vs
缤客控股（BKNG）与HNI CORP（HNI）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HNI CORP的9.3倍（$6.3B vs $683.8M），缤客控股同比增速更快（16.0% vs 1.7%），缤客控股自由现金流更多（$1.4B vs $135.6M），过去两年缤客控股的营收复合增速更高（19.9% vs 0.3%）
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。
HNI公司是全球营收规模领先的办公家具制造商之一，同时也是全球壁炉产品行业的头部企业，生产销售燃气、电、燃木及生物质燃料壁炉、嵌入式炉具、取暖炉、饰面及相关配件。公司1944年由工程师C.麦克斯韦·斯坦利等三人联合创立，总部位于美国爱荷华州马斯卡廷。
BKNG vs HNI — 直观对比
营收规模更大
BKNG
是对方的9.3倍
$683.8M
营收增速更快
BKNG
高出14.3%
1.7%
自由现金流更多
BKNG
多$1.3B
$135.6M
两年增速更快
BKNG
近两年复合增速
0.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $683.8M |
| 净利润 | — | $41.2M |
| 毛利率 | — | 42.1% |
| 营业利润率 | 32.0% | 9.4% |
| 净利率 | — | 6.0% |
| 营收同比 | 16.0% | 1.7% |
| 净利润同比 | — | -13.3% |
| 每股收益（稀释后） | $43.66 | $0.88 |
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BKNGHNI
| Q4 25 | $6.3B | — | ||
| Q3 25 | $9.0B | $683.8M | ||
| Q2 25 | $6.8B | $667.1M | ||
| Q1 25 | $4.8B | $599.8M | ||
| Q4 24 | $5.5B | $642.5M | ||
| Q3 24 | $8.0B | $672.2M | ||
| Q2 24 | $5.9B | $623.7M | ||
| Q1 24 | $4.4B | $588.0M |
净利润BKNGHNI
| Q4 25 | — | — | ||
| Q3 25 | — | $41.2M | ||
| Q2 25 | — | $48.2M | ||
| Q1 25 | — | $13.9M | ||
| Q4 24 | — | $38.3M | ||
| Q3 24 | — | $47.5M | ||
| Q2 24 | — | $36.0M | ||
| Q1 24 | — | $17.7M |
毛利率BKNGHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 42.1% | ||
| Q2 25 | — | 42.9% | ||
| Q1 25 | — | 39.7% | ||
| Q4 24 | — | 40.5% | ||
| Q3 24 | — | 41.5% | ||
| Q2 24 | — | 41.9% | ||
| Q1 24 | — | 39.6% |
营业利润率BKNGHNI
| Q4 25 | 32.0% | — | ||
| Q3 25 | 38.7% | 9.4% | ||
| Q2 25 | 33.1% | 10.2% | ||
| Q1 25 | 22.3% | 4.1% | ||
| Q4 24 | 31.6% | 8.5% | ||
| Q3 24 | 39.8% | 10.2% | ||
| Q2 24 | 31.7% | 8.6% | ||
| Q1 24 | 17.9% | 5.1% |
净利率BKNGHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 6.0% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | — | 7.1% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 3.0% |
每股收益（稀释后）BKNGHNI
| Q4 25 | $43.66 | — | ||
| Q3 25 | $84.41 | $0.88 | ||
| Q2 25 | $27.43 | $1.02 | ||
| Q1 25 | $10.07 | $0.29 | ||
| Q4 24 | $31.60 | $0.78 | ||
| Q3 24 | $74.34 | $0.98 | ||
| Q2 24 | $44.38 | $0.75 | ||
| Q1 24 | $22.37 | $0.37 |
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 | $28.1M |
| 总债务越低越好 | $18.7B | $324.2M |
| 股东权益账面价值 | $-5.6B | $835.9M |
| 总资产 | $29.3B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资BKNGHNI
| Q4 25 | $17.2B | — | ||
| Q3 25 | $16.5B | $28.1M | ||
| Q2 25 | $17.6B | $38.2M | ||
| Q1 25 | $15.6B | $27.5M | ||
| Q4 24 | $16.2B | $28.9M | ||
| Q3 24 | $15.8B | $40.2M | ||
| Q2 24 | $16.3B | $33.5M | ||
| Q1 24 | $16.0B | $32.5M |
总债务BKNGHNI
| Q4 25 | $18.7B | — | ||
| Q3 25 | $17.0B | $324.2M | ||
| Q2 25 | $18.5B | $444.4M | ||
| Q1 25 | $16.0B | $404.7M | ||
| Q4 24 | $16.6B | $344.6M | ||
| Q3 24 | $16.2B | $345.4M | ||
| Q2 24 | $16.8B | $462.3M | ||
| Q1 24 | $16.9B | $473.0M |
股东权益BKNGHNI
| Q4 25 | $-5.6B | — | ||
| Q3 25 | $-4.7B | $835.9M | ||
| Q2 25 | $-6.7B | $811.0M | ||
| Q1 25 | $-6.1B | $803.6M | ||
| Q4 24 | $-4.0B | $840.1M | ||
| Q3 24 | $-3.7B | $846.6M | ||
| Q2 24 | $-4.3B | $787.8M | ||
| Q1 24 | $-4.1B | $771.5M |
总资产BKNGHNI
| Q4 25 | $29.3B | — | ||
| Q3 25 | $28.8B | $1.8B | ||
| Q2 25 | $30.7B | $1.9B | ||
| Q1 25 | $27.2B | $1.9B | ||
| Q4 24 | $27.7B | $1.9B | ||
| Q3 24 | $28.0B | $1.9B | ||
| Q2 24 | $28.5B | $1.9B | ||
| Q1 24 | $27.7B | $1.9B |
负债/权益比BKNGHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | 0.50× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.61× |
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 | $155.2M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $135.6M |
| 自由现金流率自由现金流/营收 | 22.3% | 19.8% |
| 资本支出强度资本支出/营收 | 1.1% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 3.77× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $189.5M |
8季度趋势，按日历期对齐
经营现金流BKNGHNI
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $155.2M | ||
| Q2 25 | $3.2B | $31.1M | ||
| Q1 25 | $3.3B | $12.6M | ||
| Q4 24 | $721.0M | $51.2M | ||
| Q3 24 | $2.4B | $128.5M | ||
| Q2 24 | $2.5B | $51.3M | ||
| Q1 24 | $2.7B | $-4.3M |
自由现金流BKNGHNI
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $135.6M | ||
| Q2 25 | $3.1B | $16.1M | ||
| Q1 25 | $3.2B | $-3.7M | ||
| Q4 24 | $645.0M | $41.5M | ||
| Q3 24 | $2.3B | $114.0M | ||
| Q2 24 | $2.4B | $33.8M | ||
| Q1 24 | $2.6B | $-15.5M |
自由现金流率BKNGHNI
| Q4 25 | 22.3% | — | ||
| Q3 25 | 15.2% | 19.8% | ||
| Q2 25 | 46.1% | 2.4% | ||
| Q1 25 | 66.4% | -0.6% | ||
| Q4 24 | 11.8% | 6.5% | ||
| Q3 24 | 28.7% | 17.0% | ||
| Q2 24 | 40.6% | 5.4% | ||
| Q1 24 | 58.3% | -2.6% |
资本支出强度BKNGHNI
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | 2.9% | ||
| Q2 25 | 0.9% | 2.2% | ||
| Q1 25 | 2.5% | 2.7% | ||
| Q4 24 | 1.4% | 1.5% | ||
| Q3 24 | 1.0% | 2.2% | ||
| Q2 24 | 2.5% | 2.8% | ||
| Q1 24 | 2.9% | 1.9% |
现金转化率BKNGHNI
| Q4 25 | — | — | ||
| Q3 25 | — | 3.77× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | — | 2.71× | ||
| Q2 24 | — | 1.43× | ||
| Q1 24 | — | -0.24× |
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% |
HNI
| Systems Storage And Table | $309.9M | 45% |
| Residential Building Products | $166.9M | 24% |
| Seating Products | $161.1M | 24% |
| Other Products | $45.9M | 7% |
