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亿客行集团（EXPE）与韦莱韬悦（WTW）财务数据对比。点击上方公司名可切换其他公司
亿客行集团的季度营收约是韦莱韬悦的1.2倍（$3.5B vs $2.9B），韦莱韬悦净利率更高（25.5% vs 5.8%，领先19.7%），亿客行集团同比增速更快（18.7% vs -3.5%），过去两年韦莱韬悦的营收复合增速更高（12.0% vs -0.2%）
亿客行集团是总部位于美国西雅图的在线旅游服务商，旗下旅行预订平台Expedia于1996年由微软推出。用户可通过其官方网站及移动应用预订机票、酒店、租车、邮轮、特色活动及度假短租等产品，为全球消费者提供便捷的一站式旅行服务解决方案。
韦莱韬悦是一家英美联营的跨国咨询、经纪及解决方案服务商，业务覆盖商业保险经纪与风险咨询、员工福利与薪酬咨询、退休与精算服务，同时可为养老基金、机构投资者提供专业投资建议，服务网络覆盖全球多个市场。
EXPE vs WTW — 直观对比
营收规模更大
EXPE
是对方的1.2倍
$2.9B
营收增速更快
EXPE
高出22.3%
-3.5%
净利率更高
WTW
高出19.7%
5.8%
两年增速更快
WTW
近两年复合增速
-0.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $2.9B |
| 净利润 | $205.0M | $735.0M |
| 毛利率 | — | — |
| 营业利润率 | 11.8% | 35.3% |
| 净利率 | 5.8% | 25.5% |
| 营收同比 | 18.7% | -3.5% |
| 净利润同比 | 202.5% | -41.0% |
| 每股收益（稀释后） | $1.56 | $7.50 |
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EXPEWTW
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $2.9B | ||
| Q3 25 | $4.4B | $2.2B | ||
| Q2 25 | $3.8B | $2.2B | ||
| Q1 25 | $3.0B | $2.2B | ||
| Q4 24 | $3.2B | $3.0B | ||
| Q3 24 | $4.1B | $2.2B | ||
| Q2 24 | $3.6B | $2.2B |
净利润EXPEWTW
| Q1 26 | $205.0M | — | ||
| Q4 25 | $205.0M | $735.0M | ||
| Q3 25 | $959.0M | $304.0M | ||
| Q2 25 | $330.0M | $331.0M | ||
| Q1 25 | $-200.0M | $235.0M | ||
| Q4 24 | $299.0M | $1.2B | ||
| Q3 24 | $684.0M | $-1.7B | ||
| Q2 24 | $386.0M | $141.0M |
营业利润率EXPEWTW
| Q1 26 | 11.8% | — | ||
| Q4 25 | 11.8% | 35.3% | ||
| Q3 25 | 23.5% | 18.7% | ||
| Q2 25 | 12.8% | 16.6% | ||
| Q1 25 | -2.3% | 19.8% | ||
| Q4 24 | 6.8% | 30.2% | ||
| Q3 24 | 18.8% | -34.2% | ||
| Q2 24 | 12.7% | 9.6% |
净利率EXPEWTW
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.8% | 25.5% | ||
| Q3 25 | 21.7% | 13.6% | ||
| Q2 25 | 8.7% | 14.9% | ||
| Q1 25 | -6.7% | 10.8% | ||
| Q4 24 | 9.4% | 41.7% | ||
| Q3 24 | 16.8% | -74.8% | ||
| Q2 24 | 10.8% | 6.4% |
每股收益（稀释后）EXPEWTW
| Q1 26 | $1.56 | — | ||
| Q4 25 | $1.56 | $7.50 | ||
| Q3 25 | $7.33 | $3.11 | ||
| Q2 25 | $2.48 | $3.32 | ||
| Q1 25 | $-1.56 | $2.33 | ||
| Q4 24 | $2.10 | $12.29 | ||
| Q3 24 | $5.04 | $-16.44 | ||
| Q2 24 | $2.80 | $1.36 |
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 | $5.7B | $3.2B |
| 总债务越低越好 | $6.2B | $9.7B |
| 股东权益账面价值 | $1.3B | $8.0B |
| 总资产 | $24.5B | $29.5B |
| 负债/权益比越低杠杆越低 | 4.80× | 1.21× |
8季度趋势，按日历期对齐
现金及短期投资EXPEWTW
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.7B | $3.2B | ||
| Q3 25 | $6.2B | $1.9B | ||
| Q2 25 | $6.7B | $2.0B | ||
| Q1 25 | $6.1B | $1.5B | ||
| Q4 24 | $4.5B | $1.9B | ||
| Q3 24 | $4.9B | $1.4B | ||
| Q2 24 | $6.3B | $1.2B |
总债务EXPEWTW
| Q1 26 | $6.2B | — | ||
| Q4 25 | $6.2B | $9.7B | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $6.2B | — | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $6.3B | $8.6B | ||
| Q3 24 | $6.3B | — | ||
| Q2 24 | $6.3B | — |
股东权益EXPEWTW
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $8.0B | ||
| Q3 25 | $1.3B | $7.7B | ||
| Q2 25 | $836.0M | $8.1B | ||
| Q1 25 | $1.1B | $8.1B | ||
| Q4 24 | $1.6B | $7.9B | ||
| Q3 24 | $1.3B | $7.5B | ||
| Q2 24 | $889.0M | $9.3B |
总资产EXPEWTW
| Q1 26 | $24.5B | — | ||
| Q4 25 | $24.5B | $29.5B | ||
| Q3 25 | $25.1B | $27.4B | ||
| Q2 25 | $27.0B | $28.5B | ||
| Q1 25 | $26.1B | $28.1B | ||
| Q4 24 | $22.4B | $27.7B | ||
| Q3 24 | $23.4B | $27.2B | ||
| Q2 24 | $25.9B | $29.6B |
负债/权益比EXPEWTW
| Q1 26 | 4.80× | — | ||
| Q4 25 | 4.80× | 1.21× | ||
| Q3 25 | 4.65× | — | ||
| Q2 25 | 7.43× | — | ||
| Q1 25 | 5.79× | — | ||
| Q4 24 | 4.02× | 1.08× | ||
| Q3 24 | 4.74× | — | ||
| Q2 24 | 7.04× | — |
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 | — | $771.0M |
| 自由现金流经营现金流 - 资本支出 | — | $708.0M |
| 自由现金流率自由现金流/营收 | — | 24.6% |
| 资本支出强度资本支出/营收 | — | 2.2% |
| 现金转化率经营现金流/净利润 | — | 1.05× |
| 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EXPEWTW
| Q1 26 | — | — | ||
| Q4 25 | $304.0M | $771.0M | ||
| Q3 25 | $-497.0M | $678.0M | ||
| Q2 25 | $1.1B | $361.0M | ||
| Q1 25 | $3.0B | $-35.0M | ||
| Q4 24 | $198.0M | $599.0M | ||
| Q3 24 | $-1.5B | $482.0M | ||
| Q2 24 | $1.5B | $407.0M |
自由现金流EXPEWTW
| Q1 26 | — | — | ||
| Q4 25 | $119.0M | $708.0M | ||
| Q3 25 | $-686.0M | $621.0M | ||
| Q2 25 | $921.0M | $303.0M | ||
| Q1 25 | $2.8B | $-86.0M | ||
| Q4 24 | $7.0M | $543.0M | ||
| Q3 24 | $-1.7B | $419.0M | ||
| Q2 24 | $1.3B | $341.0M |
自由现金流率EXPEWTW
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 24.6% | ||
| Q3 25 | -15.5% | 27.7% | ||
| Q2 25 | 24.3% | 13.7% | ||
| Q1 25 | 92.2% | -3.9% | ||
| Q4 24 | 0.2% | 18.2% | ||
| Q3 24 | -41.6% | 18.7% | ||
| Q2 24 | 36.7% | 15.4% |
资本支出强度EXPEWTW
| Q1 26 | — | — | ||
| Q4 25 | 5.2% | 2.2% | ||
| Q3 25 | 4.3% | 2.5% | ||
| Q2 25 | 5.3% | 2.6% | ||
| Q1 25 | 6.6% | 2.3% | ||
| Q4 24 | 6.0% | 1.9% | ||
| Q3 24 | 4.8% | 2.8% | ||
| Q2 24 | 5.5% | 3.0% |
现金转化率EXPEWTW
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 1.05× | ||
| Q3 25 | -0.52× | 2.23× | ||
| Q2 25 | 3.40× | 1.09× | ||
| Q1 25 | — | -0.15× | ||
| Q4 24 | 0.66× | 0.48× | ||
| Q3 24 | -2.18× | — | ||
| Q2 24 | 3.89× | 2.89× |
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
EXPE
暂无分部数据
WTW
| Health Wealth And Career | $1.7B | 58% |
| GB | $566.0M | 20% |
| Broking | $465.0M | 16% |
| Other | $113.0M | 4% |
| December Thirty One Two Thousand And Twenty Four | $67.0M | 2% |
| IE | $38.0M | 1% |
