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爱彼迎（ABNB）与惠好（WY）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惠好的1.8倍（$2.8B vs $1.5B），爱彼迎净利率更高（12.3% vs 4.8%，领先7.5%），爱彼迎同比增速更快（12.0% vs -9.8%），过去两年爱彼迎的营收复合增速更高（13.9% vs -7.4%）
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。
惠好是美国知名林地运营企业，在美国本土持有约1040万英亩林地，同时通过长期许可协议在加拿大管理额外1400万英亩林地。企业拥有逾百年木制品生产历史，目前以房地产投资信托（REIT）模式运营。
ABNB vs WY — 直观对比
营收规模更大
ABNB
是对方的1.8倍
$1.5B
营收增速更快
ABNB
高出21.8%
-9.8%
净利率更高
ABNB
高出7.5%
4.8%
两年增速更快
ABNB
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $1.5B |
| 净利润 | $341.0M | $74.0M |
| 毛利率 | 82.5% | 10.4% |
| 营业利润率 | 9.7% | 16.3% |
| 净利率 | 12.3% | 4.8% |
| 营收同比 | 12.0% | -9.8% |
| 净利润同比 | -26.0% | -8.6% |
| 每股收益（稀释后） | — | $0.11 |
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ABNBWY
| Q4 25 | $2.8B | $1.5B | ||
| Q3 25 | $4.1B | $1.7B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $2.3B | $1.8B | ||
| Q4 24 | $2.5B | $1.7B | ||
| Q3 24 | $3.7B | $1.7B | ||
| Q2 24 | $2.7B | $1.9B | ||
| Q1 24 | $2.1B | $1.8B |
净利润ABNBWY
| Q4 25 | $341.0M | $74.0M | ||
| Q3 25 | $1.4B | $80.0M | ||
| Q2 25 | $642.0M | $87.0M | ||
| Q1 25 | $154.0M | $83.0M | ||
| Q4 24 | $461.0M | $81.0M | ||
| Q3 24 | $1.4B | $28.0M | ||
| Q2 24 | $555.0M | $173.0M | ||
| Q1 24 | $264.0M | $114.0M |
毛利率ABNBWY
| Q4 25 | 82.5% | 10.4% | ||
| Q3 25 | 86.6% | 11.9% | ||
| Q2 25 | 82.4% | 17.3% | ||
| Q1 25 | 77.7% | 19.0% | ||
| Q4 24 | 82.8% | 17.8% | ||
| Q3 24 | 87.5% | 14.9% | ||
| Q2 24 | 81.6% | 20.8% | ||
| Q1 24 | 77.6% | 19.8% |
营业利润率ABNBWY
| Q4 25 | 9.7% | 16.3% | ||
| Q3 25 | 39.7% | 7.2% | ||
| Q2 25 | 19.8% | 9.4% | ||
| Q1 25 | 1.7% | 10.2% | ||
| Q4 24 | 17.3% | 8.3% | ||
| Q3 24 | 40.9% | 4.6% | ||
| Q2 24 | 18.1% | 13.9% | ||
| Q1 24 | 4.7% | 10.9% |
净利率ABNBWY
| Q4 25 | 12.3% | 4.8% | ||
| Q3 25 | 33.6% | 4.7% | ||
| Q2 25 | 20.7% | 4.6% | ||
| Q1 25 | 6.8% | 4.7% | ||
| Q4 24 | 18.6% | 4.7% | ||
| Q3 24 | 36.7% | 1.7% | ||
| Q2 24 | 20.2% | 8.9% | ||
| Q1 24 | 12.3% | 6.3% |
每股收益（稀释后）ABNBWY
| Q4 25 | — | $0.11 | ||
| Q3 25 | — | $0.11 | ||
| Q2 25 | — | $0.12 | ||
| Q1 25 | — | $0.11 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | — | $0.04 | ||
| Q2 24 | — | $0.24 | ||
| Q1 24 | — | $0.16 |
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 | $464.0M |
| 总债务越低越好 | — | $5.6B |
| 股东权益账面价值 | $8.2B | $9.4B |
| 总资产 | $22.2B | $16.6B |
| 负债/权益比越低杠杆越低 | — | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资ABNBWY
| Q4 25 | $11.0B | $464.0M | ||
| Q3 25 | $11.7B | $401.0M | ||
| Q2 25 | $11.4B | $592.0M | ||
| Q1 25 | $11.5B | $560.0M | ||
| Q4 24 | $10.6B | $684.0M | ||
| Q3 24 | $11.3B | $877.0M | ||
| Q2 24 | $11.3B | $997.0M | ||
| Q1 24 | $11.1B | $871.0M |
总债务ABNBWY
| Q4 25 | — | $5.6B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ABNBWY
| Q4 25 | $8.2B | $9.4B | ||
| Q3 25 | $8.6B | $9.4B | ||
| Q2 25 | $7.8B | $9.5B | ||
| Q1 25 | $7.9B | $9.6B | ||
| Q4 24 | $8.4B | $9.7B | ||
| Q3 24 | $8.5B | $9.9B | ||
| Q2 24 | $8.0B | $10.0B | ||
| Q1 24 | $7.9B | $10.1B |
总资产ABNBWY
| Q4 25 | $22.2B | $16.6B | ||
| Q3 25 | $23.1B | $16.7B | ||
| Q2 25 | $27.0B | $16.5B | ||
| Q1 25 | $25.1B | $16.5B | ||
| Q4 24 | $21.0B | $16.5B | ||
| Q3 24 | $22.2B | $16.7B | ||
| Q2 24 | $26.3B | $16.8B | ||
| Q1 24 | $24.5B | $16.8B |
负债/权益比ABNBWY
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.52× | ||
| 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 | $-114.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-128.0M |
| 自由现金流率自由现金流/营收 | — | -8.3% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 1.54× | -1.54× |
| 过去12个月自由现金流最近4个季度 | — | $511.0M |
8季度趋势，按日历期对齐
经营现金流ABNBWY
| Q4 25 | $526.0M | $-114.0M | ||
| Q3 25 | $1.4B | $210.0M | ||
| Q2 25 | $975.0M | $396.0M | ||
| Q1 25 | $1.8B | $70.0M | ||
| Q4 24 | $466.0M | $218.0M | ||
| Q3 24 | $1.1B | $234.0M | ||
| Q2 24 | $1.1B | $432.0M | ||
| Q1 24 | $1.9B | $124.0M |
自由现金流ABNBWY
| Q4 25 | — | $-128.0M | ||
| Q3 25 | — | $203.0M | ||
| Q2 25 | — | $388.0M | ||
| Q1 25 | — | $48.0M | ||
| Q4 24 | — | $205.0M | ||
| Q3 24 | — | $226.0M | ||
| Q2 24 | — | $423.0M | ||
| Q1 24 | — | $102.0M |
自由现金流率ABNBWY
| Q4 25 | — | -8.3% | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 20.6% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 13.4% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 5.7% |
资本支出强度ABNBWY
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 1.2% |
现金转化率ABNBWY
| Q4 25 | 1.54× | -1.54× | ||
| Q3 25 | 0.99× | 2.63× | ||
| Q2 25 | 1.52× | 4.55× | ||
| Q1 25 | 11.62× | 0.84× | ||
| Q4 24 | 1.01× | 2.69× | ||
| Q3 24 | 0.79× | 8.36× | ||
| Q2 24 | 1.89× | 2.50× | ||
| Q1 24 | 7.28× | 1.09× |
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% |
WY
暂无分部数据
