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CIMPRESS plc（CMPR）与MARRIOTT VACATIONS WORLDWIDE Corp（VAC）财务数据对比。点击上方公司名可切换其他公司
MARRIOTT VACATIONS WORLDWIDE Corp的季度营收约是CIMPRESS plc的1.2倍（$1.2B vs $1.0B），CIMPRESS plc净利率更高（4.7% vs -35.0%，领先39.7%），CIMPRESS plc同比增速更快（11.0% vs -0.7%），CIMPRESS plc自由现金流更多（$139.5M vs $-6.0M）
Cimpress plc是总部位于爱尔兰的跨国科技企业，专注于投资和运营大量采用规模化定制技术的业务，可配置生产小批量个性化定制商品，通过旗下多个面向客户的品牌，向小型企业、设计师及普通消费者供应相关产品。
万豪度假环球集团是专注于分时度假业务的公众企业，原为万豪国际集团旗下业务板块，2011年11月分拆为独立上市公司，核心业务为度假所有权运营。目前集团运营超过120家度假村，在万豪度假俱乐部品牌矩阵下拥有超70万名业主及会员，产品覆盖多个度假消费场景。
CMPR vs VAC — 直观对比
营收规模更大
VAC
是对方的1.2倍
$1.0B
营收增速更快
CMPR
高出11.7%
-0.7%
净利率更高
CMPR
高出39.7%
-35.0%
自由现金流更多
CMPR
多$145.5M
$-6.0M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $49.3M | $-431.0M |
| 毛利率 | 46.8% | — |
| 营业利润率 | 8.5% | — |
| 净利率 | 4.7% | -35.0% |
| 营收同比 | 11.0% | -0.7% |
| 净利润同比 | -19.2% | -962.0% |
| 每股收益（稀释后） | $1.95 | $-12.00 |
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CMPRVAC
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $863.3M | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
净利润CMPRVAC
| Q4 25 | $49.3M | $-431.0M | ||
| Q3 25 | $7.6M | $-2.0M | ||
| Q2 25 | — | $69.0M | ||
| Q1 25 | — | $56.0M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | — | $84.0M | ||
| Q2 24 | — | $37.0M | ||
| Q1 24 | — | $47.0M |
毛利率CMPRVAC
| Q4 25 | 46.8% | — | ||
| Q3 25 | 46.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率CMPRVAC
| Q4 25 | 8.5% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
净利率CMPRVAC
| Q4 25 | 4.7% | -35.0% | ||
| Q3 25 | 0.9% | -0.2% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 6.9% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 4.2% |
每股收益（稀释后）CMPRVAC
| Q4 25 | $1.95 | $-12.00 | ||
| Q3 25 | $0.30 | $-0.07 | ||
| Q2 25 | — | $1.77 | ||
| Q1 25 | — | $1.46 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | — | $2.12 | ||
| Q2 24 | — | $0.98 | ||
| Q1 24 | — | $1.22 |
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 | $258.0M | $406.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $-530.7M | $2.0B |
| 总资产 | $2.1B | $9.8B |
| 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CMPRVAC
| Q4 25 | $258.0M | $406.0M | ||
| Q3 25 | $200.5M | $474.0M | ||
| Q2 25 | — | $205.0M | ||
| Q1 25 | — | $196.0M | ||
| Q4 24 | — | $197.0M | ||
| Q3 24 | — | $197.0M | ||
| Q2 24 | — | $206.0M | ||
| Q1 24 | — | $237.0M |
股东权益CMPRVAC
| Q4 25 | $-530.7M | $2.0B | ||
| Q3 25 | $-571.3M | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总资产CMPRVAC
| Q4 25 | $2.1B | $9.8B | ||
| Q3 25 | $2.0B | $10.1B | ||
| Q2 25 | — | $9.9B | ||
| Q1 25 | — | $9.9B | ||
| Q4 24 | — | $9.8B | ||
| Q3 24 | — | $9.7B | ||
| Q2 24 | — | $9.6B | ||
| Q1 24 | — | $9.9B |
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 | $164.7M | $6.0M |
| 自由现金流经营现金流 - 资本支出 | $139.5M | $-6.0M |
| 自由现金流率自由现金流/营收 | 13.4% | -0.5% |
| 资本支出强度资本支出/营收 | 2.4% | 1.0% |
| 现金转化率经营现金流/净利润 | 3.34× | — |
| 过去12个月自由现金流最近4个季度 | — | $-29.0M |
8季度趋势，按日历期对齐
经营现金流CMPRVAC
| Q4 25 | $164.7M | $6.0M | ||
| Q3 25 | $25.1M | $62.0M | ||
| Q2 25 | — | $-48.0M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $72.0M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | — | $3.0M |
自由现金流CMPRVAC
| Q4 25 | $139.5M | $-6.0M | ||
| Q3 25 | $-1.3M | $51.0M | ||
| Q2 25 | — | $-68.0M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | — | $58.0M | ||
| Q2 24 | — | $17.0M | ||
| Q1 24 | — | $-13.0M |
自由现金流率CMPRVAC
| Q4 25 | 13.4% | -0.5% | ||
| Q3 25 | -0.1% | 4.3% | ||
| Q2 25 | — | -5.9% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | -1.2% |
资本支出强度CMPRVAC
| Q4 25 | 2.4% | 1.0% | ||
| Q3 25 | 3.1% | 0.9% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.4% |
现金转化率CMPRVAC
| Q4 25 | 3.34× | — | ||
| Q3 25 | 3.28× | — | ||
| Q2 25 | — | -0.70× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| 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
CMPR
| Vista | $532.8M | 51% |
| Print Brothers | $219.9M | 21% |
| National Pen | $150.9M | 14% |
| The Print Group | $115.2M | 11% |
| All Other Businesses | $67.2M | 6% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
