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戴德梁行（CWK）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是戴德梁行的1.5倍（$4.3B vs $2.9B），皇家加勒比集团净利率更高（17.9% vs -0.8%，领先18.7%），皇家加勒比集团同比增速更快（13.2% vs 10.8%），过去两年戴德梁行的营收复合增速更高（15.5% vs 1.8%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
CWK vs RCL — 直观对比
营收规模更大
RCL
是对方的1.5倍
$2.9B
营收增速更快
RCL
高出2.4%
10.8%
净利率更高
RCL
高出18.7%
-0.8%
两年增速更快
CWK
近两年复合增速
1.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $4.3B |
| 净利润 | $-22.4M | $762.0M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | 21.9% |
| 净利率 | -0.8% | 17.9% |
| 营收同比 | 10.8% | 13.2% |
| 净利润同比 | -119.8% | 36.3% |
| 每股收益（稀释后） | $-0.10 | $2.76 |
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CWKRCL
| Q1 26 | — | $4.3B | ||
| Q4 25 | $2.9B | $4.3B | ||
| Q3 25 | $2.6B | $5.1B | ||
| Q2 25 | $2.5B | $4.5B | ||
| Q1 25 | $2.3B | $4.0B | ||
| Q4 24 | $2.6B | $3.8B | ||
| Q3 24 | $2.3B | $4.9B | ||
| Q2 24 | $2.3B | $4.1B |
净利润CWKRCL
| Q1 26 | — | $762.0M | ||
| Q4 25 | $-22.4M | $753.0M | ||
| Q3 25 | $51.4M | $1.6B | ||
| Q2 25 | $57.3M | $1.2B | ||
| Q1 25 | $1.9M | $730.0M | ||
| Q4 24 | $112.9M | $552.0M | ||
| Q3 24 | $33.7M | $1.1B | ||
| Q2 24 | $13.5M | $854.0M |
毛利率CWKRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率CWKRCL
| Q1 26 | — | 21.9% | ||
| Q4 25 | 6.1% | 21.9% | ||
| Q3 25 | 4.1% | 33.1% | ||
| Q2 25 | 4.9% | 29.3% | ||
| Q1 25 | 2.0% | 23.6% | ||
| Q4 24 | 6.6% | 16.6% | ||
| Q3 24 | 3.2% | 33.4% | ||
| Q2 24 | 3.1% | 26.7% |
净利率CWKRCL
| Q1 26 | — | 17.9% | ||
| Q4 25 | -0.8% | 17.7% | ||
| Q3 25 | 2.0% | 30.6% | ||
| Q2 25 | 2.3% | 26.7% | ||
| Q1 25 | 0.1% | 18.3% | ||
| Q4 24 | 4.3% | 14.7% | ||
| Q3 24 | 1.4% | 22.7% | ||
| Q2 24 | 0.6% | 20.8% |
每股收益（稀释后）CWKRCL
| Q1 26 | — | $2.76 | ||
| Q4 25 | $-0.10 | $2.76 | ||
| Q3 25 | $0.22 | $5.74 | ||
| Q2 25 | $0.25 | $4.41 | ||
| Q1 25 | $0.01 | $2.70 | ||
| Q4 24 | $0.49 | $2.27 | ||
| Q3 24 | $0.14 | $4.21 | ||
| Q2 24 | $0.06 | $3.11 |
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 | $784.2M | $825.0M |
| 总债务越低越好 | $2.7B | $21.3B |
| 股东权益账面价值 | $2.0B | $10.2B |
| 总资产 | $7.7B | $41.6B |
| 负债/权益比越低杠杆越低 | 1.40× | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资CWKRCL
| Q1 26 | — | $825.0M | ||
| Q4 25 | $784.2M | $825.0M | ||
| Q3 25 | $634.4M | $432.0M | ||
| Q2 25 | $618.2M | $735.0M | ||
| Q1 25 | $623.2M | $386.0M | ||
| Q4 24 | $793.3M | $388.0M | ||
| Q3 24 | $775.4M | $418.0M | ||
| Q2 24 | $567.3M | $391.0M |
总债务CWKRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | $2.7B | $18.2B | ||
| Q3 25 | $2.8B | $17.2B | ||
| Q2 25 | $3.0B | $17.6B | ||
| Q1 25 | $3.0B | $18.0B | ||
| Q4 24 | $3.0B | $18.5B | ||
| Q3 24 | $3.1B | $19.0B | ||
| Q2 24 | $3.1B | $19.8B |
股东权益CWKRCL
| Q1 26 | — | $10.2B | ||
| Q4 25 | $2.0B | $10.0B | ||
| Q3 25 | $2.0B | $10.1B | ||
| Q2 25 | $1.9B | $9.2B | ||
| Q1 25 | $1.8B | $8.0B | ||
| Q4 24 | $1.8B | $7.6B | ||
| Q3 24 | $1.7B | $7.0B | ||
| Q2 24 | $1.6B | $6.0B |
总资产CWKRCL
| Q1 26 | — | $41.6B | ||
| Q4 25 | $7.7B | $41.6B | ||
| Q3 25 | $7.7B | $40.1B | ||
| Q2 25 | $7.6B | $38.5B | ||
| Q1 25 | $7.4B | $37.5B | ||
| Q4 24 | $7.5B | $37.1B | ||
| Q3 24 | $7.5B | $37.1B | ||
| Q2 24 | $7.3B | $37.0B |
负债/权益比CWKRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | 1.40× | 1.81× | ||
| Q3 25 | 1.45× | 1.70× | ||
| Q2 25 | 1.57× | 1.92× | ||
| Q1 25 | 1.70× | 2.26× | ||
| Q4 24 | 1.73× | 2.44× | ||
| Q3 24 | 1.81× | 2.69× | ||
| Q2 24 | 1.91× | 3.29× |
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 | $257.3M | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $234.3M | — |
| 自由现金流率自由现金流/营收 | 8.0% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | — | 8.48× |
| 过去12个月自由现金流最近4个季度 | $293.0M | — |
8季度趋势，按日历期对齐
经营现金流CWKRCL
| Q1 26 | — | $6.5B | ||
| Q4 25 | $257.3M | $1.6B | ||
| Q3 25 | $235.5M | $1.5B | ||
| Q2 25 | $9.6M | $1.7B | ||
| Q1 25 | $-162.0M | $1.6B | ||
| Q4 24 | $115.2M | $1.5B | ||
| Q3 24 | $196.1M | $897.0M | ||
| Q2 24 | $21.8M | $1.6B |
自由现金流CWKRCL
| Q1 26 | — | — | ||
| Q4 25 | $234.3M | $116.0M | ||
| Q3 25 | $225.0M | $-989.0M | ||
| Q2 25 | $300.0K | $910.0M | ||
| Q1 25 | $-166.6M | $1.2B | ||
| Q4 24 | $105.9M | $915.0M | ||
| Q3 24 | $186.7M | $563.0M | ||
| Q2 24 | $10.0M | $-567.0M |
自由现金流率CWKRCL
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | 2.7% | ||
| Q3 25 | 8.6% | -19.2% | ||
| Q2 25 | 0.0% | 20.1% | ||
| Q1 25 | -7.3% | 30.0% | ||
| Q4 24 | 4.0% | 24.3% | ||
| Q3 24 | 8.0% | 11.5% | ||
| Q2 24 | 0.4% | -13.8% |
资本支出强度CWKRCL
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 35.4% | ||
| Q3 25 | 0.4% | 47.8% | ||
| Q2 25 | 0.4% | 18.4% | ||
| Q1 25 | 0.2% | 10.7% | ||
| Q4 24 | 0.4% | 14.7% | ||
| Q3 24 | 0.4% | 6.8% | ||
| Q2 24 | 0.5% | 52.1% |
现金转化率CWKRCL
| Q1 26 | — | 8.48× | ||
| Q4 25 | — | 2.16× | ||
| Q3 25 | 4.58× | 0.93× | ||
| Q2 25 | 0.17× | 1.44× | ||
| Q1 25 | -85.26× | 2.23× | ||
| Q4 24 | 1.02× | 2.66× | ||
| Q3 24 | 5.82× | 0.81× | ||
| Q2 24 | 1.61× | 1.84× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
RCL
暂无分部数据
