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CHOICE HOTELS INTERNATIONAL INC（CHH）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
CHOICE HOTELS INTERNATIONAL INC的季度营收约是世纪互联的1.1倍（$390.1M vs $362.7M），CHOICE HOTELS INTERNATIONAL INC净利率更高（16.3% vs -10.7%，领先27.0%），CHOICE HOTELS INTERNATIONAL INC自由现金流更多（$64.1M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 8.4%）
凯悦酒店国际集团（Choice Hotels International）是总部位于美国马里兰州北贝塞斯达的跨国酒店集团，为全球规模最大的酒店连锁企业之一，旗下拥有从高端到经济型的多元酒店品牌。截至2024年末，集团在全球46个国家和地区特许经营近7600家酒店，客房总数超65万间。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
CHH vs VNET — 直观对比
营收规模更大
CHH
是对方的1.1倍
$362.7M
净利率更高
CHH
高出27.0%
-10.7%
自由现金流更多
CHH
多$257.2M
$-193.1M
两年增速更快
VNET
近两年复合增速
8.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $390.1M | $362.7M |
| 净利润 | $63.7M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 26.0% | 0.5% |
| 净利率 | 16.3% | -10.7% |
| 营收同比 | 0.1% | — |
| 净利润同比 | -16.0% | — |
| 每股收益（稀释后） | $1.35 | — |
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CHHVNET
| Q4 25 | $390.1M | — | ||
| Q3 25 | $447.3M | $362.7M | ||
| Q2 25 | $426.4M | — | ||
| Q1 25 | $332.9M | $309.5M | ||
| Q4 24 | $389.8M | — | ||
| Q3 24 | $428.0M | $302.2M | ||
| Q2 24 | $435.2M | $274.4M | ||
| Q1 24 | $331.9M | $262.9M |
净利润CHHVNET
| Q4 25 | $63.7M | — | ||
| Q3 25 | $180.0M | $-38.7M | ||
| Q2 25 | $81.7M | — | ||
| Q1 25 | $44.5M | $-2.4M | ||
| Q4 24 | $75.8M | — | ||
| Q3 24 | $105.7M | $-2.1M | ||
| Q2 24 | $87.1M | $-1.1M | ||
| Q1 24 | $31.0M | $-22.0M |
毛利率CHHVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率CHHVNET
| Q4 25 | 26.0% | — | ||
| Q3 25 | 31.8% | 0.5% | ||
| Q2 25 | 29.2% | — | ||
| Q1 25 | 24.0% | 0.1% | ||
| Q4 24 | 30.6% | — | ||
| Q3 24 | 35.5% | 24.5% | ||
| Q2 24 | 30.5% | 0.2% | ||
| Q1 24 | 18.1% | 0.2% |
净利率CHHVNET
| Q4 25 | 16.3% | — | ||
| Q3 25 | 40.2% | -10.7% | ||
| Q2 25 | 19.2% | — | ||
| Q1 25 | 13.4% | -0.8% | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 24.7% | -0.7% | ||
| Q2 24 | 20.0% | -0.4% | ||
| Q1 24 | 9.3% | -8.4% |
每股收益（稀释后）CHHVNET
| Q4 25 | $1.35 | — | ||
| Q3 25 | $3.86 | — | ||
| Q2 25 | $1.75 | — | ||
| Q1 25 | $0.94 | — | ||
| Q4 24 | $1.56 | — | ||
| Q3 24 | $2.22 | — | ||
| Q2 24 | $1.80 | — | ||
| Q1 24 | $0.62 | — |
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 | $45.0M | $492.1M |
| 总债务越低越好 | $1.9B | — |
| 股东权益账面价值 | $181.2M | $890.8M |
| 总资产 | $2.9B | $6.1B |
| 负债/权益比越低杠杆越低 | 10.52× | — |
8季度趋势，按日历期对齐
现金及短期投资CHHVNET
| Q4 25 | $45.0M | — | ||
| Q3 25 | $52.6M | $492.1M | ||
| Q2 25 | $58.6M | — | ||
| Q1 25 | $40.1M | $544.3M | ||
| Q4 24 | $40.2M | — | ||
| Q3 24 | $58.6M | $219.5M | ||
| Q2 24 | $60.4M | $247.2M | ||
| Q1 24 | $42.1M | $246.9M |
总债务CHHVNET
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.7B | — |
股东权益CHHVNET
| Q4 25 | $181.2M | — | ||
| Q3 25 | $149.8M | $890.8M | ||
| Q2 25 | $-26.2M | — | ||
| Q1 25 | $-63.9M | $927.8M | ||
| Q4 24 | $-45.3M | — | ||
| Q3 24 | $-96.2M | $902.9M | ||
| Q2 24 | $-146.8M | $900.6M | ||
| Q1 24 | $6.7M | $895.1M |
总资产CHHVNET
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | $6.1B | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.6B | $5.4B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | $4.3B | ||
| Q2 24 | $2.5B | $4.0B | ||
| Q1 24 | $2.5B | $3.9B |
负债/权益比CHHVNET
| Q4 25 | 10.52× | — | ||
| Q3 25 | 12.81× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | 252.00× | — |
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 | $85.7M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $64.1M | $-193.1M |
| 自由现金流率自由现金流/营收 | 16.4% | -53.2% |
| 资本支出强度资本支出/营收 | 5.5% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.35× | — |
| 过去12个月自由现金流最近4个季度 | $163.6M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流CHHVNET
| Q4 25 | $85.7M | — | ||
| Q3 25 | $68.7M | $113.8M | ||
| Q2 25 | $95.6M | — | ||
| Q1 25 | $20.5M | $27.0M | ||
| Q4 24 | $82.9M | — | ||
| Q3 24 | $122.9M | $108.3M | ||
| Q2 24 | $111.9M | $55.8M | ||
| Q1 24 | $1.7M | $37.1M |
自由现金流CHHVNET
| Q4 25 | $64.1M | — | ||
| Q3 25 | $49.1M | $-193.1M | ||
| Q2 25 | $65.4M | — | ||
| Q1 25 | $-15.0M | $-220.0M | ||
| Q4 24 | $57.4M | — | ||
| Q3 24 | $92.6M | $-95.0M | ||
| Q2 24 | $86.6M | $-81.6M | ||
| Q1 24 | $-23.8M | $-102.2M |
自由现金流率CHHVNET
| Q4 25 | 16.4% | — | ||
| Q3 25 | 11.0% | -53.2% | ||
| Q2 25 | 15.3% | — | ||
| Q1 25 | -4.5% | -71.1% | ||
| Q4 24 | 14.7% | — | ||
| Q3 24 | 21.6% | -31.4% | ||
| Q2 24 | 19.9% | -29.8% | ||
| Q1 24 | -7.2% | -38.9% |
资本支出强度CHHVNET
| Q4 25 | 5.5% | — | ||
| Q3 25 | 4.4% | 84.6% | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 10.7% | 79.8% | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 7.1% | 67.3% | ||
| Q2 24 | 5.8% | 50.1% | ||
| Q1 24 | 7.7% | 53.0% |
现金转化率CHHVNET
| Q4 25 | 1.35× | — | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 1.17× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 0.06× | — |
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
CHH
| Franchise And Management Fees | $157.3M | 40% |
| Revenue For Reimbursable Costs From Franchised And Managed Properties | $156.0M | 40% |
| Partnership Services And Fees | $32.5M | 8% |
| Owned Hotels | $30.1M | 8% |
| Other Revenue Topic606And Not Topic606 | $14.3M | 4% |
VNET
暂无分部数据
