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切尼尔能源（LNG）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
切尼尔能源的季度营收约是皇家加勒比集团的1.2倍（$5.4B vs $4.5B），切尼尔能源净利率更高（42.8% vs 21.3%，领先21.5%），切尼尔能源同比增速更快（20.3% vs 11.3%），过去两年切尼尔能源的营收复合增速更高（14.3% vs 4.1%）
切尼尔能源（Cheniere Energy, Inc.）是总部位于美国得克萨斯州休斯敦的液化天然气（LNG）企业，专注于液化天然气的生产与供应业务，是北美地区颇具影响力的能源行业参与者。
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。
LNG vs RCL — 直观对比
营收规模更大
LNG
是对方的1.2倍
$4.5B
营收增速更快
LNG
高出8.9%
11.3%
净利率更高
LNG
高出21.5%
21.3%
两年增速更快
LNG
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $4.5B |
| 净利润 | $2.3B | $950.0M |
| 毛利率 | — | — |
| 营业利润率 | 70.8% | 26.1% |
| 净利率 | 42.8% | 21.3% |
| 营收同比 | 20.3% | 11.3% |
| 净利润同比 | 135.6% | 29.1% |
| 每股收益（稀释后） | $10.51 | $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LNGRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $5.4B | $4.3B | ||
| Q3 25 | $4.3B | $5.1B | ||
| Q2 25 | $4.5B | $4.5B | ||
| Q1 25 | $5.3B | $4.0B | ||
| Q4 24 | $4.5B | $3.8B | ||
| Q3 24 | $3.7B | $4.9B | ||
| Q2 24 | $3.1B | $4.1B |
净利润LNGRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $2.3B | $753.0M | ||
| Q3 25 | $1.0B | $1.6B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $353.0M | $730.0M | ||
| Q4 24 | $977.0M | $552.0M | ||
| Q3 24 | $893.0M | $1.1B | ||
| Q2 24 | $880.0M | $854.0M |
毛利率LNGRCL
| 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LNGRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 70.8% | 21.9% | ||
| Q3 25 | 42.3% | 33.1% | ||
| Q2 25 | 56.1% | 29.3% | ||
| Q1 25 | 18.2% | 23.6% | ||
| Q4 24 | 38.9% | 16.6% | ||
| Q3 24 | 44.7% | 33.4% | ||
| Q2 24 | 50.5% | 26.7% |
净利率LNGRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 42.8% | 17.7% | ||
| Q3 25 | 24.4% | 30.6% | ||
| Q2 25 | 36.1% | 26.7% | ||
| Q1 25 | 6.7% | 18.3% | ||
| Q4 24 | 21.9% | 14.7% | ||
| Q3 24 | 24.2% | 22.7% | ||
| Q2 24 | 28.0% | 20.8% |
每股收益（稀释后）LNGRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | $10.51 | $2.76 | ||
| Q3 25 | $4.75 | $5.74 | ||
| Q2 25 | $7.30 | $4.41 | ||
| Q1 25 | $1.57 | $2.70 | ||
| Q4 24 | $4.30 | $2.27 | ||
| Q3 24 | $3.93 | $4.21 | ||
| Q2 24 | $3.84 | $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 | $1.1B | $512.0M |
| 总债务越低越好 | $22.5B | $21.1B |
| 股东权益账面价值 | $7.9B | $10.0B |
| 总资产 | $47.9B | $42.0B |
| 负债/权益比越低杠杆越低 | 2.84× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资LNGRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $1.1B | $825.0M | ||
| Q3 25 | $1.1B | $432.0M | ||
| Q2 25 | $1.6B | $735.0M | ||
| Q1 25 | $2.5B | $386.0M | ||
| Q4 24 | $2.6B | $388.0M | ||
| Q3 24 | $2.7B | $418.0M | ||
| Q2 24 | $2.4B | $391.0M |
总债务LNGRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | $22.5B | $18.2B | ||
| Q3 25 | $22.0B | $17.2B | ||
| Q2 25 | $22.0B | $17.6B | ||
| Q1 25 | $22.5B | $18.0B | ||
| Q4 24 | $22.6B | $18.5B | ||
| Q3 24 | $22.5B | $19.0B | ||
| Q2 24 | $22.6B | $19.8B |
股东权益LNGRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $7.9B | $10.0B | ||
| Q3 25 | $6.7B | $10.1B | ||
| Q2 25 | $6.7B | $9.2B | ||
| Q1 25 | $5.6B | $8.0B | ||
| Q4 24 | $5.7B | $7.6B | ||
| Q3 24 | $5.1B | $7.0B | ||
| Q2 24 | $4.5B | $6.0B |
总资产LNGRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $47.9B | $41.6B | ||
| Q3 25 | $45.1B | $40.1B | ||
| Q2 25 | $44.6B | $38.5B | ||
| Q1 25 | $43.5B | $37.5B | ||
| Q4 24 | $43.9B | $37.1B | ||
| Q3 24 | $43.1B | $37.1B | ||
| Q2 24 | $42.3B | $37.0B |
负债/权益比LNGRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | 2.84× | 1.81× | ||
| Q3 25 | 3.25× | 1.70× | ||
| Q2 25 | 3.28× | 1.92× | ||
| Q1 25 | 4.03× | 2.26× | ||
| Q4 24 | 3.96× | 2.44× | ||
| Q3 24 | 4.42× | 2.69× | ||
| Q2 24 | 5.06× | 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 | $2.1B | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | — |
| 自由现金流率自由现金流/营收 | 24.4% | — |
| 资本支出强度资本支出/营收 | 13.8% | — |
| 现金转化率经营现金流/净利润 | 0.89× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $2.5B | — |
8季度趋势，按日历期对齐
经营现金流LNGRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $831.0M | $1.7B | ||
| Q1 25 | $1.2B | $1.6B | ||
| Q4 24 | $1.6B | $1.5B | ||
| Q3 24 | $1.4B | $897.0M | ||
| Q2 24 | $1.1B | $1.6B |
自由现金流LNGRCL
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $116.0M | ||
| Q3 25 | $738.0M | $-989.0M | ||
| Q2 25 | $-193.0M | $910.0M | ||
| Q1 25 | $605.0M | $1.2B | ||
| Q4 24 | $1.1B | $915.0M | ||
| Q3 24 | $875.0M | $563.0M | ||
| Q2 24 | $613.0M | $-567.0M |
自由现金流率LNGRCL
| Q1 26 | — | — | ||
| Q4 25 | 24.4% | 2.7% | ||
| Q3 25 | 17.2% | -19.2% | ||
| Q2 25 | -4.3% | 20.1% | ||
| Q1 25 | 11.4% | 30.0% | ||
| Q4 24 | 24.0% | 24.3% | ||
| Q3 24 | 23.8% | 11.5% | ||
| Q2 24 | 19.5% | -13.8% |
资本支出强度LNGRCL
| Q1 26 | — | — | ||
| Q4 25 | 13.8% | 35.4% | ||
| Q3 25 | 16.0% | 47.8% | ||
| Q2 25 | 22.7% | 18.4% | ||
| Q1 25 | 11.8% | 10.7% | ||
| Q4 24 | 12.7% | 14.7% | ||
| Q3 24 | 14.0% | 6.8% | ||
| Q2 24 | 16.0% | 52.1% |
现金转化率LNGRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 0.89× | 2.16× | ||
| Q3 25 | 1.36× | 0.93× | ||
| Q2 25 | 0.51× | 1.44× | ||
| Q1 25 | 3.48× | 2.23× | ||
| Q4 24 | 1.68× | 2.66× | ||
| Q3 24 | 1.56× | 0.81× | ||
| Q2 24 | 1.27× | 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
LNG
| Liquefied Natural Gas | $5.3B | 99% |
| Other | $103.0M | 2% |
| Regasification Service | $34.0M | 1% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
