vs
缤客控股（BKNG）与CLEVELAND-CLIFFS INC.（CLF）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CLEVELAND-CLIFFS INC.的1.5倍（$6.3B vs $4.3B），缤客控股同比增速更快（16.0% vs -0.3%），缤客控股自由现金流更多（$1.4B vs $-153.0M），过去两年缤客控股的营收复合增速更高（19.9% vs -8.9%）
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。
克利夫兰-克利夫斯公司是总部位于美国俄亥俄州克利夫兰的钢铁制造商，业务覆盖铁矿石开采、选矿、造球及钢铁冶炼，包含冲压与模具制造，是美国第二大钢铁生产商、北美最大扁钢生产商，位列财富500强第221位、福布斯全球2000强第1511位。
BKNG vs CLF — 直观对比
营收规模更大
BKNG
是对方的1.5倍
$4.3B
营收增速更快
BKNG
高出16.3%
-0.3%
自由现金流更多
BKNG
多$1.6B
$-153.0M
两年增速更快
BKNG
近两年复合增速
-8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $4.3B |
| 净利润 | — | $-241.0M |
| 毛利率 | — | -5.0% |
| 营业利润率 | 32.0% | -7.9% |
| 净利率 | — | -5.6% |
| 营收同比 | 16.0% | -0.3% |
| 净利润同比 | — | 46.1% |
| 每股收益（稀释后） | $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BKNGCLF
| Q4 25 | $6.3B | $4.3B | ||
| Q3 25 | $9.0B | $4.7B | ||
| Q2 25 | $6.8B | $4.9B | ||
| Q1 25 | $4.8B | $4.6B | ||
| Q4 24 | $5.5B | $4.3B | ||
| Q3 24 | $8.0B | $4.6B | ||
| Q2 24 | $5.9B | $5.1B | ||
| Q1 24 | $4.4B | $5.2B |
净利润BKNGCLF
| Q4 25 | — | $-241.0M | ||
| Q3 25 | — | $-251.0M | ||
| Q2 25 | — | $-470.0M | ||
| Q1 25 | — | $-483.0M | ||
| Q4 24 | — | $-447.0M | ||
| Q3 24 | — | $-242.0M | ||
| Q2 24 | — | $2.0M | ||
| Q1 24 | — | $-67.0M |
毛利率BKNGCLF
| Q4 25 | — | -5.0% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | — | -4.2% | ||
| Q1 25 | — | -8.4% | ||
| Q4 24 | — | -6.3% | ||
| Q3 24 | — | -2.3% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 5.5% |
营业利润率BKNGCLF
| Q4 25 | 32.0% | -7.9% | ||
| Q3 25 | 38.7% | -4.3% | ||
| Q2 25 | 33.1% | -10.1% | ||
| Q1 25 | 22.3% | -11.6% | ||
| Q4 24 | 31.6% | -10.8% | ||
| Q3 24 | 39.8% | -5.7% | ||
| Q2 24 | 31.7% | 0.1% | ||
| Q1 24 | 17.9% | -0.7% |
净利率BKNGCLF
| Q4 25 | — | -5.6% | ||
| Q3 25 | — | -5.3% | ||
| Q2 25 | — | -9.5% | ||
| Q1 25 | — | -10.4% | ||
| Q4 24 | — | -10.3% | ||
| Q3 24 | — | -5.3% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | -1.3% |
每股收益（稀释后）BKNGCLF
| Q4 25 | $43.66 | — | ||
| Q3 25 | $84.41 | $-0.51 | ||
| Q2 25 | $27.43 | — | ||
| Q1 25 | $10.07 | — | ||
| Q4 24 | $31.60 | $-0.91 | ||
| Q3 24 | $74.34 | $-0.52 | ||
| Q2 24 | $44.38 | $0.00 | ||
| Q1 24 | $22.37 | $-0.14 |
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 | $57.0M |
| 总债务越低越好 | $18.7B | $7.3B |
| 股东权益账面价值 | $-5.6B | $6.1B |
| 总资产 | $29.3B | $20.0B |
| 负债/权益比越低杠杆越低 | — | 1.19× |
8季度趋势，按日历期对齐
现金及短期投资BKNGCLF
| Q4 25 | $17.2B | $57.0M | ||
| Q3 25 | $16.5B | $66.0M | ||
| Q2 25 | $17.6B | $61.0M | ||
| Q1 25 | $15.6B | $57.0M | ||
| Q4 24 | $16.2B | $54.0M | ||
| Q3 24 | $15.8B | $39.0M | ||
| Q2 24 | $16.3B | $110.0M | ||
| Q1 24 | $16.0B | $30.0M |
总债务BKNGCLF
| Q4 25 | $18.7B | $7.3B | ||
| Q3 25 | $17.0B | $8.0B | ||
| Q2 25 | $18.5B | $7.7B | ||
| Q1 25 | $16.0B | $7.6B | ||
| Q4 24 | $16.6B | $7.1B | ||
| Q3 24 | $16.2B | $3.8B | ||
| Q2 24 | $16.8B | $3.5B | ||
| Q1 24 | $16.9B | $3.7B |
股东权益BKNGCLF
| Q4 25 | $-5.6B | $6.1B | ||
| Q3 25 | $-4.7B | $5.5B | ||
| Q2 25 | $-6.7B | $5.8B | ||
| Q1 25 | $-6.1B | $6.3B | ||
| Q4 24 | $-4.0B | $6.7B | ||
| Q3 24 | $-3.7B | $6.9B | ||
| Q2 24 | $-4.3B | $7.1B | ||
| Q1 24 | $-4.1B | $7.2B |
总资产BKNGCLF
| Q4 25 | $29.3B | $20.0B | ||
| Q3 25 | $28.8B | $20.3B | ||
| Q2 25 | $30.7B | $20.5B | ||
| Q1 25 | $27.2B | $20.8B | ||
| Q4 24 | $27.7B | $20.9B | ||
| Q3 24 | $28.0B | $16.8B | ||
| Q2 24 | $28.5B | $16.9B | ||
| Q1 24 | $27.7B | $17.2B |
负债/权益比BKNGCLF
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 1.33× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | — | 1.06× | ||
| Q3 24 | — | 0.55× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.51× |
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 | $-13.0M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $-153.0M |
| 自由现金流率自由现金流/营收 | 22.3% | -3.5% |
| 资本支出强度资本支出/营收 | 1.1% | 3.2% |
| 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 | $9.1B | $-1.0B |
8季度趋势，按日历期对齐
经营现金流BKNGCLF
| Q4 25 | $1.5B | $-13.0M | ||
| Q3 25 | $1.4B | $-143.0M | ||
| Q2 25 | $3.2B | $45.0M | ||
| Q1 25 | $3.3B | $-351.0M | ||
| Q4 24 | $721.0M | $-472.0M | ||
| Q3 24 | $2.4B | $-84.0M | ||
| Q2 24 | $2.5B | $519.0M | ||
| Q1 24 | $2.7B | $142.0M |
自由现金流BKNGCLF
| Q4 25 | $1.4B | $-153.0M | ||
| Q3 25 | $1.4B | $-300.0M | ||
| Q2 25 | $3.1B | $-67.0M | ||
| Q1 25 | $3.2B | $-503.0M | ||
| Q4 24 | $645.0M | $-677.0M | ||
| Q3 24 | $2.3B | $-235.0M | ||
| Q2 24 | $2.4B | $362.0M | ||
| Q1 24 | $2.6B | $-40.0M |
自由现金流率BKNGCLF
| Q4 25 | 22.3% | -3.5% | ||
| Q3 25 | 15.2% | -6.3% | ||
| Q2 25 | 46.1% | -1.4% | ||
| Q1 25 | 66.4% | -10.9% | ||
| Q4 24 | 11.8% | -15.7% | ||
| Q3 24 | 28.7% | -5.1% | ||
| Q2 24 | 40.6% | 7.1% | ||
| Q1 24 | 58.3% | -0.8% |
资本支出强度BKNGCLF
| Q4 25 | 1.1% | 3.2% | ||
| Q3 25 | 0.7% | 3.3% | ||
| Q2 25 | 0.9% | 2.3% | ||
| Q1 25 | 2.5% | 3.3% | ||
| Q4 24 | 1.4% | 4.7% | ||
| Q3 24 | 1.0% | 3.3% | ||
| Q2 24 | 2.5% | 3.1% | ||
| Q1 24 | 2.9% | 3.5% |
现金转化率BKNGCLF
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 259.50× | ||
| Q1 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% |
CLF
| Hot Rolled Steel | $1.1B | 27% |
| Automotive | $1.1B | 27% |
| Steel Producers | $555.0M | 13% |
| Cold Rolled Steel | $530.0M | 12% |
| Other | $409.0M | 9% |
| Stainless And Electrical Steel | $404.0M | 9% |
| Other Businesses | $159.0M | 4% |
