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爱彼迎（ABNB）与普尔斯马特（PSMT）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普尔斯马特的2.0倍（$2.8B vs $1.4B）。爱彼迎净利率更高（12.3% vs 2.9%，领先9.4%）。爱彼迎同比增速更快（12.0% vs 9.9%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 3.5%）
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。
PriceSmart（普尔斯马特）是一家美资会员制仓储商超运营商，业务覆盖中美洲、加勒比地区及南美洲。公司由Price Club的创立者索尔·普莱斯与罗伯特·普莱斯共同创办，罗伯特·普莱斯现任董事会主席。
ABNB vs PSMT — 直观对比
营收规模更大
ABNB
是对方的2.0倍
$1.4B
营收增速更快
ABNB
高出2.1%
9.9%
净利率更高
ABNB
高出9.4%
2.9%
两年增速更快
ABNB
近两年复合增速
3.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.4B |
| 净利润 | $341.0M | $40.2M |
| 毛利率 | 82.5% | 17.7% |
| 营业利润率 | 9.7% | 4.6% |
| 净利率 | 12.3% | 2.9% |
| 营收同比 | 12.0% | 9.9% |
| 净利润同比 | -26.0% | 7.3% |
| 每股收益（稀释后） | — | $1.29 |
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ABNBPSMT
| Q4 25 | $2.8B | $1.4B | ||
| Q3 25 | $4.1B | $1.3B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $2.3B | $1.4B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $3.7B | $1.2B | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.1B | $1.3B |
净利润ABNBPSMT
| Q4 25 | $341.0M | $40.2M | ||
| Q3 25 | $1.4B | $31.5M | ||
| Q2 25 | $642.0M | $35.2M | ||
| Q1 25 | $154.0M | $43.8M | ||
| Q4 24 | $461.0M | $37.4M | ||
| Q3 24 | $1.4B | $29.1M | ||
| Q2 24 | $555.0M | $32.5M | ||
| Q1 24 | $264.0M | $39.3M |
毛利率ABNBPSMT
| Q4 25 | 82.5% | 17.7% | ||
| Q3 25 | 86.6% | — | ||
| Q2 25 | 82.4% | — | ||
| Q1 25 | 77.7% | 17.1% | ||
| Q4 24 | 82.8% | 17.4% | ||
| Q3 24 | 87.5% | — | ||
| Q2 24 | 81.6% | — | ||
| Q1 24 | 77.6% | — |
营业利润率ABNBPSMT
| Q4 25 | 9.7% | 4.6% | ||
| Q3 25 | 39.7% | 4.0% | ||
| Q2 25 | 19.8% | 4.3% | ||
| Q1 25 | 1.7% | 4.8% | ||
| Q4 24 | 17.3% | 4.6% | ||
| Q3 24 | 40.9% | 4.0% | ||
| Q2 24 | 18.1% | 4.1% | ||
| Q1 24 | 4.7% | 4.9% |
净利率ABNBPSMT
| Q4 25 | 12.3% | 2.9% | ||
| Q3 25 | 33.6% | 2.4% | ||
| Q2 25 | 20.7% | 2.7% | ||
| Q1 25 | 6.8% | 3.2% | ||
| Q4 24 | 18.6% | 3.0% | ||
| Q3 24 | 36.7% | 2.4% | ||
| Q2 24 | 20.2% | 2.6% | ||
| Q1 24 | 12.3% | 3.0% |
每股收益（稀释后）ABNBPSMT
| Q4 25 | — | $1.29 | ||
| Q3 25 | — | $1.02 | ||
| Q2 25 | — | $1.14 | ||
| Q1 25 | — | $1.45 | ||
| Q4 24 | — | $1.21 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | $1.08 | ||
| Q1 24 | — | $1.31 |
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 | $320.6M |
| 总债务越低越好 | — | $180.3M |
| 股东权益账面价值 | $8.2B | $1.3B |
| 总资产 | $22.2B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资ABNBPSMT
| Q4 25 | $11.0B | $320.6M | ||
| Q3 25 | $11.7B | $314.2M | ||
| Q2 25 | $11.4B | $262.4M | ||
| Q1 25 | $11.5B | $247.3M | ||
| Q4 24 | $10.6B | $222.2M | ||
| Q3 24 | $11.3B | $225.5M | ||
| Q2 24 | $11.3B | $228.2M | ||
| Q1 24 | $11.1B | $264.2M |
总债务ABNBPSMT
| Q4 25 | — | $180.3M | ||
| Q3 25 | — | $186.6M | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | $107.1M | ||
| Q4 24 | — | $115.6M | ||
| Q3 24 | — | $130.4M | ||
| Q2 24 | — | $135.1M | ||
| Q1 24 | — | $140.0M |
股东权益ABNBPSMT
| Q4 25 | $8.2B | $1.3B | ||
| Q3 25 | $8.6B | $1.2B | ||
| Q2 25 | $7.8B | $1.2B | ||
| Q1 25 | $7.9B | $1.2B | ||
| Q4 24 | $8.4B | $1.2B | ||
| Q3 24 | $8.5B | $1.1B | ||
| Q2 24 | $8.0B | $1.1B | ||
| Q1 24 | $7.9B | $1.1B |
总资产ABNBPSMT
| Q4 25 | $22.2B | $2.4B | ||
| Q3 25 | $23.1B | $2.3B | ||
| Q2 25 | $27.0B | $2.1B | ||
| Q1 25 | $25.1B | $2.1B | ||
| Q4 24 | $21.0B | $2.1B | ||
| Q3 24 | $22.2B | $2.0B | ||
| Q2 24 | $26.3B | $2.0B | ||
| Q1 24 | $24.5B | $2.0B |
负债/权益比ABNBPSMT
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.13× |
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 | $71.2M |
| 自由现金流经营现金流 - 资本支出 | — | $32.6M |
| 自由现金流率自由现金流/营收 | — | 2.4% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $125.5M |
8季度趋势，按日历期对齐
经营现金流ABNBPSMT
| Q4 25 | $526.0M | $71.2M | ||
| Q3 25 | $1.4B | $82.1M | ||
| Q2 25 | $975.0M | $52.8M | ||
| Q1 25 | $1.8B | $87.9M | ||
| Q4 24 | $466.0M | $38.5M | ||
| Q3 24 | $1.1B | $41.8M | ||
| Q2 24 | $1.1B | $38.1M | ||
| Q1 24 | $1.9B | $86.6M |
自由现金流ABNBPSMT
| Q4 25 | — | $32.6M | ||
| Q3 25 | — | $25.6M | ||
| Q2 25 | — | $14.0M | ||
| Q1 25 | — | $53.2M | ||
| Q4 24 | — | $10.3M | ||
| Q3 24 | — | $15.2M | ||
| Q2 24 | — | $-308.0K | ||
| Q1 24 | — | $16.4M |
自由现金流率ABNBPSMT
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | -0.0% | ||
| Q1 24 | — | 1.3% |
资本支出强度ABNBPSMT
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 4.2% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 5.4% |
现金转化率ABNBPSMT
| Q4 25 | 1.54× | 1.77× | ||
| Q3 25 | 0.99× | 2.60× | ||
| Q2 25 | 1.52× | 1.50× | ||
| Q1 25 | 11.62× | 2.01× | ||
| Q4 24 | 1.01× | 1.03× | ||
| Q3 24 | 0.79× | 1.44× | ||
| Q2 24 | 1.89× | 1.17× | ||
| Q1 24 | 7.28× | 2.20× |
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% |
PSMT
| Fresh Foods | $454.9M | 33% |
| Caribbean Operations Segment | $396.5M | 29% |
| Colombia Operations Segment | $204.1M | 15% |
| Hardlines | $162.6M | 12% |
| Softlines | $99.8M | 7% |
| ship Income Member | $24.5M | 2% |
| Health Services | $14.5M | 1% |
| Other Revenue And Income | $4.2M | 0% |
| United States Operations Segment | $510.0K | 0% |
| Export Sales | $359.0K | 0% |
