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爱彼迎（ABNB）与HNI CORP（HNI）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HNI CORP的4.1倍（$2.8B vs $683.8M），爱彼迎净利率更高（12.3% vs 6.0%，领先6.2%），爱彼迎同比增速更快（12.0% vs 1.7%），过去两年爱彼迎的营收复合增速更高（13.9% vs 0.3%）
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。
HNI公司是全球营收规模领先的办公家具制造商之一，同时也是全球壁炉产品行业的头部企业，生产销售燃气、电、燃木及生物质燃料壁炉、嵌入式炉具、取暖炉、饰面及相关配件。公司1944年由工程师C.麦克斯韦·斯坦利等三人联合创立，总部位于美国爱荷华州马斯卡廷。
ABNB vs HNI — 直观对比
营收规模更大
ABNB
是对方的4.1倍
$683.8M
营收增速更快
ABNB
高出10.3%
1.7%
净利率更高
ABNB
高出6.2%
6.0%
两年增速更快
ABNB
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $683.8M |
| 净利润 | $341.0M | $41.2M |
| 毛利率 | 82.5% | 42.1% |
| 营业利润率 | 9.7% | 9.4% |
| 净利率 | 12.3% | 6.0% |
| 营收同比 | 12.0% | 1.7% |
| 净利润同比 | -26.0% | -13.3% |
| 每股收益（稀释后） | — | $0.88 |
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ABNBHNI
| Q4 25 | $2.8B | — | ||
| Q3 25 | $4.1B | $683.8M | ||
| Q2 25 | $3.1B | $667.1M | ||
| Q1 25 | $2.3B | $599.8M | ||
| Q4 24 | $2.5B | $642.5M | ||
| Q3 24 | $3.7B | $672.2M | ||
| Q2 24 | $2.7B | $623.7M | ||
| Q1 24 | $2.1B | $588.0M |
净利润ABNBHNI
| Q4 25 | $341.0M | — | ||
| Q3 25 | $1.4B | $41.2M | ||
| Q2 25 | $642.0M | $48.2M | ||
| Q1 25 | $154.0M | $13.9M | ||
| Q4 24 | $461.0M | $38.3M | ||
| Q3 24 | $1.4B | $47.5M | ||
| Q2 24 | $555.0M | $36.0M | ||
| Q1 24 | $264.0M | $17.7M |
毛利率ABNBHNI
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | 42.1% | ||
| Q2 25 | 82.4% | 42.9% | ||
| Q1 25 | 77.7% | 39.7% | ||
| Q4 24 | 82.8% | 40.5% | ||
| Q3 24 | 87.5% | 41.5% | ||
| Q2 24 | 81.6% | 41.9% | ||
| Q1 24 | 77.6% | 39.6% |
营业利润率ABNBHNI
| Q4 25 | 9.7% | — | ||
| Q3 25 | 39.7% | 9.4% | ||
| Q2 25 | 19.8% | 10.2% | ||
| Q1 25 | 1.7% | 4.1% | ||
| Q4 24 | 17.3% | 8.5% | ||
| Q3 24 | 40.9% | 10.2% | ||
| Q2 24 | 18.1% | 8.6% | ||
| Q1 24 | 4.7% | 5.1% |
净利率ABNBHNI
| Q4 25 | 12.3% | — | ||
| Q3 25 | 33.6% | 6.0% | ||
| Q2 25 | 20.7% | 7.2% | ||
| Q1 25 | 6.8% | 2.3% | ||
| Q4 24 | 18.6% | 6.0% | ||
| Q3 24 | 36.7% | 7.1% | ||
| Q2 24 | 20.2% | 5.8% | ||
| Q1 24 | 12.3% | 3.0% |
每股收益（稀释后）ABNBHNI
| Q4 25 | — | — | ||
| Q3 25 | — | $0.88 | ||
| Q2 25 | — | $1.02 | ||
| Q1 25 | — | $0.29 | ||
| Q4 24 | — | $0.78 | ||
| Q3 24 | — | $0.98 | ||
| Q2 24 | — | $0.75 | ||
| Q1 24 | — | $0.37 |
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 | $28.1M |
| 总债务越低越好 | — | $324.2M |
| 股东权益账面价值 | $8.2B | $835.9M |
| 总资产 | $22.2B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资ABNBHNI
| Q4 25 | $11.0B | — | ||
| Q3 25 | $11.7B | $28.1M | ||
| Q2 25 | $11.4B | $38.2M | ||
| Q1 25 | $11.5B | $27.5M | ||
| Q4 24 | $10.6B | $28.9M | ||
| Q3 24 | $11.3B | $40.2M | ||
| Q2 24 | $11.3B | $33.5M | ||
| Q1 24 | $11.1B | $32.5M |
总债务ABNBHNI
| Q4 25 | — | — | ||
| Q3 25 | — | $324.2M | ||
| Q2 25 | — | $444.4M | ||
| Q1 25 | — | $404.7M | ||
| Q4 24 | — | $344.6M | ||
| Q3 24 | — | $345.4M | ||
| Q2 24 | — | $462.3M | ||
| Q1 24 | — | $473.0M |
股东权益ABNBHNI
| Q4 25 | $8.2B | — | ||
| Q3 25 | $8.6B | $835.9M | ||
| Q2 25 | $7.8B | $811.0M | ||
| Q1 25 | $7.9B | $803.6M | ||
| Q4 24 | $8.4B | $840.1M | ||
| Q3 24 | $8.5B | $846.6M | ||
| Q2 24 | $8.0B | $787.8M | ||
| Q1 24 | $7.9B | $771.5M |
总资产ABNBHNI
| Q4 25 | $22.2B | — | ||
| Q3 25 | $23.1B | $1.8B | ||
| Q2 25 | $27.0B | $1.9B | ||
| Q1 25 | $25.1B | $1.9B | ||
| Q4 24 | $21.0B | $1.9B | ||
| Q3 24 | $22.2B | $1.9B | ||
| Q2 24 | $26.3B | $1.9B | ||
| Q1 24 | $24.5B | $1.9B |
负债/权益比ABNBHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.61× |
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 | $155.2M |
| 自由现金流经营现金流 - 资本支出 | — | $135.6M |
| 自由现金流率自由现金流/营收 | — | 19.8% |
| 资本支出强度资本支出/营收 | — | 2.9% |
| 现金转化率经营现金流/净利润 | 1.54× | 3.77× |
| 过去12个月自由现金流最近4个季度 | — | $189.5M |
8季度趋势，按日历期对齐
经营现金流ABNBHNI
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | $155.2M | ||
| Q2 25 | $975.0M | $31.1M | ||
| Q1 25 | $1.8B | $12.6M | ||
| Q4 24 | $466.0M | $51.2M | ||
| Q3 24 | $1.1B | $128.5M | ||
| Q2 24 | $1.1B | $51.3M | ||
| Q1 24 | $1.9B | $-4.3M |
自由现金流ABNBHNI
| Q4 25 | — | — | ||
| Q3 25 | — | $135.6M | ||
| Q2 25 | — | $16.1M | ||
| Q1 25 | — | $-3.7M | ||
| Q4 24 | — | $41.5M | ||
| Q3 24 | — | $114.0M | ||
| Q2 24 | — | $33.8M | ||
| Q1 24 | — | $-15.5M |
自由现金流率ABNBHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 19.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | -0.6% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 17.0% | ||
| Q2 24 | — | 5.4% | ||
| Q1 24 | — | -2.6% |
资本支出强度ABNBHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 1.9% |
现金转化率ABNBHNI
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 3.77× | ||
| Q2 25 | 1.52× | 0.65× | ||
| Q1 25 | 11.62× | 0.91× | ||
| Q4 24 | 1.01× | 1.34× | ||
| Q3 24 | 0.79× | 2.71× | ||
| Q2 24 | 1.89× | 1.43× | ||
| Q1 24 | 7.28× | -0.24× |
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% |
HNI
| Systems Storage And Table | $309.9M | 45% |
| Residential Building Products | $166.9M | 24% |
| Seating Products | $161.1M | 24% |
| Other Products | $45.9M | 7% |
