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嘉年华集团（CCL）与Eversource Energy（ES）财务数据对比。点击上方公司名可切换其他公司
嘉年华集团的季度营收约是Eversource Energy的1.9倍（$6.3B vs $3.4B），Eversource Energy净利率更高（12.6% vs 6.6%，领先5.9%），Eversource Energy同比增速更快（13.4% vs 6.6%），嘉年华集团自由现金流更多（$12.0M vs $-67.3M），过去两年嘉年华集团的营收复合增速更高（8.2% vs 0.6%）
嘉年华集团是全球规模最大的休闲旅游集团，核心业务为邮轮运营，旗下拥有多个全球知名邮轮品牌，每年服务数百万乘客，提供覆盖住宿、餐饮、娱乐、岸上观光的一站式度假体验，航线遍布全球热门目的地。
Eversource Energy是位列财富500强的上市能源企业，总部位于美国马萨诸塞州斯普林菲尔德，在康涅狄格州哈特福德、马萨诸塞州波士顿均设有办公据点，旗下多家受监管子公司为康涅狄格、马萨诸塞、新罕布什尔三州约400万用户提供零售电力、天然气及供水服务。
CCL vs ES — 直观对比
营收规模更大
CCL
是对方的1.9倍
$3.4B
营收增速更快
ES
高出6.8%
6.6%
净利率更高
ES
高出5.9%
6.6%
自由现金流更多
CCL
多$79.3M
$-67.3M
两年增速更快
CCL
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $3.4B |
| 净利润 | $421.0M | $423.2M |
| 毛利率 | — | — |
| 营业利润率 | 11.6% | 21.1% |
| 净利率 | 6.6% | 12.6% |
| 营收同比 | 6.6% | 13.4% |
| 净利润同比 | 38.9% | 468.8% |
| 每股收益（稀释后） | $0.33 | $1.11 |
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CCLES
| Q4 25 | $6.3B | $3.4B | ||
| Q3 25 | $8.2B | $3.2B | ||
| Q2 25 | $6.3B | $2.8B | ||
| Q1 25 | $5.8B | $4.1B | ||
| Q4 24 | $5.9B | $3.0B | ||
| Q3 24 | $7.9B | $3.1B | ||
| Q2 24 | $5.8B | $2.5B | ||
| Q1 24 | $5.4B | $3.3B |
净利润CCLES
| Q4 25 | $421.0M | $423.2M | ||
| Q3 25 | $1.9B | $369.4M | ||
| Q2 25 | $565.0M | $354.6M | ||
| Q1 25 | $-78.0M | $552.7M | ||
| Q4 24 | $303.0M | $74.4M | ||
| Q3 24 | $1.7B | $-116.2M | ||
| Q2 24 | $92.0M | $337.2M | ||
| Q1 24 | $-214.0M | $523.7M |
毛利率CCLES
| Q4 25 | — | — | ||
| Q3 25 | 46.2% | — | ||
| Q2 25 | 38.6% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 35.5% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 34.3% | — | ||
| Q1 24 | 31.5% | — |
营业利润率CCLES
| Q4 25 | 11.6% | 21.1% | ||
| Q3 25 | 27.9% | 21.4% | ||
| Q2 25 | 14.8% | 23.4% | ||
| Q1 25 | 9.3% | 22.5% | ||
| Q4 24 | 9.4% | 11.7% | ||
| Q3 24 | 27.6% | 20.0% | ||
| Q2 24 | 9.7% | 23.8% | ||
| Q1 24 | 5.1% | 25.4% |
净利率CCLES
| Q4 25 | 6.6% | 12.6% | ||
| Q3 25 | 22.7% | 11.5% | ||
| Q2 25 | 8.9% | 12.5% | ||
| Q1 25 | -1.3% | 13.4% | ||
| Q4 24 | 5.1% | 2.5% | ||
| Q3 24 | 22.0% | -3.8% | ||
| Q2 24 | 1.6% | 13.3% | ||
| Q1 24 | -4.0% | 15.7% |
每股收益（稀释后）CCLES
| Q4 25 | $0.33 | $1.11 | ||
| Q3 25 | $1.33 | $0.99 | ||
| Q2 25 | $0.42 | $0.96 | ||
| Q1 25 | $-0.06 | $1.50 | ||
| Q4 24 | $0.28 | $0.16 | ||
| Q3 24 | $1.26 | $-0.33 | ||
| Q2 24 | $0.07 | $0.95 | ||
| Q1 24 | $-0.17 | $1.49 |
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 | $1.9B | $135.4M |
| 总债务越低越好 | $27.4B | — |
| 股东权益账面价值 | $12.3B | $16.2B |
| 总资产 | $51.7B | $63.8B |
| 负债/权益比越低杠杆越低 | 2.23× | — |
8季度趋势，按日历期对齐
现金及短期投资CCLES
| Q4 25 | $1.9B | $135.4M | ||
| Q3 25 | $1.8B | $259.3M | ||
| Q2 25 | $2.1B | $343.7M | ||
| Q1 25 | $833.0M | $111.4M | ||
| Q4 24 | $1.2B | $26.7M | ||
| Q3 24 | $1.5B | $97.9M | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $2.2B | — |
总债务CCLES
| Q4 25 | $27.4B | — | ||
| Q3 25 | $27.2B | — | ||
| Q2 25 | $28.0B | — | ||
| Q1 25 | $27.7B | — | ||
| Q4 24 | $28.2B | — | ||
| Q3 24 | $29.6B | — | ||
| Q2 24 | $30.2B | — | ||
| Q1 24 | $31.6B | — |
股东权益CCLES
| Q4 25 | $12.3B | $16.2B | ||
| Q3 25 | $11.9B | $16.0B | ||
| Q2 25 | $10.0B | $15.7B | ||
| Q1 25 | $9.2B | $15.3B | ||
| Q4 24 | $9.3B | $15.0B | ||
| Q3 24 | $8.6B | $15.0B | ||
| Q2 24 | $6.8B | $14.8B | ||
| Q1 24 | $6.7B | $14.5B |
总资产CCLES
| Q4 25 | $51.7B | $63.8B | ||
| Q3 25 | $50.8B | $61.7B | ||
| Q2 25 | $51.2B | $61.0B | ||
| Q1 25 | $48.5B | $60.2B | ||
| Q4 24 | $49.1B | $59.6B | ||
| Q3 24 | $49.8B | $58.6B | ||
| Q2 24 | $49.6B | $58.4B | ||
| Q1 24 | $49.8B | $57.3B |
负债/权益比CCLES
| Q4 25 | 2.23× | — | ||
| Q3 25 | 2.28× | — | ||
| Q2 25 | 2.79× | — | ||
| Q1 25 | 3.02× | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 3.45× | — | ||
| Q2 24 | 4.43× | — | ||
| Q1 24 | 4.72× | — |
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 | $916.1M |
| 自由现金流经营现金流 - 资本支出 | $12.0M | $-67.3M |
| 自由现金流率自由现金流/营收 | 0.2% | -2.0% |
| 资本支出强度资本支出/营收 | 23.8% | 29.2% |
| 现金转化率经营现金流/净利润 | 3.61× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $2.6B | $-45.1M |
8季度趋势，按日历期对齐
经营现金流CCLES
| Q4 25 | $1.5B | $916.1M | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $2.4B | $1.1B | ||
| Q1 25 | $925.0M | $1.0B | ||
| Q4 24 | $911.0M | $642.1M | ||
| Q3 24 | $1.2B | $555.6M | ||
| Q2 24 | $2.0B | $670.7M | ||
| Q1 24 | $1.8B | $291.3M |
自由现金流CCLES
| Q4 25 | $12.0M | $-67.3M | ||
| Q3 25 | $736.0M | $-26.3M | ||
| Q2 25 | $1.5B | $15.3M | ||
| Q1 25 | $318.0M | $33.2M | ||
| Q4 24 | $319.0M | $-546.5M | ||
| Q3 24 | $628.0M | $-515.4M | ||
| Q2 24 | $720.0M | $-400.8M | ||
| Q1 24 | $-370.0M | $-858.1M |
自由现金流率CCLES
| Q4 25 | 0.2% | -2.0% | ||
| Q3 25 | 9.0% | -0.8% | ||
| Q2 25 | 24.4% | 0.5% | ||
| Q1 25 | 5.5% | 0.8% | ||
| Q4 24 | 5.4% | -18.4% | ||
| Q3 24 | 8.0% | -16.8% | ||
| Q2 24 | 12.5% | -15.8% | ||
| Q1 24 | -6.8% | -25.7% |
资本支出强度CCLES
| Q4 25 | 23.8% | 29.2% | ||
| Q3 25 | 7.9% | 35.0% | ||
| Q2 25 | 13.4% | 36.7% | ||
| Q1 25 | 10.4% | 24.5% | ||
| Q4 24 | 10.0% | 40.0% | ||
| Q3 24 | 7.3% | 35.0% | ||
| Q2 24 | 22.8% | 42.3% | ||
| Q1 24 | 39.5% | 34.5% |
现金转化率CCLES
| Q4 25 | 3.61× | 2.16× | ||
| Q3 25 | 0.75× | 2.98× | ||
| Q2 25 | 4.23× | 2.98× | ||
| Q1 25 | — | 1.88× | ||
| Q4 24 | 3.01× | 8.63× | ||
| Q3 24 | 0.69× | — | ||
| Q2 24 | 22.16× | 1.99× | ||
| Q1 24 | — | 0.56× |
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
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
ES
| Residential | $1.2B | 35% |
| Commercial | $789.0M | 23% |
| Eversource Electric Transmission | $573.8M | 17% |
| Wholesale Transmission Revenue | $570.0M | 17% |
| Industrial | $102.6M | 3% |
| Water Distribution Segment | $58.4M | 2% |
| Eversource Water | $56.3M | 2% |
| Other Revenue Adjustmentsfrom Contractswith Customers | $25.9M | 1% |
