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Shift4 Payments, Inc.（FOUR）与Hilton Grand Vacations Inc.（HGV）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是Shift4 Payments, Inc.的1.0倍（$1.2B vs $1.2B），Hilton Grand Vacations Inc.净利率更高（4.0% vs 3.4%，领先0.6%），Shift4 Payments, Inc.同比增速更快（34.0% vs 3.7%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $147.0M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs 7.4%）
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
FOUR vs HGV — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $40.2M | $48.0M |
| 毛利率 | — | — |
| 营业利润率 | 10.8% | 7.8% |
| 净利率 | 3.4% | 4.0% |
| 营收同比 | 34.0% | 3.7% |
| 净利润同比 | -65.3% | 140.0% |
| 每股收益（稀释后） | — | $0.53 |
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
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $966.2M | $1.1B | ||
| Q1 25 | $848.3M | $1.0B | ||
| Q4 24 | $887.0M | $1.1B | ||
| Q3 24 | $909.2M | $1.2B | ||
| Q2 24 | $827.0M | $1.1B | ||
| Q1 24 | $707.4M | $1.0B |
| Q4 25 | $40.2M | $48.0M | ||
| Q3 25 | $28.1M | $25.0M | ||
| Q2 25 | $34.0M | $25.0M | ||
| Q1 25 | $16.7M | $-17.0M | ||
| Q4 24 | $116.0M | $20.0M | ||
| Q3 24 | $53.8M | $29.0M | ||
| Q2 24 | $39.2M | $2.0M | ||
| Q1 24 | $20.6M | $-4.0M |
| Q4 25 | 10.8% | 7.8% | ||
| Q3 25 | 9.7% | 3.9% | ||
| Q2 25 | 8.6% | 3.8% | ||
| Q1 25 | 3.0% | -0.6% | ||
| Q4 24 | 9.7% | 4.3% | ||
| Q3 24 | 8.8% | 7.9% | ||
| Q2 24 | 7.2% | 0.6% | ||
| Q1 24 | 3.0% | -1.3% |
| Q4 25 | 3.4% | 4.0% | ||
| Q3 25 | 2.4% | 2.1% | ||
| Q2 25 | 3.5% | 2.2% | ||
| Q1 25 | 2.0% | -1.7% | ||
| Q4 24 | 13.1% | 1.7% | ||
| Q3 24 | 5.9% | 2.5% | ||
| Q2 24 | 4.7% | 0.2% | ||
| Q1 24 | 2.9% | -0.4% |
| Q4 25 | — | $0.53 | ||
| Q3 25 | — | $0.28 | ||
| Q2 25 | — | $0.25 | ||
| Q1 25 | — | $-0.17 | ||
| Q4 24 | — | $0.19 | ||
| Q3 24 | — | $0.28 | ||
| Q2 24 | — | $0.02 | ||
| Q1 24 | — | $-0.04 |
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 | $964.0M | $239.0M |
| 总债务越低越好 | $4.5B | $4.5B |
| 股东权益账面价值 | $1.4B | $1.3B |
| 总资产 | $8.7B | $11.5B |
| 负债/权益比越低杠杆越低 | 3.15× | 3.53× |
8季度趋势，按日历期对齐
| Q4 25 | $964.0M | $239.0M | ||
| Q3 25 | $1.5B | $215.0M | ||
| Q2 25 | $3.0B | $269.0M | ||
| Q1 25 | $1.2B | $259.0M | ||
| Q4 24 | $1.2B | $328.0M | ||
| Q3 24 | $1.4B | $297.0M | ||
| Q2 24 | $205.0M | $328.0M | ||
| Q1 24 | $522.9M | $355.0M |
| Q4 25 | $4.5B | $4.5B | ||
| Q3 25 | $4.7B | $4.7B | ||
| Q2 25 | $3.7B | $4.6B | ||
| Q1 25 | $2.8B | $4.5B | ||
| Q4 24 | $2.8B | $4.6B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $805.2M | $1.6B | ||
| Q4 24 | $806.6M | $1.8B | ||
| Q3 24 | $811.8M | $1.8B | ||
| Q2 24 | $700.8M | $1.9B | ||
| Q1 24 | $674.5M | $2.0B |
| Q4 25 | $8.7B | $11.5B | ||
| Q3 25 | $9.0B | $11.7B | ||
| Q2 25 | $7.0B | $11.7B | ||
| Q1 25 | $5.0B | $11.8B | ||
| Q4 24 | $5.0B | $11.4B | ||
| Q3 24 | $5.0B | $11.2B | ||
| Q2 24 | $3.5B | $11.5B | ||
| Q1 24 | $3.4B | $11.7B |
| Q4 25 | 3.15× | 3.53× | ||
| Q3 25 | 2.83× | 3.41× | ||
| Q2 25 | 2.34× | 3.07× | ||
| Q1 25 | 3.53× | 2.83× | ||
| Q4 24 | 3.52× | 2.63× | ||
| Q3 24 | — | 2.73× | ||
| Q2 24 | — | 2.55× | ||
| Q1 24 | — | 2.57× |
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 | $223.7M | $167.0M |
| 自由现金流经营现金流 - 资本支出 | $222.5M | $147.0M |
| 自由现金流率自由现金流/营收 | 18.7% | 12.3% |
| 资本支出强度资本支出/营收 | 0.1% | 1.7% |
| 现金转化率经营现金流/净利润 | 5.56× | 3.48× |
| 过去12个月自由现金流最近4个季度 | $624.0M | $230.0M |
8季度趋势，按日历期对齐
| Q4 25 | $223.7M | $167.0M | ||
| Q3 25 | $171.8M | $34.0M | ||
| Q2 25 | $141.9M | $61.0M | ||
| Q1 25 | $96.6M | $38.0M | ||
| Q4 24 | $145.4M | $105.0M | ||
| Q3 24 | $182.1M | $91.0M | ||
| Q2 24 | $116.1M | $113.0M | ||
| Q1 24 | $56.7M | $0 |
| Q4 25 | $222.5M | $147.0M | ||
| Q3 25 | $165.4M | $13.0M | ||
| Q2 25 | $141.0M | $46.0M | ||
| Q1 25 | $95.1M | $24.0M | ||
| Q4 24 | $143.8M | $90.0M | ||
| Q3 24 | $180.1M | $81.0M | ||
| Q2 24 | $113.9M | $106.0M | ||
| Q1 24 | $55.4M | — |
| Q4 25 | 18.7% | 12.3% | ||
| Q3 25 | 14.1% | 1.1% | ||
| Q2 25 | 14.6% | 4.0% | ||
| Q1 25 | 11.2% | 2.4% | ||
| Q4 24 | 16.2% | 7.8% | ||
| Q3 24 | 19.8% | 6.9% | ||
| Q2 24 | 13.8% | 9.6% | ||
| Q1 24 | 7.8% | — |
| Q4 25 | 0.1% | 1.7% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 0.1% | 1.3% | ||
| Q1 25 | 0.2% | 1.4% | ||
| Q4 24 | 0.2% | 1.3% | ||
| Q3 24 | 0.2% | 0.9% | ||
| Q2 24 | 0.3% | 0.6% | ||
| Q1 24 | 0.2% | 1.0% |
| Q4 25 | 5.56× | 3.48× | ||
| Q3 25 | 6.11× | 1.36× | ||
| Q2 25 | 4.17× | 2.44× | ||
| Q1 25 | 5.78× | — | ||
| Q4 24 | 1.25× | 5.25× | ||
| Q3 24 | 3.38× | 3.14× | ||
| Q2 24 | 2.96× | 56.50× | ||
| Q1 24 | 2.75× | — |
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
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
