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艾玛迪斯（GDS）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是艾玛迪斯的1.6倍（$664.6M vs $405.6M），Ryman Hospitality Properties, Inc.净利率更高（10.4% vs -0.1%，领先10.5%）
西班牙跨国科技企业艾玛迪斯是全球领先的旅游技术服务商，面向航空、酒店、旅行社等各类旅游相关企业提供定制化软件解决方案，业务覆盖全球市场，助力旅游行业客户优化运营效率、提升服务体验。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
GDS vs RHP — 直观对比
营收规模更大
RHP
是对方的1.6倍
$405.6M
净利率更高
RHP
高出10.5%
-0.1%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $405.6M | $664.6M |
| 净利润 | $-373.0K | $69.4M |
| 毛利率 | 22.1% | — |
| 营业利润率 | — | 20.7% |
| 净利率 | -0.1% | 10.4% |
| 营收同比 | — | 13.2% |
| 净利润同比 | — | 10.1% |
| 每股收益（稀释后） | — | $1.03 |
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GDSRHP
| Q1 26 | — | $664.6M | ||
| Q4 25 | — | $737.8M | ||
| Q3 25 | $405.6M | $592.5M | ||
| Q2 25 | $404.9M | $659.5M | ||
| Q1 25 | $375.3M | $587.3M | ||
| Q4 24 | — | $647.6M | ||
| Q3 24 | $422.6M | $550.0M | ||
| Q2 24 | $388.9M | $613.3M |
净利润GDSRHP
| Q1 26 | — | $69.4M | ||
| Q4 25 | — | $74.5M | ||
| Q3 25 | $-373.0K | $34.9M | ||
| Q2 25 | $-240.0K | $71.8M | ||
| Q1 25 | $-145.0K | $63.0M | ||
| Q4 24 | — | $72.3M | ||
| Q3 24 | $-32.9M | $59.0M | ||
| Q2 24 | $-31.9M | $100.8M |
毛利率GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | 22.1% | 40.9% | ||
| Q2 25 | 23.8% | 49.7% | ||
| Q1 25 | 23.7% | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | 22.2% | 43.1% | ||
| Q2 24 | 22.6% | 48.4% |
营业利润率GDSRHP
| Q1 26 | — | 20.7% | ||
| Q4 25 | — | 19.4% | ||
| Q3 25 | — | 15.0% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 19.8% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | 10.8% | 19.3% | ||
| Q2 24 | 11.2% | 27.4% |
净利率GDSRHP
| Q1 26 | — | 10.4% | ||
| Q4 25 | — | 10.1% | ||
| Q3 25 | -0.1% | 5.9% | ||
| Q2 25 | -0.1% | 10.9% | ||
| Q1 25 | -0.0% | 10.7% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | -7.8% | 10.7% | ||
| Q2 24 | -8.2% | 16.4% |
每股收益（稀释后）GDSRHP
| Q1 26 | — | $1.03 | ||
| Q4 25 | — | $1.12 | ||
| Q3 25 | — | $0.53 | ||
| Q2 25 | — | $1.12 | ||
| Q1 25 | — | $1.00 | ||
| Q4 24 | — | $1.12 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | $1.65 |
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 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.6B | $770.8M |
| 总资产 | $11.0B | $6.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | $471.4M | ||
| Q3 25 | — | $483.3M | ||
| Q2 25 | — | $420.6M | ||
| Q1 25 | — | $413.9M | ||
| Q4 24 | — | $477.7M | ||
| Q3 24 | — | $534.9M | ||
| Q2 24 | — | $498.4M |
股东权益GDSRHP
| Q1 26 | — | $770.8M | ||
| Q4 25 | — | $750.2M | ||
| Q3 25 | $3.6B | $758.5M | ||
| Q2 25 | $3.4B | $800.4M | ||
| Q1 25 | $3.2B | $531.5M | ||
| Q4 24 | — | $549.0M | ||
| Q3 24 | $2.7B | $551.9M | ||
| Q2 24 | $2.6B | $562.6M |
总资产GDSRHP
| Q1 26 | — | $6.2B | ||
| Q4 25 | — | $6.2B | ||
| Q3 25 | $11.0B | $6.2B | ||
| Q2 25 | $11.1B | $6.1B | ||
| Q1 25 | $10.1B | $5.2B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $11.7B | $5.2B | ||
| Q2 24 | $10.9B | $5.1B |
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 | $103.5M | — |
| 自由现金流经营现金流 - 资本支出 | $-96.3M | — |
| 自由现金流率自由现金流/营收 | -23.7% | — |
| 资本支出强度资本支出/营收 | 49.2% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | $164.7M | ||
| Q3 25 | $103.5M | $205.2M | ||
| Q2 25 | $120.8M | $122.5M | ||
| Q1 25 | — | $98.2M | ||
| Q4 24 | — | $166.6M | ||
| Q3 24 | $91.4M | $218.1M | ||
| Q2 24 | — | $184.3M |
自由现金流GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | $58.5M | ||
| Q3 25 | $-96.3M | $135.4M | ||
| Q2 25 | $-55.8M | $53.0M | ||
| Q1 25 | — | $-14.5M | ||
| Q4 24 | — | $76.0M | ||
| Q3 24 | $-321.7M | $85.7M | ||
| Q2 24 | — | $78.8M |
自由现金流率GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | -23.7% | 22.9% | ||
| Q2 25 | -13.8% | 8.0% | ||
| Q1 25 | — | -2.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | -76.1% | 15.6% | ||
| Q2 24 | — | 12.9% |
资本支出强度GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 14.4% | ||
| Q3 25 | 49.2% | 11.8% | ||
| Q2 25 | 43.6% | 10.5% | ||
| Q1 25 | — | 19.2% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | 97.7% | 24.1% | ||
| Q2 24 | — | 17.2% |
现金转化率GDSRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | — | 1.83× |
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
GDS
| Service revenue | $405.5M | 100% |
| Equipment sales | $2.8M | 1% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
