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Aterian, Inc.（ATER）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Aterian, Inc.的419.6倍（$6.3B vs $15.1M）。缤客控股同比增速更快（16.0% vs -38.5%）。缤客控股自由现金流更多（$1.4B vs $-1.0M）。过去两年缤客控股的营收复合增速更高（19.9% vs -13.5%）
Aterian, Inc.是一家技术驱动的消费品企业，依托人工智能与数据分析挖掘市场需求，开发、采购并销售家居、个护、健康、户外、宠物用品等多品类高性价比商品，主要通过全球主流电商平台销往北美、欧洲等核心市场。
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。
ATER vs BKNG — 直观对比
营收规模更大
BKNG
是对方的419.6倍
$15.1M
营收增速更快
BKNG
高出54.6%
-38.5%
自由现金流更多
BKNG
多$1.4B
$-1.0M
两年增速更快
BKNG
近两年复合增速
-13.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $15.1M | $6.3B |
| 净利润 | $-7.9M | — |
| 毛利率 | 56.1% | — |
| 营业利润率 | -51.1% | 32.0% |
| 净利率 | -52.5% | — |
| 营收同比 | -38.5% | 16.0% |
| 净利润同比 | -512.2% | — |
| 每股收益（稀释后） | — | $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ATERBKNG
| Q4 25 | $15.1M | $6.3B | ||
| Q3 25 | $19.0M | $9.0B | ||
| Q2 25 | $19.5M | $6.8B | ||
| Q1 25 | $15.4M | $4.8B | ||
| Q4 24 | $24.6M | $5.5B | ||
| Q3 24 | $26.2M | $8.0B | ||
| Q2 24 | $28.0M | $5.9B | ||
| Q1 24 | $20.2M | $4.4B |
净利润ATERBKNG
| Q4 25 | $-7.9M | — | ||
| Q3 25 | $-2.3M | — | ||
| Q2 25 | $-4.9M | — | ||
| Q1 25 | $-3.9M | — | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-1.8M | — | ||
| Q2 24 | $-3.6M | — | ||
| Q1 24 | $-5.2M | — |
毛利率ATERBKNG
| Q4 25 | 56.1% | — | ||
| Q3 25 | 56.1% | — | ||
| Q2 25 | 54.3% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 63.4% | — | ||
| Q3 24 | 60.3% | — | ||
| Q2 24 | 60.4% | — | ||
| Q1 24 | 65.1% | — |
营业利润率ATERBKNG
| Q4 25 | -51.1% | 32.0% | ||
| Q3 25 | -10.7% | 38.7% | ||
| Q2 25 | -23.1% | 33.1% | ||
| Q1 25 | -24.1% | 22.3% | ||
| Q4 24 | -6.5% | 31.6% | ||
| Q3 24 | -6.6% | 39.8% | ||
| Q2 24 | -11.5% | 31.7% | ||
| Q1 24 | -26.1% | 17.9% |
净利率ATERBKNG
| Q4 25 | -52.5% | — | ||
| Q3 25 | -12.0% | — | ||
| Q2 25 | -25.0% | — | ||
| Q1 25 | -25.4% | — | ||
| Q4 24 | -5.3% | — | ||
| Q3 24 | -6.8% | — | ||
| Q2 24 | -13.0% | — | ||
| Q1 24 | -25.5% | — |
每股收益（稀释后）ATERBKNG
| Q4 25 | — | $43.66 | ||
| Q3 25 | — | $84.41 | ||
| Q2 25 | — | $27.43 | ||
| Q1 25 | — | $10.07 | ||
| Q4 24 | — | $31.60 | ||
| Q3 24 | — | $74.34 | ||
| Q2 24 | — | $44.38 | ||
| Q1 24 | — | $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 | $4.9M | $17.2B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $15.2M | $-5.6B |
| 总资产 | $29.6M | $29.3B |
| 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ATERBKNG
| Q4 25 | $4.9M | $17.2B | ||
| Q3 25 | $7.6M | $16.5B | ||
| Q2 25 | $10.5M | $17.6B | ||
| Q1 25 | $14.3M | $15.6B | ||
| Q4 24 | $18.0M | $16.2B | ||
| Q3 24 | $16.1M | $15.8B | ||
| Q2 24 | $20.3M | $16.3B | ||
| Q1 24 | $17.5M | $16.0B |
总债务ATERBKNG
| Q4 25 | — | $18.7B | ||
| Q3 25 | — | $17.0B | ||
| Q2 25 | — | $18.5B | ||
| Q1 25 | — | $16.0B | ||
| Q4 24 | — | $16.6B | ||
| Q3 24 | — | $16.2B | ||
| Q2 24 | — | $16.8B | ||
| Q1 24 | — | $16.9B |
股东权益ATERBKNG
| Q4 25 | $15.2M | $-5.6B | ||
| Q3 25 | $22.6M | $-4.7B | ||
| Q2 25 | $24.3M | $-6.7B | ||
| Q1 25 | $27.0M | $-6.1B | ||
| Q4 24 | $30.0M | $-4.0B | ||
| Q3 24 | $30.6M | $-3.7B | ||
| Q2 24 | $30.9M | $-4.3B | ||
| Q1 24 | $33.0M | $-4.1B |
总资产ATERBKNG
| Q4 25 | $29.6M | $29.3B | ||
| Q3 25 | $40.1M | $28.8B | ||
| Q2 25 | $45.4M | $30.7B | ||
| Q1 25 | $49.8M | $27.2B | ||
| Q4 24 | $49.5M | $27.7B | ||
| Q3 24 | $52.1M | $28.0B | ||
| Q2 24 | $59.9M | $28.5B | ||
| Q1 24 | $55.7M | $27.7B |
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 | $-1.0M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | $1.4B |
| 自由现金流率自由现金流/营收 | -6.9% | 22.3% |
| 资本支出强度资本支出/营收 | 0.0% | 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 | — | $9.1B |
8季度趋势，按日历期对齐
经营现金流ATERBKNG
| Q4 25 | $-1.0M | $1.5B | ||
| Q3 25 | $-1.6M | $1.4B | ||
| Q2 25 | $-4.4M | $3.2B | ||
| Q1 25 | $-3.9M | $3.3B | ||
| Q4 24 | $-9.0K | $721.0M | ||
| Q3 24 | $-722.0K | $2.4B | ||
| Q2 24 | $2.9M | $2.5B | ||
| Q1 24 | $-6.0K | $2.7B |
自由现金流ATERBKNG
| Q4 25 | $-1.0M | $1.4B | ||
| Q3 25 | $-1.6M | $1.4B | ||
| Q2 25 | $-4.4M | $3.1B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $645.0M | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | $2.9M | $2.4B | ||
| Q1 24 | $-42.0K | $2.6B |
自由现金流率ATERBKNG
| Q4 25 | -6.9% | 22.3% | ||
| Q3 25 | -8.4% | 15.2% | ||
| Q2 25 | -22.7% | 46.1% | ||
| Q1 25 | — | 66.4% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | 10.3% | 40.6% | ||
| Q1 24 | -0.2% | 58.3% |
资本支出强度ATERBKNG
| Q4 25 | 0.0% | 1.1% | ||
| Q3 25 | 0.2% | 0.7% | ||
| Q2 25 | 0.0% | 0.9% | ||
| Q1 25 | 0.0% | 2.5% | ||
| Q4 24 | 0.0% | 1.4% | ||
| Q3 24 | 0.0% | 1.0% | ||
| Q2 24 | 0.0% | 2.5% | ||
| Q1 24 | 0.2% | 2.9% |
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
ATER
| Sales Channel Directly To Consumer | $13.1M | 87% |
| Heating Cooling And Air Quality | $2.1M | 14% |
BKNG
| Merchant Revenue | $4.2B | 67% |
| Agency Revenue | $1.8B | 28% |
| Advertisingandotherrevenues | $309.0M | 5% |
