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Host Hotels & Resorts（HST）与美泰（MAT）财务数据对比。点击上方公司名可切换其他公司
Host Hotels & Resorts的季度营收约是美泰的1.9倍（$1.6B vs $862.2M），Host Hotels & Resorts净利率更高（8.4% vs 7.1%，领先1.3%），Host Hotels & Resorts同比增速更快（12.3% vs 4.3%），Host Hotels & Resorts自由现金流更多（$445.0M vs $-88.1M），过去两年Host Hotels & Resorts的营收复合增速更高（4.4% vs -10.6%）
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。
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
HST vs MAT — 直观对比
营收规模更大
HST
是对方的1.9倍
$862.2M
营收增速更快
HST
高出7.9%
4.3%
净利率更高
HST
高出1.3%
7.1%
自由现金流更多
HST
多$533.1M
$-88.1M
两年增速更快
HST
近两年复合增速
-10.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $862.2M |
| 净利润 | $135.0M | $61.0M |
| 毛利率 | — | 44.9% |
| 营业利润率 | 12.0% | — |
| 净利率 | 8.4% | 7.1% |
| 营收同比 | 12.3% | 4.3% |
| 净利润同比 | 25.0% | 251.4% |
| 每股收益（稀释后） | $0.20 | $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HSTMAT
| Q1 26 | — | $862.2M | ||
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.6B | $1.0B | ||
| Q1 25 | $1.6B | $826.6M | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.5B | $1.1B |
净利润HSTMAT
| Q1 26 | — | $61.0M | ||
| Q4 25 | $135.0M | $106.2M | ||
| Q3 25 | $161.0M | $278.4M | ||
| Q2 25 | $221.0M | $53.4M | ||
| Q1 25 | $248.0M | $-40.3M | ||
| Q4 24 | $108.0M | $140.9M | ||
| Q3 24 | $82.0M | $372.4M | ||
| Q2 24 | $239.0M | $56.9M |
毛利率HSTMAT
| Q1 26 | — | 44.9% | ||
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 50.9% | ||
| Q1 25 | — | 49.4% | ||
| Q4 24 | — | 50.7% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 49.2% |
营业利润率HSTMAT
| Q1 26 | — | — | ||
| Q4 25 | 12.0% | 8.0% | ||
| Q3 25 | 7.6% | 21.9% | ||
| Q2 25 | 17.5% | 7.7% | ||
| Q1 25 | 17.9% | -6.4% | ||
| Q4 24 | 11.0% | 9.6% | ||
| Q3 24 | 10.2% | 26.5% | ||
| Q2 24 | 19.9% | 7.7% |
净利率HSTMAT
| Q1 26 | — | 7.1% | ||
| Q4 25 | 8.4% | 6.0% | ||
| Q3 25 | 12.1% | 16.0% | ||
| Q2 25 | 13.9% | 5.2% | ||
| Q1 25 | 15.6% | -4.9% | ||
| Q4 24 | 7.6% | 8.6% | ||
| Q3 24 | 6.2% | 20.2% | ||
| Q2 24 | 16.3% | 5.3% |
每股收益（稀释后）HSTMAT
| Q1 26 | — | $0.20 | ||
| Q4 25 | $0.20 | $0.32 | ||
| Q3 25 | $0.23 | $0.88 | ||
| Q2 25 | $0.32 | $0.16 | ||
| Q1 25 | $0.35 | $-0.12 | ||
| Q4 24 | $0.15 | $0.40 | ||
| Q3 24 | $0.12 | $1.09 | ||
| Q2 24 | $0.34 | $0.17 |
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 | $866.0M |
| 总债务越低越好 | $1.3B | $2.3B |
| 股东权益账面价值 | $6.6B | $2.1B |
| 总资产 | $13.0B | $6.3B |
| 负债/权益比越低杠杆越低 | 0.19× | 1.11× |
8季度趋势，按日历期对齐
现金及短期投资HSTMAT
| Q1 26 | — | $866.0M | ||
| Q4 25 | $768.0M | $1.2B | ||
| Q3 25 | $539.0M | $691.9M | ||
| Q2 25 | $490.0M | $870.5M | ||
| Q1 25 | $428.0M | $1.2B | ||
| Q4 24 | $554.0M | $1.4B | ||
| Q3 24 | $564.0M | $723.5M | ||
| Q2 24 | $805.0M | $722.4M |
总债务HSTMAT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.3B | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $896.0M | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
股东权益HSTMAT
| Q1 26 | — | $2.1B | ||
| Q4 25 | $6.6B | $2.2B | ||
| Q3 25 | $6.7B | $2.3B | ||
| Q2 25 | $6.6B | $2.2B | ||
| Q1 25 | $6.7B | $2.1B | ||
| Q4 24 | $6.6B | $2.3B | ||
| Q3 24 | $6.7B | $2.3B | ||
| Q2 24 | $6.8B | $2.0B |
总资产HSTMAT
| Q1 26 | — | $6.3B | ||
| Q4 25 | $13.0B | $6.6B | ||
| Q3 25 | $13.0B | $6.6B | ||
| Q2 25 | $13.0B | $6.2B | ||
| Q1 25 | $12.9B | $6.2B | ||
| Q4 24 | $13.0B | $6.5B | ||
| Q3 24 | $13.1B | $6.5B | ||
| Q2 24 | $12.4B | $5.9B |
负债/权益比HSTMAT
| Q1 26 | — | 1.11× | ||
| Q4 25 | 0.19× | 1.04× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | 0.14× | 1.03× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.18× |
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 | $-88.1M |
| 自由现金流率自由现金流/营收 | 27.8% | -10.2% |
| 资本支出强度资本支出/营收 | 6.1% | 7.6% |
| 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HSTMAT
| Q1 26 | — | — | ||
| Q4 25 | $543.0M | $796.6M | ||
| Q3 25 | $218.0M | $72.0M | ||
| Q2 25 | $444.0M | $-300.1M | ||
| Q1 25 | $305.0M | $24.8M | ||
| Q4 24 | $331.0M | $862.1M | ||
| Q3 24 | $349.0M | $155.8M | ||
| Q2 24 | $453.0M | $-252.9M |
自由现金流HSTMAT
| Q1 26 | — | $-88.1M | ||
| 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 | — |
自由现金流率HSTMAT
| Q1 26 | — | -10.2% | ||
| 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% | — |
资本支出强度HSTMAT
| Q1 26 | — | 7.6% | ||
| 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% | — |
现金转化率HSTMAT
| Q1 26 | — | — | ||
| Q4 25 | 4.02× | 7.50× | ||
| Q3 25 | 1.35× | 0.26× | ||
| Q2 25 | 2.01× | -5.62× | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 3.06× | 6.12× | ||
| Q3 24 | 4.26× | 0.42× | ||
| Q2 24 | 1.90× | -4.45× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
