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万豪国际（MAR）与Raymond James Financial（RJF）财务数据对比。点击上方公司名可切换其他公司
万豪国际的季度营收约是Raymond James Financial的1.6倍（$6.7B vs $4.2B），Raymond James Financial净利率更高（13.5% vs 6.7%，领先6.8%），万豪国际同比增速更快（4.1% vs 3.5%），过去两年Raymond James Financial的营收复合增速更高（7.1% vs 5.8%）
万豪国际是美国跨国酒店管理集团，主营业务为运营、特许经营及授权各类住宿品牌，覆盖酒店、住宅、分时度假等多元物业类型。集团旗下拥有37个以上酒店及时度假品牌，全球布局9000余处经营点位，客房总量超159万间，总部位于美国马里兰州贝塞斯达，脱胎于原万豪集团的酒店业务板块。
雷蒙德詹姆斯金融是美国跨国独立投资银行及金融服务机构，通过旗下子公司为个人、企业及市政主体提供多元金融服务，核心业务覆盖投资与财务规划、投资银行、资产管理等领域，总部位于美国佛罗里达州圣彼得堡。
MAR vs RJF — 直观对比
营收规模更大
MAR
是对方的1.6倍
$4.2B
营收增速更快
MAR
高出0.6%
3.5%
净利率更高
RJF
高出6.8%
6.7%
两年增速更快
RJF
近两年复合增速
5.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $6.7B | $4.2B |
| 净利润 | $445.0M | $563.0M |
| 毛利率 | — | — |
| 营业利润率 | 11.6% | — |
| 净利率 | 6.7% | 13.5% |
| 营收同比 | 4.1% | 3.5% |
| 净利润同比 | -2.2% | -6.2% |
| 每股收益（稀释后） | $1.67 | $2.79 |
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MARRJF
| Q4 25 | $6.7B | $4.2B | ||
| Q3 25 | $6.5B | $4.2B | ||
| Q2 25 | $6.7B | $3.8B | ||
| Q1 25 | $6.3B | $3.8B | ||
| Q4 24 | $6.4B | $4.0B | ||
| Q3 24 | $6.3B | $4.0B | ||
| Q2 24 | $6.4B | $3.8B | ||
| Q1 24 | $6.0B | $3.6B |
净利润MARRJF
| Q4 25 | $445.0M | $563.0M | ||
| Q3 25 | $728.0M | $604.0M | ||
| Q2 25 | $763.0M | $436.0M | ||
| Q1 25 | $665.0M | $495.0M | ||
| Q4 24 | $455.0M | $600.0M | ||
| Q3 24 | $584.0M | $602.0M | ||
| Q2 24 | $772.0M | $492.0M | ||
| Q1 24 | $564.0M | $476.0M |
营业利润率MARRJF
| Q4 25 | 11.6% | — | ||
| Q3 25 | 18.2% | — | ||
| Q2 25 | 18.3% | 14.7% | ||
| Q1 25 | 15.1% | 17.5% | ||
| Q4 24 | 11.7% | 18.6% | ||
| Q3 24 | 15.1% | — | ||
| Q2 24 | 18.6% | 17.1% | ||
| Q1 24 | 14.7% | 16.7% |
净利率MARRJF
| Q4 25 | 6.7% | 13.5% | ||
| Q3 25 | 11.2% | 14.4% | ||
| Q2 25 | 11.3% | 11.3% | ||
| Q1 25 | 10.6% | 12.9% | ||
| Q4 24 | 7.1% | 14.9% | ||
| Q3 24 | 9.3% | 15.0% | ||
| Q2 24 | 12.0% | 13.1% | ||
| Q1 24 | 9.4% | 13.1% |
每股收益（稀释后）MARRJF
| Q4 25 | $1.67 | $2.79 | ||
| Q3 25 | $2.67 | $2.96 | ||
| Q2 25 | $2.78 | $2.12 | ||
| Q1 25 | $2.39 | $2.36 | ||
| Q4 24 | $1.64 | $2.86 | ||
| Q3 24 | $2.07 | $2.85 | ||
| Q2 24 | $2.69 | $2.31 | ||
| Q1 24 | $1.93 | $2.22 |
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 | $358.0M | $9.9B |
| 总债务越低越好 | $15.0B | — |
| 股东权益账面价值 | $-3.8B | $12.6B |
| 总资产 | $27.5B | $88.8B |
| 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MARRJF
| Q4 25 | $358.0M | $9.9B | ||
| Q3 25 | $678.0M | $11.4B | ||
| Q2 25 | $671.0M | $9.2B | ||
| Q1 25 | $523.0M | $9.7B | ||
| Q4 24 | $396.0M | $10.0B | ||
| Q3 24 | $394.0M | $11.0B | ||
| Q2 24 | $349.0M | $9.1B | ||
| Q1 24 | $429.0M | $10.0B |
总债务MARRJF
| Q4 25 | $15.0B | — | ||
| Q3 25 | $14.4B | — | ||
| Q2 25 | $14.5B | — | ||
| Q1 25 | $14.1B | — | ||
| Q4 24 | $13.1B | — | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $12.2B | — | ||
| Q1 24 | $11.7B | — |
股东权益MARRJF
| Q4 25 | $-3.8B | $12.6B | ||
| Q3 25 | $-3.1B | $12.5B | ||
| Q2 25 | $-3.0B | $12.3B | ||
| Q1 25 | $-3.2B | $12.2B | ||
| Q4 24 | $-3.0B | $11.9B | ||
| Q3 24 | $-2.4B | $11.7B | ||
| Q2 24 | $-2.1B | $11.2B | ||
| Q1 24 | $-1.6B | $11.0B |
总资产MARRJF
| Q4 25 | $27.5B | $88.8B | ||
| Q3 25 | $27.8B | $88.2B | ||
| Q2 25 | $27.3B | $84.8B | ||
| Q1 25 | $26.7B | $83.1B | ||
| Q4 24 | $26.2B | $82.3B | ||
| Q3 24 | $26.2B | $83.0B | ||
| Q2 24 | $25.7B | $80.6B | ||
| Q1 24 | $25.8B | $81.2B |
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 | $829.0M | $-10.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-56.0M |
| 自由现金流率自由现金流/营收 | — | -1.3% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 1.86× | -0.02× |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流MARRJF
| Q4 25 | $829.0M | $-10.0M | ||
| Q3 25 | $1.1B | $796.0M | ||
| Q2 25 | $643.0M | $691.0M | ||
| Q1 25 | $647.0M | $117.0M | ||
| Q4 24 | $318.0M | $830.0M | ||
| Q3 24 | $880.0M | $510.0M | ||
| Q2 24 | $772.0M | $711.0M | ||
| Q1 24 | $779.0M | $391.0M |
自由现金流MARRJF
| Q4 25 | — | $-56.0M | ||
| Q3 25 | $951.0M | $752.0M | ||
| Q2 25 | $488.0M | $634.0M | ||
| Q1 25 | $512.0M | $71.0M | ||
| Q4 24 | $-24.0M | $789.0M | ||
| Q3 24 | $706.0M | $460.0M | ||
| Q2 24 | $647.0M | $655.0M | ||
| Q1 24 | $670.0M | $342.0M |
自由现金流率MARRJF
| Q4 25 | — | -1.3% | ||
| Q3 25 | 14.7% | 17.9% | ||
| Q2 25 | 7.2% | 16.5% | ||
| Q1 25 | 8.2% | 1.8% | ||
| Q4 24 | -0.4% | 19.6% | ||
| Q3 24 | 11.3% | 11.5% | ||
| Q2 24 | 10.0% | 17.4% | ||
| Q1 24 | 11.2% | 9.4% |
资本支出强度MARRJF
| Q4 25 | — | 1.1% | ||
| Q3 25 | 2.2% | 1.1% | ||
| Q2 25 | 2.3% | 1.5% | ||
| Q1 25 | 2.2% | 1.2% | ||
| Q4 24 | 5.3% | 1.0% | ||
| Q3 24 | 2.8% | 1.2% | ||
| Q2 24 | 1.9% | 1.5% | ||
| Q1 24 | 1.8% | 1.3% |
现金转化率MARRJF
| Q4 25 | 1.86× | -0.02× | ||
| Q3 25 | 1.50× | 1.32× | ||
| Q2 25 | 0.84× | 1.58× | ||
| Q1 25 | 0.97× | 0.24× | ||
| Q4 24 | 0.70× | 1.38× | ||
| Q3 24 | 1.51× | 0.85× | ||
| Q2 24 | 1.00× | 1.45× | ||
| Q1 24 | 1.38× | 0.82× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
