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爱彼迎（ABNB）与UNITED NATURAL FOODS INC（UNFI）财务数据对比。点击上方公司名可切换其他公司
UNITED NATURAL FOODS INC的季度营收约是爱彼迎的2.8倍（$7.8B vs $2.8B）。爱彼迎净利率更高（12.3% vs -0.1%，领先12.3%）。爱彼迎同比增速更快（12.0% vs -0.4%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 2.3%）
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。
联合天然食品公司（UNFI）总部位于美国罗德岛州普罗维登斯，是北美知名的天然有机食品企业，也是美国和加拿大规模最大的上市健康及特色食品批发经销商，是全食超市的核心供应商，2018年来自全食的业务收入占其总营收的三分之一以上。
ABNB vs UNFI — 直观对比
营收规模更大
UNFI
是对方的2.8倍
$2.8B
营收增速更快
ABNB
高出12.4%
-0.4%
净利率更高
ABNB
高出12.3%
-0.1%
两年增速更快
ABNB
近两年复合增速
2.3%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $7.8B |
| 净利润 | $341.0M | $-4.0M |
| 毛利率 | 82.5% | 13.4% |
| 营业利润率 | 9.7% | 0.2% |
| 净利率 | 12.3% | -0.1% |
| 营收同比 | 12.0% | -0.4% |
| 净利润同比 | -26.0% | 81.0% |
| 每股收益（稀释后） | — | $-0.06 |
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ABNBUNFI
| Q4 25 | $2.8B | $7.8B | ||
| Q3 25 | $4.1B | $7.7B | ||
| Q2 25 | $3.1B | $8.1B | ||
| Q1 25 | $2.3B | $8.2B | ||
| Q4 24 | $2.5B | $7.9B | ||
| Q3 24 | $3.7B | $8.2B | ||
| Q2 24 | $2.7B | $7.5B | ||
| Q1 24 | $2.1B | — |
净利润ABNBUNFI
| Q4 25 | $341.0M | $-4.0M | ||
| Q3 25 | $1.4B | $-87.0M | ||
| Q2 25 | $642.0M | $-7.0M | ||
| Q1 25 | $154.0M | $-3.0M | ||
| Q4 24 | $461.0M | $-21.0M | ||
| Q3 24 | $1.4B | $-37.0M | ||
| Q2 24 | $555.0M | $-21.0M | ||
| Q1 24 | $264.0M | — |
毛利率ABNBUNFI
| Q4 25 | 82.5% | 13.4% | ||
| Q3 25 | 86.6% | 13.4% | ||
| Q2 25 | 82.4% | 13.4% | ||
| Q1 25 | 77.7% | 13.1% | ||
| Q4 24 | 82.8% | 13.2% | ||
| Q3 24 | 87.5% | 13.7% | ||
| Q2 24 | 81.6% | 13.6% | ||
| Q1 24 | 77.6% | — |
营业利润率ABNBUNFI
| Q4 25 | 9.7% | 0.2% | ||
| Q3 25 | 39.7% | -1.0% | ||
| Q2 25 | 19.8% | 0.2% | ||
| Q1 25 | 1.7% | 0.3% | ||
| Q4 24 | 17.3% | 0.1% | ||
| Q3 24 | 40.9% | 0.0% | ||
| Q2 24 | 18.1% | 0.1% | ||
| Q1 24 | 4.7% | — |
净利率ABNBUNFI
| Q4 25 | 12.3% | -0.1% | ||
| Q3 25 | 33.6% | -1.1% | ||
| Q2 25 | 20.7% | -0.1% | ||
| Q1 25 | 6.8% | -0.0% | ||
| Q4 24 | 18.6% | -0.3% | ||
| Q3 24 | 36.7% | -0.5% | ||
| Q2 24 | 20.2% | -0.3% | ||
| Q1 24 | 12.3% | — |
每股收益（稀释后）ABNBUNFI
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $-1.43 | ||
| Q2 25 | — | $-0.12 | ||
| Q1 25 | — | $-0.05 | ||
| Q4 24 | — | $-0.35 | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.34 | ||
| Q1 24 | — | — |
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 | $38.0M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $8.2B | $1.5B |
| 总资产 | $22.2B | $7.6B |
| 负债/权益比越低杠杆越低 | — | 1.24× |
8季度趋势，按日历期对齐
现金及短期投资ABNBUNFI
| Q4 25 | $11.0B | $38.0M | ||
| Q3 25 | $11.7B | $44.0M | ||
| Q2 25 | $11.4B | $52.0M | ||
| Q1 25 | $11.5B | $44.0M | ||
| Q4 24 | $10.6B | $37.0M | ||
| Q3 24 | $11.3B | $40.0M | ||
| Q2 24 | $11.3B | $39.0M | ||
| Q1 24 | $11.1B | — |
总债务ABNBUNFI
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | — |
股东权益ABNBUNFI
| Q4 25 | $8.2B | $1.5B | ||
| Q3 25 | $8.6B | $1.6B | ||
| Q2 25 | $7.8B | $1.6B | ||
| Q1 25 | $7.9B | $1.6B | ||
| Q4 24 | $8.4B | $1.6B | ||
| Q3 24 | $8.5B | $1.6B | ||
| Q2 24 | $8.0B | $1.7B | ||
| Q1 24 | $7.9B | — |
总资产ABNBUNFI
| Q4 25 | $22.2B | $7.6B | ||
| Q3 25 | $23.1B | $7.6B | ||
| Q2 25 | $27.0B | $7.6B | ||
| Q1 25 | $25.1B | $7.7B | ||
| Q4 24 | $21.0B | $8.0B | ||
| Q3 24 | $22.2B | $7.5B | ||
| Q2 24 | $26.3B | $7.6B | ||
| Q1 24 | $24.5B | — |
负债/权益比ABNBUNFI
| Q4 25 | — | 1.24× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 1.21× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 1.38× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 1.28× | ||
| 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 | $-38.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-54.0M |
| 自由现金流率自由现金流/营收 | — | -0.7% |
| 资本支出强度资本支出/营收 | — | 0.2% |
| 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 | — | $344.0M |
8季度趋势，按日历期对齐
经营现金流ABNBUNFI
| Q4 25 | $526.0M | $-38.0M | ||
| Q3 25 | $1.4B | $160.0M | ||
| Q2 25 | $975.0M | $173.0M | ||
| Q1 25 | $1.8B | $247.0M | ||
| Q4 24 | $466.0M | $-110.0M | ||
| Q3 24 | $1.1B | $199.0M | ||
| Q2 24 | $1.1B | $125.0M | ||
| Q1 24 | $1.9B | — |
自由现金流ABNBUNFI
| Q4 25 | — | $-54.0M | ||
| Q3 25 | — | $86.0M | ||
| Q2 25 | — | $119.0M | ||
| Q1 25 | — | $193.0M | ||
| Q4 24 | — | $-159.0M | ||
| Q3 24 | — | $71.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | — |
自由现金流率ABNBUNFI
| Q4 25 | — | -0.7% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | -2.0% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | — |
资本支出强度ABNBUNFI
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | — |
现金转化率ABNBUNFI
| Q4 25 | 1.54× | — | ||
| 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% |
UNFI
| Natural Segment | $4.3B | 55% |
| Conventional Segment | $3.1B | 40% |
| Retail Segment | $560.0M | 7% |
