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嘉年华集团（CCL）与Oneok（OKE）财务数据对比。点击上方公司名可切换其他公司
Oneok的季度营收约是嘉年华集团的1.4倍（$9.1B vs $6.3B），Oneok净利率更高（10.8% vs 6.6%，领先4.1%），Oneok同比增速更快（29.5% vs 6.6%），Oneok自由现金流更多（$576.0M vs $12.0M），过去两年Oneok的营收复合增速更高（37.7% vs 8.2%）
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。
ONEOK是美国油气中游领域运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及储存服务，位列财富500强及标普500指数成分股。公司前身为1906年成立的俄克拉荷马天然气公司，1980年正式更名为ONEOK。
CCL vs OKE — 直观对比
营收规模更大
OKE
是对方的1.4倍
$6.3B
营收增速更快
OKE
高出22.9%
6.6%
净利率更高
OKE
高出4.1%
6.6%
自由现金流更多
OKE
多$564.0M
$12.0M
两年增速更快
OKE
近两年复合增速
8.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $9.1B |
| 净利润 | $421.0M | $977.0M |
| 毛利率 | — | 29.4% |
| 营业利润率 | 11.6% | 16.9% |
| 净利率 | 6.6% | 10.8% |
| 营收同比 | 6.6% | 29.5% |
| 净利润同比 | 38.9% | 5.9% |
| 每股收益（稀释后） | $0.33 | $1.55 |
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CCLOKE
| Q4 25 | $6.3B | $9.1B | ||
| Q3 25 | $8.2B | $8.6B | ||
| Q2 25 | $6.3B | $7.9B | ||
| Q1 25 | $5.8B | $8.0B | ||
| Q4 24 | $5.9B | $7.0B | ||
| Q3 24 | $7.9B | $5.0B | ||
| Q2 24 | $5.8B | $4.9B | ||
| Q1 24 | $5.4B | $4.8B |
净利润CCLOKE
| Q4 25 | $421.0M | $977.0M | ||
| Q3 25 | $1.9B | $939.0M | ||
| Q2 25 | $565.0M | $841.0M | ||
| Q1 25 | $-78.0M | $636.0M | ||
| Q4 24 | $303.0M | $923.0M | ||
| Q3 24 | $1.7B | $693.0M | ||
| Q2 24 | $92.0M | $780.0M | ||
| Q1 24 | $-214.0M | $639.0M |
毛利率CCLOKE
| Q4 25 | — | 29.4% | ||
| Q3 25 | 46.2% | 30.9% | ||
| Q2 25 | 38.6% | 32.0% | ||
| Q1 25 | 35.2% | 29.7% | ||
| Q4 24 | 35.5% | 35.8% | ||
| Q3 24 | 45.5% | 39.7% | ||
| Q2 24 | 34.3% | 40.9% | ||
| Q1 24 | 31.5% | 39.4% |
营业利润率CCLOKE
| Q4 25 | 11.6% | 16.9% | ||
| Q3 25 | 27.9% | 18.0% | ||
| Q2 25 | 14.8% | 18.1% | ||
| Q1 25 | 9.3% | 15.2% | ||
| Q4 24 | 9.4% | 22.4% | ||
| Q3 24 | 27.6% | 22.5% | ||
| Q2 24 | 9.7% | 25.1% | ||
| Q1 24 | 5.1% | 22.3% |
净利率CCLOKE
| Q4 25 | 6.6% | 10.8% | ||
| Q3 25 | 22.7% | 10.9% | ||
| Q2 25 | 8.9% | 10.7% | ||
| Q1 25 | -1.3% | 7.9% | ||
| Q4 24 | 5.1% | 13.2% | ||
| Q3 24 | 22.0% | 13.8% | ||
| Q2 24 | 1.6% | 15.9% | ||
| Q1 24 | -4.0% | 13.4% |
每股收益（稀释后）CCLOKE
| Q4 25 | $0.33 | $1.55 | ||
| Q3 25 | $1.33 | $1.49 | ||
| Q2 25 | $0.42 | $1.34 | ||
| Q1 25 | $-0.06 | $1.04 | ||
| Q4 24 | $0.28 | $1.57 | ||
| Q3 24 | $1.26 | $1.18 | ||
| Q2 24 | $0.07 | $1.33 | ||
| Q1 24 | $-0.17 | $1.09 |
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 | $78.0M |
| 总债务越低越好 | $27.4B | — |
| 股东权益账面价值 | $12.3B | $22.5B |
| 总资产 | $51.7B | $66.6B |
| 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CCLOKE
| Q4 25 | $1.9B | $78.0M | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $2.1B | $97.0M | ||
| Q1 25 | $833.0M | $141.0M | ||
| Q4 24 | $1.2B | $733.0M | ||
| Q3 24 | $1.5B | $579.0M | ||
| Q2 24 | $1.6B | $36.0M | ||
| Q1 24 | $2.2B | $65.0M |
总债务CCLOKE
| Q4 25 | $27.4B | — | ||
| Q3 25 | $27.2B | $33.7B | ||
| Q2 25 | $28.0B | $31.3B | ||
| Q1 25 | $27.7B | $31.8B | ||
| Q4 24 | $28.2B | $32.1B | ||
| Q3 24 | $29.6B | $28.1B | ||
| Q2 24 | $30.2B | $21.7B | ||
| Q1 24 | $31.6B | $21.7B |
股东权益CCLOKE
| Q4 25 | $12.3B | $22.5B | ||
| Q3 25 | $11.9B | $22.1B | ||
| Q2 25 | $10.0B | $21.8B | ||
| Q1 25 | $9.2B | $21.4B | ||
| Q4 24 | $9.3B | $17.0B | ||
| Q3 24 | $8.6B | $16.9B | ||
| Q2 24 | $6.8B | $16.7B | ||
| Q1 24 | $6.7B | $16.4B |
总资产CCLOKE
| Q4 25 | $51.7B | $66.6B | ||
| Q3 25 | $50.8B | $66.6B | ||
| Q2 25 | $51.2B | $64.5B | ||
| Q1 25 | $48.5B | $64.3B | ||
| Q4 24 | $49.1B | $64.1B | ||
| Q3 24 | $49.8B | $51.0B | ||
| Q2 24 | $49.6B | $44.5B | ||
| Q1 24 | $49.8B | $44.4B |
负债/权益比CCLOKE
| Q4 25 | 2.23× | — | ||
| Q3 25 | 2.28× | 1.53× | ||
| Q2 25 | 2.79× | 1.43× | ||
| Q1 25 | 3.02× | 1.49× | ||
| Q4 24 | 3.05× | 1.88× | ||
| Q3 24 | 3.45× | 1.66× | ||
| Q2 24 | 4.43× | 1.30× | ||
| Q1 24 | 4.72× | 1.32× |
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 | $1.5B |
| 自由现金流经营现金流 - 资本支出 | $12.0M | $576.0M |
| 自由现金流率自由现金流/营收 | 0.2% | 6.4% |
| 资本支出强度资本支出/营收 | 23.8% | 10.7% |
| 现金转化率经营现金流/净利润 | 3.61× | 1.58× |
| 过去12个月自由现金流最近4个季度 | $2.6B | $2.4B |
8季度趋势，按日历期对齐
经营现金流CCLOKE
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $2.4B | $1.5B | ||
| Q1 25 | $925.0M | $904.0M | ||
| Q4 24 | $911.0M | $1.6B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $2.0B | $1.4B | ||
| Q1 24 | $1.8B | $596.0M |
自由现金流CCLOKE
| Q4 25 | $12.0M | $576.0M | ||
| Q3 25 | $736.0M | $820.0M | ||
| Q2 25 | $1.5B | $776.0M | ||
| Q1 25 | $318.0M | $275.0M | ||
| Q4 24 | $319.0M | $1.0B | ||
| Q3 24 | $628.0M | $783.0M | ||
| Q2 24 | $720.0M | $951.0M | ||
| Q1 24 | $-370.0M | $84.0M |
自由现金流率CCLOKE
| Q4 25 | 0.2% | 6.4% | ||
| Q3 25 | 9.0% | 9.5% | ||
| Q2 25 | 24.4% | 9.8% | ||
| Q1 25 | 5.5% | 3.4% | ||
| Q4 24 | 5.4% | 15.0% | ||
| Q3 24 | 8.0% | 15.6% | ||
| Q2 24 | 12.5% | 19.4% | ||
| Q1 24 | -6.8% | 1.8% |
资本支出强度CCLOKE
| Q4 25 | 23.8% | 10.7% | ||
| Q3 25 | 7.9% | 9.3% | ||
| Q2 25 | 13.4% | 9.5% | ||
| Q1 25 | 10.4% | 7.8% | ||
| Q4 24 | 10.0% | 8.0% | ||
| Q3 24 | 7.3% | 9.3% | ||
| Q2 24 | 22.8% | 9.8% | ||
| Q1 24 | 39.5% | 10.7% |
现金转化率CCLOKE
| Q4 25 | 3.61× | 1.58× | ||
| Q3 25 | 0.75× | 1.73× | ||
| Q2 25 | 4.23× | 1.81× | ||
| Q1 25 | — | 1.42× | ||
| Q4 24 | 3.01× | 1.75× | ||
| Q3 24 | 0.69× | 1.81× | ||
| Q2 24 | 22.16× | 1.83× | ||
| Q1 24 | — | 0.93× |
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
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
OKE
| Natural Gas Liquids | $4.0B | 44% |
| Natural Gas Gathering And Processing | $1.8B | 20% |
| Services | $1.2B | 14% |
| Liquids Commodity | $979.0M | 11% |
| Wholly Owned Interstate Natural Gas Pipelines | $527.0M | 6% |
| Exchange Services And Natural Gas Gathering And Processing Revenue | $365.0M | 4% |
| Transportationand Storage Revenue | $108.0M | 1% |
| Other | $12.0M | 0% |
