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艾利丹尼森（AVY）与诺唯真游轮控股（NCLH）财务数据对比。点击上方公司名可切换其他公司
艾利丹尼森的季度营收约是诺唯真游轮控股的1.0倍（$2.3B vs $2.2B），艾利丹尼森净利率更高（7.3% vs 0.6%，领先6.7%），艾利丹尼森同比增速更快（7.0% vs 6.4%），艾利丹尼森自由现金流更多（$104.4M vs $21.5M），过去两年艾利丹尼森的营收复合增速更高（1.4% vs 1.2%）
艾利丹尼森是总部位于美国俄亥俄州门托市的财富500强跨国企业，专业从事压敏胶材料、服装品牌标签吊牌、RFID嵌体及特种医疗产品的生产与分销，业务覆盖全球多个主要市场。
诺唯真游轮（NCL）1966年创立于挪威，为美国知名游轮运营商，总部设于佛罗里达州迈阿密-戴德县，注册地为巴哈马，由诺唯真游轮控股全资持有。按载客量计算，该品牌为全球第四大游轮公司，2021年占全球游轮市场载客量份额约8.6%。
AVY vs NCLH — 直观对比
营收规模更大
AVY
是对方的1.0倍
$2.2B
营收增速更快
AVY
高出0.6%
6.4%
净利率更高
AVY
高出6.7%
0.6%
自由现金流更多
AVY
多$82.9M
$21.5M
两年增速更快
AVY
近两年复合增速
1.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.3B | $2.2B |
| 净利润 | $168.1M | $14.3M |
| 毛利率 | 28.9% | 41.0% |
| 营业利润率 | 10.7% | 8.3% |
| 净利率 | 7.3% | 0.6% |
| 营收同比 | 7.0% | 6.4% |
| 净利润同比 | 1.1% | -94.4% |
| 每股收益（稀释后） | — | $0.08 |
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AVYNCLH
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $2.2B | $2.5B | ||
| Q1 25 | $2.1B | $2.1B | ||
| Q4 24 | $2.2B | $2.1B | ||
| Q3 24 | $2.2B | $2.8B | ||
| Q2 24 | $2.2B | $2.4B |
净利润AVYNCLH
| Q1 26 | $168.1M | — | ||
| Q4 25 | $166.4M | $14.3M | ||
| Q3 25 | $166.3M | $419.3M | ||
| Q2 25 | $189.0M | $30.0M | ||
| Q1 25 | $166.3M | $-40.3M | ||
| Q4 24 | $174.0M | $254.5M | ||
| Q3 24 | $181.7M | $474.9M | ||
| Q2 24 | $176.8M | $163.4M |
毛利率AVYNCLH
| Q1 26 | 28.9% | — | ||
| Q4 25 | 28.7% | 41.0% | ||
| Q3 25 | 28.7% | 47.1% | ||
| Q2 25 | 28.8% | 42.1% | ||
| Q1 25 | 28.9% | 38.7% | ||
| Q4 24 | 27.9% | 38.0% | ||
| Q3 24 | 28.7% | 45.2% | ||
| Q2 24 | 29.6% | 38.7% |
营业利润率AVYNCLH
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.1% | 8.3% | ||
| Q3 25 | 10.6% | 25.5% | ||
| Q2 25 | 11.5% | 16.8% | ||
| Q1 25 | 10.6% | 9.4% | ||
| Q4 24 | 11.0% | 10.2% | ||
| Q3 24 | 11.0% | 24.6% | ||
| Q2 24 | 10.7% | 14.4% |
净利率AVYNCLH
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.3% | 0.6% | ||
| Q3 25 | 7.5% | 14.3% | ||
| Q2 25 | 8.5% | 1.2% | ||
| Q1 25 | 7.7% | -1.9% | ||
| Q4 24 | 8.0% | 12.1% | ||
| Q3 24 | 8.3% | 16.9% | ||
| Q2 24 | 7.9% | 6.9% |
每股收益（稀释后）AVYNCLH
| Q1 26 | — | — | ||
| Q4 25 | $2.16 | $0.08 | ||
| Q3 25 | $2.13 | $0.86 | ||
| Q2 25 | $2.41 | $0.07 | ||
| Q1 25 | $2.09 | $-0.09 | ||
| Q4 24 | $2.17 | $0.55 | ||
| Q3 24 | $2.25 | $0.95 | ||
| Q2 24 | $2.18 | $0.35 |
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 | $255.1M | $209.9M |
| 总债务越低越好 | $3.2B | $13.7B |
| 股东权益账面价值 | $2.3B | $2.2B |
| 总资产 | $9.0B | $22.5B |
| 负债/权益比越低杠杆越低 | 1.38× | 6.21× |
8季度趋势，按日历期对齐
现金及短期投资AVYNCLH
| Q1 26 | $255.1M | — | ||
| Q4 25 | $202.8M | $209.9M | ||
| Q3 25 | $536.3M | $166.8M | ||
| Q2 25 | $215.9M | $184.0M | ||
| Q1 25 | $195.9M | $184.4M | ||
| Q4 24 | $329.1M | $190.8M | ||
| Q3 24 | $212.7M | $332.5M | ||
| Q2 24 | $208.8M | $594.1M |
总债务AVYNCLH
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $13.7B | ||
| Q3 25 | $3.2B | $13.6B | ||
| Q2 25 | $2.6B | $12.6B | ||
| Q1 25 | $2.6B | $12.9B | ||
| Q4 24 | $2.6B | $11.8B | ||
| Q3 24 | $2.0B | $11.8B | ||
| Q2 24 | $2.0B | $11.9B |
股东权益AVYNCLH
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.2B | $2.2B | ||
| Q3 25 | $2.2B | $2.2B | ||
| Q2 25 | $2.2B | $1.6B | ||
| Q1 25 | $2.2B | $1.4B | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.3B | $693.1M |
总资产AVYNCLH
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.8B | $22.5B | ||
| Q3 25 | $8.9B | $22.2B | ||
| Q2 25 | $8.6B | $21.6B | ||
| Q1 25 | $8.4B | $21.4B | ||
| Q4 24 | $8.4B | $20.0B | ||
| Q3 24 | $8.5B | $19.8B | ||
| Q2 24 | $8.3B | $20.1B |
负债/权益比AVYNCLH
| Q1 26 | 1.38× | — | ||
| Q4 25 | 1.43× | 6.21× | ||
| Q3 25 | 1.45× | 6.22× | ||
| Q2 25 | 1.19× | 8.05× | ||
| Q1 25 | 1.19× | 9.09× | ||
| Q4 24 | 1.11× | 8.26× | ||
| Q3 24 | 0.85× | 10.35× | ||
| Q2 24 | 0.89× | 17.19× |
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 | — | $459.1M |
| 自由现金流经营现金流 - 资本支出 | $104.4M | $21.5M |
| 自由现金流率自由现金流/营收 | 4.5% | 1.0% |
| 资本支出强度资本支出/营收 | — | 19.5% |
| 现金转化率经营现金流/净利润 | — | 32.21× |
| 过去12个月自由现金流最近4个季度 | $869.1M | $-1.2B |
8季度趋势，按日历期对齐
经营现金流AVYNCLH
| Q1 26 | — | — | ||
| Q4 25 | $376.8M | $459.1M | ||
| Q3 25 | $312.1M | $236.6M | ||
| Q2 25 | $208.8M | $714.9M | ||
| Q1 25 | $-16.3M | $679.2M | ||
| Q4 24 | $351.2M | $399.3M | ||
| Q3 24 | $270.1M | $172.5M | ||
| Q2 24 | $197.7M | $670.9M |
自由现金流AVYNCLH
| Q1 26 | $104.4M | — | ||
| Q4 25 | $309.7M | $21.5M | ||
| Q3 25 | $276.2M | $-726.5M | ||
| Q2 25 | $178.8M | $381.2M | ||
| Q1 25 | $-52.3M | $-846.0M | ||
| Q4 24 | $281.7M | $155.8M | ||
| Q3 24 | $227.1M | $-195.5M | ||
| Q2 24 | $150.2M | $330.2M |
自由现金流率AVYNCLH
| Q1 26 | 4.5% | — | ||
| Q4 25 | 13.6% | 1.0% | ||
| Q3 25 | 12.5% | -24.7% | ||
| Q2 25 | 8.1% | 15.1% | ||
| Q1 25 | -2.4% | -39.8% | ||
| Q4 24 | 12.9% | 7.4% | ||
| Q3 24 | 10.4% | -7.0% | ||
| Q2 24 | 6.7% | 13.9% |
资本支出强度AVYNCLH
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 19.5% | ||
| Q3 25 | 1.6% | 32.8% | ||
| Q2 25 | 1.4% | 13.3% | ||
| Q1 25 | 1.7% | 71.7% | ||
| Q4 24 | 3.2% | 11.5% | ||
| Q3 24 | 2.0% | 13.1% | ||
| Q2 24 | 2.1% | 14.4% |
现金转化率AVYNCLH
| Q1 26 | — | — | ||
| Q4 25 | 2.26× | 32.21× | ||
| Q3 25 | 1.88× | 0.56× | ||
| Q2 25 | 1.10× | 23.83× | ||
| Q1 25 | -0.10× | — | ||
| Q4 24 | 2.02× | 1.57× | ||
| Q3 24 | 1.49× | 0.36× | ||
| Q2 24 | 1.12× | 4.10× |
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
AVY
| Materials Group | $1.6B | 72% |
| Solutions Group | $649.2M | 28% |
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
