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林德（LIN）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
林德的季度营收约是皇家加勒比集团的2.0倍（$8.8B vs $4.5B），皇家加勒比集团净利率更高（21.3% vs 17.5%，领先3.9%），皇家加勒比集团同比增速更快（11.3% vs 5.8%），过去两年皇家加勒比集团的营收复合增速更高（4.1% vs 4.0%）
林德是全球知名跨国化工企业，按市场份额及营收计为全球最大工业气体供应商。公司1879年由德国科学家、工程师卡尔·冯·林德在德国威斯巴登创立，现总部位于英国沃金，在爱尔兰注册，2018年由原林德股份公司与1907年在美国成立的普莱克斯合并组建。
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。
LIN vs RCL — 直观对比
营收规模更大
LIN
是对方的2.0倍
$4.5B
营收增速更快
RCL
高出5.5%
5.8%
净利率更高
RCL
高出3.9%
17.5%
两年增速更快
RCL
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $8.8B | $4.5B |
| 净利润 | $1.5B | $950.0M |
| 毛利率 | — | — |
| 营业利润率 | 23.0% | 26.1% |
| 净利率 | 17.5% | 21.3% |
| 营收同比 | 5.8% | 11.3% |
| 净利润同比 | -11.3% | 29.1% |
| 每股收益（稀释后） | $3.28 | $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LINRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $8.8B | $4.3B | ||
| Q3 25 | $8.6B | $5.1B | ||
| Q2 25 | $8.5B | $4.5B | ||
| Q1 25 | $8.1B | $4.0B | ||
| Q4 24 | $8.3B | $3.8B | ||
| Q3 24 | $8.4B | $4.9B | ||
| Q2 24 | $8.3B | $4.1B |
净利润LINRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $1.5B | $753.0M | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.7B | $730.0M | ||
| Q4 24 | $1.7B | $552.0M | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.7B | $854.0M |
毛利率LINRCL
| Q1 26 | — | — | ||
| 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% |
营业利润率LINRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 23.0% | 21.9% | ||
| Q3 25 | 27.5% | 33.1% | ||
| Q2 25 | 27.7% | 29.3% | ||
| Q1 25 | 26.9% | 23.6% | ||
| Q4 24 | 27.4% | 16.6% | ||
| Q3 24 | 25.0% | 33.4% | ||
| Q2 24 | 26.4% | 26.7% |
净利率LINRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 17.5% | 17.7% | ||
| Q3 25 | 22.4% | 30.6% | ||
| Q2 25 | 20.8% | 26.7% | ||
| Q1 25 | 20.6% | 18.3% | ||
| Q4 24 | 20.8% | 14.7% | ||
| Q3 24 | 18.5% | 22.7% | ||
| Q2 24 | 20.1% | 20.8% |
每股收益（稀释后）LINRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $3.28 | $2.76 | ||
| Q3 25 | $4.09 | $5.74 | ||
| Q2 25 | $3.73 | $4.41 | ||
| Q1 25 | $3.51 | $2.70 | ||
| Q4 24 | $3.61 | $2.27 | ||
| Q3 24 | $3.22 | $4.21 | ||
| Q2 24 | $3.44 | $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 | $5.1B | $512.0M |
| 总债务越低越好 | $20.7B | $21.1B |
| 股东权益账面价值 | $38.2B | $10.0B |
| 总资产 | $86.8B | $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LINRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $5.1B | $825.0M | ||
| Q3 25 | $4.5B | $432.0M | ||
| Q2 25 | $4.8B | $735.0M | ||
| Q1 25 | $5.3B | $386.0M | ||
| Q4 24 | $4.8B | $388.0M | ||
| Q3 24 | $5.2B | $418.0M | ||
| Q2 24 | $4.6B | $391.0M |
总债务LINRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | $20.7B | $18.2B | ||
| Q3 25 | $18.6B | $17.2B | ||
| Q2 25 | $19.7B | $17.6B | ||
| Q1 25 | $17.6B | $18.0B | ||
| Q4 24 | $15.3B | $18.5B | ||
| Q3 24 | $17.5B | $19.0B | ||
| Q2 24 | $16.9B | $19.8B |
股东权益LINRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $38.2B | $10.0B | ||
| Q3 25 | $38.6B | $10.1B | ||
| Q2 25 | $38.5B | $9.2B | ||
| Q1 25 | $38.0B | $8.0B | ||
| Q4 24 | $38.1B | $7.6B | ||
| Q3 24 | $39.2B | $7.0B | ||
| Q2 24 | $38.2B | $6.0B |
总资产LINRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $86.8B | $41.6B | ||
| Q3 25 | $86.0B | $40.1B | ||
| Q2 25 | $86.1B | $38.5B | ||
| Q1 25 | $82.7B | $37.5B | ||
| Q4 24 | $80.1B | $37.1B | ||
| Q3 24 | $82.5B | $37.1B | ||
| Q2 24 | $80.2B | $37.0B |
负债/权益比LINRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | 0.54× | 1.81× | ||
| Q3 25 | 0.48× | 1.70× | ||
| Q2 25 | 0.51× | 1.92× | ||
| Q1 25 | 0.46× | 2.26× | ||
| Q4 24 | 0.40× | 2.44× | ||
| Q3 24 | 0.45× | 2.69× | ||
| Q2 24 | 0.44× | 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 | $3.0B | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $1.6B | — |
| 自由现金流率自由现金流/营收 | 17.9% | — |
| 资本支出强度资本支出/营收 | 16.6% | — |
| 现金转化率经营现金流/净利润 | 1.98× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $5.1B | — |
8季度趋势，按日历期对齐
经营现金流LINRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $3.0B | $1.6B | ||
| Q3 25 | $2.9B | $1.5B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $2.2B | $1.6B | ||
| Q4 24 | $2.8B | $1.5B | ||
| Q3 24 | $2.7B | $897.0M | ||
| Q2 24 | $1.9B | $1.6B |
自由现金流LINRCL
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $116.0M | ||
| Q3 25 | $1.7B | $-989.0M | ||
| Q2 25 | $954.0M | $910.0M | ||
| Q1 25 | $891.0M | $1.2B | ||
| Q4 24 | $1.6B | $915.0M | ||
| Q3 24 | $1.7B | $563.0M | ||
| Q2 24 | $796.0M | $-567.0M |
自由现金流率LINRCL
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 2.7% | ||
| Q3 25 | 19.4% | -19.2% | ||
| Q2 25 | 11.2% | 20.1% | ||
| Q1 25 | 11.0% | 30.0% | ||
| Q4 24 | 18.8% | 24.3% | ||
| Q3 24 | 19.9% | 11.5% | ||
| Q2 24 | 9.6% | -13.8% |
资本支出强度LINRCL
| Q1 26 | — | — | ||
| Q4 25 | 16.6% | 35.4% | ||
| Q3 25 | 14.8% | 47.8% | ||
| Q2 25 | 14.8% | 18.4% | ||
| Q1 25 | 15.7% | 10.7% | ||
| Q4 24 | 15.1% | 14.7% | ||
| Q3 24 | 12.8% | 6.8% | ||
| Q2 24 | 13.7% | 52.1% |
现金转化率LINRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 1.98× | 2.16× | ||
| Q3 25 | 1.53× | 0.93× | ||
| Q2 25 | 1.25× | 1.44× | ||
| Q1 25 | 1.29× | 2.23× | ||
| Q4 24 | 1.63× | 2.66× | ||
| Q3 24 | 1.76× | 0.81× | ||
| Q2 24 | 1.16× | 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
LIN
| Other | $4.9B | 56% |
| Packaged Gas | $1.6B | 19% |
| Merchant | $1.2B | 14% |
| On Site | $950.0M | 11% |
| Other Distribution Methods | $64.0M | 1% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
