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BILL Holdings, Inc.（BILL）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
Ryman Hospitality Properties, Inc.的季度营收约是BILL Holdings, Inc.的1.8倍（$737.8M vs $414.7M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -0.6%，领先10.7%），BILL Holdings, Inc.同比增速更快（14.4% vs 13.9%），BILL Holdings, Inc.自由现金流更多（$103.8M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 13.3%）
BILL Holdings, Inc. 是总部位于美国加利福尼亚州圣何塞的企业，专注为美国小型企业提供自动化云原生财务运营软件。旗下Bill.com Connect是白标端到端支付自动化平台，可供金融机构接入其单点登录的线上企业银行生态中使用。
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。
BILL vs RHP — 直观对比
营收规模更大
RHP
是对方的1.8倍
$414.7M
营收增速更快
BILL
高出0.5%
13.9%
净利率更高
RHP
高出10.7%
-0.6%
自由现金流更多
BILL
多$45.3M
$58.5M
两年增速更快
RHP
近两年复合增速
13.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $414.7M | $737.8M |
| 净利润 | $-2.6M | $74.5M |
| 毛利率 | 79.8% | 41.4% |
| 营业利润率 | -4.4% | 19.4% |
| 净利率 | -0.6% | 10.1% |
| 营收同比 | 14.4% | 13.9% |
| 净利润同比 | -107.7% | 3.0% |
| 每股收益（稀释后） | $-0.03 | $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BILLRHP
| Q4 25 | $414.7M | $737.8M | ||
| Q3 25 | $395.7M | $592.5M | ||
| Q2 25 | $383.3M | $659.5M | ||
| Q1 25 | $358.2M | $587.3M | ||
| Q4 24 | $362.6M | $647.6M | ||
| Q3 24 | $358.4M | $550.0M | ||
| Q2 24 | $343.7M | $613.3M | ||
| Q1 24 | $323.0M | $528.3M |
净利润BILLRHP
| Q4 25 | $-2.6M | $74.5M | ||
| Q3 25 | $-3.0M | $34.9M | ||
| Q2 25 | $-7.1M | $71.8M | ||
| Q1 25 | $-11.6M | $63.0M | ||
| Q4 24 | $33.5M | $72.3M | ||
| Q3 24 | $8.9M | $59.0M | ||
| Q2 24 | $7.6M | $100.8M | ||
| Q1 24 | $31.8M | $42.8M |
毛利率BILLRHP
| Q4 25 | 79.8% | 41.4% | ||
| Q3 25 | 80.5% | 40.9% | ||
| Q2 25 | 80.8% | 49.7% | ||
| Q1 25 | 81.2% | 44.4% | ||
| Q4 24 | 81.6% | 40.4% | ||
| Q3 24 | 82.0% | 43.1% | ||
| Q2 24 | 81.0% | 48.4% | ||
| Q1 24 | 83.0% | 41.5% |
营业利润率BILLRHP
| Q4 25 | -4.4% | 19.4% | ||
| Q3 25 | -5.2% | 15.0% | ||
| Q2 25 | -5.8% | 21.1% | ||
| Q1 25 | -8.1% | 19.8% | ||
| Q4 24 | -6.0% | 18.6% | ||
| Q3 24 | -2.1% | 19.3% | ||
| Q2 24 | -6.5% | 27.4% | ||
| Q1 24 | -8.6% | 18.2% |
净利率BILLRHP
| Q4 25 | -0.6% | 10.1% | ||
| Q3 25 | -0.7% | 5.9% | ||
| Q2 25 | -1.8% | 10.9% | ||
| Q1 25 | -3.2% | 10.7% | ||
| Q4 24 | 9.3% | 11.2% | ||
| Q3 24 | 2.5% | 10.7% | ||
| Q2 24 | 2.2% | 16.4% | ||
| Q1 24 | 9.8% | 8.1% |
每股收益（稀释后）BILLRHP
| Q4 25 | $-0.03 | $1.12 | ||
| Q3 25 | $-0.03 | $0.53 | ||
| Q2 25 | $0.02 | $1.12 | ||
| Q1 25 | $-0.11 | $1.00 | ||
| Q4 24 | $-0.06 | $1.12 | ||
| Q3 24 | $0.08 | $0.94 | ||
| Q2 24 | $0.37 | $1.65 | ||
| Q1 24 | $0.00 | $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 | $1.1B | $471.4M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.8B | $750.2M |
| 总资产 | $10.1B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.48× | — |
8季度趋势，按日历期对齐
现金及短期投资BILLRHP
| Q4 25 | $1.1B | $471.4M | ||
| Q3 25 | $1.1B | $483.3M | ||
| Q2 25 | $1.0B | $420.6M | ||
| Q1 25 | $1.0B | $413.9M | ||
| Q4 24 | $1.6B | $477.7M | ||
| Q3 24 | $853.5M | $534.9M | ||
| Q2 24 | $985.9M | $498.4M | ||
| Q1 24 | $952.5M | $465.3M |
总债务BILLRHP
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $914.8M | — | ||
| Q2 24 | $914.0M | — | ||
| Q1 24 | $1.1B | — |
股东权益BILLRHP
| Q4 25 | $3.8B | $750.2M | ||
| Q3 25 | $3.9B | $758.5M | ||
| Q2 25 | $3.9B | $800.4M | ||
| Q1 25 | $3.9B | $531.5M | ||
| Q4 24 | $3.8B | $549.0M | ||
| Q3 24 | $4.0B | $551.9M | ||
| Q2 24 | $4.1B | $562.6M | ||
| Q1 24 | $4.1B | $529.9M |
总资产BILLRHP
| Q4 25 | $10.1B | $6.2B | ||
| Q3 25 | $10.2B | $6.2B | ||
| Q2 25 | $10.1B | $6.1B | ||
| Q1 25 | $9.6B | $5.2B | ||
| Q4 24 | $9.7B | $5.2B | ||
| Q3 24 | $9.0B | $5.2B | ||
| Q2 24 | $9.2B | $5.1B | ||
| Q1 24 | $9.1B | $5.1B |
负债/权益比BILLRHP
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.43× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.23× | — | ||
| Q2 24 | 0.22× | — | ||
| Q1 24 | 0.28× | — |
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 | $105.3M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $58.5M |
| 自由现金流率自由现金流/营收 | 25.0% | 7.9% |
| 资本支出强度资本支出/营收 | 0.4% | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | $378.8M | $232.4M |
8季度趋势，按日历期对齐
经营现金流BILLRHP
| Q4 25 | $105.3M | $164.7M | ||
| Q3 25 | $96.9M | $205.2M | ||
| Q2 25 | $83.8M | $122.5M | ||
| Q1 25 | $99.5M | $98.2M | ||
| Q4 24 | $78.7M | $166.6M | ||
| Q3 24 | $88.6M | $218.1M | ||
| Q2 24 | $78.6M | $184.3M | ||
| Q1 24 | $66.8M | $7.5M |
自由现金流BILLRHP
| Q4 25 | $103.8M | $58.5M | ||
| Q3 25 | $95.6M | $135.4M | ||
| Q2 25 | $81.0M | $53.0M | ||
| Q1 25 | $98.4M | $-14.5M | ||
| Q4 24 | $78.3M | $76.0M | ||
| Q3 24 | $88.6M | $85.7M | ||
| Q2 24 | $78.4M | $78.8M | ||
| Q1 24 | $66.8M | $-72.0M |
自由现金流率BILLRHP
| Q4 25 | 25.0% | 7.9% | ||
| Q3 25 | 24.1% | 22.9% | ||
| Q2 25 | 21.1% | 8.0% | ||
| Q1 25 | 27.5% | -2.5% | ||
| Q4 24 | 21.6% | 11.7% | ||
| Q3 24 | 24.7% | 15.6% | ||
| Q2 24 | 22.8% | 12.9% | ||
| Q1 24 | 20.7% | -13.6% |
资本支出强度BILLRHP
| Q4 25 | 0.4% | 14.4% | ||
| Q3 25 | 0.3% | 11.8% | ||
| Q2 25 | 0.7% | 10.5% | ||
| Q1 25 | 0.3% | 19.2% | ||
| Q4 24 | 0.1% | 14.0% | ||
| Q3 24 | 0.0% | 24.1% | ||
| Q2 24 | 0.1% | 17.2% | ||
| Q1 24 | 0.0% | 15.0% |
现金转化率BILLRHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | 2.35× | 2.30× | ||
| Q3 24 | 9.94× | 3.70× | ||
| Q2 24 | 10.35× | 1.83× | ||
| Q1 24 | 2.10× | 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
BILL
| Accounts Payable And Accounts Receivable Solutions | $185.9M | 45% |
| Spend And Expense Interchange Revenue | $166.5M | 40% |
| Interest On Funds Held For Customers | $39.5M | 10% |
| Embedded And Other Solutions | $22.8M | 5% |
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% |
