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爱彼迎（ABNB）与如新（NUS）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如新的7.5倍（$2.8B vs $370.3M）。爱彼迎净利率更高（12.3% vs 3.9%，领先8.4%）。爱彼迎同比增速更快（12.0% vs -16.9%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -5.8%）
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。
如新企业集团是一家美国多层次直销企业，主打研发并销售个人护理产品与营养膳食补充产品，旗下拥有Nu Skin及Pharmanex两大品牌，目前已在全球54个市场开展业务，依托约120万独立销售代表的销售网络覆盖全球市场。
ABNB vs NUS — 直观对比
营收规模更大
ABNB
是对方的7.5倍
$370.3M
营收增速更快
ABNB
高出28.9%
-16.9%
净利率更高
ABNB
高出8.4%
3.9%
两年增速更快
ABNB
近两年复合增速
-5.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $370.3M |
| 净利润 | $341.0M | $14.5M |
| 毛利率 | 82.5% | 70.7% |
| 营业利润率 | 9.7% | 6.3% |
| 净利率 | 12.3% | 3.9% |
| 营收同比 | 12.0% | -16.9% |
| 净利润同比 | -26.0% | 140.1% |
| 每股收益（稀释后） | — | $0.27 |
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ABNBNUS
| Q4 25 | $2.8B | $370.3M | ||
| Q3 25 | $4.1B | $364.2M | ||
| Q2 25 | $3.1B | $386.1M | ||
| Q1 25 | $2.3B | $364.5M | ||
| Q4 24 | $2.5B | $445.6M | ||
| Q3 24 | $3.7B | $430.1M | ||
| Q2 24 | $2.7B | $439.1M | ||
| Q1 24 | $2.1B | $417.3M |
净利润ABNBNUS
| Q4 25 | $341.0M | $14.5M | ||
| Q3 25 | $1.4B | $17.1M | ||
| Q2 25 | $642.0M | $21.1M | ||
| Q1 25 | $154.0M | $107.5M | ||
| Q4 24 | $461.0M | $-36.1M | ||
| Q3 24 | $1.4B | $8.3M | ||
| Q2 24 | $555.0M | $-118.3M | ||
| Q1 24 | $264.0M | $-533.0K |
毛利率ABNBNUS
| Q4 25 | 82.5% | 70.7% | ||
| Q3 25 | 86.6% | 70.5% | ||
| Q2 25 | 82.4% | 68.8% | ||
| Q1 25 | 77.7% | 67.8% | ||
| Q4 24 | 82.8% | 62.7% | ||
| Q3 24 | 87.5% | 70.1% | ||
| Q2 24 | 81.6% | 70.0% | ||
| Q1 24 | 77.6% | 70.5% |
营业利润率ABNBNUS
| Q4 25 | 9.7% | 6.3% | ||
| Q3 25 | 39.7% | 5.9% | ||
| Q2 25 | 19.8% | 8.0% | ||
| Q1 25 | 1.7% | -2.7% | ||
| Q4 24 | 17.3% | -11.9% | ||
| Q3 24 | 40.9% | 4.2% | ||
| Q2 24 | 18.1% | -28.6% | ||
| Q1 24 | 4.7% | 2.1% |
净利率ABNBNUS
| Q4 25 | 12.3% | 3.9% | ||
| Q3 25 | 33.6% | 4.7% | ||
| Q2 25 | 20.7% | 5.5% | ||
| Q1 25 | 6.8% | 29.5% | ||
| Q4 24 | 18.6% | -8.1% | ||
| Q3 24 | 36.7% | 1.9% | ||
| Q2 24 | 20.2% | -26.9% | ||
| Q1 24 | 12.3% | -0.1% |
每股收益（稀释后）ABNBNUS
| Q4 25 | — | $0.27 | ||
| Q3 25 | — | $0.34 | ||
| Q2 25 | — | $0.43 | ||
| Q1 25 | — | $2.14 | ||
| Q4 24 | — | $-0.73 | ||
| Q3 24 | — | $0.17 | ||
| Q2 24 | — | $-2.38 | ||
| Q1 24 | — | $-0.01 |
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 | $239.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $805.2M |
| 总资产 | $22.2B | $1.4B |
| 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ABNBNUS
| Q4 25 | $11.0B | $239.8M | ||
| Q3 25 | $11.7B | $253.0M | ||
| Q2 25 | $11.4B | $265.4M | ||
| Q1 25 | $11.5B | $213.6M | ||
| Q4 24 | $10.6B | $198.0M | ||
| Q3 24 | $11.3B | $237.8M | ||
| Q2 24 | $11.3B | $232.9M | ||
| Q1 24 | $11.1B | $221.2M |
股东权益ABNBNUS
| Q4 25 | $8.2B | $805.2M | ||
| Q3 25 | $8.6B | $799.8M | ||
| Q2 25 | $7.8B | $787.8M | ||
| Q1 25 | $7.9B | $754.0M | ||
| Q4 24 | $8.4B | $651.5M | ||
| Q3 24 | $8.5B | $706.9M | ||
| Q2 24 | $8.0B | $686.2M | ||
| Q1 24 | $7.9B | $810.2M |
总资产ABNBNUS
| Q4 25 | $22.2B | $1.4B | ||
| Q3 25 | $23.1B | $1.4B | ||
| Q2 25 | $27.0B | $1.4B | ||
| Q1 25 | $25.1B | $1.4B | ||
| Q4 24 | $21.0B | $1.5B | ||
| Q3 24 | $22.2B | $1.6B | ||
| Q2 24 | $26.3B | $1.6B | ||
| Q1 24 | $24.5B | $1.7B |
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 | $16.6M |
| 自由现金流经营现金流 - 资本支出 | — | $5.9M |
| 自由现金流率自由现金流/营收 | — | 1.6% |
| 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× | 1.15× |
| 过去12个月自由现金流最近4个季度 | — | $46.0M |
8季度趋势，按日历期对齐
经营现金流ABNBNUS
| Q4 25 | $526.0M | $16.6M | ||
| Q3 25 | $1.4B | $27.5M | ||
| Q2 25 | $975.0M | $35.8M | ||
| Q1 25 | $1.8B | $389.0K | ||
| Q4 24 | $466.0M | $25.8M | ||
| Q3 24 | $1.1B | $31.4M | ||
| Q2 24 | $1.1B | $51.2M | ||
| Q1 24 | $1.9B | $3.3M |
自由现金流ABNBNUS
| Q4 25 | — | $5.9M | ||
| Q3 25 | — | $17.6M | ||
| Q2 25 | — | $35.8M | ||
| Q1 25 | — | $-13.2M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $22.8M | ||
| Q2 24 | — | $43.1M | ||
| Q1 24 | — | $-9.0M |
自由现金流率ABNBNUS
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | -3.6% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 9.8% | ||
| Q1 24 | — | -2.1% |
资本支出强度ABNBNUS
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.9% |
现金转化率ABNBNUS
| Q4 25 | 1.54× | 1.15× | ||
| Q3 25 | 0.99× | 1.61× | ||
| Q2 25 | 1.52× | 1.69× | ||
| Q1 25 | 11.62× | 0.00× | ||
| Q4 24 | 1.01× | — | ||
| Q3 24 | 0.79× | 3.79× | ||
| 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% |
NUS
| Other | $161.9M | 44% |
| Mainland China Segment | $52.0M | 14% |
| Southeast Asia Pacific Segment | $50.5M | 14% |
| Europe And Africa Segment | $41.8M | 11% |
| Hong Kong Taiwan Segment | $29.6M | 8% |
| South Korea Segment | $28.4M | 8% |
| Rhyz Other Segment | $6.1M | 2% |
