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开利（CARR）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
开利的季度营收约是皇家加勒比集团的1.2倍（$5.3B vs $4.5B），皇家加勒比集团净利率更高（21.3% vs 5.0%，领先16.4%），皇家加勒比集团同比增速更快（11.3% vs 2.4%），过去两年皇家加勒比集团的营收复合增速更高（4.1% vs -10.6%）
开利全球是总部位于美国佛罗里达州棕榈滩花园的跨国企业，成立于1915年，主营暖通空调、制冷、消防及安防设备。公司最初以生产销售暖通空调系统起家，后续逐步拓展业务，覆盖商用制冷、餐饮服务设备及消防安防技术等领域。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
CARR vs RCL — 直观对比
营收规模更大
CARR
是对方的1.2倍
$4.5B
营收增速更快
RCL
高出9.0%
2.4%
净利率更高
RCL
高出16.4%
5.0%
两年增速更快
RCL
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.3B | $4.5B |
| 净利润 | $265.0M | $950.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.8% | 26.1% |
| 净利率 | 5.0% | 21.3% |
| 营收同比 | 2.4% | 11.3% |
| 净利润同比 | -39.4% | 29.1% |
| 每股收益（稀释后） | — | $3.48 |
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CARRRCL
| Q1 26 | $5.3B | $4.5B | ||
| Q4 25 | $4.8B | $4.3B | ||
| Q3 25 | $5.6B | $5.1B | ||
| Q2 25 | $6.1B | $4.5B | ||
| Q1 25 | $5.2B | $4.0B | ||
| Q4 24 | $3.6B | $3.8B | ||
| Q3 24 | $6.0B | $4.9B | ||
| Q2 24 | $6.7B | $4.1B |
净利润CARRRCL
| Q1 26 | $265.0M | $950.0M | ||
| Q4 25 | $53.0M | $753.0M | ||
| Q3 25 | $428.0M | $1.6B | ||
| Q2 25 | $591.0M | $1.2B | ||
| Q1 25 | $412.0M | $730.0M | ||
| Q4 24 | $2.6B | $552.0M | ||
| Q3 24 | $447.0M | $1.1B | ||
| Q2 24 | $2.3B | $854.0M |
毛利率CARRRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率CARRRCL
| Q1 26 | 4.8% | 26.1% | ||
| Q4 25 | 2.1% | 21.9% | ||
| Q3 25 | 9.7% | 33.1% | ||
| Q2 25 | 14.8% | 29.3% | ||
| Q1 25 | 12.1% | 23.6% | ||
| Q4 24 | -63.6% | 16.6% | ||
| Q3 24 | 12.8% | 33.4% | ||
| Q2 24 | 55.2% | 26.7% |
净利率CARRRCL
| Q1 26 | 5.0% | 21.3% | ||
| Q4 25 | 1.1% | 17.7% | ||
| Q3 25 | 7.7% | 30.6% | ||
| Q2 25 | 9.7% | 26.7% | ||
| Q1 25 | 7.9% | 18.3% | ||
| Q4 24 | 70.3% | 14.7% | ||
| Q3 24 | 7.5% | 22.7% | ||
| Q2 24 | 34.9% | 20.8% |
每股收益（稀释后）CARRRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $0.07 | $2.76 | ||
| Q3 25 | $0.50 | $5.74 | ||
| Q2 25 | $0.68 | $4.41 | ||
| Q1 25 | $0.47 | $2.70 | ||
| Q4 24 | $2.82 | $2.27 | ||
| Q3 24 | $0.49 | $4.21 | ||
| Q2 24 | $2.55 | $3.11 |
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 | $1.4B | $512.0M |
| 总债务越低越好 | $10.4B | $21.1B |
| 股东权益账面价值 | $13.8B | $10.0B |
| 总资产 | $37.2B | $42.0B |
| 负债/权益比越低杠杆越低 | 0.76× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资CARRRCL
| Q1 26 | $1.4B | $512.0M | ||
| Q4 25 | $1.6B | $825.0M | ||
| Q3 25 | $1.4B | $432.0M | ||
| Q2 25 | $1.8B | $735.0M | ||
| Q1 25 | $1.7B | $386.0M | ||
| Q4 24 | $4.0B | $388.0M | ||
| Q3 24 | $2.2B | $418.0M | ||
| Q2 24 | $2.9B | $391.0M |
总债务CARRRCL
| Q1 26 | $10.4B | $21.1B | ||
| Q4 25 | $11.4B | $18.2B | ||
| Q3 25 | $11.3B | $17.2B | ||
| Q2 25 | $11.3B | $17.6B | ||
| Q1 25 | $11.1B | $18.0B | ||
| Q4 24 | $11.0B | $18.5B | ||
| Q3 24 | $10.3B | $19.0B | ||
| Q2 24 | $11.3B | $19.8B |
股东权益CARRRCL
| Q1 26 | $13.8B | $10.0B | ||
| Q4 25 | $14.1B | $10.0B | ||
| Q3 25 | $14.8B | $10.1B | ||
| Q2 25 | $15.0B | $9.2B | ||
| Q1 25 | $14.2B | $8.0B | ||
| Q4 24 | $14.4B | $7.6B | ||
| Q3 24 | $15.0B | $7.0B | ||
| Q2 24 | $14.1B | $6.0B |
总资产CARRRCL
| Q1 26 | $37.2B | $42.0B | ||
| Q4 25 | $37.2B | $41.6B | ||
| Q3 25 | $38.1B | $40.1B | ||
| Q2 25 | $38.5B | $38.5B | ||
| Q1 25 | $36.4B | $37.5B | ||
| Q4 24 | $37.4B | $37.1B | ||
| Q3 24 | $40.2B | $37.1B | ||
| Q2 24 | $40.4B | $37.0B |
负债/权益比CARRRCL
| Q1 26 | 0.76× | 2.11× | ||
| Q4 25 | 0.80× | 1.81× | ||
| Q3 25 | 0.76× | 1.70× | ||
| Q2 25 | 0.76× | 1.92× | ||
| Q1 25 | 0.78× | 2.26× | ||
| Q4 24 | 0.77× | 2.44× | ||
| Q3 24 | 0.69× | 2.69× | ||
| Q2 24 | 0.80× | 3.29× |
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 | — | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $-15.0M | — |
| 自由现金流率自由现金流/营收 | -0.3% | — |
| 资本支出强度资本支出/营收 | 1.8% | — |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $1.7B | — |
8季度趋势，按日历期对齐
经营现金流CARRRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $341.0M | $1.5B | ||
| Q2 25 | $649.0M | $1.7B | ||
| Q1 25 | $483.0M | $1.6B | ||
| Q4 24 | $132.0M | $1.5B | ||
| Q3 24 | $-269.0M | $897.0M | ||
| Q2 24 | $660.0M | $1.6B |
自由现金流CARRRCL
| Q1 26 | $-15.0M | — | ||
| Q4 25 | $909.0M | $116.0M | ||
| Q3 25 | $224.0M | $-989.0M | ||
| Q2 25 | $568.0M | $910.0M | ||
| Q1 25 | $420.0M | $1.2B | ||
| Q4 24 | $-85.0M | $915.0M | ||
| Q3 24 | $-356.0M | $563.0M | ||
| Q2 24 | $549.0M | $-567.0M |
自由现金流率CARRRCL
| Q1 26 | -0.3% | — | ||
| Q4 25 | 18.8% | 2.7% | ||
| Q3 25 | 4.0% | -19.2% | ||
| Q2 25 | 9.3% | 20.1% | ||
| Q1 25 | 8.0% | 30.0% | ||
| Q4 24 | -2.3% | 24.3% | ||
| Q3 24 | -5.9% | 11.5% | ||
| Q2 24 | 8.2% | -13.8% |
资本支出强度CARRRCL
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.7% | 35.4% | ||
| Q3 25 | 2.1% | 47.8% | ||
| Q2 25 | 1.3% | 18.4% | ||
| Q1 25 | 1.2% | 10.7% | ||
| Q4 24 | 6.0% | 14.7% | ||
| Q3 24 | 1.5% | 6.8% | ||
| Q2 24 | 1.7% | 52.1% |
现金转化率CARRRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 19.62× | 2.16× | ||
| Q3 25 | 0.80× | 0.93× | ||
| Q2 25 | 1.10× | 1.44× | ||
| Q1 25 | 1.17× | 2.23× | ||
| Q4 24 | 0.05× | 2.66× | ||
| Q3 24 | -0.60× | 0.81× | ||
| Q2 24 | 0.28× | 1.84× |
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
CARR
| Product sales | $4.7B | 87% |
| Service sales | $674.0M | 13% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
