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博士伦（BLCO）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
博士伦的季度营收约是Ryman Hospitality Properties, Inc.的1.9倍（$1.4B vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -4.1%，领先14.2%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 9.8%），博士伦自由现金流更多（$60.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 13.1%）
博士伦是知名眼健康产品企业，总部位于加拿大安大略省沃恩市，是全球规模最大的隐形眼镜、镜片护理产品、眼科药品、人工晶体及其他眼科手术产品供应商之一。品牌1853年由验光师约翰·鲍什与合伙人亨利·朗姆在美国纽约罗切斯特创立，曾是美国历史最悠久的持续运营企业之一，2013年被整体收购。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
BLCO vs RHP — 直观对比
营收规模更大
BLCO
是对方的1.9倍
$737.8M
营收增速更快
RHP
高出4.2%
9.8%
净利率更高
RHP
高出14.2%
-4.1%
自由现金流更多
BLCO
多$1.5M
$58.5M
两年增速更快
RHP
近两年复合增速
13.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $737.8M |
| 净利润 | $-58.0M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 8.0% | 19.4% |
| 净利率 | -4.1% | 10.1% |
| 营收同比 | 9.8% | 13.9% |
| 净利润同比 | -1833.3% | 3.0% |
| 每股收益（稀释后） | $-0.16 | $1.12 |
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BLCORHP
| Q4 25 | $1.4B | $737.8M | ||
| Q3 25 | $1.3B | $592.5M | ||
| Q2 25 | $1.3B | $659.5M | ||
| Q1 25 | $1.1B | $587.3M | ||
| Q4 24 | $1.3B | $647.6M | ||
| Q3 24 | $1.2B | $550.0M | ||
| Q2 24 | $1.2B | $613.3M | ||
| Q1 24 | $1.1B | $528.3M |
净利润BLCORHP
| Q4 25 | $-58.0M | $74.5M | ||
| Q3 25 | $-28.0M | $34.9M | ||
| Q2 25 | $-62.0M | $71.8M | ||
| Q1 25 | $-212.0M | $63.0M | ||
| Q4 24 | $-3.0M | $72.3M | ||
| Q3 24 | $4.0M | $59.0M | ||
| Q2 24 | $-151.0M | $100.8M | ||
| Q1 24 | $-167.0M | $42.8M |
毛利率BLCORHP
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 41.5% |
营业利润率BLCORHP
| Q4 25 | 8.0% | 19.4% | ||
| Q3 25 | 7.4% | 15.0% | ||
| Q2 25 | -0.9% | 21.1% | ||
| Q1 25 | -7.3% | 19.8% | ||
| Q4 24 | 6.8% | 18.6% | ||
| Q3 24 | 3.6% | 19.3% | ||
| Q2 24 | 2.1% | 27.4% | ||
| Q1 24 | 0.5% | 18.2% |
净利率BLCORHP
| Q4 25 | -4.1% | 10.1% | ||
| Q3 25 | -2.2% | 5.9% | ||
| Q2 25 | -4.9% | 10.9% | ||
| Q1 25 | -18.6% | 10.7% | ||
| Q4 24 | -0.2% | 11.2% | ||
| Q3 24 | 0.3% | 10.7% | ||
| Q2 24 | -12.4% | 16.4% | ||
| Q1 24 | -15.2% | 8.1% |
每股收益（稀释后）BLCORHP
| Q4 25 | $-0.16 | $1.12 | ||
| Q3 25 | $-0.08 | $0.53 | ||
| Q2 25 | $-0.18 | $1.12 | ||
| Q1 25 | $-0.60 | $1.00 | ||
| Q4 24 | $-0.00 | $1.12 | ||
| Q3 24 | $0.01 | $0.94 | ||
| Q2 24 | $-0.43 | $1.65 | ||
| Q1 24 | $-0.48 | $0.67 |
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 | $383.0M | $471.4M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $6.4B | $750.2M |
| 总资产 | $14.0B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.78× | — |
8季度趋势，按日历期对齐
现金及短期投资BLCORHP
| Q4 25 | $383.0M | $471.4M | ||
| Q3 25 | $310.0M | $483.3M | ||
| Q2 25 | $266.0M | $420.6M | ||
| Q1 25 | $202.0M | $413.9M | ||
| Q4 24 | $305.0M | $477.7M | ||
| Q3 24 | $329.0M | $534.9M | ||
| Q2 24 | $285.0M | $498.4M | ||
| Q1 24 | $315.0M | $465.3M |
总债务BLCORHP
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $4.6B | — | ||
| Q1 24 | $4.6B | — |
股东权益BLCORHP
| Q4 25 | $6.4B | $750.2M | ||
| Q3 25 | $6.4B | $758.5M | ||
| Q2 25 | $6.4B | $800.4M | ||
| Q1 25 | $6.4B | $531.5M | ||
| Q4 24 | $6.5B | $549.0M | ||
| Q3 24 | $6.6B | $551.9M | ||
| Q2 24 | $6.5B | $562.6M | ||
| Q1 24 | $6.7B | $529.9M |
总资产BLCORHP
| Q4 25 | $14.0B | $6.2B | ||
| Q3 25 | $13.8B | $6.2B | ||
| Q2 25 | $13.8B | $6.1B | ||
| Q1 25 | $13.4B | $5.2B | ||
| Q4 24 | $13.5B | $5.2B | ||
| Q3 24 | $13.5B | $5.2B | ||
| Q2 24 | $13.3B | $5.1B | ||
| Q1 24 | $13.3B | $5.1B |
负债/权益比BLCORHP
| Q4 25 | 0.78× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.76× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.69× | — |
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 | $136.0M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $60.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 4.3% | 7.9% |
| 资本支出强度资本支出/营收 | 5.4% | 14.4% |
| 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 | $-66.0M | $232.4M |
8季度趋势，按日历期对齐
经营现金流BLCORHP
| Q4 25 | $136.0M | $164.7M | ||
| Q3 25 | $137.0M | $205.2M | ||
| Q2 25 | $35.0M | $122.5M | ||
| Q1 25 | $-25.0M | $98.2M | ||
| Q4 24 | $22.0M | $166.6M | ||
| Q3 24 | $154.0M | $218.1M | ||
| Q2 24 | $15.0M | $184.3M | ||
| Q1 24 | $41.0M | $7.5M |
自由现金流BLCORHP
| Q4 25 | $60.0M | $58.5M | ||
| Q3 25 | $63.0M | $135.4M | ||
| Q2 25 | $-54.0M | $53.0M | ||
| Q1 25 | $-135.0M | $-14.5M | ||
| Q4 24 | $-70.0M | $76.0M | ||
| Q3 24 | $94.0M | $85.7M | ||
| Q2 24 | $-57.0M | $78.8M | ||
| Q1 24 | $-26.0M | $-72.0M |
自由现金流率BLCORHP
| Q4 25 | 4.3% | 7.9% | ||
| Q3 25 | 4.9% | 22.9% | ||
| Q2 25 | -4.2% | 8.0% | ||
| Q1 25 | -11.9% | -2.5% | ||
| Q4 24 | -5.5% | 11.7% | ||
| Q3 24 | 7.9% | 15.6% | ||
| Q2 24 | -4.7% | 12.9% | ||
| Q1 24 | -2.4% | -13.6% |
资本支出强度BLCORHP
| Q4 25 | 5.4% | 14.4% | ||
| Q3 25 | 5.8% | 11.8% | ||
| Q2 25 | 7.0% | 10.5% | ||
| Q1 25 | 9.7% | 19.2% | ||
| Q4 24 | 7.2% | 14.0% | ||
| Q3 24 | 5.0% | 24.1% | ||
| Q2 24 | 5.9% | 17.2% | ||
| Q1 24 | 6.1% | 15.0% |
现金转化率BLCORHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | 38.50× | 3.70× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | — | 0.17× |
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
BLCO
| Overthe Counter Products | $489.0M | 35% |
| Pharmaceuticals | $378.0M | 27% |
| Other | $263.0M | 19% |
| Surgical | $249.0M | 18% |
| Brandedand Other Generic Products | $14.0M | 1% |
| Other Revenues | $3.0M | 0% |
| Pharmaceutical Products | $2.0M | 0% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
