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爱彼迎（ABNB）与LANDS' END, INC.（LE）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LANDS' END, INC.的8.7倍（$2.8B vs $317.5M）。爱彼迎净利率更高（12.3% vs 1.6%，领先10.6%）。爱彼迎同比增速更快（12.0% vs 0.1%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -1.1%）
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。
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
ABNB vs LE — 直观对比
营收规模更大
ABNB
是对方的8.7倍
$317.5M
营收增速更快
ABNB
高出11.9%
0.1%
净利率更高
ABNB
高出10.6%
1.6%
两年增速更快
ABNB
近两年复合增速
-1.1%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $317.5M |
| 净利润 | $341.0M | $5.2M |
| 毛利率 | 82.5% | 51.8% |
| 营业利润率 | 9.7% | 5.3% |
| 净利率 | 12.3% | 1.6% |
| 营收同比 | 12.0% | 0.1% |
| 净利润同比 | -26.0% | 198.3% |
| 每股收益（稀释后） | — | $0.17 |
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ABNBLE
| Q4 25 | $2.8B | $317.5M | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $3.1B | $261.2M | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.5B | $318.6M | ||
| Q3 24 | $3.7B | $317.2M | ||
| Q2 24 | $2.7B | $285.5M | ||
| Q1 24 | $2.1B | $514.9M |
净利润ABNBLE
| Q4 25 | $341.0M | $5.2M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $642.0M | $-8.3M | ||
| Q1 25 | $154.0M | — | ||
| Q4 24 | $461.0M | $-593.0K | ||
| Q3 24 | $1.4B | $-5.3M | ||
| Q2 24 | $555.0M | $-6.4M | ||
| Q1 24 | $264.0M | $-8.6M |
毛利率ABNBLE
| Q4 25 | 82.5% | 51.8% | ||
| Q3 25 | 86.6% | — | ||
| Q2 25 | 82.4% | 50.8% | ||
| Q1 25 | 77.7% | — | ||
| Q4 24 | 82.8% | 50.6% | ||
| Q3 24 | 87.5% | 47.9% | ||
| Q2 24 | 81.6% | 48.7% | ||
| Q1 24 | 77.6% | 38.0% |
营业利润率ABNBLE
| Q4 25 | 9.7% | 5.3% | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 19.8% | -0.9% | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 17.3% | 2.9% | ||
| Q3 24 | 40.9% | 0.8% | ||
| Q2 24 | 18.1% | 0.8% | ||
| Q1 24 | 4.7% | 1.6% |
净利率ABNBLE
| Q4 25 | 12.3% | 1.6% | ||
| Q3 25 | 33.6% | — | ||
| Q2 25 | 20.7% | -3.2% | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 18.6% | -0.2% | ||
| Q3 24 | 36.7% | -1.7% | ||
| Q2 24 | 20.2% | -2.3% | ||
| Q1 24 | 12.3% | -1.7% |
每股收益（稀释后）ABNBLE
| Q4 25 | — | $0.17 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-0.27 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | — | $-0.17 | ||
| Q2 24 | — | $-0.20 | ||
| Q1 24 | — | $-0.27 |
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 | $36.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $231.0M |
| 总资产 | $22.2B | $852.7M |
| 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ABNBLE
| Q4 25 | $11.0B | $36.3M | ||
| Q3 25 | $11.7B | — | ||
| Q2 25 | $11.4B | $18.1M | ||
| Q1 25 | $11.5B | — | ||
| Q4 24 | $10.6B | $30.4M | ||
| Q3 24 | $11.3B | $25.6M | ||
| Q2 24 | $11.3B | $27.4M | ||
| Q1 24 | $11.1B | $25.3M |
股东权益ABNBLE
| Q4 25 | $8.2B | $231.0M | ||
| Q3 25 | $8.6B | — | ||
| Q2 25 | $7.8B | $230.1M | ||
| Q1 25 | $7.9B | — | ||
| Q4 24 | $8.4B | $223.6M | ||
| Q3 24 | $8.5B | $226.5M | ||
| Q2 24 | $8.0B | $234.6M | ||
| Q1 24 | $7.9B | $241.6M |
总资产ABNBLE
| Q4 25 | $22.2B | $852.7M | ||
| Q3 25 | $23.1B | — | ||
| Q2 25 | $27.0B | $760.5M | ||
| Q1 25 | $25.1B | — | ||
| Q4 24 | $21.0B | $843.6M | ||
| Q3 24 | $22.2B | $802.5M | ||
| Q2 24 | $26.3B | $800.1M | ||
| Q1 24 | $24.5B | $811.5M |
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 | $-15.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-22.4M |
| 自由现金流率自由现金流/营收 | — | -7.1% |
| 资本支出强度资本支出/营收 | — | 2.1% |
| 现金转化率经营现金流/净利润 | 1.54× | -3.03× |
| 过去12个月自由现金流最近4个季度 | — | $-55.0M |
8季度趋势，按日历期对齐
经营现金流ABNBLE
| Q4 25 | $526.0M | $-15.7M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $975.0M | $-22.5M | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $466.0M | — | ||
| Q3 24 | $1.1B | $30.7M | ||
| Q2 24 | $1.1B | $-25.8M | ||
| Q1 24 | $1.9B | $93.9M |
自由现金流ABNBLE
| Q4 25 | — | $-22.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-30.7M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $26.0M | ||
| Q2 24 | — | $-32.6M | ||
| Q1 24 | — | $87.5M |
自由现金流率ABNBLE
| Q4 25 | — | -7.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -11.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 8.2% | ||
| Q2 24 | — | -11.4% | ||
| Q1 24 | — | 17.0% |
资本支出强度ABNBLE
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 1.2% |
现金转化率ABNBLE
| Q4 25 | 1.54× | -3.03× | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | — | ||
| Q3 24 | 0.79× | — | ||
| Q2 24 | 1.89× | — | ||
| Q1 24 | 7.28× | — |
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% |
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
