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爱彼迎（ABNB）与艺康（ECL）财务数据对比。点击上方公司名可切换其他公司
艺康的季度营收约是爱彼迎的1.5倍（$4.1B vs $2.8B），爱彼迎净利率更高（12.3% vs 10.6%，领先1.6%），爱彼迎同比增速更快（12.0% vs 10.0%），过去两年爱彼迎的营收复合增速更高（13.9% vs 1.0%）
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。
艺康（Ecolab）总部位于美国明尼苏达州圣保罗市，是全球领先的水处理、清洁消毒与卫生防护产品提供商，核心客户群体覆盖各领域商业机构与工业企业，可助力客户提升运营效率、保障公共卫生安全、实现可持续发展。
ABNB vs ECL — 直观对比
营收规模更大
ECL
是对方的1.5倍
$2.8B
营收增速更快
ABNB
高出2.0%
10.0%
净利率更高
ABNB
高出1.6%
10.6%
两年增速更快
ABNB
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.1B |
| 净利润 | $341.0M | $432.6M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 15.3% |
| 净利率 | 12.3% | 10.6% |
| 营收同比 | 12.0% | 10.0% |
| 净利润同比 | -26.0% | 1.3% |
| 每股收益（稀释后） | — | $1.52 |
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ABNBECL
| Q2 26 | — | $4.1B | ||
| Q4 25 | $2.8B | $4.2B | ||
| Q3 25 | $4.1B | $4.2B | ||
| Q2 25 | $3.1B | $4.0B | ||
| Q1 25 | $2.3B | $3.7B | ||
| Q4 24 | $2.5B | $4.0B | ||
| Q3 24 | $3.7B | $4.0B | ||
| Q2 24 | $2.7B | $4.0B |
净利润ABNBECL
| Q2 26 | — | $432.6M | ||
| Q4 25 | $341.0M | $563.9M | ||
| Q3 25 | $1.4B | $585.0M | ||
| Q2 25 | $642.0M | $524.2M | ||
| Q1 25 | $154.0M | $402.5M | ||
| Q4 24 | $461.0M | $472.9M | ||
| Q3 24 | $1.4B | $736.5M | ||
| Q2 24 | $555.0M | $490.9M |
毛利率ABNBECL
| Q2 26 | — | — | ||
| Q4 25 | 82.5% | 44.0% | ||
| Q3 25 | 86.6% | 44.8% | ||
| Q2 25 | 82.4% | 44.8% | ||
| Q1 25 | 77.7% | 44.2% | ||
| Q4 24 | 82.8% | 43.3% | ||
| Q3 24 | 87.5% | 43.4% | ||
| Q2 24 | 81.6% | 43.8% |
营业利润率ABNBECL
| Q2 26 | — | 15.3% | ||
| Q4 25 | 9.7% | 17.0% | ||
| Q3 25 | 39.7% | 18.3% | ||
| Q2 25 | 19.8% | 17.6% | ||
| Q1 25 | 1.7% | 15.0% | ||
| Q4 24 | 17.3% | 14.6% | ||
| Q3 24 | 40.9% | 26.1% | ||
| Q2 24 | 18.1% | 16.5% |
净利率ABNBECL
| Q2 26 | — | 10.6% | ||
| Q4 25 | 12.3% | 13.4% | ||
| Q3 25 | 33.6% | 14.0% | ||
| Q2 25 | 20.7% | 13.0% | ||
| Q1 25 | 6.8% | 10.9% | ||
| Q4 24 | 18.6% | 11.8% | ||
| Q3 24 | 36.7% | 18.4% | ||
| Q2 24 | 20.2% | 12.3% |
每股收益（稀释后）ABNBECL
| Q2 26 | — | $1.52 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | — | $2.05 | ||
| Q2 25 | — | $1.84 | ||
| Q1 25 | — | $1.41 | ||
| Q4 24 | — | $1.65 | ||
| Q3 24 | — | $2.58 | ||
| Q2 24 | — | $1.71 |
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 | $519.8K |
| 总债务越低越好 | — | $8.5M |
| 股东权益账面价值 | $8.2B | $10.0M |
| 总资产 | $22.2B | $25.0M |
| 负债/权益比越低杠杆越低 | — | 0.85× |
8季度趋势，按日历期对齐
现金及短期投资ABNBECL
| Q2 26 | — | $519.8K | ||
| Q4 25 | $11.0B | $646.2M | ||
| Q3 25 | $11.7B | $2.0B | ||
| Q2 25 | $11.4B | $1.9B | ||
| Q1 25 | $11.5B | $1.2B | ||
| Q4 24 | $10.6B | $1.3B | ||
| Q3 24 | $11.3B | $1.3B | ||
| Q2 24 | $11.3B | $384.0M |
总债务ABNBECL
| Q2 26 | — | $8.5M | ||
| Q4 25 | — | $7.4B | ||
| Q3 25 | — | $8.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | — | $7.0B | ||
| Q4 24 | — | $6.9B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $7.5B |
股东权益ABNBECL
| Q2 26 | — | $10.0M | ||
| Q4 25 | $8.2B | $9.8B | ||
| Q3 25 | $8.6B | $9.7B | ||
| Q2 25 | $7.8B | $9.3B | ||
| Q1 25 | $7.9B | $8.9B | ||
| Q4 24 | $8.4B | $8.8B | ||
| Q3 24 | $8.5B | $8.5B | ||
| Q2 24 | $8.0B | $8.3B |
总资产ABNBECL
| Q2 26 | — | $25.0M | ||
| Q4 25 | $22.2B | $24.7B | ||
| Q3 25 | $23.1B | $23.9B | ||
| Q2 25 | $27.0B | $23.7B | ||
| Q1 25 | $25.1B | $22.4B | ||
| Q4 24 | $21.0B | $22.4B | ||
| Q3 24 | $22.2B | $22.1B | ||
| Q2 24 | $26.3B | $21.5B |
负债/权益比ABNBECL
| Q2 26 | — | 0.85× | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | — | 0.79× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 0.91× |
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 | — | — |
8季度趋势，按日历期对齐
经营现金流ABNBECL
| Q2 26 | — | — | ||
| Q4 25 | $526.0M | $1.1B | ||
| Q3 25 | $1.4B | $791.3M | ||
| Q2 25 | $975.0M | $701.8M | ||
| Q1 25 | $1.8B | $369.4M | ||
| Q4 24 | $466.0M | $766.7M | ||
| Q3 24 | $1.1B | $786.7M | ||
| Q2 24 | $1.1B | $611.1M |
自由现金流ABNBECL
| Q2 26 | — | — | ||
| Q4 25 | — | $758.0M | ||
| Q3 25 | — | $529.7M | ||
| Q2 25 | — | $485.1M | ||
| Q1 25 | — | $131.5M | ||
| Q4 24 | — | $407.0M | ||
| Q3 24 | — | $550.3M | ||
| Q2 24 | — | $414.2M |
自由现金流率ABNBECL
| Q2 26 | — | — | ||
| Q4 25 | — | 18.1% | ||
| Q3 25 | — | 12.7% | ||
| Q2 25 | — | 12.1% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | 10.2% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 10.4% |
资本支出强度ABNBECL
| Q2 26 | — | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 6.3% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | — | 4.9% |
现金转化率ABNBECL
| Q2 26 | — | — | ||
| Q4 25 | 1.54× | 1.93× | ||
| Q3 25 | 0.99× | 1.35× | ||
| Q2 25 | 1.52× | 1.34× | ||
| Q1 25 | 11.62× | 0.92× | ||
| Q4 24 | 1.01× | 1.62× | ||
| Q3 24 | 0.79× | 1.07× | ||
| Q2 24 | 1.89× | 1.24× |
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% |
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
