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是德科技（KEYS）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
是德科技的季度营收约是Ryman Hospitality Properties, Inc.的1.9倍（$1.4B vs $737.8M），是德科技净利率更高（16.4% vs 10.1%，领先6.3%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 10.3%），是德科技自由现金流更多（$187.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 6.2%）
是德科技是一家美国企业，主营电子测试测量设备与软件的研发、生产业务。公司由安捷伦科技拆分而来，核心产品线继承自惠普测试测量部门上世纪60年代末至千禧年间开发的相关产品，后独立为现有品牌。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
KEYS vs RHP — 直观对比
营收规模更大
KEYS
是对方的1.9倍
$737.8M
营收增速更快
RHP
高出3.7%
10.3%
净利率更高
KEYS
高出6.3%
10.1%
自由现金流更多
KEYS
多$128.5M
$58.5M
两年增速更快
RHP
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $737.8M |
| 净利润 | $233.0M | $74.5M |
| 毛利率 | 61.2% | 41.4% |
| 营业利润率 | 15.3% | 19.4% |
| 净利率 | 16.4% | 10.1% |
| 营收同比 | 10.3% | 13.9% |
| 净利润同比 | 419.2% | 3.0% |
| 每股收益（稀释后） | $1.35 | $1.12 |
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KEYSRHP
| Q4 25 | $1.4B | $737.8M | ||
| Q3 25 | $1.4B | $592.5M | ||
| Q2 25 | $1.3B | $659.5M | ||
| Q1 25 | $1.3B | $587.3M | ||
| Q4 24 | $1.3B | $647.6M | ||
| Q3 24 | $1.2B | $550.0M | ||
| Q2 24 | $1.2B | $613.3M | ||
| Q1 24 | $1.3B | $528.3M |
净利润KEYSRHP
| Q4 25 | $233.0M | $74.5M | ||
| Q3 25 | $191.0M | $34.9M | ||
| Q2 25 | $257.0M | $71.8M | ||
| Q1 25 | $169.0M | $63.0M | ||
| Q4 24 | $-73.0M | $72.3M | ||
| Q3 24 | $389.0M | $59.0M | ||
| Q2 24 | $126.0M | $100.8M | ||
| Q1 24 | $172.0M | $42.8M |
毛利率KEYSRHP
| Q4 25 | 61.2% | 41.4% | ||
| Q3 25 | 61.7% | 40.9% | ||
| Q2 25 | 62.3% | 49.7% | ||
| Q1 25 | 63.2% | 44.4% | ||
| Q4 24 | 62.3% | 40.4% | ||
| Q3 24 | 62.0% | 43.1% | ||
| Q2 24 | 62.7% | 48.4% | ||
| Q1 24 | 64.6% | 41.5% |
营业利润率KEYSRHP
| Q4 25 | 15.3% | 19.4% | ||
| Q3 25 | 17.3% | 15.0% | ||
| Q2 25 | 15.8% | 21.1% | ||
| Q1 25 | 16.8% | 19.8% | ||
| Q4 24 | 17.9% | 18.6% | ||
| Q3 24 | 16.8% | 19.3% | ||
| Q2 24 | 14.6% | 27.4% | ||
| Q1 24 | 17.6% | 18.2% |
净利率KEYSRHP
| Q4 25 | 16.4% | 10.1% | ||
| Q3 25 | 14.1% | 5.9% | ||
| Q2 25 | 19.7% | 10.9% | ||
| Q1 25 | 13.0% | 10.7% | ||
| Q4 24 | -5.7% | 11.2% | ||
| Q3 24 | 32.0% | 10.7% | ||
| Q2 24 | 10.4% | 16.4% | ||
| Q1 24 | 13.7% | 8.1% |
每股收益（稀释后）KEYSRHP
| Q4 25 | $1.35 | $1.12 | ||
| Q3 25 | $1.10 | $0.53 | ||
| Q2 25 | $1.49 | $1.12 | ||
| Q1 25 | $0.97 | $1.00 | ||
| Q4 24 | $-0.41 | $1.12 | ||
| Q3 24 | $2.22 | $0.94 | ||
| Q2 24 | $0.72 | $1.65 | ||
| Q1 24 | $0.98 | $0.67 |
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 | $1.9B | $471.4M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $5.9B | $750.2M |
| 总资产 | $11.3B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资KEYSRHP
| Q4 25 | $1.9B | $471.4M | ||
| Q3 25 | $2.6B | $483.3M | ||
| Q2 25 | $3.1B | $420.6M | ||
| Q1 25 | $2.1B | $413.9M | ||
| Q4 24 | $1.8B | $477.7M | ||
| Q3 24 | $1.6B | $534.9M | ||
| Q2 24 | $1.7B | $498.4M | ||
| Q1 24 | $1.7B | $465.3M |
总债务KEYSRHP
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.8B | — |
股东权益KEYSRHP
| Q4 25 | $5.9B | $750.2M | ||
| Q3 25 | $5.7B | $758.5M | ||
| Q2 25 | $5.5B | $800.4M | ||
| Q1 25 | $5.2B | $531.5M | ||
| Q4 24 | $5.1B | $549.0M | ||
| Q3 24 | $5.2B | $551.9M | ||
| Q2 24 | $4.9B | $562.6M | ||
| Q1 24 | $4.8B | $529.9M |
总资产KEYSRHP
| Q4 25 | $11.3B | $6.2B | ||
| Q3 25 | $10.7B | $6.2B | ||
| Q2 25 | $10.5B | $6.1B | ||
| Q1 25 | $9.4B | $5.2B | ||
| Q4 24 | $9.3B | $5.2B | ||
| Q3 24 | $9.3B | $5.2B | ||
| Q2 24 | $9.0B | $5.1B | ||
| Q1 24 | $9.1B | $5.1B |
负债/权益比KEYSRHP
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.38× | — |
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 | $225.0M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $187.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 13.2% | 7.9% |
| 资本支出强度资本支出/营收 | 2.7% | 14.4% |
| 现金转化率经营现金流/净利润 | 0.97× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $1.3B | $232.4M |
8季度趋势，按日历期对齐
经营现金流KEYSRHP
| Q4 25 | $225.0M | $164.7M | ||
| Q3 25 | $322.0M | $205.2M | ||
| Q2 25 | $484.0M | $122.5M | ||
| Q1 25 | $378.0M | $98.2M | ||
| Q4 24 | $359.0M | $166.6M | ||
| Q3 24 | $255.0M | $218.1M | ||
| Q2 24 | $110.0M | $184.3M | ||
| Q1 24 | $328.0M | $7.5M |
自由现金流KEYSRHP
| Q4 25 | $187.0M | $58.5M | ||
| Q3 25 | $291.0M | $135.4M | ||
| Q2 25 | $457.0M | $53.0M | ||
| Q1 25 | $346.0M | $-14.5M | ||
| Q4 24 | $321.0M | $76.0M | ||
| Q3 24 | $222.0M | $85.7M | ||
| Q2 24 | $74.0M | $78.8M | ||
| Q1 24 | $281.0M | $-72.0M |
自由现金流率KEYSRHP
| Q4 25 | 13.2% | 7.9% | ||
| Q3 25 | 21.5% | 22.9% | ||
| Q2 25 | 35.0% | 8.0% | ||
| Q1 25 | 26.7% | -2.5% | ||
| Q4 24 | 24.9% | 11.7% | ||
| Q3 24 | 18.2% | 15.6% | ||
| Q2 24 | 6.1% | 12.9% | ||
| Q1 24 | 22.3% | -13.6% |
资本支出强度KEYSRHP
| Q4 25 | 2.7% | 14.4% | ||
| Q3 25 | 2.3% | 11.8% | ||
| Q2 25 | 2.1% | 10.5% | ||
| Q1 25 | 2.5% | 19.2% | ||
| Q4 24 | 3.0% | 14.0% | ||
| Q3 24 | 2.7% | 24.1% | ||
| Q2 24 | 3.0% | 17.2% | ||
| Q1 24 | 3.7% | 15.0% |
现金转化率KEYSRHP
| Q4 25 | 0.97× | 2.21× | ||
| Q3 25 | 1.69× | 5.88× | ||
| Q2 25 | 1.88× | 1.71× | ||
| Q1 25 | 2.24× | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | 0.66× | 3.70× | ||
| Q2 24 | 0.87× | 1.83× | ||
| Q1 24 | 1.91× | 0.17× |
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
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
