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爱彼迎（ABNB）与Sonos Inc（SONO）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Sonos Inc的9.6倍（$2.8B vs $287.9M）。爱彼迎净利率更高（12.3% vs -13.1%，领先25.4%）。Sonos Inc同比增速更快（12.7% vs 12.0%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -31.5%）
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。
Sonos Inc是总部位于美国加利福尼亚州圣巴巴拉的音频设备制造商，由约翰·麦克法兰、克雷格·谢尔本、汤姆·卡伦与钟·麦于2002年联合创立，专注于音频技术研发与相关产品生产，旗下产品在全球消费音频市场拥有较高的用户认可度。
ABNB vs SONO — 直观对比
营收规模更大
ABNB
是对方的9.6倍
$287.9M
营收增速更快
SONO
高出0.7%
12.0%
净利率更高
ABNB
高出25.4%
-13.1%
两年增速更快
ABNB
近两年复合增速
-31.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $287.9M |
| 净利润 | $341.0M | $-37.9M |
| 毛利率 | 82.5% | 43.7% |
| 营业利润率 | 9.7% | -12.0% |
| 净利率 | 12.3% | -13.1% |
| 营收同比 | 12.0% | 12.7% |
| 净利润同比 | -26.0% | 28.7% |
| 每股收益（稀释后） | — | $-0.30 |
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ABNBSONO
| Q4 25 | $2.8B | — | ||
| Q3 25 | $4.1B | $287.9M | ||
| Q2 25 | $3.1B | $344.8M | ||
| Q1 25 | $2.3B | $259.8M | ||
| Q4 24 | $2.5B | $550.9M | ||
| Q3 24 | $3.7B | $255.4M | ||
| Q2 24 | $2.7B | $397.1M | ||
| Q1 24 | $2.1B | $252.7M |
净利润ABNBSONO
| Q4 25 | $341.0M | — | ||
| Q3 25 | $1.4B | $-37.9M | ||
| Q2 25 | $642.0M | $-3.4M | ||
| Q1 25 | $154.0M | $-70.1M | ||
| Q4 24 | $461.0M | $50.2M | ||
| Q3 24 | $1.4B | $-53.1M | ||
| Q2 24 | $555.0M | $3.7M | ||
| Q1 24 | $264.0M | $-69.7M |
毛利率ABNBSONO
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | 43.7% | ||
| Q2 25 | 82.4% | 43.4% | ||
| Q1 25 | 77.7% | 43.7% | ||
| Q4 24 | 82.8% | 43.8% | ||
| Q3 24 | 87.5% | 40.3% | ||
| Q2 24 | 81.6% | 48.3% | ||
| Q1 24 | 77.6% | 44.3% |
营业利润率ABNBSONO
| Q4 25 | 9.7% | — | ||
| Q3 25 | 39.7% | -12.0% | ||
| Q2 25 | 19.8% | -0.8% | ||
| Q1 25 | 1.7% | -23.6% | ||
| Q4 24 | 17.3% | 8.7% | ||
| Q3 24 | 40.9% | -27.2% | ||
| Q2 24 | 18.1% | 3.2% | ||
| Q1 24 | 4.7% | -28.1% |
净利率ABNBSONO
| Q4 25 | 12.3% | — | ||
| Q3 25 | 33.6% | -13.1% | ||
| Q2 25 | 20.7% | -1.0% | ||
| Q1 25 | 6.8% | -27.0% | ||
| Q4 24 | 18.6% | 9.1% | ||
| Q3 24 | 36.7% | -20.8% | ||
| Q2 24 | 20.2% | 0.9% | ||
| Q1 24 | 12.3% | -27.6% |
每股收益（稀释后）ABNBSONO
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.30 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | — | $-0.58 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | — | $-0.42 | ||
| Q2 24 | — | $0.03 | ||
| Q1 24 | — | $-0.56 |
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 | $174.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $355.2M |
| 总资产 | $22.2B | $823.3M |
| 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ABNBSONO
| Q4 25 | $11.0B | — | ||
| Q3 25 | $11.7B | $174.7M | ||
| Q2 25 | $11.4B | $201.3M | ||
| Q1 25 | $11.5B | $173.2M | ||
| Q4 24 | $10.6B | $280.0M | ||
| Q3 24 | $11.3B | $169.7M | ||
| Q2 24 | $11.3B | $227.1M | ||
| Q1 24 | $11.1B | $246.0M |
股东权益ABNBSONO
| Q4 25 | $8.2B | — | ||
| Q3 25 | $8.6B | $355.2M | ||
| Q2 25 | $7.8B | $399.3M | ||
| Q1 25 | $7.9B | $382.9M | ||
| Q4 24 | $8.4B | $469.1M | ||
| Q3 24 | $8.5B | $428.6M | ||
| Q2 24 | $8.0B | $464.4M | ||
| Q1 24 | $7.9B | $494.0M |
总资产ABNBSONO
| Q4 25 | $22.2B | — | ||
| Q3 25 | $23.1B | $823.3M | ||
| Q2 25 | $27.0B | $834.4M | ||
| Q1 25 | $25.1B | $792.2M | ||
| Q4 24 | $21.0B | $963.6M | ||
| Q3 24 | $22.2B | $916.3M | ||
| Q2 24 | $26.3B | $961.1M | ||
| Q1 24 | $24.5B | $925.6M |
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 | $2.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.54× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ABNBSONO
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | $2.9M | ||
| Q2 25 | $975.0M | $37.4M | ||
| Q1 25 | $1.8B | $-59.7M | ||
| Q4 24 | $466.0M | $156.2M | ||
| Q3 24 | $1.1B | $-37.7M | ||
| Q2 24 | $1.1B | $63.5M | ||
| Q1 24 | $1.9B | $-111.2M |
自由现金流ABNBSONO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $32.7M | ||
| Q1 25 | — | $-65.2M | ||
| Q4 24 | — | $143.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $40.3M | ||
| Q1 24 | — | $-121.4M |
自由现金流率ABNBSONO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | -25.1% | ||
| Q4 24 | — | 26.0% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 10.1% | ||
| Q1 24 | — | -48.1% |
资本支出强度ABNBSONO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 4.0% |
现金转化率ABNBSONO
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | 3.11× | ||
| Q3 24 | 0.79× | — | ||
| Q2 24 | 1.89× | 17.12× | ||
| 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% |
SONO
| Sonos Speakers | $206.5M | 72% |
| Sonos System Products | $65.2M | 23% |
| Partner Products And Other Revenue | $16.2M | 6% |
