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爱彼迎（ABNB）与KOHLS Corp（KSS）财务数据对比。点击上方公司名可切换其他公司
KOHLS Corp的季度营收约是爱彼迎的1.3倍（$3.6B vs $2.8B）。爱彼迎净利率更高（12.3% vs 0.2%，领先12.1%）。爱彼迎同比增速更快（12.0% vs -3.6%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -22.5%）
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。
科尔士（Kohl's）是美国知名连锁百货零售商，目前在全美除夏威夷外的各州共开设1174家门店。品牌由波兰移民麦克斯韦·科尔创立，1927年他在威斯康星州密尔沃基开设了一家街角杂货店，在当地发展为成功的连锁品牌后，1962年公司开设首家百货门店，正式进军百货零售领域。
ABNB vs KSS — 直观对比
营收规模更大
KSS
是对方的1.3倍
$2.8B
营收增速更快
ABNB
高出15.7%
-3.6%
净利率更高
ABNB
高出12.1%
0.2%
两年增速更快
ABNB
近两年复合增速
-22.5%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $3.6B |
| 净利润 | $341.0M | $8.0M |
| 毛利率 | 82.5% | 42.4% |
| 营业利润率 | 9.7% | 2.0% |
| 净利率 | 12.3% | 0.2% |
| 营收同比 | 12.0% | -3.6% |
| 净利润同比 | -26.0% | -63.6% |
| 每股收益（稀释后） | — | $0.07 |
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ABNBKSS
| Q4 25 | $2.8B | $3.6B | ||
| Q3 25 | $4.1B | $3.5B | ||
| Q2 25 | $3.1B | $3.2B | ||
| Q1 25 | $2.3B | $5.4B | ||
| Q4 24 | $2.5B | $3.7B | ||
| Q3 24 | $3.7B | $3.7B | ||
| Q2 24 | $2.7B | $3.4B | ||
| Q1 24 | $2.1B | $6.0B |
净利润ABNBKSS
| Q4 25 | $341.0M | $8.0M | ||
| Q3 25 | $1.4B | $153.0M | ||
| Q2 25 | $642.0M | $-15.0M | ||
| Q1 25 | $154.0M | $48.0M | ||
| Q4 24 | $461.0M | $22.0M | ||
| Q3 24 | $1.4B | $66.0M | ||
| Q2 24 | $555.0M | $-27.0M | ||
| Q1 24 | $264.0M | $186.0M |
毛利率ABNBKSS
| Q4 25 | 82.5% | 42.4% | ||
| Q3 25 | 86.6% | 43.3% | ||
| Q2 25 | 82.4% | 43.3% | ||
| Q1 25 | 77.7% | 35.6% | ||
| Q4 24 | 82.8% | 42.4% | ||
| Q3 24 | 87.5% | 43.0% | ||
| Q2 24 | 81.6% | 43.1% | ||
| Q1 24 | 77.6% | 35.2% |
营业利润率ABNBKSS
| Q4 25 | 9.7% | 2.0% | ||
| Q3 25 | 39.7% | 7.9% | ||
| Q2 25 | 19.8% | 1.9% | ||
| Q1 25 | 1.7% | 2.3% | ||
| Q4 24 | 17.3% | 2.6% | ||
| Q3 24 | 40.9% | 4.4% | ||
| Q2 24 | 18.1% | 1.3% | ||
| Q1 24 | 4.7% | 5.0% |
净利率ABNBKSS
| Q4 25 | 12.3% | 0.2% | ||
| Q3 25 | 33.6% | 4.3% | ||
| Q2 25 | 20.7% | -0.5% | ||
| Q1 25 | 6.8% | 0.9% | ||
| Q4 24 | 18.6% | 0.6% | ||
| Q3 24 | 36.7% | 1.8% | ||
| Q2 24 | 20.2% | -0.8% | ||
| Q1 24 | 12.3% | 3.1% |
每股收益（稀释后）ABNBKSS
| Q4 25 | — | $0.07 | ||
| Q3 25 | — | $1.35 | ||
| Q2 25 | — | $-0.13 | ||
| Q1 25 | — | $0.43 | ||
| Q4 24 | — | $0.20 | ||
| Q3 24 | — | $0.59 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $1.67 |
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 | $144.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $3.9B |
| 总资产 | $22.2B | $14.1B |
| 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ABNBKSS
| Q4 25 | $11.0B | $144.0M | ||
| Q3 25 | $11.7B | $174.0M | ||
| Q2 25 | $11.4B | $153.0M | ||
| Q1 25 | $11.5B | $134.0M | ||
| Q4 24 | $10.6B | $174.0M | ||
| Q3 24 | $11.3B | $231.0M | ||
| Q2 24 | $11.3B | $228.0M | ||
| Q1 24 | $11.1B | $183.0M |
股东权益ABNBKSS
| Q4 25 | $8.2B | $3.9B | ||
| Q3 25 | $8.6B | $3.9B | ||
| Q2 25 | $7.8B | $3.8B | ||
| Q1 25 | $7.9B | $3.8B | ||
| Q4 24 | $8.4B | $3.8B | ||
| Q3 24 | $8.5B | $3.8B | ||
| Q2 24 | $8.0B | $3.8B | ||
| Q1 24 | $7.9B | $3.9B |
总资产ABNBKSS
| Q4 25 | $22.2B | $14.1B | ||
| Q3 25 | $23.1B | $13.4B | ||
| Q2 25 | $27.0B | $13.6B | ||
| Q1 25 | $25.1B | $13.6B | ||
| Q4 24 | $21.0B | $15.1B | ||
| Q3 24 | $22.2B | $14.2B | ||
| Q2 24 | $26.3B | $14.3B | ||
| Q1 24 | $24.5B | $14.0B |
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 | $124.0M |
| 自由现金流经营现金流 - 资本支出 | — | $16.0M |
| 自由现金流率自由现金流/营收 | — | 0.4% |
| 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× | 15.50× |
| 过去12个月自由现金流最近4个季度 | — | $819.0M |
8季度趋势，按日历期对齐
经营现金流ABNBKSS
| Q4 25 | $526.0M | $124.0M | ||
| Q3 25 | $1.4B | $598.0M | ||
| Q2 25 | $975.0M | $-92.0M | ||
| Q1 25 | $1.8B | $596.0M | ||
| Q4 24 | $466.0M | $-195.0M | ||
| Q3 24 | $1.1B | $254.0M | ||
| Q2 24 | $1.1B | $-7.0M | ||
| Q1 24 | $1.9B | $789.0M |
自由现金流ABNBKSS
| Q4 25 | — | $16.0M | ||
| Q3 25 | — | $508.0M | ||
| Q2 25 | — | $-202.0M | ||
| Q1 25 | — | $497.0M | ||
| Q4 24 | — | $-323.0M | ||
| Q3 24 | — | $141.0M | ||
| Q2 24 | — | $-133.0M | ||
| Q1 24 | — | $707.0M |
自由现金流率ABNBKSS
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | -6.2% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | -8.7% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | -3.9% | ||
| Q1 24 | — | 11.9% |
资本支出强度ABNBKSS
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 3.0% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | 1.4% |
现金转化率ABNBKSS
| Q4 25 | 1.54× | 15.50× | ||
| Q3 25 | 0.99× | 3.91× | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | 12.42× | ||
| Q4 24 | 1.01× | -8.86× | ||
| Q3 24 | 0.79× | 3.85× | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 7.28× | 4.24× |
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% |
KSS
| Products | $3.4B | 95% |
| Other | $168.0M | 5% |
| Gift Card | $17.0M | 0% |
