vs
伯克希尔·哈撒韦（HEI）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
伯克希尔·哈撒韦的季度营收约是Ryman Hospitality Properties, Inc.的1.6倍（$1.2B vs $737.8M），伯克希尔·哈撒韦净利率更高（15.6% vs 10.1%，领先5.5%），伯克希尔·哈撒韦同比增速更快（19.3% vs 13.9%），伯克希尔·哈撒韦自由现金流更多（$268.5M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 16.2%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
HEI vs RHP — 直观对比
营收规模更大
HEI
是对方的1.6倍
$737.8M
营收增速更快
HEI
高出5.4%
13.9%
净利率更高
HEI
高出5.5%
10.1%
自由现金流更多
HEI
多$209.9M
$58.5M
两年增速更快
RHP
近两年复合增速
16.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $737.8M |
| 净利润 | $188.3M | $74.5M |
| 毛利率 | 40.2% | 41.4% |
| 营业利润率 | 23.1% | 19.4% |
| 净利率 | 15.6% | 10.1% |
| 营收同比 | 19.3% | 13.9% |
| 净利润同比 | 34.8% | 3.0% |
| 每股收益（稀释后） | $1.32 | $1.12 |
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HEIRHP
| Q4 25 | $1.2B | $737.8M | ||
| Q3 25 | $1.1B | $592.5M | ||
| Q2 25 | $1.1B | $659.5M | ||
| Q1 25 | $1.0B | $587.3M | ||
| Q4 24 | $1.0B | $647.6M | ||
| Q3 24 | $992.2M | $550.0M | ||
| Q2 24 | $955.4M | $613.3M | ||
| Q1 24 | $896.4M | $528.3M |
净利润HEIRHP
| Q4 25 | $188.3M | $74.5M | ||
| Q3 25 | $177.3M | $34.9M | ||
| Q2 25 | $156.8M | $71.8M | ||
| Q1 25 | $168.0M | $63.0M | ||
| Q4 24 | $139.7M | $72.3M | ||
| Q3 24 | $136.6M | $59.0M | ||
| Q2 24 | $123.1M | $100.8M | ||
| Q1 24 | $114.7M | $42.8M |
毛利率HEIRHP
| Q4 25 | 40.2% | 41.4% | ||
| Q3 25 | 39.8% | 40.9% | ||
| Q2 25 | 39.9% | 49.7% | ||
| Q1 25 | 39.4% | 44.4% | ||
| Q4 24 | 38.9% | 40.4% | ||
| Q3 24 | 39.2% | 43.1% | ||
| Q2 24 | 38.9% | 48.4% | ||
| Q1 24 | 38.7% | 41.5% |
营业利润率HEIRHP
| Q4 25 | 23.1% | 19.4% | ||
| Q3 25 | 23.1% | 15.0% | ||
| Q2 25 | 22.6% | 21.1% | ||
| Q1 25 | 22.0% | 19.8% | ||
| Q4 24 | 21.6% | 18.6% | ||
| Q3 24 | 21.8% | 19.3% | ||
| Q2 24 | 21.9% | 27.4% | ||
| Q1 24 | 20.1% | 18.2% |
净利率HEIRHP
| Q4 25 | 15.6% | 10.1% | ||
| Q3 25 | 15.5% | 5.9% | ||
| Q2 25 | 14.3% | 10.9% | ||
| Q1 25 | 16.3% | 10.7% | ||
| Q4 24 | 13.8% | 11.2% | ||
| Q3 24 | 13.8% | 10.7% | ||
| Q2 24 | 12.9% | 16.4% | ||
| Q1 24 | 12.8% | 8.1% |
每股收益（稀释后）HEIRHP
| Q4 25 | $1.32 | $1.12 | ||
| Q3 25 | $1.26 | $0.53 | ||
| Q2 25 | $1.12 | $1.12 | ||
| Q1 25 | $1.20 | $1.00 | ||
| Q4 24 | $1.00 | $1.12 | ||
| Q3 24 | $0.97 | $0.94 | ||
| Q2 24 | $0.88 | $1.65 | ||
| Q1 24 | $0.82 | $0.67 |
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 | $217.8M | $471.4M |
| 总债务越低越好 | $2.2B | — |
| 股东权益账面价值 | $4.3B | $750.2M |
| 总资产 | $8.5B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.50× | — |
8季度趋势，按日历期对齐
现金及短期投资HEIRHP
| Q4 25 | $217.8M | $471.4M | ||
| Q3 25 | $261.9M | $483.3M | ||
| Q2 25 | $242.3M | $420.6M | ||
| Q1 25 | $165.5M | $413.9M | ||
| Q4 24 | $162.1M | $477.7M | ||
| Q3 24 | $202.9M | $534.9M | ||
| Q2 24 | $204.2M | $498.4M | ||
| Q1 24 | $196.3M | $465.3M |
总债务HEIRHP
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.5B | — |
股东权益HEIRHP
| Q4 25 | $4.3B | $750.2M | ||
| Q3 25 | $4.1B | $758.5M | ||
| Q2 25 | $4.0B | $800.4M | ||
| Q1 25 | $3.7B | $531.5M | ||
| Q4 24 | $3.6B | $549.0M | ||
| Q3 24 | $3.5B | $551.9M | ||
| Q2 24 | $3.4B | $562.6M | ||
| Q1 24 | $3.3B | $529.9M |
总资产HEIRHP
| Q4 25 | $8.5B | $6.2B | ||
| Q3 25 | $8.5B | $6.2B | ||
| Q2 25 | $8.1B | $6.1B | ||
| Q1 25 | $7.9B | $5.2B | ||
| Q4 24 | $7.6B | $5.2B | ||
| Q3 24 | $7.4B | $5.2B | ||
| Q2 24 | $7.4B | $5.1B | ||
| Q1 24 | $7.3B | $5.1B |
负债/权益比HEIRHP
| Q4 25 | 0.50× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.61× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.76× | — |
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 | $295.3M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $58.5M |
| 自由现金流率自由现金流/营收 | 22.2% | 7.9% |
| 资本支出强度资本支出/营收 | 2.2% | 14.4% |
| 现金转化率经营现金流/净利润 | 1.57× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $861.4M | $232.4M |
8季度趋势，按日历期对齐
经营现金流HEIRHP
| Q4 25 | $295.3M | $164.7M | ||
| Q3 25 | $231.2M | $205.2M | ||
| Q2 25 | $204.7M | $122.5M | ||
| Q1 25 | $203.0M | $98.2M | ||
| Q4 24 | $205.6M | $166.6M | ||
| Q3 24 | $214.0M | $218.1M | ||
| Q2 24 | $141.1M | $184.3M | ||
| Q1 24 | $111.7M | $7.5M |
自由现金流HEIRHP
| Q4 25 | $268.5M | $58.5M | ||
| Q3 25 | $218.5M | $135.4M | ||
| Q2 25 | $188.7M | $53.0M | ||
| Q1 25 | $185.7M | $-14.5M | ||
| Q4 24 | $189.5M | $76.0M | ||
| Q3 24 | $198.1M | $85.7M | ||
| Q2 24 | $128.2M | $78.8M | ||
| Q1 24 | $98.3M | $-72.0M |
自由现金流率HEIRHP
| Q4 25 | 22.2% | 7.9% | ||
| Q3 25 | 19.0% | 22.9% | ||
| Q2 25 | 17.2% | 8.0% | ||
| Q1 25 | 18.0% | -2.5% | ||
| Q4 24 | 18.7% | 11.7% | ||
| Q3 24 | 20.0% | 15.6% | ||
| Q2 24 | 13.4% | 12.9% | ||
| Q1 24 | 11.0% | -13.6% |
资本支出强度HEIRHP
| Q4 25 | 2.2% | 14.4% | ||
| Q3 25 | 1.1% | 11.8% | ||
| Q2 25 | 1.5% | 10.5% | ||
| Q1 25 | 1.7% | 19.2% | ||
| Q4 24 | 1.6% | 14.0% | ||
| Q3 24 | 1.6% | 24.1% | ||
| Q2 24 | 1.4% | 17.2% | ||
| Q1 24 | 1.5% | 15.0% |
现金转化率HEIRHP
| Q4 25 | 1.57× | 2.21× | ||
| Q3 25 | 1.30× | 5.88× | ||
| Q2 25 | 1.31× | 1.71× | ||
| Q1 25 | 1.21× | 1.56× | ||
| Q4 24 | 1.47× | 2.30× | ||
| Q3 24 | 1.57× | 3.70× | ||
| Q2 24 | 1.15× | 1.83× | ||
| Q1 24 | 0.97× | 0.17× |
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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
