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美商海盗船（CRSR）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
Ryman Hospitality Properties, Inc.的季度营收约是美商海盗船的1.7倍（$737.8M vs $436.9M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs 5.9%，领先4.2%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 5.6%），Ryman Hospitality Properties, Inc.自由现金流更多（$58.5M vs $32.9M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 13.8%）
美商海盗船是源自美国的电脑外设与电竞硬件品牌，总部位于加利福尼亚州米尔皮塔斯。公司创立于1994年，原名海盗船微系统，后更名为海盗船组件、海盗船内存，2007年重新在特拉华州注册。主打产品涵盖高速内存模块、电源、闪存、CPU显卡与机箱散热、电竞外设、电脑机箱等各类电脑相关产品。
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。
CRSR vs RHP — 直观对比
营收规模更大
RHP
是对方的1.7倍
$436.9M
营收增速更快
RHP
高出8.3%
5.6%
净利率更高
RHP
高出4.2%
5.9%
自由现金流更多
RHP
多$25.6M
$32.9M
两年增速更快
RHP
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $436.9M | $737.8M |
| 净利润 | $25.8M | $74.5M |
| 毛利率 | 33.1% | 41.4% |
| 营业利润率 | 6.2% | 19.4% |
| 净利率 | 5.9% | 10.1% |
| 营收同比 | 5.6% | 13.9% |
| 净利润同比 | 1028.2% | 3.0% |
| 每股收益（稀释后） | $0.23 | $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CRSRRHP
| Q4 25 | $436.9M | $737.8M | ||
| Q3 25 | $345.8M | $592.5M | ||
| Q2 25 | $320.1M | $659.5M | ||
| Q1 25 | $369.8M | $587.3M | ||
| Q4 24 | $413.6M | $647.6M | ||
| Q3 24 | $304.2M | $550.0M | ||
| Q2 24 | $261.3M | $613.3M | ||
| Q1 24 | $337.3M | $528.3M |
净利润CRSRRHP
| Q4 25 | $25.8M | $74.5M | ||
| Q3 25 | $-10.6M | $34.9M | ||
| Q2 25 | $-20.9M | $71.8M | ||
| Q1 25 | $-10.5M | $63.0M | ||
| Q4 24 | $2.3M | $72.3M | ||
| Q3 24 | $-51.7M | $59.0M | ||
| Q2 24 | $-24.2M | $100.8M | ||
| Q1 24 | $-11.6M | $42.8M |
毛利率CRSRRHP
| Q4 25 | 33.1% | 41.4% | ||
| Q3 25 | 26.9% | 40.9% | ||
| Q2 25 | 26.8% | 49.7% | ||
| Q1 25 | 27.7% | 44.4% | ||
| Q4 24 | 26.2% | 40.4% | ||
| Q3 24 | 22.9% | 43.1% | ||
| Q2 24 | 24.1% | 48.4% | ||
| Q1 24 | 25.7% | 41.5% |
营业利润率CRSRRHP
| Q4 25 | 6.2% | 19.4% | ||
| Q3 25 | -1.6% | 15.0% | ||
| Q2 25 | -5.3% | 21.1% | ||
| Q1 25 | -0.6% | 19.8% | ||
| Q4 24 | 1.4% | 18.6% | ||
| Q3 24 | -6.9% | 19.3% | ||
| Q2 24 | -9.5% | 27.4% | ||
| Q1 24 | -3.0% | 18.2% |
净利率CRSRRHP
| Q4 25 | 5.9% | 10.1% | ||
| Q3 25 | -3.1% | 5.9% | ||
| Q2 25 | -6.5% | 10.9% | ||
| Q1 25 | -2.8% | 10.7% | ||
| Q4 24 | 0.6% | 11.2% | ||
| Q3 24 | -17.0% | 10.7% | ||
| Q2 24 | -9.3% | 16.4% | ||
| Q1 24 | -3.4% | 8.1% |
每股收益（稀释后）CRSRRHP
| Q4 25 | $0.23 | $1.12 | ||
| Q3 25 | $-0.09 | $0.53 | ||
| Q2 25 | $-0.16 | $1.12 | ||
| Q1 25 | $-0.10 | $1.00 | ||
| Q4 24 | $0.01 | $1.12 | ||
| Q3 24 | $-0.56 | $0.94 | ||
| Q2 24 | $-0.28 | $1.65 | ||
| Q1 24 | $-0.12 | $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 | — | $471.4M |
| 总债务越低越好 | $121.3M | — |
| 股东权益账面价值 | $633.6M | $750.2M |
| 总资产 | $1.3B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资CRSRRHP
| Q4 25 | — | $471.4M | ||
| Q3 25 | — | $483.3M | ||
| Q2 25 | — | $420.6M | ||
| Q1 25 | — | $413.9M | ||
| Q4 24 | — | $477.7M | ||
| Q3 24 | — | $534.9M | ||
| Q2 24 | — | $498.4M | ||
| Q1 24 | — | $465.3M |
总债务CRSRRHP
| Q4 25 | $121.3M | — | ||
| Q3 25 | $122.9M | — | ||
| Q2 25 | $124.4M | — | ||
| Q1 25 | $148.7M | — | ||
| Q4 24 | $173.5M | — | ||
| Q3 24 | $177.2M | — | ||
| Q2 24 | $180.3M | — | ||
| Q1 24 | $183.3M | — |
股东权益CRSRRHP
| Q4 25 | $633.6M | $750.2M | ||
| Q3 25 | $600.2M | $758.5M | ||
| Q2 25 | $603.9M | $800.4M | ||
| Q1 25 | $608.8M | $531.5M | ||
| Q4 24 | $604.3M | $549.0M | ||
| Q3 24 | $598.5M | $551.9M | ||
| Q2 24 | $642.7M | $562.6M | ||
| Q1 24 | $663.5M | $529.9M |
总资产CRSRRHP
| Q4 25 | $1.3B | $6.2B | ||
| Q3 25 | $1.2B | $6.2B | ||
| Q2 25 | $1.2B | $6.1B | ||
| Q1 25 | $1.2B | $5.2B | ||
| Q4 24 | $1.2B | $5.2B | ||
| Q3 24 | $1.2B | $5.2B | ||
| Q2 24 | $1.2B | $5.1B | ||
| Q1 24 | $1.3B | $5.1B |
负债/权益比CRSRRHP
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.21× | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | 0.28× | — | ||
| Q1 24 | 0.28× | — |
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 | $38.2M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $32.9M | $58.5M |
| 自由现金流率自由现金流/营收 | 7.5% | 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 | 1.48× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $34.7M | $232.4M |
8季度趋势，按日历期对齐
经营现金流CRSRRHP
| Q4 25 | $38.2M | $164.7M | ||
| Q3 25 | $-37.0M | $205.2M | ||
| Q2 25 | $30.2M | $122.5M | ||
| Q1 25 | $18.8M | $98.2M | ||
| Q4 24 | $55.6M | $166.6M | ||
| Q3 24 | $25.1M | $218.1M | ||
| Q2 24 | $-18.5M | $184.3M | ||
| Q1 24 | $-26.3M | $7.5M |
自由现金流CRSRRHP
| Q4 25 | $32.9M | $58.5M | ||
| Q3 25 | $-41.3M | $135.4M | ||
| Q2 25 | $27.5M | $53.0M | ||
| Q1 25 | $15.7M | $-14.5M | ||
| Q4 24 | $54.1M | $76.0M | ||
| Q3 24 | $21.8M | $85.7M | ||
| Q2 24 | $-21.0M | $78.8M | ||
| Q1 24 | $-28.8M | $-72.0M |
自由现金流率CRSRRHP
| Q4 25 | 7.5% | 7.9% | ||
| Q3 25 | -12.0% | 22.9% | ||
| Q2 25 | 8.6% | 8.0% | ||
| Q1 25 | 4.2% | -2.5% | ||
| Q4 24 | 13.1% | 11.7% | ||
| Q3 24 | 7.2% | 15.6% | ||
| Q2 24 | -8.0% | 12.9% | ||
| Q1 24 | -8.6% | -13.6% |
资本支出强度CRSRRHP
| Q4 25 | 1.2% | 14.4% | ||
| Q3 25 | 1.3% | 11.8% | ||
| Q2 25 | 0.8% | 10.5% | ||
| Q1 25 | 0.8% | 19.2% | ||
| Q4 24 | 0.4% | 14.0% | ||
| Q3 24 | 1.1% | 24.1% | ||
| Q2 24 | 1.0% | 17.2% | ||
| Q1 24 | 0.7% | 15.0% |
现金转化率CRSRRHP
| Q4 25 | 1.48× | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | 24.30× | 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
CRSR
| Gamer And Creator Peripherals | $164.9M | 38% |
| Memory Products | $156.1M | 36% |
| Inventory Costs | $85.6M | 20% |
| Other Segment Items | $16.9M | 4% |
| Other | $13.3M | 3% |
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% |
