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西南航空（LUV）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
西南航空的季度营收约是皇家加勒比集团的1.6倍（$7.2B vs $4.5B），皇家加勒比集团净利率更高（21.3% vs 3.1%，领先18.2%），西南航空同比增速更快（12.8% vs 11.3%），过去两年皇家加勒比集团的营收复合增速更高（4.1% vs -0.7%）
西南航空是美国知名低成本航空公司，总部位于得克萨斯州达拉斯市洛夫菲尔德片区。截至2024年，按客运量计算其为北美第四大航空公司，旗下机队全部采用波音737机型，运营航线覆盖美国42个州、华盛顿哥伦比亚特区的100余个目的地。
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。
LUV vs RCL — 直观对比
营收规模更大
LUV
是对方的1.6倍
$4.5B
营收增速更快
LUV
高出1.4%
11.3%
净利率更高
RCL
高出18.2%
3.1%
两年增速更快
RCL
近两年复合增速
-0.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $7.2B | $4.5B |
| 净利润 | $227.0M | $950.0M |
| 毛利率 | — | — |
| 营业利润率 | 4.6% | 26.1% |
| 净利率 | 3.1% | 21.3% |
| 营收同比 | 12.8% | 11.3% |
| 净利润同比 | — | 29.1% |
| 每股收益（稀释后） | $0.45 | $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LUVRCL
| Q1 26 | $7.2B | $4.5B | ||
| Q4 25 | $7.4B | $4.3B | ||
| Q3 25 | $6.9B | $5.1B | ||
| Q2 25 | $7.2B | $4.5B | ||
| Q1 25 | $6.4B | $4.0B | ||
| Q4 24 | $6.9B | $3.8B | ||
| Q3 24 | $6.9B | $4.9B | ||
| Q2 24 | $7.4B | $4.1B |
净利润LUVRCL
| Q1 26 | $227.0M | $950.0M | ||
| Q4 25 | $323.0M | $753.0M | ||
| Q3 25 | $54.0M | $1.6B | ||
| Q2 25 | $213.0M | $1.2B | ||
| Q1 25 | $-149.0M | $730.0M | ||
| Q4 24 | $262.0M | $552.0M | ||
| Q3 24 | $67.0M | $1.1B | ||
| Q2 24 | $367.0M | $854.0M |
毛利率LUVRCL
| 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LUVRCL
| Q1 26 | 4.6% | 26.1% | ||
| Q4 25 | 5.3% | 21.9% | ||
| Q3 25 | 0.5% | 33.1% | ||
| Q2 25 | 3.1% | 29.3% | ||
| Q1 25 | -3.5% | 23.6% | ||
| Q4 24 | 4.0% | 16.6% | ||
| Q3 24 | 0.6% | 33.4% | ||
| Q2 24 | 5.4% | 26.7% |
净利率LUVRCL
| Q1 26 | 3.1% | 21.3% | ||
| Q4 25 | 4.3% | 17.7% | ||
| Q3 25 | 0.8% | 30.6% | ||
| Q2 25 | 2.9% | 26.7% | ||
| Q1 25 | -2.3% | 18.3% | ||
| Q4 24 | 3.8% | 14.7% | ||
| Q3 24 | 1.0% | 22.7% | ||
| Q2 24 | 5.0% | 20.8% |
每股收益（稀释后）LUVRCL
| Q1 26 | $0.45 | $3.48 | ||
| Q4 25 | $0.56 | $2.76 | ||
| Q3 25 | $0.10 | $5.74 | ||
| Q2 25 | $0.39 | $4.41 | ||
| Q1 25 | $-0.26 | $2.70 | ||
| Q4 24 | $0.46 | $2.27 | ||
| Q3 24 | $0.11 | $4.21 | ||
| Q2 24 | $0.58 | $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 | $3.3B | $512.0M |
| 总债务越低越好 | $5.4B | $21.1B |
| 股东权益账面价值 | $6.9B | $10.0B |
| 总资产 | $20.4B | $42.0B |
| 负债/权益比越低杠杆越低 | 0.78× | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资LUVRCL
| Q1 26 | $3.3B | $512.0M | ||
| Q4 25 | $3.2B | $825.0M | ||
| Q3 25 | $3.0B | $432.0M | ||
| Q2 25 | $3.8B | $735.0M | ||
| Q1 25 | $8.3B | $386.0M | ||
| Q4 24 | $8.7B | $388.0M | ||
| Q3 24 | $9.4B | $418.0M | ||
| Q2 24 | $10.0B | $391.0M |
总债务LUVRCL
| Q1 26 | $5.4B | $21.1B | ||
| Q4 25 | $4.6B | $18.2B | ||
| Q3 25 | $4.1B | $17.2B | ||
| Q2 25 | $4.1B | $17.6B | ||
| Q1 25 | $4.1B | $18.0B | ||
| Q4 24 | $5.1B | $18.5B | ||
| Q3 24 | $5.1B | $19.0B | ||
| Q2 24 | $5.1B | $19.8B |
股东权益LUVRCL
| Q1 26 | $6.9B | $10.0B | ||
| Q4 25 | $8.0B | $10.0B | ||
| Q3 25 | $7.8B | $10.1B | ||
| Q2 25 | $8.0B | $9.2B | ||
| Q1 25 | $9.4B | $8.0B | ||
| Q4 24 | $10.3B | $7.6B | ||
| Q3 24 | $10.4B | $7.0B | ||
| Q2 24 | $10.5B | $6.0B |
总资产LUVRCL
| Q1 26 | $20.4B | $42.0B | ||
| Q4 25 | $29.1B | $41.6B | ||
| Q3 25 | $28.3B | $40.1B | ||
| Q2 25 | $28.7B | $38.5B | ||
| Q1 25 | $33.2B | $37.5B | ||
| Q4 24 | $33.8B | $37.1B | ||
| Q3 24 | $34.8B | $37.1B | ||
| Q2 24 | $35.6B | $37.0B |
负债/权益比LUVRCL
| Q1 26 | 0.78× | 2.11× | ||
| Q4 25 | 0.57× | 1.81× | ||
| Q3 25 | 0.52× | 1.70× | ||
| Q2 25 | 0.51× | 1.92× | ||
| Q1 25 | 0.44× | 2.26× | ||
| Q4 24 | 0.49× | 2.44× | ||
| Q3 24 | 0.49× | 2.69× | ||
| Q2 24 | 0.48× | 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 | $1.4B | $1.8B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 8.7% | — |
| 现金转化率经营现金流/净利润 | 6.25× | 1.93× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LUVRCL
| Q1 26 | $1.4B | $1.8B | ||
| Q4 25 | $294.0M | $1.6B | ||
| Q3 25 | $287.0M | $1.5B | ||
| Q2 25 | $401.0M | $1.7B | ||
| Q1 25 | $860.0M | $1.6B | ||
| Q4 24 | $476.0M | $1.5B | ||
| Q3 24 | $113.0M | $897.0M | ||
| Q2 24 | $-23.0M | $1.6B |
自由现金流LUVRCL
| Q1 26 | — | — | ||
| Q4 25 | $-565.0M | $116.0M | ||
| Q3 25 | $-391.0M | $-989.0M | ||
| Q2 25 | $-234.0M | $910.0M | ||
| Q1 25 | $359.0M | $1.2B | ||
| Q4 24 | $16.0M | $915.0M | ||
| Q3 24 | $-404.0M | $563.0M | ||
| Q2 24 | $-517.0M | $-567.0M |
自由现金流率LUVRCL
| Q1 26 | — | — | ||
| Q4 25 | -7.6% | 2.7% | ||
| Q3 25 | -5.6% | -19.2% | ||
| Q2 25 | -3.2% | 20.1% | ||
| Q1 25 | 5.6% | 30.0% | ||
| Q4 24 | 0.2% | 24.3% | ||
| Q3 24 | -5.9% | 11.5% | ||
| Q2 24 | -7.0% | -13.8% |
资本支出强度LUVRCL
| Q1 26 | 8.7% | — | ||
| Q4 25 | 11.5% | 35.4% | ||
| Q3 25 | 9.8% | 47.8% | ||
| Q2 25 | 8.8% | 18.4% | ||
| Q1 25 | 7.8% | 10.7% | ||
| Q4 24 | 6.6% | 14.7% | ||
| Q3 24 | 7.5% | 6.8% | ||
| Q2 24 | 6.7% | 52.1% |
现金转化率LUVRCL
| Q1 26 | 6.25× | 1.93× | ||
| Q4 25 | 0.91× | 2.16× | ||
| Q3 25 | 5.31× | 0.93× | ||
| Q2 25 | 1.88× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | 1.82× | 2.66× | ||
| Q3 24 | 1.69× | 0.81× | ||
| Q2 24 | -0.06× | 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
LUV
| Passenger | $6.6B | 91% |
| Other | $614.0M | 8% |
| Freight | $44.0M | 1% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
