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爱彼迎（ABNB）与威富集团（VFC）财务数据对比。点击上方公司名可切换其他公司
威富集团的季度营收约是爱彼迎的1.0倍（$2.9B vs $2.8B）。爱彼迎净利率更高（12.3% vs 10.5%，领先1.8%）。爱彼迎同比增速更快（12.0% vs 1.5%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 10.1%）
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。
威富集团前身为F.W.伍尔沃斯公司，是全球知名零售企业，也是五分一角平价商店业态的先驱之一。作为美国乃至全球最成功的平价零售企业之一，它曾引领行业发展潮流，构建了如今全球各地门店普遍遵循的现代零售模式。
ABNB vs VFC — 直观对比
营收规模更大
VFC
是对方的1.0倍
$2.8B
营收增速更快
ABNB
高出10.5%
1.5%
净利率更高
ABNB
高出1.8%
10.5%
两年增速更快
ABNB
近两年复合增速
10.1%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.9B |
| 净利润 | $341.0M | $300.8M |
| 毛利率 | 82.5% | 56.6% |
| 营业利润率 | 9.7% | 10.1% |
| 净利率 | 12.3% | 10.5% |
| 营收同比 | 12.0% | 1.5% |
| 净利润同比 | -26.0% | 79.3% |
| 每股收益（稀释后） | — | $0.76 |
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ABNBVFC
| Q4 25 | $2.8B | $2.9B | ||
| Q3 25 | $4.1B | $2.8B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.5B | $2.8B | ||
| Q3 24 | $3.7B | $2.8B | ||
| Q2 24 | $2.7B | $1.9B | ||
| Q1 24 | $2.1B | $2.4B |
净利润ABNBVFC
| Q4 25 | $341.0M | $300.8M | ||
| Q3 25 | $1.4B | $189.8M | ||
| Q2 25 | $642.0M | $-116.4M | ||
| Q1 25 | $154.0M | $-150.8M | ||
| Q4 24 | $461.0M | $167.8M | ||
| Q3 24 | $1.4B | $52.2M | ||
| Q2 24 | $555.0M | $-258.9M | ||
| Q1 24 | $264.0M | $-418.3M |
毛利率ABNBVFC
| Q4 25 | 82.5% | 56.6% | ||
| Q3 25 | 86.6% | 52.2% | ||
| Q2 25 | 82.4% | 53.9% | ||
| Q1 25 | 77.7% | 52.7% | ||
| Q4 24 | 82.8% | 56.3% | ||
| Q3 24 | 87.5% | 52.2% | ||
| Q2 24 | 81.6% | 52.0% | ||
| Q1 24 | 77.6% | 48.4% |
营业利润率ABNBVFC
| Q4 25 | 9.7% | 10.1% | ||
| Q3 25 | 39.7% | 11.2% | ||
| Q2 25 | 19.8% | -4.9% | ||
| Q1 25 | 1.7% | 2.2% | ||
| Q4 24 | 17.3% | 8.0% | ||
| Q3 24 | 40.9% | 9.9% | ||
| Q2 24 | 18.1% | -12.6% | ||
| Q1 24 | 4.7% | -15.0% |
净利率ABNBVFC
| Q4 25 | 12.3% | 10.5% | ||
| Q3 25 | 33.6% | 6.8% | ||
| Q2 25 | 20.7% | -6.6% | ||
| Q1 25 | 6.8% | -7.5% | ||
| Q4 24 | 18.6% | 5.9% | ||
| Q3 24 | 36.7% | 1.9% | ||
| Q2 24 | 20.2% | -13.6% | ||
| Q1 24 | 12.3% | -17.6% |
每股收益（稀释后）ABNBVFC
| Q4 25 | — | $0.76 | ||
| Q3 25 | — | $0.48 | ||
| Q2 25 | — | $-0.30 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | — | $0.43 | ||
| Q3 24 | — | $0.13 | ||
| Q2 24 | — | $-0.67 | ||
| Q1 24 | — | $-1.07 |
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 | $1.5B |
| 总债务越低越好 | — | $3.6B |
| 股东权益账面价值 | $8.2B | $1.8B |
| 总资产 | $22.2B | $10.4B |
| 负债/权益比越低杠杆越低 | — | 1.99× |
8季度趋势，按日历期对齐
现金及短期投资ABNBVFC
| Q4 25 | $11.0B | $1.5B | ||
| Q3 25 | $11.7B | $419.1M | ||
| Q2 25 | $11.4B | $642.4M | ||
| Q1 25 | $11.5B | $429.4M | ||
| Q4 24 | $10.6B | $1.4B | ||
| Q3 24 | $11.3B | $492.2M | ||
| Q2 24 | $11.3B | $637.4M | ||
| Q1 24 | $11.1B | $674.6M |
总债务ABNBVFC
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.4B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $4.7B |
股东权益ABNBVFC
| Q4 25 | $8.2B | $1.8B | ||
| Q3 25 | $8.6B | $1.5B | ||
| Q2 25 | $7.8B | $1.3B | ||
| Q1 25 | $7.9B | $1.5B | ||
| Q4 24 | $8.4B | $1.7B | ||
| Q3 24 | $8.5B | $1.4B | ||
| Q2 24 | $8.0B | $1.4B | ||
| Q1 24 | $7.9B | $1.7B |
总资产ABNBVFC
| Q4 25 | $22.2B | $10.4B | ||
| Q3 25 | $23.1B | $10.6B | ||
| Q2 25 | $27.0B | $10.2B | ||
| Q1 25 | $25.1B | $9.4B | ||
| Q4 24 | $21.0B | $10.6B | ||
| Q3 24 | $22.2B | $12.2B | ||
| Q2 24 | $26.3B | $11.5B | ||
| Q1 24 | $24.5B | $11.6B |
负债/权益比ABNBVFC
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 2.40× | ||
| Q2 25 | — | 2.76× | ||
| Q1 25 | — | 2.30× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | — | 2.84× | ||
| Q1 24 | — | 2.84× |
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 | $1.0B |
| 自由现金流经营现金流 - 资本支出 | — | $977.9M |
| 自由现金流率自由现金流/营收 | — | 34.0% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 1.54× | 3.36× |
| 过去12个月自由现金流最近4个季度 | — | $357.6M |
8季度趋势，按日历期对齐
经营现金流ABNBVFC
| Q4 25 | $526.0M | $1.0B | ||
| Q3 25 | $1.4B | $-227.0M | ||
| Q2 25 | $975.0M | $-145.5M | ||
| Q1 25 | $1.8B | $-171.1M | ||
| Q4 24 | $466.0M | $918.1M | ||
| Q3 24 | $1.1B | $-301.6M | ||
| Q2 24 | $1.1B | $19.8M | ||
| Q1 24 | $1.9B | — |
自由现金流ABNBVFC
| Q4 25 | — | $977.9M | ||
| Q3 25 | — | $-253.5M | ||
| Q2 25 | — | $-173.7M | ||
| Q1 25 | — | $-193.0M | ||
| Q4 24 | — | $899.7M | ||
| Q3 24 | — | $-322.4M | ||
| Q2 24 | — | $-5.4M | ||
| Q1 24 | — | — |
自由现金流率ABNBVFC
| Q4 25 | — | 34.0% | ||
| Q3 25 | — | -9.0% | ||
| Q2 25 | — | -9.9% | ||
| Q1 25 | — | -9.6% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | — | -11.7% | ||
| Q2 24 | — | -0.3% | ||
| Q1 24 | — | — |
资本支出强度ABNBVFC
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | — |
现金转化率ABNBVFC
| Q4 25 | 1.54× | 3.36× | ||
| Q3 25 | 0.99× | -1.20× | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | 5.47× | ||
| Q3 24 | 0.79× | -5.78× | ||
| 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% |
VFC
| Outdoor | $1.9B | 67% |
| Sales Channel Through Intermediary | $813.4M | 28% |
| Other | $136.3M | 5% |
