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Host Hotels & Resorts（HST）与欢聚集团（JOYY）财务数据对比。点击上方公司名可切换其他公司
Host Hotels & Resorts的季度营收约是欢聚集团的1.0倍（$1.6B vs $1.5B），欢聚集团净利率更高（10.4% vs 8.4%，领先2.0%），过去两年欢聚集团的营收复合增速更高（16.8% vs 4.4%）
Host Hotels & Resorts是总部位于美国马里兰州贝塞斯达的房地产投资信托企业，专注于高端酒店资产投资。截至2024年12月31日，公司在美国、巴西、加拿大共持有81家高端酒店，总客房数约4.34万间，是全球知名的酒店不动产投资机构。
欢聚集团是全球化社交媒体科技企业，主营直播、短视频、社交互动类数字娱乐服务，核心产品覆盖东南亚、中东、拉美等多个新兴市场，为全球用户提供丰富的沉浸式互动内容体验。
HST vs JOYY — 直观对比
营收规模更大
HST
是对方的1.0倍
$1.5B
净利率更高
JOYY
高出2.0%
8.4%
两年增速更快
JOYY
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.5B |
| 净利润 | $135.0M | $160.1M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 12.0% | 2.4% |
| 净利率 | 8.4% | 10.4% |
| 营收同比 | 12.3% | — |
| 净利润同比 | 25.0% | — |
| 每股收益（稀释后） | $0.20 | — |
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HSTJOYY
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.6B | $1.0B | ||
| Q1 25 | $1.6B | $494.4M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.5B | $564.6M |
净利润HSTJOYY
| Q4 25 | $135.0M | — | ||
| Q3 25 | $161.0M | $160.1M | ||
| Q2 25 | $221.0M | $100.9M | ||
| Q1 25 | $248.0M | $42.9M | ||
| Q4 24 | $108.0M | — | ||
| Q3 24 | $82.0M | $143.9M | ||
| Q2 24 | $239.0M | $87.9M | ||
| Q1 24 | $268.0M | $40.2M |
毛利率HSTJOYY
| Q4 25 | — | — | ||
| Q3 25 | — | 36.1% | ||
| Q2 25 | — | 36.3% | ||
| Q1 25 | — | 36.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 35.7% | ||
| Q2 24 | — | 34.9% | ||
| Q1 24 | — | 34.6% |
营业利润率HSTJOYY
| Q4 25 | 12.0% | — | ||
| Q3 25 | 7.6% | 2.4% | ||
| Q2 25 | 17.5% | 1.8% | ||
| Q1 25 | 17.9% | 2.5% | ||
| Q4 24 | 11.0% | — | ||
| Q3 24 | 10.2% | 1.3% | ||
| Q2 24 | 19.9% | 0.5% | ||
| Q1 24 | 19.8% | 0.6% |
净利率HSTJOYY
| Q4 25 | 8.4% | — | ||
| Q3 25 | 12.1% | 10.4% | ||
| Q2 25 | 13.9% | 10.1% | ||
| Q1 25 | 15.6% | 8.7% | ||
| Q4 24 | 7.6% | — | ||
| Q3 24 | 6.2% | 8.5% | ||
| Q2 24 | 16.3% | 7.8% | ||
| Q1 24 | 18.2% | 7.1% |
每股收益（稀释后）HSTJOYY
| Q4 25 | $0.20 | — | ||
| Q3 25 | $0.23 | — | ||
| Q2 25 | $0.32 | — | ||
| Q1 25 | $0.35 | — | ||
| Q4 24 | $0.15 | — | ||
| Q3 24 | $0.12 | — | ||
| Q2 24 | $0.34 | — | ||
| Q1 24 | $0.38 | — |
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 | $768.0M | $383.8M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $6.6B | $6.6B |
| 总资产 | $13.0B | $7.5B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资HSTJOYY
| Q4 25 | $768.0M | — | ||
| Q3 25 | $539.0M | $383.8M | ||
| Q2 25 | $490.0M | $401.0M | ||
| Q1 25 | $428.0M | $801.5M | ||
| Q4 24 | $554.0M | — | ||
| Q3 24 | $564.0M | $481.8M | ||
| Q2 24 | $805.0M | $607.1M | ||
| Q1 24 | $1.3B | $728.2M |
总债务HSTJOYY
| Q4 25 | $1.3B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $896.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HSTJOYY
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.7B | $6.6B | ||
| Q2 25 | $6.6B | $6.6B | ||
| Q1 25 | $6.7B | $6.6B | ||
| Q4 24 | $6.6B | — | ||
| Q3 24 | $6.7B | $5.3B | ||
| Q2 24 | $6.8B | $5.3B | ||
| Q1 24 | $6.7B | $5.3B |
总资产HSTJOYY
| Q4 25 | $13.0B | — | ||
| Q3 25 | $13.0B | $7.5B | ||
| Q2 25 | $13.0B | $7.5B | ||
| Q1 25 | $12.9B | $7.6B | ||
| Q4 24 | $13.0B | — | ||
| Q3 24 | $13.1B | $8.1B | ||
| Q2 24 | $12.4B | $8.1B | ||
| Q1 24 | $12.5B | $8.6B |
负债/权益比HSTJOYY
| Q4 25 | 0.19× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $543.0M | — |
| 自由现金流经营现金流 - 资本支出 | $445.0M | — |
| 自由现金流率自由现金流/营收 | 27.8% | — |
| 资本支出强度资本支出/营收 | 6.1% | — |
| 现金转化率经营现金流/净利润 | 4.02× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流HSTJOYY
| Q4 25 | $543.0M | — | ||
| Q3 25 | $218.0M | — | ||
| Q2 25 | $444.0M | — | ||
| Q1 25 | $305.0M | — | ||
| Q4 24 | $331.0M | — | ||
| Q3 24 | $349.0M | — | ||
| Q2 24 | $453.0M | — | ||
| Q1 24 | $365.0M | — |
自由现金流HSTJOYY
| Q4 25 | $445.0M | — | ||
| Q3 25 | $143.0M | — | ||
| Q2 25 | $381.0M | — | ||
| Q1 25 | $259.0M | — | ||
| Q4 24 | $235.0M | — | ||
| Q3 24 | $262.0M | — | ||
| Q2 24 | $409.0M | — | ||
| Q1 24 | $332.0M | — |
自由现金流率HSTJOYY
| Q4 25 | 27.8% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 24.0% | — | ||
| Q1 25 | 16.2% | — | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 22.6% | — |
资本支出强度HSTJOYY
| Q4 25 | 6.1% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 2.2% | — |
现金转化率HSTJOYY
| Q4 25 | 4.02× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 2.01× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 3.06× | — | ||
| Q3 24 | 4.26× | — | ||
| Q2 24 | 1.90× | — | ||
| Q1 24 | 1.36× | — |
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
HST
暂无分部数据
JOYY
| Live streaming | $1.1B | 74% |
| Advertising | $297.3M | 19% |
| Others | $109.8M | 7% |
