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ADT Inc.（ADT）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
ADT Inc.的季度营收约是Ryman Hospitality Properties, Inc.的1.7倍（$1.3B vs $737.8M），ADT Inc.净利率更高（11.4% vs 10.1%，领先1.3%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 2.9%），ADT Inc.自由现金流更多（$323.5M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 2.7%）
ADT Inc.是美国头部安防企业，总部位于佛罗里达州博卡拉顿，业务覆盖美国与加拿大，为住宅、小型商户提供电子安防、消防防护及相关报警监控服务。公司2016年被阿波罗全球管理以69亿美元杠杆收购，2018年1月于纽约证券交易所上市。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
ADT vs RHP — 直观对比
营收规模更大
ADT
是对方的1.7倍
$737.8M
营收增速更快
RHP
高出11.1%
2.9%
净利率更高
ADT
高出1.3%
10.1%
自由现金流更多
ADT
多$265.0M
$58.5M
两年增速更快
RHP
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $737.8M |
| 净利润 | $145.4M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 26.1% | 19.4% |
| 净利率 | 11.4% | 10.1% |
| 营收同比 | 2.9% | 13.9% |
| 净利润同比 | -23.5% | 3.0% |
| 每股收益（稀释后） | — | $1.12 |
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ADTRHP
| Q4 25 | $1.3B | $737.8M | ||
| Q3 25 | $1.3B | $592.5M | ||
| Q2 25 | $1.3B | $659.5M | ||
| Q1 25 | $1.3B | $587.3M | ||
| Q4 24 | $1.2B | $647.6M | ||
| Q3 24 | $1.2B | $550.0M | ||
| Q2 24 | $1.2B | $613.3M | ||
| Q1 24 | $1.2B | $528.3M |
净利润ADTRHP
| Q4 25 | $145.4M | $74.5M | ||
| Q3 25 | $145.1M | $34.9M | ||
| Q2 25 | $165.2M | $71.8M | ||
| Q1 25 | $140.2M | $63.0M | ||
| Q4 24 | $190.0M | $72.3M | ||
| Q3 24 | $127.2M | $59.0M | ||
| Q2 24 | $92.4M | $100.8M | ||
| Q1 24 | $91.6M | $42.8M |
毛利率ADTRHP
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 41.5% |
营业利润率ADTRHP
| Q4 25 | 26.1% | 19.4% | ||
| Q3 25 | 24.3% | 15.0% | ||
| Q2 25 | 26.6% | 21.1% | ||
| Q1 25 | 25.2% | 19.8% | ||
| Q4 24 | 32.4% | 18.6% | ||
| Q3 24 | 26.2% | 19.3% | ||
| Q2 24 | 23.6% | 27.4% | ||
| Q1 24 | 16.2% | 18.2% |
净利率ADTRHP
| Q4 25 | 11.4% | 10.1% | ||
| Q3 25 | 11.2% | 5.9% | ||
| Q2 25 | 12.8% | 10.9% | ||
| Q1 25 | 11.1% | 10.7% | ||
| Q4 24 | 15.3% | 11.2% | ||
| Q3 24 | 10.2% | 10.7% | ||
| Q2 24 | 7.7% | 16.4% | ||
| Q1 24 | 7.6% | 8.1% |
每股收益（稀释后）ADTRHP
| Q4 25 | — | $1.12 | ||
| Q3 25 | — | $0.53 | ||
| Q2 25 | — | $1.12 | ||
| Q1 25 | — | $1.00 | ||
| Q4 24 | — | $1.12 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | $1.65 | ||
| Q1 24 | — | $0.67 |
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 | $80.8M | $471.4M |
| 总债务越低越好 | $7.4B | — |
| 股东权益账面价值 | $3.8B | $750.2M |
| 总资产 | $15.8B | $6.2B |
| 负债/权益比越低杠杆越低 | 1.95× | — |
8季度趋势，按日历期对齐
现金及短期投资ADTRHP
| Q4 25 | $80.8M | $471.4M | ||
| Q3 25 | $62.8M | $483.3M | ||
| Q2 25 | $45.2M | $420.6M | ||
| Q1 25 | $3.7M | $413.9M | ||
| Q4 24 | $96.2M | $477.7M | ||
| Q3 24 | $95.3M | $534.9M | ||
| Q2 24 | $37.9M | $498.4M | ||
| Q1 24 | $4.0M | $465.3M |
总债务ADTRHP
| Q4 25 | $7.4B | — | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.5B | — | ||
| Q3 24 | $7.5B | — | ||
| Q2 24 | $7.5B | — | ||
| Q1 24 | $7.6B | — |
股东权益ADTRHP
| Q4 25 | $3.8B | $750.2M | ||
| Q3 25 | $3.7B | $758.5M | ||
| Q2 25 | $3.7B | $800.4M | ||
| Q1 25 | $3.6B | $531.5M | ||
| Q4 24 | $3.8B | $549.0M | ||
| Q3 24 | $3.9B | $551.9M | ||
| Q2 24 | $3.8B | $562.6M | ||
| Q1 24 | $3.7B | $529.9M |
总资产ADTRHP
| Q4 25 | $15.8B | $6.2B | ||
| Q3 25 | $16.0B | $6.2B | ||
| Q2 25 | $16.0B | $6.1B | ||
| Q1 25 | $15.8B | $5.2B | ||
| Q4 24 | $16.1B | $5.2B | ||
| Q3 24 | $16.1B | $5.2B | ||
| Q2 24 | $16.0B | $5.1B | ||
| Q1 24 | $15.9B | $5.1B |
负债/权益比ADTRHP
| Q4 25 | 1.95× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | — | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.03× | — |
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 | $373.6M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $58.5M |
| 自由现金流率自由现金流/营收 | 25.4% | 7.9% |
| 资本支出强度资本支出/营收 | 3.9% | 14.4% |
| 现金转化率经营现金流/净利润 | 2.57× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $232.4M |
8季度趋势，按日历期对齐
经营现金流ADTRHP
| Q4 25 | $373.6M | $164.7M | ||
| Q3 25 | $480.1M | $205.2M | ||
| Q2 25 | $563.9M | $122.5M | ||
| Q1 25 | $466.6M | $98.2M | ||
| Q4 24 | $459.7M | $166.6M | ||
| Q3 24 | $498.2M | $218.1M | ||
| Q2 24 | $563.2M | $184.3M | ||
| Q1 24 | $363.8M | $7.5M |
自由现金流ADTRHP
| Q4 25 | $323.5M | $58.5M | ||
| Q3 25 | $437.4M | $135.4M | ||
| Q2 25 | $526.3M | $53.0M | ||
| Q1 25 | $421.2M | $-14.5M | ||
| Q4 24 | $426.0M | $76.0M | ||
| Q3 24 | $455.5M | $85.7M | ||
| Q2 24 | $516.5M | $78.8M | ||
| Q1 24 | $323.1M | $-72.0M |
自由现金流率ADTRHP
| Q4 25 | 25.4% | 7.9% | ||
| Q3 25 | 33.7% | 22.9% | ||
| Q2 25 | 40.9% | 8.0% | ||
| Q1 25 | 33.2% | -2.5% | ||
| Q4 24 | 34.3% | 11.7% | ||
| Q3 24 | 36.6% | 15.6% | ||
| Q2 24 | 42.9% | 12.9% | ||
| Q1 24 | 26.7% | -13.6% |
资本支出强度ADTRHP
| Q4 25 | 3.9% | 14.4% | ||
| Q3 25 | 3.3% | 11.8% | ||
| Q2 25 | 2.9% | 10.5% | ||
| Q1 25 | 3.6% | 19.2% | ||
| Q4 24 | 2.7% | 14.0% | ||
| Q3 24 | 3.4% | 24.1% | ||
| Q2 24 | 3.9% | 17.2% | ||
| Q1 24 | 3.4% | 15.0% |
现金转化率ADTRHP
| Q4 25 | 2.57× | 2.21× | ||
| Q3 25 | 3.31× | 5.88× | ||
| Q2 25 | 3.41× | 1.71× | ||
| Q1 25 | 3.33× | 1.56× | ||
| Q4 24 | 2.42× | 2.30× | ||
| Q3 24 | 3.92× | 3.70× | ||
| Q2 24 | 6.10× | 1.83× | ||
| Q1 24 | 3.97× | 0.17× |
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
ADT
| Recurring Monthly Revenue | $1.0B | 82% |
| Installation Revenue | $103.0M | 8% |
| Other | $89.9M | 7% |
| Other Related Services | $36.0M | 3% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
