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爱彼迎（ABNB）与Target Hospitality Corp.（TH）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Target Hospitality Corp.的37.8倍（$2.8B vs $73.5M）。爱彼迎净利率更高（12.3% vs -20.3%，领先32.6%）。Target Hospitality Corp.同比增速更快（22.0% vs 12.0%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 0.7%）
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。
Target Hospitality是一家专业住宿服务提供商，主营石油、天然气及矿业项目用工住宿，也提供大型活动、灾后救援所需的临时模块化住宿，总部位于得克萨斯州伍德兰兹，同时在北达科他州威利斯顿、科罗拉多州丹佛以及阿尔伯塔省卡尔加里设有办事处。
ABNB vs TH — 直观对比
营收规模更大
ABNB
是对方的37.8倍
$73.5M
营收增速更快
TH
高出10.0%
12.0%
净利率更高
ABNB
高出32.6%
-20.3%
两年增速更快
ABNB
近两年复合增速
0.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $73.5M |
| 净利润 | $341.0M | $-14.9M |
| 毛利率 | 82.5% | 9.6% |
| 营业利润率 | 9.7% | -22.9% |
| 净利率 | 12.3% | -20.3% |
| 营收同比 | 12.0% | 22.0% |
| 净利润同比 | -26.0% | -219.1% |
| 每股收益（稀释后） | — | $-0.14 |
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ABNBTH
| Q4 25 | $2.8B | $73.5M | ||
| Q3 25 | $4.1B | $91.6M | ||
| Q2 25 | $3.1B | $54.9M | ||
| Q1 25 | $2.3B | $54.9M | ||
| Q4 24 | $2.5B | $60.2M | ||
| Q3 24 | $3.7B | $65.8M | ||
| Q2 24 | $2.7B | $67.5M | ||
| Q1 24 | $2.1B | $72.4M |
净利润ABNBTH
| Q4 25 | $341.0M | $-14.9M | ||
| Q3 25 | $1.4B | $-795.0K | ||
| Q2 25 | $642.0M | $-14.9M | ||
| Q1 25 | $154.0M | $-6.5M | ||
| Q4 24 | $461.0M | $12.5M | ||
| Q3 24 | $1.4B | $20.0M | ||
| Q2 24 | $555.0M | $18.4M | ||
| Q1 24 | $264.0M | $20.4M |
毛利率ABNBTH
| Q4 25 | 82.5% | 9.6% | ||
| Q3 25 | 86.6% | 19.6% | ||
| Q2 25 | 82.4% | -0.6% | ||
| Q1 25 | 77.7% | 32.7% | ||
| Q4 24 | 82.8% | 61.5% | ||
| Q3 24 | 87.5% | 68.7% | ||
| Q2 24 | 81.6% | 69.4% | ||
| Q1 24 | 77.6% | 67.8% |
营业利润率ABNBTH
| Q4 25 | 9.7% | -22.9% | ||
| Q3 25 | 39.7% | 0.1% | ||
| Q2 25 | 19.8% | -30.8% | ||
| Q1 25 | 1.7% | -2.0% | ||
| Q4 24 | 17.3% | 34.5% | ||
| Q3 24 | 40.9% | 42.5% | ||
| Q2 24 | 18.1% | 43.8% | ||
| Q1 24 | 4.7% | 42.0% |
净利率ABNBTH
| Q4 25 | 12.3% | -20.3% | ||
| Q3 25 | 33.6% | -0.9% | ||
| Q2 25 | 20.7% | -27.2% | ||
| Q1 25 | 6.8% | -11.8% | ||
| Q4 24 | 18.6% | 20.8% | ||
| Q3 24 | 36.7% | 30.4% | ||
| Q2 24 | 20.2% | 27.2% | ||
| Q1 24 | 12.3% | 28.2% |
每股收益（稀释后）ABNBTH
| Q4 25 | — | $-0.14 | ||
| Q3 25 | — | $-0.01 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.07 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.18 | ||
| Q1 24 | — | $0.20 |
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 | $8.3M |
| 总债务越低越好 | — | $1.7M |
| 股东权益账面价值 | $8.2B | $389.3M |
| 总资产 | $22.2B | $530.2M |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ABNBTH
| Q4 25 | $11.0B | $8.3M | ||
| Q3 25 | $11.7B | $30.4M | ||
| Q2 25 | $11.4B | $19.2M | ||
| Q1 25 | $11.5B | $34.5M | ||
| Q4 24 | $10.6B | $190.7M | ||
| Q3 24 | $11.3B | $177.7M | ||
| Q2 24 | $11.3B | $154.3M | ||
| Q1 24 | $11.1B | $124.3M |
总债务ABNBTH
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
股东权益ABNBTH
| Q4 25 | $8.2B | $389.3M | ||
| Q3 25 | $8.6B | $402.4M | ||
| Q2 25 | $7.8B | $401.3M | ||
| Q1 25 | $7.9B | $415.3M | ||
| Q4 24 | $8.4B | $421.1M | ||
| Q3 24 | $8.5B | $417.6M | ||
| Q2 24 | $8.0B | $397.2M | ||
| Q1 24 | $7.9B | $375.5M |
总资产ABNBTH
| Q4 25 | $22.2B | $530.2M | ||
| Q3 25 | $23.1B | $541.2M | ||
| Q2 25 | $27.0B | $533.7M | ||
| Q1 25 | $25.1B | $562.5M | ||
| Q4 24 | $21.0B | $725.8M | ||
| Q3 24 | $22.2B | $709.8M | ||
| Q2 24 | $26.3B | $697.0M | ||
| Q1 24 | $24.5B | $687.2M |
负债/权益比ABNBTH
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $5.7M |
| 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ABNBTH
| Q4 25 | $526.0M | $5.7M | ||
| Q3 25 | $1.4B | $53.4M | ||
| Q2 25 | $975.0M | $11.1M | ||
| Q1 25 | $1.8B | $3.9M | ||
| Q4 24 | $466.0M | $30.6M | ||
| Q3 24 | $1.1B | $31.4M | ||
| Q2 24 | $1.1B | $39.1M | ||
| Q1 24 | $1.9B | $50.6M |
自由现金流ABNBTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-11.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率ABNBTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度ABNBTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率ABNBTH
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | 2.44× | ||
| Q3 24 | 0.79× | 1.57× | ||
| Q2 24 | 1.89× | 2.13× | ||
| Q1 24 | 7.28× | 2.48× |
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% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
