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缤客控股（BKNG）与江森自控（JCI）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江森自控的1.1倍（$6.3B vs $5.8B），缤客控股同比增速更快（16.0% vs 6.8%），缤客控股自由现金流更多（$1.4B vs $531.0M），过去两年缤客控股的营收复合增速更高（19.9% vs -7.0%）
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。
江森自控是总部位于爱尔兰科克的跨国综合企业，专注于为各类建筑提供消防、暖通空调及安防设备，业务覆盖六大洲近2000个地点，2019年中期员工规模达10.5万人，曾位列2017年《财富》全球500强第389位。
BKNG vs JCI — 直观对比
营收规模更大
BKNG
是对方的1.1倍
$5.8B
营收增速更快
BKNG
高出9.2%
6.8%
自由现金流更多
BKNG
多$886.0M
$531.0M
两年增速更快
BKNG
近两年复合增速
-7.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $5.8B |
| 净利润 | — | $524.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | 32.0% | — |
| 净利率 | — | 9.0% |
| 营收同比 | 16.0% | 6.8% |
| 净利润同比 | — | 25.1% |
| 每股收益（稀释后） | $43.66 | $0.85 |
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BKNGJCI
| Q4 25 | $6.3B | $5.8B | ||
| Q3 25 | $9.0B | $6.4B | ||
| Q2 25 | $6.8B | $6.1B | ||
| Q1 25 | $4.8B | $5.7B | ||
| Q4 24 | $5.5B | $5.4B | ||
| Q3 24 | $8.0B | $2.9B | ||
| Q2 24 | $5.9B | $7.2B | ||
| Q1 24 | $4.4B | $6.7B |
净利润BKNGJCI
| Q4 25 | — | $524.0M | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $701.0M | ||
| Q1 25 | — | $478.0M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | — | $633.0M | ||
| Q2 24 | — | $975.0M | ||
| Q1 24 | — | $-277.0M |
毛利率BKNGJCI
| Q4 25 | — | 35.8% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 36.5% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 48.4% | ||
| Q2 24 | — | 34.4% | ||
| Q1 24 | — | 32.6% |
营业利润率BKNGJCI
| Q4 25 | 32.0% | — | ||
| Q3 25 | 38.7% | 5.5% | ||
| Q2 25 | 33.1% | 11.6% | ||
| Q1 25 | 22.3% | 8.8% | ||
| Q4 24 | 31.6% | 7.5% | ||
| Q3 24 | 39.8% | 6.9% | ||
| Q2 24 | 31.7% | 17.7% | ||
| Q1 24 | 17.9% | -5.4% |
净利率BKNGJCI
| Q4 25 | — | 9.0% | ||
| Q3 25 | — | 26.3% | ||
| Q2 25 | — | 11.6% | ||
| Q1 25 | — | 8.4% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 21.6% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | -4.1% |
每股收益（稀释后）BKNGJCI
| Q4 25 | $43.66 | $0.85 | ||
| Q3 25 | $84.41 | $2.61 | ||
| Q2 25 | $27.43 | $1.07 | ||
| Q1 25 | $10.07 | $0.72 | ||
| Q4 24 | $31.60 | $0.63 | ||
| Q3 24 | $74.34 | $0.93 | ||
| Q2 24 | $44.38 | $1.45 | ||
| Q1 24 | $22.37 | $-0.41 |
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 | $552.0M |
| 总债务越低越好 | $18.7B | $8.7B |
| 股东权益账面价值 | $-5.6B | $13.2B |
| 总资产 | $29.3B | $38.0B |
| 负债/权益比越低杠杆越低 | — | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资BKNGJCI
| Q4 25 | $17.2B | $552.0M | ||
| Q3 25 | $16.5B | $379.0M | ||
| Q2 25 | $17.6B | $731.0M | ||
| Q1 25 | $15.6B | $795.0M | ||
| Q4 24 | $16.2B | $1.2B | ||
| Q3 24 | $15.8B | $606.0M | ||
| Q2 24 | $16.3B | $862.0M | ||
| Q1 24 | $16.0B | $843.0M |
总债务BKNGJCI
| Q4 25 | $18.7B | $8.7B | ||
| Q3 25 | $17.0B | $8.6B | ||
| Q2 25 | $18.5B | $8.4B | ||
| Q1 25 | $16.0B | $8.2B | ||
| Q4 24 | $16.6B | $8.6B | ||
| Q3 24 | $16.2B | $8.0B | ||
| Q2 24 | $16.8B | $7.9B | ||
| Q1 24 | $16.9B | $7.3B |
股东权益BKNGJCI
| Q4 25 | $-5.6B | $13.2B | ||
| Q3 25 | $-4.7B | $12.9B | ||
| Q2 25 | $-6.7B | $15.8B | ||
| Q1 25 | $-6.1B | $15.8B | ||
| Q4 24 | $-4.0B | $15.9B | ||
| Q3 24 | $-3.7B | $16.1B | ||
| Q2 24 | $-4.3B | $16.0B | ||
| Q1 24 | $-4.1B | $15.7B |
总资产BKNGJCI
| Q4 25 | $29.3B | $38.0B | ||
| Q3 25 | $28.8B | $37.9B | ||
| Q2 25 | $30.7B | $43.4B | ||
| Q1 25 | $27.2B | $42.4B | ||
| Q4 24 | $27.7B | $42.1B | ||
| Q3 24 | $28.0B | $42.7B | ||
| Q2 24 | $28.5B | $43.3B | ||
| Q1 24 | $27.7B | $43.5B |
负债/权益比BKNGJCI
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | — | 0.54× | ||
| Q3 24 | — | 0.50× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.47× |
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 | $611.0M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $531.0M |
| 自由现金流率自由现金流/营收 | 22.3% | 9.2% |
| 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 | — | 1.17× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $2.5B |
8季度趋势，按日历期对齐
经营现金流BKNGJCI
| Q4 25 | $1.5B | $611.0M | ||
| Q3 25 | $1.4B | $968.0M | ||
| Q2 25 | $3.2B | $787.0M | ||
| Q1 25 | $3.3B | $550.0M | ||
| Q4 24 | $721.0M | $249.0M | ||
| Q3 24 | $2.4B | $1.4B | ||
| Q2 24 | $2.5B | $1.0B | ||
| Q1 24 | $2.7B | $-203.0M |
自由现金流BKNGJCI
| Q4 25 | $1.4B | $531.0M | ||
| Q3 25 | $1.4B | $838.0M | ||
| Q2 25 | $3.1B | $693.0M | ||
| Q1 25 | $3.2B | $456.0M | ||
| Q4 24 | $645.0M | $133.0M | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.4B | $922.0M | ||
| Q1 24 | $2.6B | $-336.0M |
自由现金流率BKNGJCI
| Q4 25 | 22.3% | 9.2% | ||
| Q3 25 | 15.2% | 13.0% | ||
| Q2 25 | 46.1% | 11.5% | ||
| Q1 25 | 66.4% | 8.0% | ||
| Q4 24 | 11.8% | 2.5% | ||
| Q3 24 | 28.7% | 40.4% | ||
| Q2 24 | 40.6% | 12.8% | ||
| Q1 24 | 58.3% | -5.0% |
资本支出强度BKNGJCI
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 0.7% | 2.0% | ||
| Q2 25 | 0.9% | 1.6% | ||
| Q1 25 | 2.5% | 1.7% | ||
| Q4 24 | 1.4% | 2.1% | ||
| Q3 24 | 1.0% | 5.8% | ||
| Q2 24 | 2.5% | 1.4% | ||
| Q1 24 | 2.9% | 2.0% |
现金转化率BKNGJCI
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 2.14× | ||
| Q2 24 | — | 1.05× | ||
| 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% |
JCI
| Productsand Systems | $3.9B | 67% |
| Services | $1.9B | 33% |
