vs
亚朵集团（ATAT）与CHOICE HOTELS INTERNATIONAL INC（CHH）财务数据对比。点击上方公司名可切换其他公司
亚朵集团的季度营收约是CHOICE HOTELS INTERNATIONAL INC的2.0倍（$789.6M vs $390.1M）。亚朵集团净利率更高（17.6% vs 16.3%，领先1.3%）。亚朵集团同比增速更快（252.5% vs 0.1%）。亚朵集团自由现金流更多（$210.7M vs $64.1M）
亚朵生活控股是中国领先的文旅生活服务企业，主营中高端连锁酒店运营业务，面向商旅及休闲出行人群提供高品质住宿服务，同时配套布局生活文创零售、场景体验等多元业务，覆盖国内核心城市及部分海外市场。
凯悦酒店国际集团（Choice Hotels International）是总部位于美国马里兰州北贝塞斯达的跨国酒店集团，为全球规模最大的酒店连锁企业之一，旗下拥有从高端到经济型的多元酒店品牌。截至2024年末，集团在全球46个国家和地区特许经营近7600家酒店，客房总数超65万间。
ATAT vs CHH — 直观对比
营收规模更大
ATAT
是对方的2.0倍
$390.1M
营收增速更快
ATAT
高出252.5%
0.1%
净利率更高
ATAT
高出1.3%
16.3%
自由现金流更多
ATAT
多$146.5M
$64.1M
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $789.6M | $390.1M |
| 净利润 | $139.1M | $63.7M |
| 毛利率 | — | — |
| 营业利润率 | 22.5% | 26.0% |
| 净利率 | 17.6% | 16.3% |
| 营收同比 | 252.5% | 0.1% |
| 净利润同比 | 322.2% | -16.0% |
| 每股收益（稀释后） | $0.33 | $1.35 |
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ATATCHH
| Q4 25 | — | $390.1M | ||
| Q3 25 | $789.6M | $447.3M | ||
| Q2 25 | — | $426.4M | ||
| Q1 25 | — | $332.9M | ||
| Q4 24 | — | $389.8M | ||
| Q3 24 | $224.0M | $428.0M | ||
| Q2 24 | — | $435.2M | ||
| Q1 24 | $203.4M | $331.9M |
净利润ATATCHH
| Q4 25 | — | $63.7M | ||
| Q3 25 | $139.1M | $180.0M | ||
| Q2 25 | — | $81.7M | ||
| Q1 25 | — | $44.5M | ||
| Q4 24 | — | $75.8M | ||
| Q3 24 | $33.0M | $105.7M | ||
| Q2 24 | — | $87.1M | ||
| Q1 24 | $35.6M | $31.0M |
营业利润率ATATCHH
| Q4 25 | — | 26.0% | ||
| Q3 25 | 22.5% | 31.8% | ||
| Q2 25 | — | 29.2% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | 30.6% | ||
| Q3 24 | 14.7% | 35.5% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | 22.1% | 18.1% |
净利率ATATCHH
| Q4 25 | — | 16.3% | ||
| Q3 25 | 17.6% | 40.2% | ||
| Q2 25 | — | 19.2% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 19.4% | ||
| Q3 24 | 14.7% | 24.7% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | 17.5% | 9.3% |
每股收益（稀释后）ATATCHH
| Q4 25 | — | $1.35 | ||
| Q3 25 | $0.33 | $3.86 | ||
| Q2 25 | — | $1.75 | ||
| Q1 25 | — | $0.94 | ||
| Q4 24 | — | $1.56 | ||
| Q3 24 | $0.08 | $2.22 | ||
| Q2 24 | — | $1.80 | ||
| Q1 24 | $0.09 | $0.62 |
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 | $669.2M | $45.0M |
| 总债务越低越好 | — | $1.9B |
| 股东权益账面价值 | $405.0M | $181.2M |
| 总资产 | $1.1B | $2.9B |
| 负债/权益比越低杠杆越低 | — | 10.52× |
8季度趋势，按日历期对齐
现金及短期投资ATATCHH
| Q4 25 | — | $45.0M | ||
| Q3 25 | $669.2M | $52.6M | ||
| Q2 25 | — | $58.6M | ||
| Q1 25 | — | $40.1M | ||
| Q4 24 | — | $40.2M | ||
| Q3 24 | $506.0M | $58.6M | ||
| Q2 24 | — | $60.4M | ||
| Q1 24 | $520.7M | $42.1M |
总债务ATATCHH
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | $277.0K | $1.7B |
股东权益ATATCHH
| Q4 25 | — | $181.2M | ||
| Q3 25 | $405.0M | $149.8M | ||
| Q2 25 | — | $-26.2M | ||
| Q1 25 | — | $-63.9M | ||
| Q4 24 | — | $-45.3M | ||
| Q3 24 | $291.3M | $-96.2M | ||
| Q2 24 | — | $-146.8M | ||
| Q1 24 | $323.5M | $6.7M |
总资产ATATCHH
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.1B | $2.9B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | $927.8M | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | $936.3M | $2.5B |
负债/权益比ATATCHH
| Q4 25 | — | 10.52× | ||
| Q3 25 | — | 12.81× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | 252.00× |
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 | $216.6M | $85.7M |
| 自由现金流经营现金流 - 资本支出 | $210.7M | $64.1M |
| 自由现金流率自由现金流/营收 | 26.7% | 16.4% |
| 资本支出强度资本支出/营收 | 0.8% | 5.5% |
| 现金转化率经营现金流/净利润 | 1.56× | 1.35× |
| 过去12个月自由现金流最近4个季度 | $359.6M | $163.6M |
8季度趋势，按日历期对齐
经营现金流ATATCHH
| Q4 25 | — | $85.7M | ||
| Q3 25 | $216.6M | $68.7M | ||
| Q2 25 | — | $95.6M | ||
| Q1 25 | — | $20.5M | ||
| Q4 24 | — | $82.9M | ||
| Q3 24 | $84.8M | $122.9M | ||
| Q2 24 | — | $111.9M | ||
| Q1 24 | $19.8M | $1.7M |
自由现金流ATATCHH
| Q4 25 | — | $64.1M | ||
| Q3 25 | $210.7M | $49.1M | ||
| Q2 25 | — | $65.4M | ||
| Q1 25 | — | $-15.0M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | $83.3M | $92.6M | ||
| Q2 24 | — | $86.6M | ||
| Q1 24 | $18.1M | $-23.8M |
自由现金流率ATATCHH
| Q4 25 | — | 16.4% | ||
| Q3 25 | 26.7% | 11.0% | ||
| Q2 25 | — | 15.3% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 37.2% | 21.6% | ||
| Q2 24 | — | 19.9% | ||
| Q1 24 | 8.9% | -7.2% |
资本支出强度ATATCHH
| Q4 25 | — | 5.5% | ||
| Q3 25 | 0.8% | 4.4% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 0.7% | 7.1% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | 0.9% | 7.7% |
现金转化率ATATCHH
| Q4 25 | — | 1.35× | ||
| Q3 25 | 1.56× | 0.38× | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | 2.57× | 1.16× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | 0.56× | 0.06× |
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
ATAT
暂无分部数据
CHH
| Franchise And Management Fees | $157.3M | 40% |
| Revenue For Reimbursable Costs From Franchised And Managed Properties | $156.0M | 40% |
| Partnership Services And Fees | $32.5M | 8% |
| Owned Hotels | $30.1M | 8% |
| Other Revenue Topic606And Not Topic606 | $14.3M | 4% |
