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达维塔（DVA）与万豪国际（MAR）财务数据对比。点击上方公司名可切换其他公司
万豪国际的季度营收约是达维塔的1.8倍（$6.7B vs $3.6B），万豪国际净利率更高（6.7% vs 6.5%，领先0.2%），达维塔同比增速更快（12.3% vs 4.1%），过去两年达维塔的营收复合增速更高（6.6% vs 5.8%）
达维塔是美国肾脏透析服务提供商，在美国运营2675家门诊中心，服务20.08万名患者；同时在其他11个国家布局367家门诊中心，服务4.94万名患者。公司主要服务终末期肾病患者，这类患者除非接受捐肾移植，否则通常需要终生每周接受三次透析治疗。
万豪国际是美国跨国酒店管理集团，主营业务为运营、特许经营及授权各类住宿品牌，覆盖酒店、住宅、分时度假等多元物业类型。集团旗下拥有37个以上酒店及时度假品牌，全球布局9000余处经营点位，客房总量超159万间，总部位于美国马里兰州贝塞斯达，脱胎于原万豪集团的酒店业务板块。
DVA vs MAR — 直观对比
营收规模更大
MAR
是对方的1.8倍
$3.6B
营收增速更快
DVA
高出8.2%
4.1%
净利率更高
MAR
高出0.2%
6.5%
两年增速更快
DVA
近两年复合增速
5.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $6.7B |
| 净利润 | $234.2M | $445.0M |
| 毛利率 | — | — |
| 营业利润率 | 15.5% | 11.6% |
| 净利率 | 6.5% | 6.7% |
| 营收同比 | 12.3% | 4.1% |
| 净利润同比 | 43.8% | -2.2% |
| 每股收益（稀释后） | $3.22 | $1.67 |
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DVAMAR
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | $6.7B | ||
| Q3 25 | $3.4B | $6.5B | ||
| Q2 25 | $3.4B | $6.7B | ||
| Q1 25 | $3.2B | $6.3B | ||
| Q4 24 | $3.3B | $6.4B | ||
| Q3 24 | $3.3B | $6.3B | ||
| Q2 24 | $3.2B | $6.4B |
净利润DVAMAR
| Q1 26 | $234.2M | — | ||
| Q4 25 | $234.2M | $445.0M | ||
| Q3 25 | $150.3M | $728.0M | ||
| Q2 25 | $199.3M | $763.0M | ||
| Q1 25 | $162.9M | $665.0M | ||
| Q4 24 | $259.3M | $455.0M | ||
| Q3 24 | $214.7M | $584.0M | ||
| Q2 24 | $222.7M | $772.0M |
营业利润率DVAMAR
| Q1 26 | 15.5% | — | ||
| Q4 25 | 15.5% | 11.6% | ||
| Q3 25 | 14.8% | 18.2% | ||
| Q2 25 | 15.9% | 18.3% | ||
| Q1 25 | 13.6% | 15.1% | ||
| Q4 24 | 17.2% | 11.7% | ||
| Q3 24 | 16.4% | 15.1% | ||
| Q2 24 | 15.9% | 18.6% |
净利率DVAMAR
| Q1 26 | 6.5% | — | ||
| Q4 25 | 6.5% | 6.7% | ||
| Q3 25 | 4.4% | 11.2% | ||
| Q2 25 | 5.9% | 11.3% | ||
| Q1 25 | 5.1% | 10.6% | ||
| Q4 24 | 7.9% | 7.1% | ||
| Q3 24 | 6.6% | 9.3% | ||
| Q2 24 | 7.0% | 12.0% |
每股收益（稀释后）DVAMAR
| Q1 26 | $3.22 | — | ||
| Q4 25 | $3.22 | $1.67 | ||
| Q3 25 | $2.04 | $2.67 | ||
| Q2 25 | $2.58 | $2.78 | ||
| Q1 25 | $2.00 | $2.39 | ||
| Q4 24 | $3.08 | $1.64 | ||
| Q3 24 | $2.50 | $2.07 | ||
| Q2 24 | $2.50 | $2.69 |
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 | $700.7M | $358.0M |
| 总债务越低越好 | $10.2B | $15.0B |
| 股东权益账面价值 | $-651.1M | $-3.8B |
| 总资产 | $17.5B | $27.5B |
| 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DVAMAR
| Q1 26 | $700.7M | — | ||
| Q4 25 | $700.7M | $358.0M | ||
| Q3 25 | $736.5M | $678.0M | ||
| Q2 25 | $739.4M | $671.0M | ||
| Q1 25 | $511.9M | $523.0M | ||
| Q4 24 | $846.0M | $396.0M | ||
| Q3 24 | $1.1B | $394.0M | ||
| Q2 24 | $437.2M | $349.0M |
总债务DVAMAR
| Q1 26 | $10.2B | — | ||
| Q4 25 | $10.2B | $15.0B | ||
| Q3 25 | $10.2B | $14.4B | ||
| Q2 25 | $10.1B | $14.5B | ||
| Q1 25 | $9.6B | $14.1B | ||
| Q4 24 | $9.2B | $13.1B | ||
| Q3 24 | $9.3B | $12.7B | ||
| Q2 24 | $8.5B | $12.2B |
股东权益DVAMAR
| Q1 26 | $-651.1M | — | ||
| Q4 25 | $-651.1M | $-3.8B | ||
| Q3 25 | $-571.9M | $-3.1B | ||
| Q2 25 | $-369.6M | $-3.0B | ||
| Q1 25 | $-267.1M | $-3.2B | ||
| Q4 24 | $121.1M | $-3.0B | ||
| Q3 24 | $386.7M | $-2.4B | ||
| Q2 24 | $632.9M | $-2.1B |
总资产DVAMAR
| Q1 26 | $17.5B | — | ||
| Q4 25 | $17.5B | $27.5B | ||
| Q3 25 | $17.6B | $27.8B | ||
| Q2 25 | $17.5B | $27.3B | ||
| Q1 25 | $17.1B | $26.7B | ||
| Q4 24 | $17.3B | $26.2B | ||
| Q3 24 | $17.5B | $26.2B | ||
| Q2 24 | $17.0B | $25.7B |
负债/权益比DVAMAR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 75.76× | — | ||
| Q3 24 | 23.95× | — | ||
| Q2 24 | 13.35× | — |
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 | — | $829.0M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 1.86× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DVAMAR
| Q1 26 | — | — | ||
| Q4 25 | $540.7M | $829.0M | ||
| Q3 25 | $841.5M | $1.1B | ||
| Q2 25 | $324.2M | $643.0M | ||
| Q1 25 | $180.0M | $647.0M | ||
| Q4 24 | $547.6M | $318.0M | ||
| Q3 24 | $810.4M | $880.0M | ||
| Q2 24 | $798.8M | $772.0M |
自由现金流DVAMAR
| Q1 26 | — | — | ||
| Q4 25 | $395.3M | — | ||
| Q3 25 | $675.4M | $951.0M | ||
| Q2 25 | $203.1M | $488.0M | ||
| Q1 25 | $36.8M | $512.0M | ||
| Q4 24 | $377.0M | $-24.0M | ||
| Q3 24 | $671.4M | $706.0M | ||
| Q2 24 | $674.1M | $647.0M |
自由现金流率DVAMAR
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | — | ||
| Q3 25 | 19.7% | 14.7% | ||
| Q2 25 | 6.0% | 7.2% | ||
| Q1 25 | 1.1% | 8.2% | ||
| Q4 24 | 11.4% | -0.4% | ||
| Q3 24 | 20.6% | 11.3% | ||
| Q2 24 | 21.2% | 10.0% |
资本支出强度DVAMAR
| Q1 26 | — | — | ||
| Q4 25 | 4.0% | — | ||
| Q3 25 | 4.9% | 2.2% | ||
| Q2 25 | 3.6% | 2.3% | ||
| Q1 25 | 4.4% | 2.2% | ||
| Q4 24 | 5.2% | 5.3% | ||
| Q3 24 | 4.3% | 2.8% | ||
| Q2 24 | 3.9% | 1.9% |
现金转化率DVAMAR
| Q1 26 | — | — | ||
| Q4 25 | 2.31× | 1.86× | ||
| Q3 25 | 5.60× | 1.50× | ||
| Q2 25 | 1.63× | 0.84× | ||
| Q1 25 | 1.10× | 0.97× | ||
| Q4 24 | 2.11× | 0.70× | ||
| Q3 24 | 3.77× | 1.51× | ||
| Q2 24 | 3.59× | 1.00× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
