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爱彼迎（ABNB）与SPORTSMAN'S WAREHOUSE HOLDINGS, INC.（SPWH）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SPORTSMAN'S WAREHOUSE HOLDINGS, INC.的8.4倍（$2.8B vs $331.3M）。爱彼迎净利率更高（12.3% vs 0.0%，领先12.3%）。爱彼迎同比增速更快（12.0% vs 2.2%）。过去两年爱彼迎的营收复合增速更高（13.9% vs -5.4%）
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。
运动员仓库控股（Sportsman's Warehouse）是美国户外体育用品零售商，门店遍布全美29个州，主要面向狩猎、射击、露营、垂钓等各类户外休闲运动爱好者，销售户外服饰、鞋履及专业运动装备。
ABNB vs SPWH — 直观对比
营收规模更大
ABNB
是对方的8.4倍
$331.3M
营收增速更快
ABNB
高出9.8%
2.2%
净利率更高
ABNB
高出12.3%
0.0%
两年增速更快
ABNB
近两年复合增速
-5.4%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $331.3M |
| 净利润 | $341.0M | $8.0K |
| 毛利率 | 82.5% | 32.8% |
| 营业利润率 | 9.7% | 1.3% |
| 净利率 | 12.3% | 0.0% |
| 营收同比 | 12.0% | 2.2% |
| 净利润同比 | -26.0% | -97.8% |
| 每股收益（稀释后） | — | $0.00 |
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ABNBSPWH
| Q4 25 | $2.8B | $331.3M | ||
| Q3 25 | $4.1B | $293.9M | ||
| Q2 25 | $3.1B | $249.1M | ||
| Q1 25 | $2.3B | $340.4M | ||
| Q4 24 | $2.5B | $324.3M | ||
| Q3 24 | $3.7B | $288.7M | ||
| Q2 24 | $2.7B | $244.2M | ||
| Q1 24 | $2.1B | $370.4M |
净利润ABNBSPWH
| Q4 25 | $341.0M | $8.0K | ||
| Q3 25 | $1.4B | $-7.1M | ||
| Q2 25 | $642.0M | $-21.3M | ||
| Q1 25 | $154.0M | $-8.7M | ||
| Q4 24 | $461.0M | $-364.0K | ||
| Q3 24 | $1.4B | $-5.9M | ||
| Q2 24 | $555.0M | $-18.1M | ||
| Q1 24 | $264.0M | $-8.7M |
毛利率ABNBSPWH
| Q4 25 | 82.5% | 32.8% | ||
| Q3 25 | 86.6% | 32.0% | ||
| Q2 25 | 82.4% | 30.4% | ||
| Q1 25 | 77.7% | 30.4% | ||
| Q4 24 | 82.8% | 31.8% | ||
| Q3 24 | 87.5% | 31.2% | ||
| Q2 24 | 81.6% | 30.2% | ||
| Q1 24 | 77.6% | 26.8% |
营业利润率ABNBSPWH
| Q4 25 | 9.7% | 1.3% | ||
| Q3 25 | 39.7% | -1.1% | ||
| Q2 25 | 19.8% | -7.9% | ||
| Q1 25 | 1.7% | 1.1% | ||
| Q4 24 | 17.3% | 1.0% | ||
| Q3 24 | 40.9% | -1.5% | ||
| Q2 24 | 18.1% | -8.4% | ||
| Q1 24 | 4.7% | -2.1% |
净利率ABNBSPWH
| Q4 25 | 12.3% | 0.0% | ||
| Q3 25 | 33.6% | -2.4% | ||
| Q2 25 | 20.7% | -8.5% | ||
| Q1 25 | 6.8% | -2.6% | ||
| Q4 24 | 18.6% | -0.1% | ||
| Q3 24 | 36.7% | -2.0% | ||
| Q2 24 | 20.2% | -7.4% | ||
| Q1 24 | 12.3% | -2.4% |
每股收益（稀释后）ABNBSPWH
| Q4 25 | — | $0.00 | ||
| Q3 25 | — | $-0.18 | ||
| Q2 25 | — | $-0.56 | ||
| Q1 25 | — | $-0.22 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | — | $-0.16 | ||
| Q2 24 | — | $-0.48 | ||
| Q1 24 | — | $-0.22 |
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 | $2.2M |
| 总债务越低越好 | — | $44.0M |
| 股东权益账面价值 | $8.2B | $209.5M |
| 总资产 | $22.2B | $913.9M |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资ABNBSPWH
| Q4 25 | $11.0B | $2.2M | ||
| Q3 25 | $11.7B | $1.8M | ||
| Q2 25 | $11.4B | $3.6M | ||
| Q1 25 | $11.5B | $2.8M | ||
| Q4 24 | $10.6B | $2.7M | ||
| Q3 24 | $11.3B | $2.6M | ||
| Q2 24 | $11.3B | $2.2M | ||
| Q1 24 | $11.1B | $3.1M |
总债务ABNBSPWH
| Q4 25 | — | $44.0M | ||
| Q3 25 | — | $43.9M | ||
| Q2 25 | — | $24.1M | ||
| Q1 25 | — | $24.1M | ||
| Q4 24 | — | $24.0M | ||
| Q3 24 | — | $24.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ABNBSPWH
| Q4 25 | $8.2B | $209.5M | ||
| Q3 25 | $8.6B | $208.9M | ||
| Q2 25 | $7.8B | $215.1M | ||
| Q1 25 | $7.9B | $235.7M | ||
| Q4 24 | $8.4B | $243.6M | ||
| Q3 24 | $8.5B | $243.0M | ||
| Q2 24 | $8.0B | $247.5M | ||
| Q1 24 | $7.9B | $264.6M |
总资产ABNBSPWH
| Q4 25 | $22.2B | $913.9M | ||
| Q3 25 | $23.1B | $948.9M | ||
| Q2 25 | $27.0B | $929.7M | ||
| Q1 25 | $25.1B | $852.1M | ||
| Q4 24 | $21.0B | $967.7M | ||
| Q3 24 | $22.2B | $901.9M | ||
| Q2 24 | $26.3B | $930.4M | ||
| Q1 24 | $24.5B | $886.2M |
负债/权益比ABNBSPWH
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $16.3M |
| 自由现金流经营现金流 - 资本支出 | — | $8.7M |
| 自由现金流率自由现金流/营收 | — | 2.6% |
| 资本支出强度资本支出/营收 | — | 2.3% |
| 现金转化率经营现金流/净利润 | 1.54× | 2038.00× |
| 过去12个月自由现金流最近4个季度 | — | $-39.7M |
8季度趋势，按日历期对齐
经营现金流ABNBSPWH
| Q4 25 | $526.0M | $16.3M | ||
| Q3 25 | $1.4B | $-26.6M | ||
| Q2 25 | $975.0M | $-60.2M | ||
| Q1 25 | $1.8B | $52.8M | ||
| Q4 24 | $466.0M | $-2.5M | ||
| Q3 24 | $1.1B | $18.5M | ||
| Q2 24 | $1.1B | $-34.6M | ||
| Q1 24 | $1.9B | $68.9M |
自由现金流ABNBSPWH
| Q4 25 | — | $8.7M | ||
| Q3 25 | — | $-33.9M | ||
| Q2 25 | — | $-64.0M | ||
| Q1 25 | — | $49.6M | ||
| Q4 24 | — | $-6.2M | ||
| Q3 24 | — | $14.1M | ||
| Q2 24 | — | $-38.0M | ||
| Q1 24 | — | $60.2M |
自由现金流率ABNBSPWH
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | -11.5% | ||
| Q2 25 | — | -25.7% | ||
| Q1 25 | — | 14.6% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | — | 4.9% | ||
| Q2 24 | — | -15.5% | ||
| Q1 24 | — | 16.2% |
资本支出强度ABNBSPWH
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 2.4% |
现金转化率ABNBSPWH
| Q4 25 | 1.54× | 2038.00× | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| 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% |
SPWH
暂无分部数据
