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缤客控股（BKNG）与GrowGeneration Corp.（GRWG）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GrowGeneration Corp.的167.9倍（$6.3B vs $37.8M）。缤客控股同比增速更快（16.0% vs 1.0%）。过去两年缤客控股的营收复合增速更高（19.9% vs -11.1%）
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。
GrowGeneration Corp是美国领先的水培及有机园艺用品专业零售商，主营种植灯、营养液、环境控制系统、栽培工具等全系列产品，通过覆盖全国的实体门店和电商渠道，为商业室内种植从业者（包括合法大麻种植商）及家庭园艺爱好者提供服务。
BKNG vs GRWG — 直观对比
营收规模更大
BKNG
是对方的167.9倍
$37.8M
营收增速更快
BKNG
高出15.0%
1.0%
两年增速更快
BKNG
近两年复合增速
-11.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $37.8M |
| 净利润 | — | $-7.4M |
| 毛利率 | — | 24.1% |
| 营业利润率 | 32.0% | -20.1% |
| 净利率 | — | -19.6% |
| 营收同比 | 16.0% | 1.0% |
| 净利润同比 | — | 68.2% |
| 每股收益（稀释后） | $43.66 | $-0.12 |
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BKNGGRWG
| Q4 25 | $6.3B | $37.8M | ||
| Q3 25 | $9.0B | $47.3M | ||
| Q2 25 | $6.8B | $41.0M | ||
| Q1 25 | $4.8B | $35.7M | ||
| Q4 24 | $5.5B | $37.4M | ||
| Q3 24 | $8.0B | $50.0M | ||
| Q2 24 | $5.9B | $53.5M | ||
| Q1 24 | $4.4B | $47.9M |
净利润BKNGGRWG
| Q4 25 | — | $-7.4M | ||
| Q3 25 | — | $-2.4M | ||
| Q2 25 | — | $-4.8M | ||
| Q1 25 | — | $-9.4M | ||
| Q4 24 | — | $-23.3M | ||
| Q3 24 | — | $-11.4M | ||
| Q2 24 | — | $-5.9M | ||
| Q1 24 | — | $-8.8M |
毛利率BKNGGRWG
| Q4 25 | — | 24.1% | ||
| Q3 25 | — | 27.2% | ||
| Q2 25 | — | 28.3% | ||
| Q1 25 | — | 27.2% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 21.6% | ||
| Q2 24 | — | 26.9% | ||
| Q1 24 | — | 25.8% |
营业利润率BKNGGRWG
| Q4 25 | 32.0% | -20.1% | ||
| Q3 25 | 38.7% | -6.0% | ||
| Q2 25 | 33.1% | -12.9% | ||
| Q1 25 | 22.3% | -27.7% | ||
| Q4 24 | 31.6% | -63.9% | ||
| Q3 24 | 39.8% | -24.2% | ||
| Q2 24 | 31.7% | -12.2% | ||
| Q1 24 | 17.9% | -19.7% |
净利率BKNGGRWG
| Q4 25 | — | -19.6% | ||
| Q3 25 | — | -5.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | -26.3% | ||
| Q4 24 | — | -62.4% | ||
| Q3 24 | — | -22.9% | ||
| Q2 24 | — | -11.0% | ||
| Q1 24 | — | -18.5% |
每股收益（稀释后）BKNGGRWG
| Q4 25 | $43.66 | $-0.12 | ||
| Q3 25 | $84.41 | $-0.04 | ||
| Q2 25 | $27.43 | $-0.08 | ||
| Q1 25 | $10.07 | $-0.16 | ||
| Q4 24 | $31.60 | $-0.39 | ||
| Q3 24 | $74.34 | $-0.19 | ||
| Q2 24 | $44.38 | $-0.10 | ||
| 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 | $46.1M |
| 总债务越低越好 | $18.7B | — |
| 股东权益账面价值 | $-5.6B | $97.5M |
| 总资产 | $29.3B | $147.0M |
| 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BKNGGRWG
| Q4 25 | $17.2B | $46.1M | ||
| Q3 25 | $16.5B | $48.3M | ||
| Q2 25 | $17.6B | $48.7M | ||
| Q1 25 | $15.6B | $52.6M | ||
| Q4 24 | $16.2B | $56.5M | ||
| Q3 24 | $15.8B | $55.2M | ||
| Q2 24 | $16.3B | $56.0M | ||
| Q1 24 | $16.0B | $61.3M |
总债务BKNGGRWG
| 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BKNGGRWG
| Q4 25 | $-5.6B | $97.5M | ||
| Q3 25 | $-4.7B | $104.7M | ||
| Q2 25 | $-6.7B | $106.7M | ||
| Q1 25 | $-6.1B | $111.2M | ||
| Q4 24 | $-4.0B | $120.1M | ||
| Q3 24 | $-3.7B | $143.2M | ||
| Q2 24 | $-4.3B | $155.8M | ||
| Q1 24 | $-4.1B | $165.3M |
总资产BKNGGRWG
| Q4 25 | $29.3B | $147.0M | ||
| Q3 25 | $28.8B | $159.6M | ||
| Q2 25 | $30.7B | $160.6M | ||
| Q1 25 | $27.2B | $164.2M | ||
| Q4 24 | $27.7B | $174.4M | ||
| Q3 24 | $28.0B | $199.6M | ||
| Q2 24 | $28.5B | $219.2M | ||
| Q1 24 | $27.7B | $230.4M |
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 | $-2.2M |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流BKNGGRWG
| Q4 25 | $1.5B | $-2.2M | ||
| Q3 25 | $1.4B | $-499.0K | ||
| Q2 25 | $3.2B | $-2.9M | ||
| Q1 25 | $3.3B | $-3.8M | ||
| Q4 24 | $721.0M | $1.1M | ||
| Q3 24 | $2.4B | $1.2M | ||
| Q2 24 | $2.5B | $-398.0K | ||
| Q1 24 | $2.7B | $-3.6M |
自由现金流BKNGGRWG
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $645.0M | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
自由现金流率BKNGGRWG
| Q4 25 | 22.3% | — | ||
| Q3 25 | 15.2% | — | ||
| Q2 25 | 46.1% | — | ||
| Q1 25 | 66.4% | — | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 28.7% | — | ||
| Q2 24 | 40.6% | — | ||
| Q1 24 | 58.3% | — |
资本支出强度BKNGGRWG
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 1.0% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 2.9% | — |
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% |
GRWG
| Consumables | $22.3M | 59% |
| Durables | $9.8M | 26% |
| Commercial Fixture Sales | $5.7M | 15% |
