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Hilton Grand Vacations Inc.（HGV）与IES Holdings, Inc.（IESC）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是IES Holdings, Inc.的1.4倍（$1.2B vs $871.0M），IES Holdings, Inc.净利率更高（10.5% vs 4.0%，领先6.5%），IES Holdings, Inc.同比增速更快（16.2% vs 3.7%），Hilton Grand Vacations Inc.自由现金流更多（$147.0M vs $-18.9M），过去两年IES Holdings, Inc.的营收复合增速更高（11.1% vs 7.4%）
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
HGV vs IESC — 直观对比
营收规模更大
HGV
是对方的1.4倍
$871.0M
营收增速更快
IESC
高出12.5%
3.7%
净利率更高
IESC
高出6.5%
4.0%
自由现金流更多
HGV
多$165.9M
$-18.9M
两年增速更快
IESC
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $871.0M |
| 净利润 | $48.0M | $91.8M |
| 毛利率 | — | 25.3% |
| 营业利润率 | 7.8% | 11.2% |
| 净利率 | 4.0% | 10.5% |
| 营收同比 | 3.7% | 16.2% |
| 净利润同比 | 140.0% | 59.1% |
| 每股收益（稀释后） | $0.53 | $4.51 |
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HGVIESC
| Q4 25 | $1.2B | $871.0M | ||
| Q3 25 | $1.2B | $897.8M | ||
| Q2 25 | $1.1B | $890.2M | ||
| Q1 25 | $1.0B | $834.0M | ||
| Q4 24 | $1.1B | $749.5M | ||
| Q3 24 | $1.2B | $775.8M | ||
| Q2 24 | $1.1B | $768.4M | ||
| Q1 24 | $1.0B | $705.7M |
净利润HGVIESC
| Q4 25 | $48.0M | $91.8M | ||
| Q3 25 | $25.0M | $102.3M | ||
| Q2 25 | $25.0M | $79.3M | ||
| Q1 25 | $-17.0M | $72.6M | ||
| Q4 24 | $20.0M | $57.7M | ||
| Q3 24 | $29.0M | $65.5M | ||
| Q2 24 | $2.0M | $66.6M | ||
| Q1 24 | $-4.0M | $56.8M |
毛利率HGVIESC
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.0% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | 25.0% | ||
| Q4 24 | — | 23.8% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 25.3% | ||
| Q1 24 | — | 24.3% |
营业利润率HGVIESC
| Q4 25 | 7.8% | 11.2% | ||
| Q3 25 | 3.9% | 11.6% | ||
| Q2 25 | 3.8% | 12.6% | ||
| Q1 25 | -0.6% | 11.1% | ||
| Q4 24 | 4.3% | 10.0% | ||
| Q3 24 | 7.9% | 9.7% | ||
| Q2 24 | 0.6% | 11.7% | ||
| Q1 24 | -1.3% | 11.0% |
净利率HGVIESC
| Q4 25 | 4.0% | 10.5% | ||
| Q3 25 | 2.1% | 11.4% | ||
| Q2 25 | 2.2% | 8.9% | ||
| Q1 25 | -1.7% | 8.7% | ||
| Q4 24 | 1.7% | 7.7% | ||
| Q3 24 | 2.5% | 8.4% | ||
| Q2 24 | 0.2% | 8.7% | ||
| Q1 24 | -0.4% | 8.0% |
每股收益（稀释后）HGVIESC
| Q4 25 | $0.53 | $4.51 | ||
| Q3 25 | $0.28 | $4.99 | ||
| Q2 25 | $0.25 | $3.81 | ||
| Q1 25 | $-0.17 | $3.50 | ||
| Q4 24 | $0.19 | $2.72 | ||
| Q3 24 | $0.28 | $3.06 | ||
| Q2 24 | $0.02 | $2.67 | ||
| Q1 24 | $-0.04 | $2.29 |
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 | $239.0M | $258.7M |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $1.3B | $961.1M |
| 总资产 | $11.5B | $1.7B |
| 负债/权益比越低杠杆越低 | 3.53× | — |
8季度趋势，按日历期对齐
现金及短期投资HGVIESC
| Q4 25 | $239.0M | $258.7M | ||
| Q3 25 | $215.0M | $231.8M | ||
| Q2 25 | $269.0M | $168.3M | ||
| Q1 25 | $259.0M | $88.3M | ||
| Q4 24 | $328.0M | $112.0M | ||
| Q3 24 | $297.0M | $135.8M | ||
| Q2 24 | $328.0M | $44.9M | ||
| Q1 24 | $355.0M | $106.0M |
总债务HGVIESC
| Q4 25 | $4.5B | — | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $4.6B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $5.1B | — |
股东权益HGVIESC
| Q4 25 | $1.3B | $961.1M | ||
| Q3 25 | $1.4B | $884.0M | ||
| Q2 25 | $1.5B | $781.4M | ||
| Q1 25 | $1.6B | $705.8M | ||
| Q4 24 | $1.8B | $652.4M | ||
| Q3 24 | $1.8B | $611.1M | ||
| Q2 24 | $1.9B | $567.5M | ||
| Q1 24 | $2.0B | $534.8M |
总资产HGVIESC
| Q4 25 | $11.5B | $1.7B | ||
| Q3 25 | $11.7B | $1.6B | ||
| Q2 25 | $11.7B | $1.5B | ||
| Q1 25 | $11.8B | $1.4B | ||
| Q4 24 | $11.4B | $1.3B | ||
| Q3 24 | $11.2B | $1.2B | ||
| Q2 24 | $11.5B | $1.2B | ||
| Q1 24 | $11.7B | $1.1B |
负债/权益比HGVIESC
| Q4 25 | 3.53× | — | ||
| Q3 25 | 3.41× | — | ||
| Q2 25 | 3.07× | — | ||
| Q1 25 | 2.83× | — | ||
| Q4 24 | 2.63× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 2.55× | — | ||
| Q1 24 | 2.57× | — |
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 | $167.0M | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $-18.9M |
| 自由现金流率自由现金流/营收 | 12.3% | -2.2% |
| 资本支出强度资本支出/营收 | 1.7% | 5.3% |
| 现金转化率经营现金流/净利润 | 3.48× | 0.30× |
| 过去12个月自由现金流最近4个季度 | $230.0M | $175.9M |
8季度趋势，按日历期对齐
经营现金流HGVIESC
| Q4 25 | $167.0M | $27.7M | ||
| Q3 25 | $34.0M | $132.0M | ||
| Q2 25 | $61.0M | $92.0M | ||
| Q1 25 | $38.0M | $24.8M | ||
| Q4 24 | $105.0M | $37.3M | ||
| Q3 24 | $91.0M | $92.8M | ||
| Q2 24 | $113.0M | $82.9M | ||
| Q1 24 | $0 | $33.7M |
自由现金流HGVIESC
| Q4 25 | $147.0M | $-18.9M | ||
| Q3 25 | $13.0M | $112.0M | ||
| Q2 25 | $46.0M | $74.8M | ||
| Q1 25 | $24.0M | $7.9M | ||
| Q4 24 | $90.0M | $24.1M | ||
| Q3 24 | $81.0M | $78.5M | ||
| Q2 24 | $106.0M | $65.4M | ||
| Q1 24 | — | $26.9M |
自由现金流率HGVIESC
| Q4 25 | 12.3% | -2.2% | ||
| Q3 25 | 1.1% | 12.5% | ||
| Q2 25 | 4.0% | 8.4% | ||
| Q1 25 | 2.4% | 0.9% | ||
| Q4 24 | 7.8% | 3.2% | ||
| Q3 24 | 6.9% | 10.1% | ||
| Q2 24 | 9.6% | 8.5% | ||
| Q1 24 | — | 3.8% |
资本支出强度HGVIESC
| Q4 25 | 1.7% | 5.3% | ||
| Q3 25 | 1.8% | 2.2% | ||
| Q2 25 | 1.3% | 1.9% | ||
| Q1 25 | 1.4% | 2.0% | ||
| Q4 24 | 1.3% | 1.8% | ||
| Q3 24 | 0.9% | 1.8% | ||
| Q2 24 | 0.6% | 2.3% | ||
| Q1 24 | 1.0% | 1.0% |
现金转化率HGVIESC
| Q4 25 | 3.48× | 0.30× | ||
| Q3 25 | 1.36× | 1.29× | ||
| Q2 25 | 2.44× | 1.16× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | 5.25× | 0.65× | ||
| Q3 24 | 3.14× | 1.42× | ||
| Q2 24 | 56.50× | 1.24× | ||
| Q1 24 | — | 0.59× |
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
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
