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亚马逊（AMZN）与Hilton Grand Vacations Inc.（HGV）财务数据对比。点击上方公司名可切换其他公司
亚马逊的季度营收约是Hilton Grand Vacations Inc.的179.0倍（$213.4B vs $1.2B）。亚马逊净利率更高（9.9% vs 4.0%，领先5.9%）。亚马逊同比增速更快（13.6% vs 3.7%）。亚马逊自由现金流更多（$14.9B vs $147.0M）。过去两年亚马逊的营收复合增速更高（22.0% vs 7.4%）
亚马逊是全球知名的综合电商与科技企业，业务覆盖北美及全球多个地区，设有北美零售、国际零售、亚马逊云科技（AWS）三大业务板块。除运营线上线下零售渠道、提供消费商品售卖与订阅服务外，也为第三方卖家提供销售平台，还自主研发销售Kindle、Fire平板等电子设备。
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
AMZN vs HGV — 直观对比
营收规模更大
AMZN
是对方的179.0倍
$1.2B
营收增速更快
AMZN
高出9.9%
3.7%
净利率更高
AMZN
高出5.9%
4.0%
自由现金流更多
AMZN
多$14.8B
$147.0M
两年增速更快
AMZN
近两年复合增速
7.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $213.4B | $1.2B |
| 净利润 | $21.2B | $48.0M |
| 毛利率 | 48.5% | — |
| 营业利润率 | 11.7% | 7.8% |
| 净利率 | 9.9% | 4.0% |
| 营收同比 | 13.6% | 3.7% |
| 净利润同比 | 5.9% | 140.0% |
| 每股收益（稀释后） | $1.95 | $0.53 |
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AMZNHGV
| Q4 25 | $213.4B | $1.2B | ||
| Q3 25 | $180.2B | $1.2B | ||
| Q2 25 | $167.7B | $1.1B | ||
| Q1 25 | $155.7B | $1.0B | ||
| Q4 24 | $187.8B | $1.1B | ||
| Q3 24 | $158.9B | $1.2B | ||
| Q2 24 | $148.0B | $1.1B | ||
| Q1 24 | $143.3B | $1.0B |
净利润AMZNHGV
| Q4 25 | $21.2B | $48.0M | ||
| Q3 25 | $21.2B | $25.0M | ||
| Q2 25 | $18.2B | $25.0M | ||
| Q1 25 | $17.1B | $-17.0M | ||
| Q4 24 | $20.0B | $20.0M | ||
| Q3 24 | $15.3B | $29.0M | ||
| Q2 24 | $13.5B | $2.0M | ||
| Q1 24 | $10.4B | $-4.0M |
毛利率AMZNHGV
| Q4 25 | 48.5% | — | ||
| Q3 25 | 50.8% | — | ||
| Q2 25 | 51.8% | — | ||
| Q1 25 | 50.6% | — | ||
| Q4 24 | 47.3% | — | ||
| Q3 24 | 49.0% | — | ||
| Q2 24 | 50.1% | — | ||
| Q1 24 | 49.3% | — |
营业利润率AMZNHGV
| Q4 25 | 11.7% | 7.8% | ||
| Q3 25 | 9.7% | 3.9% | ||
| Q2 25 | 11.4% | 3.8% | ||
| Q1 25 | 11.8% | -0.6% | ||
| Q4 24 | 11.3% | 4.3% | ||
| Q3 24 | 11.0% | 7.9% | ||
| Q2 24 | 9.9% | 0.6% | ||
| Q1 24 | 10.7% | -1.3% |
净利率AMZNHGV
| Q4 25 | 9.9% | 4.0% | ||
| Q3 25 | 11.8% | 2.1% | ||
| Q2 25 | 10.8% | 2.2% | ||
| Q1 25 | 11.0% | -1.7% | ||
| Q4 24 | 10.7% | 1.7% | ||
| Q3 24 | 9.6% | 2.5% | ||
| Q2 24 | 9.1% | 0.2% | ||
| Q1 24 | 7.3% | -0.4% |
每股收益（稀释后）AMZNHGV
| Q4 25 | $1.95 | $0.53 | ||
| Q3 25 | $1.95 | $0.28 | ||
| Q2 25 | $1.68 | $0.25 | ||
| Q1 25 | $1.59 | $-0.17 | ||
| Q4 24 | $1.86 | $0.19 | ||
| Q3 24 | $1.43 | $0.28 | ||
| Q2 24 | $1.26 | $0.02 | ||
| Q1 24 | $0.98 | $-0.04 |
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 | $123.0B | $239.0M |
| 总债务越低越好 | $68.8B | $4.5B |
| 股东权益账面价值 | $411.1B | $1.3B |
| 总资产 | $818.0B | $11.5B |
| 负债/权益比越低杠杆越低 | 0.17× | 3.53× |
8季度趋势，按日历期对齐
现金及短期投资AMZNHGV
| Q4 25 | $123.0B | $239.0M | ||
| Q3 25 | $94.2B | $215.0M | ||
| Q2 25 | $93.2B | $269.0M | ||
| Q1 25 | $94.6B | $259.0M | ||
| Q4 24 | $101.2B | $328.0M | ||
| Q3 24 | $88.1B | $297.0M | ||
| Q2 24 | $89.1B | $328.0M | ||
| Q1 24 | $85.1B | $355.0M |
总债务AMZNHGV
| Q4 25 | $68.8B | $4.5B | ||
| Q3 25 | $55.1B | $4.7B | ||
| Q2 25 | $56.1B | $4.6B | ||
| Q1 25 | $58.8B | $4.5B | ||
| Q4 24 | $58.0B | $4.6B | ||
| Q3 24 | $60.5B | $5.0B | ||
| Q2 24 | $62.7B | $4.9B | ||
| Q1 24 | $66.9B | $5.1B |
股东权益AMZNHGV
| Q4 25 | $411.1B | $1.3B | ||
| Q3 25 | $369.6B | $1.4B | ||
| Q2 25 | $333.8B | $1.5B | ||
| Q1 25 | $305.9B | $1.6B | ||
| Q4 24 | $286.0B | $1.8B | ||
| Q3 24 | $259.2B | $1.8B | ||
| Q2 24 | $236.4B | $1.9B | ||
| Q1 24 | $216.7B | $2.0B |
总资产AMZNHGV
| Q4 25 | $818.0B | $11.5B | ||
| Q3 25 | $727.9B | $11.7B | ||
| Q2 25 | $682.2B | $11.7B | ||
| Q1 25 | $643.3B | $11.8B | ||
| Q4 24 | $624.9B | $11.4B | ||
| Q3 24 | $584.6B | $11.2B | ||
| Q2 24 | $554.8B | $11.5B | ||
| Q1 24 | $531.0B | $11.7B |
负债/权益比AMZNHGV
| Q4 25 | 0.17× | 3.53× | ||
| Q3 25 | 0.15× | 3.41× | ||
| Q2 25 | 0.17× | 3.07× | ||
| Q1 25 | 0.19× | 2.83× | ||
| Q4 24 | 0.20× | 2.63× | ||
| Q3 24 | 0.23× | 2.73× | ||
| Q2 24 | 0.27× | 2.55× | ||
| Q1 24 | 0.31× | 2.57× |
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 | $54.5B | $167.0M |
| 自由现金流经营现金流 - 资本支出 | $14.9B | $147.0M |
| 自由现金流率自由现金流/营收 | 7.0% | 12.3% |
| 资本支出强度资本支出/营收 | 18.5% | 1.7% |
| 现金转化率经营现金流/净利润 | 2.57× | 3.48× |
| 过去12个月自由现金流最近4个季度 | $7.7B | $230.0M |
8季度趋势，按日历期对齐
经营现金流AMZNHGV
| Q4 25 | $54.5B | $167.0M | ||
| Q3 25 | $35.5B | $34.0M | ||
| Q2 25 | $32.5B | $61.0M | ||
| Q1 25 | $17.0B | $38.0M | ||
| Q4 24 | $45.6B | $105.0M | ||
| Q3 24 | $26.0B | $91.0M | ||
| Q2 24 | $25.3B | $113.0M | ||
| Q1 24 | $19.0B | $0 |
自由现金流AMZNHGV
| Q4 25 | $14.9B | $147.0M | ||
| Q3 25 | $430.0M | $13.0M | ||
| Q2 25 | $332.0M | $46.0M | ||
| Q1 25 | $-8.0B | $24.0M | ||
| Q4 24 | $17.8B | $90.0M | ||
| Q3 24 | $3.4B | $81.0M | ||
| Q2 24 | $7.7B | $106.0M | ||
| Q1 24 | $4.1B | — |
自由现金流率AMZNHGV
| Q4 25 | 7.0% | 12.3% | ||
| Q3 25 | 0.2% | 1.1% | ||
| Q2 25 | 0.2% | 4.0% | ||
| Q1 25 | -5.1% | 2.4% | ||
| Q4 24 | 9.5% | 7.8% | ||
| Q3 24 | 2.1% | 6.9% | ||
| Q2 24 | 5.2% | 9.6% | ||
| Q1 24 | 2.8% | — |
资本支出强度AMZNHGV
| Q4 25 | 18.5% | 1.7% | ||
| Q3 25 | 19.5% | 1.8% | ||
| Q2 25 | 19.2% | 1.3% | ||
| Q1 25 | 16.1% | 1.4% | ||
| Q4 24 | 14.8% | 1.3% | ||
| Q3 24 | 14.2% | 0.9% | ||
| Q2 24 | 11.9% | 0.6% | ||
| Q1 24 | 10.4% | 1.0% |
现金转化率AMZNHGV
| Q4 25 | 2.57× | 3.48× | ||
| Q3 25 | 1.68× | 1.36× | ||
| Q2 25 | 1.79× | 2.44× | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 2.28× | 5.25× | ||
| Q3 24 | 1.69× | 3.14× | ||
| Q2 24 | 1.87× | 56.50× | ||
| Q1 24 | 1.82× | — |
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
AMZN
| Products | $90.0B | 42% |
| Third Party Seller Services | $52.8B | 25% |
| Other | $49.9B | 23% |
| Subscription Services | $13.1B | 6% |
| Physical Stores | $5.9B | 3% |
| Other Services | $1.7B | 1% |
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Interest Income Revenue | $125.0M | 10% |
| Resort Management | $118.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
