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诺唯真游轮控股（LINE）与Trade Desk (The)（TTD）财务数据对比。点击上方公司名可切换其他公司
诺唯真游轮控股的季度营收约是Trade Desk (The)的1.6倍（$1.4B vs $846.8M），Trade Desk (The)净利率更高（22.1% vs -7.3%，领先29.3%），Trade Desk (The)同比增速更快（14.3% vs 3.1%），Trade Desk (The)自由现金流更多（$285.3M vs $35.0M）
诺唯真游轮控股是一家总部位于美国、注册地为百慕大的企业，旗下全资运营诺唯真游轮、大洋游轮、丽晶七海游轮三大品牌，合并业务规模位列全球游轮运营商第三位，目前在纽约证券交易所挂牌上市。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
LINE vs TTD — 直观对比
营收规模更大
LINE
是对方的1.6倍
$846.8M
营收增速更快
TTD
高出11.1%
3.1%
净利率更高
TTD
高出29.3%
-7.3%
自由现金流更多
TTD
多$250.3M
$35.0M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $846.8M |
| 净利润 | $-100.0M | $186.9M |
| 毛利率 | 32.3% | 80.7% |
| 营业利润率 | 2.5% | 30.3% |
| 净利率 | -7.3% | 22.1% |
| 营收同比 | 3.1% | 14.3% |
| 净利润同比 | 79.4% | 2.6% |
| 每股收益（稀释后） | $-0.44 | $0.39 |
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LINETTD
| Q4 25 | — | $846.8M | ||
| Q3 25 | $1.4B | $739.4M | ||
| Q2 25 | $1.4B | $694.0M | ||
| Q1 25 | $1.3B | $616.0M | ||
| Q4 24 | $1.3B | $741.0M | ||
| Q3 24 | $1.3B | $628.0M | ||
| Q2 24 | $1.3B | $584.5M | ||
| Q1 24 | $1.3B | $491.3M |
净利润LINETTD
| Q4 25 | — | $186.9M | ||
| Q3 25 | $-100.0M | $115.5M | ||
| Q2 25 | $-6.0M | $90.1M | ||
| Q1 25 | $0 | $50.7M | ||
| Q4 24 | $-71.0M | $182.2M | ||
| Q3 24 | $-485.0M | $94.2M | ||
| Q2 24 | $-68.0M | $85.0M | ||
| Q1 24 | $-40.0M | $31.7M |
毛利率LINETTD
| Q4 25 | — | 80.7% | ||
| Q3 25 | 32.3% | 78.1% | ||
| Q2 25 | 31.9% | 78.2% | ||
| Q1 25 | 32.2% | 76.8% | ||
| Q4 24 | 32.3% | 81.7% | ||
| Q3 24 | 32.8% | 80.5% | ||
| Q2 24 | 33.4% | 81.1% | ||
| Q1 24 | 33.4% | 78.9% |
营业利润率LINETTD
| Q4 25 | — | 30.3% | ||
| Q3 25 | 2.5% | 21.8% | ||
| Q2 25 | 1.7% | 16.8% | ||
| Q1 25 | 4.3% | 8.8% | ||
| Q4 24 | -1.6% | 26.4% | ||
| Q3 24 | -38.6% | 17.3% | ||
| Q2 24 | 5.5% | 16.2% | ||
| Q1 24 | 7.6% | 5.8% |
净利率LINETTD
| Q4 25 | — | 22.1% | ||
| Q3 25 | -7.3% | 15.6% | ||
| Q2 25 | -0.4% | 13.0% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | -5.3% | 24.6% | ||
| Q3 24 | -36.3% | 15.0% | ||
| Q2 24 | -5.1% | 14.5% | ||
| Q1 24 | -3.0% | 6.4% |
每股收益（稀释后）LINETTD
| Q4 25 | — | $0.39 | ||
| Q3 25 | $-0.44 | $0.23 | ||
| Q2 25 | $-0.03 | $0.18 | ||
| Q1 25 | $0.01 | $0.10 | ||
| Q4 24 | $-0.52 | $0.36 | ||
| Q3 24 | $-2.44 | $0.19 | ||
| Q2 24 | $-0.46 | $0.17 | ||
| Q1 24 | $-0.28 | $0.06 |
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 | — | $1.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $8.4B | $2.5B |
| 总资产 | $19.2B | $6.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LINETTD
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $173.0M | $1.9B | ||
| Q3 24 | $409.0M | $1.7B | ||
| Q2 24 | $73.0M | $1.5B | ||
| Q1 24 | — | $1.4B |
股东权益LINETTD
| Q4 25 | — | $2.5B | ||
| Q3 25 | $8.4B | $2.6B | ||
| Q2 25 | $8.6B | $2.7B | ||
| Q1 25 | $8.6B | $2.7B | ||
| Q4 24 | $8.6B | $2.9B | ||
| Q3 24 | $9.0B | $2.6B | ||
| Q2 24 | $4.9B | $2.4B | ||
| Q1 24 | $5.6B | $2.2B |
总资产LINETTD
| Q4 25 | — | $6.2B | ||
| Q3 25 | $19.2B | $5.9B | ||
| Q2 25 | $19.4B | $6.0B | ||
| Q1 25 | $18.8B | $5.7B | ||
| Q4 24 | $18.7B | $6.1B | ||
| Q3 24 | $19.3B | $5.5B | ||
| Q2 24 | $18.8B | $5.2B | ||
| Q1 24 | — | $4.7B |
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 | $230.0M | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $35.0M | $285.3M |
| 自由现金流率自由现金流/营收 | 2.5% | 33.7% |
| 资本支出强度资本支出/营收 | 14.2% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | — | $795.7M |
8季度趋势，按日历期对齐
经营现金流LINETTD
| Q4 25 | — | $311.6M | ||
| Q3 25 | $230.0M | $224.7M | ||
| Q2 25 | $258.0M | $165.0M | ||
| Q1 25 | $139.0M | $291.4M | ||
| Q4 24 | — | $199.4M | ||
| Q3 24 | $186.0M | $273.3M | ||
| Q2 24 | $155.0M | $81.3M | ||
| Q1 24 | $105.0M | $185.5M |
自由现金流LINETTD
| Q4 25 | — | $285.3M | ||
| Q3 25 | $35.0M | $158.3M | ||
| Q2 25 | $95.0M | $119.8M | ||
| Q1 25 | $-12.0M | $232.3M | ||
| Q4 24 | — | $179.2M | ||
| Q3 24 | $33.0M | $224.6M | ||
| Q2 24 | $-31.0M | $59.1M | ||
| Q1 24 | $-42.0M | $178.2M |
自由现金流率LINETTD
| Q4 25 | — | 33.7% | ||
| Q3 25 | 2.5% | 21.4% | ||
| Q2 25 | 7.0% | 17.3% | ||
| Q1 25 | -0.9% | 37.7% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | 2.5% | 35.8% | ||
| Q2 24 | -2.3% | 10.1% | ||
| Q1 24 | -3.2% | 36.3% |
资本支出强度LINETTD
| Q4 25 | — | 3.1% | ||
| Q3 25 | 14.2% | 9.0% | ||
| Q2 25 | 12.1% | 6.5% | ||
| Q1 25 | 11.7% | 9.6% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 11.5% | 7.8% | ||
| Q2 24 | 13.9% | 3.8% | ||
| Q1 24 | 11.1% | 1.5% |
现金转化率LINETTD
| Q4 25 | — | 1.67× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | — | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 5.86× |
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
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
