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Calumet, Inc.（CLMT）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Calumet, Inc.的季度营收约是Ryman Hospitality Properties, Inc.的1.4倍（$1.0B vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -3.6%，领先13.7%），Calumet, Inc.自由现金流更多（$103.8M vs $58.5M）
Calumet是总部位于美国的特种产品企业，专注于生产和分销高价值碳氢化合物与特种化学品，产品覆盖特种油、润滑剂、蜡制品及可再生燃料解决方案，服务北美及全球的工业、消费、交通等下游领域。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
CLMT vs RHP — 直观对比
营收规模更大
CLMT
是对方的1.4倍
$737.8M
净利率更高
RHP
高出13.7%
-3.6%
自由现金流更多
CLMT
多$45.3M
$58.5M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $737.8M |
| 净利润 | $-37.3M | $74.5M |
| 毛利率 | -0.3% | 41.4% |
| 营业利润率 | -6.2% | 19.4% |
| 净利率 | -3.6% | 10.1% |
| 营收同比 | — | 13.9% |
| 净利润同比 | — | 3.0% |
| 每股收益（稀释后） | $-0.43 | $1.12 |
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CLMTRHP
| Q4 25 | $1.0B | $737.8M | ||
| Q3 25 | $1.1B | $592.5M | ||
| Q2 25 | $1.0B | $659.5M | ||
| Q1 25 | $993.9M | $587.3M | ||
| Q4 24 | — | $647.6M | ||
| Q3 24 | $1.1B | $550.0M | ||
| Q2 24 | $1.1B | $613.3M | ||
| Q1 24 | — | $528.3M |
净利润CLMTRHP
| Q4 25 | $-37.3M | $74.5M | ||
| Q3 25 | $313.4M | $34.9M | ||
| Q2 25 | $-147.9M | $71.8M | ||
| Q1 25 | $-162.0M | $63.0M | ||
| Q4 24 | — | $72.3M | ||
| Q3 24 | $-100.6M | $59.0M | ||
| Q2 24 | $-39.1M | $100.8M | ||
| Q1 24 | — | $42.8M |
毛利率CLMTRHP
| Q4 25 | -0.3% | 41.4% | ||
| Q3 25 | 34.7% | 40.9% | ||
| Q2 25 | -4.2% | 49.7% | ||
| Q1 25 | -8.2% | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | 0.4% | 43.1% | ||
| Q2 24 | 5.6% | 48.4% | ||
| Q1 24 | — | 41.5% |
营业利润率CLMTRHP
| Q4 25 | -6.2% | 19.4% | ||
| Q3 25 | 30.0% | 15.0% | ||
| Q2 25 | -9.8% | 21.1% | ||
| Q1 25 | -4.9% | 19.8% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | -5.2% | 19.3% | ||
| Q2 24 | 0.5% | 27.4% | ||
| Q1 24 | — | 18.2% |
净利率CLMTRHP
| Q4 25 | -3.6% | 10.1% | ||
| Q3 25 | 29.1% | 5.9% | ||
| Q2 25 | -14.4% | 10.9% | ||
| Q1 25 | -16.3% | 10.7% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | -9.1% | 10.7% | ||
| Q2 24 | -3.4% | 16.4% | ||
| Q1 24 | — | 8.1% |
每股收益（稀释后）CLMTRHP
| Q4 25 | $-0.43 | $1.12 | ||
| Q3 25 | $3.61 | $0.53 | ||
| Q2 25 | $-1.70 | $1.12 | ||
| Q1 25 | $-1.87 | $1.00 | ||
| Q4 24 | — | $1.12 | ||
| Q3 24 | $-1.18 | $0.94 | ||
| Q2 24 | $-0.48 | $1.65 | ||
| Q1 24 | — | $0.67 |
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 | $125.1M | $471.4M |
| 总债务越低越好 | $2.1B | — |
| 股东权益账面价值 | $-732.7M | $750.2M |
| 总资产 | $2.7B | $6.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CLMTRHP
| Q4 25 | $125.1M | $471.4M | ||
| Q3 25 | $94.6M | $483.3M | ||
| Q2 25 | $110.6M | $420.6M | ||
| Q1 25 | $123.4M | $413.9M | ||
| Q4 24 | — | $477.7M | ||
| Q3 24 | $34.6M | $534.9M | ||
| Q2 24 | $7.0M | $498.4M | ||
| Q1 24 | — | $465.3M |
总债务CLMTRHP
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CLMTRHP
| Q4 25 | $-732.7M | $750.2M | ||
| Q3 25 | $-695.3M | $758.5M | ||
| Q2 25 | $-1.0B | $800.4M | ||
| Q1 25 | $-862.3M | $531.5M | ||
| Q4 24 | — | $549.0M | ||
| Q3 24 | $-672.2M | $551.9M | ||
| Q2 24 | $-566.4M | $562.6M | ||
| Q1 24 | — | $529.9M |
总资产CLMTRHP
| Q4 25 | $2.7B | $6.2B | ||
| Q3 25 | $2.7B | $6.2B | ||
| Q2 25 | $2.8B | $6.1B | ||
| Q1 25 | $2.8B | $5.2B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $2.6B | $5.2B | ||
| Q2 24 | $100 | $5.1B | ||
| Q1 24 | — | $5.1B |
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 | $116.5M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $103.8M | $58.5M |
| 自由现金流率自由现金流/营收 | 10.0% | 7.9% |
| 资本支出强度资本支出/营收 | 1.2% | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | $56.6M | $232.4M |
8季度趋势，按日历期对齐
经营现金流CLMTRHP
| Q4 25 | $116.5M | $164.7M | ||
| Q3 25 | $23.5M | $205.2M | ||
| Q2 25 | $-1.8M | $122.5M | ||
| Q1 25 | $-29.3M | $98.2M | ||
| Q4 24 | — | $166.6M | ||
| Q3 24 | $-15.5M | $218.1M | ||
| Q2 24 | — | $184.3M | ||
| Q1 24 | — | $7.5M |
自由现金流CLMTRHP
| Q4 25 | $103.8M | $58.5M | ||
| Q3 25 | $15.1M | $135.4M | ||
| Q2 25 | $-15.4M | $53.0M | ||
| Q1 25 | $-46.9M | $-14.5M | ||
| Q4 24 | — | $76.0M | ||
| Q3 24 | $-32.2M | $85.7M | ||
| Q2 24 | — | $78.8M | ||
| Q1 24 | — | $-72.0M |
自由现金流率CLMTRHP
| Q4 25 | 10.0% | 7.9% | ||
| Q3 25 | 1.4% | 22.9% | ||
| Q2 25 | -1.5% | 8.0% | ||
| Q1 25 | -4.7% | -2.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | -2.9% | 15.6% | ||
| Q2 24 | — | 12.9% | ||
| Q1 24 | — | -13.6% |
资本支出强度CLMTRHP
| Q4 25 | 1.2% | 14.4% | ||
| Q3 25 | 0.8% | 11.8% | ||
| Q2 25 | 1.3% | 10.5% | ||
| Q1 25 | 1.8% | 19.2% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | 1.5% | 24.1% | ||
| Q2 24 | 2.2% | 17.2% | ||
| Q1 24 | — | 15.0% |
现金转化率CLMTRHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | 0.07× | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | — | 0.17× |
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
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
