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Flutter Entertainment plc（FLUT）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
Flutter Entertainment plc的季度营收约是皇家加勒比集团的1.1倍（$4.7B vs $4.3B），皇家加勒比集团净利率更高（17.7% vs 0.2%，领先17.5%），Flutter Entertainment plc同比增速更快（24.9% vs 13.3%），Flutter Entertainment plc自由现金流更多（$392.0M vs $116.0M），过去两年Flutter Entertainment plc的营收复合增速更高（18.1% vs 6.9%）
Flutter Entertainment plc是爱尔兰裔美国跨国体育博彩及娱乐博彩企业，于纽约证券交易所主上市，同时在伦敦证券交易所第二上市，旗下拥有Betfair、FanDuel、Paddy Power、PokerStars、Sky Betting & Gaming、Sportsbet等知名品牌，是全球规模最大的在线博彩运营商。
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。
FLUT vs RCL — 直观对比
营收规模更大
FLUT
是对方的1.1倍
$4.3B
营收增速更快
FLUT
高出11.6%
13.3%
净利率更高
RCL
高出17.5%
0.2%
自由现金流更多
FLUT
多$276.0M
$116.0M
两年增速更快
FLUT
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $4.3B |
| 净利润 | $10.0M | $753.0M |
| 毛利率 | 44.5% | 47.4% |
| 营业利润率 | 5.4% | 21.9% |
| 净利率 | 0.2% | 17.7% |
| 营收同比 | 24.9% | 13.3% |
| 净利润同比 | -93.6% | 36.4% |
| 每股收益（稀释后） | $0.00 | $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FLUTRCL
| Q4 25 | $4.7B | $4.3B | ||
| Q3 25 | $3.8B | $5.1B | ||
| Q2 25 | $4.2B | $4.5B | ||
| Q1 25 | $3.7B | $4.0B | ||
| Q4 24 | $3.8B | $3.8B | ||
| Q3 24 | $3.2B | $4.9B | ||
| Q2 24 | $3.6B | $4.1B | ||
| Q1 24 | $3.4B | $3.7B |
净利润FLUTRCL
| Q4 25 | $10.0M | $753.0M | ||
| Q3 25 | $-789.0M | $1.6B | ||
| Q2 25 | $37.0M | $1.2B | ||
| Q1 25 | $335.0M | $730.0M | ||
| Q4 24 | $156.0M | $552.0M | ||
| Q3 24 | $-114.0M | $1.1B | ||
| Q2 24 | $297.0M | $854.0M | ||
| Q1 24 | $-177.0M | $360.0M |
毛利率FLUTRCL
| Q4 25 | 44.5% | 47.4% | ||
| Q3 25 | 42.9% | 51.8% | ||
| Q2 25 | 46.8% | 49.7% | ||
| Q1 25 | 46.6% | 48.0% | ||
| Q4 24 | 48.2% | 45.4% | ||
| Q3 24 | 46.1% | 51.1% | ||
| Q2 24 | 49.2% | 47.6% | ||
| Q1 24 | 47.2% | 44.8% |
营业利润率FLUTRCL
| Q4 25 | 5.4% | 21.9% | ||
| Q3 25 | -22.0% | 33.1% | ||
| Q2 25 | 9.3% | 29.3% | ||
| Q1 25 | 6.1% | 23.6% | ||
| Q4 24 | 7.4% | 16.6% | ||
| Q3 24 | 3.0% | 33.4% | ||
| Q2 24 | 10.2% | 26.7% | ||
| Q1 24 | 3.7% | 20.1% |
净利率FLUTRCL
| Q4 25 | 0.2% | 17.7% | ||
| Q3 25 | -20.8% | 30.6% | ||
| Q2 25 | 0.9% | 26.7% | ||
| Q1 25 | 9.1% | 18.3% | ||
| Q4 24 | 4.1% | 14.7% | ||
| Q3 24 | -3.5% | 22.7% | ||
| Q2 24 | 8.2% | 20.8% | ||
| Q1 24 | -5.2% | 9.7% |
每股收益（稀释后）FLUTRCL
| Q4 25 | $0.00 | $2.76 | ||
| Q3 25 | $-3.91 | $5.74 | ||
| Q2 25 | $0.59 | $4.41 | ||
| Q1 25 | $1.57 | $2.70 | ||
| Q4 24 | $0.47 | $2.27 | ||
| Q3 24 | $-0.58 | $4.21 | ||
| Q2 24 | $1.45 | $3.11 | ||
| Q1 24 | $-1.10 | $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 | $1.8B | $825.0M |
| 总债务越低越好 | $12.3B | $18.2B |
| 股东权益账面价值 | $9.0B | $10.0B |
| 总资产 | $29.3B | $41.6B |
| 负债/权益比越低杠杆越低 | 1.36× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资FLUTRCL
| Q4 25 | $1.8B | $825.0M | ||
| Q3 25 | $1.7B | $432.0M | ||
| Q2 25 | $1.7B | $735.0M | ||
| Q1 25 | $1.5B | $386.0M | ||
| Q4 24 | $1.5B | $388.0M | ||
| Q3 24 | $1.5B | $418.0M | ||
| Q2 24 | $1.5B | $391.0M | ||
| Q1 24 | $1.4B | $437.0M |
总债务FLUTRCL
| Q4 25 | $12.3B | $18.2B | ||
| Q3 25 | $12.1B | $17.2B | ||
| Q2 25 | $10.0B | $17.6B | ||
| Q1 25 | $6.8B | $18.0B | ||
| Q4 24 | $6.7B | $18.5B | ||
| Q3 24 | $6.9B | $19.0B | ||
| Q2 24 | $6.8B | $19.8B | ||
| Q1 24 | $6.8B | $18.9B |
股东权益FLUTRCL
| Q4 25 | $9.0B | $10.0B | ||
| Q3 25 | $9.2B | $10.1B | ||
| Q2 25 | $10.2B | $9.2B | ||
| Q1 25 | $9.9B | $8.0B | ||
| Q4 24 | $9.3B | $7.6B | ||
| Q3 24 | $10.2B | $7.0B | ||
| Q2 24 | $9.9B | $6.0B | ||
| Q1 24 | $9.5B | $5.2B |
总资产FLUTRCL
| Q4 25 | $29.3B | $41.6B | ||
| Q3 25 | $29.3B | $40.1B | ||
| Q2 25 | $29.9B | $38.5B | ||
| Q1 25 | $24.8B | $37.5B | ||
| Q4 24 | $24.5B | $37.1B | ||
| Q3 24 | $25.5B | $37.1B | ||
| Q2 24 | $24.3B | $37.0B | ||
| Q1 24 | $24.4B | $35.2B |
负债/权益比FLUTRCL
| Q4 25 | 1.36× | 1.81× | ||
| Q3 25 | 1.31× | 1.70× | ||
| Q2 25 | 0.97× | 1.92× | ||
| Q1 25 | 0.69× | 2.26× | ||
| Q4 24 | 0.72× | 2.44× | ||
| Q3 24 | 0.67× | 2.69× | ||
| Q2 24 | 0.69× | 3.29× | ||
| Q1 24 | 0.72× | 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 | $428.0M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $392.0M | $116.0M |
| 自由现金流率自由现金流/营收 | 8.3% | 2.7% |
| 资本支出强度资本支出/营收 | 0.8% | 35.4% |
| 现金转化率经营现金流/净利润 | 42.80× | 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FLUTRCL
| Q4 25 | $428.0M | $1.6B | ||
| Q3 25 | $209.0M | $1.5B | ||
| Q2 25 | $359.0M | $1.7B | ||
| Q1 25 | $188.0M | $1.6B | ||
| Q4 24 | $652.0M | $1.5B | ||
| Q3 24 | $290.0M | $897.0M | ||
| Q2 24 | $323.0M | $1.6B | ||
| Q1 24 | $337.0M | $1.3B |
自由现金流FLUTRCL
| Q4 25 | $392.0M | $116.0M | ||
| Q3 25 | $196.0M | $-989.0M | ||
| Q2 25 | $322.0M | $910.0M | ||
| Q1 25 | $169.0M | $1.2B | ||
| Q4 24 | $595.0M | $915.0M | ||
| Q3 24 | $253.0M | $563.0M | ||
| Q2 24 | $295.0M | $-567.0M | ||
| Q1 24 | $315.0M | $1.1B |
自由现金流率FLUTRCL
| Q4 25 | 8.3% | 2.7% | ||
| Q3 25 | 5.2% | -19.2% | ||
| Q2 25 | 7.7% | 20.1% | ||
| Q1 25 | 4.6% | 30.0% | ||
| Q4 24 | 15.7% | 24.3% | ||
| Q3 24 | 7.8% | 11.5% | ||
| Q2 24 | 8.2% | -13.8% | ||
| Q1 24 | 9.3% | 29.1% |
资本支出强度FLUTRCL
| Q4 25 | 0.8% | 35.4% | ||
| Q3 25 | 0.3% | 47.8% | ||
| Q2 25 | 0.9% | 18.4% | ||
| Q1 25 | 0.5% | 10.7% | ||
| Q4 24 | 1.5% | 14.7% | ||
| Q3 24 | 1.1% | 6.8% | ||
| Q2 24 | 0.8% | 52.1% | ||
| Q1 24 | 0.6% | 6.5% |
现金转化率FLUTRCL
| Q4 25 | 42.80× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | 9.70× | 1.44× | ||
| Q1 25 | 0.56× | 2.23× | ||
| Q4 24 | 4.18× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 1.09× | 1.84× | ||
| Q1 24 | — | 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
FLUT
| Other | $2.6B | 55% |
| Sports Book | $1.5B | 32% |
| Igaming | $586.0M | 12% |
| Service Other | $59.0M | 1% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
