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卡骆驰（CROX）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
卡骆驰的季度营收约是Ryman Hospitality Properties, Inc.的1.3倍（$957.6M vs $737.8M），卡骆驰净利率更高（11.0% vs 10.1%，领先0.9%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs -3.2%），卡骆驰自由现金流更多（$246.4M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 1.0%）
卡骆驰（Crocs）是总部位于美国科罗拉多州布鲁姆菲尔德的鞋履企业，主打生产、销售旗下同名品牌的泡沫鞋履产品。其标志性鞋款虽被品牌称为“木屐”，但和传统木屐不同，不含木质材料，凭借舒适轻便的特性受到全球消费者喜爱。
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。
CROX vs RHP — 直观对比
营收规模更大
CROX
是对方的1.3倍
$737.8M
营收增速更快
RHP
高出17.2%
-3.2%
净利率更高
CROX
高出0.9%
10.1%
自由现金流更多
CROX
多$187.9M
$58.5M
两年增速更快
RHP
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $957.6M | $737.8M |
| 净利润 | $105.2M | $74.5M |
| 毛利率 | 54.7% | 41.4% |
| 营业利润率 | 15.3% | 19.4% |
| 净利率 | 11.0% | 10.1% |
| 营收同比 | -3.2% | 13.9% |
| 净利润同比 | -71.5% | 3.0% |
| 每股收益（稀释后） | $1.79 | $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CROXRHP
| Q4 25 | $957.6M | $737.8M | ||
| Q3 25 | $996.3M | $592.5M | ||
| Q2 25 | $1.1B | $659.5M | ||
| Q1 25 | $937.3M | $587.3M | ||
| Q4 24 | $989.8M | $647.6M | ||
| Q3 24 | $1.1B | $550.0M | ||
| Q2 24 | $1.1B | $613.3M | ||
| Q1 24 | $938.6M | $528.3M |
净利润CROXRHP
| Q4 25 | $105.2M | $74.5M | ||
| Q3 25 | $145.8M | $34.9M | ||
| Q2 25 | $-492.3M | $71.8M | ||
| Q1 25 | $160.1M | $63.0M | ||
| Q4 24 | $368.9M | $72.3M | ||
| Q3 24 | $199.8M | $59.0M | ||
| Q2 24 | $228.9M | $100.8M | ||
| Q1 24 | $152.5M | $42.8M |
毛利率CROXRHP
| Q4 25 | 54.7% | 41.4% | ||
| Q3 25 | 58.5% | 40.9% | ||
| Q2 25 | 61.7% | 49.7% | ||
| Q1 25 | 57.8% | 44.4% | ||
| Q4 24 | 57.9% | 40.4% | ||
| Q3 24 | 59.6% | 43.1% | ||
| Q2 24 | 61.4% | 48.4% | ||
| Q1 24 | 55.6% | 41.5% |
营业利润率CROXRHP
| Q4 25 | 15.3% | 19.4% | ||
| Q3 25 | 20.8% | 15.0% | ||
| Q2 25 | -37.2% | 21.1% | ||
| Q1 25 | 23.8% | 19.8% | ||
| Q4 24 | 20.2% | 18.6% | ||
| Q3 24 | 25.4% | 19.3% | ||
| Q2 24 | 29.3% | 27.4% | ||
| Q1 24 | 24.1% | 18.2% |
净利率CROXRHP
| Q4 25 | 11.0% | 10.1% | ||
| Q3 25 | 14.6% | 5.9% | ||
| Q2 25 | -42.8% | 10.9% | ||
| Q1 25 | 17.1% | 10.7% | ||
| Q4 24 | 37.3% | 11.2% | ||
| Q3 24 | 18.8% | 10.7% | ||
| Q2 24 | 20.6% | 16.4% | ||
| Q1 24 | 16.2% | 8.1% |
每股收益（稀释后）CROXRHP
| Q4 25 | $1.79 | $1.12 | ||
| Q3 25 | $2.70 | $0.53 | ||
| Q2 25 | $-8.82 | $1.12 | ||
| Q1 25 | $2.83 | $1.00 | ||
| Q4 24 | $6.25 | $1.12 | ||
| Q3 24 | $3.36 | $0.94 | ||
| Q2 24 | $3.77 | $1.65 | ||
| Q1 24 | $2.50 | $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 | $130.4M | $471.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $750.2M |
| 总资产 | $4.2B | $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CROXRHP
| Q4 25 | $130.4M | $471.4M | ||
| Q3 25 | $154.0M | $483.3M | ||
| Q2 25 | $200.6M | $420.6M | ||
| Q1 25 | $166.5M | $413.9M | ||
| Q4 24 | $180.5M | $477.7M | ||
| Q3 24 | $186.1M | $534.9M | ||
| Q2 24 | $167.7M | $498.4M | ||
| Q1 24 | $159.3M | $465.3M |
股东权益CROXRHP
| Q4 25 | $1.3B | $750.2M | ||
| Q3 25 | $1.4B | $758.5M | ||
| Q2 25 | $1.4B | $800.4M | ||
| Q1 25 | $2.0B | $531.5M | ||
| Q4 24 | $1.8B | $549.0M | ||
| Q3 24 | $1.7B | $551.9M | ||
| Q2 24 | $1.7B | $562.6M | ||
| Q1 24 | $1.6B | $529.9M |
总资产CROXRHP
| Q4 25 | $4.2B | $6.2B | ||
| Q3 25 | $4.3B | $6.2B | ||
| Q2 25 | $4.5B | $6.1B | ||
| Q1 25 | $5.1B | $5.2B | ||
| Q4 24 | $4.8B | $5.2B | ||
| Q3 24 | $4.7B | $5.2B | ||
| Q2 24 | $4.7B | $5.1B | ||
| Q1 24 | $4.8B | $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 | $252.5M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $246.4M | $58.5M |
| 自由现金流率自由现金流/营收 | 25.7% | 7.9% |
| 资本支出强度资本支出/营收 | 0.6% | 14.4% |
| 现金转化率经营现金流/净利润 | 2.40× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $659.2M | $232.4M |
8季度趋势，按日历期对齐
经营现金流CROXRHP
| Q4 25 | $252.5M | $164.7M | ||
| Q3 25 | $239.3M | $205.2M | ||
| Q2 25 | $285.8M | $122.5M | ||
| Q1 25 | $-67.2M | $98.2M | ||
| Q4 24 | $321.9M | $166.6M | ||
| Q3 24 | $296.9M | $218.1M | ||
| Q2 24 | $401.2M | $184.3M | ||
| Q1 24 | $-27.6M | $7.5M |
自由现金流CROXRHP
| Q4 25 | $246.4M | $58.5M | ||
| Q3 25 | $226.2M | $135.4M | ||
| Q2 25 | $269.2M | $53.0M | ||
| Q1 25 | $-82.6M | $-14.5M | ||
| Q4 24 | $303.4M | $76.0M | ||
| Q3 24 | $278.8M | $85.7M | ||
| Q2 24 | $384.2M | $78.8M | ||
| Q1 24 | $-43.3M | $-72.0M |
自由现金流率CROXRHP
| Q4 25 | 25.7% | 7.9% | ||
| Q3 25 | 22.7% | 22.9% | ||
| Q2 25 | 23.4% | 8.0% | ||
| Q1 25 | -8.8% | -2.5% | ||
| Q4 24 | 30.7% | 11.7% | ||
| Q3 24 | 26.3% | 15.6% | ||
| Q2 24 | 34.6% | 12.9% | ||
| Q1 24 | -4.6% | -13.6% |
资本支出强度CROXRHP
| Q4 25 | 0.6% | 14.4% | ||
| Q3 25 | 1.3% | 11.8% | ||
| Q2 25 | 1.4% | 10.5% | ||
| Q1 25 | 1.6% | 19.2% | ||
| Q4 24 | 1.9% | 14.0% | ||
| Q3 24 | 1.7% | 24.1% | ||
| Q2 24 | 1.5% | 17.2% | ||
| Q1 24 | 1.7% | 15.0% |
现金转化率CROXRHP
| Q4 25 | 2.40× | 2.21× | ||
| Q3 25 | 1.64× | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | -0.42× | 1.56× | ||
| Q4 24 | 0.87× | 2.30× | ||
| Q3 24 | 1.49× | 3.70× | ||
| Q2 24 | 1.75× | 1.83× | ||
| Q1 24 | -0.18× | 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
CROX
| Sales Channel Directly To Consumer | $333.2M | 35% |
| Other | $332.1M | 35% |
| HEYDUDE Brand Segment | $189.3M | 20% |
| Sales Channel Through Intermediary Wholesale | $103.1M | 11% |
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% |
