vs
Apple Hospitality REIT, Inc.（APLE）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
Apple Hospitality REIT, Inc.的季度营收约是MARCUS CORP的1.7倍（$326.4M vs $193.5M），MARCUS CORP同比增速更快（2.8% vs -2.0%），Apple Hospitality REIT, Inc.自由现金流更多（$282.0M vs $26.4M），过去两年MARCUS CORP的营收复合增速更高（18.2% vs -0.5%）
莱曼 hospitality properties是一家深耕酒店、度假村、娱乐及媒体领域的企业，得名于旗下核心资产——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作为爱德华·盖洛德旗下俄克拉荷马出版公司子公司的时期，1983年收购WSM公司后，拿下大奥普里等知名IP，奠定了如今的业务发展基础。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
APLE vs MCS — 直观对比
营收规模更大
APLE
是对方的1.7倍
$193.5M
营收增速更快
MCS
高出4.7%
-2.0%
自由现金流更多
APLE
多$255.6M
$26.4M
两年增速更快
MCS
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $326.4M | $193.5M |
| 净利润 | $29.6M | — |
| 毛利率 | 37.2% | — |
| 营业利润率 | 15.2% | 0.9% |
| 净利率 | 9.1% | — |
| 营收同比 | -2.0% | 2.8% |
| 净利润同比 | -0.7% | — |
| 每股收益（稀释后） | $0.13 | — |
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APLEMCS
| Q4 25 | $326.4M | $193.5M | ||
| Q3 25 | $373.9M | $210.2M | ||
| Q2 25 | $384.4M | $206.0M | ||
| Q1 25 | $327.7M | $148.8M | ||
| Q4 24 | $333.0M | $188.3M | ||
| Q3 24 | $378.8M | $232.7M | ||
| Q2 24 | $390.1M | $176.0M | ||
| Q1 24 | $329.5M | $138.5M |
净利润APLEMCS
| Q4 25 | $29.6M | — | ||
| Q3 25 | $50.9M | $16.2M | ||
| Q2 25 | $63.6M | $7.3M | ||
| Q1 25 | $31.2M | $-16.8M | ||
| Q4 24 | $29.8M | $986.0K | ||
| Q3 24 | $56.3M | $23.3M | ||
| Q2 24 | $73.9M | $-20.2M | ||
| Q1 24 | $54.0M | $-11.9M |
毛利率APLEMCS
| Q4 25 | 37.2% | — | ||
| Q3 25 | 40.6% | — | ||
| Q2 25 | 42.6% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 38.6% | — | ||
| Q3 24 | 41.9% | — | ||
| Q2 24 | 44.6% | — | ||
| Q1 24 | 40.1% | — |
营业利润率APLEMCS
| Q4 25 | 15.2% | 0.9% | ||
| Q3 25 | 19.4% | 10.8% | ||
| Q2 25 | 22.1% | 6.3% | ||
| Q1 25 | 15.5% | -13.7% | ||
| Q4 24 | 15.0% | -1.2% | ||
| Q3 24 | 20.5% | 14.1% | ||
| Q2 24 | 24.0% | 1.3% | ||
| Q1 24 | 21.7% | -12.0% |
净利率APLEMCS
| Q4 25 | 9.1% | — | ||
| Q3 25 | 13.6% | 7.7% | ||
| Q2 25 | 16.6% | 3.6% | ||
| Q1 25 | 9.5% | -11.3% | ||
| Q4 24 | 9.0% | 0.5% | ||
| Q3 24 | 14.9% | 10.0% | ||
| Q2 24 | 19.0% | -11.5% | ||
| Q1 24 | 16.4% | -8.6% |
每股收益（稀释后）APLEMCS
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.21 | — | ||
| Q2 25 | $0.27 | — | ||
| Q1 25 | $0.13 | — | ||
| Q4 24 | $0.13 | — | ||
| Q3 24 | $0.23 | — | ||
| Q2 24 | $0.31 | — | ||
| Q1 24 | $0.22 | — |
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 | $8.5M | $23.4M |
| 总债务越低越好 | $1.5B | $159.0M |
| 股东权益账面价值 | $3.1B | $457.4M |
| 总资产 | $4.9B | $1.0B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资APLEMCS
| Q4 25 | $8.5M | $23.4M | ||
| Q3 25 | $50.3M | $7.4M | ||
| Q2 25 | $7.9M | $14.9M | ||
| Q1 25 | $14.9M | $11.9M | ||
| Q4 24 | $10.3M | $40.8M | ||
| Q3 24 | $6.1M | $28.4M | ||
| Q2 24 | $7.2M | $32.8M | ||
| Q1 24 | $4.9M | $17.3M |
总债务APLEMCS
| Q4 25 | $1.5B | $159.0M | ||
| Q3 25 | $1.5B | $162.0M | ||
| Q2 25 | $1.5B | $179.9M | ||
| Q1 25 | $1.5B | $198.9M | ||
| Q4 24 | $1.5B | $159.1M | ||
| Q3 24 | $1.5B | $173.1M | ||
| Q2 24 | $1.5B | $175.7M | ||
| Q1 24 | $1.5B | $169.8M |
股东权益APLEMCS
| Q4 25 | $3.1B | $457.4M | ||
| Q3 25 | $3.2B | $454.3M | ||
| Q2 25 | $3.2B | $448.4M | ||
| Q1 25 | $3.2B | $441.8M | ||
| Q4 24 | $3.3B | $464.9M | ||
| Q3 24 | $3.3B | $462.3M | ||
| Q2 24 | $3.3B | $449.4M | ||
| Q1 24 | $3.3B | $459.3M |
总资产APLEMCS
| Q4 25 | $4.9B | $1.0B | ||
| Q3 25 | $4.9B | $1.0B | ||
| Q2 25 | $4.9B | $1.0B | ||
| Q1 25 | $4.9B | $1.0B | ||
| Q4 24 | $5.0B | $1.0B | ||
| Q3 24 | $5.0B | $1.0B | ||
| Q2 24 | $5.1B | $1.1B | ||
| Q1 24 | $5.0B | $1.0B |
负债/权益比APLEMCS
| Q4 25 | 0.49× | 0.35× | ||
| Q3 25 | 0.47× | 0.36× | ||
| Q2 25 | 0.48× | 0.40× | ||
| Q1 25 | 0.48× | 0.45× | ||
| Q4 24 | 0.45× | 0.34× | ||
| Q3 24 | 0.46× | 0.37× | ||
| Q2 24 | 0.46× | 0.39× | ||
| Q1 24 | 0.45× | 0.37× |
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 | $370.2M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $282.0M | $26.4M |
| 自由现金流率自由现金流/营收 | 86.4% | 13.6% |
| 资本支出强度资本支出/营收 | 27.0% | 11.6% |
| 现金转化率经营现金流/净利润 | 12.50× | — |
| 过去12个月自由现金流最近4个季度 | $516.8M | $989.0K |
8季度趋势，按日历期对齐
经营现金流APLEMCS
| Q4 25 | $370.2M | $48.8M | ||
| Q3 25 | $126.4M | $39.1M | ||
| Q2 25 | $108.8M | $31.6M | ||
| Q1 25 | $49.1M | $-35.3M | ||
| Q4 24 | $405.4M | $52.6M | ||
| Q3 24 | $128.2M | $30.5M | ||
| Q2 24 | $127.3M | $36.0M | ||
| Q1 24 | $54.7M | $-15.1M |
自由现金流APLEMCS
| Q4 25 | $282.0M | $26.4M | ||
| Q3 25 | $109.0M | $18.2M | ||
| Q2 25 | $96.2M | $14.7M | ||
| Q1 25 | $29.5M | $-58.3M | ||
| Q4 24 | $327.1M | $27.1M | ||
| Q3 24 | $113.1M | $12.0M | ||
| Q2 24 | $115.0M | $16.1M | ||
| Q1 24 | $34.4M | $-30.5M |
自由现金流率APLEMCS
| Q4 25 | 86.4% | 13.6% | ||
| Q3 25 | 29.2% | 8.7% | ||
| Q2 25 | 25.0% | 7.1% | ||
| Q1 25 | 9.0% | -39.2% | ||
| Q4 24 | 98.2% | 14.4% | ||
| Q3 24 | 29.9% | 5.2% | ||
| Q2 24 | 29.5% | 9.2% | ||
| Q1 24 | 10.4% | -22.0% |
资本支出强度APLEMCS
| Q4 25 | 27.0% | 11.6% | ||
| Q3 25 | 4.7% | 9.9% | ||
| Q2 25 | 3.3% | 8.2% | ||
| Q1 25 | 6.0% | 15.5% | ||
| Q4 24 | 23.5% | 13.5% | ||
| Q3 24 | 4.0% | 7.9% | ||
| Q2 24 | 3.2% | 11.3% | ||
| Q1 24 | 6.2% | 11.1% |
现金转化率APLEMCS
| Q4 25 | 12.50× | — | ||
| Q3 25 | 2.49× | 2.41× | ||
| Q2 25 | 1.71× | 4.32× | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 13.59× | 53.31× | ||
| Q3 24 | 2.28× | 1.31× | ||
| Q2 24 | 1.72× | — | ||
| Q1 24 | 1.01× | — |
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
APLE
| Occupancy | $293.0M | 90% |
| Hotel Other | $17.2M | 5% |
| Food And Beverage | $16.3M | 5% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
