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LINDBLAD EXPEDITIONS HOLDINGS, INC.（LIND）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是LINDBLAD EXPEDITIONS HOLDINGS, INC.的1.1倍（$193.5M vs $183.2M），LINDBLAD EXPEDITIONS HOLDINGS, INC.同比增速更快（23.3% vs 2.8%），MARCUS CORP自由现金流更多（$26.4M vs $3.5M），过去两年MARCUS CORP的营收复合增速更高（18.2% vs 9.2%）
林德布拉德探险控股是一家专业探险旅行企业，总部位于美国纽约。目前公司运营15艘探险邮轮，载客量从28人到150人不等，可为旅行者提供覆盖全球七大洲目的地的探险邮轮旅程。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
LIND vs MCS — 直观对比
营收规模更大
MCS
是对方的1.1倍
$183.2M
营收增速更快
LIND
高出20.5%
2.8%
自由现金流更多
MCS
多$22.9M
$3.5M
两年增速更快
MCS
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $193.5M |
| 净利润 | $-23.6M | — |
| 毛利率 | 40.3% | — |
| 营业利润率 | -3.0% | 0.9% |
| 净利率 | -12.9% | — |
| 营收同比 | 23.3% | 2.8% |
| 净利润同比 | 6.0% | — |
| 每股收益（稀释后） | $-0.45 | — |
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LINDMCS
| Q4 25 | $183.2M | $193.5M | ||
| Q3 25 | $240.2M | $210.2M | ||
| Q2 25 | $167.9M | $206.0M | ||
| Q1 25 | $179.7M | $148.8M | ||
| Q4 24 | $148.6M | $188.3M | ||
| Q3 24 | $206.0M | $232.7M | ||
| Q2 24 | $136.5M | $176.0M | ||
| Q1 24 | $153.6M | $138.5M |
净利润LINDMCS
| Q4 25 | $-23.6M | — | ||
| Q3 25 | $1.2M | $16.2M | ||
| Q2 25 | $-8.5M | $7.3M | ||
| Q1 25 | $1.2M | $-16.8M | ||
| Q4 24 | $-25.0M | $986.0K | ||
| Q3 24 | $22.5M | $23.3M | ||
| Q2 24 | $-24.7M | $-20.2M | ||
| Q1 24 | $-4.0M | $-11.9M |
毛利率LINDMCS
| Q4 25 | 40.3% | — | ||
| Q3 25 | 48.2% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 48.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 46.7% | — | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 45.0% | — |
营业利润率LINDMCS
| Q4 25 | -3.0% | 0.9% | ||
| Q3 25 | 15.0% | 10.8% | ||
| Q2 25 | 2.6% | 6.3% | ||
| Q1 25 | 5.9% | -13.7% | ||
| Q4 24 | -5.1% | -1.2% | ||
| Q3 24 | 14.3% | 14.1% | ||
| Q2 24 | -6.0% | 1.3% | ||
| Q1 24 | 5.1% | -12.0% |
净利率LINDMCS
| Q4 25 | -12.9% | — | ||
| Q3 25 | 0.5% | 7.7% | ||
| Q2 25 | -5.1% | 3.6% | ||
| Q1 25 | 0.6% | -11.3% | ||
| Q4 24 | -16.9% | 0.5% | ||
| Q3 24 | 10.9% | 10.0% | ||
| Q2 24 | -18.1% | -11.5% | ||
| Q1 24 | -2.6% | -8.6% |
每股收益（稀释后）LINDMCS
| Q4 25 | $-0.45 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.18 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $-0.45 | — | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $-0.48 | — | ||
| Q1 24 | $-0.10 | — |
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 | $256.7M | $23.4M |
| 总债务越低越好 | $662.7M | $159.0M |
| 股东权益账面价值 | $-284.5M | $457.4M |
| 总资产 | $980.0M | $1.0B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资LINDMCS
| Q4 25 | $256.7M | $23.4M | ||
| Q3 25 | $261.8M | $7.4M | ||
| Q2 25 | $200.9M | $14.9M | ||
| Q1 25 | $188.9M | $11.9M | ||
| Q4 24 | $183.9M | $40.8M | ||
| Q3 24 | $193.9M | $28.4M | ||
| Q2 24 | $168.1M | $32.8M | ||
| Q1 24 | $177.7M | $17.3M |
总债务LINDMCS
| Q4 25 | $662.7M | $159.0M | ||
| Q3 25 | $663.5M | $162.0M | ||
| Q2 25 | $627.3M | $179.9M | ||
| Q1 25 | $626.4M | $198.9M | ||
| Q4 24 | $625.5M | $159.1M | ||
| Q3 24 | $624.5M | $173.1M | ||
| Q2 24 | $623.6M | $175.7M | ||
| Q1 24 | $622.7M | $169.8M |
股东权益LINDMCS
| Q4 25 | $-284.5M | $457.4M | ||
| Q3 25 | $-256.6M | $454.3M | ||
| Q2 25 | $-263.8M | $448.4M | ||
| Q1 25 | $-252.2M | $441.8M | ||
| Q4 24 | $-253.1M | $464.9M | ||
| Q3 24 | $-226.9M | $462.3M | ||
| Q2 24 | $-255.5M | $449.4M | ||
| Q1 24 | $-227.4M | $459.3M |
总资产LINDMCS
| Q4 25 | $980.0M | $1.0B | ||
| Q3 25 | $976.5M | $1.0B | ||
| Q2 25 | $936.5M | $1.0B | ||
| Q1 25 | $908.8M | $1.0B | ||
| Q4 24 | $876.9M | $1.0B | ||
| Q3 24 | $889.8M | $1.0B | ||
| Q2 24 | $858.3M | $1.1B | ||
| Q1 24 | $868.0M | $1.0B |
负债/权益比LINDMCS
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 0.37× |
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 | $14.4M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $3.5M | $26.4M |
| 自由现金流率自由现金流/营收 | 1.9% | 13.6% |
| 资本支出强度资本支出/营收 | 6.0% | 11.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $63.8M | $989.0K |
8季度趋势，按日历期对齐
经营现金流LINDMCS
| Q4 25 | $14.4M | $48.8M | ||
| Q3 25 | $19.5M | $39.1M | ||
| Q2 25 | $29.2M | $31.6M | ||
| Q1 25 | $48.4M | $-35.3M | ||
| Q4 24 | $1.7M | $52.6M | ||
| Q3 24 | $28.1M | $30.5M | ||
| Q2 24 | $18.6M | $36.0M | ||
| Q1 24 | $43.9M | $-15.1M |
自由现金流LINDMCS
| Q4 25 | $3.5M | $26.4M | ||
| Q3 25 | $11.9M | $18.2M | ||
| Q2 25 | $13.5M | $14.7M | ||
| Q1 25 | $35.0M | $-58.3M | ||
| Q4 24 | $-8.2M | $27.1M | ||
| Q3 24 | $18.4M | $12.0M | ||
| Q2 24 | $11.2M | $16.1M | ||
| Q1 24 | $37.4M | $-30.5M |
自由现金流率LINDMCS
| Q4 25 | 1.9% | 13.6% | ||
| Q3 25 | 5.0% | 8.7% | ||
| Q2 25 | 8.0% | 7.1% | ||
| Q1 25 | 19.5% | -39.2% | ||
| Q4 24 | -5.5% | 14.4% | ||
| Q3 24 | 8.9% | 5.2% | ||
| Q2 24 | 8.2% | 9.2% | ||
| Q1 24 | 24.4% | -22.0% |
资本支出强度LINDMCS
| Q4 25 | 6.0% | 11.6% | ||
| Q3 25 | 3.2% | 9.9% | ||
| Q2 25 | 9.4% | 8.2% | ||
| Q1 25 | 7.5% | 15.5% | ||
| Q4 24 | 6.6% | 13.5% | ||
| Q3 24 | 4.7% | 7.9% | ||
| Q2 24 | 5.4% | 11.3% | ||
| Q1 24 | 4.2% | 11.1% |
现金转化率LINDMCS
| Q4 25 | — | — | ||
| Q3 25 | 16.41× | 2.41× | ||
| Q2 25 | — | 4.32× | ||
| Q1 25 | 41.69× | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | 1.25× | 1.31× | ||
| Q2 24 | — | — | ||
| 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
LIND
| Guest Ticket | $96.5M | 53% |
| Landexperience | $67.3M | 37% |
| Other Tour | $19.4M | 11% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
