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李尔公司（LEA）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
李尔公司的季度营收约是皇家加勒比集团的1.3倍（$6.0B vs $4.5B），皇家加勒比集团净利率更高（21.3% vs 1.4%，领先20.0%），皇家加勒比集团同比增速更快（11.3% vs 4.8%），过去两年皇家加勒比集团的营收复合增速更高（4.1% vs -0.1%）
李尔公司是美国知名汽车零部件供应商，核心业务涵盖汽车座椅及电气系统的研发、生产与销售。公司曾位列2018年《财富》世界500强第148位，2019年升至第147位，在全球汽车供应链领域拥有突出的市场地位与品牌影响力。
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。
LEA vs RCL — 直观对比
营收规模更大
LEA
是对方的1.3倍
$4.5B
营收增速更快
RCL
高出6.5%
4.8%
净利率更高
RCL
高出20.0%
1.4%
两年增速更快
RCL
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.0B | $4.5B |
| 净利润 | $82.7M | $950.0M |
| 毛利率 | 5.7% | — |
| 营业利润率 | 2.6% | 26.1% |
| 净利率 | 1.4% | 21.3% |
| 营收同比 | 4.8% | 11.3% |
| 净利润同比 | -6.1% | 29.1% |
| 每股收益（稀释后） | $1.58 | $3.48 |
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LEARCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $6.0B | $4.3B | ||
| Q3 25 | $5.7B | $5.1B | ||
| Q2 25 | $6.0B | $4.5B | ||
| Q1 25 | $5.6B | $4.0B | ||
| Q4 24 | $5.7B | $3.8B | ||
| Q3 24 | $5.6B | $4.9B | ||
| Q2 24 | $6.0B | $4.1B |
净利润LEARCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $82.7M | $753.0M | ||
| Q3 25 | $108.2M | $1.6B | ||
| Q2 25 | $165.2M | $1.2B | ||
| Q1 25 | $80.7M | $730.0M | ||
| Q4 24 | $88.1M | $552.0M | ||
| Q3 24 | $135.8M | $1.1B | ||
| Q2 24 | $173.1M | $854.0M |
毛利率LEARCL
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 47.4% | ||
| Q3 25 | 6.4% | 51.8% | ||
| Q2 25 | 7.3% | 49.7% | ||
| Q1 25 | 6.5% | 48.0% | ||
| Q4 24 | 6.8% | 45.4% | ||
| Q3 24 | 7.3% | 51.1% | ||
| Q2 24 | 7.5% | 47.6% |
营业利润率LEARCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 2.6% | 21.9% | ||
| Q3 25 | 3.4% | 33.1% | ||
| Q2 25 | 4.1% | 29.3% | ||
| Q1 25 | 3.3% | 23.6% | ||
| Q4 24 | 3.7% | 16.6% | ||
| Q3 24 | 3.9% | 33.4% | ||
| Q2 24 | 4.3% | 26.7% |
净利率LEARCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 1.4% | 17.7% | ||
| Q3 25 | 1.9% | 30.6% | ||
| Q2 25 | 2.7% | 26.7% | ||
| Q1 25 | 1.5% | 18.3% | ||
| Q4 24 | 1.5% | 14.7% | ||
| Q3 24 | 2.4% | 22.7% | ||
| Q2 24 | 2.9% | 20.8% |
每股收益（稀释后）LEARCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $1.58 | $2.76 | ||
| Q3 25 | $2.02 | $5.74 | ||
| Q2 25 | $3.06 | $4.41 | ||
| Q1 25 | $1.49 | $2.70 | ||
| Q4 24 | $1.64 | $2.27 | ||
| Q3 24 | $2.41 | $4.21 | ||
| Q2 24 | $3.02 | $3.11 |
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 | $1.0B | $512.0M |
| 总债务越低越好 | $2.7B | $21.1B |
| 股东权益账面价值 | $5.0B | $10.0B |
| 总资产 | $14.8B | $42.0B |
| 负债/权益比越低杠杆越低 | 0.54× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资LEARCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $1.0B | $825.0M | ||
| Q3 25 | $1.0B | $432.0M | ||
| Q2 25 | $887.9M | $735.0M | ||
| Q1 25 | $779.9M | $386.0M | ||
| Q4 24 | $1.1B | $388.0M | ||
| Q3 24 | $763.9M | $418.0M | ||
| Q2 24 | $950.3M | $391.0M |
总债务LEARCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | $2.7B | $18.2B | ||
| Q3 25 | $2.8B | $17.2B | ||
| Q2 25 | $2.8B | $17.6B | ||
| Q1 25 | $2.7B | $18.0B | ||
| Q4 24 | $2.7B | $18.5B | ||
| Q3 24 | $2.8B | $19.0B | ||
| Q2 24 | $2.7B | $19.8B |
股东权益LEARCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $5.0B | $10.0B | ||
| Q3 25 | $5.1B | $10.1B | ||
| Q2 25 | $5.1B | $9.2B | ||
| Q1 25 | $4.7B | $8.0B | ||
| Q4 24 | $4.5B | $7.6B | ||
| Q3 24 | $4.8B | $7.0B | ||
| Q2 24 | $4.8B | $6.0B |
总资产LEARCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $14.8B | $41.6B | ||
| Q3 25 | $15.2B | $40.1B | ||
| Q2 25 | $15.3B | $38.5B | ||
| Q1 25 | $14.6B | $37.5B | ||
| Q4 24 | $14.0B | $37.1B | ||
| Q3 24 | $14.8B | $37.1B | ||
| Q2 24 | $14.7B | $37.0B |
负债/权益比LEARCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | 0.54× | 1.81× | ||
| Q3 25 | 0.54× | 1.70× | ||
| Q2 25 | 0.54× | 1.92× | ||
| Q1 25 | 0.59× | 2.26× | ||
| Q4 24 | 0.61× | 2.44× | ||
| Q3 24 | 0.58× | 2.69× | ||
| Q2 24 | 0.57× | 3.29× |
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 | $475.9M | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $281.1M | — |
| 自由现金流率自由现金流/营收 | 4.7% | — |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 现金转化率经营现金流/净利润 | 5.75× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $527.2M | — |
8季度趋势，按日历期对齐
经营现金流LEARCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $475.9M | $1.6B | ||
| Q3 25 | $444.4M | $1.5B | ||
| Q2 25 | $296.2M | $1.7B | ||
| Q1 25 | $-127.7M | $1.6B | ||
| Q4 24 | $680.8M | $1.5B | ||
| Q3 24 | $182.7M | $897.0M | ||
| Q2 24 | $291.2M | $1.6B |
自由现金流LEARCL
| Q1 26 | — | — | ||
| Q4 25 | $281.1M | $116.0M | ||
| Q3 25 | $307.0M | $-989.0M | ||
| Q2 25 | $170.8M | $910.0M | ||
| Q1 25 | $-231.7M | $1.2B | ||
| Q4 24 | $488.7M | $915.0M | ||
| Q3 24 | $50.5M | $563.0M | ||
| Q2 24 | $170.4M | $-567.0M |
自由现金流率LEARCL
| Q1 26 | — | — | ||
| Q4 25 | 4.7% | 2.7% | ||
| Q3 25 | 5.4% | -19.2% | ||
| Q2 25 | 2.8% | 20.1% | ||
| Q1 25 | -4.2% | 30.0% | ||
| Q4 24 | 8.6% | 24.3% | ||
| Q3 24 | 0.9% | 11.5% | ||
| Q2 24 | 2.8% | -13.8% |
资本支出强度LEARCL
| Q1 26 | — | — | ||
| Q4 25 | 3.3% | 35.4% | ||
| Q3 25 | 2.4% | 47.8% | ||
| Q2 25 | 2.1% | 18.4% | ||
| Q1 25 | 1.9% | 10.7% | ||
| Q4 24 | 3.4% | 14.7% | ||
| Q3 24 | 2.4% | 6.8% | ||
| Q2 24 | 2.0% | 52.1% |
现金转化率LEARCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 5.75× | 2.16× | ||
| Q3 25 | 4.11× | 0.93× | ||
| Q2 25 | 1.79× | 1.44× | ||
| Q1 25 | -1.58× | 2.23× | ||
| Q4 24 | 7.73× | 2.66× | ||
| Q3 24 | 1.35× | 0.81× | ||
| Q2 24 | 1.68× | 1.84× |
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
LEA
| Other | $3.5B | 59% |
| Seating Segment | $1.9B | 32% |
| E Systems Segment | $520.6M | 9% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
