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爱彼迎（ABNB）与Core & Main, Inc.（CNM）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Core & Main, Inc.的1.3倍（$2.8B vs $2.1B）。爱彼迎净利率更高（12.3% vs 6.6%，领先5.6%）。Core & Main, Inc.同比增速更快（43.2% vs 12.0%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 8.8%）
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。
Core & Main, Inc.总部位于美国密苏里州圣路易斯，是美国专业的水务及相关防护产品分销商，主营供水、污水处理、雨水排放、消防防护类产品，客户覆盖市政部门、私营水务企业及专业承包商，在全美49个州设有370个分支机构，服务6万客户，在售产品达22.5万种。
ABNB vs CNM — 直观对比
营收规模更大
ABNB
是对方的1.3倍
$2.1B
营收增速更快
CNM
高出31.2%
12.0%
净利率更高
ABNB
高出5.6%
6.6%
两年增速更快
ABNB
近两年复合增速
8.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.1B |
| 净利润 | $341.0M | $137.0M |
| 毛利率 | 82.5% | 27.2% |
| 营业利润率 | 9.7% | 10.7% |
| 净利率 | 12.3% | 6.6% |
| 营收同比 | 12.0% | 43.2% |
| 净利润同比 | -26.0% | 117.5% |
| 每股收益（稀释后） | — | $0.72 |
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ABNBCNM
| Q4 25 | $2.8B | $2.1B | ||
| Q3 25 | $4.1B | $2.1B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $2.3B | $1.7B | ||
| Q4 24 | $2.5B | $2.0B | ||
| Q3 24 | $3.7B | $2.0B | ||
| Q2 24 | $2.7B | $1.7B | ||
| Q1 24 | $2.1B | — |
净利润ABNBCNM
| Q4 25 | $341.0M | $137.0M | ||
| Q3 25 | $1.4B | $134.0M | ||
| Q2 25 | $642.0M | $100.0M | ||
| Q1 25 | $154.0M | $64.0M | ||
| Q4 24 | $461.0M | $133.0M | ||
| Q3 24 | $1.4B | $119.0M | ||
| Q2 24 | $555.0M | $95.0M | ||
| Q1 24 | $264.0M | — |
毛利率ABNBCNM
| Q4 25 | 82.5% | 27.2% | ||
| Q3 25 | 86.6% | 26.8% | ||
| Q2 25 | 82.4% | 26.7% | ||
| Q1 25 | 77.7% | 26.6% | ||
| Q4 24 | 82.8% | 26.6% | ||
| Q3 24 | 87.5% | 26.4% | ||
| Q2 24 | 81.6% | 26.9% | ||
| Q1 24 | 77.6% | — |
营业利润率ABNBCNM
| Q4 25 | 9.7% | 10.7% | ||
| Q3 25 | 39.7% | 10.2% | ||
| Q2 25 | 19.8% | 8.9% | ||
| Q1 25 | 1.7% | 7.3% | ||
| Q4 24 | 17.3% | 10.9% | ||
| Q3 24 | 40.9% | 10.4% | ||
| Q2 24 | 18.1% | 9.6% | ||
| Q1 24 | 4.7% | — |
净利率ABNBCNM
| Q4 25 | 12.3% | 6.6% | ||
| Q3 25 | 33.6% | 6.4% | ||
| Q2 25 | 20.7% | 5.2% | ||
| Q1 25 | 6.8% | 3.8% | ||
| Q4 24 | 18.6% | 6.5% | ||
| Q3 24 | 36.7% | 6.1% | ||
| Q2 24 | 20.2% | 5.5% | ||
| Q1 24 | 12.3% | — |
每股收益（稀释后）ABNBCNM
| Q4 25 | — | $0.72 | ||
| Q3 25 | — | $0.70 | ||
| Q2 25 | — | $0.52 | ||
| Q1 25 | — | $0.34 | ||
| Q4 24 | — | $0.69 | ||
| Q3 24 | — | $0.61 | ||
| Q2 24 | — | $0.49 | ||
| Q1 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 | $89.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $2.0B |
| 总资产 | $22.2B | $6.3B |
| 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ABNBCNM
| Q4 25 | $11.0B | $89.0M | ||
| Q3 25 | $11.7B | $25.0M | ||
| Q2 25 | $11.4B | $8.0M | ||
| Q1 25 | $11.5B | $8.0M | ||
| Q4 24 | $10.6B | $10.0M | ||
| Q3 24 | $11.3B | $13.0M | ||
| Q2 24 | $11.3B | $30.0M | ||
| Q1 24 | $11.1B | — |
股东权益ABNBCNM
| Q4 25 | $8.2B | $2.0B | ||
| Q3 25 | $8.6B | $1.9B | ||
| Q2 25 | $7.8B | $1.7B | ||
| Q1 25 | $7.9B | $1.7B | ||
| Q4 24 | $8.4B | $1.7B | ||
| Q3 24 | $8.5B | $1.6B | ||
| Q2 24 | $8.0B | $1.6B | ||
| Q1 24 | $7.9B | — |
总资产ABNBCNM
| Q4 25 | $22.2B | $6.3B | ||
| Q3 25 | $23.1B | $6.3B | ||
| Q2 25 | $27.0B | $6.3B | ||
| Q1 25 | $25.1B | $5.9B | ||
| Q4 24 | $21.0B | $6.2B | ||
| Q3 24 | $22.2B | $6.1B | ||
| Q2 24 | $26.3B | $6.0B | ||
| Q1 24 | $24.5B | — |
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 | — |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | — | $575.0M |
8季度趋势，按日历期对齐
经营现金流ABNBCNM
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | $34.0M | ||
| Q2 25 | $975.0M | $77.0M | ||
| Q1 25 | $1.8B | $235.0M | ||
| Q4 24 | $466.0M | $260.0M | ||
| Q3 24 | $1.1B | $48.0M | ||
| Q2 24 | $1.1B | $78.0M | ||
| Q1 24 | $1.9B | — |
自由现金流ABNBCNM
| Q4 25 | — | — | ||
| Q3 25 | — | $24.0M | ||
| Q2 25 | — | $64.0M | ||
| Q1 25 | — | $224.0M | ||
| Q4 24 | — | $252.0M | ||
| Q3 24 | — | $39.0M | ||
| Q2 24 | — | $71.0M | ||
| Q1 24 | — | — |
自由现金流率ABNBCNM
| Q4 25 | — | — | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 13.2% | ||
| Q4 24 | — | 12.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | — |
资本支出强度ABNBCNM
| Q4 25 | — | — | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | — |
现金转化率ABNBCNM
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 0.25× | ||
| Q2 25 | 1.52× | 0.77× | ||
| Q1 25 | 11.62× | 3.67× | ||
| Q4 24 | 1.01× | 1.95× | ||
| Q3 24 | 0.79× | 0.40× | ||
| Q2 24 | 1.89× | 0.82× | ||
| Q1 24 | 7.28× | — |
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% |
CNM
| Pipes Valves And Fitting Products | $1.4B | 67% |
| Storm Drainage Products | $333.0M | 16% |
| Meter Products | $195.0M | 9% |
| Fire Protection Products | $152.0M | 7% |
