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塞拉尼斯（CE）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
皇家加勒比集团的季度营收约是塞拉尼斯的1.9倍（$4.3B vs $2.2B），皇家加勒比集团净利率更高（17.9% vs 0.6%，领先17.3%），皇家加勒比集团同比增速更快（13.2% vs -7.0%），过去两年皇家加勒比集团的营收复合增速更高（1.8% vs -8.1%）
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
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。
CE vs RCL — 直观对比
营收规模更大
RCL
是对方的1.9倍
$2.2B
营收增速更快
RCL
高出20.2%
-7.0%
净利率更高
RCL
高出17.3%
0.6%
两年增速更快
RCL
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $4.3B |
| 净利润 | $14.0M | $762.0M |
| 毛利率 | 19.1% | — |
| 营业利润率 | 4.0% | 21.9% |
| 净利率 | 0.6% | 17.9% |
| 营收同比 | -7.0% | 13.2% |
| 净利润同比 | 100.7% | 36.3% |
| 每股收益（稀释后） | $0.13 | $2.76 |
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CERCL
| Q1 26 | — | $4.3B | ||
| Q4 25 | $2.2B | $4.3B | ||
| Q3 25 | $2.4B | $5.1B | ||
| Q2 25 | $2.5B | $4.5B | ||
| Q1 25 | $2.4B | $4.0B | ||
| Q4 24 | $2.4B | $3.8B | ||
| Q3 24 | $2.6B | $4.9B | ||
| Q2 24 | $2.7B | $4.1B |
净利润CERCL
| Q1 26 | — | $762.0M | ||
| Q4 25 | $14.0M | $753.0M | ||
| Q3 25 | $-1.4B | $1.6B | ||
| Q2 25 | $199.0M | $1.2B | ||
| Q1 25 | $-21.0M | $730.0M | ||
| Q4 24 | $-1.9B | $552.0M | ||
| Q3 24 | $116.0M | $1.1B | ||
| Q2 24 | $155.0M | $854.0M |
毛利率CERCL
| Q1 26 | — | — | ||
| Q4 25 | 19.1% | 47.4% | ||
| Q3 25 | 21.5% | 51.8% | ||
| Q2 25 | 21.1% | 49.7% | ||
| Q1 25 | 19.9% | 48.0% | ||
| Q4 24 | 22.7% | 45.4% | ||
| Q3 24 | 23.5% | 51.1% | ||
| Q2 24 | 24.2% | 47.6% |
营业利润率CERCL
| Q1 26 | — | 21.9% | ||
| Q4 25 | 4.0% | 21.9% | ||
| Q3 25 | -52.7% | 33.1% | ||
| Q2 25 | 9.2% | 29.3% | ||
| Q1 25 | 7.0% | 23.6% | ||
| Q4 24 | -59.3% | 16.6% | ||
| Q3 24 | 9.4% | 33.4% | ||
| Q2 24 | 9.4% | 26.7% |
净利率CERCL
| Q1 26 | — | 17.9% | ||
| Q4 25 | 0.6% | 17.7% | ||
| Q3 25 | -56.1% | 30.6% | ||
| Q2 25 | 7.9% | 26.7% | ||
| Q1 25 | -0.9% | 18.3% | ||
| Q4 24 | -80.8% | 14.7% | ||
| Q3 24 | 4.4% | 22.7% | ||
| Q2 24 | 5.8% | 20.8% |
每股收益（稀释后）CERCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | $0.13 | $2.76 | ||
| Q3 25 | $-12.39 | $5.74 | ||
| Q2 25 | $1.81 | $4.41 | ||
| Q1 25 | $-0.19 | $2.70 | ||
| Q4 24 | $-17.50 | $2.27 | ||
| Q3 24 | $1.06 | $4.21 | ||
| Q2 24 | $1.41 | $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 | — | $825.0M |
| 总债务越低越好 | $11.4B | $21.3B |
| 股东权益账面价值 | $4.0B | $10.2B |
| 总资产 | $21.7B | $41.6B |
| 负债/权益比越低杠杆越低 | 2.81× | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资CERCL
| Q1 26 | — | $825.0M | ||
| Q4 25 | — | $825.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $735.0M | ||
| Q1 25 | — | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | — | $418.0M | ||
| Q2 24 | — | $391.0M |
总债务CERCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | $11.4B | $18.2B | ||
| Q3 25 | $11.7B | $17.2B | ||
| Q2 25 | $12.7B | $17.6B | ||
| Q1 25 | $12.4B | $18.0B | ||
| Q4 24 | $11.1B | $18.5B | ||
| Q3 24 | $11.3B | $19.0B | ||
| Q2 24 | $11.1B | $19.8B |
股东权益CERCL
| Q1 26 | — | $10.2B | ||
| Q4 25 | $4.0B | $10.0B | ||
| Q3 25 | $4.0B | $10.1B | ||
| Q2 25 | $5.3B | $9.2B | ||
| Q1 25 | $5.2B | $8.0B | ||
| Q4 24 | $5.2B | $7.6B | ||
| Q3 24 | $7.3B | $7.0B | ||
| Q2 24 | $7.2B | $6.0B |
总资产CERCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | $21.7B | $41.6B | ||
| Q3 25 | $22.2B | $40.1B | ||
| Q2 25 | $23.7B | $38.5B | ||
| Q1 25 | $23.2B | $37.5B | ||
| Q4 24 | $22.9B | $37.1B | ||
| Q3 24 | $25.9B | $37.1B | ||
| Q2 24 | $25.8B | $37.0B |
负债/权益比CERCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | 2.81× | 1.81× | ||
| Q3 25 | 2.95× | 1.70× | ||
| Q2 25 | 2.41× | 1.92× | ||
| Q1 25 | 2.39× | 2.26× | ||
| Q4 24 | 2.14× | 2.44× | ||
| Q3 24 | 1.56× | 2.69× | ||
| Q2 24 | 1.54× | 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 | $252.0M | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $168.0M | — |
| 自由现金流率自由现金流/营收 | 7.6% | — |
| 资本支出强度资本支出/营收 | 3.8% | — |
| 现金转化率经营现金流/净利润 | 18.00× | 8.48× |
| 过去12个月自由现金流最近4个季度 | $803.0M | — |
8季度趋势，按日历期对齐
经营现金流CERCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | $252.0M | $1.6B | ||
| Q3 25 | $447.0M | $1.5B | ||
| Q2 25 | $410.0M | $1.7B | ||
| Q1 25 | $37.0M | $1.6B | ||
| Q4 24 | $494.0M | $1.5B | ||
| Q3 24 | $79.0M | $897.0M | ||
| Q2 24 | $292.0M | $1.6B |
自由现金流CERCL
| Q1 26 | — | — | ||
| Q4 25 | $168.0M | $116.0M | ||
| Q3 25 | $383.0M | $-989.0M | ||
| Q2 25 | $317.0M | $910.0M | ||
| Q1 25 | $-65.0M | $1.2B | ||
| Q4 24 | $389.0M | $915.0M | ||
| Q3 24 | $-9.0M | $563.0M | ||
| Q2 24 | $187.0M | $-567.0M |
自由现金流率CERCL
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 2.7% | ||
| Q3 25 | 15.8% | -19.2% | ||
| Q2 25 | 12.5% | 20.1% | ||
| Q1 25 | -2.7% | 30.0% | ||
| Q4 24 | 16.4% | 24.3% | ||
| Q3 24 | -0.3% | 11.5% | ||
| Q2 24 | 7.1% | -13.8% |
资本支出强度CERCL
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | 35.4% | ||
| Q3 25 | 2.6% | 47.8% | ||
| Q2 25 | 3.7% | 18.4% | ||
| Q1 25 | 4.3% | 10.7% | ||
| Q4 24 | 4.4% | 14.7% | ||
| Q3 24 | 3.3% | 6.8% | ||
| Q2 24 | 4.0% | 52.1% |
现金转化率CERCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | 18.00× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | 2.06× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | 0.68× | 0.81× | ||
| Q2 24 | 1.88× | 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
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
RCL
暂无分部数据
