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科蒂（COTY）与凯悦酒店集团（H）财务数据对比。点击上方公司名可切换其他公司
凯悦酒店集团的季度营收约是科蒂的1.1倍（$1.8B vs $1.7B），凯悦酒店集团净利率更高（-1.1% vs -7.4%，领先6.2%），凯悦酒店集团同比增速更快（11.7% vs 0.5%），科蒂自由现金流更多（$513.1M vs $236.0M），过去两年科蒂的营收复合增速更高（10.1% vs 2.2%）
科蒂是1904年由弗朗索瓦·科蒂在巴黎创立的跨国美妆企业，现注册地为美国特拉华州，全球总部位于荷兰阿姆斯特丹。旗下业务覆盖香水、彩妆、护肤、美甲产品以及专业线和零售线护发产品的研发、生产、营销与分销，截至2024年共拥有约40个品牌。
凯悦酒店集团是来自美国的跨国酒店管理企业，总部位于芝加哥河畔广场区域，由普利兹克家族运营管理。集团主营高端及商务酒店、度假村、度假物业的管理与特许经营业务，目前在全球69个国家拥有逾1350家酒店及一价全包物业，覆盖六大洲。
COTY vs H — 直观对比
营收规模更大
H
是对方的1.1倍
$1.7B
营收增速更快
H
高出11.2%
0.5%
净利率更高
H
高出6.2%
-7.4%
自由现金流更多
COTY
多$277.1M
$236.0M
两年增速更快
COTY
近两年复合增速
2.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.8B |
| 净利润 | $-123.6M | $-20.0M |
| 毛利率 | 63.8% | — |
| 营业利润率 | 8.8% | 0.4% |
| 净利率 | -7.4% | -1.1% |
| 营收同比 | 0.5% | 11.7% |
| 净利润同比 | -621.5% | 64.3% |
| 每股收益（稀释后） | $-0.14 | $-0.20 |
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COTYH
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.7B | $1.6B | ||
| Q3 24 | $1.7B | $1.6B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | $1.4B | $1.7B |
净利润COTYH
| Q4 25 | $-123.6M | $-20.0M | ||
| Q3 25 | $67.9M | $-49.0M | ||
| Q2 25 | $-68.8M | $-3.0M | ||
| Q1 25 | $-405.7M | $20.0M | ||
| Q4 24 | $23.7M | $-56.0M | ||
| Q3 24 | $82.9M | $471.0M | ||
| Q2 24 | $-96.9M | $359.0M | ||
| Q1 24 | $3.8M | $522.0M |
毛利率COTYH
| Q4 25 | 63.8% | — | ||
| Q3 25 | 64.5% | — | ||
| Q2 25 | 62.3% | — | ||
| Q1 25 | 64.1% | — | ||
| Q4 24 | 66.7% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 64.2% | — | ||
| Q1 24 | 64.8% | — |
营业利润率COTYH
| Q4 25 | 8.8% | 0.4% | ||
| Q3 25 | 11.7% | -1.0% | ||
| Q2 25 | 1.2% | 2.1% | ||
| Q1 25 | -21.6% | 3.0% | ||
| Q4 24 | 16.1% | -3.0% | ||
| Q3 24 | 14.2% | 37.3% | ||
| Q2 24 | 2.5% | 27.1% | ||
| Q1 24 | 5.6% | 31.6% |
净利率COTYH
| Q4 25 | -7.4% | -1.1% | ||
| Q3 25 | 4.3% | -2.7% | ||
| Q2 25 | -5.5% | -0.2% | ||
| Q1 25 | -31.2% | 1.2% | ||
| Q4 24 | 1.4% | -3.5% | ||
| Q3 24 | 5.0% | 28.9% | ||
| Q2 24 | -7.1% | 21.1% | ||
| Q1 24 | 0.3% | 30.5% |
每股收益（稀释后）COTYH
| Q4 25 | $-0.14 | $-0.20 | ||
| Q3 25 | $0.07 | $-0.51 | ||
| Q2 25 | $-0.08 | $-0.03 | ||
| Q1 25 | $-0.47 | $0.19 | ||
| Q4 24 | $0.02 | $-0.37 | ||
| Q3 24 | $0.09 | $4.63 | ||
| Q2 24 | $-0.11 | $3.46 | ||
| Q1 24 | $0.00 | $4.93 |
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 | $436.7M | $813.0M |
| 总债务越低越好 | $3.0B | — |
| 股东权益账面价值 | $3.5B | $3.3B |
| 总资产 | $11.1B | $14.0B |
| 负债/权益比越低杠杆越低 | 0.85× | — |
8季度趋势，按日历期对齐
现金及短期投资COTYH
| Q4 25 | $436.7M | $813.0M | ||
| Q3 25 | $264.6M | $749.0M | ||
| Q2 25 | $257.1M | $912.0M | ||
| Q1 25 | $243.5M | $1.8B | ||
| Q4 24 | $249.6M | $1.4B | ||
| Q3 24 | $283.6M | $1.1B | ||
| Q2 24 | $300.8M | $2.0B | ||
| Q1 24 | $260.2M | $794.0M |
总债务COTYH
| Q4 25 | $3.0B | — | ||
| Q3 25 | $4.0B | $6.0B | ||
| Q2 25 | $4.0B | $6.0B | ||
| Q1 25 | $3.8B | $4.3B | ||
| Q4 24 | $3.4B | $3.8B | ||
| Q3 24 | $3.9B | $3.1B | ||
| Q2 24 | $3.8B | $3.9B | ||
| Q1 24 | $3.9B | $3.1B |
股东权益COTYH
| Q4 25 | $3.5B | $3.3B | ||
| Q3 25 | $3.6B | $3.5B | ||
| Q2 25 | $3.5B | $3.6B | ||
| Q1 25 | $3.5B | $3.5B | ||
| Q4 24 | $3.8B | $3.5B | ||
| Q3 24 | $4.0B | $3.7B | ||
| Q2 24 | $3.8B | $3.9B | ||
| Q1 24 | $4.0B | $3.7B |
总资产COTYH
| Q4 25 | $11.1B | $14.0B | ||
| Q3 25 | $12.1B | $15.7B | ||
| Q2 25 | $11.9B | $15.9B | ||
| Q1 25 | $11.5B | $14.0B | ||
| Q4 24 | $11.7B | $13.3B | ||
| Q3 24 | $12.5B | $11.9B | ||
| Q2 24 | $12.1B | $12.8B | ||
| Q1 24 | $12.3B | $11.7B |
负债/权益比COTYH
| Q4 25 | 0.85× | — | ||
| Q3 25 | 1.10× | 1.73× | ||
| Q2 25 | 1.12× | 1.69× | ||
| Q1 25 | 1.09× | 1.25× | ||
| Q4 24 | 0.89× | 1.07× | ||
| Q3 24 | 0.97× | 0.85× | ||
| Q2 24 | 1.00× | 1.01× | ||
| Q1 24 | 0.98× | 0.84× |
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 | $559.7M | $313.0M |
| 自由现金流经营现金流 - 资本支出 | $513.1M | $236.0M |
| 自由现金流率自由现金流/营收 | 30.6% | 13.2% |
| 资本支出强度资本支出/营收 | 2.8% | 4.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $390.8M | $159.0M |
8季度趋势，按日历期对齐
经营现金流COTYH
| Q4 25 | $559.7M | $313.0M | ||
| Q3 25 | $65.2M | $-20.0M | ||
| Q2 25 | $83.2M | $-67.0M | ||
| Q1 25 | $-122.5M | $153.0M | ||
| Q4 24 | $464.5M | $235.0M | ||
| Q3 24 | $67.4M | $-21.0M | ||
| Q2 24 | $176.5M | $177.0M | ||
| Q1 24 | $-170.0M | $242.0M |
自由现金流COTYH
| Q4 25 | $513.1M | $236.0M | ||
| Q3 25 | $11.2M | $-89.0M | ||
| Q2 25 | $34.9M | $-111.0M | ||
| Q1 25 | $-168.4M | $123.0M | ||
| Q4 24 | $419.0M | $184.0M | ||
| Q3 24 | $-7.9M | $-64.0M | ||
| Q2 24 | $116.7M | $135.0M | ||
| Q1 24 | $-234.3M | $208.0M |
自由现金流率COTYH
| Q4 25 | 30.6% | 13.2% | ||
| Q3 25 | 0.7% | -5.0% | ||
| Q2 25 | 2.8% | -6.1% | ||
| Q1 25 | -13.0% | 7.2% | ||
| Q4 24 | 25.1% | 11.5% | ||
| Q3 24 | -0.5% | -3.9% | ||
| Q2 24 | 8.6% | 7.9% | ||
| Q1 24 | -16.9% | 12.1% |
资本支出强度COTYH
| Q4 25 | 2.8% | 4.3% | ||
| Q3 25 | 3.4% | 3.9% | ||
| Q2 25 | 3.9% | 2.4% | ||
| Q1 25 | 3.5% | 1.7% | ||
| Q4 24 | 2.7% | 3.2% | ||
| Q3 24 | 4.5% | 2.6% | ||
| Q2 24 | 4.4% | 2.5% | ||
| Q1 24 | 4.6% | 2.0% |
现金转化率COTYH
| Q4 25 | — | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.65× | ||
| Q4 24 | 19.60× | — | ||
| Q3 24 | 0.81× | -0.04× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | -44.74× | 0.46× |
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
COTY
| Prestige | $1.1B | 68% |
| Consumer Beauty | $545.0M | 32% |
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
