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爱彼迎（ABNB）与Wendy's Co（WEN）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Wendy's Co的5.1倍（$2.8B vs $543.0M）。爱彼迎净利率更高（12.3% vs 4.9%，领先7.4%）。爱彼迎同比增速更快（12.0% vs -5.5%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 0.8%）
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。
温蒂公司是美国知名快餐企业，是温蒂汉堡及First Kitchen的母公司，前身为Deisel-Wemmer公司，总部位于俄亥俄州都柏林。旗下核心子公司温蒂国际是温蒂汉堡餐厅的特许经营授权方，在全球快餐市场拥有较高的品牌辨识度。
ABNB vs WEN — 直观对比
营收规模更大
ABNB
是对方的5.1倍
$543.0M
营收增速更快
ABNB
高出17.5%
-5.5%
净利率更高
ABNB
高出7.4%
4.9%
两年增速更快
ABNB
近两年复合增速
0.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $543.0M |
| 净利润 | $341.0M | $26.5M |
| 毛利率 | 82.5% | 62.7% |
| 营业利润率 | 9.7% | 11.8% |
| 净利率 | 12.3% | 4.9% |
| 营收同比 | 12.0% | -5.5% |
| 净利润同比 | -26.0% | -44.2% |
| 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ABNBWEN
| Q4 25 | $2.8B | $543.0M | ||
| Q3 25 | $4.1B | $549.5M | ||
| Q2 25 | $3.1B | $560.9M | ||
| Q1 25 | $2.3B | $523.5M | ||
| Q4 24 | $2.5B | $574.3M | ||
| Q3 24 | $3.7B | $566.7M | ||
| Q2 24 | $2.7B | $570.7M | ||
| Q1 24 | $2.1B | $534.8M |
净利润ABNBWEN
| Q4 25 | $341.0M | $26.5M | ||
| Q3 25 | $1.4B | $44.3M | ||
| Q2 25 | $642.0M | $55.1M | ||
| Q1 25 | $154.0M | $39.2M | ||
| Q4 24 | $461.0M | $47.5M | ||
| Q3 24 | $1.4B | $50.2M | ||
| Q2 24 | $555.0M | $54.6M | ||
| Q1 24 | $264.0M | $42.0M |
毛利率ABNBWEN
| Q4 25 | 82.5% | 62.7% | ||
| Q3 25 | 86.6% | 62.8% | ||
| Q2 25 | 82.4% | 65.0% | ||
| Q1 25 | 77.7% | 64.1% | ||
| Q4 24 | 82.8% | 65.9% | ||
| Q3 24 | 87.5% | 65.5% | ||
| Q2 24 | 81.6% | 65.0% | ||
| Q1 24 | 77.6% | 64.1% |
营业利润率ABNBWEN
| Q4 25 | 9.7% | 11.8% | ||
| Q3 25 | 39.7% | 16.8% | ||
| Q2 25 | 19.8% | 18.6% | ||
| Q1 25 | 1.7% | 15.9% | ||
| Q4 24 | 17.3% | 16.7% | ||
| Q3 24 | 40.9% | 16.7% | ||
| Q2 24 | 18.1% | 17.4% | ||
| Q1 24 | 4.7% | 15.2% |
净利率ABNBWEN
| Q4 25 | 12.3% | 4.9% | ||
| Q3 25 | 33.6% | 8.1% | ||
| Q2 25 | 20.7% | 9.8% | ||
| Q1 25 | 6.8% | 7.5% | ||
| Q4 24 | 18.6% | 8.3% | ||
| Q3 24 | 36.7% | 8.9% | ||
| Q2 24 | 20.2% | 9.6% | ||
| Q1 24 | 12.3% | 7.9% |
每股收益（稀释后）ABNBWEN
| Q4 25 | — | $0.14 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.29 | ||
| Q1 25 | — | $0.19 | ||
| Q4 24 | — | $0.23 | ||
| Q3 24 | — | $0.25 | ||
| Q2 24 | — | $0.27 | ||
| 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 | $300.8M |
| 总债务越低越好 | — | $2.8B |
| 股东权益账面价值 | $8.2B | $117.4M |
| 总资产 | $22.2B | $5.0B |
| 负债/权益比越低杠杆越低 | — | 23.51× |
8季度趋势，按日历期对齐
现金及短期投资ABNBWEN
| Q4 25 | $11.0B | $300.8M | ||
| Q3 25 | $11.7B | $291.4M | ||
| Q2 25 | $11.4B | $281.2M | ||
| Q1 25 | $11.5B | $335.3M | ||
| Q4 24 | $10.6B | $450.5M | ||
| Q3 24 | $11.3B | $482.2M | ||
| Q2 24 | $11.3B | $465.5M | ||
| Q1 24 | $11.1B | $498.3M |
总债务ABNBWEN
| Q4 25 | — | $2.8B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ABNBWEN
| Q4 25 | $8.2B | $117.4M | ||
| Q3 25 | $8.6B | $109.2M | ||
| Q2 25 | $7.8B | $112.9M | ||
| Q1 25 | $7.9B | $130.2M | ||
| Q4 24 | $8.4B | $259.4M | ||
| Q3 24 | $8.5B | $259.9M | ||
| Q2 24 | $8.0B | $273.8M | ||
| Q1 24 | $7.9B | $293.7M |
总资产ABNBWEN
| Q4 25 | $22.2B | $5.0B | ||
| Q3 25 | $23.1B | $5.0B | ||
| Q2 25 | $27.0B | $4.9B | ||
| Q1 25 | $25.1B | $4.9B | ||
| Q4 24 | $21.0B | $5.0B | ||
| Q3 24 | $22.2B | $5.1B | ||
| Q2 24 | $26.3B | $5.1B | ||
| Q1 24 | $24.5B | $5.2B |
负债/权益比ABNBWEN
| Q4 25 | — | 23.51× | ||
| Q3 25 | — | 24.95× | ||
| Q2 25 | — | 24.18× | ||
| Q1 25 | — | 21.00× | ||
| Q4 24 | — | 10.57× | ||
| Q3 24 | — | — | ||
| 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 | $69.3M |
| 自由现金流经营现金流 - 资本支出 | — | $31.4M |
| 自由现金流率自由现金流/营收 | — | 5.8% |
| 资本支出强度资本支出/营收 | — | 7.0% |
| 现金转化率经营现金流/净利润 | 1.54× | 2.62× |
| 过去12个月自由现金流最近4个季度 | — | $242.6M |
8季度趋势，按日历期对齐
经营现金流ABNBWEN
| Q4 25 | $526.0M | $69.3M | ||
| Q3 25 | $1.4B | $129.3M | ||
| Q2 25 | $975.0M | $60.6M | ||
| Q1 25 | $1.8B | $85.4M | ||
| Q4 24 | $466.0M | $68.6M | ||
| Q3 24 | $1.1B | $141.2M | ||
| Q2 24 | $1.1B | $45.5M | ||
| Q1 24 | $1.9B | $100.0M |
自由现金流ABNBWEN
| Q4 25 | — | $31.4M | ||
| Q3 25 | — | $104.3M | ||
| Q2 25 | — | $39.2M | ||
| Q1 25 | — | $67.7M | ||
| Q4 24 | — | $26.6M | ||
| Q3 24 | — | $123.3M | ||
| Q2 24 | — | $28.4M | ||
| Q1 24 | — | $82.6M |
自由现金流率ABNBWEN
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 19.0% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 12.9% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | 5.0% | ||
| Q1 24 | — | 15.5% |
资本支出强度ABNBWEN
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 3.0% | ||
| Q1 24 | — | 3.2% |
现金转化率ABNBWEN
| Q4 25 | 1.54× | 2.62× | ||
| Q3 25 | 0.99× | 2.92× | ||
| Q2 25 | 1.52× | 1.10× | ||
| Q1 25 | 11.62× | 2.18× | ||
| Q4 24 | 1.01× | 1.44× | ||
| Q3 24 | 0.79× | 2.81× | ||
| Q2 24 | 1.89× | 0.83× | ||
| Q1 24 | 7.28× | 2.38× |
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% |
WEN
| Franchise Royalty Revenueand Fees | $149.3M | 27% |
| Royalty | $103.6M | 19% |
| Advertising | $103.3M | 19% |
| Global Real Estate Development | $60.5M | 11% |
| Real Estate | $59.5M | 11% |
| Wendys International | $39.5M | 7% |
| Franchise | $21.5M | 4% |
