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Hilton Grand Vacations Inc.（HGV）与光辉国际（KFY）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是光辉国际的1.6倍（$1.2B vs $729.8M），光辉国际净利率更高（9.9% vs 4.0%，领先5.9%），光辉国际同比增速更快（7.0% vs 3.7%），Hilton Grand Vacations Inc.自由现金流更多（$147.0M vs $100.7M），过去两年Hilton Grand Vacations Inc.的营收复合增速更高（7.4% vs 3.8%）
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。
光辉国际是一家总部位于美国加利福尼亚州洛杉矶的管理咨询企业，成立于1969年。截至2019年，公司在全球53个国家设有111个办事处，员工总数达8198名，旗下设有咨询、数字化、高管寻访、招聘流程外包及专业人才寻访四大业务板块，为全球客户提供全方位的人力资源及管理解决方案。
HGV vs KFY — 直观对比
营收规模更大
HGV
是对方的1.6倍
$729.8M
营收增速更快
KFY
高出3.3%
3.7%
净利率更高
KFY
高出5.9%
4.0%
自由现金流更多
HGV
多$46.3M
$100.7M
两年增速更快
HGV
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $729.8M |
| 净利润 | $48.0M | $72.4M |
| 毛利率 | — | — |
| 营业利润率 | 7.8% | 13.5% |
| 净利率 | 4.0% | 9.9% |
| 营收同比 | 3.7% | 7.0% |
| 净利润同比 | 140.0% | 19.1% |
| 每股收益（稀释后） | $0.53 | $1.36 |
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HGVKFY
| Q4 25 | $1.2B | $729.8M | ||
| Q3 25 | $1.2B | $715.5M | ||
| Q2 25 | $1.1B | $719.8M | ||
| Q1 25 | $1.0B | $676.5M | ||
| Q4 24 | $1.1B | $682.0M | ||
| Q3 24 | $1.2B | $682.8M | ||
| Q2 24 | $1.1B | $699.9M | ||
| Q1 24 | $1.0B | $676.9M |
净利润HGVKFY
| Q4 25 | $48.0M | $72.4M | ||
| Q3 25 | $25.0M | $66.6M | ||
| Q2 25 | $25.0M | $64.2M | ||
| Q1 25 | $-17.0M | $58.4M | ||
| Q4 24 | $20.0M | $60.8M | ||
| Q3 24 | $29.0M | $62.6M | ||
| Q2 24 | $2.0M | $65.2M | ||
| Q1 24 | $-4.0M | $59.1M |
营业利润率HGVKFY
| Q4 25 | 7.8% | 13.5% | ||
| Q3 25 | 3.9% | 11.7% | ||
| Q2 25 | 3.8% | 14.5% | ||
| Q1 25 | -0.6% | 11.6% | ||
| Q4 24 | 4.3% | 12.8% | ||
| Q3 24 | 7.9% | 11.1% | ||
| Q2 24 | 0.6% | 11.9% | ||
| Q1 24 | -1.3% | 7.4% |
净利率HGVKFY
| Q4 25 | 4.0% | 9.9% | ||
| Q3 25 | 2.1% | 9.3% | ||
| Q2 25 | 2.2% | 8.9% | ||
| Q1 25 | -1.7% | 8.6% | ||
| Q4 24 | 1.7% | 8.9% | ||
| Q3 24 | 2.5% | 9.2% | ||
| Q2 24 | 0.2% | 9.3% | ||
| Q1 24 | -0.4% | 8.7% |
每股收益（稀释后）HGVKFY
| Q4 25 | $0.53 | $1.36 | ||
| Q3 25 | $0.28 | $1.26 | ||
| Q2 25 | $0.25 | $1.19 | ||
| Q1 25 | $-0.17 | $1.10 | ||
| Q4 24 | $0.19 | $1.14 | ||
| Q3 24 | $0.28 | $1.17 | ||
| Q2 24 | $0.02 | $1.25 | ||
| Q1 24 | $-0.04 | $1.13 |
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 | $801.1M |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $1.3B | $1.9B |
| 总资产 | $11.5B | $3.7B |
| 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HGVKFY
| Q4 25 | $239.0M | $801.1M | ||
| Q3 25 | $215.0M | $721.1M | ||
| Q2 25 | $269.0M | $1.0B | ||
| Q1 25 | $259.0M | $820.0M | ||
| Q4 24 | $328.0M | $735.5M | ||
| Q3 24 | $297.0M | $674.0M | ||
| Q2 24 | $328.0M | $983.7M | ||
| Q1 24 | $355.0M | $782.5M |
总债务HGVKFY
| 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HGVKFY
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $1.5B | $1.9B | ||
| Q1 25 | $1.6B | $1.8B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.8B | $1.8B | ||
| Q2 24 | $1.9B | $1.7B | ||
| Q1 24 | $2.0B | $1.7B |
总资产HGVKFY
| Q4 25 | $11.5B | $3.7B | ||
| Q3 25 | $11.7B | $3.6B | ||
| Q2 25 | $11.7B | $3.9B | ||
| Q1 25 | $11.8B | $3.6B | ||
| Q4 24 | $11.4B | $3.5B | ||
| Q3 24 | $11.2B | $3.4B | ||
| Q2 24 | $11.5B | $3.7B | ||
| Q1 24 | $11.7B | $3.6B |
负债/权益比HGVKFY
| 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 | $121.4M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $100.7M |
| 自由现金流率自由现金流/营收 | 12.3% | 13.8% |
| 资本支出强度资本支出/营收 | 1.7% | 2.8% |
| 现金转化率经营现金流/净利润 | 3.48× | 1.68× |
| 过去12个月自由现金流最近4个季度 | $230.0M | $272.6M |
8季度趋势，按日历期对齐
经营现金流HGVKFY
| Q4 25 | $167.0M | $121.4M | ||
| Q3 25 | $34.0M | $-237.4M | ||
| Q2 25 | $61.0M | $255.8M | ||
| Q1 25 | $38.0M | $213.7M | ||
| Q4 24 | $105.0M | $122.0M | ||
| Q3 24 | $91.0M | $-227.2M | ||
| Q2 24 | $113.0M | $261.9M | ||
| Q1 24 | $0 | $164.0M |
自由现金流HGVKFY
| Q4 25 | $147.0M | $100.7M | ||
| Q3 25 | $13.0M | $-260.0M | ||
| Q2 25 | $46.0M | $235.5M | ||
| Q1 25 | $24.0M | $196.4M | ||
| Q4 24 | $90.0M | $107.7M | ||
| Q3 24 | $81.0M | $-237.7M | ||
| Q2 24 | $106.0M | $250.0M | ||
| Q1 24 | — | $152.3M |
自由现金流率HGVKFY
| Q4 25 | 12.3% | 13.8% | ||
| Q3 25 | 1.1% | -36.3% | ||
| Q2 25 | 4.0% | 32.7% | ||
| Q1 25 | 2.4% | 29.0% | ||
| Q4 24 | 7.8% | 15.8% | ||
| Q3 24 | 6.9% | -34.8% | ||
| Q2 24 | 9.6% | 35.7% | ||
| Q1 24 | — | 22.5% |
资本支出强度HGVKFY
| Q4 25 | 1.7% | 2.8% | ||
| Q3 25 | 1.8% | 3.2% | ||
| Q2 25 | 1.3% | 2.8% | ||
| Q1 25 | 1.4% | 2.6% | ||
| Q4 24 | 1.3% | 2.1% | ||
| Q3 24 | 0.9% | 1.5% | ||
| Q2 24 | 0.6% | 1.7% | ||
| Q1 24 | 1.0% | 1.7% |
现金转化率HGVKFY
| Q4 25 | 3.48× | 1.68× | ||
| Q3 25 | 1.36× | -3.56× | ||
| Q2 25 | 2.44× | 3.98× | ||
| Q1 25 | — | 3.66× | ||
| Q4 24 | 5.25× | 2.01× | ||
| Q3 24 | 3.14× | -3.63× | ||
| Q2 24 | 56.50× | 4.02× | ||
| Q1 24 | — | 2.78× |
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% |
KFY
| Industrial | $234.0M | 32% |
| Technology Service | $104.5M | 14% |
| RPO | $92.3M | 13% |
| Digital | $91.2M | 13% |
| Consumer Goods | $85.0M | 12% |
| Executive Search EMEA | $52.2M | 7% |
| Education Non Profit And General | $43.2M | 6% |
| Executive Search Asia Pacific | $24.3M | 3% |
| Reimbursed Out Of Pocket Engagement Expenses | $8.1M | 1% |
