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缤客控股（BKNG）与KOHLS Corp（KSS）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KOHLS Corp的1.8倍（$6.3B vs $3.6B）。缤客控股同比增速更快（16.0% vs -3.6%）。缤客控股自由现金流更多（$1.4B vs $16.0M）。过去两年缤客控股的营收复合增速更高（19.9% vs -22.5%）
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。
科尔士（Kohl's）是美国知名连锁百货零售商，目前在全美除夏威夷外的各州共开设1174家门店。品牌由波兰移民麦克斯韦·科尔创立，1927年他在威斯康星州密尔沃基开设了一家街角杂货店，在当地发展为成功的连锁品牌后，1962年公司开设首家百货门店，正式进军百货零售领域。
BKNG vs KSS — 直观对比
营收规模更大
BKNG
是对方的1.8倍
$3.6B
营收增速更快
BKNG
高出19.7%
-3.6%
自由现金流更多
BKNG
多$1.4B
$16.0M
两年增速更快
BKNG
近两年复合增速
-22.5%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $3.6B |
| 净利润 | — | $8.0M |
| 毛利率 | — | 42.4% |
| 营业利润率 | 32.0% | 2.0% |
| 净利率 | — | 0.2% |
| 营收同比 | 16.0% | -3.6% |
| 净利润同比 | — | -63.6% |
| 每股收益（稀释后） | $43.66 | $0.07 |
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BKNGKSS
| Q4 25 | $6.3B | $3.6B | ||
| Q3 25 | $9.0B | $3.5B | ||
| Q2 25 | $6.8B | $3.2B | ||
| Q1 25 | $4.8B | $5.4B | ||
| Q4 24 | $5.5B | $3.7B | ||
| Q3 24 | $8.0B | $3.7B | ||
| Q2 24 | $5.9B | $3.4B | ||
| Q1 24 | $4.4B | $6.0B |
净利润BKNGKSS
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | — | $-15.0M | ||
| Q1 25 | — | $48.0M | ||
| Q4 24 | — | $22.0M | ||
| Q3 24 | — | $66.0M | ||
| Q2 24 | — | $-27.0M | ||
| Q1 24 | — | $186.0M |
毛利率BKNGKSS
| Q4 25 | — | 42.4% | ||
| Q3 25 | — | 43.3% | ||
| Q2 25 | — | 43.3% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 42.4% | ||
| Q3 24 | — | 43.0% | ||
| Q2 24 | — | 43.1% | ||
| Q1 24 | — | 35.2% |
营业利润率BKNGKSS
| Q4 25 | 32.0% | 2.0% | ||
| Q3 25 | 38.7% | 7.9% | ||
| Q2 25 | 33.1% | 1.9% | ||
| Q1 25 | 22.3% | 2.3% | ||
| Q4 24 | 31.6% | 2.6% | ||
| Q3 24 | 39.8% | 4.4% | ||
| Q2 24 | 31.7% | 1.3% | ||
| Q1 24 | 17.9% | 5.0% |
净利率BKNGKSS
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | -0.5% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | 3.1% |
每股收益（稀释后）BKNGKSS
| Q4 25 | $43.66 | $0.07 | ||
| Q3 25 | $84.41 | $1.35 | ||
| Q2 25 | $27.43 | $-0.13 | ||
| Q1 25 | $10.07 | $0.43 | ||
| Q4 24 | $31.60 | $0.20 | ||
| Q3 24 | $74.34 | $0.59 | ||
| Q2 24 | $44.38 | $-0.24 | ||
| Q1 24 | $22.37 | $1.67 |
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 | $144.0M |
| 总债务越低越好 | $18.7B | — |
| 股东权益账面价值 | $-5.6B | $3.9B |
| 总资产 | $29.3B | $14.1B |
| 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BKNGKSS
| Q4 25 | $17.2B | $144.0M | ||
| Q3 25 | $16.5B | $174.0M | ||
| Q2 25 | $17.6B | $153.0M | ||
| Q1 25 | $15.6B | $134.0M | ||
| Q4 24 | $16.2B | $174.0M | ||
| Q3 24 | $15.8B | $231.0M | ||
| Q2 24 | $16.3B | $228.0M | ||
| Q1 24 | $16.0B | $183.0M |
总债务BKNGKSS
| 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BKNGKSS
| Q4 25 | $-5.6B | $3.9B | ||
| Q3 25 | $-4.7B | $3.9B | ||
| Q2 25 | $-6.7B | $3.8B | ||
| Q1 25 | $-6.1B | $3.8B | ||
| Q4 24 | $-4.0B | $3.8B | ||
| Q3 24 | $-3.7B | $3.8B | ||
| Q2 24 | $-4.3B | $3.8B | ||
| Q1 24 | $-4.1B | $3.9B |
总资产BKNGKSS
| Q4 25 | $29.3B | $14.1B | ||
| Q3 25 | $28.8B | $13.4B | ||
| Q2 25 | $30.7B | $13.6B | ||
| Q1 25 | $27.2B | $13.6B | ||
| Q4 24 | $27.7B | $15.1B | ||
| Q3 24 | $28.0B | $14.2B | ||
| Q2 24 | $28.5B | $14.3B | ||
| Q1 24 | $27.7B | $14.0B |
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 | $124.0M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $16.0M |
| 自由现金流率自由现金流/营收 | 22.3% | 0.4% |
| 资本支出强度资本支出/营收 | 1.1% | 3.0% |
| 现金转化率经营现金流/净利润 | — | 15.50× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $819.0M |
8季度趋势，按日历期对齐
经营现金流BKNGKSS
| Q4 25 | $1.5B | $124.0M | ||
| Q3 25 | $1.4B | $598.0M | ||
| Q2 25 | $3.2B | $-92.0M | ||
| Q1 25 | $3.3B | $596.0M | ||
| Q4 24 | $721.0M | $-195.0M | ||
| Q3 24 | $2.4B | $254.0M | ||
| Q2 24 | $2.5B | $-7.0M | ||
| Q1 24 | $2.7B | $789.0M |
自由现金流BKNGKSS
| Q4 25 | $1.4B | $16.0M | ||
| Q3 25 | $1.4B | $508.0M | ||
| Q2 25 | $3.1B | $-202.0M | ||
| Q1 25 | $3.2B | $497.0M | ||
| Q4 24 | $645.0M | $-323.0M | ||
| Q3 24 | $2.3B | $141.0M | ||
| Q2 24 | $2.4B | $-133.0M | ||
| Q1 24 | $2.6B | $707.0M |
自由现金流率BKNGKSS
| Q4 25 | 22.3% | 0.4% | ||
| Q3 25 | 15.2% | 14.3% | ||
| Q2 25 | 46.1% | -6.2% | ||
| Q1 25 | 66.4% | 9.2% | ||
| Q4 24 | 11.8% | -8.7% | ||
| Q3 24 | 28.7% | 3.8% | ||
| Q2 24 | 40.6% | -3.9% | ||
| Q1 24 | 58.3% | 11.9% |
资本支出强度BKNGKSS
| Q4 25 | 1.1% | 3.0% | ||
| Q3 25 | 0.7% | 2.5% | ||
| Q2 25 | 0.9% | 3.4% | ||
| Q1 25 | 2.5% | 1.8% | ||
| Q4 24 | 1.4% | 3.5% | ||
| Q3 24 | 1.0% | 3.0% | ||
| Q2 24 | 2.5% | 3.7% | ||
| Q1 24 | 2.9% | 1.4% |
现金转化率BKNGKSS
| Q4 25 | — | 15.50× | ||
| Q3 25 | — | 3.91× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 12.42× | ||
| Q4 24 | — | -8.86× | ||
| Q3 24 | — | 3.85× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 4.24× |
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% |
KSS
| Products | $3.4B | 95% |
| Other | $168.0M | 5% |
| Gift Card | $17.0M | 0% |
