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缤客控股（BKNG）与渥弗林（WWW）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渥弗林的12.3倍（$6.3B vs $517.5M）。渥弗林同比增速更快（25.5% vs 16.0%）。缤客控股自由现金流更多（$1.4B vs $145.6M）。过去两年缤客控股的营收复合增速更高（19.9% vs 14.5%）
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。
渥弗林是一家国际知名的鞋履、服饰及配饰设计、生产与销售企业，旗下拥有迈乐、斯佩里、索康尼、暇步士等多个知名品牌，覆盖户外休闲、日常穿搭、工装、运动等消费领域，产品通过线上线下渠道及批发网络销往全球。
BKNG vs WWW — 直观对比
营收规模更大
BKNG
是对方的12.3倍
$517.5M
营收增速更快
WWW
高出9.5%
16.0%
自由现金流更多
BKNG
多$1.3B
$145.6M
两年增速更快
BKNG
近两年复合增速
14.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $517.5M |
| 净利润 | — | $31.8M |
| 毛利率 | — | 47.3% |
| 营业利润率 | 32.0% | 9.7% |
| 净利率 | — | 6.1% |
| 营收同比 | 16.0% | 25.5% |
| 净利润同比 | — | 162.8% |
| 每股收益（稀释后） | $43.66 | $0.37 |
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BKNGWWW
| Q1 26 | — | $517.5M | ||
| Q4 25 | $6.3B | — | ||
| Q3 25 | $9.0B | $470.3M | ||
| Q2 25 | $6.8B | $474.2M | ||
| Q1 25 | $4.8B | $412.3M | ||
| Q4 24 | $5.5B | $494.7M | ||
| Q3 24 | $8.0B | $440.2M | ||
| Q2 24 | $5.9B | $425.2M |
净利润BKNGWWW
| Q1 26 | — | $31.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $25.1M | ||
| Q2 25 | — | $26.8M | ||
| Q1 25 | — | $12.1M | ||
| Q4 24 | — | $23.1M | ||
| Q3 24 | — | $23.2M | ||
| Q2 24 | — | $13.8M |
毛利率BKNGWWW
| Q1 26 | — | 47.3% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 47.5% | ||
| Q2 25 | — | 47.2% | ||
| Q1 25 | — | 47.2% | ||
| Q4 24 | — | 43.4% | ||
| Q3 24 | — | 45.1% | ||
| Q2 24 | — | 43.1% |
营业利润率BKNGWWW
| Q1 26 | — | 9.7% | ||
| Q4 25 | 32.0% | — | ||
| Q3 25 | 38.7% | 8.4% | ||
| Q2 25 | 33.1% | 8.6% | ||
| Q1 25 | 22.3% | 4.8% | ||
| Q4 24 | 31.6% | 7.4% | ||
| Q3 24 | 39.8% | 7.9% | ||
| Q2 24 | 31.7% | 6.8% |
净利率BKNGWWW
| Q1 26 | — | 6.1% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 3.2% |
每股收益（稀释后）BKNGWWW
| Q1 26 | — | $0.37 | ||
| Q4 25 | $43.66 | — | ||
| Q3 25 | $84.41 | $0.30 | ||
| Q2 25 | $27.43 | $0.32 | ||
| Q1 25 | $10.07 | $0.15 | ||
| Q4 24 | $31.60 | $0.29 | ||
| Q3 24 | $74.34 | $0.28 | ||
| Q2 24 | $44.38 | $0.17 |
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 | — |
| 总债务越低越好 | $18.7B | $621.7M |
| 股东权益账面价值 | $-5.6B | $408.0M |
| 总资产 | $29.3B | $1.7B |
| 负债/权益比越低杠杆越低 | — | 1.52× |
8季度趋势，按日历期对齐
现金及短期投资BKNGWWW
| Q1 26 | — | — | ||
| Q4 25 | $17.2B | — | ||
| Q3 25 | $16.5B | — | ||
| Q2 25 | $17.6B | — | ||
| Q1 25 | $15.6B | — | ||
| Q4 24 | $16.2B | — | ||
| Q3 24 | $15.8B | — | ||
| Q2 24 | $16.3B | — |
总债务BKNGWWW
| Q1 26 | — | $621.7M | ||
| Q4 25 | $18.7B | — | ||
| Q3 25 | $17.0B | $676.4M | ||
| Q2 25 | $18.5B | $708.5M | ||
| Q1 25 | $16.0B | $710.8M | ||
| Q4 24 | $16.6B | $648.0M | ||
| Q3 24 | $16.2B | $702.8M | ||
| Q2 24 | $16.8B | $814.7M |
股东权益BKNGWWW
| Q1 26 | — | $408.0M | ||
| Q4 25 | $-5.6B | — | ||
| Q3 25 | $-4.7B | $376.7M | ||
| Q2 25 | $-6.7B | $344.0M | ||
| Q1 25 | $-6.1B | $310.6M | ||
| Q4 24 | $-4.0B | $312.9M | ||
| Q3 24 | $-3.7B | $295.2M | ||
| Q2 24 | $-4.3B | $262.1M |
总资产BKNGWWW
| Q1 26 | — | $1.7B | ||
| Q4 25 | $29.3B | — | ||
| Q3 25 | $28.8B | $1.7B | ||
| Q2 25 | $30.7B | $1.8B | ||
| Q1 25 | $27.2B | $1.7B | ||
| Q4 24 | $27.7B | $1.7B | ||
| Q3 24 | $28.0B | $1.8B | ||
| Q2 24 | $28.5B | $1.8B |
负债/权益比BKNGWWW
| Q1 26 | — | 1.52× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.29× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 2.38× | ||
| Q2 24 | — | 3.11× |
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 | $146.2M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | $145.6M |
| 自由现金流率自由现金流/营收 | 22.3% | 28.1% |
| 资本支出强度资本支出/营收 | 1.1% | 0.1% |
| 现金转化率经营现金流/净利润 | — | 4.60× |
| 过去12个月自由现金流最近4个季度 | $9.1B | $125.5M |
8季度趋势，按日历期对齐
经营现金流BKNGWWW
| Q1 26 | — | $146.2M | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $33.0M | ||
| Q2 25 | $3.2B | $44.6M | ||
| Q1 25 | $3.3B | $-83.8M | ||
| Q4 24 | $721.0M | $82.4M | ||
| Q3 24 | $2.4B | $108.2M | ||
| Q2 24 | $2.5B | $26.7M |
自由现金流BKNGWWW
| Q1 26 | — | $145.6M | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $30.1M | ||
| Q2 25 | $3.1B | $41.2M | ||
| Q1 25 | $3.2B | $-91.4M | ||
| Q4 24 | $645.0M | $74.4M | ||
| Q3 24 | $2.3B | $104.1M | ||
| Q2 24 | $2.4B | $23.7M |
自由现金流率BKNGWWW
| Q1 26 | — | 28.1% | ||
| Q4 25 | 22.3% | — | ||
| Q3 25 | 15.2% | 6.4% | ||
| Q2 25 | 46.1% | 8.7% | ||
| Q1 25 | 66.4% | -22.2% | ||
| Q4 24 | 11.8% | 15.0% | ||
| Q3 24 | 28.7% | 23.6% | ||
| Q2 24 | 40.6% | 5.6% |
资本支出强度BKNGWWW
| Q1 26 | — | 0.1% | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | 0.6% | ||
| Q2 25 | 0.9% | 0.7% | ||
| Q1 25 | 2.5% | 1.8% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 1.0% | 0.9% | ||
| Q2 24 | 2.5% | 0.7% |
现金转化率BKNGWWW
| Q1 26 | — | 4.60× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 1.66× | ||
| Q1 25 | — | -6.93× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 4.66× | ||
| Q2 24 | — | 1.93× |
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% |
WWW
| Sales Channel Through Intermediary | $230.2M | 44% |
| Sales Channel Directly To Consumer | $142.6M | 28% |
| Work Group | $134.0M | 26% |
| Other | $10.7M | 2% |
