vs
Bally's Corp（BALY）与凯悦酒店集团（H）财务数据对比。点击上方公司名可切换其他公司
凯悦酒店集团的季度营收约是Bally's Corp的2.4倍（$1.8B vs $746.2M）。凯悦酒店集团净利率更高（-1.1% vs -47.3%，领先46.2%）。Bally's Corp同比增速更快（28.6% vs 11.7%）。过去两年Bally's Corp的营收复合增速更高（9.8% vs 2.2%）
巴利公司是总部位于美国罗德岛州普罗维登斯的博彩、体育投注与互动娱乐企业。目前该公司在美国11个州运营19家赌场，在科罗拉多州拥有一座赛马场，在纽约州拥有一座高尔夫球场，同时在全美14个州开展线上体育投注业务，还通过子公司在澳大利亚两个州运营两处产业。
凯悦酒店集团是来自美国的跨国酒店管理企业，总部位于芝加哥河畔广场区域，由普利兹克家族运营管理。集团主营高端及商务酒店、度假村、度假物业的管理与特许经营业务，目前在全球69个国家拥有逾1350家酒店及一价全包物业，覆盖六大洲。
BALY vs H — 直观对比
营收规模更大
H
是对方的2.4倍
$746.2M
营收增速更快
BALY
高出16.9%
11.7%
净利率更高
H
高出46.2%
-47.3%
两年增速更快
BALY
近两年复合增速
2.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $746.2M | $1.8B |
| 净利润 | $-353.2M | $-20.0M |
| 毛利率 | — | — |
| 营业利润率 | -36.8% | 0.4% |
| 净利率 | -47.3% | -1.1% |
| 营收同比 | 28.6% | 11.7% |
| 净利润同比 | -311.8% | 64.3% |
| 每股收益（稀释后） | $-5.84 | $-0.20 |
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BALYH
| Q4 25 | $746.2M | $1.8B | ||
| Q3 25 | $663.7M | $1.8B | ||
| Q2 25 | $657.5M | $1.8B | ||
| Q1 25 | $368.7M | $1.7B | ||
| Q4 24 | $580.4M | $1.6B | ||
| Q3 24 | $630.0M | $1.6B | ||
| Q2 24 | $621.7M | $1.7B | ||
| Q1 24 | $618.5M | $1.7B |
净利润BALYH
| Q4 25 | $-353.2M | $-20.0M | ||
| Q3 25 | $-102.9M | $-49.0M | ||
| Q2 25 | $-228.4M | $-3.0M | ||
| Q1 25 | $34.5M | $20.0M | ||
| Q4 24 | $-85.8M | $-56.0M | ||
| Q3 24 | $-247.9M | $471.0M | ||
| Q2 24 | $-60.2M | $359.0M | ||
| Q1 24 | $-173.9M | $522.0M |
营业利润率BALYH
| Q4 25 | -36.8% | 0.4% | ||
| Q3 25 | 0.1% | -1.0% | ||
| Q2 25 | -0.4% | 2.1% | ||
| Q1 25 | -0.5% | 3.0% | ||
| Q4 24 | -5.6% | -3.0% | ||
| Q3 24 | -25.0% | 37.3% | ||
| Q2 24 | 0.9% | 27.1% | ||
| Q1 24 | -12.0% | 31.6% |
净利率BALYH
| Q4 25 | -47.3% | -1.1% | ||
| Q3 25 | -15.5% | -2.7% | ||
| Q2 25 | -34.7% | -0.2% | ||
| Q1 25 | 9.4% | 1.2% | ||
| Q4 24 | -14.8% | -3.5% | ||
| Q3 24 | -39.3% | 28.9% | ||
| Q2 24 | -9.7% | 21.1% | ||
| Q1 24 | -28.1% | 30.5% |
每股收益（稀释后）BALYH
| Q4 25 | $-5.84 | $-0.20 | ||
| Q3 25 | $-1.70 | $-0.51 | ||
| Q2 25 | $-3.76 | $-0.03 | ||
| Q1 25 | $0.57 | $0.19 | ||
| Q4 24 | $-1.76 | $-0.37 | ||
| Q3 24 | $-5.10 | $4.63 | ||
| Q2 24 | $-1.24 | $3.46 | ||
| Q1 24 | $-3.61 | $4.93 |
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 | $798.4M | $813.0M |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $994.7M | $3.3B |
| 总资产 | $11.2B | $14.0B |
| 负债/权益比越低杠杆越低 | 4.52× | — |
8季度趋势，按日历期对齐
现金及短期投资BALYH
| Q4 25 | $798.4M | $813.0M | ||
| Q3 25 | $160.7M | $749.0M | ||
| Q2 25 | $174.6M | $912.0M | ||
| Q1 25 | $209.7M | $1.8B | ||
| Q4 24 | $171.2M | $1.4B | ||
| Q3 24 | $191.0M | $1.1B | ||
| Q2 24 | $154.7M | $2.0B | ||
| Q1 24 | $169.4M | $794.0M |
总债务BALYH
| Q4 25 | $4.5B | — | ||
| Q3 25 | $3.7B | $6.0B | ||
| Q2 25 | $3.6B | $6.0B | ||
| Q1 25 | $3.5B | $4.3B | ||
| Q4 24 | $3.3B | $3.8B | ||
| Q3 24 | $3.7B | $3.1B | ||
| Q2 24 | $3.7B | $3.9B | ||
| Q1 24 | $3.7B | $3.1B |
股东权益BALYH
| Q4 25 | $994.7M | $3.3B | ||
| Q3 25 | $521.5M | $3.5B | ||
| Q2 25 | $630.1M | $3.6B | ||
| Q1 25 | $796.5M | $3.5B | ||
| Q4 24 | $30.9M | $3.5B | ||
| Q3 24 | $233.4M | $3.7B | ||
| Q2 24 | $393.1M | $3.9B | ||
| Q1 24 | $449.4M | $3.7B |
总资产BALYH
| Q4 25 | $11.2B | $14.0B | ||
| Q3 25 | $7.6B | $15.7B | ||
| Q2 25 | $7.8B | $15.9B | ||
| Q1 25 | $7.5B | $14.0B | ||
| Q4 24 | $5.9B | $13.3B | ||
| Q3 24 | $6.4B | $11.9B | ||
| Q2 24 | $6.6B | $12.8B | ||
| Q1 24 | $6.6B | $11.7B |
负债/权益比BALYH
| Q4 25 | 4.52× | — | ||
| Q3 25 | 7.17× | 1.73× | ||
| Q2 25 | 5.68× | 1.69× | ||
| Q1 25 | 4.33× | 1.25× | ||
| Q4 24 | 107.40× | 1.07× | ||
| Q3 24 | 15.73× | 0.85× | ||
| Q2 24 | 9.34× | 1.01× | ||
| Q1 24 | 8.19× | 0.84× |
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 | — | $313.0M |
| 自由现金流经营现金流 - 资本支出 | — | $236.0M |
| 自由现金流率自由现金流/营收 | — | 13.2% |
| 资本支出强度资本支出/营收 | 5.1% | 4.3% |
| 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 | — | $159.0M |
8季度趋势，按日历期对齐
经营现金流BALYH
| Q4 25 | — | $313.0M | ||
| Q3 25 | $-88.6M | $-20.0M | ||
| Q2 25 | — | $-67.0M | ||
| Q1 25 | $42.0M | $153.0M | ||
| Q4 24 | $37.8M | $235.0M | ||
| Q3 24 | $36.5M | $-21.0M | ||
| Q2 24 | $47.6M | $177.0M | ||
| Q1 24 | $-7.9M | $242.0M |
自由现金流BALYH
| Q4 25 | — | $236.0M | ||
| Q3 25 | $-139.3M | $-89.0M | ||
| Q2 25 | — | $-111.0M | ||
| Q1 25 | $11.5M | $123.0M | ||
| Q4 24 | $-5.9M | $184.0M | ||
| Q3 24 | $-55.8M | $-64.0M | ||
| Q2 24 | $11.8M | $135.0M | ||
| Q1 24 | $-35.9M | $208.0M |
自由现金流率BALYH
| Q4 25 | — | 13.2% | ||
| Q3 25 | -21.0% | -5.0% | ||
| Q2 25 | — | -6.1% | ||
| Q1 25 | 3.1% | 7.2% | ||
| Q4 24 | -1.0% | 11.5% | ||
| Q3 24 | -8.9% | -3.9% | ||
| Q2 24 | 1.9% | 7.9% | ||
| Q1 24 | -5.8% | 12.1% |
资本支出强度BALYH
| Q4 25 | 5.1% | 4.3% | ||
| Q3 25 | 7.6% | 3.9% | ||
| Q2 25 | 7.4% | 2.4% | ||
| Q1 25 | 8.3% | 1.7% | ||
| Q4 24 | 7.5% | 3.2% | ||
| Q3 24 | 14.7% | 2.6% | ||
| Q2 24 | 5.7% | 2.5% | ||
| Q1 24 | 4.5% | 2.0% |
现金转化率BALYH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.22× | 7.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.04× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.46× |
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
BALY
| Casinos Resorts | $366.2M | 49% |
| Non Casino | $172.7M | 23% |
| Food And Beverage | $74.6M | 10% |
| Hotel | $69.9M | 9% |
| North America Interactive | $62.3M | 8% |
| Loyalty Programs | $6.7M | 1% |
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
