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爱彼迎（ABNB）与ONESPAWORLD HOLDINGS Ltd（OSW）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ONESPAWORLD HOLDINGS Ltd的11.5倍（$2.8B vs $242.1M）。爱彼迎净利率更高（12.3% vs 5.0%，领先7.3%）。爱彼迎同比增速更快（12.0% vs 11.5%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 7.1%）
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。
ABNB vs OSW — 直观对比
营收规模更大
ABNB
是对方的11.5倍
$242.1M
营收增速更快
ABNB
高出0.5%
11.5%
净利率更高
ABNB
高出7.3%
5.0%
两年增速更快
ABNB
近两年复合增速
7.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $242.1M |
| 净利润 | $341.0M | $12.1M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 6.8% |
| 净利率 | 12.3% | 5.0% |
| 营收同比 | 12.0% | 11.5% |
| 净利润同比 | -26.0% | -16.2% |
| 每股收益（稀释后） | — | $0.12 |
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ABNBOSW
| Q4 25 | $2.8B | $242.1M | ||
| Q3 25 | $4.1B | $258.5M | ||
| Q2 25 | $3.1B | $240.7M | ||
| Q1 25 | $2.3B | $219.6M | ||
| Q4 24 | $2.5B | $217.2M | ||
| Q3 24 | $3.7B | $241.7M | ||
| Q2 24 | $2.7B | $224.9M | ||
| Q1 24 | $2.1B | $211.2M |
净利润ABNBOSW
| Q4 25 | $341.0M | $12.1M | ||
| Q3 25 | $1.4B | $24.3M | ||
| Q2 25 | $642.0M | $19.9M | ||
| Q1 25 | $154.0M | $15.3M | ||
| Q4 24 | $461.0M | $14.4M | ||
| Q3 24 | $1.4B | $21.6M | ||
| Q2 24 | $555.0M | $15.8M | ||
| Q1 24 | $264.0M | $21.2M |
毛利率ABNBOSW
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | — | ||
| Q2 25 | 82.4% | — | ||
| Q1 25 | 77.7% | — | ||
| Q4 24 | 82.8% | — | ||
| Q3 24 | 87.5% | — | ||
| Q2 24 | 81.6% | — | ||
| Q1 24 | 77.6% | — |
营业利润率ABNBOSW
| Q4 25 | 9.7% | 6.8% | ||
| Q3 25 | 39.7% | 10.2% | ||
| Q2 25 | 19.8% | 9.2% | ||
| Q1 25 | 1.7% | 7.7% | ||
| Q4 24 | 17.3% | 7.9% | ||
| Q3 24 | 40.9% | 10.3% | ||
| Q2 24 | 18.1% | 8.4% | ||
| Q1 24 | 4.7% | 8.0% |
净利率ABNBOSW
| Q4 25 | 12.3% | 5.0% | ||
| Q3 25 | 33.6% | 9.4% | ||
| Q2 25 | 20.7% | 8.3% | ||
| Q1 25 | 6.8% | 7.0% | ||
| Q4 24 | 18.6% | 6.6% | ||
| Q3 24 | 36.7% | 8.9% | ||
| Q2 24 | 20.2% | 7.0% | ||
| Q1 24 | 12.3% | 10.0% |
每股收益（稀释后）ABNBOSW
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.19 | ||
| Q1 25 | — | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.15 | ||
| Q1 24 | — | $0.21 |
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 | $16.3M |
| 总债务越低越好 | — | $84.0M |
| 股东权益账面价值 | $8.2B | $542.6M |
| 总资产 | $22.2B | $707.1M |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资ABNBOSW
| Q4 25 | $11.0B | $16.3M | ||
| Q3 25 | $11.7B | $29.6M | ||
| Q2 25 | $11.4B | $35.0M | ||
| Q1 25 | $11.5B | $22.6M | ||
| Q4 24 | $10.6B | $57.4M | ||
| Q3 24 | $11.3B | $48.8M | ||
| Q2 24 | $11.3B | $62.5M | ||
| Q1 24 | $11.1B | $65.4M |
总债务ABNBOSW
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
股东权益ABNBOSW
| Q4 25 | $8.2B | $542.6M | ||
| Q3 25 | $8.6B | $552.8M | ||
| Q2 25 | $7.8B | $548.3M | ||
| Q1 25 | $7.9B | $530.6M | ||
| Q4 24 | $8.4B | $554.5M | ||
| Q3 24 | $8.5B | $540.1M | ||
| Q2 24 | $8.0B | $532.7M | ||
| Q1 24 | $7.9B | $515.5M |
总资产ABNBOSW
| Q4 25 | $22.2B | $707.1M | ||
| Q3 25 | $23.1B | $732.6M | ||
| Q2 25 | $27.0B | $731.8M | ||
| Q1 25 | $25.1B | $708.7M | ||
| Q4 24 | $21.0B | $746.4M | ||
| Q3 24 | $22.2B | $734.0M | ||
| Q2 24 | $26.3B | $756.8M | ||
| Q1 24 | $24.5B | $763.6M |
负债/权益比ABNBOSW
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $20.0M |
| 自由现金流经营现金流 - 资本支出 | — | $14.9M |
| 自由现金流率自由现金流/营收 | — | 6.2% |
| 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× | 1.65× |
| 过去12个月自由现金流最近4个季度 | — | $68.4M |
8季度趋势，按日历期对齐
经营现金流ABNBOSW
| Q4 25 | $526.0M | $20.0M | ||
| Q3 25 | $1.4B | $33.2M | ||
| Q2 25 | $975.0M | $20.3M | ||
| Q1 25 | $1.8B | $10.1M | ||
| Q4 24 | $466.0M | $16.6M | ||
| Q3 24 | $1.1B | $28.6M | ||
| Q2 24 | $1.1B | $18.7M | ||
| Q1 24 | $1.9B | $15.0M |
自由现金流ABNBOSW
| Q4 25 | — | $14.9M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $17.6M | ||
| Q1 24 | — | $13.7M |
自由现金流率ABNBOSW
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 6.5% |
资本支出强度ABNBOSW
| Q4 25 | — | 2.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.6% |
现金转化率ABNBOSW
| Q4 25 | 1.54× | 1.65× | ||
| Q3 25 | 0.99× | 1.36× | ||
| Q2 25 | 1.52× | 1.02× | ||
| Q1 25 | 11.62× | 0.66× | ||
| Q4 24 | 1.01× | 1.15× | ||
| Q3 24 | 0.79× | 1.33× | ||
| Q2 24 | 1.89× | 1.19× | ||
| Q1 24 | 7.28× | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
