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爱彼迎（ABNB）与通用磨坊（GIS）财务数据对比。点击上方公司名可切换其他公司
通用磨坊的季度营收约是爱彼迎的1.7倍（$4.9B vs $2.8B），爱彼迎净利率更高（12.3% vs 8.5%，领先3.8%），爱彼迎同比增速更快（12.0% vs -7.2%），过去两年爱彼迎的营收复合增速更高（13.9% vs -2.4%）
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。
通用磨坊是美国知名跨国消费食品企业，主营品牌包装食品的生产与营销，产品通过零售渠道面向大众发售。公司发源于明尼阿波利斯市密西西比河畔的圣安东尼瀑布区域，最初以大型面粉加工业务闻名，现总部位于明尼阿波利斯市郊的明尼苏达州金谷市。
ABNB vs GIS — 直观对比
营收规模更大
GIS
是对方的1.7倍
$2.8B
营收增速更快
ABNB
高出19.3%
-7.2%
净利率更高
ABNB
高出3.8%
8.5%
两年增速更快
ABNB
近两年复合增速
-2.4%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $4.9B |
| 净利润 | $341.0M | $413.0M |
| 毛利率 | 82.5% | 34.8% |
| 营业利润率 | 9.7% | 15.0% |
| 净利率 | 12.3% | 8.5% |
| 营收同比 | 12.0% | -7.2% |
| 净利润同比 | -26.0% | -48.1% |
| 每股收益（稀释后） | — | $0.78 |
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ABNBGIS
| Q4 25 | $2.8B | $4.9B | ||
| Q3 25 | $4.1B | $4.5B | ||
| Q2 25 | $3.1B | $4.6B | ||
| Q1 25 | $2.3B | $4.8B | ||
| Q4 24 | $2.5B | $5.2B | ||
| Q3 24 | $3.7B | $4.8B | ||
| Q2 24 | $2.7B | $4.7B | ||
| Q1 24 | $2.1B | $5.1B |
净利润ABNBGIS
| Q4 25 | $341.0M | $413.0M | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $642.0M | $294.0M | ||
| Q1 25 | $154.0M | $625.6M | ||
| Q4 24 | $461.0M | $795.7M | ||
| Q3 24 | $1.4B | $579.9M | ||
| Q2 24 | $555.0M | $557.5M | ||
| Q1 24 | $264.0M | $670.1M |
毛利率ABNBGIS
| Q4 25 | 82.5% | 34.8% | ||
| Q3 25 | 86.6% | 33.9% | ||
| Q2 25 | 82.4% | 32.4% | ||
| Q1 25 | 77.7% | 33.9% | ||
| Q4 24 | 82.8% | 36.9% | ||
| Q3 24 | 87.5% | 34.8% | ||
| Q2 24 | 81.6% | 35.8% | ||
| Q1 24 | 77.6% | 33.5% |
营业利润率ABNBGIS
| Q4 25 | 9.7% | 15.0% | ||
| Q3 25 | 39.7% | 38.2% | ||
| Q2 25 | 19.8% | 11.1% | ||
| Q1 25 | 1.7% | 18.4% | ||
| Q4 24 | 17.3% | 20.6% | ||
| Q3 24 | 40.9% | 17.2% | ||
| Q2 24 | 18.1% | 16.5% | ||
| Q1 24 | 4.7% | 17.9% |
净利率ABNBGIS
| Q4 25 | 12.3% | 8.5% | ||
| Q3 25 | 33.6% | 26.7% | ||
| Q2 25 | 20.7% | 6.5% | ||
| Q1 25 | 6.8% | 12.9% | ||
| Q4 24 | 18.6% | 15.2% | ||
| Q3 24 | 36.7% | 12.0% | ||
| Q2 24 | 20.2% | 11.8% | ||
| Q1 24 | 12.3% | 13.1% |
每股收益（稀释后）ABNBGIS
| Q4 25 | — | $0.78 | ||
| Q3 25 | — | $2.22 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $1.12 | ||
| Q4 24 | — | $1.42 | ||
| Q3 24 | — | $1.03 | ||
| Q2 24 | — | $0.98 | ||
| 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 | $683.4M |
| 总债务越低越好 | — | $12.2B |
| 股东权益账面价值 | $8.2B | $9.3B |
| 总资产 | $22.2B | $32.5B |
| 负债/权益比越低杠杆越低 | — | 1.31× |
8季度趋势，按日历期对齐
现金及短期投资ABNBGIS
| Q4 25 | $11.0B | $683.4M | ||
| Q3 25 | $11.7B | $952.9M | ||
| Q2 25 | $11.4B | $363.9M | ||
| Q1 25 | $11.5B | $521.3M | ||
| Q4 24 | $10.6B | $2.3B | ||
| Q3 24 | $11.3B | $468.1M | ||
| Q2 24 | $11.3B | $418.0M | ||
| Q1 24 | $11.1B | $588.6M |
总债务ABNBGIS
| Q4 25 | — | $12.2B | ||
| Q3 25 | — | $12.2B | ||
| Q2 25 | — | $12.7B | ||
| Q1 25 | — | $11.8B | ||
| Q4 24 | — | $12.4B | ||
| Q3 24 | — | $11.4B | ||
| Q2 24 | — | $11.3B | ||
| Q1 24 | — | $11.0B |
股东权益ABNBGIS
| Q4 25 | $8.2B | $9.3B | ||
| Q3 25 | $8.6B | $9.5B | ||
| Q2 25 | $7.8B | $9.2B | ||
| Q1 25 | $7.9B | $9.3B | ||
| Q4 24 | $8.4B | $9.2B | ||
| Q3 24 | $8.5B | $9.3B | ||
| Q2 24 | $8.0B | $9.4B | ||
| Q1 24 | $7.9B | $9.4B |
总资产ABNBGIS
| Q4 25 | $22.2B | $32.5B | ||
| Q3 25 | $23.1B | $33.0B | ||
| Q2 25 | $27.0B | $33.1B | ||
| Q1 25 | $25.1B | $32.7B | ||
| Q4 24 | $21.0B | $33.4B | ||
| Q3 24 | $22.2B | $31.8B | ||
| Q2 24 | $26.3B | $31.5B | ||
| Q1 24 | $24.5B | $30.9B |
负债/权益比ABNBGIS
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | 1.29× | ||
| Q2 25 | — | 1.38× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 1.35× | ||
| Q3 24 | — | 1.23× | ||
| Q2 24 | — | 1.20× | ||
| 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 | $819.3M |
| 自由现金流经营现金流 - 资本支出 | — | $675.7M |
| 自由现金流率自由现金流/营收 | — | 13.9% |
| 资本支出强度资本支出/营收 | — | 3.0% |
| 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 | — | $1.8B |
8季度趋势，按日历期对齐
经营现金流ABNBGIS
| Q4 25 | $526.0M | $819.3M | ||
| Q3 25 | $1.4B | $397.0M | ||
| Q2 25 | $975.0M | $611.6M | ||
| Q1 25 | $1.8B | $531.9M | ||
| Q4 24 | $466.0M | $1.2B | ||
| Q3 24 | $1.1B | $624.2M | ||
| Q2 24 | $1.1B | $863.7M | ||
| Q1 24 | $1.9B | $943.1M |
自由现金流ABNBGIS
| Q4 25 | — | $675.7M | ||
| Q3 25 | — | $287.5M | ||
| Q2 25 | — | $391.4M | ||
| Q1 25 | — | $428.0M | ||
| Q4 24 | — | $989.6M | ||
| Q3 24 | — | $483.9M | ||
| Q2 24 | — | $575.2M | ||
| Q1 24 | — | $751.4M |
自由现金流率ABNBGIS
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 8.8% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | — | 12.2% | ||
| Q1 24 | — | 14.7% |
资本支出强度ABNBGIS
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 6.1% | ||
| Q1 24 | — | 3.8% |
现金转化率ABNBGIS
| Q4 25 | 1.54× | 1.98× | ||
| Q3 25 | 0.99× | 0.33× | ||
| Q2 25 | 1.52× | 2.08× | ||
| Q1 25 | 11.62× | 0.85× | ||
| Q4 24 | 1.01× | 1.45× | ||
| Q3 24 | 0.79× | 1.08× | ||
| Q2 24 | 1.89× | 1.55× | ||
| Q1 24 | 7.28× | 1.41× |
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% |
GIS
| Snacks | $1.0B | 21% |
| Convenient Meals | $827.0M | 17% |
| Cereal | $791.2M | 16% |
| Dough | $720.9M | 15% |
| Pet | $698.7M | 14% |
| Baking Mixes And Ingredients | $556.0M | 11% |
| Super Premium Ice Cream | $175.8M | 4% |
| Other Product | $73.3M | 2% |
