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缤客控股（BKNG）与Churchill Downs Inc（CHDN）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Churchill Downs Inc的9.6倍（$6.3B vs $663.0M）。缤客控股同比增速更快（16.0% vs 3.1%）。过去两年缤客控股的营收复合增速更高（19.9% vs -13.7%）
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。
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
BKNG vs CHDN — 直观对比
营收规模更大
BKNG
是对方的9.6倍
$663.0M
营收增速更快
BKNG
高出12.9%
3.1%
两年增速更快
BKNG
近两年复合增速
-13.7%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $663.0M |
| 净利润 | — | $83.0M |
| 毛利率 | — | — |
| 营业利润率 | 32.0% | 21.6% |
| 净利率 | — | 12.5% |
| 营收同比 | 16.0% | 3.1% |
| 净利润同比 | — | 7.8% |
| 每股收益（稀释后） | $43.66 | $1.16 |
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BKNGCHDN
| Q1 26 | — | $663.0M | ||
| Q4 25 | $6.3B | $665.9M | ||
| Q3 25 | $9.0B | $683.0M | ||
| Q2 25 | $6.8B | $934.4M | ||
| Q1 25 | $4.8B | $642.6M | ||
| Q4 24 | $5.5B | $624.2M | ||
| Q3 24 | $8.0B | $628.5M | ||
| Q2 24 | $5.9B | $890.7M |
净利润BKNGCHDN
| Q1 26 | — | $83.0M | ||
| Q4 25 | — | $51.3M | ||
| Q3 25 | — | $38.1M | ||
| Q2 25 | — | $216.9M | ||
| Q1 25 | — | $76.7M | ||
| Q4 24 | — | $71.7M | ||
| Q3 24 | — | $65.4M | ||
| Q2 24 | — | $209.3M |
营业利润率BKNGCHDN
| Q1 26 | — | 21.6% | ||
| Q4 25 | 32.0% | 18.5% | ||
| Q3 25 | 38.7% | 14.3% | ||
| Q2 25 | 33.1% | 35.1% | ||
| Q1 25 | 22.3% | 20.9% | ||
| Q4 24 | 31.6% | 20.3% | ||
| Q3 24 | 39.8% | 20.0% | ||
| Q2 24 | 31.7% | 37.0% |
净利率BKNGCHDN
| Q1 26 | — | 12.5% | ||
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 11.9% | ||
| Q4 24 | — | 11.5% | ||
| Q3 24 | — | 10.4% | ||
| Q2 24 | — | 23.5% |
每股收益（稀释后）BKNGCHDN
| Q1 26 | — | $1.16 | ||
| Q4 25 | $43.66 | — | ||
| Q3 25 | $84.41 | — | ||
| Q2 25 | $27.43 | — | ||
| Q1 25 | $10.07 | — | ||
| Q4 24 | $31.60 | — | ||
| Q3 24 | $74.34 | — | ||
| Q2 24 | $44.38 | — |
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 | $17.2B | $200.0M |
| 总债务越低越好 | $18.7B | $840.0M |
| 股东权益账面价值 | $-5.6B | — |
| 总资产 | $29.3B | $7.5B |
| 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BKNGCHDN
| Q1 26 | — | $200.0M | ||
| Q4 25 | $17.2B | $200.6M | ||
| Q3 25 | $16.5B | $180.5M | ||
| Q2 25 | $17.6B | $182.4M | ||
| Q1 25 | $15.6B | $174.2M | ||
| Q4 24 | $16.2B | $175.5M | ||
| Q3 24 | $15.8B | $152.7M | ||
| Q2 24 | $16.3B | $140.3M |
总债务BKNGCHDN
| Q1 26 | — | $840.0M | ||
| 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 | — |
股东权益BKNGCHDN
| Q1 26 | — | — | ||
| Q4 25 | $-5.6B | $1.0B | ||
| Q3 25 | $-4.7B | $1.0B | ||
| Q2 25 | $-6.7B | $1.0B | ||
| Q1 25 | $-6.1B | $1.1B | ||
| Q4 24 | $-4.0B | $1.1B | ||
| Q3 24 | $-3.7B | $1.1B | ||
| Q2 24 | $-4.3B | $1.0B |
总资产BKNGCHDN
| Q1 26 | — | $7.5B | ||
| Q4 25 | $29.3B | $7.5B | ||
| Q3 25 | $28.8B | $7.5B | ||
| Q2 25 | $30.7B | $7.4B | ||
| Q1 25 | $27.2B | $7.3B | ||
| Q4 24 | $27.7B | $7.3B | ||
| Q3 24 | $28.0B | $7.2B | ||
| Q2 24 | $28.5B | $7.2B |
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 | $1.5B | $295.0M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | — |
| 自由现金流率自由现金流/营收 | 22.3% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | — | 3.55× |
| 过去12个月自由现金流最近4个季度 | $9.1B | — |
8季度趋势，按日历期对齐
经营现金流BKNGCHDN
| Q1 26 | — | $295.0M | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $187.7M | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.3B | $246.5M | ||
| Q4 24 | $721.0M | — | ||
| Q3 24 | $2.4B | $169.4M | ||
| Q2 24 | $2.5B | — |
自由现金流BKNGCHDN
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $166.3M | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.2B | $233.9M | ||
| Q4 24 | $645.0M | — | ||
| Q3 24 | $2.3B | $154.4M | ||
| Q2 24 | $2.4B | — |
自由现金流率BKNGCHDN
| Q1 26 | — | — | ||
| Q4 25 | 22.3% | — | ||
| Q3 25 | 15.2% | 24.3% | ||
| Q2 25 | 46.1% | — | ||
| Q1 25 | 66.4% | 36.4% | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 28.7% | 24.6% | ||
| Q2 24 | 40.6% | — |
资本支出强度BKNGCHDN
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 2.6% | ||
| Q3 25 | 0.7% | 3.1% | ||
| Q2 25 | 0.9% | 2.0% | ||
| Q1 25 | 2.5% | 2.0% | ||
| Q4 24 | 1.4% | 5.4% | ||
| Q3 24 | 1.0% | 2.4% | ||
| Q2 24 | 2.5% | 2.5% |
现金转化率BKNGCHDN
| Q1 26 | — | 3.55× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 4.93× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 3.21× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.59× | ||
| Q2 24 | — | — |
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
BKNG
| Merchant Revenue | $4.2B | 67% |
| Agency Revenue | $1.8B | 28% |
| Advertisingandotherrevenues | $309.0M | 5% |
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
