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缤客控股（BKNG）与DoorDash（DASH）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DoorDash的1.6倍（$6.3B vs $4.0B），DoorDash同比增速更快（37.7% vs 16.0%），缤客控股自由现金流更多（$1.4B vs $367.0M），过去两年DoorDash的营收复合增速更高（25.5% vs 19.9%）
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。
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
BKNG vs DASH — 直观对比
营收规模更大
BKNG
是对方的1.6倍
$4.0B
营收增速更快
DASH
高出21.6%
16.0%
自由现金流更多
BKNG
多$1.1B
$367.0M
两年增速更快
DASH
近两年复合增速
19.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $4.0B |
| 净利润 | — | $213.0M |
| 毛利率 | — | — |
| 营业利润率 | 32.0% | 3.7% |
| 净利率 | — | 5.4% |
| 营收同比 | 16.0% | 37.7% |
| 净利润同比 | — | 51.1% |
| 每股收益（稀释后） | $43.66 | $0.49 |
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BKNGDASH
| Q4 25 | $6.3B | $4.0B | ||
| Q3 25 | $9.0B | $3.4B | ||
| Q2 25 | $6.8B | $3.3B | ||
| Q1 25 | $4.8B | $3.0B | ||
| Q4 24 | $5.5B | $2.9B | ||
| Q3 24 | $8.0B | $2.7B | ||
| Q2 24 | $5.9B | $2.6B | ||
| Q1 24 | $4.4B | $2.5B |
净利润BKNGDASH
| Q4 25 | — | $213.0M | ||
| Q3 25 | — | $244.0M | ||
| Q2 25 | — | $285.0M | ||
| Q1 25 | — | $193.0M | ||
| Q4 24 | — | $141.0M | ||
| Q3 24 | — | $162.0M | ||
| Q2 24 | — | $-157.0M | ||
| Q1 24 | — | $-23.0M |
营业利润率BKNGDASH
| Q4 25 | 32.0% | 3.7% | ||
| Q3 25 | 38.7% | 7.5% | ||
| Q2 25 | 33.1% | 5.0% | ||
| Q1 25 | 22.3% | 5.1% | ||
| Q4 24 | 31.6% | 4.1% | ||
| Q3 24 | 39.8% | 4.0% | ||
| Q2 24 | 31.7% | -7.6% | ||
| Q1 24 | 17.9% | -2.4% |
净利率BKNGDASH
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 7.1% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 4.9% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | -6.0% | ||
| Q1 24 | — | -0.9% |
每股收益（稀释后）BKNGDASH
| Q4 25 | $43.66 | $0.49 | ||
| Q3 25 | $84.41 | $0.55 | ||
| Q2 25 | $27.43 | $0.65 | ||
| Q1 25 | $10.07 | $0.44 | ||
| Q4 24 | $31.60 | $0.35 | ||
| Q3 24 | $74.34 | $0.38 | ||
| Q2 24 | $44.38 | $-0.38 | ||
| Q1 24 | $22.37 | $-0.06 |
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 | $4.4B |
| 总债务越低越好 | $18.7B | — |
| 股东权益账面价值 | $-5.6B | $10.0B |
| 总资产 | $29.3B | $19.7B |
| 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BKNGDASH
| Q4 25 | $17.2B | $4.4B | ||
| Q3 25 | $16.5B | $3.3B | ||
| Q2 25 | $17.6B | $3.9B | ||
| Q1 25 | $15.6B | $4.5B | ||
| Q4 24 | $16.2B | $4.0B | ||
| Q3 24 | $15.8B | $3.7B | ||
| Q2 24 | $16.3B | $3.4B | ||
| Q1 24 | $16.0B | $3.1B |
总债务BKNGDASH
| 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BKNGDASH
| Q4 25 | $-5.6B | $10.0B | ||
| Q3 25 | $-4.7B | $9.5B | ||
| Q2 25 | $-6.7B | $8.9B | ||
| Q1 25 | $-6.1B | $8.4B | ||
| Q4 24 | $-4.0B | $7.8B | ||
| Q3 24 | $-3.7B | $7.6B | ||
| Q2 24 | $-4.3B | $7.2B | ||
| Q1 24 | $-4.1B | $7.0B |
总资产BKNGDASH
| Q4 25 | $29.3B | $19.7B | ||
| Q3 25 | $28.8B | $18.0B | ||
| Q2 25 | $30.7B | $16.9B | ||
| Q1 25 | $27.2B | $13.6B | ||
| Q4 24 | $27.7B | $12.8B | ||
| Q3 24 | $28.0B | $12.3B | ||
| Q2 24 | $28.5B | $11.8B | ||
| Q1 24 | $27.7B | $11.4B |
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 | $421.0M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $367.0M |
| 自由现金流率自由现金流/营收 | 22.3% | 9.3% |
| 资本支出强度资本支出/营收 | 1.1% | 1.4% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $2.2B |
8季度趋势，按日历期对齐
经营现金流BKNGDASH
| Q4 25 | $1.5B | $421.0M | ||
| Q3 25 | $1.4B | $871.0M | ||
| Q2 25 | $3.2B | $504.0M | ||
| Q1 25 | $3.3B | $635.0M | ||
| Q4 24 | $721.0M | $518.0M | ||
| Q3 24 | $2.4B | $531.0M | ||
| Q2 24 | $2.5B | $530.0M | ||
| Q1 24 | $2.7B | $553.0M |
自由现金流BKNGDASH
| Q4 25 | $1.4B | $367.0M | ||
| Q3 25 | $1.4B | $808.0M | ||
| Q2 25 | $3.1B | $438.0M | ||
| Q1 25 | $3.2B | $561.0M | ||
| Q4 24 | $645.0M | $486.0M | ||
| Q3 24 | $2.3B | $499.0M | ||
| Q2 24 | $2.4B | $507.0M | ||
| Q1 24 | $2.6B | $536.0M |
自由现金流率BKNGDASH
| Q4 25 | 22.3% | 9.3% | ||
| Q3 25 | 15.2% | 23.4% | ||
| Q2 25 | 46.1% | 13.3% | ||
| Q1 25 | 66.4% | 18.5% | ||
| Q4 24 | 11.8% | 16.9% | ||
| Q3 24 | 28.7% | 18.4% | ||
| Q2 24 | 40.6% | 19.3% | ||
| Q1 24 | 58.3% | 21.3% |
资本支出强度BKNGDASH
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 0.7% | 1.8% | ||
| Q2 25 | 0.9% | 2.0% | ||
| Q1 25 | 2.5% | 2.4% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 1.0% | 1.2% | ||
| Q2 24 | 2.5% | 0.9% | ||
| Q1 24 | 2.9% | 0.7% |
现金转化率BKNGDASH
| Q4 25 | — | 1.98× | ||
| Q3 25 | — | 3.57× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | — | 3.67× | ||
| Q3 24 | — | 3.28× | ||
| Q2 24 | — | — | ||
| 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% |
DASH
暂无分部数据
