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缤客控股（BKNG）与捷普（JBL）财务数据对比。点击上方公司名可切换其他公司
捷普的季度营收约是缤客控股的1.3倍（$8.3B vs $6.3B），捷普同比增速更快（18.7% vs 16.0%），缤客控股自由现金流更多（$1.4B vs $228.0M），过去两年缤客控股的营收复合增速更高（19.9% vs 10.8%）
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。
捷普（Jabil Inc.）是美国跨国制造企业，业务涵盖电子电路板组件及系统的设计、研发与生产，同时提供供应链服务，核心客户以原始设备制造商（OEM）为主。公司总部位于佛罗里达州圣彼得堡Gateway区域，是坦帕湾地区规模最大的企业之一。
BKNG vs JBL — 直观对比
营收规模更大
JBL
是对方的1.3倍
$6.3B
营收增速更快
JBL
高出2.7%
16.0%
自由现金流更多
BKNG
多$1.2B
$228.0M
两年增速更快
BKNG
近两年复合增速
10.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $8.3B |
| 净利润 | — | $146.0M |
| 毛利率 | — | 8.9% |
| 营业利润率 | 32.0% | 3.4% |
| 净利率 | — | 1.8% |
| 营收同比 | 16.0% | 18.7% |
| 净利润同比 | — | 46.0% |
| 每股收益（稀释后） | $43.66 | $1.35 |
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BKNGJBL
| Q4 25 | $6.3B | $8.3B | ||
| Q3 25 | $9.0B | $8.3B | ||
| Q2 25 | $6.8B | $7.8B | ||
| Q1 25 | $4.8B | $6.7B | ||
| Q4 24 | $5.5B | $7.0B | ||
| Q3 24 | $8.0B | $7.0B | ||
| Q2 24 | $5.9B | $6.8B | ||
| Q1 24 | $4.4B | $6.8B |
净利润BKNGJBL
| Q4 25 | — | $146.0M | ||
| Q3 25 | — | $218.0M | ||
| Q2 25 | — | $222.0M | ||
| Q1 25 | — | $117.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $138.0M | ||
| Q2 24 | — | $129.0M | ||
| Q1 24 | — | $927.0M |
毛利率BKNGJBL
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 8.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 9.5% | ||
| Q2 24 | — | 9.0% | ||
| Q1 24 | — | 9.3% |
营业利润率BKNGJBL
| Q4 25 | 32.0% | 3.4% | ||
| Q3 25 | 38.7% | 4.1% | ||
| Q2 25 | 33.1% | 5.1% | ||
| Q1 25 | 22.3% | 3.6% | ||
| Q4 24 | 31.6% | 2.8% | ||
| Q3 24 | 39.8% | 4.6% | ||
| Q2 24 | 31.7% | 3.9% | ||
| Q1 24 | 17.9% | 16.7% |
净利率BKNGJBL
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 13.7% |
每股收益（稀释后）BKNGJBL
| Q4 25 | $43.66 | $1.35 | ||
| Q3 25 | $84.41 | $1.95 | ||
| Q2 25 | $27.43 | $2.03 | ||
| Q1 25 | $10.07 | $1.06 | ||
| Q4 24 | $31.60 | $0.88 | ||
| Q3 24 | $74.34 | $1.33 | ||
| Q2 24 | $44.38 | $1.06 | ||
| Q1 24 | $22.37 | $7.31 |
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 | $1.6B |
| 总债务越低越好 | $18.7B | $2.9B |
| 股东权益账面价值 | $-5.6B | $1.3B |
| 总资产 | $29.3B | $19.3B |
| 负债/权益比越低杠杆越低 | — | 2.15× |
8季度趋势，按日历期对齐
现金及短期投资BKNGJBL
| Q4 25 | $17.2B | $1.6B | ||
| Q3 25 | $16.5B | $1.9B | ||
| Q2 25 | $17.6B | $1.5B | ||
| Q1 25 | $15.6B | $1.6B | ||
| Q4 24 | $16.2B | $2.1B | ||
| Q3 24 | $15.8B | $2.2B | ||
| Q2 24 | $16.3B | $2.5B | ||
| Q1 24 | $16.0B | $2.6B |
总债务BKNGJBL
| Q4 25 | $18.7B | $2.9B | ||
| Q3 25 | $17.0B | $2.9B | ||
| Q2 25 | $18.5B | $2.9B | ||
| Q1 25 | $16.0B | $2.9B | ||
| Q4 24 | $16.6B | $2.9B | ||
| Q3 24 | $16.2B | $2.9B | ||
| Q2 24 | $16.8B | $2.9B | ||
| Q1 24 | $16.9B | $2.9B |
股东权益BKNGJBL
| Q4 25 | $-5.6B | $1.3B | ||
| Q3 25 | $-4.7B | $1.5B | ||
| Q2 25 | $-6.7B | $1.3B | ||
| Q1 25 | $-6.1B | $1.4B | ||
| Q4 24 | $-4.0B | $1.6B | ||
| Q3 24 | $-3.7B | $1.7B | ||
| Q2 24 | $-4.3B | $2.3B | ||
| Q1 24 | $-4.1B | $2.7B |
总资产BKNGJBL
| Q4 25 | $29.3B | $19.3B | ||
| Q3 25 | $28.8B | $18.5B | ||
| Q2 25 | $30.7B | $18.6B | ||
| Q1 25 | $27.2B | $17.4B | ||
| Q4 24 | $27.7B | $17.8B | ||
| Q3 24 | $28.0B | $17.4B | ||
| Q2 24 | $28.5B | $17.4B | ||
| Q1 24 | $27.7B | $17.1B |
负债/权益比BKNGJBL
| Q4 25 | — | 2.15× | ||
| Q3 25 | — | 1.91× | ||
| Q2 25 | — | 2.24× | ||
| Q1 25 | — | 2.12× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.26× | ||
| Q1 24 | — | 1.08× |
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 | $323.0M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $228.0M |
| 自由现金流率自由现金流/营收 | 22.3% | 2.7% |
| 资本支出强度资本支出/营收 | 1.1% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $1.2B |
8季度趋势，按日历期对齐
经营现金流BKNGJBL
| Q4 25 | $1.5B | $323.0M | ||
| Q3 25 | $1.4B | $588.0M | ||
| Q2 25 | $3.2B | $406.0M | ||
| Q1 25 | $3.3B | $334.0M | ||
| Q4 24 | $721.0M | $312.0M | ||
| Q3 24 | $2.4B | $535.0M | ||
| Q2 24 | $2.5B | $515.0M | ||
| Q1 24 | $2.7B | $218.0M |
自由现金流BKNGJBL
| Q4 25 | $1.4B | $228.0M | ||
| Q3 25 | $1.4B | $419.0M | ||
| Q2 25 | $3.1B | $320.0M | ||
| Q1 25 | $3.2B | $218.0M | ||
| Q4 24 | $645.0M | $215.0M | ||
| Q3 24 | $2.3B | $411.0M | ||
| Q2 24 | $2.4B | $409.0M | ||
| Q1 24 | $2.6B | $-48.0M |
自由现金流率BKNGJBL
| Q4 25 | 22.3% | 2.7% | ||
| Q3 25 | 15.2% | 5.1% | ||
| Q2 25 | 46.1% | 4.1% | ||
| Q1 25 | 66.4% | 3.2% | ||
| Q4 24 | 11.8% | 3.1% | ||
| Q3 24 | 28.7% | 5.9% | ||
| Q2 24 | 40.6% | 6.0% | ||
| Q1 24 | 58.3% | -0.7% |
资本支出强度BKNGJBL
| Q4 25 | 1.1% | 1.1% | ||
| Q3 25 | 0.7% | 2.0% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 2.5% | 1.7% | ||
| Q4 24 | 1.4% | 1.4% | ||
| Q3 24 | 1.0% | 1.8% | ||
| Q2 24 | 2.5% | 1.6% | ||
| Q1 24 | 2.9% | 3.9% |
现金转化率BKNGJBL
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 2.70× | ||
| Q2 25 | — | 1.83× | ||
| Q1 25 | — | 2.85× | ||
| Q4 24 | — | 3.12× | ||
| Q3 24 | — | 3.88× | ||
| Q2 24 | — | 3.99× | ||
| 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% |
JBL
| Intelligent Infrastructure | $4.0B | 49% |
| Transferred Over Time | $2.9B | 35% |
| Connected Living And Digital Commerce | $1.2B | 15% |
| Transferred At Point In Time | $127.0M | 2% |
