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爱彼迎（ABNB）与震坤行集团（ZKH）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震坤行集团的61.5倍（$2.8B vs $45.1M）。爱彼迎净利率更高（12.3% vs -1.0%，领先13.3%）
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。
震坤行集团是中国领先的工业供应链服务提供商，主营MRO工业耗材、零部件销售及数字化采购解决方案，服务覆盖制造、建筑、能源等核心领域，为企业客户提供全链路库存管理、采购成本优化服务，业务主要辐射亚太市场。
ABNB vs ZKH — 直观对比
营收规模更大
ABNB
是对方的61.5倍
$45.1M
净利率更高
ABNB
高出13.3%
-1.0%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $2.8B | $45.1M |
| 净利润 | $341.0M | $-471.3K |
| 毛利率 | 82.5% | 16.8% |
| 营业利润率 | 9.7% | -1.4% |
| 净利率 | 12.3% | -1.0% |
| 营收同比 | 12.0% | — |
| 净利润同比 | -26.0% | — |
| 每股收益（稀释后） | — | — |
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ABNBZKH
| Q4 25 | $2.8B | — | ||
| Q3 25 | $4.1B | $45.1M | ||
| Q2 25 | $3.1B | $41.7M | ||
| Q1 25 | $2.3B | $36.8M | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $3.7B | $44.8M | ||
| Q2 24 | $2.7B | $42.7M | ||
| Q1 24 | $2.1B | $35.6M |
净利润ABNBZKH
| Q4 25 | $341.0M | — | ||
| Q3 25 | $1.4B | $-471.3K | ||
| Q2 25 | $642.0M | $-1.0M | ||
| Q1 25 | $154.0M | $-1.3M | ||
| Q4 24 | $461.0M | — | ||
| Q3 24 | $1.4B | $-1.6M | ||
| Q2 24 | $555.0M | $-1.3M | ||
| Q1 24 | $264.0M | $-1.7M |
毛利率ABNBZKH
| Q4 25 | 82.5% | — | ||
| Q3 25 | 86.6% | 16.8% | ||
| Q2 25 | 82.4% | 16.5% | ||
| Q1 25 | 77.7% | 17.2% | ||
| Q4 24 | 82.8% | — | ||
| Q3 24 | 87.5% | 17.0% | ||
| Q2 24 | 81.6% | 17.0% | ||
| Q1 24 | 77.6% | 18.0% |
营业利润率ABNBZKH
| Q4 25 | 9.7% | — | ||
| Q3 25 | 39.7% | -1.4% | ||
| Q2 25 | 19.8% | -3.3% | ||
| Q1 25 | 1.7% | -4.2% | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | 40.9% | -4.6% | ||
| Q2 24 | 18.1% | -3.2% | ||
| Q1 24 | 4.7% | -7.0% |
净利率ABNBZKH
| Q4 25 | 12.3% | — | ||
| Q3 25 | 33.6% | -1.0% | ||
| Q2 25 | 20.7% | -2.5% | ||
| Q1 25 | 6.8% | -3.4% | ||
| Q4 24 | 18.6% | — | ||
| Q3 24 | 36.7% | -3.6% | ||
| Q2 24 | 20.2% | -2.9% | ||
| Q1 24 | 12.3% | -4.9% |
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 | $35.3M |
| 总债务越低越好 | — | $893.8K |
| 股东权益账面价值 | $8.2B | — |
| 总资产 | $22.2B | $123.8M |
| 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ABNBZKH
| Q4 25 | $11.0B | — | ||
| Q3 25 | $11.7B | $35.3M | ||
| Q2 25 | $11.4B | $33.8M | ||
| Q1 25 | $11.5B | $32.0M | ||
| Q4 24 | $10.6B | — | ||
| Q3 24 | $11.3B | $39.0M | ||
| Q2 24 | $11.3B | $35.9M | ||
| Q1 24 | $11.1B | $36.0M |
总债务ABNBZKH
| Q4 25 | — | — | ||
| Q3 25 | — | $893.8K | ||
| Q2 25 | — | $888.3K | ||
| Q1 25 | — | $854.9K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ABNBZKH
| Q4 25 | $8.2B | — | ||
| Q3 25 | $8.6B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $7.9B | — | ||
| Q4 24 | $8.4B | — | ||
| Q3 24 | $8.5B | $60.6M | ||
| Q2 24 | $8.0B | $60.7M | ||
| Q1 24 | $7.9B | $61.5M |
总资产ABNBZKH
| Q4 25 | $22.2B | — | ||
| Q3 25 | $23.1B | $123.8M | ||
| Q2 25 | $27.0B | $120.6M | ||
| Q1 25 | $25.1B | $116.4M | ||
| Q4 24 | $21.0B | — | ||
| Q3 24 | $22.2B | $132.6M | ||
| Q2 24 | $26.3B | $132.9M | ||
| Q1 24 | $24.5B | $132.5M |
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 | — | — |
| 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ABNBZKH
| Q4 25 | $526.0M | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $975.0M | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $466.0M | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.9B | — |
现金转化率ABNBZKH
| Q4 25 | 1.54× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 11.62× | — | ||
| Q4 24 | 1.01× | — | ||
| Q3 24 | 0.79× | — | ||
| 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% |
ZKH
暂无分部数据
