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APA Corporation（APA）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APA Corporation的1.9倍（$4.3B vs $2.2B），皇家加勒比集团净利率更高（17.7% vs 15.0%，领先2.7%），皇家加勒比集团同比增速更快（13.3% vs -24.3%），过去两年皇家加勒比集团的营收复合增速更高（6.9% vs 1.4%）
APA Corporation是美国能源企业阿帕奇公司的控股主体，主要从事碳氢化合物资源勘探相关业务，在特拉华州注册成立，总部位于得克萨斯州休斯敦，是北美地区拥有丰富项目经验的能源勘探运营企业。
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。
APA vs RCL — 直观对比
营收规模更大
RCL
是对方的1.9倍
$2.2B
营收增速更快
RCL
高出37.6%
-24.3%
净利率更高
RCL
高出2.7%
15.0%
两年增速更快
RCL
近两年复合增速
1.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $4.3B |
| 净利润 | $331.0M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 32.5% | 21.9% |
| 净利率 | 15.0% | 17.7% |
| 营收同比 | -24.3% | 13.3% |
| 净利润同比 | -22.1% | 36.4% |
| 每股收益（稀释后） | $0.79 | $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APARCL
| Q4 25 | $2.2B | $4.3B | ||
| Q3 25 | $2.3B | $5.1B | ||
| Q2 25 | $2.3B | $4.5B | ||
| Q1 25 | $2.7B | $4.0B | ||
| Q4 24 | $2.9B | $3.8B | ||
| Q3 24 | $2.7B | $4.9B | ||
| Q2 24 | $2.8B | $4.1B | ||
| Q1 24 | $2.1B | $3.7B |
净利润APARCL
| Q4 25 | $331.0M | $753.0M | ||
| Q3 25 | $205.0M | $1.6B | ||
| Q2 25 | $603.0M | $1.2B | ||
| Q1 25 | $418.0M | $730.0M | ||
| Q4 24 | $425.0M | $552.0M | ||
| Q3 24 | $-223.0M | $1.1B | ||
| Q2 24 | $541.0M | $854.0M | ||
| Q1 24 | $212.0M | $360.0M |
毛利率APARCL
| 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% | ||
| Q1 24 | — | 44.8% |
营业利润率APARCL
| Q4 25 | 32.5% | 21.9% | ||
| Q3 25 | 33.7% | 33.1% | ||
| Q2 25 | 31.8% | 29.3% | ||
| Q1 25 | 31.9% | 23.6% | ||
| Q4 24 | 31.4% | 16.6% | ||
| Q3 24 | -5.2% | 33.4% | ||
| Q2 24 | 34.4% | 26.7% | ||
| Q1 24 | 32.2% | 20.1% |
净利率APARCL
| Q4 25 | 15.0% | 17.7% | ||
| Q3 25 | 9.0% | 30.6% | ||
| Q2 25 | 26.0% | 26.7% | ||
| Q1 25 | 15.4% | 18.3% | ||
| Q4 24 | 14.6% | 14.7% | ||
| Q3 24 | -8.1% | 22.7% | ||
| Q2 24 | 19.0% | 20.8% | ||
| Q1 24 | 9.9% | 9.7% |
每股收益（稀释后）APARCL
| Q4 25 | $0.79 | $2.76 | ||
| Q3 25 | $0.57 | $5.74 | ||
| Q2 25 | $1.67 | $4.41 | ||
| Q1 25 | $0.96 | $2.70 | ||
| Q4 24 | $0.97 | $2.27 | ||
| Q3 24 | $-0.60 | $4.21 | ||
| Q2 24 | $1.46 | $3.11 | ||
| Q1 24 | $0.44 | $1.35 |
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 | $516.0M | $825.0M |
| 总债务越低越好 | $4.3B | $18.2B |
| 股东权益账面价值 | $6.1B | $10.0B |
| 总资产 | $17.8B | $41.6B |
| 负债/权益比越低杠杆越低 | 0.70× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资APARCL
| Q4 25 | $516.0M | $825.0M | ||
| Q3 25 | $475.0M | $432.0M | ||
| Q2 25 | $107.0M | $735.0M | ||
| Q1 25 | $67.0M | $386.0M | ||
| Q4 24 | $625.0M | $388.0M | ||
| Q3 24 | $64.0M | $418.0M | ||
| Q2 24 | $160.0M | $391.0M | ||
| Q1 24 | $102.0M | $437.0M |
总债务APARCL
| Q4 25 | $4.3B | $18.2B | ||
| Q3 25 | $4.3B | $17.2B | ||
| Q2 25 | $4.3B | $17.6B | ||
| Q1 25 | $5.2B | $18.0B | ||
| Q4 24 | $6.0B | $18.5B | ||
| Q3 24 | $6.4B | $19.0B | ||
| Q2 24 | $6.7B | $19.8B | ||
| Q1 24 | $5.2B | $18.9B |
股东权益APARCL
| Q4 25 | $6.1B | $10.0B | ||
| Q3 25 | $6.0B | $10.1B | ||
| Q2 25 | $5.9B | $9.2B | ||
| Q1 25 | $5.4B | $8.0B | ||
| Q4 24 | $5.3B | $7.6B | ||
| Q3 24 | $5.1B | $7.0B | ||
| Q2 24 | $5.4B | $6.0B | ||
| Q1 24 | $2.6B | $5.2B |
总资产APARCL
| Q4 25 | $17.8B | $41.6B | ||
| Q3 25 | $17.7B | $40.1B | ||
| Q2 25 | $18.1B | $38.5B | ||
| Q1 25 | $18.5B | $37.5B | ||
| Q4 24 | $19.4B | $37.1B | ||
| Q3 24 | $19.4B | $37.1B | ||
| Q2 24 | $20.2B | $37.0B | ||
| Q1 24 | $15.0B | $35.2B |
负债/权益比APARCL
| Q4 25 | 0.70× | 1.81× | ||
| Q3 25 | 0.72× | 1.70× | ||
| Q2 25 | 0.73× | 1.92× | ||
| Q1 25 | 0.96× | 2.26× | ||
| Q4 24 | 1.13× | 2.44× | ||
| Q3 24 | 1.25× | 2.69× | ||
| Q2 24 | 1.24× | 3.29× | ||
| Q1 24 | 1.99× | 3.66× |
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 | $808.0M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | — | $116.0M |
| 自由现金流率自由现金流/营收 | — | 2.7% |
| 资本支出强度资本支出/营收 | — | 35.4% |
| 现金转化率经营现金流/净利润 | 2.44× | 2.16× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流APARCL
| Q4 25 | $808.0M | $1.6B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $1.3B | $897.0M | ||
| Q2 24 | $877.0M | $1.6B | ||
| Q1 24 | $368.0M | $1.3B |
自由现金流APARCL
| 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 | ||
| Q1 24 | — | $1.1B |
自由现金流率APARCL
| 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% | ||
| Q1 24 | — | 29.1% |
资本支出强度APARCL
| 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% | ||
| Q1 24 | — | 6.5% |
现金转化率APARCL
| Q4 25 | 2.44× | 2.16× | ||
| Q3 25 | 7.12× | 0.93× | ||
| Q2 25 | 1.96× | 1.44× | ||
| Q1 25 | 2.62× | 2.23× | ||
| Q4 24 | 2.44× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.62× | 1.84× | ||
| Q1 24 | 1.74× | 3.69× |
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
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
