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Hilton Grand Vacations Inc.（HGV）与诺信（NDSN）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是诺信的1.6倍（$1.2B vs $751.8M），诺信净利率更高（20.2% vs 4.0%，领先16.1%），Hilton Grand Vacations Inc.同比增速更快（3.7% vs 1.0%），诺信自由现金流更多（$193.9M vs $147.0M），过去两年诺信的营收复合增速更高（9.0% 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。
诺信（Nordson Corporation）是总部位于美国的跨国企业，专业设计生产民用及工业场景使用的胶粘剂、密封剂、涂料喷涂设备，同时生产电子元器件检测设备、固化及表面处理技术系统，还布局了医疗设备与组件技术相关业务。
HGV vs NDSN — 直观对比
营收规模更大
HGV
是对方的1.6倍
$751.8M
营收增速更快
HGV
高出2.8%
1.0%
净利率更高
NDSN
高出16.1%
4.0%
自由现金流更多
NDSN
多$46.9M
$147.0M
两年增速更快
NDSN
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $751.8M |
| 净利润 | $48.0M | $151.6M |
| 毛利率 | — | 56.3% |
| 营业利润率 | 7.8% | 28.5% |
| 净利率 | 4.0% | 20.2% |
| 营收同比 | 3.7% | 1.0% |
| 净利润同比 | 140.0% | 24.1% |
| 每股收益（稀释后） | $0.53 | $2.67 |
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HGVNDSN
| Q4 25 | $1.2B | $751.8M | ||
| Q3 25 | $1.2B | $741.5M | ||
| Q2 25 | $1.1B | $682.9M | ||
| Q1 25 | $1.0B | $615.4M | ||
| Q4 24 | $1.1B | $744.5M | ||
| Q3 24 | $1.2B | $661.6M | ||
| Q2 24 | $1.1B | $650.6M | ||
| Q1 24 | $1.0B | $633.2M |
净利润HGVNDSN
| Q4 25 | $48.0M | $151.6M | ||
| Q3 25 | $25.0M | $125.8M | ||
| Q2 25 | $25.0M | $112.4M | ||
| Q1 25 | $-17.0M | $94.7M | ||
| Q4 24 | $20.0M | $122.2M | ||
| Q3 24 | $29.0M | $117.3M | ||
| Q2 24 | $2.0M | $118.2M | ||
| Q1 24 | $-4.0M | $109.6M |
毛利率HGVNDSN
| Q4 25 | — | 56.3% | ||
| Q3 25 | — | 54.8% | ||
| Q2 25 | — | 54.7% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 54.1% | ||
| Q3 24 | — | 55.8% | ||
| Q2 24 | — | 56.2% | ||
| Q1 24 | — | 55.0% |
营业利润率HGVNDSN
| Q4 25 | 7.8% | 28.5% | ||
| Q3 25 | 3.9% | 25.3% | ||
| Q2 25 | 3.8% | 24.7% | ||
| Q1 25 | -0.6% | 22.9% | ||
| Q4 24 | 4.3% | 24.0% | ||
| Q3 24 | 7.9% | 25.3% | ||
| Q2 24 | 0.6% | 25.9% | ||
| Q1 24 | -1.3% | 25.2% |
净利率HGVNDSN
| Q4 25 | 4.0% | 20.2% | ||
| Q3 25 | 2.1% | 17.0% | ||
| Q2 25 | 2.2% | 16.5% | ||
| Q1 25 | -1.7% | 15.4% | ||
| Q4 24 | 1.7% | 16.4% | ||
| Q3 24 | 2.5% | 17.7% | ||
| Q2 24 | 0.2% | 18.2% | ||
| Q1 24 | -0.4% | 17.3% |
每股收益（稀释后）HGVNDSN
| Q4 25 | $0.53 | $2.67 | ||
| Q3 25 | $0.28 | $2.22 | ||
| Q2 25 | $0.25 | $1.97 | ||
| Q1 25 | $-0.17 | $1.65 | ||
| Q4 24 | $0.19 | $2.12 | ||
| Q3 24 | $0.28 | $2.04 | ||
| Q2 24 | $0.02 | $2.05 | ||
| Q1 24 | $-0.04 | $1.90 |
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 | $108.4M |
| 总债务越低越好 | $4.5B | $2.0B |
| 股东权益账面价值 | $1.3B | $3.0B |
| 总资产 | $11.5B | $5.9B |
| 负债/权益比越低杠杆越低 | 3.53× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资HGVNDSN
| Q4 25 | $239.0M | $108.4M | ||
| Q3 25 | $215.0M | $147.8M | ||
| Q2 25 | $269.0M | $130.2M | ||
| Q1 25 | $259.0M | $130.4M | ||
| Q4 24 | $328.0M | $116.0M | ||
| Q3 24 | $297.0M | $165.3M | ||
| Q2 24 | $328.0M | $125.4M | ||
| Q1 24 | $355.0M | $136.2M |
总债务HGVNDSN
| Q4 25 | $4.5B | $2.0B | ||
| Q3 25 | $4.7B | $2.1B | ||
| Q2 25 | $4.6B | $2.2B | ||
| Q1 25 | $4.5B | $2.2B | ||
| Q4 24 | $4.6B | $2.2B | ||
| Q3 24 | $5.0B | $1.5B | ||
| Q2 24 | $4.9B | $1.5B | ||
| Q1 24 | $5.1B | $1.6B |
股东权益HGVNDSN
| Q4 25 | $1.3B | $3.0B | ||
| Q3 25 | $1.4B | $3.0B | ||
| Q2 25 | $1.5B | $3.0B | ||
| Q1 25 | $1.6B | $2.9B | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $1.8B | $2.9B | ||
| Q2 24 | $1.9B | $2.8B | ||
| Q1 24 | $2.0B | $2.7B |
总资产HGVNDSN
| Q4 25 | $11.5B | $5.9B | ||
| Q3 25 | $11.7B | $6.0B | ||
| Q2 25 | $11.7B | $6.1B | ||
| Q1 25 | $11.8B | $5.9B | ||
| Q4 24 | $11.4B | $6.0B | ||
| Q3 24 | $11.2B | $5.2B | ||
| Q2 24 | $11.5B | $5.2B | ||
| Q1 24 | $11.7B | $5.2B |
负债/权益比HGVNDSN
| Q4 25 | 3.53× | 0.66× | ||
| Q3 25 | 3.41× | 0.71× | ||
| Q2 25 | 3.07× | 0.74× | ||
| Q1 25 | 2.83× | 0.75× | ||
| Q4 24 | 2.63× | 0.75× | ||
| Q3 24 | 2.73× | 0.52× | ||
| Q2 24 | 2.55× | 0.55× | ||
| Q1 24 | 2.57× | 0.60× |
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 | $202.9M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $193.9M |
| 自由现金流率自由现金流/营收 | 12.3% | 25.8% |
| 资本支出强度资本支出/营收 | 1.7% | 1.2% |
| 现金转化率经营现金流/净利润 | 3.48× | 1.34× |
| 过去12个月自由现金流最近4个季度 | $230.0M | $661.1M |
8季度趋势，按日历期对齐
经营现金流HGVNDSN
| Q4 25 | $167.0M | $202.9M | ||
| Q3 25 | $34.0M | $238.0M | ||
| Q2 25 | $61.0M | $119.2M | ||
| Q1 25 | $38.0M | $159.1M | ||
| Q4 24 | $105.0M | $96.4M | ||
| Q3 24 | $91.0M | $164.8M | ||
| Q2 24 | $113.0M | $122.6M | ||
| Q1 24 | $0 | $172.4M |
自由现金流HGVNDSN
| Q4 25 | $147.0M | $193.9M | ||
| Q3 25 | $13.0M | $226.4M | ||
| Q2 25 | $46.0M | $103.1M | ||
| Q1 25 | $24.0M | $137.7M | ||
| Q4 24 | $90.0M | $75.8M | ||
| Q3 24 | $81.0M | $143.0M | ||
| Q2 24 | $106.0M | $108.2M | ||
| Q1 24 | — | $164.8M |
自由现金流率HGVNDSN
| Q4 25 | 12.3% | 25.8% | ||
| Q3 25 | 1.1% | 30.5% | ||
| Q2 25 | 4.0% | 15.1% | ||
| Q1 25 | 2.4% | 22.4% | ||
| Q4 24 | 7.8% | 10.2% | ||
| Q3 24 | 6.9% | 21.6% | ||
| Q2 24 | 9.6% | 16.6% | ||
| Q1 24 | — | 26.0% |
资本支出强度HGVNDSN
| Q4 25 | 1.7% | 1.2% | ||
| Q3 25 | 1.8% | 1.6% | ||
| Q2 25 | 1.3% | 2.3% | ||
| Q1 25 | 1.4% | 3.5% | ||
| Q4 24 | 1.3% | 2.8% | ||
| Q3 24 | 0.9% | 3.3% | ||
| Q2 24 | 0.6% | 2.2% | ||
| Q1 24 | 1.0% | 1.2% |
现金转化率HGVNDSN
| Q4 25 | 3.48× | 1.34× | ||
| Q3 25 | 1.36× | 1.89× | ||
| Q2 25 | 2.44× | 1.06× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | 5.25× | 0.79× | ||
| Q3 24 | 3.14× | 1.41× | ||
| Q2 24 | 56.50× | 1.04× | ||
| Q1 24 | — | 1.57× |
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% |
NDSN
| Advanced Technology Systems | $624.5M | 83% |
| Other | $127.3M | 17% |
