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凯撒娱乐（CZR）与易贝（EBAY）财务数据对比。点击上方公司名可切换其他公司
易贝的季度营收约是凯撒娱乐的1.0倍（$3.0B vs $2.9B），易贝净利率更高（17.8% vs -2.9%，领先20.7%），易贝同比增速更快（15.0% vs 2.7%），过去两年易贝的营收复合增速更高（7.7% vs 0.7%）
凯撒娱乐前身为埃尔拉多度假村公司，是总部位于美国内华达州里诺的酒店博彩娱乐集团。2020年7月20日公司收购原凯撒娱乐集团后更为现名，目前运营超过50处物业，业务覆盖酒店、博彩、休闲娱乐等多个领域。
eBay是总部位于美国加利福尼亚州圣何塞的跨国电商企业，1995年9月由皮埃尔·奥米迪亚创立。其业务覆盖全球190个市场，旗下线上平台支持拍卖及“立即购买”两种销售模式，消费者可便捷选购各类商品，平台会在卖家完成交易后收取相应佣金。
CZR vs EBAY — 直观对比
营收规模更大
EBAY
是对方的1.0倍
$2.9B
营收增速更快
EBAY
高出12.2%
2.7%
净利率更高
EBAY
高出20.7%
-2.9%
两年增速更快
EBAY
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $3.0B |
| 净利润 | $-83.0M | $528.0M |
| 毛利率 | — | 71.4% |
| 营业利润率 | 17.4% | 20.3% |
| 净利率 | -2.9% | 17.8% |
| 营收同比 | 2.7% | 15.0% |
| 净利润同比 | 15.3% | -22.2% |
| 每股收益（稀释后） | $-0.48 | $1.14 |
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CZREBAY
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $3.0B | ||
| Q3 25 | $2.9B | $2.8B | ||
| Q2 25 | $2.9B | $2.7B | ||
| Q1 25 | $2.8B | $2.6B | ||
| Q4 24 | $2.8B | $2.6B | ||
| Q3 24 | $2.9B | $2.6B | ||
| Q2 24 | $2.8B | $2.6B |
净利润CZREBAY
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-250.0M | $528.0M | ||
| Q3 25 | $-55.0M | $632.0M | ||
| Q2 25 | $-82.0M | $368.0M | ||
| Q1 25 | $-115.0M | $503.0M | ||
| Q4 24 | $11.0M | $679.0M | ||
| Q3 24 | $-9.0M | $634.0M | ||
| Q2 24 | $-122.0M | $224.0M |
毛利率CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | — | 71.4% | ||
| Q3 25 | — | 70.9% | ||
| Q2 25 | — | 71.6% | ||
| Q1 25 | — | 72.0% | ||
| Q4 24 | — | 72.2% | ||
| Q3 24 | — | 71.8% | ||
| Q2 24 | — | 71.4% |
营业利润率CZREBAY
| Q1 26 | 17.4% | — | ||
| Q4 25 | 11.4% | 20.3% | ||
| Q3 25 | 17.9% | 20.4% | ||
| Q2 25 | 18.1% | 17.7% | ||
| Q1 25 | 17.5% | 23.8% | ||
| Q4 24 | 23.9% | 21.1% | ||
| Q3 24 | 22.4% | 23.1% | ||
| Q2 24 | 17.9% | 21.3% |
净利率CZREBAY
| Q1 26 | -2.9% | — | ||
| Q4 25 | -8.6% | 17.8% | ||
| Q3 25 | -1.9% | 22.4% | ||
| Q2 25 | -2.8% | 13.5% | ||
| Q1 25 | -4.1% | 19.5% | ||
| Q4 24 | 0.4% | 26.3% | ||
| Q3 24 | -0.3% | 24.6% | ||
| Q2 24 | -4.3% | 8.7% |
每股收益（稀释后）CZREBAY
| Q1 26 | $-0.48 | — | ||
| Q4 25 | $-1.22 | $1.14 | ||
| Q3 25 | $-0.27 | $1.35 | ||
| Q2 25 | $-0.39 | $0.79 | ||
| Q1 25 | $-0.54 | $1.06 | ||
| Q4 24 | $0.04 | $1.35 | ||
| Q3 24 | $-0.04 | $1.29 | ||
| Q2 24 | $-0.56 | $0.45 |
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 | $867.0M | $1.9B |
| 总债务越低越好 | — | $6.0B |
| 股东权益账面价值 | — | $4.6B |
| 总资产 | — | $17.6B |
| 负债/权益比越低杠杆越低 | — | 1.30× |
8季度趋势，按日历期对齐
现金及短期投资CZREBAY
| Q1 26 | $867.0M | — | ||
| Q4 25 | $887.0M | $1.9B | ||
| Q3 25 | $836.0M | $2.4B | ||
| Q2 25 | $982.0M | $2.1B | ||
| Q1 25 | $884.0M | $3.1B | ||
| Q4 24 | $866.0M | $2.4B | ||
| Q3 24 | $802.0M | $1.6B | ||
| Q2 24 | $830.0M | $2.0B |
总债务CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | $11.9B | $6.0B | ||
| Q3 25 | $11.9B | $5.0B | ||
| Q2 25 | $12.3B | $5.0B | ||
| Q1 25 | $12.3B | $5.8B | ||
| Q4 24 | $12.3B | $5.8B | ||
| Q3 24 | $12.7B | $6.2B | ||
| Q2 24 | $12.4B | $6.2B |
股东权益CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $4.6B | ||
| Q3 25 | $3.8B | $4.7B | ||
| Q2 25 | $3.9B | $4.7B | ||
| Q1 25 | $4.1B | $5.0B | ||
| Q4 24 | $4.2B | $5.2B | ||
| Q3 24 | $4.2B | $5.4B | ||
| Q2 24 | $4.3B | $5.5B |
总资产CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | $31.6B | $17.6B | ||
| Q3 25 | $31.9B | $17.8B | ||
| Q2 25 | $32.5B | $18.0B | ||
| Q1 25 | $32.4B | $19.0B | ||
| Q4 24 | $32.6B | $19.4B | ||
| Q3 24 | $33.0B | $19.9B | ||
| Q2 24 | $33.1B | $20.4B |
负债/权益比CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | 3.40× | 1.30× | ||
| Q3 25 | 3.15× | 1.06× | ||
| Q2 25 | 3.15× | 1.05× | ||
| Q1 25 | 3.04× | 1.16× | ||
| Q4 24 | 2.96× | 1.12× | ||
| Q3 24 | 3.04× | 1.14× | ||
| Q2 24 | 2.89× | 1.12× |
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 | — | $595.0M |
| 自由现金流经营现金流 - 资本支出 | — | $478.0M |
| 自由现金流率自由现金流/营收 | — | 16.1% |
| 资本支出强度资本支出/营收 | — | 3.9% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | — | $1.5B |
8季度趋势，按日历期对齐
经营现金流CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | $304.0M | $595.0M | ||
| Q3 25 | $318.0M | $934.0M | ||
| Q2 25 | $462.0M | $-307.0M | ||
| Q1 25 | $218.0M | $787.0M | ||
| Q4 24 | $309.0M | $677.0M | ||
| Q3 24 | $232.0M | $755.0M | ||
| Q2 24 | $454.0M | $367.0M |
自由现金流CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | $147.0M | $478.0M | ||
| Q3 25 | $123.0M | $803.0M | ||
| Q2 25 | $232.0M | $-441.0M | ||
| Q1 25 | $-5.0M | $644.0M | ||
| Q4 24 | $30.0M | $560.0M | ||
| Q3 24 | $-192.0M | $646.0M | ||
| Q2 24 | $125.0M | $278.0M |
自由现金流率CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | 5.0% | 16.1% | ||
| Q3 25 | 4.3% | 28.5% | ||
| Q2 25 | 8.0% | -16.2% | ||
| Q1 25 | -0.2% | 24.9% | ||
| Q4 24 | 1.1% | 21.7% | ||
| Q3 24 | -6.7% | 25.1% | ||
| Q2 24 | 4.4% | 10.8% |
资本支出强度CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | 5.4% | 3.9% | ||
| Q3 25 | 6.8% | 4.6% | ||
| Q2 25 | 7.9% | 4.9% | ||
| Q1 25 | 8.0% | 5.5% | ||
| Q4 24 | 10.0% | 4.5% | ||
| Q3 24 | 14.8% | 4.2% | ||
| Q2 24 | 11.6% | 3.5% |
现金转化率CZREBAY
| Q1 26 | — | — | ||
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.48× | ||
| Q2 25 | — | -0.83× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | 28.09× | 1.00× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | 1.64× |
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
CZR
| Casino | $1.7B | 58% |
| Hotel | $487.0M | 17% |
| Food and beverage | $424.0M | 15% |
| Other | $293.0M | 10% |
EBAY
| Marketplace Revenues | $2.4B | 82% |
| Advertising Revenues | $544.0M | 18% |
