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安富利（AVT）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安富利的1.0倍（$6.3B vs $6.3B），缤客控股同比增速更快（16.0% vs 11.6%），缤客控股自由现金流更多（$1.4B vs $192.9M），过去两年缤客控股的营收复合增速更高（19.9% vs 5.7%）
安富利是全球知名的电子元器件分销商，总部位于美国亚利桑那州凤凰城，由查尔斯·安富利于1921年创立，最初起步于曼哈顿无线电街。1955年公司正式注册成立，1961年在纽约证券交易所上市，2018年5月8日转至纳斯达克挂牌交易，股票代码仍为AVT。
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。
AVT vs BKNG — 直观对比
营收规模更大
BKNG
是对方的1.0倍
$6.3B
营收增速更快
BKNG
高出4.5%
11.6%
自由现金流更多
BKNG
多$1.2B
$192.9M
两年增速更快
BKNG
近两年复合增速
5.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $6.3B |
| 净利润 | $61.7M | — |
| 毛利率 | 10.5% | — |
| 营业利润率 | 2.3% | 32.0% |
| 净利率 | 1.0% | — |
| 营收同比 | 11.6% | 16.0% |
| 净利润同比 | -29.2% | — |
| 每股收益（稀释后） | $0.75 | $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AVTBKNG
| Q4 25 | $6.3B | $6.3B | ||
| Q3 25 | $5.9B | $9.0B | ||
| Q2 25 | $5.6B | $6.8B | ||
| Q1 25 | $5.3B | $4.8B | ||
| Q4 24 | $5.7B | $5.5B | ||
| Q3 24 | $5.6B | $8.0B | ||
| Q2 24 | $5.6B | $5.9B | ||
| Q1 24 | $5.7B | $4.4B |
净利润AVTBKNG
| Q4 25 | $61.7M | — | ||
| Q3 25 | $51.7M | — | ||
| Q2 25 | $6.1M | — | ||
| Q1 25 | $87.9M | — | ||
| Q4 24 | $87.3M | — | ||
| Q3 24 | $59.0M | — | ||
| Q2 24 | $82.7M | — | ||
| Q1 24 | $88.8M | — |
毛利率AVTBKNG
| Q4 25 | 10.5% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 10.6% | — | ||
| Q1 25 | 11.1% | — | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 11.6% | — | ||
| Q1 24 | 11.8% | — |
营业利润率AVTBKNG
| Q4 25 | 2.3% | 32.0% | ||
| Q3 25 | 2.4% | 38.7% | ||
| Q2 25 | 1.3% | 33.1% | ||
| Q1 25 | 2.7% | 22.3% | ||
| Q4 24 | 2.7% | 31.6% | ||
| Q3 24 | 2.5% | 39.8% | ||
| Q2 24 | 3.0% | 31.7% | ||
| Q1 24 | 3.4% | 17.9% |
净利率AVTBKNG
| Q4 25 | 1.0% | — | ||
| Q3 25 | 0.9% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.6% | — |
每股收益（稀释后）AVTBKNG
| Q4 25 | $0.75 | $43.66 | ||
| Q3 25 | $0.61 | $84.41 | ||
| Q2 25 | $0.09 | $27.43 | ||
| Q1 25 | $1.01 | $10.07 | ||
| Q4 24 | $0.99 | $31.60 | ||
| Q3 24 | $0.66 | $74.34 | ||
| Q2 24 | $0.93 | $44.38 | ||
| Q1 24 | $0.97 | $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 | $286.5M | $17.2B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $4.9B | $-5.6B |
| 总资产 | $13.2B | $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AVTBKNG
| Q4 25 | $286.5M | $17.2B | ||
| Q3 25 | $175.5M | $16.5B | ||
| Q2 25 | $192.4M | $17.6B | ||
| Q1 25 | $188.9M | $15.6B | ||
| Q4 24 | $172.1M | $16.2B | ||
| Q3 24 | $267.5M | $15.8B | ||
| Q2 24 | $310.9M | $16.3B | ||
| Q1 24 | $218.5M | $16.0B |
总债务AVTBKNG
| 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AVTBKNG
| Q4 25 | $4.9B | $-5.6B | ||
| Q3 25 | $4.8B | $-4.7B | ||
| Q2 25 | $5.0B | $-6.7B | ||
| Q1 25 | $4.9B | $-6.1B | ||
| Q4 24 | $4.8B | $-4.0B | ||
| Q3 24 | $5.0B | $-3.7B | ||
| Q2 24 | $4.9B | $-4.3B | ||
| Q1 24 | $5.0B | $-4.1B |
总资产AVTBKNG
| Q4 25 | $13.2B | $29.3B | ||
| Q3 25 | $12.4B | $28.8B | ||
| Q2 25 | $12.1B | $30.7B | ||
| Q1 25 | $11.7B | $27.2B | ||
| Q4 24 | $11.9B | $27.7B | ||
| Q3 24 | $12.6B | $28.0B | ||
| Q2 24 | $12.2B | $28.5B | ||
| Q1 24 | $12.3B | $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 | $208.2M | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $192.9M | $1.4B |
| 自由现金流率自由现金流/营收 | 3.1% | 22.3% |
| 资本支出强度资本支出/营收 | 0.2% | 1.1% |
| 现金转化率经营现金流/净利润 | 3.37× | — |
| 过去12个月自由现金流最近4个季度 | $217.7M | $9.1B |
8季度趋势，按日历期对齐
经营现金流AVTBKNG
| Q4 25 | $208.2M | $1.5B | ||
| Q3 25 | $-144.6M | $1.4B | ||
| Q2 25 | $139.5M | $3.2B | ||
| Q1 25 | $140.9M | $3.3B | ||
| Q4 24 | $337.8M | $721.0M | ||
| Q3 24 | $106.3M | $2.4B | ||
| Q2 24 | $274.3M | $2.5B | ||
| Q1 24 | $499.3M | $2.7B |
自由现金流AVTBKNG
| Q4 25 | $192.9M | $1.4B | ||
| Q3 25 | $-169.2M | $1.4B | ||
| Q2 25 | $79.9M | $3.1B | ||
| Q1 25 | $114.1M | $3.2B | ||
| Q4 24 | $308.5M | $645.0M | ||
| Q3 24 | $74.5M | $2.3B | ||
| Q2 24 | $248.0M | $2.4B | ||
| Q1 24 | $457.2M | $2.6B |
自由现金流率AVTBKNG
| Q4 25 | 3.1% | 22.3% | ||
| Q3 25 | -2.9% | 15.2% | ||
| Q2 25 | 1.4% | 46.1% | ||
| Q1 25 | 2.1% | 66.4% | ||
| Q4 24 | 5.4% | 11.8% | ||
| Q3 24 | 1.3% | 28.7% | ||
| Q2 24 | 4.5% | 40.6% | ||
| Q1 24 | 8.1% | 58.3% |
资本支出强度AVTBKNG
| Q4 25 | 0.2% | 1.1% | ||
| Q3 25 | 0.4% | 0.7% | ||
| Q2 25 | 1.1% | 0.9% | ||
| Q1 25 | 0.5% | 2.5% | ||
| Q4 24 | 0.5% | 1.4% | ||
| Q3 24 | 0.6% | 1.0% | ||
| Q2 24 | 0.5% | 2.5% | ||
| Q1 24 | 0.7% | 2.9% |
现金转化率AVTBKNG
| Q4 25 | 3.37× | — | ||
| Q3 25 | -2.79× | — | ||
| Q2 25 | 22.91× | — | ||
| Q1 25 | 1.60× | — | ||
| Q4 24 | 3.87× | — | ||
| Q3 24 | 1.80× | — | ||
| Q2 24 | 3.32× | — | ||
| Q1 24 | 5.62× | — |
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
AVT
| Electronic Components | $5.9B | 93% |
| Premier Farnell | $427.1M | 7% |
BKNG
| Merchant Revenue | $4.2B | 67% |
| Agency Revenue | $1.8B | 28% |
| Advertisingandotherrevenues | $309.0M | 5% |
