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爱彼迎（ABNB）与ROKU, INC（ROKU）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ROKU, INC的2.0倍（$2.8B vs $1.4B），爱彼迎净利率更高（12.3% vs 5.8%，领先6.5%），ROKU, INC同比增速更快（16.1% vs 12.0%），过去两年ROKU, INC的营收复合增速更高（25.8% vs 13.9%）
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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
ABNB vs ROKU — 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
ROKU
高出4.1%
12.0%
净利率更高
ABNB
高出6.5%
5.8%
两年增速更快
ROKU
近两年复合增速
13.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.4B |
| 净利润 | $341.0M | $80.5M |
| 毛利率 | 82.5% | 43.5% |
| 营业利润率 | 9.7% | 4.7% |
| 净利率 | 12.3% | 5.8% |
| 营收同比 | 12.0% | 16.1% |
| 净利润同比 | -26.0% | 326.4% |
| 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ABNBROKU
| Q4 25 | $2.8B | $1.4B | ||
| Q3 25 | $4.1B | $1.2B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $2.3B | $1.0B | ||
| Q4 24 | $2.5B | $1.2B | ||
| Q3 24 | $3.7B | $1.1B | ||
| Q2 24 | $2.7B | $968.2M | ||
| Q1 24 | $2.1B | $881.5M |
净利润ABNBROKU
| Q4 25 | $341.0M | $80.5M | ||
| Q3 25 | $1.4B | $24.8M | ||
| Q2 25 | $642.0M | $10.5M | ||
| Q1 25 | $154.0M | $-27.4M | ||
| Q4 24 | $461.0M | $-35.5M | ||
| Q3 24 | $1.4B | $-9.0M | ||
| Q2 24 | $555.0M | $-34.0M | ||
| Q1 24 | $264.0M | $-50.9M |
毛利率ABNBROKU
| Q4 25 | 82.5% | 43.5% | ||
| Q3 25 | 86.6% | 43.4% | ||
| Q2 25 | 82.4% | 44.8% | ||
| Q1 25 | 77.7% | 43.6% | ||
| Q4 24 | 82.8% | 42.7% | ||
| Q3 24 | 87.5% | 45.2% | ||
| Q2 24 | 81.6% | 43.9% | ||
| Q1 24 | 77.6% | 44.1% |
营业利润率ABNBROKU
| Q4 25 | 9.7% | 4.7% | ||
| Q3 25 | 39.7% | 0.8% | ||
| Q2 25 | 19.8% | -2.1% | ||
| Q1 25 | 1.7% | -5.7% | ||
| Q4 24 | 17.3% | -3.3% | ||
| Q3 24 | 40.9% | -3.4% | ||
| Q2 24 | 18.1% | -7.4% | ||
| Q1 24 | 4.7% | -8.2% |
净利率ABNBROKU
| Q4 25 | 12.3% | 5.8% | ||
| Q3 25 | 33.6% | 2.0% | ||
| Q2 25 | 20.7% | 0.9% | ||
| Q1 25 | 6.8% | -2.7% | ||
| Q4 24 | 18.6% | -3.0% | ||
| Q3 24 | 36.7% | -0.9% | ||
| Q2 24 | 20.2% | -3.5% | ||
| Q1 24 | 12.3% | -5.8% |
每股收益（稀释后）ABNBROKU
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $-0.35 |
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 | $2.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $2.7B |
| 总资产 | $22.2B | $4.4B |
| 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ABNBROKU
| Q4 25 | $11.0B | $2.3B | ||
| Q3 25 | $11.7B | $2.3B | ||
| Q2 25 | $11.4B | $2.3B | ||
| Q1 25 | $11.5B | $2.3B | ||
| Q4 24 | $10.6B | $2.2B | ||
| Q3 24 | $11.3B | $2.1B | ||
| Q2 24 | $11.3B | $2.1B | ||
| Q1 24 | $11.1B | $2.1B |
股东权益ABNBROKU
| Q4 25 | $8.2B | $2.7B | ||
| Q3 25 | $8.6B | $2.6B | ||
| Q2 25 | $7.8B | $2.6B | ||
| Q1 25 | $7.9B | $2.5B | ||
| Q4 24 | $8.4B | $2.5B | ||
| Q3 24 | $8.5B | $2.5B | ||
| Q2 24 | $8.0B | $2.4B | ||
| Q1 24 | $7.9B | $2.4B |
总资产ABNBROKU
| Q4 25 | $22.2B | $4.4B | ||
| Q3 25 | $23.1B | $4.4B | ||
| Q2 25 | $27.0B | $4.3B | ||
| Q1 25 | $25.1B | $4.2B | ||
| Q4 24 | $21.0B | $4.3B | ||
| Q3 24 | $22.2B | $4.3B | ||
| Q2 24 | $26.3B | $4.1B | ||
| Q1 24 | $24.5B | $4.2B |
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 | $107.7M |
| 自由现金流经营现金流 - 资本支出 | — | $106.6M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 1.54× | 1.34× |
| 过去12个月自由现金流最近4个季度 | — | $478.4M |
8季度趋势，按日历期对齐
经营现金流ABNBROKU
| Q4 25 | $526.0M | $107.7M | ||
| Q3 25 | $1.4B | $127.6M | ||
| Q2 25 | $975.0M | $109.7M | ||
| Q1 25 | $1.8B | $138.7M | ||
| Q4 24 | $466.0M | $79.3M | ||
| Q3 24 | $1.1B | $68.7M | ||
| Q2 24 | $1.1B | $23.4M | ||
| Q1 24 | $1.9B | $46.7M |
自由现金流ABNBROKU
| Q4 25 | — | $106.6M | ||
| Q3 25 | — | $126.5M | ||
| Q2 25 | — | $108.6M | ||
| Q1 25 | — | $136.8M | ||
| Q4 24 | — | $76.8M | ||
| Q3 24 | — | $67.6M | ||
| Q2 24 | — | $22.5M | ||
| Q1 24 | — | $46.0M |
自由现金流率ABNBROKU
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 5.2% |
资本支出强度ABNBROKU
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.1% |
现金转化率ABNBROKU
| Q4 25 | 1.54× | 1.34× | ||
| Q3 25 | 0.99× | 5.14× | ||
| Q2 25 | 1.52× | 10.45× | ||
| 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% |
ROKU
| Services | $1.2B | 88% |
| Products | $170.9M | 12% |
