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爱彼迎（ABNB）与Life Time Group Holdings, Inc.（LTH）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Life Time Group Holdings, Inc.的3.7倍（$2.8B vs $745.1M）。Life Time Group Holdings, Inc.净利率更高（16.5% vs 12.3%，领先4.2%）。Life Time Group Holdings, Inc.同比增速更快（12.3% vs 12.0%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 11.7%）
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。
Life Time Group Holdings是美国高端健身康养服务运营商，在全美运营连锁高端运动场馆，提供健身器材使用、团体课程、私教指导、SPA护理、营养咨询、青少年运动项目及联合办公等服务，服务于追求健康生活方式的消费群体。
ABNB vs LTH — 直观对比
营收规模更大
ABNB
是对方的3.7倍
$745.1M
营收增速更快
LTH
高出0.3%
12.0%
净利率更高
LTH
高出4.2%
12.3%
两年增速更快
ABNB
近两年复合增速
11.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $745.1M |
| 净利润 | $341.0M | $123.0M |
| 毛利率 | 82.5% | 49.1% |
| 营业利润率 | 9.7% | 17.4% |
| 净利率 | 12.3% | 16.5% |
| 营收同比 | 12.0% | 12.3% |
| 净利润同比 | -26.0% | 231.0% |
| 每股收益（稀释后） | — | $0.55 |
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ABNBLTH
| Q4 25 | $2.8B | $745.1M | ||
| Q3 25 | $4.1B | $782.6M | ||
| Q2 25 | $3.1B | $761.5M | ||
| Q1 25 | $2.3B | $706.0M | ||
| Q4 24 | $2.5B | $663.3M | ||
| Q3 24 | $3.7B | $693.2M | ||
| Q2 24 | $2.7B | $667.8M | ||
| Q1 24 | $2.1B | $596.7M |
净利润ABNBLTH
| Q4 25 | $341.0M | $123.0M | ||
| Q3 25 | $1.4B | $102.4M | ||
| Q2 25 | $642.0M | $72.1M | ||
| Q1 25 | $154.0M | $76.1M | ||
| Q4 24 | $461.0M | $37.2M | ||
| Q3 24 | $1.4B | $41.4M | ||
| Q2 24 | $555.0M | $52.8M | ||
| Q1 24 | $264.0M | $24.9M |
毛利率ABNBLTH
| Q4 25 | 82.5% | 49.1% | ||
| Q3 25 | 86.6% | 47.1% | ||
| Q2 25 | 82.4% | 47.0% | ||
| Q1 25 | 77.7% | 47.5% | ||
| Q4 24 | 82.8% | 48.2% | ||
| Q3 24 | 87.5% | 46.5% | ||
| Q2 24 | 81.6% | 46.8% | ||
| Q1 24 | 77.6% | 46.1% |
营业利润率ABNBLTH
| Q4 25 | 9.7% | 17.4% | ||
| Q3 25 | 39.7% | 17.3% | ||
| Q2 25 | 19.8% | 14.2% | ||
| Q1 25 | 1.7% | 15.2% | ||
| Q4 24 | 17.3% | 13.1% | ||
| Q3 24 | 40.9% | 13.5% | ||
| Q2 24 | 18.1% | 15.7% | ||
| Q1 24 | 4.7% | 12.1% |
净利率ABNBLTH
| Q4 25 | 12.3% | 16.5% | ||
| Q3 25 | 33.6% | 13.1% | ||
| Q2 25 | 20.7% | 9.5% | ||
| Q1 25 | 6.8% | 10.8% | ||
| Q4 24 | 18.6% | 5.6% | ||
| Q3 24 | 36.7% | 6.0% | ||
| Q2 24 | 20.2% | 7.9% | ||
| Q1 24 | 12.3% | 4.2% |
每股收益（稀释后）ABNBLTH
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.45 | ||
| Q2 25 | — | $0.32 | ||
| Q1 25 | — | $0.34 | ||
| Q4 24 | — | $0.17 | ||
| Q3 24 | — | $0.19 | ||
| Q2 24 | — | $0.26 | ||
| Q1 24 | — | $0.12 |
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 | $204.8M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $8.2B | $3.1B |
| 总资产 | $22.2B | $8.0B |
| 负债/权益比越低杠杆越低 | — | 0.48× |
8季度趋势，按日历期对齐
现金及短期投资ABNBLTH
| Q4 25 | $11.0B | $204.8M | ||
| Q3 25 | $11.7B | $218.9M | ||
| Q2 25 | $11.4B | $175.5M | ||
| Q1 25 | $11.5B | $59.0M | ||
| Q4 24 | $10.6B | $10.9M | ||
| Q3 24 | $11.3B | $120.9M | ||
| Q2 24 | $11.3B | $34.5M | ||
| Q1 24 | $11.1B | $18.6M |
总债务ABNBLTH
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $2.0B |
股东权益ABNBLTH
| Q4 25 | $8.2B | $3.1B | ||
| Q3 25 | $8.6B | $3.0B | ||
| Q2 25 | $7.8B | $2.9B | ||
| Q1 25 | $7.9B | $2.7B | ||
| Q4 24 | $8.4B | $2.6B | ||
| Q3 24 | $8.5B | $2.6B | ||
| Q2 24 | $8.0B | $2.4B | ||
| Q1 24 | $7.9B | $2.3B |
总资产ABNBLTH
| Q4 25 | $22.2B | $8.0B | ||
| Q3 25 | $23.1B | $7.8B | ||
| Q2 25 | $27.0B | $7.6B | ||
| Q1 25 | $25.1B | $7.3B | ||
| Q4 24 | $21.0B | $7.2B | ||
| Q3 24 | $22.2B | $7.2B | ||
| Q2 24 | $26.3B | $7.1B | ||
| Q1 24 | $24.5B | $7.1B |
负债/权益比ABNBLTH
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.87× |
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 | $239.9M |
| 自由现金流经营现金流 - 资本支出 | — | $-64.6M |
| 自由现金流率自由现金流/营收 | — | -8.7% |
| 资本支出强度资本支出/营收 | — | 40.9% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.95× |
| 过去12个月自由现金流最近4个季度 | — | $-21.0M |
8季度趋势，按日历期对齐
经营现金流ABNBLTH
| Q4 25 | $526.0M | $239.9M | ||
| Q3 25 | $1.4B | $251.1M | ||
| Q2 25 | $975.0M | $195.7M | ||
| Q1 25 | $1.8B | $183.9M | ||
| Q4 24 | $466.0M | $163.1M | ||
| Q3 24 | $1.1B | $151.1M | ||
| Q2 24 | $1.1B | $170.4M | ||
| Q1 24 | $1.9B | $90.4M |
自由现金流ABNBLTH
| Q4 25 | — | $-64.6M | ||
| Q3 25 | — | $28.6M | ||
| Q2 25 | — | $-26.3M | ||
| Q1 25 | — | $41.4M | ||
| Q4 24 | — | $26.8M | ||
| Q3 24 | — | $64.0M | ||
| Q2 24 | — | $26.1M | ||
| Q1 24 | — | $-66.4M |
自由现金流率ABNBLTH
| Q4 25 | — | -8.7% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | -3.5% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 9.2% | ||
| Q2 24 | — | 3.9% | ||
| Q1 24 | — | -11.1% |
资本支出强度ABNBLTH
| Q4 25 | — | 40.9% | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | — | 29.2% | ||
| Q1 25 | — | 20.2% | ||
| Q4 24 | — | 20.6% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 21.6% | ||
| Q1 24 | — | 26.3% |
现金转化率ABNBLTH
| Q4 25 | 1.54× | 1.95× | ||
| Q3 25 | 0.99× | 2.45× | ||
| Q2 25 | 1.52× | 2.71× | ||
| Q1 25 | 11.62× | 2.41× | ||
| Q4 24 | 1.01× | 4.39× | ||
| Q3 24 | 0.79× | 3.65× | ||
| Q2 24 | 1.89× | 3.23× | ||
| Q1 24 | 7.28× | 3.63× |
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% |
LTH
| Membership | $535.1M | 72% |
| In Center | $191.2M | 26% |
| Other | $18.8M | 3% |
