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美国铁塔（AMT）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美国铁塔的1.6倍（$4.3B vs $2.7B），美国铁塔净利率更高（110.1% vs 17.9%，领先92.2%），过去两年美国铁塔的营收复合增速更高（3.7% vs 1.8%）
美国铁塔是全球规模最大的房地产投资信托基金（REIT）之一，作为领先的独立多租户通信地产持有、运营及开发商，目前在全球范围内拥有约21.9万个通信站点，为全球通信产业提供可靠的基础设施支持。
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。
AMT vs RCL — 直观对比
营收规模更大
RCL
是对方的1.6倍
$2.7B
净利率更高
AMT
高出92.2%
17.9%
两年增速更快
AMT
近两年复合增速
1.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $4.3B |
| 净利润 | $3.0B | $762.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.0% | 21.9% |
| 净利率 | 110.1% | 17.9% |
| 营收同比 | — | 13.2% |
| 净利润同比 | — | 36.3% |
| 每股收益（稀释后） | — | $2.76 |
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AMTRCL
| Q1 26 | $2.7B | $4.3B | ||
| Q4 25 | $2.7B | $4.3B | ||
| Q3 25 | $2.7B | $5.1B | ||
| Q2 25 | $2.6B | $4.5B | ||
| Q1 25 | $2.6B | $4.0B | ||
| Q4 24 | $2.5B | $3.8B | ||
| Q3 24 | $2.5B | $4.9B | ||
| Q2 24 | $2.5B | $4.1B |
净利润AMTRCL
| Q1 26 | $3.0B | $762.0M | ||
| Q4 25 | $836.8M | $753.0M | ||
| Q3 25 | $912.6M | $1.6B | ||
| Q2 25 | $380.5M | $1.2B | ||
| Q1 25 | $498.6M | $730.0M | ||
| Q4 24 | $1.2B | $552.0M | ||
| Q3 24 | $-780.4M | $1.1B | ||
| Q2 24 | $908.4M | $854.0M |
毛利率AMTRCL
| 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AMTRCL
| Q1 26 | 0.0% | 21.9% | ||
| Q4 25 | 42.4% | 21.9% | ||
| Q3 25 | 45.4% | 33.1% | ||
| Q2 25 | 45.6% | 29.3% | ||
| Q1 25 | 48.9% | 23.6% | ||
| Q4 24 | 42.4% | 16.6% | ||
| Q3 24 | 45.2% | 33.4% | ||
| Q2 24 | 45.4% | 26.7% |
净利率AMTRCL
| Q1 26 | 110.1% | 17.9% | ||
| Q4 25 | 30.6% | 17.7% | ||
| Q3 25 | 33.6% | 30.6% | ||
| Q2 25 | 14.5% | 26.7% | ||
| Q1 25 | 19.5% | 18.3% | ||
| Q4 24 | 48.3% | 14.7% | ||
| Q3 24 | -30.9% | 22.7% | ||
| Q2 24 | 35.7% | 20.8% |
每股收益（稀释后）AMTRCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | $1.76 | $2.76 | ||
| Q3 25 | $1.82 | $5.74 | ||
| Q2 25 | $0.78 | $4.41 | ||
| Q1 25 | $1.04 | $2.70 | ||
| Q4 24 | $2.63 | $2.27 | ||
| Q3 24 | $-1.69 | $4.21 | ||
| Q2 24 | $1.92 | $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 | $1.6B | $825.0M |
| 总债务越低越好 | — | $21.3B |
| 股东权益账面价值 | $10.2B | $10.2B |
| 总资产 | — | $41.6B |
| 负债/权益比越低杠杆越低 | — | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资AMTRCL
| Q1 26 | $1.6B | $825.0M | ||
| Q4 25 | $1.5B | $825.0M | ||
| Q3 25 | $2.0B | $432.0M | ||
| Q2 25 | $2.1B | $735.0M | ||
| Q1 25 | $2.1B | $386.0M | ||
| Q4 24 | $2.0B | $388.0M | ||
| Q3 24 | $2.2B | $418.0M | ||
| Q2 24 | $2.2B | $391.0M |
总债务AMTRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | $33.8B | $18.2B | ||
| Q3 25 | $34.9B | $17.2B | ||
| Q2 25 | $35.2B | $17.6B | ||
| Q1 25 | $34.0B | $18.0B | ||
| Q4 24 | $32.8B | $18.5B | ||
| Q3 24 | $33.4B | $19.0B | ||
| Q2 24 | $35.6B | $19.8B |
股东权益AMTRCL
| Q1 26 | $10.2B | $10.2B | ||
| Q4 25 | $3.7B | $10.0B | ||
| Q3 25 | $4.0B | $10.1B | ||
| Q2 25 | $3.7B | $9.2B | ||
| Q1 25 | $3.5B | $8.0B | ||
| Q4 24 | $3.4B | $7.6B | ||
| Q3 24 | $3.6B | $7.0B | ||
| Q2 24 | $3.9B | $6.0B |
总资产AMTRCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | $63.2B | $41.6B | ||
| Q3 25 | $63.9B | $40.1B | ||
| Q2 25 | $63.8B | $38.5B | ||
| Q1 25 | $62.1B | $37.5B | ||
| Q4 24 | $61.1B | $37.1B | ||
| Q3 24 | $62.8B | $37.1B | ||
| Q2 24 | $65.8B | $37.0B |
负债/权益比AMTRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | 9.26× | 1.81× | ||
| Q3 25 | 8.82× | 1.70× | ||
| Q2 25 | 9.48× | 1.92× | ||
| Q1 25 | 9.63× | 2.26× | ||
| Q4 24 | 9.70× | 2.44× | ||
| Q3 24 | 9.16× | 2.69× | ||
| Q2 24 | 9.24× | 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 | — | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $941.0M | — |
| 自由现金流率自由现金流/营收 | 34.4% | — |
| 资本支出强度资本支出/营收 | 16.8% | — |
| 现金转化率经营现金流/净利润 | — | 8.48× |
| 过去12个月自由现金流最近4个季度 | $6.7B | — |
8季度趋势，按日历期对齐
经营现金流AMTRCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | $5.5B | $1.6B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.3B | $1.7B | ||
| Q1 25 | $1.3B | $1.6B | ||
| Q4 24 | $5.3B | $1.5B | ||
| Q3 24 | $1.5B | $897.0M | ||
| Q2 24 | $1.3B | $1.6B |
自由现金流AMTRCL
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $116.0M | ||
| Q3 25 | $994.5M | $-989.0M | ||
| Q2 25 | $976.9M | $910.0M | ||
| Q1 25 | $963.9M | $1.2B | ||
| Q4 24 | $3.7B | $915.0M | ||
| Q3 24 | $1.0B | $563.0M | ||
| Q2 24 | $1.0B | $-567.0M |
自由现金流率AMTRCL
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 2.7% | ||
| Q3 25 | 36.6% | -19.2% | ||
| Q2 25 | 37.2% | 20.1% | ||
| Q1 25 | 37.6% | 30.0% | ||
| Q4 24 | 145.3% | 24.3% | ||
| Q3 24 | 41.4% | 11.5% | ||
| Q2 24 | 39.8% | -13.8% |
资本支出强度AMTRCL
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 35.4% | ||
| Q3 25 | 17.1% | 47.8% | ||
| Q2 25 | 11.6% | 18.4% | ||
| Q1 25 | 12.9% | 10.7% | ||
| Q4 24 | 62.4% | 14.7% | ||
| Q3 24 | 16.8% | 6.8% | ||
| Q2 24 | 12.8% | 52.1% |
现金转化率AMTRCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | 6.53× | 2.16× | ||
| Q3 25 | 1.60× | 0.93× | ||
| Q2 25 | 3.37× | 1.44× | ||
| Q1 25 | 2.60× | 2.23× | ||
| Q4 24 | 4.30× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.47× | 1.84× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
