vs
Global Business Travel Group, Inc.（GBTG）与LINDBLAD EXPEDITIONS HOLDINGS, INC.（LIND）财务数据对比。点击上方公司名可切换其他公司
Global Business Travel Group, Inc.的季度营收约是LINDBLAD EXPEDITIONS HOLDINGS, INC.的4.3倍（$792.0M vs $183.2M）。Global Business Travel Group, Inc.净利率更高（10.5% vs -12.9%，领先23.3%）。Global Business Travel Group, Inc.同比增速更快（34.0% vs 23.3%）。Global Business Travel Group, Inc.自由现金流更多（$13.0M vs $3.5M）。过去两年Global Business Travel Group, Inc.的营收复合增速更高（13.9% vs 9.2%）
环球商旅集团（GBTG）是专业的差旅管理服务商，致力于为各类企业及机构提供全链路商务出行解决方案。核心服务涵盖智能线上预订工具、移动端应用、差旅项目管控与咨询、高管专属出行服务、会议活动支持、差旅数据分析以及出行安全保障等，可满足不同规模客户的多元化商务出行管理需求。
林德布拉德探险控股是一家专业探险旅行企业，总部位于美国纽约。目前公司运营15艘探险邮轮，载客量从28人到150人不等，可为旅行者提供覆盖全球七大洲目的地的探险邮轮旅程。
GBTG vs LIND — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $792.0M | $183.2M |
| 净利润 | $83.0M | $-23.6M |
| 毛利率 | — | 40.3% |
| 营业利润率 | 3.7% | -3.0% |
| 净利率 | 10.5% | -12.9% |
| 营收同比 | 34.0% | 23.3% |
| 净利润同比 | 692.9% | 6.0% |
| 每股收益（稀释后） | $0.16 | $-0.45 |
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 | $792.0M | $183.2M | ||
| Q3 25 | $674.0M | $240.2M | ||
| Q2 25 | $631.0M | $167.9M | ||
| Q1 25 | $621.0M | $179.7M | ||
| Q4 24 | $591.0M | $148.6M | ||
| Q3 24 | $597.0M | $206.0M | ||
| Q2 24 | $625.0M | $136.5M | ||
| Q1 24 | $610.0M | $153.6M |
| Q4 25 | $83.0M | $-23.6M | ||
| Q3 25 | $-62.0M | $1.2M | ||
| Q2 25 | $15.0M | $-8.5M | ||
| Q1 25 | $75.0M | $1.2M | ||
| Q4 24 | $-14.0M | $-25.0M | ||
| Q3 24 | $-128.0M | $22.5M | ||
| Q2 24 | $27.0M | $-24.7M | ||
| Q1 24 | $-19.0M | $-4.0M |
| Q4 25 | — | 40.3% | ||
| Q3 25 | — | 48.2% | ||
| Q2 25 | — | 45.6% | ||
| Q1 25 | — | 48.3% | ||
| Q4 24 | — | 42.5% | ||
| Q3 24 | — | 46.7% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 45.0% |
| Q4 25 | 3.7% | -3.0% | ||
| Q3 25 | 1.8% | 15.0% | ||
| Q2 25 | 5.4% | 2.6% | ||
| Q1 25 | 8.9% | 5.9% | ||
| Q4 24 | 5.1% | -5.1% | ||
| Q3 24 | 4.5% | 14.3% | ||
| Q2 24 | 6.7% | -6.0% | ||
| Q1 24 | 2.6% | 5.1% |
| Q4 25 | 10.5% | -12.9% | ||
| Q3 25 | -9.2% | 0.5% | ||
| Q2 25 | 2.4% | -5.1% | ||
| Q1 25 | 12.1% | 0.6% | ||
| Q4 24 | -2.4% | -16.9% | ||
| Q3 24 | -21.4% | 10.9% | ||
| Q2 24 | 4.3% | -18.1% | ||
| Q1 24 | -3.1% | -2.6% |
| Q4 25 | $0.16 | $-0.45 | ||
| Q3 25 | $-0.13 | $0.00 | ||
| Q2 25 | $0.03 | $-0.18 | ||
| Q1 25 | $0.16 | $0.00 | ||
| Q4 24 | $-0.04 | $-0.45 | ||
| Q3 24 | $-0.28 | $0.36 | ||
| Q2 24 | $0.06 | $-0.48 | ||
| Q1 24 | $-0.04 | $-0.10 |
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 | $434.0M | $256.7M |
| 总债务越低越好 | $1.4B | $662.7M |
| 股东权益账面价值 | $1.6B | $-284.5M |
| 总资产 | $4.9B | $980.0M |
| 负债/权益比越低杠杆越低 | 0.88× | — |
8季度趋势，按日历期对齐
| Q4 25 | $434.0M | $256.7M | ||
| Q3 25 | $427.0M | $261.8M | ||
| Q2 25 | $601.0M | $200.9M | ||
| Q1 25 | $552.0M | $188.9M | ||
| Q4 24 | $536.0M | $183.9M | ||
| Q3 24 | $524.0M | $193.9M | ||
| Q2 24 | $515.0M | $168.1M | ||
| Q1 24 | $475.0M | $177.7M |
| Q4 25 | $1.4B | $662.7M | ||
| Q3 25 | $1.4B | $663.5M | ||
| Q2 25 | $1.4B | $627.3M | ||
| Q1 25 | $1.4B | $626.4M | ||
| Q4 24 | $1.4B | $625.5M | ||
| Q3 24 | $1.4B | $624.5M | ||
| Q2 24 | — | $623.6M | ||
| Q1 24 | — | $622.7M |
| Q4 25 | $1.6B | $-284.5M | ||
| Q3 25 | $1.5B | $-256.6M | ||
| Q2 25 | $1.2B | $-263.8M | ||
| Q1 25 | $1.1B | $-252.2M | ||
| Q4 24 | $1.1B | $-253.1M | ||
| Q3 24 | $1.1B | $-226.9M | ||
| Q2 24 | $1.2B | $-255.5M | ||
| Q1 24 | $1.2B | $-227.4M |
| Q4 25 | $4.9B | $980.0M | ||
| Q3 25 | $4.8B | $976.5M | ||
| Q2 25 | $3.9B | $936.5M | ||
| Q1 25 | $3.8B | $908.8M | ||
| Q4 24 | $3.6B | $876.9M | ||
| Q3 24 | $3.8B | $889.8M | ||
| Q2 24 | $3.8B | $858.3M | ||
| Q1 24 | $3.8B | $868.0M |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.26× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $52.0M | $14.4M |
| 自由现金流经营现金流 - 资本支出 | $13.0M | $3.5M |
| 自由现金流率自由现金流/营收 | 1.6% | 1.9% |
| 资本支出强度资本支出/营收 | 4.9% | 6.0% |
| 现金转化率经营现金流/净利润 | 0.63× | — |
| 过去12个月自由现金流最近4个季度 | $104.0M | $63.8M |
8季度趋势，按日历期对齐
| Q4 25 | $52.0M | $14.4M | ||
| Q3 25 | $71.0M | $19.5M | ||
| Q2 25 | $57.0M | $29.2M | ||
| Q1 25 | $53.0M | $48.4M | ||
| Q4 24 | $65.0M | $1.7M | ||
| Q3 24 | $85.0M | $28.1M | ||
| Q2 24 | $73.0M | $18.6M | ||
| Q1 24 | $49.0M | $43.9M |
| Q4 25 | $13.0M | $3.5M | ||
| Q3 25 | $38.0M | $11.9M | ||
| Q2 25 | $27.0M | $13.5M | ||
| Q1 25 | $26.0M | $35.0M | ||
| Q4 24 | $33.0M | $-8.2M | ||
| Q3 24 | $59.0M | $18.4M | ||
| Q2 24 | $49.0M | $11.2M | ||
| Q1 24 | $24.0M | $37.4M |
| Q4 25 | 1.6% | 1.9% | ||
| Q3 25 | 5.6% | 5.0% | ||
| Q2 25 | 4.3% | 8.0% | ||
| Q1 25 | 4.2% | 19.5% | ||
| Q4 24 | 5.6% | -5.5% | ||
| Q3 24 | 9.9% | 8.9% | ||
| Q2 24 | 7.8% | 8.2% | ||
| Q1 24 | 3.9% | 24.4% |
| Q4 25 | 4.9% | 6.0% | ||
| Q3 25 | 4.9% | 3.2% | ||
| Q2 25 | 4.8% | 9.4% | ||
| Q1 25 | 4.3% | 7.5% | ||
| Q4 24 | 5.4% | 6.6% | ||
| Q3 24 | 4.4% | 4.7% | ||
| Q2 24 | 3.8% | 5.4% | ||
| Q1 24 | 4.1% | 4.2% |
| Q4 25 | 0.63× | — | ||
| Q3 25 | — | 16.41× | ||
| Q2 25 | 3.80× | — | ||
| Q1 25 | 0.71× | 41.69× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | 2.70× | — | ||
| Q1 24 | — | — |
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
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
LIND
| Guest Ticket | $96.5M | 53% |
| Landexperience | $67.3M | 37% |
| Other Tour | $19.4M | 11% |
