 | $2.1B | $4.1B |
净利润ABNBCNH
| Q4 25 | $341.0M | $86.0M | ||
| Q3 25 | $1.4B | $80.0M | ||
| Q2 25 | $642.0M | $213.0M | ||
| Q1 25 | $154.0M | $131.0M | ||
| Q4 24 | $461.0M | $106.0M | ||
| Q3 24 | $1.4B | $306.0M | ||
| Q2 24 | $555.0M | $433.0M | ||
| Q1 24 | $264.0M | $401.0M |
毛利率ABNBCNH
| Q4 25 | 82.5% | 18.4% | ||
| Q3 25 | 86.6% | 19.1% | ||
| Q2 25 | 82.4% | 20.6% | ||
| Q1 25 | 77.7% | 19.0% | ||
| Q4 24 | 82.8% | 19.5% | ||
| Q3 24 | 87.5% | 21.7% | ||
| Q2 24 | 81.6% | 22.9% | ||
| Q1 24 | 77.6% | 22.7% |
营业利润率ABNBCNH
| Q4 25 | 9.7% | 3.0% | ||
| Q3 25 | 39.7% | 1.4% | ||
| Q2 25 | 19.8% | 6.8% | ||
| Q1 25 | 1.7% | 5.1% | ||
| Q4 24 | 17.3% | 5.8% | ||
| Q3 24 | 40.9% | 9.6% | ||
| Q2 24 | 18.1% | 11.1% | ||
| Q1 24 | 4.7% | 11.6% |
净利率ABNBCNH
| Q4 25 | 12.3% | 1.9% | ||
| Q3 25 | 33.6% | 2.2% | ||
| Q2 25 | 20.7% | 5.3% | ||
| Q1 25 | 6.8% | 4.1% | ||
| Q4 24 | 18.6% | 2.6% | ||
| Q3 24 | 36.7% | 7.7% | ||
| Q2 24 | 20.2% | 9.0% | ||
| Q1 24 | 12.3% | 9.7% |
每股收益（稀释后）ABNBCNH
| Q4 25 | — | $0.08 | ||
| Q3 25 | — | $0.06 | ||
| Q2 25 | — | $0.17 | ||
| Q1 25 | — | $0.10 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | — | $0.34 | ||
| Q1 24 | — | $0.31 |
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 | $2.6B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $7.8B |
| 总资产 | $22.2B | $42.7B |
| 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ABNBCNH
| Q4 25 | $11.0B | $2.6B | ||
| Q3 25 | $11.7B | $2.3B | ||
| Q2 25 | $11.4B | $2.5B | ||
| Q1 25 | $11.5B | $1.7B | ||
| Q4 24 | $10.6B | $3.2B | ||
| Q3 24 | $11.3B | $1.8B | ||
| Q2 24 | $11.3B | $2.0B | ||
| Q1 24 | $11.1B | $3.2B |
股东权益ABNBCNH
| Q4 25 | $8.2B | $7.8B | ||
| Q3 25 | $8.6B | $7.8B | ||
| Q2 25 | $7.8B | $7.8B | ||
| Q1 25 | $7.9B | $7.9B | ||
| Q4 24 | $8.4B | $7.7B | ||
| Q3 24 | $8.5B | $7.7B | ||
| Q2 24 | $8.0B | $7.6B | ||
| Q1 24 | $7.9B | $8.0B |
总资产ABNBCNH
| Q4 25 | $22.2B | $42.7B | ||
| Q3 25 | $23.1B | $43.3B | ||
| Q2 25 | $27.0B | $43.7B | ||
| Q1 25 | $25.1B | $42.1B | ||
| Q4 24 | $21.0B | $42.9B | ||
| Q3 24 | $22.2B | $44.0B | ||
| Q2 24 | $26.3B | $44.0B | ||
| Q1 24 | $24.5B | $45.7B |
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 | $945.0M |
| 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× | 10.99× |
| 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ABNBCNH
| Q4 25 | $526.0M | $945.0M | ||
| Q3 25 | $1.4B | $659.0M | ||
| Q2 25 | $975.0M | $772.0M | ||
| Q1 25 | $1.8B | $162.0M | ||
| Q4 24 | $466.0M | $1.7B | ||
| Q3 24 | $1.1B | $791.0M | ||
| Q2 24 | $1.1B | $379.0M | ||
| Q1 24 | $1.9B | $-894.0M |
现金转化率ABNBCNH
| Q4 25 | 1.54× | 10.99× | ||
| Q3 25 | 0.99× | 8.24× | ||
| Q2 25 | 1.52× | 3.62× | ||
| Q1 25 | 11.62× | 1.24× | ||
| Q4 24 | 1.01× | 15.96× | ||
| Q3 24 | 0.79× | 2.58× | ||
| Q2 24 | 1.89× | 0.88× | ||
| Q1 24 | 7.28× | -2.23× |
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% |
CNH
| Agricultural Equipment Segment | $3.6B | 81% |
| Construction Equipment Segment | $853.0M | 19% |
| Services | $18.0M | 0% |
