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雅诗兰黛（EL）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雅诗兰黛的1.0倍（$4.3B vs $4.2B），皇家加勒比集团净利率更高（17.7% vs 3.8%，领先13.8%），皇家加勒比集团同比增速更快（13.3% vs 5.6%），雅诗兰黛自由现金流更多（$1.0B vs $116.0M），过去两年皇家加勒比集团的营收复合增速更高（6.9% vs 3.6%）
雅诗兰黛是全球知名的高端美妆集团，由创始人雅诗·兰黛女士与丈夫约瑟夫·劳特共同创立。雅诗·兰黛女士也是唯一一位登上《时代》杂志1998年“20世纪20位最具影响力商业天才”榜单的女性，集团旗下拥有多个知名美妆、护肤、香氛品牌，业务覆盖全球众多国家和地区。
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。
EL vs RCL — 直观对比
营收规模更大
RCL
是对方的1.0倍
$4.2B
营收增速更快
RCL
高出7.7%
5.6%
净利率更高
RCL
高出13.8%
3.8%
自由现金流更多
EL
多$901.0M
$116.0M
两年增速更快
RCL
近两年复合增速
3.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.2B | $4.3B |
| 净利润 | $162.0M | $753.0M |
| 毛利率 | 76.5% | 47.4% |
| 营业利润率 | 9.5% | 21.9% |
| 净利率 | 3.8% | 17.7% |
| 营收同比 | 5.6% | 13.3% |
| 净利润同比 | 127.5% | 36.4% |
| 每股收益（稀释后） | $0.44 | $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ELRCL
| Q4 25 | $4.2B | $4.3B | ||
| Q3 25 | $3.5B | $5.1B | ||
| Q2 25 | $3.4B | $4.5B | ||
| Q1 25 | $3.5B | $4.0B | ||
| Q4 24 | $4.0B | $3.8B | ||
| Q3 24 | $3.4B | $4.9B | ||
| Q2 24 | $3.9B | $4.1B | ||
| Q1 24 | $3.9B | $3.7B |
净利润ELRCL
| Q4 25 | $162.0M | $753.0M | ||
| Q3 25 | $47.0M | $1.6B | ||
| Q2 25 | $-546.0M | $1.2B | ||
| Q1 25 | $159.0M | $730.0M | ||
| Q4 24 | $-590.0M | $552.0M | ||
| Q3 24 | $-156.0M | $1.1B | ||
| Q2 24 | $-286.0M | $854.0M | ||
| Q1 24 | $335.0M | $360.0M |
毛利率ELRCL
| Q4 25 | 76.5% | 47.4% | ||
| Q3 25 | 73.4% | 51.8% | ||
| Q2 25 | 72.0% | 49.7% | ||
| Q1 25 | 75.0% | 48.0% | ||
| Q4 24 | 76.1% | 45.4% | ||
| Q3 24 | 72.4% | 51.1% | ||
| Q2 24 | 71.8% | 47.6% | ||
| Q1 24 | 71.9% | 44.8% |
营业利润率ELRCL
| Q4 25 | 9.5% | 21.9% | ||
| Q3 25 | 4.9% | 33.1% | ||
| Q2 25 | -11.4% | 29.3% | ||
| Q1 25 | 8.6% | 23.6% | ||
| Q4 24 | -14.5% | 16.6% | ||
| Q3 24 | -3.6% | 33.4% | ||
| Q2 24 | -6.0% | 26.7% | ||
| Q1 24 | 13.5% | 20.1% |
净利率ELRCL
| Q4 25 | 3.8% | 17.7% | ||
| Q3 25 | 1.4% | 30.6% | ||
| Q2 25 | -16.0% | 26.7% | ||
| Q1 25 | 4.5% | 18.3% | ||
| Q4 24 | -14.7% | 14.7% | ||
| Q3 24 | -4.6% | 22.7% | ||
| Q2 24 | -7.4% | 20.8% | ||
| Q1 24 | 8.5% | 9.7% |
每股收益（稀释后）ELRCL
| Q4 25 | $0.44 | $2.76 | ||
| Q3 25 | $0.13 | $5.74 | ||
| Q2 25 | $-1.52 | $4.41 | ||
| Q1 25 | $0.44 | $2.70 | ||
| Q4 24 | $-1.64 | $2.27 | ||
| Q3 24 | $-0.43 | $4.21 | ||
| Q2 24 | $-0.79 | $3.11 | ||
| Q1 24 | $0.91 | $1.35 |
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 | — | $825.0M |
| 总债务越低越好 | $7.3B | $18.2B |
| 股东权益账面价值 | $4.0B | $10.0B |
| 总资产 | $19.6B | $41.6B |
| 负债/权益比越低杠杆越低 | 1.82× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资ELRCL
| Q4 25 | — | $825.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $735.0M | ||
| Q1 25 | — | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | — | $418.0M | ||
| Q2 24 | — | $391.0M | ||
| Q1 24 | — | $437.0M |
总债务ELRCL
| Q4 25 | $7.3B | $18.2B | ||
| Q3 25 | $7.3B | $17.2B | ||
| Q2 25 | $7.3B | $17.6B | ||
| Q1 25 | $7.3B | $18.0B | ||
| Q4 24 | $7.3B | $18.5B | ||
| Q3 24 | $7.3B | $19.0B | ||
| Q2 24 | $7.3B | $19.8B | ||
| Q1 24 | $7.3B | $18.9B |
股东权益ELRCL
| Q4 25 | $4.0B | $10.0B | ||
| Q3 25 | $3.9B | $10.1B | ||
| Q2 25 | $3.9B | $9.2B | ||
| Q1 25 | $4.3B | $8.0B | ||
| Q4 24 | $4.2B | $7.6B | ||
| Q3 24 | $5.1B | $7.0B | ||
| Q2 24 | $5.3B | $6.0B | ||
| Q1 24 | $5.7B | $5.2B |
总资产ELRCL
| Q4 25 | $19.6B | $41.6B | ||
| Q3 25 | $19.3B | $40.1B | ||
| Q2 25 | $19.9B | $38.5B | ||
| Q1 25 | $19.9B | $37.5B | ||
| Q4 24 | $19.8B | $37.1B | ||
| Q3 24 | $21.3B | $37.1B | ||
| Q2 24 | $21.7B | $37.0B | ||
| Q1 24 | $22.7B | $35.2B |
负债/权益比ELRCL
| Q4 25 | 1.82× | 1.81× | ||
| Q3 25 | 1.88× | 1.70× | ||
| Q2 25 | 1.89× | 1.92× | ||
| Q1 25 | 1.68× | 2.26× | ||
| Q4 24 | 1.75× | 2.44× | ||
| Q3 24 | 1.44× | 2.69× | ||
| Q2 24 | 1.37× | 3.29× | ||
| Q1 24 | 1.26× | 3.66× |
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 | $1.1B | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $116.0M |
| 自由现金流率自由现金流/营收 | 24.0% | 2.7% |
| 资本支出强度资本支出/营收 | 2.6% | 35.4% |
| 现金转化率经营现金流/净利润 | 6.94× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $1.1B | $1.2B |
8季度趋势，按日历期对齐
经营现金流ELRCL
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $-340.0M | $1.5B | ||
| Q2 25 | $601.0M | $1.7B | ||
| Q1 25 | $284.0M | $1.6B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $-670.0M | $897.0M | ||
| Q2 24 | $889.0M | $1.6B | ||
| Q1 24 | $534.0M | $1.3B |
自由现金流ELRCL
| Q4 25 | $1.0B | $116.0M | ||
| Q3 25 | $-436.0M | $-989.0M | ||
| Q2 25 | $394.0M | $910.0M | ||
| Q1 25 | $162.0M | $1.2B | ||
| Q4 24 | $925.0M | $915.0M | ||
| Q3 24 | $-811.0M | $563.0M | ||
| Q2 24 | $672.0M | $-567.0M | ||
| Q1 24 | $359.0M | $1.1B |
自由现金流率ELRCL
| Q4 25 | 24.0% | 2.7% | ||
| Q3 25 | -12.5% | -19.2% | ||
| Q2 25 | 11.6% | 20.1% | ||
| Q1 25 | 4.6% | 30.0% | ||
| Q4 24 | 23.1% | 24.3% | ||
| Q3 24 | -24.1% | 11.5% | ||
| Q2 24 | 17.4% | -13.8% | ||
| Q1 24 | 9.1% | 29.1% |
资本支出强度ELRCL
| Q4 25 | 2.6% | 35.4% | ||
| Q3 25 | 2.8% | 47.8% | ||
| Q2 25 | 6.1% | 18.4% | ||
| Q1 25 | 3.4% | 10.7% | ||
| Q4 24 | 3.3% | 14.7% | ||
| Q3 24 | 4.2% | 6.8% | ||
| Q2 24 | 5.6% | 52.1% | ||
| Q1 24 | 4.4% | 6.5% |
现金转化率ELRCL
| Q4 25 | 6.94× | 2.16× | ||
| Q3 25 | -7.23× | 0.93× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | 1.79× | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 1.84× | ||
| Q1 24 | 1.59× | 3.69× |
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
EL
| Skin Care | $2.1B | 49% |
| Makeup | $1.2B | 28% |
| Fragrance | $812.0M | 19% |
| Hair Care | $168.0M | 4% |
| Other | $31.0M | 1% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
