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缤客控股（BKNG）与梯瓦制药（TEVA）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梯瓦制药的1.3倍（$6.3B vs $4.7B），缤客控股同比增速更快（16.0% vs 11.4%），缤客控股自由现金流更多（$1.4B vs $1.0B），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。
梯瓦制药工业有限公司是以色列跨国制药企业，核心业务聚焦仿制药研发生产，同时布局品牌药、药用活性成分（API）业务，也小范围开展合同生产服务及对外授权合作相关业务。
BKNG vs TEVA — 直观对比
营收规模更大
BKNG
是对方的1.3倍
$4.7B
营收增速更快
BKNG
高出4.7%
11.4%
自由现金流更多
BKNG
多$401.0M
$1.0B
两年增速更快
BKNG
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $4.7B |
| 净利润 | — | $481.0M |
| 毛利率 | — | 56.4% |
| 营业利润率 | 32.0% | 6.4% |
| 净利率 | — | 10.2% |
| 营收同比 | 16.0% | 11.4% |
| 净利润同比 | — | 321.7% |
| 每股收益（稀释后） | $43.66 | $0.42 |
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BKNGTEVA
| Q4 25 | $6.3B | $4.7B | ||
| Q3 25 | $9.0B | $4.5B | ||
| Q2 25 | $6.8B | $4.2B | ||
| Q1 25 | $4.8B | $3.9B | ||
| Q4 24 | $5.5B | $4.2B | ||
| Q3 24 | $8.0B | $4.3B | ||
| Q2 24 | $5.9B | $4.2B | ||
| Q1 24 | $4.4B | $3.8B |
净利润BKNGTEVA
| Q4 25 | — | $481.0M | ||
| Q3 25 | — | $433.0M | ||
| Q2 25 | — | $282.0M | ||
| Q1 25 | — | $214.0M | ||
| Q4 24 | — | $-217.0M | ||
| Q3 24 | — | $-437.0M | ||
| Q2 24 | — | $-846.0M | ||
| Q1 24 | — | $-139.0M |
毛利率BKNGTEVA
| Q4 25 | — | 56.4% | ||
| Q3 25 | — | 51.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 48.2% | ||
| Q4 24 | — | 50.2% | ||
| Q3 24 | — | 49.6% | ||
| Q2 24 | — | 48.6% | ||
| Q1 24 | — | 46.4% |
营业利润率BKNGTEVA
| Q4 25 | 32.0% | 6.4% | ||
| Q3 25 | 38.7% | 19.7% | ||
| Q2 25 | 33.1% | 10.9% | ||
| Q1 25 | 22.3% | 13.3% | ||
| Q4 24 | 31.6% | -0.7% | ||
| Q3 24 | 39.8% | -1.2% | ||
| Q2 24 | 31.7% | -0.1% | ||
| Q1 24 | 17.9% | -5.7% |
净利率BKNGTEVA
| Q4 25 | — | 10.2% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 6.8% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | -5.1% | ||
| Q3 24 | — | -10.1% | ||
| Q2 24 | — | -20.3% | ||
| Q1 24 | — | -3.6% |
每股收益（稀释后）BKNGTEVA
| Q4 25 | $43.66 | $0.42 | ||
| Q3 25 | $84.41 | $0.37 | ||
| Q2 25 | $27.43 | $0.24 | ||
| Q1 25 | $10.07 | $0.18 | ||
| Q4 24 | $31.60 | $-0.19 | ||
| Q3 24 | $74.34 | $-0.39 | ||
| Q2 24 | $44.38 | $-0.75 | ||
| Q1 24 | $22.37 | $-0.12 |
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 | $3.6B |
| 总债务越低越好 | $18.7B | — |
| 股东权益账面价值 | $-5.6B | $7.9B |
| 总资产 | $29.3B | $40.7B |
| 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BKNGTEVA
| Q4 25 | $17.2B | $3.6B | ||
| Q3 25 | $16.5B | $2.2B | ||
| Q2 25 | $17.6B | $2.2B | ||
| Q1 25 | $15.6B | $1.7B | ||
| Q4 24 | $16.2B | $3.3B | ||
| Q3 24 | $15.8B | $3.3B | ||
| Q2 24 | $16.3B | $2.3B | ||
| Q1 24 | $16.0B | $3.0B |
总债务BKNGTEVA
| 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BKNGTEVA
| Q4 25 | $-5.6B | $7.9B | ||
| Q3 25 | $-4.7B | $7.3B | ||
| Q2 25 | $-6.7B | $6.8B | ||
| Q1 25 | $-6.1B | $6.3B | ||
| Q4 24 | $-4.0B | $5.4B | ||
| Q3 24 | $-3.7B | $6.1B | ||
| Q2 24 | $-4.3B | $6.4B | ||
| Q1 24 | $-4.1B | $7.3B |
总资产BKNGTEVA
| Q4 25 | $29.3B | $40.7B | ||
| Q3 25 | $28.8B | $39.9B | ||
| Q2 25 | $30.7B | $40.1B | ||
| Q1 25 | $27.2B | $38.4B | ||
| Q4 24 | $27.7B | $39.3B | ||
| Q3 24 | $28.0B | $41.8B | ||
| Q2 24 | $28.5B | $41.3B | ||
| Q1 24 | $27.7B | $42.8B |
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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $1.0B |
| 自由现金流率自由现金流/营收 | 22.3% | 21.6% |
| 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 | — | 2.41× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $1.1B |
8季度趋势，按日历期对齐
经营现金流BKNGTEVA
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.4B | $369.0M | ||
| Q2 25 | $3.2B | $227.0M | ||
| Q1 25 | $3.3B | $-105.0M | ||
| Q4 24 | $721.0M | $575.0M | ||
| Q3 24 | $2.4B | $693.0M | ||
| Q2 24 | $2.5B | $103.0M | ||
| Q1 24 | $2.7B | $-124.0M |
自由现金流BKNGTEVA
| Q4 25 | $1.4B | $1.0B | ||
| Q3 25 | $1.4B | $233.0M | ||
| Q2 25 | $3.1B | $131.0M | ||
| Q1 25 | $3.2B | $-232.0M | ||
| Q4 24 | $645.0M | $446.0M | ||
| Q3 24 | $2.3B | $545.0M | ||
| Q2 24 | $2.4B | $6.0M | ||
| Q1 24 | $2.6B | $-248.0M |
自由现金流率BKNGTEVA
| Q4 25 | 22.3% | 21.6% | ||
| Q3 25 | 15.2% | 5.2% | ||
| Q2 25 | 46.1% | 3.1% | ||
| Q1 25 | 66.4% | -6.0% | ||
| Q4 24 | 11.8% | 10.5% | ||
| Q3 24 | 28.7% | 12.6% | ||
| Q2 24 | 40.6% | 0.1% | ||
| Q1 24 | 58.3% | -6.5% |
资本支出强度BKNGTEVA
| Q4 25 | 1.1% | 3.0% | ||
| Q3 25 | 0.7% | 3.0% | ||
| Q2 25 | 0.9% | 2.3% | ||
| Q1 25 | 2.5% | 3.3% | ||
| Q4 24 | 1.4% | 3.1% | ||
| Q3 24 | 1.0% | 3.4% | ||
| Q2 24 | 2.5% | 2.3% | ||
| Q1 24 | 2.9% | 3.2% |
现金转化率BKNGTEVA
| Q4 25 | — | 2.41× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | -0.49× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
TEVA
| Other | $2.0B | 42% |
| Generics Medicians Including Otc And Biosimilars | $672.0M | 14% |
| Other Products | $608.0M | 13% |
| License | $529.0M | 11% |
| Distribution Service | $366.0M | 8% |
| Other Activities | $227.0M | 5% |
| Ajovy | $106.0M | 2% |
| COPAXONE | $77.0M | 2% |
| Respiratory Product | $65.0M | 1% |
| Uzedy | $55.0M | 1% |
| Bendeka And Treanda | $36.0M | 1% |
