vs
Global Business Travel Group, Inc.（GBTG）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.3倍（$792.0M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs 10.5%，领先24.0%），Global Business Travel Group, Inc.同比增速更快（34.0% vs 4.8%），过去两年Global Business Travel Group, Inc.的营收复合增速更高（13.9% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
GBTG vs RPRX — 直观对比
营收规模更大
GBTG
是对方的1.3倍
$622.0M
营收增速更快
GBTG
高出29.2%
4.8%
净利率更高
RPRX
高出24.0%
10.5%
两年增速更快
GBTG
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $792.0M | $622.0M |
| 净利润 | $83.0M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 3.7% | 62.4% |
| 净利率 | 10.5% | 34.4% |
| 营收同比 | 34.0% | 4.8% |
| 净利润同比 | 692.9% | 2.9% |
| 每股收益（稀释后） | $0.16 | $0.49 |
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GBTGRPRX
| Q4 25 | $792.0M | $622.0M | ||
| Q3 25 | $674.0M | $609.3M | ||
| Q2 25 | $631.0M | $578.7M | ||
| Q1 25 | $621.0M | $568.2M | ||
| Q4 24 | $591.0M | $593.6M | ||
| Q3 24 | $597.0M | $564.7M | ||
| Q2 24 | $625.0M | $537.3M | ||
| Q1 24 | $610.0M | $568.0M |
净利润GBTGRPRX
| Q4 25 | $83.0M | $214.2M | ||
| Q3 25 | $-62.0M | $288.2M | ||
| Q2 25 | $15.0M | $30.2M | ||
| Q1 25 | $75.0M | $238.3M | ||
| Q4 24 | $-14.0M | $208.2M | ||
| Q3 24 | $-128.0M | $544.0M | ||
| Q2 24 | $27.0M | $102.0M | ||
| Q1 24 | $-19.0M | $4.8M |
营业利润率GBTGRPRX
| Q4 25 | 3.7% | 62.4% | ||
| Q3 25 | 1.8% | 70.1% | ||
| Q2 25 | 5.4% | 36.3% | ||
| Q1 25 | 8.9% | 94.0% | ||
| Q4 24 | 5.1% | 60.9% | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 6.7% | 50.2% | ||
| Q1 24 | 2.6% | -13.0% |
净利率GBTGRPRX
| Q4 25 | 10.5% | 34.4% | ||
| Q3 25 | -9.2% | 47.3% | ||
| Q2 25 | 2.4% | 5.2% | ||
| Q1 25 | 12.1% | 41.9% | ||
| Q4 24 | -2.4% | 35.1% | ||
| Q3 24 | -21.4% | 96.3% | ||
| Q2 24 | 4.3% | 19.0% | ||
| Q1 24 | -3.1% | 0.8% |
每股收益（稀释后）GBTGRPRX
| Q4 25 | $0.16 | $0.49 | ||
| Q3 25 | $-0.13 | $0.67 | ||
| Q2 25 | $0.03 | $0.07 | ||
| Q1 25 | $0.16 | $0.55 | ||
| Q4 24 | $-0.04 | $0.46 | ||
| Q3 24 | $-0.28 | $1.21 | ||
| Q2 24 | $0.06 | $0.23 | ||
| Q1 24 | $-0.04 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $1.4B | $9.0B |
| 股东权益账面价值 | $1.6B | $9.7B |
| 总资产 | $4.9B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.88× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资GBTGRPRX
| Q4 25 | $434.0M | $618.7M | ||
| Q3 25 | $427.0M | $938.9M | ||
| Q2 25 | $601.0M | $631.9M | ||
| Q1 25 | $552.0M | $1.1B | ||
| Q4 24 | $536.0M | $929.0M | ||
| Q3 24 | $524.0M | $950.1M | ||
| Q2 24 | $515.0M | $1.8B | ||
| Q1 24 | $475.0M | $843.0M |
总债务GBTGRPRX
| Q4 25 | $1.4B | $9.0B | ||
| Q3 25 | $1.4B | $8.9B | ||
| Q2 25 | $1.4B | $8.0B | ||
| Q1 25 | $1.4B | $7.6B | ||
| Q4 24 | $1.4B | $7.6B | ||
| Q3 24 | $1.4B | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | — | $6.1B |
股东权益GBTGRPRX
| Q4 25 | $1.6B | $9.7B | ||
| Q3 25 | $1.5B | $9.6B | ||
| Q2 25 | $1.2B | $9.5B | ||
| Q1 25 | $1.1B | $9.8B | ||
| Q4 24 | $1.1B | $10.3B | ||
| Q3 24 | $1.1B | $10.3B | ||
| Q2 24 | $1.2B | $9.8B | ||
| Q1 24 | $1.2B | $9.9B |
总资产GBTGRPRX
| Q4 25 | $4.9B | $19.6B | ||
| Q3 25 | $4.8B | $19.3B | ||
| Q2 25 | $3.9B | $18.3B | ||
| Q1 25 | $3.8B | $17.6B | ||
| Q4 24 | $3.6B | $18.2B | ||
| Q3 24 | $3.8B | $18.0B | ||
| Q2 24 | $3.8B | $17.7B | ||
| Q1 24 | $3.8B | $16.1B |
负债/权益比GBTGRPRX
| Q4 25 | 0.88× | 0.92× | ||
| Q3 25 | 0.91× | 0.93× | ||
| Q2 25 | 1.15× | 0.84× | ||
| Q1 25 | 1.23× | 0.78× | ||
| Q4 24 | 1.32× | 0.74× | ||
| Q3 24 | 1.26× | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| 自由现金流经营现金流 - 资本支出 | $13.0M | — |
| 自由现金流率自由现金流/营收 | 1.6% | — |
| 资本支出强度资本支出/营收 | 4.9% | — |
| 现金转化率经营现金流/净利润 | 0.63× | 3.86× |
| 过去12个月自由现金流最近4个季度 | $104.0M | — |
8季度趋势，按日历期对齐
经营现金流GBTGRPRX
| Q4 25 | $52.0M | $827.1M | ||
| Q3 25 | $71.0M | $702.6M | ||
| Q2 25 | $57.0M | $364.0M | ||
| Q1 25 | $53.0M | $596.1M | ||
| Q4 24 | $65.0M | $742.5M | ||
| Q3 24 | $85.0M | $703.6M | ||
| Q2 24 | $73.0M | $658.2M | ||
| Q1 24 | $49.0M | $664.6M |
自由现金流GBTGRPRX
| Q4 25 | $13.0M | — | ||
| Q3 25 | $38.0M | — | ||
| Q2 25 | $27.0M | — | ||
| Q1 25 | $26.0M | — | ||
| Q4 24 | $33.0M | — | ||
| Q3 24 | $59.0M | — | ||
| Q2 24 | $49.0M | — | ||
| Q1 24 | $24.0M | — |
自由现金流率GBTGRPRX
| Q4 25 | 1.6% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 7.8% | — | ||
| Q1 24 | 3.9% | — |
资本支出强度GBTGRPRX
| Q4 25 | 4.9% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | 4.1% | — |
现金转化率GBTGRPRX
| Q4 25 | 0.63× | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | 3.80× | 12.06× | ||
| Q1 25 | 0.71× | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | 2.70× | 6.45× | ||
| Q1 24 | — | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
