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Equitable Holdings, Inc.（EQH）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Equitable Holdings, Inc.的1.3倍（$4.3B vs $3.3B），皇家加勒比集团净利率更高（17.7% vs 6.6%，领先11.1%），皇家加勒比集团同比增速更快（13.3% vs -9.5%），过去两年Equitable Holdings, Inc.的营收复合增速更高（21.2% vs 6.9%）
Equitable Holdings, Inc.是美国领先的金融服务与保险企业，1859年由亨利·鲍德温·海德创立，业务覆盖保险、财富管理等多元金融领域，拥有逾百年发展历史，在全球金融服务市场具备深厚的行业积淀与广泛的客户基础。
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。
EQH vs RCL — 直观对比
营收规模更大
RCL
是对方的1.3倍
$3.3B
营收增速更快
RCL
高出22.8%
-9.5%
净利率更高
RCL
高出11.1%
6.6%
两年增速更快
EQH
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $4.3B |
| 净利润 | $215.0M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 10.5% | 21.9% |
| 净利率 | 6.6% | 17.7% |
| 营收同比 | -9.5% | 13.3% |
| 净利润同比 | -76.1% | 36.4% |
| 每股收益（稀释后） | $0.69 | $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EQHRCL
| Q4 25 | $3.3B | $4.3B | ||
| Q3 25 | $1.4B | $5.1B | ||
| Q2 25 | $2.4B | $4.5B | ||
| Q1 25 | $4.6B | $4.0B | ||
| Q4 24 | $3.6B | $3.8B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $3.5B | $4.1B | ||
| Q1 24 | $2.2B | $3.7B |
净利润EQHRCL
| Q4 25 | $215.0M | $753.0M | ||
| Q3 25 | $-1.3B | $1.6B | ||
| Q2 25 | $-349.0M | $1.2B | ||
| Q1 25 | $63.0M | $730.0M | ||
| Q4 24 | $899.0M | $552.0M | ||
| Q3 24 | $-134.0M | $1.1B | ||
| Q2 24 | $428.0M | $854.0M | ||
| Q1 24 | $114.0M | $360.0M |
毛利率EQHRCL
| 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% | ||
| Q1 24 | — | 44.8% |
营业利润率EQHRCL
| Q4 25 | 10.5% | 21.9% | ||
| Q3 25 | -93.0% | 33.1% | ||
| Q2 25 | -15.4% | 29.3% | ||
| Q1 25 | 3.8% | 23.6% | ||
| Q4 24 | 33.1% | 16.6% | ||
| Q3 24 | -0.5% | 33.4% | ||
| Q2 24 | 19.4% | 26.7% | ||
| Q1 24 | 11.1% | 20.1% |
净利率EQHRCL
| Q4 25 | 6.6% | 17.7% | ||
| Q3 25 | -90.3% | 30.6% | ||
| Q2 25 | -14.8% | 26.7% | ||
| Q1 25 | 1.4% | 18.3% | ||
| Q4 24 | 24.8% | 14.7% | ||
| Q3 24 | -4.4% | 22.7% | ||
| Q2 24 | 12.2% | 20.8% | ||
| Q1 24 | 5.1% | 9.7% |
每股收益（稀释后）EQHRCL
| Q4 25 | $0.69 | $2.76 | ||
| Q3 25 | $-4.47 | $5.74 | ||
| Q2 25 | $-1.21 | $4.41 | ||
| Q1 25 | $0.16 | $2.70 | ||
| Q4 24 | $2.72 | $2.27 | ||
| Q3 24 | $-0.47 | $4.21 | ||
| Q2 24 | $1.23 | $3.11 | ||
| Q1 24 | $0.30 | $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 | $12.5B | $825.0M |
| 总债务越低越好 | — | $18.2B |
| 股东权益账面价值 | $-74.0M | $10.0B |
| 总资产 | $318.0B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资EQHRCL
| Q4 25 | $12.5B | $825.0M | ||
| Q3 25 | $13.6B | $432.0M | ||
| Q2 25 | $15.0B | $735.0M | ||
| Q1 25 | $8.2B | $386.0M | ||
| Q4 24 | $7.0B | $388.0M | ||
| Q3 24 | $9.6B | $418.0M | ||
| Q2 24 | $9.7B | $391.0M | ||
| Q1 24 | $10.4B | $437.0M |
总债务EQHRCL
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
股东权益EQHRCL
| Q4 25 | $-74.0M | $10.0B | ||
| Q3 25 | $148.0M | $10.1B | ||
| Q2 25 | $1.1B | $9.2B | ||
| Q1 25 | $2.4B | $8.0B | ||
| Q4 24 | $1.6B | $7.6B | ||
| Q3 24 | $3.2B | $7.0B | ||
| Q2 24 | $1.6B | $6.0B | ||
| Q1 24 | $2.0B | $5.2B |
总资产EQHRCL
| Q4 25 | $318.0B | $41.6B | ||
| Q3 25 | $314.4B | $40.1B | ||
| Q2 25 | $303.1B | $38.5B | ||
| Q1 25 | $287.4B | $37.5B | ||
| Q4 24 | $295.9B | $37.1B | ||
| Q3 24 | $299.0B | $37.1B | ||
| Q2 24 | $287.8B | $37.0B | ||
| Q1 24 | $285.6B | $35.2B |
负债/权益比EQHRCL
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 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 | $-154.0M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | — | $116.0M |
| 自由现金流率自由现金流/营收 | — | 2.7% |
| 资本支出强度资本支出/营收 | — | 35.4% |
| 现金转化率经营现金流/净利润 | -0.72× | 2.16× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流EQHRCL
| Q4 25 | $-154.0M | $1.6B | ||
| Q3 25 | $369.0M | $1.5B | ||
| Q2 25 | $341.0M | $1.7B | ||
| Q1 25 | $158.0M | $1.6B | ||
| Q4 24 | $400.0M | $1.5B | ||
| Q3 24 | $683.0M | $897.0M | ||
| Q2 24 | $892.0M | $1.6B | ||
| Q1 24 | $31.0M | $1.3B |
自由现金流EQHRCL
| Q4 25 | — | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M | ||
| Q1 24 | — | $1.1B |
自由现金流率EQHRCL
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | — | 29.1% |
资本支出强度EQHRCL
| Q4 25 | — | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% | ||
| Q1 24 | — | 6.5% |
现金转化率EQHRCL
| Q4 25 | -0.72× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | 2.51× | 2.23× | ||
| Q4 24 | 0.44× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 2.08× | 1.84× | ||
| Q1 24 | 0.27× | 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
EQH
| Other | $1.5B | 46% |
| Asset Management | $1.2B | 37% |
| Wealth Management | $545.0M | 17% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
