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凯悦酒店集团（H）与Masco（MAS）财务数据对比。点击上方公司名可切换其他公司
Masco的季度营收约是凯悦酒店集团的1.1倍（$1.9B vs $1.8B），Masco净利率更高（11.9% vs -1.1%，领先13.0%），凯悦酒店集团同比增速更快（11.7% vs 6.5%），过去两年凯悦酒店集团的营收复合增速更高（2.2% vs -4.2%）
凯悦酒店集团是来自美国的跨国酒店管理企业，总部位于芝加哥河畔广场区域，由普利兹克家族运营管理。集团主营高端及商务酒店、度假村、度假物业的管理与特许经营业务，目前在全球69个国家拥有逾1350家酒店及一价全包物业，覆盖六大洲。
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
H vs MAS — 直观对比
营收规模更大
MAS
是对方的1.1倍
$1.8B
营收增速更快
H
高出5.2%
6.5%
净利率更高
MAS
高出13.0%
-1.1%
两年增速更快
H
近两年复合增速
-4.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.9B |
| 净利润 | $-20.0M | $228.0M |
| 毛利率 | — | 35.8% |
| 营业利润率 | 0.4% | 16.5% |
| 净利率 | -1.1% | 11.9% |
| 营收同比 | 11.7% | 6.5% |
| 净利润同比 | 64.3% | 14.5% |
| 每股收益（稀释后） | $-0.20 | — |
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HMAS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $1.8B | $1.9B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.7B | $1.8B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.6B | $2.0B | ||
| Q2 24 | $1.7B | $2.1B |
净利润HMAS
| Q1 26 | — | $228.0M | ||
| Q4 25 | $-20.0M | $165.0M | ||
| Q3 25 | $-49.0M | $189.0M | ||
| Q2 25 | $-3.0M | $270.0M | ||
| Q1 25 | $20.0M | $186.0M | ||
| Q4 24 | $-56.0M | $182.0M | ||
| Q3 24 | $471.0M | $167.0M | ||
| Q2 24 | $359.0M | $258.0M |
毛利率HMAS
| Q1 26 | — | 35.8% | ||
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 37.6% | ||
| Q1 25 | — | 35.8% | ||
| Q4 24 | — | 34.8% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 37.5% |
营业利润率HMAS
| Q1 26 | — | 16.5% | ||
| Q4 25 | 0.4% | 13.8% | ||
| Q3 25 | -1.0% | 15.8% | ||
| Q2 25 | 2.1% | 20.1% | ||
| Q1 25 | 3.0% | 15.9% | ||
| Q4 24 | -3.0% | 15.9% | ||
| Q3 24 | 37.3% | 18.0% | ||
| Q2 24 | 27.1% | 19.0% |
净利率HMAS
| Q1 26 | — | 11.9% | ||
| Q4 25 | -1.1% | 9.2% | ||
| Q3 25 | -2.7% | 9.9% | ||
| Q2 25 | -0.2% | 13.2% | ||
| Q1 25 | 1.2% | 10.3% | ||
| Q4 24 | -3.5% | 10.0% | ||
| Q3 24 | 28.9% | 8.4% | ||
| Q2 24 | 21.1% | 12.3% |
每股收益（稀释后）HMAS
| Q1 26 | — | — | ||
| Q4 25 | $-0.20 | $0.81 | ||
| Q3 25 | $-0.51 | $0.90 | ||
| Q2 25 | $-0.03 | $1.28 | ||
| Q1 25 | $0.19 | $0.87 | ||
| Q4 24 | $-0.37 | $0.85 | ||
| Q3 24 | $4.63 | $0.77 | ||
| Q2 24 | $3.46 | $1.17 |
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 | $813.0M | — |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $3.3B | $27.0M |
| 总资产 | $14.0B | $5.2B |
| 负债/权益比越低杠杆越低 | — | 109.07× |
8季度趋势，按日历期对齐
现金及短期投资HMAS
| Q1 26 | — | — | ||
| Q4 25 | $813.0M | $647.0M | ||
| Q3 25 | $749.0M | $559.0M | ||
| Q2 25 | $912.0M | $390.0M | ||
| Q1 25 | $1.8B | $377.0M | ||
| Q4 24 | $1.4B | $634.0M | ||
| Q3 24 | $1.1B | $646.0M | ||
| Q2 24 | $2.0B | $398.0M |
总债务HMAS
| Q1 26 | — | $2.9B | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | $6.0B | — | ||
| Q2 25 | $6.0B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $3.8B | $2.9B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.9B | — |
股东权益HMAS
| Q1 26 | — | $27.0M | ||
| Q4 25 | $3.3B | $-185.0M | ||
| Q3 25 | $3.5B | $-78.0M | ||
| Q2 25 | $3.6B | $-84.0M | ||
| Q1 25 | $3.5B | $-254.0M | ||
| Q4 24 | $3.5B | $-279.0M | ||
| Q3 24 | $3.7B | $-88.0M | ||
| Q2 24 | $3.9B | $-26.0M |
总资产HMAS
| Q1 26 | — | $5.2B | ||
| Q4 25 | $14.0B | $5.2B | ||
| Q3 25 | $15.7B | $5.3B | ||
| Q2 25 | $15.9B | $5.3B | ||
| Q1 25 | $14.0B | $5.1B | ||
| Q4 24 | $13.3B | $5.0B | ||
| Q3 24 | $11.9B | $5.3B | ||
| Q2 24 | $12.8B | $5.4B |
负债/权益比HMAS
| Q1 26 | — | 109.07× | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.73× | — | ||
| Q2 25 | 1.69× | — | ||
| Q1 25 | 1.25× | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 0.85× | — | ||
| Q2 24 | 1.01× | — |
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 | $313.0M | — |
| 自由现金流经营现金流 - 资本支出 | $236.0M | — |
| 自由现金流率自由现金流/营收 | 13.2% | — |
| 资本支出强度资本支出/营收 | 4.3% | 1.8% |
| 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 | $159.0M | — |
8季度趋势，按日历期对齐
经营现金流HMAS
| Q1 26 | — | — | ||
| Q4 25 | $313.0M | $418.0M | ||
| Q3 25 | $-20.0M | $456.0M | ||
| Q2 25 | $-67.0M | $306.0M | ||
| Q1 25 | $153.0M | $-158.0M | ||
| Q4 24 | $235.0M | $407.0M | ||
| Q3 24 | $-21.0M | $416.0M | ||
| Q2 24 | $177.0M | $346.0M |
自由现金流HMAS
| Q1 26 | — | — | ||
| Q4 25 | $236.0M | $371.0M | ||
| Q3 25 | $-89.0M | $415.0M | ||
| Q2 25 | $-111.0M | $270.0M | ||
| Q1 25 | $123.0M | $-190.0M | ||
| Q4 24 | $184.0M | $351.0M | ||
| Q3 24 | $-64.0M | $378.0M | ||
| Q2 24 | $135.0M | $303.0M |
自由现金流率HMAS
| Q1 26 | — | — | ||
| Q4 25 | 13.2% | 20.7% | ||
| Q3 25 | -5.0% | 21.6% | ||
| Q2 25 | -6.1% | 13.2% | ||
| Q1 25 | 7.2% | -10.5% | ||
| Q4 24 | 11.5% | 19.2% | ||
| Q3 24 | -3.9% | 19.1% | ||
| Q2 24 | 7.9% | 14.5% |
资本支出强度HMAS
| Q1 26 | — | 1.8% | ||
| Q4 25 | 4.3% | 2.6% | ||
| Q3 25 | 3.9% | 2.1% | ||
| Q2 25 | 2.4% | 1.8% | ||
| Q1 25 | 1.7% | 1.8% | ||
| Q4 24 | 3.2% | 3.1% | ||
| Q3 24 | 2.6% | 1.9% | ||
| Q2 24 | 2.5% | 2.1% |
现金转化率HMAS
| Q1 26 | — | — | ||
| Q4 25 | — | 2.53× | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | 1.13× | ||
| Q1 25 | 7.65× | -0.85× | ||
| Q4 24 | — | 2.24× | ||
| Q3 24 | -0.04× | 2.49× | ||
| Q2 24 | 0.49× | 1.34× |
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
H
| Other | $627.0M | 35% |
| Rooms Revenue | $326.0M | 18% |
| Net Fees | $290.0M | 16% |
| Distribution Segment | $177.0M | 10% |
| Franchise And Other Fees | $114.0M | 6% |
| Base Management Fees | $112.0M | 6% |
| Incentive Management Fees | $81.0M | 5% |
| Other Owned And Leased Hotel Revenue | $41.0M | 2% |
| Contra Revenue | $17.0M | 1% |
| Other Revenues | $4.0M | 0% |
MAS
暂无分部数据
