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LANDS' END, INC.（LE）与猫途鹰（TRIP）财务数据对比。点击上方公司名可切换其他公司
猫途鹰的季度营收约是LANDS' END, INC.的1.3倍（$411.0M vs $317.5M），LANDS' END, INC.净利率更高（1.6% vs -9.2%，领先10.9%），LANDS' END, INC.同比增速更快（0.1% vs 0.0%），LANDS' END, INC.自由现金流更多（$-22.4M vs $-122.0M），过去两年猫途鹰的营收复合增速更高（2.0% vs -0.9%）
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
TripAdvisor是美国知名在线旅游服务企业，旗下运营在线旅行社平台、旅游产品比价网站及移动应用，平台拥有大量用户生成的真实旅行内容，为全球消费者提供出行规划、预订等多元服务。
LE vs TRIP — 直观对比
营收规模更大
TRIP
是对方的1.3倍
$317.5M
营收增速更快
LE
高出0.1%
0.0%
净利率更高
LE
高出10.9%
-9.2%
自由现金流更多
LE
多$99.6M
$-122.0M
两年增速更快
TRIP
近两年复合增速
-0.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.5M | $411.0M |
| 净利润 | $5.2M | $-38.0M |
| 毛利率 | 51.8% | 91.5% |
| 营业利润率 | 5.3% | -8.3% |
| 净利率 | 1.6% | -9.2% |
| 营收同比 | 0.1% | 0.0% |
| 净利润同比 | 198.3% | -3900.0% |
| 每股收益（稀释后） | $0.17 | $-0.32 |
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LETRIP
| Q4 25 | $317.5M | $411.0M | ||
| Q3 25 | — | $553.0M | ||
| Q2 25 | $261.2M | $529.0M | ||
| Q1 25 | — | $398.0M | ||
| Q4 24 | $318.6M | $411.0M | ||
| Q3 24 | $317.2M | $532.0M | ||
| Q2 24 | $285.5M | $497.0M | ||
| Q1 24 | $514.9M | $395.0M |
净利润LETRIP
| Q4 25 | $5.2M | $-38.0M | ||
| Q3 25 | — | $53.0M | ||
| Q2 25 | $-8.3M | $36.0M | ||
| Q1 25 | — | $-11.0M | ||
| Q4 24 | $-593.0K | $1.0M | ||
| Q3 24 | $-5.3M | $39.0M | ||
| Q2 24 | $-6.4M | $24.0M | ||
| Q1 24 | $-8.6M | $-59.0M |
毛利率LETRIP
| Q4 25 | 51.8% | 91.5% | ||
| Q3 25 | — | 92.6% | ||
| Q2 25 | 50.8% | 92.1% | ||
| Q1 25 | — | 93.2% | ||
| Q4 24 | 50.6% | 93.4% | ||
| Q3 24 | 47.9% | 92.5% | ||
| Q2 24 | 48.7% | 92.8% | ||
| Q1 24 | 38.0% | 93.7% |
营业利润率LETRIP
| Q4 25 | 5.3% | -8.3% | ||
| Q3 25 | — | 12.7% | ||
| Q2 25 | -0.9% | 11.2% | ||
| Q1 25 | — | -3.8% | ||
| Q4 24 | 2.9% | 0.2% | ||
| Q3 24 | 0.8% | 13.2% | ||
| Q2 24 | 0.8% | 7.2% | ||
| Q1 24 | 1.6% | -3.8% |
净利率LETRIP
| Q4 25 | 1.6% | -9.2% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | -3.2% | 6.8% | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | -0.2% | 0.2% | ||
| Q3 24 | -1.7% | 7.3% | ||
| Q2 24 | -2.3% | 4.8% | ||
| Q1 24 | -1.7% | -14.9% |
每股收益（稀释后）LETRIP
| Q4 25 | $0.17 | $-0.32 | ||
| Q3 25 | — | $0.43 | ||
| Q2 25 | $-0.27 | $0.28 | ||
| Q1 25 | — | $-0.08 | ||
| Q4 24 | $-0.02 | $0.03 | ||
| Q3 24 | $-0.17 | $0.27 | ||
| Q2 24 | $-0.20 | $0.17 | ||
| Q1 24 | $-0.27 | $-0.43 |
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 | $36.3M | $1.0B |
| 总债务越低越好 | — | $819.0M |
| 股东权益账面价值 | $231.0M | $645.0M |
| 总资产 | $852.7M | $2.6B |
| 负债/权益比越低杠杆越低 | — | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资LETRIP
| Q4 25 | $36.3M | $1.0B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | $18.1M | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $30.4M | $1.1B | ||
| Q3 24 | $25.6M | $1.1B | ||
| Q2 24 | $27.4M | $1.2B | ||
| Q1 24 | $25.3M | $1.2B |
总债务LETRIP
| Q4 25 | — | $819.0M | ||
| Q3 25 | — | $821.0M | ||
| Q2 25 | — | $822.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $831.0M | ||
| Q3 24 | — | $832.0M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LETRIP
| Q4 25 | $231.0M | $645.0M | ||
| Q3 25 | — | $707.0M | ||
| Q2 25 | $230.1M | $627.0M | ||
| Q1 25 | — | $643.0M | ||
| Q4 24 | $223.6M | $943.0M | ||
| Q3 24 | $226.5M | $944.0M | ||
| Q2 24 | $234.6M | $857.0M | ||
| Q1 24 | $241.6M | $825.0M |
总资产LETRIP
| Q4 25 | $852.7M | $2.6B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | $760.5M | $2.9B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $843.6M | $2.6B | ||
| Q3 24 | $802.5M | $2.7B | ||
| Q2 24 | $800.1M | $2.8B | ||
| Q1 24 | $811.5M | $2.7B |
负债/权益比LETRIP
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | — | 1.31× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | — | 0.88× | ||
| Q3 24 | — | 0.88× | ||
| 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 | $-15.7M | $-103.0M |
| 自由现金流经营现金流 - 资本支出 | $-22.4M | $-122.0M |
| 自由现金流率自由现金流/营收 | -7.1% | -29.7% |
| 资本支出强度资本支出/营收 | 2.1% | 4.6% |
| 现金转化率经营现金流/净利润 | -3.03× | — |
| 过去12个月自由现金流最近4个季度 | $-55.0M | $163.0M |
8季度趋势，按日历期对齐
经营现金流LETRIP
| Q4 25 | $-15.7M | $-103.0M | ||
| Q3 25 | — | $44.0M | ||
| Q2 25 | $-22.5M | $202.0M | ||
| Q1 25 | — | $102.0M | ||
| Q4 24 | $-17.1M | $-3.0M | ||
| Q3 24 | $30.7M | $-43.0M | ||
| Q2 24 | $-25.8M | $51.0M | ||
| Q1 24 | $93.9M | $139.0M |
自由现金流LETRIP
| Q4 25 | $-22.4M | $-122.0M | ||
| Q3 25 | — | $25.0M | ||
| Q2 25 | $-30.7M | $177.0M | ||
| Q1 25 | — | $83.0M | ||
| Q4 24 | $-27.8M | $-26.0M | ||
| Q3 24 | $26.0M | $-63.0M | ||
| Q2 24 | $-32.6M | $36.0M | ||
| Q1 24 | $87.5M | $123.0M |
自由现金流率LETRIP
| Q4 25 | -7.1% | -29.7% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | -11.8% | 33.5% | ||
| Q1 25 | — | 20.9% | ||
| Q4 24 | -8.7% | -6.3% | ||
| Q3 24 | 8.2% | -11.8% | ||
| Q2 24 | -11.4% | 7.2% | ||
| Q1 24 | 17.0% | 31.1% |
资本支出强度LETRIP
| Q4 25 | 2.1% | 4.6% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | 3.2% | 4.7% | ||
| Q1 25 | — | 4.8% | ||
| Q4 24 | 3.3% | 5.6% | ||
| Q3 24 | 1.5% | 3.8% | ||
| Q2 24 | 2.4% | 3.0% | ||
| Q1 24 | 1.2% | 4.1% |
现金转化率LETRIP
| Q4 25 | -3.03× | — | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 5.61× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -3.00× | ||
| Q3 24 | — | -1.10× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | — |
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
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
