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爱彼迎（ABNB）与Expeditors International（EXPD）财务数据对比。点击上方公司名可切换其他公司
Expeditors International的季度营收约是爱彼迎的1.0倍（$2.9B vs $2.8B），爱彼迎净利率更高（12.3% vs 7.0%，领先5.2%），爱彼迎同比增速更快（12.0% vs -3.3%），过去两年爱彼迎的营收复合增速更高（13.9% vs 13.8%）
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。
美国财富500强物流服务企业，总部位于华盛顿州贝尔维尤，依托覆盖六大洲100余个国家超340个网点的全球网络及统一集成的技术系统，为客户提供高度优化的定制化供应链解决方案。
ABNB vs EXPD — 直观对比
营收规模更大
EXPD
是对方的1.0倍
$2.8B
营收增速更快
ABNB
高出15.4%
-3.3%
净利率更高
ABNB
高出5.2%
7.0%
两年增速更快
ABNB
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.9B |
| 净利润 | $341.0M | $200.7M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 8.8% |
| 净利率 | 12.3% | 7.0% |
| 营收同比 | 12.0% | -3.3% |
| 净利润同比 | -26.0% | -14.9% |
| 每股收益（稀释后） | — | $1.50 |
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ABNBEXPD
| Q4 25 | $2.8B | $2.9B | ||
| Q3 25 | $4.1B | $2.9B | ||
| Q2 25 | $3.1B | $2.7B | ||
| Q1 25 | $2.3B | $2.7B | ||
| Q4 24 | $2.5B | $3.0B | ||
| Q3 24 | $3.7B | $3.0B | ||
| Q2 24 | $2.7B | $2.4B | ||
| Q1 24 | $2.1B | $2.2B |
净利润ABNBEXPD
| Q4 25 | $341.0M | $200.7M | ||
| Q3 25 | $1.4B | $222.3M | ||
| Q2 25 | $642.0M | $183.6M | ||
| Q1 25 | $154.0M | $203.8M | ||
| Q4 24 | $461.0M | $235.9M | ||
| Q3 24 | $1.4B | $229.6M | ||
| Q2 24 | $555.0M | $175.5M | ||
| Q1 24 | $264.0M | $169.2M |
毛利率ABNBEXPD
| 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ABNBEXPD
| Q4 25 | 9.7% | 8.8% | ||
| Q3 25 | 39.7% | 10.0% | ||
| Q2 25 | 19.8% | 9.3% | ||
| Q1 25 | 1.7% | 10.0% | ||
| Q4 24 | 17.3% | 10.2% | ||
| Q3 24 | 40.9% | 10.1% | ||
| Q2 24 | 18.1% | 9.2% | ||
| Q1 24 | 4.7% | 9.7% |
净利率ABNBEXPD
| Q4 25 | 12.3% | 7.0% | ||
| Q3 25 | 33.6% | 7.7% | ||
| Q2 25 | 20.7% | 6.9% | ||
| Q1 25 | 6.8% | 7.6% | ||
| Q4 24 | 18.6% | 8.0% | ||
| Q3 24 | 36.7% | 7.7% | ||
| Q2 24 | 20.2% | 7.2% | ||
| Q1 24 | 12.3% | 7.7% |
每股收益（稀释后）ABNBEXPD
| Q4 25 | — | $1.50 | ||
| Q3 25 | — | $1.64 | ||
| Q2 25 | — | $1.34 | ||
| Q1 25 | — | $1.47 | ||
| Q4 24 | — | $1.68 | ||
| Q3 24 | — | $1.63 | ||
| Q2 24 | — | $1.24 | ||
| Q1 24 | — | $1.17 |
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 | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $2.4B |
| 总资产 | $22.2B | $4.9B |
| 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ABNBEXPD
| Q4 25 | $11.0B | $1.3B | ||
| Q3 25 | $11.7B | $1.2B | ||
| Q2 25 | $11.4B | $1.2B | ||
| Q1 25 | $11.5B | $1.3B | ||
| Q4 24 | $10.6B | $1.1B | ||
| Q3 24 | $11.3B | $1.3B | ||
| Q2 24 | $11.3B | $1.3B | ||
| Q1 24 | $11.1B | $1.4B |
股东权益ABNBEXPD
| Q4 25 | $8.2B | $2.4B | ||
| Q3 25 | $8.6B | $2.3B | ||
| Q2 25 | $7.8B | $2.2B | ||
| Q1 25 | $7.9B | $2.3B | ||
| Q4 24 | $8.4B | $2.2B | ||
| Q3 24 | $8.5B | $2.4B | ||
| Q2 24 | $8.0B | $2.2B | ||
| Q1 24 | $7.9B | $2.2B |
总资产ABNBEXPD
| Q4 25 | $22.2B | $4.9B | ||
| Q3 25 | $23.1B | $4.8B | ||
| Q2 25 | $27.0B | $4.8B | ||
| Q1 25 | $25.1B | $4.8B | ||
| Q4 24 | $21.0B | $4.8B | ||
| Q3 24 | $22.2B | $5.2B | ||
| Q2 24 | $26.3B | $4.8B | ||
| Q1 24 | $24.5B | $4.5B |
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 | $283.3M |
| 自由现金流经营现金流 - 资本支出 | — | $270.3M |
| 自由现金流率自由现金流/营收 | — | 9.5% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.41× |
| 过去12个月自由现金流最近4个季度 | — | $953.4M |
8季度趋势，按日历期对齐
经营现金流ABNBEXPD
| Q4 25 | $526.0M | $283.3M | ||
| Q3 25 | $1.4B | $201.4M | ||
| Q2 25 | $975.0M | $179.2M | ||
| Q1 25 | $1.8B | $342.6M | ||
| Q4 24 | $466.0M | $249.7M | ||
| Q3 24 | $1.1B | $90.0M | ||
| Q2 24 | $1.1B | $126.8M | ||
| Q1 24 | $1.9B | $256.9M |
自由现金流ABNBEXPD
| Q4 25 | — | $270.3M | ||
| Q3 25 | — | $190.3M | ||
| Q2 25 | — | $163.3M | ||
| Q1 25 | — | $329.5M | ||
| Q4 24 | — | $239.7M | ||
| Q3 24 | — | $77.7M | ||
| Q2 24 | — | $118.8M | ||
| Q1 24 | — | $246.7M |
自由现金流率ABNBEXPD
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 8.1% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 4.9% | ||
| Q1 24 | — | 11.2% |
资本支出强度ABNBEXPD
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.5% |
现金转化率ABNBEXPD
| Q4 25 | 1.54× | 1.41× | ||
| Q3 25 | 0.99× | 0.91× | ||
| Q2 25 | 1.52× | 0.98× | ||
| Q1 25 | 11.62× | 1.68× | ||
| Q4 24 | 1.01× | 1.06× | ||
| Q3 24 | 0.79× | 0.39× | ||
| Q2 24 | 1.89× | 0.72× | ||
| Q1 24 | 7.28× | 1.52× |
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% |
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
