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Hilton Grand Vacations Inc.（HGV）与沃特世（WAT）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations Inc.的季度营收约是沃特世的1.3倍（$1.2B vs $932.4M），沃特世净利率更高（24.2% vs 4.0%，领先20.1%），沃特世同比增速更快（6.8% vs 3.7%），过去两年沃特世的营收复合增速更高（21.0% 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。
沃特世是总部位于美国马萨诸塞州米尔福德的企业，面向生命科学、材料、食品等行业，提供色谱、质谱、实验室信息学、流变测量领域所用的分析仪器及配套软件，为各领域的检测、研发等工作提供可靠技术支持。
HGV vs WAT — 直观对比
营收规模更大
HGV
是对方的1.3倍
$932.4M
营收增速更快
WAT
高出3.1%
3.7%
净利率更高
WAT
高出20.1%
4.0%
两年增速更快
WAT
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $932.4M |
| 净利润 | $48.0M | $225.2M |
| 毛利率 | — | 61.1% |
| 营业利润率 | 7.8% | 29.0% |
| 净利率 | 4.0% | 24.2% |
| 营收同比 | 3.7% | 6.8% |
| 净利润同比 | 140.0% | -2.7% |
| 每股收益（稀释后） | $0.53 | $3.76 |
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HGVWAT
| Q4 25 | $1.2B | $932.4M | ||
| Q3 25 | $1.2B | $799.9M | ||
| Q2 25 | $1.1B | $771.3M | ||
| Q1 25 | $1.0B | $661.7M | ||
| Q4 24 | $1.1B | $872.7M | ||
| Q3 24 | $1.2B | $740.3M | ||
| Q2 24 | $1.1B | $708.5M | ||
| Q1 24 | $1.0B | $636.8M |
净利润HGVWAT
| Q4 25 | $48.0M | $225.2M | ||
| Q3 25 | $25.0M | $148.9M | ||
| Q2 25 | $25.0M | $147.1M | ||
| Q1 25 | $-17.0M | $121.4M | ||
| Q4 24 | $20.0M | $231.4M | ||
| Q3 24 | $29.0M | $161.5M | ||
| Q2 24 | $2.0M | $142.7M | ||
| Q1 24 | $-4.0M | $102.2M |
毛利率HGVWAT
| Q4 25 | — | 61.1% | ||
| Q3 25 | — | 59.0% | ||
| Q2 25 | — | 58.3% | ||
| Q1 25 | — | 58.2% | ||
| Q4 24 | — | 60.1% | ||
| Q3 24 | — | 59.3% | ||
| Q2 24 | — | 59.3% | ||
| Q1 24 | — | 58.9% |
营业利润率HGVWAT
| Q4 25 | 7.8% | 29.0% | ||
| Q3 25 | 3.9% | 24.0% | ||
| Q2 25 | 3.8% | 24.4% | ||
| Q1 25 | -0.6% | 22.9% | ||
| Q4 24 | 4.3% | 33.5% | ||
| Q3 24 | 7.9% | 28.5% | ||
| Q2 24 | 0.6% | 26.7% | ||
| Q1 24 | -1.3% | 21.0% |
净利率HGVWAT
| Q4 25 | 4.0% | 24.2% | ||
| Q3 25 | 2.1% | 18.6% | ||
| Q2 25 | 2.2% | 19.1% | ||
| Q1 25 | -1.7% | 18.3% | ||
| Q4 24 | 1.7% | 26.5% | ||
| Q3 24 | 2.5% | 21.8% | ||
| Q2 24 | 0.2% | 20.1% | ||
| Q1 24 | -0.4% | 16.0% |
每股收益（稀释后）HGVWAT
| Q4 25 | $0.53 | $3.76 | ||
| Q3 25 | $0.28 | $2.50 | ||
| Q2 25 | $0.25 | $2.47 | ||
| Q1 25 | $-0.17 | $2.03 | ||
| Q4 24 | $0.19 | $3.88 | ||
| Q3 24 | $0.28 | $2.71 | ||
| Q2 24 | $0.02 | $2.40 | ||
| Q1 24 | $-0.04 | $1.72 |
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 | $587.8M |
| 总债务越低越好 | $4.5B | $1.4B |
| 股东权益账面价值 | $1.3B | $2.6B |
| 总资产 | $11.5B | $5.1B |
| 负债/权益比越低杠杆越低 | 3.53× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资HGVWAT
| Q4 25 | $239.0M | $587.8M | ||
| Q3 25 | $215.0M | $459.1M | ||
| Q2 25 | $269.0M | $367.2M | ||
| Q1 25 | $259.0M | $382.9M | ||
| Q4 24 | $328.0M | $325.4M | ||
| Q3 24 | $297.0M | $331.5M | ||
| Q2 24 | $328.0M | $327.4M | ||
| Q1 24 | $355.0M | $338.2M |
总债务HGVWAT
| Q4 25 | $4.5B | $1.4B | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $4.6B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.6B | $1.6B | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $5.1B | — |
股东权益HGVWAT
| Q4 25 | $1.3B | $2.6B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.5B | $2.2B | ||
| Q1 25 | $1.6B | $2.0B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $2.0B | $1.3B |
总资产HGVWAT
| Q4 25 | $11.5B | $5.1B | ||
| Q3 25 | $11.7B | $4.9B | ||
| Q2 25 | $11.7B | $4.7B | ||
| Q1 25 | $11.8B | $4.6B | ||
| Q4 24 | $11.4B | $4.6B | ||
| Q3 24 | $11.2B | $4.5B | ||
| Q2 24 | $11.5B | $4.4B | ||
| Q1 24 | $11.7B | $4.5B |
负债/权益比HGVWAT
| Q4 25 | 3.53× | 0.55× | ||
| Q3 25 | 3.41× | — | ||
| Q2 25 | 3.07× | — | ||
| Q1 25 | 2.83× | — | ||
| Q4 24 | 2.63× | 0.89× | ||
| 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 | $164.6M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | — |
| 自由现金流率自由现金流/营收 | 12.3% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 3.48× | 0.73× |
| 过去12个月自由现金流最近4个季度 | $230.0M | — |
8季度趋势，按日历期对齐
经营现金流HGVWAT
| Q4 25 | $167.0M | $164.6M | ||
| Q3 25 | $34.0M | $187.3M | ||
| Q2 25 | $61.0M | $41.1M | ||
| Q1 25 | $38.0M | $259.6M | ||
| Q4 24 | $105.0M | $240.1M | ||
| Q3 24 | $91.0M | $204.6M | ||
| Q2 24 | $113.0M | $54.5M | ||
| Q1 24 | $0 | $262.9M |
自由现金流HGVWAT
| Q4 25 | $147.0M | — | ||
| Q3 25 | $13.0M | — | ||
| Q2 25 | $46.0M | — | ||
| Q1 25 | $24.0M | — | ||
| Q4 24 | $90.0M | — | ||
| Q3 24 | $81.0M | — | ||
| Q2 24 | $106.0M | — | ||
| Q1 24 | — | — |
自由现金流率HGVWAT
| Q4 25 | 12.3% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 6.9% | — | ||
| Q2 24 | 9.6% | — | ||
| Q1 24 | — | — |
资本支出强度HGVWAT
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | 1.0% | — |
现金转化率HGVWAT
| Q4 25 | 3.48× | 0.73× | ||
| Q3 25 | 1.36× | 1.26× | ||
| Q2 25 | 2.44× | 0.28× | ||
| Q1 25 | — | 2.14× | ||
| Q4 24 | 5.25× | 1.04× | ||
| Q3 24 | 3.14× | 1.27× | ||
| Q2 24 | 56.50× | 0.38× | ||
| Q1 24 | — | 2.57× |
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% |
WAT
暂无分部数据
