vs
凯悦酒店集团（H）与RPM INTERNATIONAL INC（RPM）财务数据对比。点击上方公司名可切换其他公司
RPM INTERNATIONAL INC的季度营收约是凯悦酒店集团的1.1倍（$1.9B vs $1.8B），RPM INTERNATIONAL INC净利率更高（8.4% vs -1.1%，领先9.6%），凯悦酒店集团同比增速更快（11.7% vs 3.5%），RPM INTERNATIONAL INC自由现金流更多（$296.4M vs $236.0M），过去两年RPM INTERNATIONAL INC的营收复合增速更高（12.0% 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。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
H vs RPM — 直观对比
营收规模更大
RPM
是对方的1.1倍
$1.8B
营收增速更快
H
高出8.2%
3.5%
净利率更高
RPM
高出9.6%
-1.1%
自由现金流更多
RPM
多$60.4M
$236.0M
两年增速更快
RPM
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.9B |
| 净利润 | $-20.0M | $161.2M |
| 毛利率 | — | 40.8% |
| 营业利润率 | 0.4% | 11.0% |
| 净利率 | -1.1% | 8.4% |
| 营收同比 | 11.7% | 3.5% |
| 净利润同比 | 64.3% | -12.0% |
| 每股收益（稀释后） | $-0.20 | $1.26 |
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HRPM
| Q4 25 | $1.8B | $1.9B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.6B | $2.0B | ||
| Q2 24 | $1.7B | $2.0B | ||
| Q1 24 | $1.7B | $1.5B |
净利润HRPM
| Q4 25 | $-20.0M | $161.2M | ||
| Q3 25 | $-49.0M | $227.6M | ||
| Q2 25 | $-3.0M | $225.8M | ||
| Q1 25 | $20.0M | $52.0M | ||
| Q4 24 | $-56.0M | $183.2M | ||
| Q3 24 | $471.0M | $227.7M | ||
| Q2 24 | $359.0M | $180.6M | ||
| Q1 24 | $522.0M | $61.2M |
毛利率HRPM
| Q4 25 | — | 40.8% | ||
| Q3 25 | — | 42.3% | ||
| Q2 25 | — | 42.4% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 42.5% | ||
| Q2 24 | — | 41.4% | ||
| Q1 24 | — | 39.9% |
营业利润率HRPM
| Q4 25 | 0.4% | 11.0% | ||
| Q3 25 | -1.0% | 14.1% | ||
| Q2 25 | 2.1% | 11.9% | ||
| Q1 25 | 3.0% | 2.8% | ||
| Q4 24 | -3.0% | 11.5% | ||
| Q3 24 | 37.3% | 14.8% | ||
| Q2 24 | 27.1% | 11.9% | ||
| Q1 24 | 31.6% | 5.5% |
净利率HRPM
| Q4 25 | -1.1% | 8.4% | ||
| Q3 25 | -2.7% | 10.8% | ||
| Q2 25 | -0.2% | 10.8% | ||
| Q1 25 | 1.2% | 3.5% | ||
| Q4 24 | -3.5% | 9.9% | ||
| Q3 24 | 28.9% | 11.6% | ||
| Q2 24 | 21.1% | 9.0% | ||
| Q1 24 | 30.5% | 4.0% |
每股收益（稀释后）HRPM
| Q4 25 | $-0.20 | $1.26 | ||
| Q3 25 | $-0.51 | $1.77 | ||
| Q2 25 | $-0.03 | $1.76 | ||
| Q1 25 | $0.19 | $0.40 | ||
| Q4 24 | $-0.37 | $1.42 | ||
| Q3 24 | $4.63 | $1.77 | ||
| Q2 24 | $3.46 | $1.40 | ||
| Q1 24 | $4.93 | $0.47 |
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 | $316.6M |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $3.3B | $3.1B |
| 总资产 | $14.0B | $7.9B |
| 负债/权益比越低杠杆越低 | — | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资HRPM
| Q4 25 | $813.0M | $316.6M | ||
| Q3 25 | $749.0M | $297.1M | ||
| Q2 25 | $912.0M | $302.1M | ||
| Q1 25 | $1.8B | $241.9M | ||
| Q4 24 | $1.4B | $268.7M | ||
| Q3 24 | $1.1B | $231.6M | ||
| Q2 24 | $2.0B | $237.4M | ||
| Q1 24 | $794.0M | $248.9M |
总债务HRPM
| Q4 25 | — | $2.5B | ||
| Q3 25 | $6.0B | $2.7B | ||
| Q2 25 | $6.0B | $2.6B | ||
| Q1 25 | $4.3B | $2.1B | ||
| Q4 24 | $3.8B | $2.0B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $3.9B | $2.0B | ||
| Q1 24 | $3.1B | $2.2B |
股东权益HRPM
| Q4 25 | $3.3B | $3.1B | ||
| Q3 25 | $3.5B | $3.1B | ||
| Q2 25 | $3.6B | $2.9B | ||
| Q1 25 | $3.5B | $2.7B | ||
| Q4 24 | $3.5B | $2.7B | ||
| Q3 24 | $3.7B | $2.6B | ||
| Q2 24 | $3.9B | $2.5B | ||
| Q1 24 | $3.7B | $2.3B |
总资产HRPM
| Q4 25 | $14.0B | $7.9B | ||
| Q3 25 | $15.7B | $7.9B | ||
| Q2 25 | $15.9B | $7.8B | ||
| Q1 25 | $14.0B | $6.6B | ||
| Q4 24 | $13.3B | $6.7B | ||
| Q3 24 | $11.9B | $6.6B | ||
| Q2 24 | $12.8B | $6.6B | ||
| Q1 24 | $11.7B | $6.4B |
负债/权益比HRPM
| Q4 25 | — | 0.80× | ||
| Q3 25 | 1.73× | 0.87× | ||
| Q2 25 | 1.69× | 0.91× | ||
| Q1 25 | 1.25× | 0.78× | ||
| Q4 24 | 1.07× | 0.74× | ||
| Q3 24 | 0.85× | 0.77× | ||
| Q2 24 | 1.01× | 0.79× | ||
| Q1 24 | 0.84× | 0.93× |
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 | $345.7M |
| 自由现金流经营现金流 - 资本支出 | $236.0M | $296.4M |
| 自由现金流率自由现金流/营收 | 13.2% | 15.5% |
| 资本支出强度资本支出/营收 | 4.3% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 2.14× |
| 过去12个月自由现金流最近4个季度 | $159.0M | $582.9M |
8季度趋势，按日历期对齐
经营现金流HRPM
| Q4 25 | $313.0M | $345.7M | ||
| Q3 25 | $-20.0M | $237.5M | ||
| Q2 25 | $-67.0M | $149.2M | ||
| Q1 25 | $153.0M | $91.5M | ||
| Q4 24 | $235.0M | $279.4M | ||
| Q3 24 | $-21.0M | $248.1M | ||
| Q2 24 | $177.0M | $181.2M | ||
| Q1 24 | $242.0M | $173.4M |
自由现金流HRPM
| Q4 25 | $236.0M | $296.4M | ||
| Q3 25 | $-89.0M | $175.0M | ||
| Q2 25 | $-111.0M | $78.2M | ||
| Q1 25 | $123.0M | $33.3M | ||
| Q4 24 | $184.0M | $229.5M | ||
| Q3 24 | $-64.0M | $197.3M | ||
| Q2 24 | $135.0M | $105.3M | ||
| Q1 24 | $208.0M | $124.6M |
自由现金流率HRPM
| Q4 25 | 13.2% | 15.5% | ||
| Q3 25 | -5.0% | 8.3% | ||
| Q2 25 | -6.1% | 3.8% | ||
| Q1 25 | 7.2% | 2.3% | ||
| Q4 24 | 11.5% | 12.4% | ||
| Q3 24 | -3.9% | 10.0% | ||
| Q2 24 | 7.9% | 5.2% | ||
| Q1 24 | 12.1% | 8.2% |
资本支出强度HRPM
| Q4 25 | 4.3% | 2.6% | ||
| Q3 25 | 3.9% | 3.0% | ||
| Q2 25 | 2.4% | 3.4% | ||
| Q1 25 | 1.7% | 3.9% | ||
| Q4 24 | 3.2% | 2.7% | ||
| Q3 24 | 2.6% | 2.6% | ||
| Q2 24 | 2.5% | 3.8% | ||
| Q1 24 | 2.0% | 3.2% |
现金转化率HRPM
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | 7.65× | 1.76× | ||
| Q4 24 | — | 1.53× | ||
| Q3 24 | -0.04× | 1.09× | ||
| Q2 24 | 0.49× | 1.00× | ||
| Q1 24 | 0.46× | 2.83× |
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
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% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
