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爱彼迎（ABNB）与XPO, Inc.（XPO）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XPO, Inc.的1.4倍（$2.8B vs $2.0B），爱彼迎净利率更高（12.3% vs 2.9%，领先9.3%），爱彼迎同比增速更快（12.0% vs 4.7%），过去两年爱彼迎的营收复合增速更高（13.9% vs -0.1%）
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。
XPO Inc.（原XPO物流）是美国交通运输企业，主营北美区域零担货运业务，总部位于康涅狄格州格林尼治，全球共设592个运营网点。作为北美第二大零担货运服务商，其服务覆盖99%的美国邮政编码区域。
ABNB vs XPO — 直观对比
营收规模更大
ABNB
是对方的1.4倍
$2.0B
营收增速更快
ABNB
高出7.3%
4.7%
净利率更高
ABNB
高出9.3%
2.9%
两年增速更快
ABNB
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $2.0B |
| 净利润 | $341.0M | $59.0M |
| 毛利率 | 82.5% | — |
| 营业利润率 | 9.7% | 7.1% |
| 净利率 | 12.3% | 2.9% |
| 营收同比 | 12.0% | 4.7% |
| 净利润同比 | -26.0% | -21.3% |
| 每股收益（稀释后） | — | $0.49 |
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ABNBXPO
| Q4 25 | $2.8B | $2.0B | ||
| Q3 25 | $4.1B | $2.1B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $2.3B | $2.0B | ||
| Q4 24 | $2.5B | $1.9B | ||
| Q3 24 | $3.7B | $2.1B | ||
| Q2 24 | $2.7B | $2.1B | ||
| Q1 24 | $2.1B | $2.0B |
净利润ABNBXPO
| Q4 25 | $341.0M | $59.0M | ||
| Q3 25 | $1.4B | $82.0M | ||
| Q2 25 | $642.0M | $106.0M | ||
| Q1 25 | $154.0M | $69.0M | ||
| Q4 24 | $461.0M | $75.0M | ||
| Q3 24 | $1.4B | $95.0M | ||
| Q2 24 | $555.0M | $150.0M | ||
| Q1 24 | $264.0M | $67.0M |
毛利率ABNBXPO
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | — | ||
| Q2 25 | 82.4% | — | ||
| Q1 25 | 77.7% | — | ||
| Q4 24 | 82.8% | — | ||
| Q3 24 | 87.5% | — | ||
| Q2 24 | 81.6% | — | ||
| Q1 24 | 77.6% | — |
营业利润率ABNBXPO
| Q4 25 | 9.7% | 7.1% | ||
| Q3 25 | 39.7% | 7.8% | ||
| Q2 25 | 19.8% | 9.5% | ||
| Q1 25 | 1.7% | 7.7% | ||
| Q4 24 | 17.3% | 7.8% | ||
| Q3 24 | 40.9% | 8.6% | ||
| Q2 24 | 18.1% | 9.5% | ||
| Q1 24 | 4.7% | 6.8% |
净利率ABNBXPO
| Q4 25 | 12.3% | 2.9% | ||
| Q3 25 | 33.6% | 3.9% | ||
| Q2 25 | 20.7% | 5.1% | ||
| Q1 25 | 6.8% | 3.5% | ||
| Q4 24 | 18.6% | 3.9% | ||
| Q3 24 | 36.7% | 4.6% | ||
| Q2 24 | 20.2% | 7.2% | ||
| Q1 24 | 12.3% | 3.3% |
每股收益（稀释后）ABNBXPO
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.68 | ||
| Q2 25 | — | $0.89 | ||
| Q1 25 | — | $0.58 | ||
| Q4 24 | — | $0.63 | ||
| Q3 24 | — | $0.79 | ||
| Q2 24 | — | $1.25 | ||
| Q1 24 | — | $0.56 |
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 | $310.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.2B | $1.9B |
| 总资产 | $22.2B | $8.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ABNBXPO
| Q4 25 | $11.0B | $310.0M | ||
| Q3 25 | $11.7B | $335.0M | ||
| Q2 25 | $11.4B | $225.0M | ||
| Q1 25 | $11.5B | $212.0M | ||
| Q4 24 | $10.6B | $246.0M | ||
| Q3 24 | $11.3B | $378.0M | ||
| Q2 24 | $11.3B | $250.0M | ||
| Q1 24 | $11.1B | $229.0M |
股东权益ABNBXPO
| Q4 25 | $8.2B | $1.9B | ||
| Q3 25 | $8.6B | $1.8B | ||
| Q2 25 | $7.8B | $1.8B | ||
| Q1 25 | $7.9B | $1.6B | ||
| Q4 24 | $8.4B | $1.6B | ||
| Q3 24 | $8.5B | $1.6B | ||
| Q2 24 | $8.0B | $1.5B | ||
| Q1 24 | $7.9B | $1.3B |
总资产ABNBXPO
| Q4 25 | $22.2B | $8.2B | ||
| Q3 25 | $23.1B | $8.2B | ||
| Q2 25 | $27.0B | $8.1B | ||
| Q1 25 | $25.1B | $7.9B | ||
| Q4 24 | $21.0B | $7.7B | ||
| Q3 24 | $22.2B | $7.9B | ||
| Q2 24 | $26.3B | $7.7B | ||
| Q1 24 | $24.5B | $7.6B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流ABNBXPO
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | $371.0M | ||
| Q2 25 | $975.0M | $247.0M | ||
| Q1 25 | $1.8B | $142.0M | ||
| Q4 24 | $466.0M | $189.0M | ||
| Q3 24 | $1.1B | $264.0M | ||
| Q2 24 | $1.1B | $210.0M | ||
| Q1 24 | $1.9B | $145.0M |
自由现金流ABNBXPO
| Q4 25 | — | — | ||
| Q3 25 | — | $215.0M | ||
| Q2 25 | — | $51.0M | ||
| Q1 25 | — | $-57.0M | ||
| Q4 24 | — | $23.0M | ||
| Q3 24 | — | $137.0M | ||
| Q2 24 | — | $20.0M | ||
| Q1 24 | — | $-161.0M |
自由现金流率ABNBXPO
| Q4 25 | — | — | ||
| Q3 25 | — | 10.2% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | -2.9% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | -8.0% |
资本支出强度ABNBXPO
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | — | 9.4% | ||
| Q1 25 | — | 10.2% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 9.1% | ||
| Q1 24 | — | 15.2% |
现金转化率ABNBXPO
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | 4.52× | ||
| Q2 25 | 1.52× | 2.33× | ||
| Q1 25 | 11.62× | 2.06× | ||
| Q4 24 | 1.01× | 2.52× | ||
| Q3 24 | 0.79× | 2.78× | ||
| Q2 24 | 1.89× | 1.40× | ||
| Q1 24 | 7.28× | 2.16× |
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% |
XPO
| North American LTL | $1.2B | 58% |
| European Transportation | $844.0M | 42% |
