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丹麦皇冠（CCK）与诺唯真游轮控股（NCLH）财务数据对比。点击上方公司名可切换其他公司
丹麦皇冠的季度营收约是诺唯真游轮控股的1.5倍（$3.3B vs $2.2B），丹麦皇冠净利率更高（6.3% vs 0.6%，领先5.7%），丹麦皇冠同比增速更快（12.9% vs 6.4%），诺唯真游轮控股自由现金流更多（$21.5M vs $-129.0M），过去两年丹麦皇冠的营收复合增速更高（3.5% vs 1.2%）
丹麦皇冠是来自丹麦的国际化食品企业，核心业务涵盖生猪、肉牛的屠宰加工及销售，旗下拥有多家子公司，业务覆盖食品行业多品类产品领域，首席执行官为尼尔斯·迪达尔，总部位于兰讷斯。
诺唯真游轮（NCL）1966年创立于挪威，为美国知名游轮运营商，总部设于佛罗里达州迈阿密-戴德县，注册地为巴哈马，由诺唯真游轮控股全资持有。按载客量计算，该品牌为全球第四大游轮公司，2021年占全球游轮市场载客量份额约8.6%。
CCK vs NCLH — 直观对比
营收规模更大
CCK
是对方的1.5倍
$2.2B
营收增速更快
CCK
高出6.5%
6.4%
净利率更高
CCK
高出5.7%
0.6%
自由现金流更多
NCLH
多$150.5M
$-129.0M
两年增速更快
CCK
近两年复合增速
1.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $2.2B |
| 净利润 | $206.0M | $14.3M |
| 毛利率 | — | 41.0% |
| 营业利润率 | 11.2% | 8.3% |
| 净利率 | 6.3% | 0.6% |
| 营收同比 | 12.9% | 6.4% |
| 净利润同比 | -9.3% | -94.4% |
| 每股收益（稀释后） | $175.00 | $0.08 |
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CCKNCLH
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.1B | $2.2B | ||
| Q3 25 | $3.2B | $2.9B | ||
| Q2 25 | $3.1B | $2.5B | ||
| Q1 25 | $2.9B | $2.1B | ||
| Q4 24 | $2.9B | $2.1B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $3.0B | $2.4B |
净利润CCKNCLH
| Q1 26 | $206.0M | — | ||
| Q4 25 | $150.0M | $14.3M | ||
| Q3 25 | $214.0M | $419.3M | ||
| Q2 25 | $181.0M | $30.0M | ||
| Q1 25 | $193.0M | $-40.3M | ||
| Q4 24 | $358.0M | $254.5M | ||
| Q3 24 | $-175.0M | $474.9M | ||
| Q2 24 | $174.0M | $163.4M |
毛利率CCKNCLH
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 47.1% | ||
| Q2 25 | — | 42.1% | ||
| Q1 25 | — | 38.7% | ||
| Q4 24 | — | 38.0% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 38.7% |
营业利润率CCKNCLH
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.0% | 8.3% | ||
| Q3 25 | 13.2% | 25.5% | ||
| Q2 25 | 12.4% | 16.8% | ||
| Q1 25 | 12.6% | 9.4% | ||
| Q4 24 | 12.1% | 10.2% | ||
| Q3 24 | 14.4% | 24.6% | ||
| Q2 24 | 12.5% | 14.4% |
净利率CCKNCLH
| Q1 26 | 6.3% | — | ||
| Q4 25 | 4.8% | 0.6% | ||
| Q3 25 | 6.7% | 14.3% | ||
| Q2 25 | 5.7% | 1.2% | ||
| Q1 25 | 6.7% | -1.9% | ||
| Q4 24 | 12.3% | 12.1% | ||
| Q3 24 | -5.7% | 16.9% | ||
| Q2 24 | 5.7% | 6.9% |
每股收益（稀释后）CCKNCLH
| Q1 26 | $175.00 | — | ||
| Q4 25 | $1.32 | $0.08 | ||
| Q3 25 | $1.85 | $0.86 | ||
| Q2 25 | $1.56 | $0.07 | ||
| Q1 25 | $1.65 | $-0.09 | ||
| Q4 24 | $3.01 | $0.55 | ||
| Q3 24 | $-1.47 | $0.95 | ||
| Q2 24 | $1.45 | $0.35 |
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 | $584.0M | $209.9M |
| 总债务越低越好 | $53.0M | $13.7B |
| 股东权益账面价值 | $3.4B | $2.2B |
| 总资产 | $14.3B | $22.5B |
| 负债/权益比越低杠杆越低 | 0.02× | 6.21× |
8季度趋势，按日历期对齐
现金及短期投资CCKNCLH
| Q1 26 | $584.0M | — | ||
| Q4 25 | $764.0M | $209.9M | ||
| Q3 25 | $1.2B | $166.8M | ||
| Q2 25 | $936.0M | $184.0M | ||
| Q1 25 | $779.0M | $184.4M | ||
| Q4 24 | $918.0M | $190.8M | ||
| Q3 24 | $1.7B | $332.5M | ||
| Q2 24 | $1.4B | $594.1M |
总债务CCKNCLH
| Q1 26 | $53.0M | — | ||
| Q4 25 | $5.9B | $13.7B | ||
| Q3 25 | $6.2B | $13.6B | ||
| Q2 25 | $6.3B | $12.6B | ||
| Q1 25 | $6.2B | $12.9B | ||
| Q4 24 | $6.1B | $11.8B | ||
| Q3 24 | $7.4B | $11.8B | ||
| Q2 24 | $7.3B | $11.9B |
股东权益CCKNCLH
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.0B | $2.2B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $2.9B | $1.6B | ||
| Q1 25 | $2.7B | $1.4B | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.5B | $1.1B | ||
| Q2 24 | $2.5B | $693.1M |
总资产CCKNCLH
| Q1 26 | $14.3B | — | ||
| Q4 25 | $14.3B | $22.5B | ||
| Q3 25 | $14.6B | $22.2B | ||
| Q2 25 | $14.5B | $21.6B | ||
| Q1 25 | $13.8B | $21.4B | ||
| Q4 24 | $13.8B | $20.0B | ||
| Q3 24 | $15.1B | $19.8B | ||
| Q2 24 | $14.9B | $20.1B |
负债/权益比CCKNCLH
| Q1 26 | 0.02× | — | ||
| Q4 25 | 1.96× | 6.21× | ||
| Q3 25 | 2.07× | 6.22× | ||
| Q2 25 | 2.18× | 8.05× | ||
| Q1 25 | 2.31× | 9.09× | ||
| Q4 24 | 2.23× | 8.26× | ||
| Q3 24 | 2.93× | 10.35× | ||
| Q2 24 | 2.92× | 17.19× |
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 | — | $459.1M |
| 自由现金流经营现金流 - 资本支出 | $-129.0M | $21.5M |
| 自由现金流率自由现金流/营收 | -4.0% | 1.0% |
| 资本支出强度资本支出/营收 | 2.7% | 19.5% |
| 现金转化率经营现金流/净利润 | — | 32.21× |
| 过去12个月自由现金流最近4个季度 | $1.0B | $-1.2B |
8季度趋势，按日历期对齐
经营现金流CCKNCLH
| Q1 26 | — | — | ||
| Q4 25 | $487.0M | $459.1M | ||
| Q3 25 | $580.0M | $236.6M | ||
| Q2 25 | $449.0M | $714.9M | ||
| Q1 25 | $14.0M | $679.2M | ||
| Q4 24 | $295.0M | $399.3M | ||
| Q3 24 | $554.0M | $172.5M | ||
| Q2 24 | $445.0M | $670.9M |
自由现金流CCKNCLH
| Q1 26 | $-129.0M | — | ||
| Q4 25 | $255.0M | $21.5M | ||
| Q3 25 | $488.0M | $-726.5M | ||
| Q2 25 | $393.0M | $381.2M | ||
| Q1 25 | $-19.0M | $-846.0M | ||
| Q4 24 | $146.0M | $155.8M | ||
| Q3 24 | $478.0M | $-195.5M | ||
| Q2 24 | $361.0M | $330.2M |
自由现金流率CCKNCLH
| Q1 26 | -4.0% | — | ||
| Q4 25 | 8.2% | 1.0% | ||
| Q3 25 | 15.2% | -24.7% | ||
| Q2 25 | 12.5% | 15.1% | ||
| Q1 25 | -0.7% | -39.8% | ||
| Q4 24 | 5.0% | 7.4% | ||
| Q3 24 | 15.5% | -7.0% | ||
| Q2 24 | 11.9% | 13.9% |
资本支出强度CCKNCLH
| Q1 26 | 2.7% | — | ||
| Q4 25 | 7.4% | 19.5% | ||
| Q3 25 | 2.9% | 32.8% | ||
| Q2 25 | 1.8% | 13.3% | ||
| Q1 25 | 1.1% | 71.7% | ||
| Q4 24 | 5.1% | 11.5% | ||
| Q3 24 | 2.5% | 13.1% | ||
| Q2 24 | 2.8% | 14.4% |
现金转化率CCKNCLH
| Q1 26 | — | — | ||
| Q4 25 | 3.25× | 32.21× | ||
| Q3 25 | 2.71× | 0.56× | ||
| Q2 25 | 2.48× | 23.83× | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.82× | 1.57× | ||
| Q3 24 | — | 0.36× | ||
| Q2 24 | 2.56× | 4.10× |
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
CCK
| Americas Beverage | $1.5B | 47% |
| European Beverage | $588.0M | 18% |
| Transit Packaging | $496.0M | 15% |
| Other | $342.0M | 10% |
| Asia Pacific | $303.0M | 9% |
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
