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阿拉斯加航空集团（ALK）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是阿拉斯加航空集团的1.3倍（$4.5B vs $3.3B），皇家加勒比集团净利率更高（21.3% vs -5.8%，领先27.2%），皇家加勒比集团同比增速更快（11.3% vs 5.2%），过去两年阿拉斯加航空集团的营收复合增速更高（6.7% vs 4.1%）
阿拉斯加航空集团是总部位于美国华盛顿州西塔科的航空控股企业，旗下拥有阿拉斯加航空、夏威夷航空两家干线航司，以及区域航司地平线航空，阿拉斯加航空还全资控股飞机地面服务提供商麦吉航空服务。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
ALK vs RCL — 直观对比
营收规模更大
RCL
是对方的1.3倍
$3.3B
营收增速更快
RCL
高出6.1%
5.2%
净利率更高
RCL
高出27.2%
-5.8%
两年增速更快
ALK
近两年复合增速
4.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $4.5B |
| 净利润 | $-193.0M | $950.0M |
| 毛利率 | — | — |
| 营业利润率 | -8.5% | 26.1% |
| 净利率 | -5.8% | 21.3% |
| 营收同比 | 5.2% | 11.3% |
| 净利润同比 | — | 29.1% |
| 每股收益（稀释后） | $-1.69 | $3.48 |
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ALKRCL
| Q1 26 | $3.3B | $4.5B | ||
| Q4 25 | $3.6B | $4.3B | ||
| Q3 25 | $3.8B | $5.1B | ||
| Q2 25 | $3.7B | $4.5B | ||
| Q1 25 | $3.1B | $4.0B | ||
| Q4 24 | $3.5B | $3.8B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $2.9B | $4.1B |
净利润ALKRCL
| Q1 26 | $-193.0M | $950.0M | ||
| Q4 25 | $21.0M | $753.0M | ||
| Q3 25 | $73.0M | $1.6B | ||
| Q2 25 | $172.0M | $1.2B | ||
| Q1 25 | $-166.0M | $730.0M | ||
| Q4 24 | $71.0M | $552.0M | ||
| Q3 24 | $236.0M | $1.1B | ||
| Q2 24 | $220.0M | $854.0M |
毛利率ALKRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率ALKRCL
| Q1 26 | -8.5% | 26.1% | ||
| Q4 25 | 2.1% | 21.9% | ||
| Q3 25 | 3.9% | 33.1% | ||
| Q2 25 | 7.5% | 29.3% | ||
| Q1 25 | -6.3% | 23.6% | ||
| Q4 24 | 2.1% | 16.6% | ||
| Q3 24 | 11.1% | 33.4% | ||
| Q2 24 | 11.1% | 26.7% |
净利率ALKRCL
| Q1 26 | -5.8% | 21.3% | ||
| Q4 25 | 0.6% | 17.7% | ||
| Q3 25 | 1.9% | 30.6% | ||
| Q2 25 | 4.6% | 26.7% | ||
| Q1 25 | -5.3% | 18.3% | ||
| Q4 24 | 2.0% | 14.7% | ||
| Q3 24 | 7.7% | 22.7% | ||
| Q2 24 | 7.6% | 20.8% |
每股收益（稀释后）ALKRCL
| Q1 26 | $-1.69 | $3.48 | ||
| Q4 25 | $0.14 | $2.76 | ||
| Q3 25 | $0.62 | $5.74 | ||
| Q2 25 | $1.42 | $4.41 | ||
| Q1 25 | $-1.35 | $2.70 | ||
| Q4 24 | $0.58 | $2.27 | ||
| Q3 24 | $1.84 | $4.21 | ||
| Q2 24 | $1.71 | $3.11 |
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 | $451.0M | $512.0M |
| 总债务越低越好 | $5.3B | $21.1B |
| 股东权益账面价值 | $3.7B | $10.0B |
| 总资产 | $20.3B | $42.0B |
| 负债/权益比越低杠杆越低 | 1.43× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资ALKRCL
| Q1 26 | $451.0M | $512.0M | ||
| Q4 25 | $627.0M | $825.0M | ||
| Q3 25 | $2.3B | $432.0M | ||
| Q2 25 | $2.1B | $735.0M | ||
| Q1 25 | $2.5B | $386.0M | ||
| Q4 24 | $2.5B | $388.0M | ||
| Q3 24 | $2.5B | $418.0M | ||
| Q2 24 | $2.5B | $391.0M |
总债务ALKRCL
| Q1 26 | $5.3B | $21.1B | ||
| Q4 25 | $4.8B | $18.2B | ||
| Q3 25 | $5.0B | $17.2B | ||
| Q2 25 | $4.9B | $17.6B | ||
| Q1 25 | $4.8B | $18.0B | ||
| Q4 24 | $4.5B | $18.5B | ||
| Q3 24 | $4.6B | $19.0B | ||
| Q2 24 | $2.7B | $19.8B |
股东权益ALKRCL
| Q1 26 | $3.7B | $10.0B | ||
| Q4 25 | $4.1B | $10.0B | ||
| Q3 25 | $4.0B | $10.1B | ||
| Q2 25 | $3.9B | $9.2B | ||
| Q1 25 | $4.1B | $8.0B | ||
| Q4 24 | $4.4B | $7.6B | ||
| Q3 24 | $4.5B | $7.0B | ||
| Q2 24 | $4.2B | $6.0B |
总资产ALKRCL
| Q1 26 | $20.3B | $42.0B | ||
| Q4 25 | $20.4B | $41.6B | ||
| Q3 25 | $20.0B | $40.1B | ||
| Q2 25 | $19.9B | $38.5B | ||
| Q1 25 | $19.8B | $37.5B | ||
| Q4 24 | $19.8B | $37.1B | ||
| Q3 24 | $19.6B | $37.1B | ||
| Q2 24 | $15.3B | $37.0B |
负债/权益比ALKRCL
| Q1 26 | 1.43× | 2.11× | ||
| Q4 25 | 1.17× | 1.81× | ||
| Q3 25 | 1.24× | 1.70× | ||
| Q2 25 | 1.26× | 1.92× | ||
| Q1 25 | 1.16× | 2.26× | ||
| Q4 24 | 1.04× | 2.44× | ||
| Q3 24 | 1.03× | 2.69× | ||
| Q2 24 | 0.63× | 3.29× |
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 | $229.0M | $1.8B |
| 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 | 10.2% | — |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 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ALKRCL
| Q1 26 | $229.0M | $1.8B | ||
| Q4 25 | $185.0M | $1.6B | ||
| Q3 25 | $229.0M | $1.5B | ||
| Q2 25 | $376.0M | $1.7B | ||
| Q1 25 | $459.0M | $1.6B | ||
| Q4 24 | $274.0M | $1.5B | ||
| Q3 24 | $318.0M | $897.0M | ||
| Q2 24 | $580.0M | $1.6B |
自由现金流ALKRCL
| Q1 26 | — | — | ||
| Q4 25 | — | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M |
自由现金流率ALKRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% |
资本支出强度ALKRCL
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% |
现金转化率ALKRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 8.81× | 2.16× | ||
| Q3 25 | 3.14× | 0.93× | ||
| Q2 25 | 2.19× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | 3.86× | 2.66× | ||
| Q3 24 | 1.35× | 0.81× | ||
| Q2 24 | 2.64× | 1.84× |
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
ALK
| Passenger revenue | $2.9B | 88% |
| Loyalty program other revenue | $227.0M | 7% |
| Cargo and other revenue | $153.0M | 5% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
