vs
Global Business Travel Group, Inc.（GBTG）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是Global Business Travel Group, Inc.的1.0倍（$814.9M vs $792.0M），Ubiquiti Inc.净利率更高（28.7% vs 10.5%，领先18.2%），Ubiquiti Inc.同比增速更快（35.8% vs 34.0%），Ubiquiti Inc.自由现金流更多（$260.3M vs $13.0M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 13.9%）
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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
GBTG vs UI — 直观对比
营收规模更大
UI
是对方的1.0倍
$792.0M
营收增速更快
UI
高出1.8%
34.0%
净利率更高
UI
高出18.2%
10.5%
自由现金流更多
UI
多$247.3M
$13.0M
两年增速更快
UI
近两年复合增速
13.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $792.0M | $814.9M |
| 净利润 | $83.0M | $233.6M |
| 毛利率 | — | 45.9% |
| 营业利润率 | 3.7% | 35.9% |
| 净利率 | 10.5% | 28.7% |
| 营收同比 | 34.0% | 35.8% |
| 净利润同比 | 692.9% | 70.8% |
| 每股收益（稀释后） | $0.16 | $3.86 |
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GBTGUI
| Q4 25 | $792.0M | $814.9M | ||
| Q3 25 | $674.0M | $733.8M | ||
| Q2 25 | $631.0M | $759.2M | ||
| Q1 25 | $621.0M | $664.2M | ||
| Q4 24 | $591.0M | $599.9M | ||
| Q3 24 | $597.0M | $550.3M | ||
| Q2 24 | $625.0M | $507.5M | ||
| Q1 24 | $610.0M | $493.0M |
净利润GBTGUI
| Q4 25 | $83.0M | $233.6M | ||
| Q3 25 | $-62.0M | $207.9M | ||
| Q2 25 | $15.0M | $266.7M | ||
| Q1 25 | $75.0M | $180.4M | ||
| Q4 24 | $-14.0M | $136.8M | ||
| Q3 24 | $-128.0M | $128.0M | ||
| Q2 24 | $27.0M | $103.8M | ||
| Q1 24 | $-19.0M | $76.3M |
毛利率GBTGUI
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 46.0% | ||
| Q2 25 | — | 45.1% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 41.2% | ||
| Q3 24 | — | 42.1% | ||
| Q2 24 | — | 40.2% | ||
| Q1 24 | — | 35.3% |
营业利润率GBTGUI
| Q4 25 | 3.7% | 35.9% | ||
| Q3 25 | 1.8% | 35.7% | ||
| Q2 25 | 5.4% | 34.4% | ||
| Q1 25 | 8.9% | 34.2% | ||
| Q4 24 | 5.1% | 29.8% | ||
| Q3 24 | 4.5% | 30.7% | ||
| Q2 24 | 6.7% | 27.3% | ||
| Q1 24 | 2.6% | 22.6% |
净利率GBTGUI
| Q4 25 | 10.5% | 28.7% | ||
| Q3 25 | -9.2% | 28.3% | ||
| Q2 25 | 2.4% | 35.1% | ||
| Q1 25 | 12.1% | 27.2% | ||
| Q4 24 | -2.4% | 22.8% | ||
| Q3 24 | -21.4% | 23.3% | ||
| Q2 24 | 4.3% | 20.5% | ||
| Q1 24 | -3.1% | 15.5% |
每股收益（稀释后）GBTGUI
| Q4 25 | $0.16 | $3.86 | ||
| Q3 25 | $-0.13 | $3.43 | ||
| Q2 25 | $0.03 | $4.40 | ||
| Q1 25 | $0.16 | $2.98 | ||
| Q4 24 | $-0.04 | $2.26 | ||
| Q3 24 | $-0.28 | $2.12 | ||
| Q2 24 | $0.06 | $1.72 | ||
| Q1 24 | $-0.04 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | $1.4B | $47.5M |
| 股东权益账面价值 | $1.6B | $1.0B |
| 总资产 | $4.9B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.88× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资GBTGUI
| Q4 25 | $434.0M | $302.8M | ||
| Q3 25 | $427.0M | $177.2M | ||
| Q2 25 | $601.0M | $149.7M | ||
| Q1 25 | $552.0M | $151.0M | ||
| Q4 24 | $536.0M | $133.1M | ||
| Q3 24 | $524.0M | $165.2M | ||
| Q2 24 | $515.0M | $126.3M | ||
| Q1 24 | $475.0M | $102.5M |
总债务GBTGUI
| Q4 25 | $1.4B | $47.5M | ||
| Q3 25 | $1.4B | $133.8M | ||
| Q2 25 | $1.4B | $250.0M | ||
| Q1 25 | $1.4B | $340.0M | ||
| Q4 24 | $1.4B | $406.3M | ||
| Q3 24 | $1.4B | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益GBTGUI
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.5B | $828.4M | ||
| Q2 25 | $1.2B | $668.3M | ||
| Q1 25 | $1.1B | $436.1M | ||
| Q4 24 | $1.1B | $290.4M | ||
| Q3 24 | $1.1B | $188.1M | ||
| Q2 24 | $1.2B | $95.1M | ||
| Q1 24 | $1.2B | $25.9M |
总资产GBTGUI
| Q4 25 | $4.9B | $1.6B | ||
| Q3 25 | $4.8B | $1.5B | ||
| Q2 25 | $3.9B | $1.5B | ||
| Q1 25 | $3.8B | $1.3B | ||
| Q4 24 | $3.6B | $1.2B | ||
| Q3 24 | $3.8B | $1.2B | ||
| Q2 24 | $3.8B | $1.2B | ||
| Q1 24 | $3.8B | $1.2B |
负债/权益比GBTGUI
| Q4 25 | 0.88× | 0.05× | ||
| Q3 25 | 0.91× | 0.16× | ||
| Q2 25 | 1.15× | 0.37× | ||
| Q1 25 | 1.23× | 0.78× | ||
| Q4 24 | 1.32× | 1.40× | ||
| Q3 24 | 1.26× | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $13.0M | $260.3M |
| 自由现金流率自由现金流/营收 | 1.6% | 31.9% |
| 资本支出强度资本支出/营收 | 4.9% | 0.4% |
| 现金转化率经营现金流/净利润 | 0.63× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $104.0M | $699.5M |
8季度趋势，按日历期对齐
经营现金流GBTGUI
| Q4 25 | $52.0M | $263.9M | ||
| Q3 25 | $71.0M | $198.5M | ||
| Q2 25 | $57.0M | $130.4M | ||
| Q1 25 | $53.0M | $123.6M | ||
| Q4 24 | $65.0M | $152.4M | ||
| Q3 24 | $85.0M | $233.7M | ||
| Q2 24 | $73.0M | $231.4M | ||
| Q1 24 | $49.0M | $163.9M |
自由现金流GBTGUI
| Q4 25 | $13.0M | $260.3M | ||
| Q3 25 | $38.0M | $193.3M | ||
| Q2 25 | $27.0M | $125.2M | ||
| Q1 25 | $26.0M | $120.7M | ||
| Q4 24 | $33.0M | $150.4M | ||
| Q3 24 | $59.0M | $231.1M | ||
| Q2 24 | $49.0M | $229.5M | ||
| Q1 24 | $24.0M | $160.6M |
自由现金流率GBTGUI
| Q4 25 | 1.6% | 31.9% | ||
| Q3 25 | 5.6% | 26.3% | ||
| Q2 25 | 4.3% | 16.5% | ||
| Q1 25 | 4.2% | 18.2% | ||
| Q4 24 | 5.6% | 25.1% | ||
| Q3 24 | 9.9% | 42.0% | ||
| Q2 24 | 7.8% | 45.2% | ||
| Q1 24 | 3.9% | 32.6% |
资本支出强度GBTGUI
| Q4 25 | 4.9% | 0.4% | ||
| Q3 25 | 4.9% | 0.7% | ||
| Q2 25 | 4.8% | 0.7% | ||
| Q1 25 | 4.3% | 0.4% | ||
| Q4 24 | 5.4% | 0.3% | ||
| Q3 24 | 4.4% | 0.5% | ||
| Q2 24 | 3.8% | 0.4% | ||
| Q1 24 | 4.1% | 0.7% |
现金转化率GBTGUI
| Q4 25 | 0.63× | 1.13× | ||
| Q3 25 | — | 0.95× | ||
| Q2 25 | 3.80× | 0.49× | ||
| Q1 25 | 0.71× | 0.68× | ||
| Q4 24 | — | 1.11× | ||
| Q3 24 | — | 1.83× | ||
| Q2 24 | 2.70× | 2.23× | ||
| Q1 24 | — | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
