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阿普塔集团（ATR）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
阿普塔集团的季度营收约是Ryman Hospitality Properties, Inc.的1.3倍（$962.7M vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs 7.7%，领先2.4%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 13.5%），阿普塔集团自由现金流更多（$96.9M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 2.6%）
阿普塔集团（AptarGroup, Inc.）是总部位于美国的全球性制造企业，主营消费品分配包装产品及药物给药装置的研发与生产，目前在全球18个国家设有生产运营基地，服务医药、快消等多领域客户。
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。
ATR vs RHP — 直观对比
营收规模更大
ATR
是对方的1.3倍
$737.8M
营收增速更快
RHP
高出0.4%
13.5%
净利率更高
RHP
高出2.4%
7.7%
自由现金流更多
ATR
多$38.3M
$58.5M
两年增速更快
RHP
近两年复合增速
2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $962.7M | $737.8M |
| 净利润 | $74.3M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 11.0% | 19.4% |
| 净利率 | 7.7% | 10.1% |
| 营收同比 | 13.5% | 13.9% |
| 净利润同比 | -26.4% | 3.0% |
| 每股收益（稀释后） | $1.13 | $1.12 |
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ATRRHP
| Q4 25 | $962.7M | $737.8M | ||
| Q3 25 | $961.1M | $592.5M | ||
| Q2 25 | $966.0M | $659.5M | ||
| Q1 25 | $887.3M | $587.3M | ||
| Q4 24 | $848.1M | $647.6M | ||
| Q3 24 | $909.3M | $550.0M | ||
| Q2 24 | $910.1M | $613.3M | ||
| Q1 24 | $915.4M | $528.3M |
净利润ATRRHP
| Q4 25 | $74.3M | $74.5M | ||
| Q3 25 | $127.9M | $34.9M | ||
| Q2 25 | $111.7M | $71.8M | ||
| Q1 25 | $78.8M | $63.0M | ||
| Q4 24 | $100.9M | $72.3M | ||
| Q3 24 | $100.0M | $59.0M | ||
| Q2 24 | $90.5M | $100.8M | ||
| Q1 24 | $83.1M | $42.8M |
毛利率ATRRHP
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 41.5% |
营业利润率ATRRHP
| Q4 25 | 11.0% | 19.4% | ||
| Q3 25 | 14.2% | 15.0% | ||
| Q2 25 | 14.9% | 21.1% | ||
| Q1 25 | 12.8% | 19.8% | ||
| Q4 24 | 14.2% | 18.6% | ||
| Q3 24 | 15.2% | 19.3% | ||
| Q2 24 | 13.8% | 27.4% | ||
| Q1 24 | 12.2% | 18.2% |
净利率ATRRHP
| Q4 25 | 7.7% | 10.1% | ||
| Q3 25 | 13.3% | 5.9% | ||
| Q2 25 | 11.6% | 10.9% | ||
| Q1 25 | 8.9% | 10.7% | ||
| Q4 24 | 11.9% | 11.2% | ||
| Q3 24 | 11.0% | 10.7% | ||
| Q2 24 | 9.9% | 16.4% | ||
| Q1 24 | 9.1% | 8.1% |
每股收益（稀释后）ATRRHP
| Q4 25 | $1.13 | $1.12 | ||
| Q3 25 | $1.92 | $0.53 | ||
| Q2 25 | $1.67 | $1.12 | ||
| Q1 25 | $1.17 | $1.00 | ||
| Q4 24 | $1.48 | $1.12 | ||
| Q3 24 | $1.48 | $0.94 | ||
| Q2 24 | $1.34 | $1.65 | ||
| Q1 24 | $1.23 | $0.67 |
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 | $409.5M | $471.4M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $2.7B | $750.2M |
| 总资产 | $5.3B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资ATRRHP
| Q4 25 | $409.5M | $471.4M | ||
| Q3 25 | $264.8M | $483.3M | ||
| Q2 25 | $169.8M | $420.6M | ||
| Q1 25 | $136.8M | $413.9M | ||
| Q4 24 | $226.2M | $477.7M | ||
| Q3 24 | $327.9M | $534.9M | ||
| Q2 24 | $223.9M | $498.4M | ||
| Q1 24 | $201.1M | $465.3M |
总债务ATRRHP
| Q4 25 | $1.1B | — | ||
| Q3 25 | $546.0M | — | ||
| Q2 25 | $535.1M | — | ||
| Q1 25 | $561.2M | — | ||
| Q4 24 | $688.1M | — | ||
| Q3 24 | $822.7M | — | ||
| Q2 24 | $681.5M | — | ||
| Q1 24 | $680.4M | — |
股东权益ATRRHP
| Q4 25 | $2.7B | $750.2M | ||
| Q3 25 | $2.8B | $758.5M | ||
| Q2 25 | $2.7B | $800.4M | ||
| Q1 25 | $2.5B | $531.5M | ||
| Q4 24 | $2.5B | $549.0M | ||
| Q3 24 | $2.5B | $551.9M | ||
| Q2 24 | $2.4B | $562.6M | ||
| Q1 24 | $2.3B | $529.9M |
总资产ATRRHP
| Q4 25 | $5.3B | $6.2B | ||
| Q3 25 | $5.1B | $6.2B | ||
| Q2 25 | $4.9B | $6.1B | ||
| Q1 25 | $4.5B | $5.2B | ||
| Q4 24 | $4.4B | $5.2B | ||
| Q3 24 | $4.6B | $5.2B | ||
| Q2 24 | $4.5B | $5.1B | ||
| Q1 24 | $4.4B | $5.1B |
负债/权益比ATRRHP
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.28× | — | ||
| Q1 24 | 0.29× | — |
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 | $183.7M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $96.9M | $58.5M |
| 自由现金流率自由现金流/营收 | 10.1% | 7.9% |
| 资本支出强度资本支出/营收 | 9.0% | 14.4% |
| 现金转化率经营现金流/净利润 | 2.47× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $299.6M | $232.4M |
8季度趋势，按日历期对齐
经营现金流ATRRHP
| Q4 25 | $183.7M | $164.7M | ||
| Q3 25 | $177.6M | $205.2M | ||
| Q2 25 | $126.0M | $122.5M | ||
| Q1 25 | $82.7M | $98.2M | ||
| Q4 24 | $178.2M | $166.6M | ||
| Q3 24 | $229.3M | $218.1M | ||
| Q2 24 | $143.6M | $184.3M | ||
| Q1 24 | $92.3M | $7.5M |
自由现金流ATRRHP
| Q4 25 | $96.9M | $58.5M | ||
| Q3 25 | $114.3M | $135.4M | ||
| Q2 25 | $62.5M | $53.0M | ||
| Q1 25 | $25.9M | $-14.5M | ||
| Q4 24 | $112.2M | $76.0M | ||
| Q3 24 | $162.7M | $85.7M | ||
| Q2 24 | $75.4M | $78.8M | ||
| Q1 24 | $16.7M | $-72.0M |
自由现金流率ATRRHP
| Q4 25 | 10.1% | 7.9% | ||
| Q3 25 | 11.9% | 22.9% | ||
| Q2 25 | 6.5% | 8.0% | ||
| Q1 25 | 2.9% | -2.5% | ||
| Q4 24 | 13.2% | 11.7% | ||
| Q3 24 | 17.9% | 15.6% | ||
| Q2 24 | 8.3% | 12.9% | ||
| Q1 24 | 1.8% | -13.6% |
资本支出强度ATRRHP
| Q4 25 | 9.0% | 14.4% | ||
| Q3 25 | 6.6% | 11.8% | ||
| Q2 25 | 6.6% | 10.5% | ||
| Q1 25 | 6.4% | 19.2% | ||
| Q4 24 | 7.8% | 14.0% | ||
| Q3 24 | 7.3% | 24.1% | ||
| Q2 24 | 7.5% | 17.2% | ||
| Q1 24 | 8.3% | 15.0% |
现金转化率ATRRHP
| Q4 25 | 2.47× | 2.21× | ||
| Q3 25 | 1.39× | 5.88× | ||
| Q2 25 | 1.13× | 1.71× | ||
| Q1 25 | 1.05× | 1.56× | ||
| Q4 24 | 1.77× | 2.30× | ||
| Q3 24 | 2.29× | 3.70× | ||
| Q2 24 | 1.59× | 1.83× | ||
| Q1 24 | 1.11× | 0.17× |
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
ATR
| Pharma Segment | $833.1M | 87% |
| Other | $129.6M | 13% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
