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礼蓝动物保健（ELAN）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
礼蓝动物保健的季度营收约是Ryman Hospitality Properties, Inc.的1.6倍（$1.1B vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -24.1%，领先34.2%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 12.2%），Ryman Hospitality Properties, Inc.自由现金流更多（$58.5M vs $46.0M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs -2.6%）
礼蓝动物保健是一家美国动物保健制药企业，专注于生产宠物及家畜用药品与疫苗。该公司原为礼来公司旗下子公司，2019年完成分拆独立，目前是全球第三大动物保健企业。
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。
ELAN vs RHP — 直观对比
营收规模更大
ELAN
是对方的1.6倍
$737.8M
营收增速更快
RHP
高出1.8%
12.2%
净利率更高
RHP
高出34.2%
-24.1%
自由现金流更多
RHP
多$12.5M
$46.0M
两年增速更快
RHP
近两年复合增速
-2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $737.8M |
| 净利润 | $-276.0M | $74.5M |
| 毛利率 | 51.5% | 41.4% |
| 营业利润率 | -22.6% | 19.4% |
| 净利率 | -24.1% | 10.1% |
| 营收同比 | 12.2% | 13.9% |
| 净利润同比 | -3350.0% | 3.0% |
| 每股收益（稀释后） | $-0.55 | $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
营收ELANRHP
| Q4 25 | $1.1B | $737.8M | ||
| Q3 25 | $1.1B | $592.5M | ||
| Q2 25 | $1.2B | $659.5M | ||
| Q1 25 | $1.2B | $587.3M | ||
| Q4 24 | $1.0B | $647.6M | ||
| Q3 24 | $1.0B | $550.0M | ||
| Q2 24 | $1.2B | $613.3M | ||
| Q1 24 | $1.2B | $528.3M |
净利润ELANRHP
| Q4 25 | $-276.0M | $74.5M | ||
| Q3 25 | $-34.0M | $34.9M | ||
| Q2 25 | $11.0M | $71.8M | ||
| Q1 25 | $67.0M | $63.0M | ||
| Q4 24 | $-8.0M | $72.3M | ||
| Q3 24 | $364.0M | $59.0M | ||
| Q2 24 | $-50.0M | $100.8M | ||
| Q1 24 | $32.0M | $42.8M |
毛利率ELANRHP
| Q4 25 | 51.5% | 41.4% | ||
| Q3 25 | 53.4% | 40.9% | ||
| Q2 25 | 57.5% | 49.7% | ||
| Q1 25 | 57.3% | 44.4% | ||
| Q4 24 | 50.9% | 40.4% | ||
| Q3 24 | 52.2% | 43.1% | ||
| Q2 24 | 58.2% | 48.4% | ||
| Q1 24 | 57.3% | 41.5% |
营业利润率ELANRHP
| Q4 25 | -22.6% | 19.4% | ||
| Q3 25 | -4.4% | 15.0% | ||
| Q2 25 | 2.0% | 21.1% | ||
| Q1 25 | 5.0% | 19.8% | ||
| Q4 24 | -5.0% | 18.6% | ||
| Q3 24 | 54.3% | 19.3% | ||
| Q2 24 | -2.7% | 27.4% | ||
| Q1 24 | 1.0% | 18.2% |
净利率ELANRHP
| Q4 25 | -24.1% | 10.1% | ||
| Q3 25 | -3.0% | 5.9% | ||
| Q2 25 | 0.9% | 10.9% | ||
| Q1 25 | 5.6% | 10.7% | ||
| Q4 24 | -0.8% | 11.2% | ||
| Q3 24 | 35.3% | 10.7% | ||
| Q2 24 | -4.2% | 16.4% | ||
| Q1 24 | 2.7% | 8.1% |
每股收益（稀释后）ELANRHP
| Q4 25 | $-0.55 | $1.12 | ||
| Q3 25 | $-0.07 | $0.53 | ||
| Q2 25 | $0.02 | $1.12 | ||
| Q1 25 | $0.13 | $1.00 | ||
| Q4 24 | $-0.01 | $1.12 | ||
| Q3 24 | $0.73 | $0.94 | ||
| Q2 24 | $-0.10 | $1.65 | ||
| Q1 24 | $0.06 | $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 | $545.0M | $471.4M |
| 总债务越低越好 | $3.9B | — |
| 股东权益账面价值 | $6.5B | $750.2M |
| 总资产 | $13.4B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资ELANRHP
| Q4 25 | $545.0M | $471.4M | ||
| Q3 25 | $505.0M | $483.3M | ||
| Q2 25 | $539.0M | $420.6M | ||
| Q1 25 | $487.0M | $413.9M | ||
| Q4 24 | $468.0M | $477.7M | ||
| Q3 24 | $490.0M | $534.9M | ||
| Q2 24 | $416.0M | $498.4M | ||
| Q1 24 | $345.0M | $465.3M |
总债务ELANRHP
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.8B | — |
股东权益ELANRHP
| Q4 25 | $6.5B | $750.2M | ||
| Q3 25 | $6.7B | $758.5M | ||
| Q2 25 | $6.8B | $800.4M | ||
| Q1 25 | $6.4B | $531.5M | ||
| Q4 24 | $6.1B | $549.0M | ||
| Q3 24 | $6.5B | $551.9M | ||
| Q2 24 | $5.9B | $562.6M | ||
| Q1 24 | $6.1B | $529.9M |
总资产ELANRHP
| Q4 25 | $13.4B | $6.2B | ||
| Q3 25 | $13.6B | $6.2B | ||
| Q2 25 | $13.7B | $6.1B | ||
| Q1 25 | $12.9B | $5.2B | ||
| Q4 24 | $12.6B | $5.2B | ||
| Q3 24 | $13.3B | $5.2B | ||
| Q2 24 | $13.8B | $5.1B | ||
| Q1 24 | $14.0B | $5.1B |
负债/权益比ELANRHP
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.95× | — |
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 | $108.0M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $46.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 4.0% | 7.9% |
| 资本支出强度资本支出/营收 | 5.4% | 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 | $284.0M | $232.4M |
8季度趋势，按日历期对齐
经营现金流ELANRHP
| Q4 25 | $108.0M | $164.7M | ||
| Q3 25 | $219.0M | $205.2M | ||
| Q2 25 | $237.0M | $122.5M | ||
| Q1 25 | $-4.0M | $98.2M | ||
| Q4 24 | $177.0M | $166.6M | ||
| Q3 24 | $162.0M | $218.1M | ||
| Q2 24 | $200.0M | $184.3M | ||
| Q1 24 | $2.0M | $7.5M |
自由现金流ELANRHP
| Q4 25 | $46.0M | $58.5M | ||
| Q3 25 | $127.0M | $135.4M | ||
| Q2 25 | $180.0M | $53.0M | ||
| Q1 25 | $-69.0M | $-14.5M | ||
| Q4 24 | $130.0M | $76.0M | ||
| Q3 24 | $120.0M | $85.7M | ||
| Q2 24 | $166.0M | $78.8M | ||
| Q1 24 | $-22.0M | $-72.0M |
自由现金流率ELANRHP
| Q4 25 | 4.0% | 7.9% | ||
| Q3 25 | 11.2% | 22.9% | ||
| Q2 25 | 14.5% | 8.0% | ||
| Q1 25 | -5.8% | -2.5% | ||
| Q4 24 | 12.7% | 11.7% | ||
| Q3 24 | 11.7% | 15.6% | ||
| Q2 24 | 14.0% | 12.9% | ||
| Q1 24 | -1.8% | -13.6% |
资本支出强度ELANRHP
| Q4 25 | 5.4% | 14.4% | ||
| Q3 25 | 8.1% | 11.8% | ||
| Q2 25 | 4.6% | 10.5% | ||
| Q1 25 | 5.4% | 19.2% | ||
| Q4 24 | 4.6% | 14.0% | ||
| Q3 24 | 4.1% | 24.1% | ||
| Q2 24 | 2.9% | 17.2% | ||
| Q1 24 | 2.0% | 15.0% |
现金转化率ELANRHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | 21.55× | 1.71× | ||
| Q1 25 | -0.06× | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | 0.45× | 3.70× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | 0.06× | 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
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 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% |
