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LPL Financial Holdings Inc.（LPLA）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
LPL Financial Holdings Inc.的季度营收约是皇家加勒比集团的1.2倍（$4.9B vs $4.3B），皇家加勒比集团净利率更高（17.7% vs 6.1%，领先11.6%），LPL Financial Holdings Inc.同比增速更快（40.4% vs 13.3%），LPL Financial Holdings Inc.自由现金流更多（$613.3M vs $116.0M），过去两年LPL Financial Holdings Inc.的营收复合增速更高（32.0% vs 6.9%）
LPL Financial Holdings Inc.成立于1989年，是美国规模最大的独立经纪自营商。截至2021年，公司拥有超17500名财务顾问，咨询及经纪类资产规模超1万亿美元，2023财年总营收约103亿美元，在波士顿、福特米尔、奥斯汀、圣迭戈设有核心办事处，是FINRA和SIPC成员。
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。
LPLA vs RCL — 直观对比
营收规模更大
LPLA
是对方的1.2倍
$4.3B
营收增速更快
LPLA
高出27.2%
13.3%
净利率更高
RCL
高出11.6%
6.1%
自由现金流更多
LPLA
多$497.3M
$116.0M
两年增速更快
LPLA
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.9B | $4.3B |
| 净利润 | $300.7M | $753.0M |
| 毛利率 | — | 47.4% |
| 营业利润率 | 8.1% | 21.9% |
| 净利率 | 6.1% | 17.7% |
| 营收同比 | 40.4% | 13.3% |
| 净利润同比 | 11.1% | 36.4% |
| 每股收益（稀释后） | $3.65 | $2.76 |
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LPLARCL
| Q4 25 | $4.9B | $4.3B | ||
| Q3 25 | $4.6B | $5.1B | ||
| Q2 25 | $3.8B | $4.5B | ||
| Q1 25 | $3.7B | $4.0B | ||
| Q4 24 | $3.5B | $3.8B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $2.9B | $4.1B | ||
| Q1 24 | $2.8B | $3.7B |
净利润LPLARCL
| Q4 25 | $300.7M | $753.0M | ||
| Q3 25 | $-29.5M | $1.6B | ||
| Q2 25 | $273.2M | $1.2B | ||
| Q1 25 | $318.6M | $730.0M | ||
| Q4 24 | $270.7M | $552.0M | ||
| Q3 24 | $255.3M | $1.1B | ||
| Q2 24 | $243.8M | $854.0M | ||
| Q1 24 | $288.8M | $360.0M |
毛利率LPLARCL
| 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% | ||
| Q1 24 | — | 44.8% |
营业利润率LPLARCL
| Q4 25 | 8.1% | 21.9% | ||
| Q3 25 | -0.7% | 33.1% | ||
| Q2 25 | 9.6% | 29.3% | ||
| Q1 25 | 11.4% | 23.6% | ||
| Q4 24 | 9.7% | 16.6% | ||
| Q3 24 | 11.2% | 33.4% | ||
| Q2 24 | 11.3% | 26.7% | ||
| Q1 24 | 13.2% | 20.1% |
净利率LPLARCL
| Q4 25 | 6.1% | 17.7% | ||
| Q3 25 | -0.6% | 30.6% | ||
| Q2 25 | 7.1% | 26.7% | ||
| Q1 25 | 8.7% | 18.3% | ||
| Q4 24 | 7.7% | 14.7% | ||
| Q3 24 | 8.2% | 22.7% | ||
| Q2 24 | 8.3% | 20.8% | ||
| Q1 24 | 10.2% | 9.7% |
每股收益（稀释后）LPLARCL
| Q4 25 | $3.65 | $2.76 | ||
| Q3 25 | $-0.37 | $5.74 | ||
| Q2 25 | $3.40 | $4.41 | ||
| Q1 25 | $4.24 | $2.70 | ||
| Q4 24 | $3.58 | $2.27 | ||
| Q3 24 | $3.39 | $4.21 | ||
| Q2 24 | $3.23 | $3.11 | ||
| Q1 24 | $3.83 | $1.35 |
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 | $825.0M |
| 总债务越低越好 | $7.3B | $18.2B |
| 股东权益账面价值 | $5.3B | $10.0B |
| 总资产 | $18.5B | $41.6B |
| 负债/权益比越低杠杆越低 | 1.36× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资LPLARCL
| Q4 25 | $1.1B | $825.0M | ||
| Q3 25 | $1.6B | $432.0M | ||
| Q2 25 | $4.3B | $735.0M | ||
| Q1 25 | $1.4B | $386.0M | ||
| Q4 24 | $1.0B | $388.0M | ||
| Q3 24 | $1.6B | $418.0M | ||
| Q2 24 | $1.4B | $391.0M | ||
| Q1 24 | $1.2B | $437.0M |
总债务LPLARCL
| Q4 25 | $7.3B | $18.2B | ||
| Q3 25 | $7.5B | $17.2B | ||
| Q2 25 | $7.2B | $17.6B | ||
| Q1 25 | $5.7B | $18.0B | ||
| Q4 24 | $5.5B | $18.5B | ||
| Q3 24 | $4.4B | $19.0B | ||
| Q2 24 | $4.4B | $19.8B | ||
| Q1 24 | $3.9B | $18.9B |
股东权益LPLARCL
| Q4 25 | $5.3B | $10.0B | ||
| Q3 25 | $5.0B | $10.1B | ||
| Q2 25 | $5.1B | $9.2B | ||
| Q1 25 | $3.1B | $8.0B | ||
| Q4 24 | $2.9B | $7.6B | ||
| Q3 24 | $2.8B | $7.0B | ||
| Q2 24 | $2.5B | $6.0B | ||
| Q1 24 | $2.3B | $5.2B |
总资产LPLARCL
| Q4 25 | $18.5B | $41.6B | ||
| Q3 25 | $18.0B | $40.1B | ||
| Q2 25 | $17.5B | $38.5B | ||
| Q1 25 | $14.0B | $37.5B | ||
| Q4 24 | $13.3B | $37.1B | ||
| Q3 24 | $11.9B | $37.1B | ||
| Q2 24 | $11.5B | $37.0B | ||
| Q1 24 | $11.0B | $35.2B |
负债/权益比LPLARCL
| Q4 25 | 1.36× | 1.81× | ||
| Q3 25 | 1.49× | 1.70× | ||
| Q2 25 | 1.41× | 1.92× | ||
| Q1 25 | 1.82× | 2.26× | ||
| Q4 24 | 1.87× | 2.44× | ||
| Q3 24 | 1.60× | 2.69× | ||
| Q2 24 | 1.77× | 3.29× | ||
| Q1 24 | 1.70× | 3.66× |
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 | $785.0M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $613.3M | $116.0M |
| 自由现金流率自由现金流/营收 | 12.4% | 2.7% |
| 资本支出强度资本支出/营收 | 3.5% | 35.4% |
| 现金转化率经营现金流/净利润 | 2.61× | 2.16× |
| 过去12个月自由现金流最近4个季度 | $-981.8M | $1.2B |
8季度趋势，按日历期对齐
经营现金流LPLARCL
| Q4 25 | $785.0M | $1.6B | ||
| Q3 25 | $-1.7B | $1.5B | ||
| Q2 25 | $193.3M | $1.7B | ||
| Q1 25 | $339.8M | $1.6B | ||
| Q4 24 | $-178.8M | $1.5B | ||
| Q3 24 | $209.3M | $897.0M | ||
| Q2 24 | $-178.9M | $1.6B | ||
| Q1 24 | $425.9M | $1.3B |
自由现金流LPLARCL
| Q4 25 | $613.3M | $116.0M | ||
| Q3 25 | $-1.9B | $-989.0M | ||
| Q2 25 | $56.3M | $910.0M | ||
| Q1 25 | $220.3M | $1.2B | ||
| Q4 24 | $-344.3M | $915.0M | ||
| Q3 24 | $62.3M | $563.0M | ||
| Q2 24 | $-307.8M | $-567.0M | ||
| Q1 24 | $304.9M | $1.1B |
自由现金流率LPLARCL
| Q4 25 | 12.4% | 2.7% | ||
| Q3 25 | -41.1% | -19.2% | ||
| Q2 25 | 1.5% | 20.1% | ||
| Q1 25 | 6.0% | 30.0% | ||
| Q4 24 | -9.8% | 24.3% | ||
| Q3 24 | 2.0% | 11.5% | ||
| Q2 24 | -10.5% | -13.8% | ||
| Q1 24 | 10.8% | 29.1% |
资本支出强度LPLARCL
| Q4 25 | 3.5% | 35.4% | ||
| Q3 25 | 3.1% | 47.8% | ||
| Q2 25 | 3.6% | 18.4% | ||
| Q1 25 | 3.3% | 10.7% | ||
| Q4 24 | 4.7% | 14.7% | ||
| Q3 24 | 4.7% | 6.8% | ||
| Q2 24 | 4.4% | 52.1% | ||
| Q1 24 | 4.3% | 6.5% |
现金转化率LPLARCL
| Q4 25 | 2.61× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | 0.71× | 1.44× | ||
| Q1 25 | 1.07× | 2.23× | ||
| Q4 24 | -0.66× | 2.66× | ||
| Q3 24 | 0.82× | 0.81× | ||
| Q2 24 | -0.73× | 1.84× | ||
| Q1 24 | 1.47× | 3.69× |
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
LPLA
暂无分部数据
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
