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爱彼迎（ABNB）与WATSCO INC（WSO）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WATSCO INC的1.8倍（$2.8B vs $1.6B）。爱彼迎净利率更高（12.3% vs 4.5%，领先7.7%）。爱彼迎同比增速更快（12.0% vs -10.0%）。过去两年爱彼迎的营收复合增速更高（13.9% vs 0.4%）
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。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
ABNB vs WSO — 直观对比
营收规模更大
ABNB
是对方的1.8倍
$1.6B
营收增速更快
ABNB
高出22.0%
-10.0%
净利率更高
ABNB
高出7.7%
4.5%
两年增速更快
ABNB
近两年复合增速
0.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.6B |
| 净利润 | $341.0M | $71.7M |
| 毛利率 | 82.5% | 27.1% |
| 营业利润率 | 9.7% | 6.4% |
| 净利率 | 12.3% | 4.5% |
| 营收同比 | 12.0% | -10.0% |
| 净利润同比 | -26.0% | -25.9% |
| 每股收益（稀释后） | — | $1.82 |
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ABNBWSO
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $4.1B | $2.1B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.5B | $1.8B | ||
| Q3 24 | $3.7B | $2.2B | ||
| Q2 24 | $2.7B | $2.1B | ||
| Q1 24 | $2.1B | $1.6B |
净利润ABNBWSO
| Q4 25 | $341.0M | $71.7M | ||
| Q3 25 | $1.4B | $161.6M | ||
| Q2 25 | $642.0M | $183.6M | ||
| Q1 25 | $154.0M | $80.1M | ||
| Q4 24 | $461.0M | $96.8M | ||
| Q3 24 | $1.4B | $171.0M | ||
| Q2 24 | $555.0M | $181.4M | ||
| Q1 24 | $264.0M | $87.0M |
毛利率ABNBWSO
| Q4 25 | 82.5% | 27.1% | ||
| Q3 25 | 86.6% | 27.5% | ||
| Q2 25 | 82.4% | 29.3% | ||
| Q1 25 | 77.7% | 28.1% | ||
| Q4 24 | 82.8% | 26.7% | ||
| Q3 24 | 87.5% | 26.2% | ||
| Q2 24 | 81.6% | 27.1% | ||
| Q1 24 | 77.6% | 27.5% |
营业利润率ABNBWSO
| Q4 25 | 9.7% | 6.4% | ||
| Q3 25 | 39.7% | 11.4% | ||
| Q2 25 | 19.8% | 13.2% | ||
| Q1 25 | 1.7% | 7.3% | ||
| Q4 24 | 17.3% | 7.8% | ||
| Q3 24 | 40.9% | 11.6% | ||
| Q2 24 | 18.1% | 12.6% | ||
| Q1 24 | 4.7% | 8.1% |
净利率ABNBWSO
| Q4 25 | 12.3% | 4.5% | ||
| Q3 25 | 33.6% | 7.8% | ||
| Q2 25 | 20.7% | 8.9% | ||
| Q1 25 | 6.8% | 5.2% | ||
| Q4 24 | 18.6% | 5.5% | ||
| Q3 24 | 36.7% | 7.9% | ||
| Q2 24 | 20.2% | 8.5% | ||
| Q1 24 | 12.3% | 5.6% |
每股收益（稀释后）ABNBWSO
| Q4 25 | — | $1.82 | ||
| Q3 25 | — | $3.98 | ||
| Q2 25 | — | $4.52 | ||
| Q1 25 | — | $1.93 | ||
| Q4 24 | — | $2.42 | ||
| Q3 24 | — | $4.22 | ||
| Q2 24 | — | $4.49 | ||
| Q1 24 | — | $2.17 |
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 | $733.3M |
| 总债务越低越好 | — | $361.6M |
| 股东权益账面价值 | $8.2B | $2.8B |
| 总资产 | $22.2B | $4.4B |
| 负债/权益比越低杠杆越低 | — | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资ABNBWSO
| Q4 25 | $11.0B | $733.3M | ||
| Q3 25 | $11.7B | $524.3M | ||
| Q2 25 | $11.4B | $293.0M | ||
| Q1 25 | $11.5B | $431.8M | ||
| Q4 24 | $10.6B | $781.9M | ||
| Q3 24 | $11.3B | $550.0M | ||
| Q2 24 | $11.3B | $424.9M | ||
| Q1 24 | $11.1B | $478.9M |
总债务ABNBWSO
| Q4 25 | — | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | — | $307.1M | ||
| Q1 24 | — | $306.3M |
股东权益ABNBWSO
| Q4 25 | $8.2B | $2.8B | ||
| Q3 25 | $8.6B | $2.8B | ||
| Q2 25 | $7.8B | $2.8B | ||
| Q1 25 | $7.9B | $2.7B | ||
| Q4 24 | $8.4B | $2.7B | ||
| Q3 24 | $8.5B | $2.7B | ||
| Q2 24 | $8.0B | $2.6B | ||
| Q1 24 | $7.9B | $2.5B |
总资产ABNBWSO
| Q4 25 | $22.2B | $4.4B | ||
| Q3 25 | $23.1B | $4.6B | ||
| Q2 25 | $27.0B | $4.7B | ||
| Q1 25 | $25.1B | $4.5B | ||
| Q4 24 | $21.0B | $4.5B | ||
| Q3 24 | $22.2B | $4.5B | ||
| Q2 24 | $26.3B | $4.4B | ||
| Q1 24 | $24.5B | $4.4B |
负债/权益比ABNBWSO
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $399.8M |
| 自由现金流经营现金流 - 资本支出 | — | $388.5M |
| 自由现金流率自由现金流/营收 | — | 24.6% |
| 资本支出强度资本支出/营收 | — | 0.7% |
| 现金转化率经营现金流/净利润 | 1.54× | 5.57× |
| 过去12个月自由现金流最近4个季度 | — | $535.1M |
8季度趋势，按日历期对齐
经营现金流ABNBWSO
| Q4 25 | $526.0M | $399.8M | ||
| Q3 25 | $1.4B | $354.9M | ||
| Q2 25 | $975.0M | $-7.4M | ||
| Q1 25 | $1.8B | $-177.6M | ||
| Q4 24 | $466.0M | $378.9M | ||
| Q3 24 | $1.1B | $232.8M | ||
| Q2 24 | $1.1B | $57.7M | ||
| Q1 24 | $1.9B | $103.7M |
自由现金流ABNBWSO
| Q4 25 | — | $388.5M | ||
| Q3 25 | — | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | — | $223.0M | ||
| Q2 24 | — | $51.3M | ||
| Q1 24 | — | $97.9M |
自由现金流率ABNBWSO
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | — | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 6.3% |
资本支出强度ABNBWSO
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.4% |
现金转化率ABNBWSO
| Q4 25 | 1.54× | 5.57× | ||
| Q3 25 | 0.99× | 2.20× | ||
| Q2 25 | 1.52× | -0.04× | ||
| Q1 25 | 11.62× | -2.22× | ||
| Q4 24 | 1.01× | 3.91× | ||
| Q3 24 | 0.79× | 1.36× | ||
| Q2 24 | 1.89× | 0.32× | ||
| Q1 24 | 7.28× | 1.19× |
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% |
WSO
暂无分部数据
