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爱彼迎（ABNB）与Designer Brands Inc.（DBI）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Designer Brands Inc.的3.7倍（$2.8B vs $752.4M）。爱彼迎净利率更高（12.3% vs 2.4%，领先9.9%）。爱彼迎同比增速更快（12.0% vs -3.2%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -0.1%）
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。
Designer Brands Inc.是一家美国鞋履及时尚配饰零售商，主打销售设计师品牌与知名品牌商品，旗下拥有知名连锁零售品牌DSW（设计师鞋履仓库），目前在美国经营超过500家线下门店，同时运营线上电商平台。
ABNB vs DBI — 直观对比
营收规模更大
ABNB
是对方的3.7倍
$752.4M
营收增速更快
ABNB
高出15.2%
-3.2%
净利率更高
ABNB
高出9.9%
2.4%
两年增速更快
ABNB
近两年复合增速
-0.1%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $752.4M |
| 净利润 | $341.0M | $18.2M |
| 毛利率 | 82.5% | 45.1% |
| 营业利润率 | 9.7% | 5.7% |
| 净利率 | 12.3% | 2.4% |
| 营收同比 | 12.0% | -3.2% |
| 净利润同比 | -26.0% | 40.0% |
| 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ABNBDBI
| Q4 25 | $2.8B | $752.4M | ||
| Q3 25 | $4.1B | $739.8M | ||
| Q2 25 | $3.1B | $686.9M | ||
| Q1 25 | $2.3B | $713.6M | ||
| Q4 24 | $2.5B | $777.2M | ||
| Q3 24 | $3.7B | $771.9M | ||
| Q2 24 | $2.7B | $746.6M | ||
| Q1 24 | $2.1B | $754.3M |
净利润ABNBDBI
| Q4 25 | $341.0M | $18.2M | ||
| Q3 25 | $1.4B | $10.8M | ||
| Q2 25 | $642.0M | $-17.4M | ||
| Q1 25 | $154.0M | $-38.2M | ||
| Q4 24 | $461.0M | $13.0M | ||
| Q3 24 | $1.4B | $13.8M | ||
| Q2 24 | $555.0M | $783.0K | ||
| Q1 24 | $264.0M | $-29.6M |
毛利率ABNBDBI
| Q4 25 | 82.5% | 45.1% | ||
| Q3 25 | 86.6% | 43.7% | ||
| Q2 25 | 82.4% | 43.0% | ||
| Q1 25 | 77.7% | 75.7% | ||
| Q4 24 | 82.8% | 43.0% | ||
| Q3 24 | 87.5% | 44.0% | ||
| Q2 24 | 81.6% | 44.2% | ||
| Q1 24 | 77.6% | 38.8% |
营业利润率ABNBDBI
| Q4 25 | 9.7% | 5.7% | ||
| Q3 25 | 39.7% | 3.6% | ||
| Q2 25 | 19.8% | -1.1% | ||
| Q1 25 | 1.7% | -3.6% | ||
| Q4 24 | 17.3% | 2.9% | ||
| Q3 24 | 40.9% | 3.7% | ||
| Q2 24 | 18.1% | 1.3% | ||
| Q1 24 | 4.7% | -4.8% |
净利率ABNBDBI
| Q4 25 | 12.3% | 2.4% | ||
| Q3 25 | 33.6% | 1.5% | ||
| Q2 25 | 20.7% | -2.5% | ||
| Q1 25 | 6.8% | -5.3% | ||
| Q4 24 | 18.6% | 1.7% | ||
| Q3 24 | 36.7% | 1.8% | ||
| Q2 24 | 20.2% | 0.1% | ||
| Q1 24 | 12.3% | -3.9% |
每股收益（稀释后）ABNBDBI
| Q4 25 | — | $0.35 | ||
| Q3 25 | — | $0.22 | ||
| Q2 25 | — | $-0.36 | ||
| Q1 25 | — | $-0.69 | ||
| Q4 24 | — | $0.24 | ||
| Q3 24 | — | $0.24 | ||
| Q2 24 | — | $0.01 | ||
| Q1 24 | — | $-899.54 |
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 | $51.4M |
| 总债务越低越好 | — | $463.1M |
| 股东权益账面价值 | $8.2B | $298.6M |
| 总资产 | $22.2B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资ABNBDBI
| Q4 25 | $11.0B | $51.4M | ||
| Q3 25 | $11.7B | $44.9M | ||
| Q2 25 | $11.4B | $46.0M | ||
| Q1 25 | $11.5B | $44.8M | ||
| Q4 24 | $10.6B | $36.2M | ||
| Q3 24 | $11.3B | $38.8M | ||
| Q2 24 | $11.3B | $43.4M | ||
| Q1 24 | $11.1B | $49.2M |
总债务ABNBDBI
| Q4 25 | — | $463.1M | ||
| Q3 25 | — | $509.6M | ||
| Q2 25 | — | $516.2M | ||
| Q1 25 | — | $484.3M | ||
| Q4 24 | — | $529.6M | ||
| Q3 24 | — | $459.0M | ||
| Q2 24 | — | $469.3M | ||
| Q1 24 | — | $420.3M |
股东权益ABNBDBI
| Q4 25 | $8.2B | $298.6M | ||
| Q3 25 | $8.6B | $280.8M | ||
| Q2 25 | $7.8B | $266.9M | ||
| Q1 25 | $7.9B | $278.5M | ||
| Q4 24 | $8.4B | $318.5M | ||
| Q3 24 | $8.5B | $355.5M | ||
| Q2 24 | $8.0B | $358.5M | ||
| Q1 24 | $7.9B | $359.2M |
总资产ABNBDBI
| Q4 25 | $22.2B | $2.1B | ||
| Q3 25 | $23.1B | $2.1B | ||
| Q2 25 | $27.0B | $2.1B | ||
| Q1 25 | $25.1B | $2.0B | ||
| Q4 24 | $21.0B | $2.1B | ||
| Q3 24 | $22.2B | $2.1B | ||
| Q2 24 | $26.3B | $2.2B | ||
| Q1 24 | $24.5B | $2.1B |
负债/权益比ABNBDBI
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | 1.81× | ||
| Q2 25 | — | 1.93× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.66× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.31× | ||
| Q1 24 | — | 1.17× |
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 | $66.5M |
| 自由现金流经营现金流 - 资本支出 | — | $57.5M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 1.54× | 3.65× |
| 过去12个月自由现金流最近4个季度 | — | $99.9M |
8季度趋势，按日历期对齐
经营现金流ABNBDBI
| Q4 25 | $526.0M | $66.5M | ||
| Q3 25 | $1.4B | $21.4M | ||
| Q2 25 | $975.0M | $-20.4M | ||
| Q1 25 | $1.8B | $70.1M | ||
| Q4 24 | $466.0M | $-9.8M | ||
| Q3 24 | $1.1B | $41.6M | ||
| Q2 24 | $1.1B | $-19.7M | ||
| Q1 24 | $1.9B | $-40.1M |
自由现金流ABNBDBI
| Q4 25 | — | $57.5M | ||
| Q3 25 | — | $11.9M | ||
| Q2 25 | — | $-27.6M | ||
| Q1 25 | — | $58.1M | ||
| Q4 24 | — | $-19.2M | ||
| Q3 24 | — | $28.0M | ||
| Q2 24 | — | $-35.6M | ||
| Q1 24 | — | $-52.8M |
自由现金流率ABNBDBI
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | -4.0% | ||
| Q1 25 | — | 8.1% | ||
| Q4 24 | — | -2.5% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | -4.8% | ||
| Q1 24 | — | -7.0% |
资本支出强度ABNBDBI
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 1.7% |
现金转化率ABNBDBI
| Q4 25 | 1.54× | 3.65× | ||
| Q3 25 | 0.99× | 1.98× | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | -0.75× | ||
| Q3 24 | 0.79× | 3.01× | ||
| Q2 24 | 1.89× | -25.13× | ||
| 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% |
DBI
| Womens | $280.7M | 37% |
| Athletic Footwear | $188.6M | 25% |
| Wholesale | $89.8M | 12% |
| Canada Retail Segment | $77.3M | 10% |
| Mens | $76.1M | 10% |
| Kids | $24.2M | 3% |
| Commission Income | $10.8M | 1% |
| Directto Consumer | $1.3M | 0% |
