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缤客控股（BKNG）与Designer Brands Inc.（DBI）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Designer Brands Inc.的8.4倍（$6.3B vs $752.4M）。缤客控股同比增速更快（16.0% vs -3.2%）。缤客控股自由现金流更多（$1.4B vs $57.5M）。过去两年缤客控股的营收复合增速更高（19.9% vs -0.1%）
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。
Designer Brands Inc.是一家美国鞋履及时尚配饰零售商，主打销售设计师品牌与知名品牌商品，旗下拥有知名连锁零售品牌DSW（设计师鞋履仓库），目前在美国经营超过500家线下门店，同时运营线上电商平台。
BKNG vs DBI — 直观对比
营收规模更大
BKNG
是对方的8.4倍
$752.4M
营收增速更快
BKNG
高出19.2%
-3.2%
自由现金流更多
BKNG
多$1.4B
$57.5M
两年增速更快
BKNG
近两年复合增速
-0.1%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $752.4M |
| 净利润 | — | $18.2M |
| 毛利率 | — | 45.1% |
| 营业利润率 | 32.0% | 5.7% |
| 净利率 | — | 2.4% |
| 营收同比 | 16.0% | -3.2% |
| 净利润同比 | — | 40.0% |
| 每股收益（稀释后） | $43.66 | $0.35 |
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BKNGDBI
| Q4 25 | $6.3B | $752.4M | ||
| Q3 25 | $9.0B | $739.8M | ||
| Q2 25 | $6.8B | $686.9M | ||
| Q1 25 | $4.8B | $713.6M | ||
| Q4 24 | $5.5B | $777.2M | ||
| Q3 24 | $8.0B | $771.9M | ||
| Q2 24 | $5.9B | $746.6M | ||
| Q1 24 | $4.4B | $754.3M |
净利润BKNGDBI
| Q4 25 | — | $18.2M | ||
| Q3 25 | — | $10.8M | ||
| Q2 25 | — | $-17.4M | ||
| Q1 25 | — | $-38.2M | ||
| Q4 24 | — | $13.0M | ||
| Q3 24 | — | $13.8M | ||
| Q2 24 | — | $783.0K | ||
| Q1 24 | — | $-29.6M |
毛利率BKNGDBI
| Q4 25 | — | 45.1% | ||
| Q3 25 | — | 43.7% | ||
| Q2 25 | — | 43.0% | ||
| Q1 25 | — | 75.7% | ||
| Q4 24 | — | 43.0% | ||
| Q3 24 | — | 44.0% | ||
| Q2 24 | — | 44.2% | ||
| Q1 24 | — | 38.8% |
营业利润率BKNGDBI
| Q4 25 | 32.0% | 5.7% | ||
| Q3 25 | 38.7% | 3.6% | ||
| Q2 25 | 33.1% | -1.1% | ||
| Q1 25 | 22.3% | -3.6% | ||
| Q4 24 | 31.6% | 2.9% | ||
| Q3 24 | 39.8% | 3.7% | ||
| Q2 24 | 31.7% | 1.3% | ||
| Q1 24 | 17.9% | -4.8% |
净利率BKNGDBI
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | -2.5% | ||
| Q1 25 | — | -5.3% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | -3.9% |
每股收益（稀释后）BKNGDBI
| Q4 25 | $43.66 | $0.35 | ||
| Q3 25 | $84.41 | $0.22 | ||
| Q2 25 | $27.43 | $-0.36 | ||
| Q1 25 | $10.07 | $-0.69 | ||
| Q4 24 | $31.60 | $0.24 | ||
| Q3 24 | $74.34 | $0.24 | ||
| Q2 24 | $44.38 | $0.01 | ||
| Q1 24 | $22.37 | $-899.54 |
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 | $51.4M |
| 总债务越低越好 | $18.7B | $463.1M |
| 股东权益账面价值 | $-5.6B | $298.6M |
| 总资产 | $29.3B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资BKNGDBI
| Q4 25 | $17.2B | $51.4M | ||
| Q3 25 | $16.5B | $44.9M | ||
| Q2 25 | $17.6B | $46.0M | ||
| Q1 25 | $15.6B | $44.8M | ||
| Q4 24 | $16.2B | $36.2M | ||
| Q3 24 | $15.8B | $38.8M | ||
| Q2 24 | $16.3B | $43.4M | ||
| Q1 24 | $16.0B | $49.2M |
总债务BKNGDBI
| Q4 25 | $18.7B | $463.1M | ||
| Q3 25 | $17.0B | $509.6M | ||
| Q2 25 | $18.5B | $516.2M | ||
| Q1 25 | $16.0B | $484.3M | ||
| Q4 24 | $16.6B | $529.6M | ||
| Q3 24 | $16.2B | $459.0M | ||
| Q2 24 | $16.8B | $469.3M | ||
| Q1 24 | $16.9B | $420.3M |
股东权益BKNGDBI
| Q4 25 | $-5.6B | $298.6M | ||
| Q3 25 | $-4.7B | $280.8M | ||
| Q2 25 | $-6.7B | $266.9M | ||
| Q1 25 | $-6.1B | $278.5M | ||
| Q4 24 | $-4.0B | $318.5M | ||
| Q3 24 | $-3.7B | $355.5M | ||
| Q2 24 | $-4.3B | $358.5M | ||
| Q1 24 | $-4.1B | $359.2M |
总资产BKNGDBI
| Q4 25 | $29.3B | $2.1B | ||
| Q3 25 | $28.8B | $2.1B | ||
| Q2 25 | $30.7B | $2.1B | ||
| Q1 25 | $27.2B | $2.0B | ||
| Q4 24 | $27.7B | $2.1B | ||
| Q3 24 | $28.0B | $2.1B | ||
| Q2 24 | $28.5B | $2.2B | ||
| Q1 24 | $27.7B | $2.1B |
负债/权益比BKNGDBI
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | 1.81× | ||
| Q2 25 | — | 1.93× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.66× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 1.31× | ||
| Q1 24 | — | 1.17× |
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 | $66.5M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $57.5M |
| 自由现金流率自由现金流/营收 | 22.3% | 7.6% |
| 资本支出强度资本支出/营收 | 1.1% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 3.65× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $99.9M |
8季度趋势，按日历期对齐
经营现金流BKNGDBI
| Q4 25 | $1.5B | $66.5M | ||
| Q3 25 | $1.4B | $21.4M | ||
| Q2 25 | $3.2B | $-20.4M | ||
| Q1 25 | $3.3B | $70.1M | ||
| Q4 24 | $721.0M | $-9.8M | ||
| Q3 24 | $2.4B | $41.6M | ||
| Q2 24 | $2.5B | $-19.7M | ||
| Q1 24 | $2.7B | $-40.1M |
自由现金流BKNGDBI
| Q4 25 | $1.4B | $57.5M | ||
| Q3 25 | $1.4B | $11.9M | ||
| Q2 25 | $3.1B | $-27.6M | ||
| Q1 25 | $3.2B | $58.1M | ||
| Q4 24 | $645.0M | $-19.2M | ||
| Q3 24 | $2.3B | $28.0M | ||
| Q2 24 | $2.4B | $-35.6M | ||
| Q1 24 | $2.6B | $-52.8M |
自由现金流率BKNGDBI
| Q4 25 | 22.3% | 7.6% | ||
| Q3 25 | 15.2% | 1.6% | ||
| Q2 25 | 46.1% | -4.0% | ||
| Q1 25 | 66.4% | 8.1% | ||
| Q4 24 | 11.8% | -2.5% | ||
| Q3 24 | 28.7% | 3.6% | ||
| Q2 24 | 40.6% | -4.8% | ||
| Q1 24 | 58.3% | -7.0% |
资本支出强度BKNGDBI
| Q4 25 | 1.1% | 1.2% | ||
| Q3 25 | 0.7% | 1.3% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 2.5% | 1.7% | ||
| Q4 24 | 1.4% | 1.2% | ||
| Q3 24 | 1.0% | 1.8% | ||
| Q2 24 | 2.5% | 2.1% | ||
| Q1 24 | 2.9% | 1.7% |
现金转化率BKNGDBI
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.75× | ||
| Q3 24 | — | 3.01× | ||
| Q2 24 | — | -25.13× | ||
| 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% |
DBI
| Womens | $280.7M | 37% |
| Athletic Footwear | $188.6M | 25% |
| Wholesale | $89.8M | 12% |
| Canada Retail Segment | $77.3M | 10% |
| Mens | $76.1M | 10% |
| Kids | $24.2M | 3% |
| Commission Income | $10.8M | 1% |
| Directto Consumer | $1.3M | 0% |
