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Camping World Holdings, Inc.（CWH）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
Camping World Holdings, Inc.的季度营收约是Ryman Hospitality Properties, Inc.的1.6倍（$1.2B vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -9.3%，领先19.4%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs -2.6%），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs -7.2%）
露营世界控股公司是美国知名露营房车行业企业，总部位于伊利诺伊州林肯郡，主营休闲房车销售、房车配件供应及售后维保服务，同时也售卖各类露营装备。目前公司在全美共设有202家线下门店，除线下门店经营外，还通过电话等渠道开展零售业务，2016年10月完成首次公开募股上市，募资2.51亿美元。
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。
CWH vs RHP — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $737.8M |
| 净利润 | $-109.1M | $74.5M |
| 毛利率 | 28.8% | 41.4% |
| 营业利润率 | -4.3% | 19.4% |
| 净利率 | -9.3% | 10.1% |
| 营收同比 | -2.6% | 13.9% |
| 净利润同比 | -83.3% | 3.0% |
| 每股收益（稀释后） | — | $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
| Q4 25 | $1.2B | $737.8M | ||
| Q3 25 | $1.8B | $592.5M | ||
| Q2 25 | $2.0B | $659.5M | ||
| Q1 25 | $1.4B | $587.3M | ||
| Q4 24 | $1.2B | $647.6M | ||
| Q3 24 | $1.7B | $550.0M | ||
| Q2 24 | $1.8B | $613.3M | ||
| Q1 24 | $1.4B | $528.3M |
| Q4 25 | $-109.1M | $74.5M | ||
| Q3 25 | $-40.4M | $34.9M | ||
| Q2 25 | $30.2M | $71.8M | ||
| Q1 25 | $-12.3M | $63.0M | ||
| Q4 24 | $-59.5M | $72.3M | ||
| Q3 24 | $5.5M | $59.0M | ||
| Q2 24 | $9.8M | $100.8M | ||
| Q1 24 | $-22.3M | $42.8M |
| Q4 25 | 28.8% | 41.4% | ||
| Q3 25 | 28.6% | 40.9% | ||
| Q2 25 | 30.0% | 49.7% | ||
| Q1 25 | 30.4% | 44.4% | ||
| Q4 24 | 31.3% | 40.4% | ||
| Q3 24 | 28.9% | 43.1% | ||
| Q2 24 | 30.3% | 48.4% | ||
| Q1 24 | 29.5% | 41.5% |
| Q4 25 | -4.3% | 19.4% | ||
| Q3 25 | 4.4% | 15.0% | ||
| Q2 25 | 6.6% | 21.1% | ||
| Q1 25 | 1.5% | 19.8% | ||
| Q4 24 | -1.3% | 18.6% | ||
| Q3 24 | 3.7% | 19.3% | ||
| Q2 24 | 5.3% | 27.4% | ||
| Q1 24 | 0.3% | 18.2% |
| Q4 25 | -9.3% | 10.1% | ||
| Q3 25 | -2.2% | 5.9% | ||
| Q2 25 | 1.5% | 10.9% | ||
| Q1 25 | -0.9% | 10.7% | ||
| Q4 24 | -4.9% | 11.2% | ||
| Q3 24 | 0.3% | 10.7% | ||
| Q2 24 | 0.5% | 16.4% | ||
| Q1 24 | -1.6% | 8.1% |
| Q4 25 | — | $1.12 | ||
| Q3 25 | — | $0.53 | ||
| Q2 25 | — | $1.12 | ||
| Q1 25 | — | $1.00 | ||
| Q4 24 | — | $1.12 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | $1.65 | ||
| Q1 24 | — | $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 | $215.0M | $471.4M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $228.6M | $750.2M |
| 总资产 | $5.0B | $6.2B |
| 负债/权益比越低杠杆越低 | 6.44× | — |
8季度趋势，按日历期对齐
| Q4 25 | $215.0M | $471.4M | ||
| Q3 25 | $230.5M | $483.3M | ||
| Q2 25 | $118.1M | $420.6M | ||
| Q1 25 | $20.9M | $413.9M | ||
| Q4 24 | $208.4M | $477.7M | ||
| Q3 24 | $28.4M | $534.9M | ||
| Q2 24 | $23.7M | $498.4M | ||
| Q1 24 | $29.7M | $465.3M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.6B | — |
| Q4 25 | $228.6M | $750.2M | ||
| Q3 25 | $296.2M | $758.5M | ||
| Q2 25 | $340.5M | $800.4M | ||
| Q1 25 | $310.5M | $531.5M | ||
| Q4 24 | $326.6M | $549.0M | ||
| Q3 24 | $151.6M | $551.9M | ||
| Q2 24 | $149.7M | $562.6M | ||
| Q1 24 | $142.8M | $529.9M |
| Q4 25 | $5.0B | $6.2B | ||
| Q3 25 | $5.0B | $6.2B | ||
| Q2 25 | $5.2B | $6.1B | ||
| Q1 25 | $5.1B | $5.2B | ||
| Q4 24 | $4.9B | $5.2B | ||
| Q3 24 | $4.7B | $5.2B | ||
| Q2 24 | $5.0B | $5.1B | ||
| Q1 24 | $5.1B | $5.1B |
| Q4 25 | 6.44× | — | ||
| Q3 25 | 5.00× | — | ||
| Q2 25 | 4.42× | — | ||
| Q1 25 | 4.87× | — | ||
| Q4 24 | 4.64× | — | ||
| Q3 24 | 10.09× | — | ||
| Q2 24 | 10.28× | — | ||
| Q1 24 | 11.00× | — |
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 | $-227.2M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | — | $58.5M |
| 自由现金流率自由现金流/营收 | — | 7.9% |
| 资本支出强度资本支出/营收 | — | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | — | $232.4M |
8季度趋势，按日历期对齐
| Q4 25 | $-227.2M | $164.7M | ||
| Q3 25 | $139.8M | $205.2M | ||
| Q2 25 | $187.9M | $122.5M | ||
| Q1 25 | $-232.5M | $98.2M | ||
| Q4 24 | $-163.4M | $166.6M | ||
| Q3 24 | $324.2M | $218.1M | ||
| Q2 24 | $152.3M | $184.3M | ||
| Q1 24 | $-68.0M | $7.5M |
| Q4 25 | — | $58.5M | ||
| Q3 25 | — | $135.4M | ||
| Q2 25 | — | $53.0M | ||
| Q1 25 | — | $-14.5M | ||
| Q4 24 | — | $76.0M | ||
| Q3 24 | — | $85.7M | ||
| Q2 24 | — | $78.8M | ||
| Q1 24 | — | $-72.0M |
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | -2.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 12.9% | ||
| Q1 24 | — | -13.6% |
| Q4 25 | — | 14.4% | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | 19.2% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 24.1% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 15.0% |
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | 6.22× | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | 58.93× | 3.70× | ||
| Q2 24 | 15.59× | 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
CWH
| New Vehicles | $457.8M | 39% |
| Used Vehicles | $386.5M | 33% |
| Products Service And Other | $160.5M | 14% |
| Finance And Insurance Net | $111.4M | 9% |
| Good Sam Services And Plans | $48.0M | 4% |
| Good Sam Club | $10.5M | 1% |
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% |
