vs
亚什兰（ASH）与缤客控股（BKNG）财务数据对比。点击上方公司名可切换其他公司
缤客控股的季度营收约是亚什兰的16.4倍（$6.3B vs $386.0M）。缤客控股同比增速更快（16.0% vs -4.7%）。缤客控股自由现金流更多（$1.4B vs $111.0M）。过去两年缤客控股的营收复合增速更高（19.9% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
缤客控股是全球领先的旅行服务集团，旗下运营Booking.com、Priceline、Agoda、Kayak等知名在线平台，为休闲及商务旅客提供酒店预订、机票订购、租车服务、度假套餐、餐厅预约等服务，业务覆盖全球绝大多数国家和地区，合作数百万家旅游及餐饮商户。
ASH vs BKNG — 直观对比
营收规模更大
BKNG
是对方的16.4倍
$386.0M
营收增速更快
BKNG
高出20.7%
-4.7%
自由现金流更多
BKNG
多$1.3B
$111.0M
两年增速更快
BKNG
近两年复合增速
-18.1%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $6.3B |
| 净利润 | $-12.0M | — |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | 32.0% |
| 净利率 | -3.1% | — |
| 营收同比 | -4.7% | 16.0% |
| 净利润同比 | 92.7% | — |
| 每股收益（稀释后） | $-0.26 | $43.66 |
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ASHBKNG
| Q4 25 | $386.0M | $6.3B | ||
| Q3 25 | $477.0M | $9.0B | ||
| Q2 25 | $463.0M | $6.8B | ||
| Q1 25 | $479.0M | $4.8B | ||
| Q4 24 | $405.0M | $5.5B | ||
| Q3 24 | $521.0M | $8.0B | ||
| Q2 24 | $544.0M | $5.9B | ||
| Q1 24 | $575.0M | $4.4B |
净利润ASHBKNG
| Q4 25 | $-12.0M | — | ||
| Q3 25 | $31.0M | — | ||
| Q2 25 | $-742.0M | — | ||
| Q1 25 | $31.0M | — | ||
| Q4 24 | $-165.0M | — | ||
| Q3 24 | $17.0M | — | ||
| Q2 24 | $6.0M | — | ||
| Q1 24 | $120.0M | — |
毛利率ASHBKNG
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
营业利润率ASHBKNG
| Q4 25 | -1.6% | 32.0% | ||
| Q3 25 | 12.8% | 38.7% | ||
| Q2 25 | -152.9% | 33.1% | ||
| Q1 25 | 10.6% | 22.3% | ||
| Q4 24 | -44.2% | 31.6% | ||
| Q3 24 | 6.1% | 39.8% | ||
| Q2 24 | -11.2% | 31.7% | ||
| Q1 24 | 3.7% | 17.9% |
净利率ASHBKNG
| Q4 25 | -3.1% | — | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | -160.3% | — | ||
| Q1 25 | 6.5% | — | ||
| Q4 24 | -40.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 20.9% | — |
每股收益（稀释后）ASHBKNG
| Q4 25 | $-0.26 | $43.66 | ||
| Q3 25 | $0.83 | $84.41 | ||
| Q2 25 | $-16.21 | $27.43 | ||
| Q1 25 | $0.65 | $10.07 | ||
| Q4 24 | $-3.50 | $31.60 | ||
| Q3 24 | $0.34 | $74.34 | ||
| Q2 24 | $0.12 | $44.38 | ||
| Q1 24 | $2.39 | $22.37 |
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 | $304.0M | $17.2B |
| 总债务越低越好 | $1.4B | $18.7B |
| 股东权益账面价值 | $1.9B | $-5.6B |
| 总资产 | $4.5B | $29.3B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资ASHBKNG
| Q4 25 | $304.0M | $17.2B | ||
| Q3 25 | $215.0M | $16.5B | ||
| Q2 25 | $207.0M | $17.6B | ||
| Q1 25 | $168.0M | $15.6B | ||
| Q4 24 | $219.0M | $16.2B | ||
| Q3 24 | $300.0M | $15.8B | ||
| Q2 24 | $399.0M | $16.3B | ||
| Q1 24 | $439.0M | $16.0B |
总债务ASHBKNG
| Q4 25 | $1.4B | $18.7B | ||
| Q3 25 | $1.4B | $17.0B | ||
| Q2 25 | $1.4B | $18.5B | ||
| Q1 25 | $1.3B | $16.0B | ||
| Q4 24 | $1.3B | $16.6B | ||
| Q3 24 | $1.3B | $16.2B | ||
| Q2 24 | $1.3B | $16.8B | ||
| Q1 24 | $1.3B | $16.9B |
股东权益ASHBKNG
| Q4 25 | $1.9B | $-5.6B | ||
| Q3 25 | $1.9B | $-4.7B | ||
| Q2 25 | $1.9B | $-6.7B | ||
| Q1 25 | $2.6B | $-6.1B | ||
| Q4 24 | $2.6B | $-4.0B | ||
| Q3 24 | $2.9B | $-3.7B | ||
| Q2 24 | $3.0B | $-4.3B | ||
| Q1 24 | $3.1B | $-4.1B |
总资产ASHBKNG
| Q4 25 | $4.5B | $29.3B | ||
| Q3 25 | $4.6B | $28.8B | ||
| Q2 25 | $4.6B | $30.7B | ||
| Q1 25 | $5.2B | $27.2B | ||
| Q4 24 | $5.2B | $27.7B | ||
| Q3 24 | $5.6B | $28.0B | ||
| Q2 24 | $5.7B | $28.5B | ||
| Q1 24 | $5.9B | $27.7B |
负债/权益比ASHBKNG
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $1.4B |
| 自由现金流率自由现金流/营收 | 28.8% | 22.3% |
| 资本支出强度资本支出/营收 | 3.6% | 1.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $200.0M | $9.1B |
8季度趋势，按日历期对齐
经营现金流ASHBKNG
| Q4 25 | $125.0M | $1.5B | ||
| Q3 25 | $40.0M | $1.4B | ||
| Q2 25 | $115.0M | $3.2B | ||
| Q1 25 | $9.0M | $3.3B | ||
| Q4 24 | $-30.0M | $721.0M | ||
| Q3 24 | $80.0M | $2.4B | ||
| Q2 24 | $127.0M | $2.5B | ||
| Q1 24 | $54.0M | $2.7B |
自由现金流ASHBKNG
| Q4 25 | $111.0M | $1.4B | ||
| Q3 25 | $6.0M | $1.4B | ||
| Q2 25 | $95.0M | $3.1B | ||
| Q1 25 | $-12.0M | $3.2B | ||
| Q4 24 | $-53.0M | $645.0M | ||
| Q3 24 | $42.0M | $2.3B | ||
| Q2 24 | $98.0M | $2.4B | ||
| Q1 24 | $20.0M | $2.6B |
自由现金流率ASHBKNG
| Q4 25 | 28.8% | 22.3% | ||
| Q3 25 | 1.3% | 15.2% | ||
| Q2 25 | 20.5% | 46.1% | ||
| Q1 25 | -2.5% | 66.4% | ||
| Q4 24 | -13.1% | 11.8% | ||
| Q3 24 | 8.1% | 28.7% | ||
| Q2 24 | 18.0% | 40.6% | ||
| Q1 24 | 3.5% | 58.3% |
资本支出强度ASHBKNG
| Q4 25 | 3.6% | 1.1% | ||
| Q3 25 | 7.1% | 0.7% | ||
| Q2 25 | 4.3% | 0.9% | ||
| Q1 25 | 4.4% | 2.5% | ||
| Q4 24 | 5.7% | 1.4% | ||
| Q3 24 | 7.3% | 1.0% | ||
| Q2 24 | 5.3% | 2.5% | ||
| Q1 24 | 5.9% | 2.9% |
现金转化率ASHBKNG
| Q4 25 | — | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | — |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
BKNG
| Merchant Revenue | $4.2B | 67% |
| Agency Revenue | $1.8B | 28% |
| Advertisingandotherrevenues | $309.0M | 5% |
