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仲量联行（JLL）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
仲量联行的季度营收约是皇家加勒比集团的1.8倍（$7.6B vs $4.3B），皇家加勒比集团净利率更高（17.7% vs 5.3%，领先12.4%），皇家加勒比集团同比增速更快（13.3% vs 11.7%），过去两年仲量联行的营收复合增速更高（21.9% vs 6.9%）
仲量联行（JLL）是总部位于美国芝加哥的全球知名房地产服务企业，位列《财富》世界500强第188位，在80个国家设有办事处，面向机构投资者、散户投资者及高净值人群提供全球投资管理服务，同时通过JLL Technologies推出科技产品，旗下PropTech基金JLL Spark主营地产科技领域风险投资。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
JLL vs RCL — 直观对比
营收规模更大
JLL
是对方的1.8倍
$4.3B
营收增速更快
RCL
高出1.6%
11.7%
净利率更高
RCL
高出12.4%
5.3%
两年增速更快
JLL
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.6B | $4.3B |
| 净利润 | $401.8M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 6.7% | 21.9% |
| 净利率 | 5.3% | 17.7% |
| 营收同比 | 11.7% | 13.3% |
| 净利润同比 | 66.6% | 36.4% |
| 每股收益（稀释后） | $8.33 | $2.76 |
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JLLRCL
| Q4 25 | $7.6B | $4.3B | ||
| Q3 25 | $6.5B | $5.1B | ||
| Q2 25 | $6.3B | $4.5B | ||
| Q1 25 | $5.7B | $4.0B | ||
| Q4 24 | $6.8B | $3.8B | ||
| Q3 24 | $5.9B | $4.9B | ||
| Q2 24 | $5.6B | $4.1B | ||
| Q1 24 | $5.1B | $3.7B |
净利润JLLRCL
| Q4 25 | $401.8M | $753.0M | ||
| Q3 25 | $222.4M | $1.6B | ||
| Q2 25 | $110.5M | $1.2B | ||
| Q1 25 | $57.5M | $730.0M | ||
| Q4 24 | $241.2M | $552.0M | ||
| Q3 24 | $155.1M | $1.1B | ||
| Q2 24 | $84.4M | $854.0M | ||
| Q1 24 | $66.1M | $360.0M |
毛利率JLLRCL
| Q4 25 | — | 47.4% | ||
| Q3 25 | — | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 47.6% | ||
| Q1 24 | — | 44.8% |
营业利润率JLLRCL
| Q4 25 | 6.7% | 21.9% | ||
| Q3 25 | 4.2% | 33.1% | ||
| Q2 25 | 3.2% | 29.3% | ||
| Q1 25 | 2.1% | 23.6% | ||
| Q4 24 | 5.5% | 16.6% | ||
| Q3 24 | 3.9% | 33.4% | ||
| Q2 24 | 2.7% | 26.7% | ||
| Q1 24 | 2.2% | 20.1% |
净利率JLLRCL
| Q4 25 | 5.3% | 17.7% | ||
| Q3 25 | 3.4% | 30.6% | ||
| Q2 25 | 1.8% | 26.7% | ||
| Q1 25 | 1.0% | 18.3% | ||
| Q4 24 | 3.5% | 14.7% | ||
| Q3 24 | 2.6% | 22.7% | ||
| Q2 24 | 1.5% | 20.8% | ||
| Q1 24 | 1.3% | 9.7% |
每股收益（稀释后）JLLRCL
| Q4 25 | $8.33 | $2.76 | ||
| Q3 25 | $4.61 | $5.74 | ||
| Q2 25 | $2.32 | $4.41 | ||
| Q1 25 | $1.14 | $2.70 | ||
| Q4 24 | $4.98 | $2.27 | ||
| Q3 24 | $3.20 | $4.21 | ||
| Q2 24 | $1.75 | $3.11 | ||
| Q1 24 | $1.37 | $1.35 |
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 | $599.1M | $825.0M |
| 总债务越低越好 | — | $18.2B |
| 股东权益账面价值 | $7.5B | $10.0B |
| 总资产 | $17.8B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资JLLRCL
| Q4 25 | $599.1M | $825.0M | ||
| Q3 25 | $428.9M | $432.0M | ||
| Q2 25 | $401.4M | $735.0M | ||
| Q1 25 | $432.4M | $386.0M | ||
| Q4 24 | $416.3M | $388.0M | ||
| Q3 24 | $437.8M | $418.0M | ||
| Q2 24 | $424.4M | $391.0M | ||
| Q1 24 | $396.7M | $437.0M |
总债务JLLRCL
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
股东权益JLLRCL
| Q4 25 | $7.5B | $10.0B | ||
| Q3 25 | $7.2B | $10.1B | ||
| Q2 25 | $7.0B | $9.2B | ||
| Q1 25 | $6.8B | $8.0B | ||
| Q4 24 | $6.8B | $7.6B | ||
| Q3 24 | $6.6B | $7.0B | ||
| Q2 24 | $6.4B | $6.0B | ||
| Q1 24 | $6.3B | $5.2B |
总资产JLLRCL
| Q4 25 | $17.8B | $41.6B | ||
| Q3 25 | $17.2B | $40.1B | ||
| Q2 25 | $17.3B | $38.5B | ||
| Q1 25 | $16.6B | $37.5B | ||
| Q4 24 | $16.8B | $37.1B | ||
| Q3 24 | $17.8B | $37.1B | ||
| Q2 24 | $15.9B | $37.0B | ||
| Q1 24 | $15.5B | $35.2B |
负债/权益比JLLRCL
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | $1.0B | $1.6B |
| 自由现金流经营现金流 - 资本支出 | — | $116.0M |
| 自由现金流率自由现金流/营收 | — | 2.7% |
| 资本支出强度资本支出/营收 | — | 35.4% |
| 现金转化率经营现金流/净利润 | 2.52× | 2.16× |
| 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JLLRCL
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $617.1M | $1.5B | ||
| Q2 25 | $332.8M | $1.7B | ||
| Q1 25 | $-767.6M | $1.6B | ||
| Q4 24 | $927.3M | $1.5B | ||
| Q3 24 | $261.6M | $897.0M | ||
| Q2 24 | $273.9M | $1.6B | ||
| Q1 24 | $-677.5M | $1.3B |
自由现金流JLLRCL
| Q4 25 | — | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M | ||
| Q1 24 | — | $1.1B |
自由现金流率JLLRCL
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | — | 29.1% |
资本支出强度JLLRCL
| Q4 25 | — | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% | ||
| Q1 24 | — | 6.5% |
现金转化率JLLRCL
| Q4 25 | 2.52× | 2.16× | ||
| Q3 25 | 2.77× | 0.93× | ||
| Q2 25 | 3.01× | 1.44× | ||
| Q1 25 | -13.35× | 2.23× | ||
| Q4 24 | 3.84× | 2.66× | ||
| Q3 24 | 1.69× | 0.81× | ||
| Q2 24 | 3.25× | 1.84× | ||
| Q1 24 | -10.25× | 3.69× |
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
JLL
| Workplace Management | $3.8B | 50% |
| Project Management | $1.1B | 15% |
| Leasing Advisory | $1.0B | 13% |
| Leasing | $964.9M | 13% |
| Property Management | $480.2M | 6% |
| Portfolio Services And Other | $152.1M | 2% |
| Advisory Fees | $98.1M | 1% |
| Loan Servicing | $42.2M | 1% |
| Transaction Fees Other | $16.4M | 0% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
