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凯悦酒店集团（H）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
Rocket Companies, Inc.的季度营收约是凯悦酒店集团的1.5倍（$2.7B vs $1.8B），Rocket Companies, Inc.净利率更高（2.5% vs -1.1%，领先3.6%），Rocket Companies, Inc.同比增速更快（52.2% vs 11.7%），凯悦酒店集团自由现金流更多（$236.0M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% 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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
H vs RKT — 直观对比
营收规模更大
RKT
是对方的1.5倍
$1.8B
营收增速更快
RKT
高出40.5%
11.7%
净利率更高
RKT
高出3.6%
-1.1%
自由现金流更多
H
多$1.5B
$-1.3B
两年增速更快
RKT
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.7B |
| 净利润 | $-20.0M | $68.0M |
| 毛利率 | — | — |
| 营业利润率 | 0.4% | 6.3% |
| 净利率 | -1.1% | 2.5% |
| 营收同比 | 11.7% | 52.2% |
| 净利润同比 | 64.3% | 100.8% |
| 每股收益（稀释后） | $-0.20 | $0.10 |
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HRKT
| Q4 25 | $1.8B | $2.7B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.6B | $646.9M | ||
| Q2 24 | $1.7B | $1.3B | ||
| Q1 24 | $1.7B | $1.4B |
净利润HRKT
| Q4 25 | $-20.0M | $68.0M | ||
| Q3 25 | $-49.0M | $-123.9M | ||
| Q2 25 | $-3.0M | $-1.8M | ||
| Q1 25 | $20.0M | $-10.4M | ||
| Q4 24 | $-56.0M | $33.9M | ||
| Q3 24 | $471.0M | $-22.0M | ||
| Q2 24 | $359.0M | $1.3M | ||
| Q1 24 | $522.0M | $16.2M |
毛利率HRKT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 58.9% | ||
| Q3 24 | — | -8.4% | ||
| Q2 24 | — | 47.4% | ||
| Q1 24 | — | 51.2% |
营业利润率HRKT
| Q4 25 | 0.4% | 6.3% | ||
| Q3 25 | -1.0% | -11.5% | ||
| Q2 25 | 2.1% | 1.8% | ||
| Q1 25 | 3.0% | -21.5% | ||
| Q4 24 | -3.0% | 38.1% | ||
| Q3 24 | 37.3% | -76.9% | ||
| Q2 24 | 27.1% | 14.8% | ||
| Q1 24 | 31.6% | 21.6% |
净利率HRKT
| Q4 25 | -1.1% | 2.5% | ||
| Q3 25 | -2.7% | -7.7% | ||
| Q2 25 | -0.2% | -0.1% | ||
| Q1 25 | 1.2% | -1.0% | ||
| Q4 24 | -3.5% | 1.9% | ||
| Q3 24 | 28.9% | -3.4% | ||
| Q2 24 | 21.1% | 0.1% | ||
| Q1 24 | 30.5% | 1.2% |
每股收益（稀释后）HRKT
| Q4 25 | $-0.20 | $0.10 | ||
| Q3 25 | $-0.51 | $-0.06 | ||
| Q2 25 | $-0.03 | $-0.01 | ||
| Q1 25 | $0.19 | $-0.08 | ||
| Q4 24 | $-0.37 | $0.28 | ||
| Q3 24 | $4.63 | $-0.19 | ||
| Q2 24 | $3.46 | $0.01 | ||
| 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 | $2.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.3B | $22.9B |
| 总资产 | $14.0B | $60.7B |
| 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HRKT
| Q4 25 | $813.0M | $2.7B | ||
| Q3 25 | $749.0M | $5.8B | ||
| Q2 25 | $912.0M | $5.1B | ||
| Q1 25 | $1.8B | $1.4B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $794.0M | $861.4M |
总债务HRKT
| Q4 25 | — | — | ||
| Q3 25 | $6.0B | — | ||
| Q2 25 | $6.0B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.9B | — | ||
| Q1 24 | $3.1B | — |
股东权益HRKT
| Q4 25 | $3.3B | $22.9B | ||
| Q3 25 | $3.5B | $8.9B | ||
| Q2 25 | $3.6B | $7.4B | ||
| Q1 25 | $3.5B | $8.6B | ||
| Q4 24 | $3.5B | $9.0B | ||
| Q3 24 | $3.7B | $8.4B | ||
| Q2 24 | $3.9B | $8.8B | ||
| Q1 24 | $3.7B | $8.6B |
总资产HRKT
| Q4 25 | $14.0B | $60.7B | ||
| Q3 25 | $15.7B | $33.6B | ||
| Q2 25 | $15.9B | $30.4B | ||
| Q1 25 | $14.0B | $25.3B | ||
| Q4 24 | $13.3B | $24.5B | ||
| Q3 24 | $11.9B | $25.1B | ||
| Q2 24 | $12.8B | $23.6B | ||
| Q1 24 | $11.7B | $22.2B |
负债/权益比HRKT
| 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× | — | ||
| Q1 24 | 0.84× | — |
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 | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $236.0M | $-1.3B |
| 自由现金流率自由现金流/营收 | 13.2% | -47.2% |
| 资本支出强度资本支出/营收 | 4.3% | 1.5% |
| 现金转化率经营现金流/净利润 | — | -18.08× |
| 过去12个月自由现金流最近4个季度 | $159.0M | $-4.0B |
8季度趋势，按日历期对齐
经营现金流HRKT
| Q4 25 | $313.0M | $-1.2B | ||
| Q3 25 | $-20.0M | $-50.3M | ||
| Q2 25 | $-67.0M | $-1.9B | ||
| Q1 25 | $153.0M | $-797.0M | ||
| Q4 24 | $235.0M | $1.8B | ||
| Q3 24 | $-21.0M | $-1.3B | ||
| Q2 24 | $177.0M | $-122.3M | ||
| Q1 24 | $242.0M | $-3.0B |
自由现金流HRKT
| Q4 25 | $236.0M | $-1.3B | ||
| Q3 25 | $-89.0M | $-71.8M | ||
| Q2 25 | $-111.0M | $-1.9B | ||
| Q1 25 | $123.0M | $-811.0M | ||
| Q4 24 | $184.0M | $1.8B | ||
| Q3 24 | $-64.0M | $-1.4B | ||
| Q2 24 | $135.0M | $-138.3M | ||
| Q1 24 | $208.0M | $-3.0B |
自由现金流率HRKT
| Q4 25 | 13.2% | -47.2% | ||
| Q3 25 | -5.0% | -4.5% | ||
| Q2 25 | -6.1% | -137.2% | ||
| Q1 25 | 7.2% | -78.2% | ||
| Q4 24 | 11.5% | 103.1% | ||
| Q3 24 | -3.9% | -209.6% | ||
| Q2 24 | 7.9% | -10.6% | ||
| Q1 24 | 12.1% | -218.7% |
资本支出强度HRKT
| Q4 25 | 4.3% | 1.5% | ||
| Q3 25 | 3.9% | 1.3% | ||
| Q2 25 | 2.4% | 1.1% | ||
| Q1 25 | 1.7% | 1.4% | ||
| Q4 24 | 3.2% | 1.1% | ||
| Q3 24 | 2.6% | 2.9% | ||
| Q2 24 | 2.5% | 1.2% | ||
| Q1 24 | 2.0% | 1.0% |
现金转化率HRKT
| Q4 25 | — | -18.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.65× | — | ||
| Q4 24 | — | 54.42× | ||
| Q3 24 | -0.04× | — | ||
| Q2 24 | 0.49× | -94.46× | ||
| Q1 24 | 0.46× | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
