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凯悦酒店集团（H）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
凯悦酒店集团的季度营收约是越洋钻探的1.7倍（$1.8B vs $1.0B），越洋钻探净利率更高（2.4% vs -1.1%，领先3.5%），凯悦酒店集团同比增速更快（11.7% vs 9.6%），越洋钻探自由现金流更多（$321.0M vs $236.0M），过去两年越洋钻探的营收复合增速更高（16.9% vs 2.2%）
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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
H vs RIG — 直观对比
营收规模更大
H
是对方的1.7倍
$1.0B
营收增速更快
H
高出2.1%
9.6%
净利率更高
RIG
高出3.5%
-1.1%
自由现金流更多
RIG
多$85.0M
$236.0M
两年增速更快
RIG
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.0B |
| 净利润 | $-20.0M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | 0.4% | 23.0% |
| 净利率 | -1.1% | 2.4% |
| 营收同比 | 11.7% | 9.6% |
| 净利润同比 | 64.3% | 257.1% |
| 每股收益（稀释后） | $-0.20 | $0.13 |
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HRIG
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $1.8B | $988.0M | ||
| Q1 25 | $1.7B | $906.0M | ||
| Q4 24 | $1.6B | $952.0M | ||
| Q3 24 | $1.6B | $948.0M | ||
| Q2 24 | $1.7B | $861.0M | ||
| Q1 24 | $1.7B | $763.0M |
净利润HRIG
| Q4 25 | $-20.0M | $25.0M | ||
| Q3 25 | $-49.0M | $-1.9B | ||
| Q2 25 | $-3.0M | $-938.0M | ||
| Q1 25 | $20.0M | $-79.0M | ||
| Q4 24 | $-56.0M | $7.0M | ||
| Q3 24 | $471.0M | $-494.0M | ||
| Q2 24 | $359.0M | $-123.0M | ||
| Q1 24 | $522.0M | $98.0M |
毛利率HRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率HRIG
| Q4 25 | 0.4% | 23.0% | ||
| Q3 25 | -1.0% | -163.1% | ||
| Q2 25 | 2.1% | -97.6% | ||
| Q1 25 | 3.0% | 7.1% | ||
| Q4 24 | -3.0% | 13.7% | ||
| Q3 24 | 37.3% | -51.2% | ||
| Q2 24 | 27.1% | -6.9% | ||
| Q1 24 | 31.6% | -0.4% |
净利率HRIG
| Q4 25 | -1.1% | 2.4% | ||
| Q3 25 | -2.7% | -187.1% | ||
| Q2 25 | -0.2% | -94.9% | ||
| Q1 25 | 1.2% | -8.7% | ||
| Q4 24 | -3.5% | 0.7% | ||
| Q3 24 | 28.9% | -52.1% | ||
| Q2 24 | 21.1% | -14.3% | ||
| Q1 24 | 30.5% | 12.8% |
每股收益（稀释后）HRIG
| Q4 25 | $-0.20 | $0.13 | ||
| Q3 25 | $-0.51 | $-2.00 | ||
| Q2 25 | $-0.03 | $-1.06 | ||
| Q1 25 | $0.19 | $-0.11 | ||
| Q4 24 | $-0.37 | $-0.14 | ||
| Q3 24 | $4.63 | $-0.58 | ||
| Q2 24 | $3.46 | $-0.15 | ||
| Q1 24 | $4.93 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | — | $5.2B |
| 股东权益账面价值 | $3.3B | $8.1B |
| 总资产 | $14.0B | $15.6B |
| 负债/权益比越低杠杆越低 | — | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资HRIG
| Q4 25 | $813.0M | $620.0M | ||
| Q3 25 | $749.0M | $833.0M | ||
| Q2 25 | $912.0M | $377.0M | ||
| Q1 25 | $1.8B | $263.0M | ||
| Q4 24 | $1.4B | $560.0M | ||
| Q3 24 | $1.1B | $435.0M | ||
| Q2 24 | $2.0B | $475.0M | ||
| Q1 24 | $794.0M | $446.0M |
总债务HRIG
| Q4 25 | — | $5.2B | ||
| Q3 25 | $6.0B | $4.8B | ||
| Q2 25 | $6.0B | $5.9B | ||
| Q1 25 | $4.3B | $5.9B | ||
| Q4 24 | $3.8B | $6.2B | ||
| Q3 24 | $3.1B | $6.5B | ||
| Q2 24 | $3.9B | $6.8B | ||
| Q1 24 | $3.1B | $6.8B |
股东权益HRIG
| Q4 25 | $3.3B | $8.1B | ||
| Q3 25 | $3.5B | $8.1B | ||
| Q2 25 | $3.6B | $9.4B | ||
| Q1 25 | $3.5B | $10.2B | ||
| Q4 24 | $3.5B | $10.3B | ||
| Q3 24 | $3.7B | $10.2B | ||
| Q2 24 | $3.9B | $10.7B | ||
| Q1 24 | $3.7B | $10.5B |
总资产HRIG
| Q4 25 | $14.0B | $15.6B | ||
| Q3 25 | $15.7B | $16.2B | ||
| Q2 25 | $15.9B | $17.8B | ||
| Q1 25 | $14.0B | $19.0B | ||
| Q4 24 | $13.3B | $19.4B | ||
| Q3 24 | $11.9B | $19.5B | ||
| Q2 24 | $12.8B | $20.3B | ||
| Q1 24 | $11.7B | $19.9B |
负债/权益比HRIG
| Q4 25 | — | 0.64× | ||
| Q3 25 | 1.73× | 0.60× | ||
| Q2 25 | 1.69× | 0.63× | ||
| Q1 25 | 1.25× | 0.58× | ||
| Q4 24 | 1.07× | 0.60× | ||
| Q3 24 | 0.85× | 0.64× | ||
| Q2 24 | 1.01× | 0.63× | ||
| Q1 24 | 0.84× | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $236.0M | $321.0M |
| 自由现金流率自由现金流/营收 | 13.2% | 30.8% |
| 资本支出强度资本支出/营收 | 4.3% | 2.7% |
| 现金转化率经营现金流/净利润 | — | 13.96× |
| 过去12个月自由现金流最近4个季度 | $159.0M | $626.0M |
8季度趋势，按日历期对齐
经营现金流HRIG
| Q4 25 | $313.0M | $349.0M | ||
| Q3 25 | $-20.0M | $246.0M | ||
| Q2 25 | $-67.0M | $128.0M | ||
| Q1 25 | $153.0M | $26.0M | ||
| Q4 24 | $235.0M | $206.0M | ||
| Q3 24 | $-21.0M | $194.0M | ||
| Q2 24 | $177.0M | $133.0M | ||
| Q1 24 | $242.0M | $-86.0M |
自由现金流HRIG
| Q4 25 | $236.0M | $321.0M | ||
| Q3 25 | $-89.0M | $235.0M | ||
| Q2 25 | $-111.0M | $104.0M | ||
| Q1 25 | $123.0M | $-34.0M | ||
| Q4 24 | $184.0M | $177.0M | ||
| Q3 24 | $-64.0M | $136.0M | ||
| Q2 24 | $135.0M | $49.0M | ||
| Q1 24 | $208.0M | $-169.0M |
自由现金流率HRIG
| Q4 25 | 13.2% | 30.8% | ||
| Q3 25 | -5.0% | 22.9% | ||
| Q2 25 | -6.1% | 10.5% | ||
| Q1 25 | 7.2% | -3.8% | ||
| Q4 24 | 11.5% | 18.6% | ||
| Q3 24 | -3.9% | 14.3% | ||
| Q2 24 | 7.9% | 5.7% | ||
| Q1 24 | 12.1% | -22.1% |
资本支出强度HRIG
| Q4 25 | 4.3% | 2.7% | ||
| Q3 25 | 3.9% | 1.1% | ||
| Q2 25 | 2.4% | 2.4% | ||
| Q1 25 | 1.7% | 6.6% | ||
| Q4 24 | 3.2% | 3.0% | ||
| Q3 24 | 2.6% | 6.1% | ||
| Q2 24 | 2.5% | 9.8% | ||
| Q1 24 | 2.0% | 10.9% |
现金转化率HRIG
| Q4 25 | — | 13.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.65× | — | ||
| Q4 24 | — | 29.43× | ||
| Q3 24 | -0.04× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.46× | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
