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爱彼迎（ABNB）与DoorDash（DASH）财务数据对比。点击上方公司名可切换其他公司
DoorDash的季度营收约是爱彼迎的1.4倍（$4.0B vs $2.8B），爱彼迎净利率更高（12.3% vs 5.4%，领先6.9%），DoorDash同比增速更快（37.7% vs 12.0%），过去两年DoorDash的营收复合增速更高（25.5% vs 13.9%）
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。
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
ABNB vs DASH — 直观对比
营收规模更大
DASH
是对方的1.4倍
$2.8B
营收增速更快
DASH
高出25.6%
12.0%
净利率更高
ABNB
高出6.9%
5.4%
两年增速更快
DASH
近两年复合增速
13.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.0B |
| 净利润 | $341.0M | $213.0M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 3.7% |
| 净利率 | 12.3% | 5.4% |
| 营收同比 | 12.0% | 37.7% |
| 净利润同比 | -26.0% | 51.1% |
| 每股收益（稀释后） | — | $0.49 |
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ABNBDASH
| Q4 25 | $2.8B | $4.0B | ||
| Q3 25 | $4.1B | $3.4B | ||
| Q2 25 | $3.1B | $3.3B | ||
| Q1 25 | $2.3B | $3.0B | ||
| Q4 24 | $2.5B | $2.9B | ||
| Q3 24 | $3.7B | $2.7B | ||
| Q2 24 | $2.7B | $2.6B | ||
| Q1 24 | $2.1B | $2.5B |
净利润ABNBDASH
| Q4 25 | $341.0M | $213.0M | ||
| Q3 25 | $1.4B | $244.0M | ||
| Q2 25 | $642.0M | $285.0M | ||
| Q1 25 | $154.0M | $193.0M | ||
| Q4 24 | $461.0M | $141.0M | ||
| Q3 24 | $1.4B | $162.0M | ||
| Q2 24 | $555.0M | $-157.0M | ||
| Q1 24 | $264.0M | $-23.0M |
毛利率ABNBDASH
| 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ABNBDASH
| Q4 25 | 9.7% | 3.7% | ||
| Q3 25 | 39.7% | 7.5% | ||
| Q2 25 | 19.8% | 5.0% | ||
| Q1 25 | 1.7% | 5.1% | ||
| Q4 24 | 17.3% | 4.1% | ||
| Q3 24 | 40.9% | 4.0% | ||
| Q2 24 | 18.1% | -7.6% | ||
| Q1 24 | 4.7% | -2.4% |
净利率ABNBDASH
| Q4 25 | 12.3% | 5.4% | ||
| Q3 25 | 33.6% | 7.1% | ||
| Q2 25 | 20.7% | 8.7% | ||
| Q1 25 | 6.8% | 6.4% | ||
| Q4 24 | 18.6% | 4.9% | ||
| Q3 24 | 36.7% | 6.0% | ||
| Q2 24 | 20.2% | -6.0% | ||
| Q1 24 | 12.3% | -0.9% |
每股收益（稀释后）ABNBDASH
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | — | $0.65 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | — | $0.38 | ||
| Q2 24 | — | $-0.38 | ||
| Q1 24 | — | $-0.06 |
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 | $4.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $10.0B |
| 总资产 | $22.2B | $19.7B |
| 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ABNBDASH
| Q4 25 | $11.0B | $4.4B | ||
| Q3 25 | $11.7B | $3.3B | ||
| Q2 25 | $11.4B | $3.9B | ||
| Q1 25 | $11.5B | $4.5B | ||
| Q4 24 | $10.6B | $4.0B | ||
| Q3 24 | $11.3B | $3.7B | ||
| Q2 24 | $11.3B | $3.4B | ||
| Q1 24 | $11.1B | $3.1B |
股东权益ABNBDASH
| Q4 25 | $8.2B | $10.0B | ||
| Q3 25 | $8.6B | $9.5B | ||
| Q2 25 | $7.8B | $8.9B | ||
| Q1 25 | $7.9B | $8.4B | ||
| Q4 24 | $8.4B | $7.8B | ||
| Q3 24 | $8.5B | $7.6B | ||
| Q2 24 | $8.0B | $7.2B | ||
| Q1 24 | $7.9B | $7.0B |
总资产ABNBDASH
| Q4 25 | $22.2B | $19.7B | ||
| Q3 25 | $23.1B | $18.0B | ||
| Q2 25 | $27.0B | $16.9B | ||
| Q1 25 | $25.1B | $13.6B | ||
| Q4 24 | $21.0B | $12.8B | ||
| Q3 24 | $22.2B | $12.3B | ||
| Q2 24 | $26.3B | $11.8B | ||
| Q1 24 | $24.5B | $11.4B |
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 | $421.0M |
| 自由现金流经营现金流 - 资本支出 | — | $367.0M |
| 自由现金流率自由现金流/营收 | — | 9.3% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.98× |
| 过去12个月自由现金流最近4个季度 | — | $2.2B |
8季度趋势，按日历期对齐
经营现金流ABNBDASH
| Q4 25 | $526.0M | $421.0M | ||
| Q3 25 | $1.4B | $871.0M | ||
| Q2 25 | $975.0M | $504.0M | ||
| Q1 25 | $1.8B | $635.0M | ||
| Q4 24 | $466.0M | $518.0M | ||
| Q3 24 | $1.1B | $531.0M | ||
| Q2 24 | $1.1B | $530.0M | ||
| Q1 24 | $1.9B | $553.0M |
自由现金流ABNBDASH
| Q4 25 | — | $367.0M | ||
| Q3 25 | — | $808.0M | ||
| Q2 25 | — | $438.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | — | $486.0M | ||
| Q3 24 | — | $499.0M | ||
| Q2 24 | — | $507.0M | ||
| Q1 24 | — | $536.0M |
自由现金流率ABNBDASH
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 23.4% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 18.5% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 19.3% | ||
| Q1 24 | — | 21.3% |
资本支出强度ABNBDASH
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 0.7% |
现金转化率ABNBDASH
| Q4 25 | 1.54× | 1.98× | ||
| Q3 25 | 0.99× | 3.57× | ||
| Q2 25 | 1.52× | 1.77× | ||
| Q1 25 | 11.62× | 3.29× | ||
| Q4 24 | 1.01× | 3.67× | ||
| Q3 24 | 0.79× | 3.28× | ||
| Q2 24 | 1.89× | — | ||
| 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% |
DASH
暂无分部数据
