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哈里伯顿（HAL）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
哈里伯顿的季度营收约是皇家加勒比集团的1.3倍（$5.4B vs $4.3B），皇家加勒比集团净利率更高（17.7% vs 8.6%，领先9.1%），皇家加勒比集团同比增速更快（13.3% vs -4.5%），哈里伯顿自由现金流更多（$123.0M vs $116.0M），过去两年皇家加勒比集团的营收复合增速更高（6.9% vs -3.8%）
哈里伯顿是源自美国的跨国企业，为全球第二大油田服务提供商，承接了全球绝大多数水力压裂作业项目。公司在美国注册，设有休斯敦与迪拜双总部，业务覆盖全球主要油气开采市场。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
HAL vs RCL — 直观对比
营收规模更大
HAL
是对方的1.3倍
$4.3B
营收增速更快
RCL
高出17.8%
-4.5%
净利率更高
RCL
高出9.1%
8.6%
自由现金流更多
HAL
多$7.0M
$116.0M
两年增速更快
RCL
近两年复合增速
-3.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $4.3B |
| 净利润 | $464.0M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 12.6% | 21.9% |
| 净利率 | 8.6% | 17.7% |
| 营收同比 | -4.5% | 13.3% |
| 净利润同比 | -21.2% | 36.4% |
| 每股收益（稀释后） | $0.55 | $2.76 |
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HALRCL
| Q1 26 | $5.4B | — | ||
| Q4 25 | $5.7B | $4.3B | ||
| Q3 25 | $5.6B | $5.1B | ||
| Q2 25 | $5.5B | $4.5B | ||
| Q1 25 | $5.4B | $4.0B | ||
| Q4 24 | $5.6B | $3.8B | ||
| Q3 24 | $5.7B | $4.9B | ||
| Q2 24 | $5.8B | $4.1B |
净利润HALRCL
| Q1 26 | $464.0M | — | ||
| Q4 25 | $589.0M | $753.0M | ||
| Q3 25 | $18.0M | $1.6B | ||
| Q2 25 | $472.0M | $1.2B | ||
| Q1 25 | $204.0M | $730.0M | ||
| Q4 24 | $615.0M | $552.0M | ||
| Q3 24 | $571.0M | $1.1B | ||
| Q2 24 | $709.0M | $854.0M |
毛利率HALRCL
| Q1 26 | — | — | ||
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% |
营业利润率HALRCL
| Q1 26 | 12.6% | — | ||
| Q4 25 | 13.2% | 21.9% | ||
| Q3 25 | 6.4% | 33.1% | ||
| Q2 25 | 13.2% | 29.3% | ||
| Q1 25 | 8.0% | 23.6% | ||
| Q4 24 | 16.6% | 16.6% | ||
| Q3 24 | 15.3% | 33.4% | ||
| Q2 24 | 17.7% | 26.7% |
净利率HALRCL
| Q1 26 | 8.6% | — | ||
| Q4 25 | 10.4% | 17.7% | ||
| Q3 25 | 0.3% | 30.6% | ||
| Q2 25 | 8.6% | 26.7% | ||
| Q1 25 | 3.8% | 18.3% | ||
| Q4 24 | 11.0% | 14.7% | ||
| Q3 24 | 10.0% | 22.7% | ||
| Q2 24 | 12.2% | 20.8% |
每股收益（稀释后）HALRCL
| Q1 26 | $0.55 | — | ||
| Q4 25 | — | $2.76 | ||
| Q3 25 | $0.02 | $5.74 | ||
| Q2 25 | $0.55 | $4.41 | ||
| Q1 25 | $0.24 | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | $650000.00 | $4.21 | ||
| Q2 24 | $800000.00 | $3.11 |
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 | $2.0M | $825.0M |
| 总债务越低越好 | $7.2M | $18.2B |
| 股东权益账面价值 | $10.8M | $10.0B |
| 总资产 | $25.1M | $41.6B |
| 负债/权益比越低杠杆越低 | 0.66× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资HALRCL
| Q1 26 | $2.0M | — | ||
| Q4 25 | $2.2B | $825.0M | ||
| Q3 25 | $2.0B | $432.0M | ||
| Q2 25 | — | $735.0M | ||
| Q1 25 | — | $386.0M | ||
| Q4 24 | $2.6B | $388.0M | ||
| Q3 24 | — | $418.0M | ||
| Q2 24 | — | $391.0M |
总债务HALRCL
| Q1 26 | $7.2M | — | ||
| Q4 25 | $7.2B | $18.2B | ||
| Q3 25 | $7.2B | $17.2B | ||
| Q2 25 | $7.2B | $17.6B | ||
| Q1 25 | $7.2B | $18.0B | ||
| Q4 24 | $7.2B | $18.5B | ||
| Q3 24 | $7.6B | $19.0B | ||
| Q2 24 | $7.6B | $19.8B |
股东权益HALRCL
| Q1 26 | $10.8M | — | ||
| Q4 25 | $10.5B | $10.0B | ||
| Q3 25 | $10.2B | $10.1B | ||
| Q2 25 | $10.5B | $9.2B | ||
| Q1 25 | $10.4B | $8.0B | ||
| Q4 24 | $10.5B | $7.6B | ||
| Q3 24 | $10.3B | $7.0B | ||
| Q2 24 | $10.0B | $6.0B |
总资产HALRCL
| Q1 26 | $25.1M | — | ||
| Q4 25 | $25.0B | $41.6B | ||
| Q3 25 | $25.2B | $40.1B | ||
| Q2 25 | $25.4B | $38.5B | ||
| Q1 25 | $25.2B | $37.5B | ||
| Q4 24 | $25.6B | $37.1B | ||
| Q3 24 | $25.3B | $37.1B | ||
| Q2 24 | $25.2B | $37.0B |
负债/权益比HALRCL
| Q1 26 | 0.66× | — | ||
| Q4 25 | 0.68× | 1.81× | ||
| Q3 25 | 0.70× | 1.70× | ||
| Q2 25 | 0.68× | 1.92× | ||
| Q1 25 | 0.69× | 2.26× | ||
| Q4 24 | 0.68× | 2.44× | ||
| Q3 24 | 0.74× | 2.69× | ||
| Q2 24 | 0.76× | 3.29× |
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 | — | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $123.0M | $116.0M |
| 自由现金流率自由现金流/营收 | 2.3% | 2.7% |
| 资本支出强度资本支出/营收 | 3.6% | 35.4% |
| 现金转化率经营现金流/净利润 | — | 2.16× |
| 过去12个月自由现金流最近4个季度 | $1.7B | $1.2B |
8季度趋势，按日历期对齐
经营现金流HALRCL
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $488.0M | $1.5B | ||
| Q2 25 | $896.0M | $1.7B | ||
| Q1 25 | $377.0M | $1.6B | ||
| Q4 24 | $1.5B | $1.5B | ||
| Q3 24 | $841.0M | $897.0M | ||
| Q2 24 | $1.1B | $1.6B |
自由现金流HALRCL
| Q1 26 | $123.0M | — | ||
| Q4 25 | $828.0M | $116.0M | ||
| Q3 25 | $227.0M | $-989.0M | ||
| Q2 25 | $542.0M | $910.0M | ||
| Q1 25 | $75.0M | $1.2B | ||
| Q4 24 | $1.0B | $915.0M | ||
| Q3 24 | $502.0M | $563.0M | ||
| Q2 24 | $734.0M | $-567.0M |
自由现金流率HALRCL
| Q1 26 | 2.3% | — | ||
| Q4 25 | 14.6% | 2.7% | ||
| Q3 25 | 4.1% | -19.2% | ||
| Q2 25 | 9.8% | 20.1% | ||
| Q1 25 | 1.4% | 30.0% | ||
| Q4 24 | 18.4% | 24.3% | ||
| Q3 24 | 8.8% | 11.5% | ||
| Q2 24 | 12.6% | -13.8% |
资本支出强度HALRCL
| Q1 26 | 3.6% | — | ||
| Q4 25 | 6.0% | 35.4% | ||
| Q3 25 | 4.7% | 47.8% | ||
| Q2 25 | 6.4% | 18.4% | ||
| Q1 25 | 5.6% | 10.7% | ||
| Q4 24 | 7.6% | 14.7% | ||
| Q3 24 | 6.0% | 6.8% | ||
| Q2 24 | 5.9% | 52.1% |
现金转化率HALRCL
| Q1 26 | — | — | ||
| Q4 25 | 1.98× | 2.16× | ||
| Q3 25 | 27.11× | 0.93× | ||
| Q2 25 | 1.90× | 1.44× | ||
| Q1 25 | 1.85× | 2.23× | ||
| Q4 24 | 2.37× | 2.66× | ||
| Q3 24 | 1.47× | 0.81× | ||
| Q2 24 | 1.52× | 1.84× |
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
HAL
| Completion and Production | $3.0B | 56% |
| Middle East/Asia | $1.3B | 24% |
| Europe/Africa/CIS | $858.0M | 16% |
| Other | $210.0M | 4% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
