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AMERICOLD REALTY TRUST（COLD）与Hilton Grand Vacations Inc.（HGV）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是AMERICOLD REALTY TRUST的1.9倍（$1.2B vs $643.1M），Hilton Grand Vacations Inc.净利率更高（4.0% vs -13.7%，领先17.8%），Hilton Grand Vacations Inc.同比增速更快（3.7% vs -0.7%），Hilton Grand Vacations Inc.自由现金流更多（$147.0M vs $-12.2M），过去两年Hilton Grand Vacations Inc.的营收复合增速更高（7.4% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
COLD vs HGV — 直观对比
营收规模更大
HGV
是对方的1.9倍
$643.1M
营收增速更快
HGV
高出4.4%
-0.7%
净利率更高
HGV
高出17.8%
-13.7%
自由现金流更多
HGV
多$159.2M
$-12.2M
两年增速更快
HGV
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $643.1M | $1.2B |
| 净利润 | $-88.3M | $48.0M |
| 毛利率 | 31.3% | — |
| 营业利润率 | -10.8% | 7.8% |
| 净利率 | -13.7% | 4.0% |
| 营收同比 | -0.7% | 3.7% |
| 净利润同比 | -143.9% | 140.0% |
| 每股收益（稀释后） | $-0.31 | $0.53 |
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COLDHGV
| Q4 25 | $643.1M | $1.2B | ||
| Q3 25 | $649.0M | $1.2B | ||
| Q2 25 | $635.1M | $1.1B | ||
| Q1 25 | $613.7M | $1.0B | ||
| Q4 24 | $647.4M | $1.1B | ||
| Q3 24 | $660.4M | $1.2B | ||
| Q2 24 | $645.6M | $1.1B | ||
| Q1 24 | $651.4M | $1.0B |
净利润COLDHGV
| Q4 25 | $-88.3M | $48.0M | ||
| Q3 25 | $-11.4M | $25.0M | ||
| Q2 25 | $1.5M | $25.0M | ||
| Q1 25 | $-16.4M | $-17.0M | ||
| Q4 24 | $-36.2M | $20.0M | ||
| Q3 24 | $-3.7M | $29.0M | ||
| Q2 24 | $-64.1M | $2.0M | ||
| Q1 24 | $9.7M | $-4.0M |
毛利率COLDHGV
| Q4 25 | 31.3% | — | ||
| Q3 25 | 29.3% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 31.1% | — | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
营业利润率COLDHGV
| Q4 25 | -10.8% | 7.8% | ||
| Q3 25 | 2.6% | 3.9% | ||
| Q2 25 | 5.9% | 3.8% | ||
| Q1 25 | 3.6% | -0.6% | ||
| Q4 24 | -1.8% | 4.3% | ||
| Q3 24 | 4.6% | 7.9% | ||
| Q2 24 | 9.8% | 0.6% | ||
| Q1 24 | 6.4% | -1.3% |
净利率COLDHGV
| Q4 25 | -13.7% | 4.0% | ||
| Q3 25 | -1.8% | 2.1% | ||
| Q2 25 | 0.2% | 2.2% | ||
| Q1 25 | -2.7% | -1.7% | ||
| Q4 24 | -5.6% | 1.7% | ||
| Q3 24 | -0.6% | 2.5% | ||
| Q2 24 | -9.9% | 0.2% | ||
| Q1 24 | 1.5% | -0.4% |
每股收益（稀释后）COLDHGV
| Q4 25 | $-0.31 | $0.53 | ||
| Q3 25 | $-0.04 | $0.28 | ||
| Q2 25 | $0.01 | $0.25 | ||
| Q1 25 | $-0.06 | $-0.17 | ||
| Q4 24 | $-0.12 | $0.19 | ||
| Q3 24 | $-0.01 | $0.28 | ||
| Q2 24 | $-0.23 | $0.02 | ||
| Q1 24 | $0.03 | $-0.04 |
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 | $136.9M | $239.0M |
| 总债务越低越好 | — | $4.5B |
| 股东权益账面价值 | $2.9B | $1.3B |
| 总资产 | $8.1B | $11.5B |
| 负债/权益比越低杠杆越低 | — | 3.53× |
8季度趋势，按日历期对齐
现金及短期投资COLDHGV
| Q4 25 | $136.9M | $239.0M | ||
| Q3 25 | $33.3M | $215.0M | ||
| Q2 25 | $101.4M | $269.0M | ||
| Q1 25 | $38.9M | $259.0M | ||
| Q4 24 | $47.7M | $328.0M | ||
| Q3 24 | $61.3M | $297.0M | ||
| Q2 24 | $44.2M | $328.0M | ||
| Q1 24 | $59.2M | $355.0M |
总债务COLDHGV
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $5.1B |
股东权益COLDHGV
| Q4 25 | $2.9B | $1.3B | ||
| Q3 25 | $3.0B | $1.4B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $3.2B | $1.6B | ||
| Q4 24 | $3.3B | $1.8B | ||
| Q3 24 | $3.4B | $1.8B | ||
| Q2 24 | $3.4B | $1.9B | ||
| Q1 24 | $3.6B | $2.0B |
总资产COLDHGV
| Q4 25 | $8.1B | $11.5B | ||
| Q3 25 | $8.1B | $11.7B | ||
| Q2 25 | $8.1B | $11.7B | ||
| Q1 25 | $7.8B | $11.8B | ||
| Q4 24 | $7.7B | $11.4B | ||
| Q3 24 | $7.9B | $11.2B | ||
| Q2 24 | $7.8B | $11.5B | ||
| Q1 24 | $7.8B | $11.7B |
负债/权益比COLDHGV
| Q4 25 | — | 3.53× | ||
| Q3 25 | — | 3.41× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | — | 2.83× | ||
| Q4 24 | — | 2.63× | ||
| Q3 24 | — | 2.73× | ||
| Q2 24 | — | 2.55× | ||
| Q1 24 | — | 2.57× |
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 | $130.2M | $167.0M |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | $147.0M |
| 自由现金流率自由现金流/营收 | -1.9% | 12.3% |
| 资本支出强度资本支出/营收 | 22.1% | 1.7% |
| 现金转化率经营现金流/净利润 | — | 3.48× |
| 过去12个月自由现金流最近4个季度 | $-217.2M | $230.0M |
8季度趋势，按日历期对齐
经营现金流COLDHGV
| Q4 25 | $130.2M | $167.0M | ||
| Q3 25 | $78.9M | $34.0M | ||
| Q2 25 | $120.3M | $61.0M | ||
| Q1 25 | $30.2M | $38.0M | ||
| Q4 24 | $162.6M | $105.0M | ||
| Q3 24 | $50.6M | $91.0M | ||
| Q2 24 | $136.7M | $113.0M | ||
| Q1 24 | $62.0M | $0 |
自由现金流COLDHGV
| Q4 25 | $-12.2M | $147.0M | ||
| Q3 25 | $-65.4M | $13.0M | ||
| Q2 25 | $-57.4M | $46.0M | ||
| Q1 25 | $-82.3M | $24.0M | ||
| Q4 24 | $57.4M | $90.0M | ||
| Q3 24 | $-44.5M | $81.0M | ||
| Q2 24 | $73.3M | $106.0M | ||
| Q1 24 | $16.2M | — |
自由现金流率COLDHGV
| Q4 25 | -1.9% | 12.3% | ||
| Q3 25 | -10.1% | 1.1% | ||
| Q2 25 | -9.0% | 4.0% | ||
| Q1 25 | -13.4% | 2.4% | ||
| Q4 24 | 8.9% | 7.8% | ||
| Q3 24 | -6.7% | 6.9% | ||
| Q2 24 | 11.4% | 9.6% | ||
| Q1 24 | 2.5% | — |
资本支出强度COLDHGV
| Q4 25 | 22.1% | 1.7% | ||
| Q3 25 | 22.2% | 1.8% | ||
| Q2 25 | 28.0% | 1.3% | ||
| Q1 25 | 18.3% | 1.4% | ||
| Q4 24 | 16.3% | 1.3% | ||
| Q3 24 | 14.4% | 0.9% | ||
| Q2 24 | 9.8% | 0.6% | ||
| Q1 24 | 7.0% | 1.0% |
现金转化率COLDHGV
| Q4 25 | — | 3.48× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | 78.18× | 2.44× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | — | 3.14× | ||
| Q2 24 | — | 56.50× | ||
| Q1 24 | 6.36× | — |
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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
