vs
FULL HOUSE RESORTS INC（FLL）与凯悦酒店集团（H）财务数据对比。点击上方公司名可切换其他公司
凯悦酒店集团的季度营收约是FULL HOUSE RESORTS INC的23.7倍（$1.8B vs $75.4M）。凯悦酒店集团净利率更高（-1.1% vs -16.4%，领先15.3%）。凯悦酒店集团同比增速更快（11.7% vs 3.4%）。凯悦酒店集团自由现金流更多（$236.0M vs $10.7M）。过去两年FULL HOUSE RESORTS INC的营收复合增速更高（3.9% vs 2.2%）
富屋度假集团是总部设在美国内华达州萨默林南的赌场开发商与运营商，目前在营赌场共五家。湾流宇航创始人艾伦·保尔森曾于1994年至2000年担任该公司首席执行官，前克莱斯勒董事长李·艾柯卡曾在1995年至2013年间作为大股东参股，丹·李自2014年末起出任公司首席执行官。
凯悦酒店集团是来自美国的跨国酒店管理企业，总部位于芝加哥河畔广场区域，由普利兹克家族运营管理。集团主营高端及商务酒店、度假村、度假物业的管理与特许经营业务，目前在全球69个国家拥有逾1350家酒店及一价全包物业，覆盖六大洲。
FLL vs H — 直观对比
营收规模更大
H
是对方的23.7倍
$75.4M
营收增速更快
H
高出8.3%
3.4%
净利率更高
H
高出15.3%
-16.4%
自由现金流更多
H
多$225.3M
$10.7M
两年增速更快
FLL
近两年复合增速
2.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $75.4M | $1.8B |
| 净利润 | $-12.4M | $-20.0M |
| 毛利率 | 93.1% | — |
| 营业利润率 | -1.3% | 0.4% |
| 净利率 | -16.4% | -1.1% |
| 营收同比 | 3.4% | 11.7% |
| 净利润同比 | -0.6% | 64.3% |
| 每股收益（稀释后） | $-0.35 | $-0.20 |
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FLLH
| Q4 25 | $75.4M | $1.8B | ||
| Q3 25 | $78.0M | $1.8B | ||
| Q2 25 | $73.9M | $1.8B | ||
| Q1 25 | $75.1M | $1.7B | ||
| Q4 24 | $73.0M | $1.6B | ||
| Q3 24 | $75.7M | $1.6B | ||
| Q2 24 | $73.5M | $1.7B | ||
| Q1 24 | $69.9M | $1.7B |
净利润FLLH
| Q4 25 | $-12.4M | $-20.0M | ||
| Q3 25 | $-7.7M | $-49.0M | ||
| Q2 25 | $-10.4M | $-3.0M | ||
| Q1 25 | $-9.8M | $20.0M | ||
| Q4 24 | $-12.3M | $-56.0M | ||
| Q3 24 | $-8.5M | $471.0M | ||
| Q2 24 | $-8.6M | $359.0M | ||
| Q1 24 | $-11.3M | $522.0M |
毛利率FLLH
| Q4 25 | 93.1% | — | ||
| Q3 25 | 93.2% | — | ||
| Q2 25 | 93.5% | — | ||
| Q1 25 | 93.4% | — | ||
| Q4 24 | 92.1% | — | ||
| Q3 24 | 92.2% | — | ||
| Q2 24 | 92.4% | — | ||
| Q1 24 | 92.3% | — |
营业利润率FLLH
| Q4 25 | -1.3% | 0.4% | ||
| Q3 25 | 4.4% | -1.0% | ||
| Q2 25 | -0.1% | 2.1% | ||
| Q1 25 | 1.0% | 3.0% | ||
| Q4 24 | -1.9% | -3.0% | ||
| Q3 24 | 3.2% | 37.3% | ||
| Q2 24 | 3.2% | 27.1% | ||
| Q1 24 | -0.9% | 31.6% |
净利率FLLH
| Q4 25 | -16.4% | -1.1% | ||
| Q3 25 | -9.8% | -2.7% | ||
| Q2 25 | -14.0% | -0.2% | ||
| Q1 25 | -13.0% | 1.2% | ||
| Q4 24 | -16.9% | -3.5% | ||
| Q3 24 | -11.2% | 28.9% | ||
| Q2 24 | -11.7% | 21.1% | ||
| Q1 24 | -16.1% | 30.5% |
每股收益（稀释后）FLLH
| Q4 25 | $-0.35 | $-0.20 | ||
| Q3 25 | $-0.21 | $-0.51 | ||
| Q2 25 | $-0.29 | $-0.03 | ||
| Q1 25 | $-0.27 | $0.19 | ||
| Q4 24 | $-0.34 | $-0.37 | ||
| Q3 24 | $-0.24 | $4.63 | ||
| Q2 24 | $-0.25 | $3.46 | ||
| Q1 24 | $-0.33 | $4.93 |
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 | $40.7M | $813.0M |
| 总债务越低越好 | $473.6M | — |
| 股东权益账面价值 | $2.5M | $3.3B |
| 总资产 | $649.8M | $14.0B |
| 负债/权益比越低杠杆越低 | 186.62× | — |
8季度趋势，按日历期对齐
现金及短期投资FLLH
| Q4 25 | $40.7M | $813.0M | ||
| Q3 25 | $30.9M | $749.0M | ||
| Q2 25 | $32.1M | $912.0M | ||
| Q1 25 | $30.7M | $1.8B | ||
| Q4 24 | $40.2M | $1.4B | ||
| Q3 24 | $25.9M | $1.1B | ||
| Q2 24 | $31.1M | $2.0B | ||
| Q1 24 | $25.7M | $794.0M |
总债务FLLH
| Q4 25 | $473.6M | — | ||
| Q3 25 | $473.1M | $6.0B | ||
| Q2 25 | $467.5M | $6.0B | ||
| Q1 25 | $471.7M | $4.3B | ||
| Q4 24 | $468.1M | $3.8B | ||
| Q3 24 | $467.4M | $3.1B | ||
| Q2 24 | $466.6M | $3.9B | ||
| Q1 24 | $465.9M | $3.1B |
股东权益FLLH
| Q4 25 | $2.5M | $3.3B | ||
| Q3 25 | $14.2M | $3.5B | ||
| Q2 25 | $21.2M | $3.6B | ||
| Q1 25 | $31.0M | $3.5B | ||
| Q4 24 | $40.5M | $3.5B | ||
| Q3 24 | $51.8M | $3.7B | ||
| Q2 24 | $59.5M | $3.9B | ||
| Q1 24 | $67.3M | $3.7B |
总资产FLLH
| Q4 25 | $649.8M | $14.0B | ||
| Q3 25 | $644.4M | $15.7B | ||
| Q2 25 | $651.5M | $15.9B | ||
| Q1 25 | $657.2M | $14.0B | ||
| Q4 24 | $673.3M | $13.3B | ||
| Q3 24 | $668.7M | $11.9B | ||
| Q2 24 | $673.9M | $12.8B | ||
| Q1 24 | $670.4M | $11.7B |
负债/权益比FLLH
| Q4 25 | 186.62× | — | ||
| Q3 25 | 33.30× | 1.73× | ||
| Q2 25 | 22.04× | 1.69× | ||
| Q1 25 | 15.22× | 1.25× | ||
| Q4 24 | 11.56× | 1.07× | ||
| Q3 24 | 9.02× | 0.85× | ||
| Q2 24 | 7.85× | 1.01× | ||
| Q1 24 | 6.92× | 0.84× |
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 | $12.0M | $313.0M |
| 自由现金流经营现金流 - 资本支出 | $10.7M | $236.0M |
| 自由现金流率自由现金流/营收 | 14.1% | 13.2% |
| 资本支出强度资本支出/营收 | 1.8% | 4.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-2.7M | $159.0M |
8季度趋势，按日历期对齐
经营现金流FLLH
| Q4 25 | $12.0M | $313.0M | ||
| Q3 25 | $-472.0K | $-20.0M | ||
| Q2 25 | $7.9M | $-67.0M | ||
| Q1 25 | $-9.5M | $153.0M | ||
| Q4 24 | $14.8M | $235.0M | ||
| Q3 24 | $-6.7M | $-21.0M | ||
| Q2 24 | $10.1M | $177.0M | ||
| Q1 24 | $-4.4M | $242.0M |
自由现金流FLLH
| Q4 25 | $10.7M | $236.0M | ||
| Q3 25 | $-5.5M | $-89.0M | ||
| Q2 25 | $4.5M | $-111.0M | ||
| Q1 25 | $-12.3M | $123.0M | ||
| Q4 24 | $6.9M | $184.0M | ||
| Q3 24 | $-17.4M | $-64.0M | ||
| Q2 24 | $-1.2M | $135.0M | ||
| Q1 24 | $-27.0M | $208.0M |
自由现金流率FLLH
| Q4 25 | 14.1% | 13.2% | ||
| Q3 25 | -7.1% | -5.0% | ||
| Q2 25 | 6.1% | -6.1% | ||
| Q1 25 | -16.4% | 7.2% | ||
| Q4 24 | 9.4% | 11.5% | ||
| Q3 24 | -23.0% | -3.9% | ||
| Q2 24 | -1.6% | 7.9% | ||
| Q1 24 | -38.7% | 12.1% |
资本支出强度FLLH
| Q4 25 | 1.8% | 4.3% | ||
| Q3 25 | 6.5% | 3.9% | ||
| Q2 25 | 4.5% | 2.4% | ||
| Q1 25 | 3.8% | 1.7% | ||
| Q4 24 | 10.9% | 3.2% | ||
| Q3 24 | 14.1% | 2.6% | ||
| Q2 24 | 15.4% | 2.5% | ||
| Q1 24 | 32.4% | 2.0% |
现金转化率FLLH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.04× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.46× |
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
FLL
| Midwest And South | $58.2M | 77% |
| Food And Beverage | $9.7M | 13% |
| Other Operations | $3.6M | 5% |
| Other | $2.3M | 3% |
| Contracted Sports Wagering | $1.7M | 2% |
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
