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缤客控股（BKNG）与Core & Main, Inc.（CNM）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Core & Main, Inc.的3.1倍（$6.3B vs $2.1B）。Core & Main, Inc.同比增速更快（43.2% vs 16.0%）。过去两年缤客控股的营收复合增速更高（19.9% vs 8.8%）
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。
Core & Main, Inc.总部位于美国密苏里州圣路易斯，是美国专业的水务及相关防护产品分销商，主营供水、污水处理、雨水排放、消防防护类产品，客户覆盖市政部门、私营水务企业及专业承包商，在全美49个州设有370个分支机构，服务6万客户，在售产品达22.5万种。
BKNG vs CNM — 直观对比
营收规模更大
BKNG
是对方的3.1倍
$2.1B
营收增速更快
CNM
高出27.1%
16.0%
两年增速更快
BKNG
近两年复合增速
8.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $2.1B |
| 净利润 | — | $137.0M |
| 毛利率 | — | 27.2% |
| 营业利润率 | 32.0% | 10.7% |
| 净利率 | — | 6.6% |
| 营收同比 | 16.0% | 43.2% |
| 净利润同比 | — | 117.5% |
| 每股收益（稀释后） | $43.66 | $0.72 |
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BKNGCNM
| Q4 25 | $6.3B | $2.1B | ||
| Q3 25 | $9.0B | $2.1B | ||
| Q2 25 | $6.8B | $1.9B | ||
| Q1 25 | $4.8B | $1.7B | ||
| Q4 24 | $5.5B | $2.0B | ||
| Q3 24 | $8.0B | $2.0B | ||
| Q2 24 | $5.9B | $1.7B | ||
| Q1 24 | $4.4B | — |
净利润BKNGCNM
| Q4 25 | — | $137.0M | ||
| Q3 25 | — | $134.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | — | $64.0M | ||
| Q4 24 | — | $133.0M | ||
| Q3 24 | — | $119.0M | ||
| Q2 24 | — | $95.0M | ||
| Q1 24 | — | — |
毛利率BKNGCNM
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | 26.8% | ||
| Q2 25 | — | 26.7% | ||
| Q1 25 | — | 26.6% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 26.4% | ||
| Q2 24 | — | 26.9% | ||
| Q1 24 | — | — |
营业利润率BKNGCNM
| Q4 25 | 32.0% | 10.7% | ||
| Q3 25 | 38.7% | 10.2% | ||
| Q2 25 | 33.1% | 8.9% | ||
| Q1 25 | 22.3% | 7.3% | ||
| Q4 24 | 31.6% | 10.9% | ||
| Q3 24 | 39.8% | 10.4% | ||
| Q2 24 | 31.7% | 9.6% | ||
| Q1 24 | 17.9% | — |
净利率BKNGCNM
| Q4 25 | — | 6.6% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | 5.2% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 6.1% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | — |
每股收益（稀释后）BKNGCNM
| Q4 25 | $43.66 | $0.72 | ||
| Q3 25 | $84.41 | $0.70 | ||
| Q2 25 | $27.43 | $0.52 | ||
| Q1 25 | $10.07 | $0.34 | ||
| Q4 24 | $31.60 | $0.69 | ||
| Q3 24 | $74.34 | $0.61 | ||
| Q2 24 | $44.38 | $0.49 | ||
| Q1 24 | $22.37 | — |
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 | $89.0M |
| 总债务越低越好 | $18.7B | — |
| 股东权益账面价值 | $-5.6B | $2.0B |
| 总资产 | $29.3B | $6.3B |
| 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BKNGCNM
| Q4 25 | $17.2B | $89.0M | ||
| Q3 25 | $16.5B | $25.0M | ||
| Q2 25 | $17.6B | $8.0M | ||
| Q1 25 | $15.6B | $8.0M | ||
| Q4 24 | $16.2B | $10.0M | ||
| Q3 24 | $15.8B | $13.0M | ||
| Q2 24 | $16.3B | $30.0M | ||
| Q1 24 | $16.0B | — |
总债务BKNGCNM
| 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 | — | ||
| Q1 24 | $16.9B | — |
股东权益BKNGCNM
| Q4 25 | $-5.6B | $2.0B | ||
| Q3 25 | $-4.7B | $1.9B | ||
| Q2 25 | $-6.7B | $1.7B | ||
| Q1 25 | $-6.1B | $1.7B | ||
| Q4 24 | $-4.0B | $1.7B | ||
| Q3 24 | $-3.7B | $1.6B | ||
| Q2 24 | $-4.3B | $1.6B | ||
| Q1 24 | $-4.1B | — |
总资产BKNGCNM
| Q4 25 | $29.3B | $6.3B | ||
| Q3 25 | $28.8B | $6.3B | ||
| Q2 25 | $30.7B | $6.3B | ||
| Q1 25 | $27.2B | $5.9B | ||
| Q4 24 | $27.7B | $6.2B | ||
| Q3 24 | $28.0B | $6.1B | ||
| Q2 24 | $28.5B | $6.0B | ||
| Q1 24 | $27.7B | — |
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 | — |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $9.1B | $575.0M |
8季度趋势，按日历期对齐
经营现金流BKNGCNM
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $34.0M | ||
| Q2 25 | $3.2B | $77.0M | ||
| Q1 25 | $3.3B | $235.0M | ||
| Q4 24 | $721.0M | $260.0M | ||
| Q3 24 | $2.4B | $48.0M | ||
| Q2 24 | $2.5B | $78.0M | ||
| Q1 24 | $2.7B | — |
自由现金流BKNGCNM
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $24.0M | ||
| Q2 25 | $3.1B | $64.0M | ||
| Q1 25 | $3.2B | $224.0M | ||
| Q4 24 | $645.0M | $252.0M | ||
| Q3 24 | $2.3B | $39.0M | ||
| Q2 24 | $2.4B | $71.0M | ||
| Q1 24 | $2.6B | — |
自由现金流率BKNGCNM
| Q4 25 | 22.3% | — | ||
| Q3 25 | 15.2% | 1.1% | ||
| Q2 25 | 46.1% | 3.3% | ||
| Q1 25 | 66.4% | 13.2% | ||
| Q4 24 | 11.8% | 12.4% | ||
| Q3 24 | 28.7% | 2.0% | ||
| Q2 24 | 40.6% | 4.1% | ||
| Q1 24 | 58.3% | — |
资本支出强度BKNGCNM
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | 0.5% | ||
| Q2 25 | 0.9% | 0.7% | ||
| Q1 25 | 2.5% | 0.6% | ||
| Q4 24 | 1.4% | 0.4% | ||
| Q3 24 | 1.0% | 0.5% | ||
| Q2 24 | 2.5% | 0.4% | ||
| Q1 24 | 2.9% | — |
现金转化率BKNGCNM
| Q4 25 | — | — | ||
| Q3 25 | — | 0.25× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 3.67× | ||
| Q4 24 | — | 1.95× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.82× | ||
| 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% |
CNM
| Pipes Valves And Fitting Products | $1.4B | 67% |
| Storm Drainage Products | $333.0M | 16% |
| Meter Products | $195.0M | 9% |
| Fire Protection Products | $152.0M | 7% |
