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Arhaus, Inc.（ARHS）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是Arhaus, Inc.的1.8倍（$664.6M vs $364.8M），Ryman Hospitality Properties, Inc.净利率更高（10.4% vs 4.1%，领先6.3%），Ryman Hospitality Properties, Inc.同比增速更快（13.2% vs 5.1%），过去两年Arhaus, Inc.的营收复合增速更高（11.2% vs 4.1%）
Arhaus, Inc.是源自美国的高端家居零售企业，总部位于俄亥俄州波士顿高地，1986年正式创立。品牌主打可持续理念与工匠级品质，产品品类丰富，采用全渠道模式面向个人消费者及企业客户，覆盖民用与商用家居场景，提供相关产品与配套服务。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下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为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
ARHS vs RHP — 直观对比
营收规模更大
RHP
是对方的1.8倍
$364.8M
营收增速更快
RHP
高出8.0%
5.1%
净利率更高
RHP
高出6.3%
4.1%
两年增速更快
ARHS
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $364.8M | $664.6M |
| 净利润 | $15.1M | $69.4M |
| 毛利率 | 38.1% | — |
| 营业利润率 | 5.6% | 20.7% |
| 净利率 | 4.1% | 10.4% |
| 营收同比 | 5.1% | 13.2% |
| 净利润同比 | -29.1% | 10.1% |
| 每股收益（稀释后） | $0.11 | $1.03 |
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ARHSRHP
| Q1 26 | — | $664.6M | ||
| Q4 25 | $364.8M | $737.8M | ||
| Q3 25 | $344.6M | $592.5M | ||
| Q2 25 | $358.4M | $659.5M | ||
| Q1 25 | $311.4M | $587.3M | ||
| Q4 24 | $347.0M | $647.6M | ||
| Q3 24 | $319.1M | $550.0M | ||
| Q2 24 | $309.8M | $613.3M |
净利润ARHSRHP
| Q1 26 | — | $69.4M | ||
| Q4 25 | $15.1M | $74.5M | ||
| Q3 25 | $12.2M | $34.9M | ||
| Q2 25 | $35.1M | $71.8M | ||
| Q1 25 | $4.9M | $63.0M | ||
| Q4 24 | $21.3M | $72.3M | ||
| Q3 24 | $9.9M | $59.0M | ||
| Q2 24 | $22.2M | $100.8M |
毛利率ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | 38.1% | 41.4% | ||
| Q3 25 | 38.7% | 40.9% | ||
| Q2 25 | 41.4% | 49.7% | ||
| Q1 25 | 37.1% | 44.4% | ||
| Q4 24 | 40.0% | 40.4% | ||
| Q3 24 | 38.6% | 43.1% | ||
| Q2 24 | 40.1% | 48.4% |
营业利润率ARHSRHP
| Q1 26 | — | 20.7% | ||
| Q4 25 | 5.6% | 19.4% | ||
| Q3 25 | 4.8% | 15.0% | ||
| Q2 25 | 13.0% | 21.1% | ||
| Q1 25 | 1.7% | 19.8% | ||
| Q4 24 | 8.2% | 18.6% | ||
| Q3 24 | 3.3% | 19.3% | ||
| Q2 24 | 9.5% | 27.4% |
净利率ARHSRHP
| Q1 26 | — | 10.4% | ||
| Q4 25 | 4.1% | 10.1% | ||
| Q3 25 | 3.5% | 5.9% | ||
| Q2 25 | 9.8% | 10.9% | ||
| Q1 25 | 1.6% | 10.7% | ||
| Q4 24 | 6.1% | 11.2% | ||
| Q3 24 | 3.1% | 10.7% | ||
| Q2 24 | 7.2% | 16.4% |
每股收益（稀释后）ARHSRHP
| Q1 26 | — | $1.03 | ||
| Q4 25 | $0.11 | $1.12 | ||
| Q3 25 | $0.09 | $0.53 | ||
| Q2 25 | $0.25 | $1.12 | ||
| Q1 25 | $0.03 | $1.00 | ||
| Q4 24 | $0.15 | $1.12 | ||
| Q3 24 | $0.07 | $0.94 | ||
| Q2 24 | $0.16 | $1.65 |
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 | $253.4M | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $418.2M | $770.8M |
| 总资产 | $1.4B | $6.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | $253.4M | $471.4M | ||
| Q3 25 | $262.2M | $483.3M | ||
| Q2 25 | $234.8M | $420.6M | ||
| Q1 25 | $214.4M | $413.9M | ||
| Q4 24 | $197.5M | $477.7M | ||
| Q3 24 | $177.7M | $534.9M | ||
| Q2 24 | $174.2M | $498.4M |
股东权益ARHSRHP
| Q1 26 | — | $770.8M | ||
| Q4 25 | $418.2M | $750.2M | ||
| Q3 25 | $400.4M | $758.5M | ||
| Q2 25 | $385.6M | $800.4M | ||
| Q1 25 | $348.8M | $531.5M | ||
| Q4 24 | $343.7M | $549.0M | ||
| Q3 24 | $320.6M | $551.9M | ||
| Q2 24 | $309.3M | $562.6M |
总资产ARHSRHP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $1.4B | $6.2B | ||
| Q3 25 | $1.4B | $6.2B | ||
| Q2 25 | $1.3B | $6.1B | ||
| Q1 25 | $1.3B | $5.2B | ||
| Q4 24 | $1.2B | $5.2B | ||
| Q3 24 | $1.2B | $5.2B | ||
| Q2 24 | $1.2B | $5.1B |
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 | $9.3M | — |
| 自由现金流经营现金流 - 资本支出 | $-8.8M | — |
| 自由现金流率自由现金流/营收 | -2.4% | — |
| 资本支出强度资本支出/营收 | 5.0% | — |
| 现金转化率经营现金流/净利润 | 0.62× | — |
| 过去12个月自由现金流最近4个季度 | $59.0M | — |
8季度趋势，按日历期对齐
经营现金流ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | $9.3M | $164.7M | ||
| Q3 25 | $46.1M | $205.2M | ||
| Q2 25 | $34.9M | $122.5M | ||
| Q1 25 | $46.5M | $98.2M | ||
| Q4 24 | $31.7M | $166.6M | ||
| Q3 24 | $31.1M | $218.1M | ||
| Q2 24 | $47.5M | $184.3M |
自由现金流ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | $-8.8M | $58.5M | ||
| Q3 25 | $28.0M | $135.4M | ||
| Q2 25 | $20.9M | $53.0M | ||
| Q1 25 | $18.9M | $-14.5M | ||
| Q4 24 | $13.0M | $76.0M | ||
| Q3 24 | $4.6M | $85.7M | ||
| Q2 24 | $11.3M | $78.8M |
自由现金流率ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 7.9% | ||
| Q3 25 | 8.1% | 22.9% | ||
| Q2 25 | 5.8% | 8.0% | ||
| Q1 25 | 6.1% | -2.5% | ||
| Q4 24 | 3.7% | 11.7% | ||
| Q3 24 | 1.4% | 15.6% | ||
| Q2 24 | 3.6% | 12.9% |
资本支出强度ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 14.4% | ||
| Q3 25 | 5.3% | 11.8% | ||
| Q2 25 | 3.9% | 10.5% | ||
| Q1 25 | 8.9% | 19.2% | ||
| Q4 24 | 5.4% | 14.0% | ||
| Q3 24 | 8.3% | 24.1% | ||
| Q2 24 | 11.7% | 17.2% |
现金转化率ARHSRHP
| Q1 26 | — | — | ||
| Q4 25 | 0.62× | 2.21× | ||
| Q3 25 | 3.77× | 5.88× | ||
| Q2 25 | 1.00× | 1.71× | ||
| Q1 25 | 9.53× | 1.56× | ||
| Q4 24 | 1.49× | 2.30× | ||
| Q3 24 | 3.14× | 3.70× | ||
| Q2 24 | 2.14× | 1.83× |
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
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
