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玛斯特锁（MBC）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是玛斯特锁的1.1倍（$737.8M vs $644.6M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -6.5%，领先16.6%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs -3.5%），Ryman Hospitality Properties, Inc.自由现金流更多（$58.5M vs $52.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 0.5%）
玛斯特锁是美国知名安防产品供应商，1921年由锁匠发明家哈里·索雷夫创立，总部位于威斯康星州奥克里克，主营挂锁、密码锁、保险箱及相关安防产品，现为富俊创新集团旗下子公司，在全球安防锁具领域拥有较高的市场认可度。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
MBC vs RHP — 直观对比
营收规模更大
RHP
是对方的1.1倍
$644.6M
营收增速更快
RHP
高出17.4%
-3.5%
净利率更高
RHP
高出16.6%
-6.5%
自由现金流更多
RHP
多$6.0M
$52.5M
两年增速更快
RHP
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $644.6M | $737.8M |
| 净利润 | $-42.0M | $74.5M |
| 毛利率 | 26.0% | 41.4% |
| 营业利润率 | -4.2% | 19.4% |
| 净利率 | -6.5% | 10.1% |
| 营收同比 | -3.5% | 13.9% |
| 净利润同比 | -400.0% | 3.0% |
| 每股收益（稀释后） | $-0.32 | $1.12 |
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MBCRHP
| Q4 25 | $644.6M | $737.8M | ||
| Q3 25 | $698.9M | $592.5M | ||
| Q2 25 | $730.9M | $659.5M | ||
| Q1 25 | $660.3M | $587.3M | ||
| Q4 24 | $667.7M | $647.6M | ||
| Q3 24 | $718.1M | $550.0M | ||
| Q2 24 | $676.5M | $613.3M | ||
| Q1 24 | $638.1M | $528.3M |
净利润MBCRHP
| Q4 25 | $-42.0M | $74.5M | ||
| Q3 25 | $18.1M | $34.9M | ||
| Q2 25 | $37.3M | $71.8M | ||
| Q1 25 | $13.3M | $63.0M | ||
| Q4 24 | $14.0M | $72.3M | ||
| Q3 24 | $29.1M | $59.0M | ||
| Q2 24 | $45.3M | $100.8M | ||
| Q1 24 | $37.5M | $42.8M |
毛利率MBCRHP
| Q4 25 | 26.0% | 41.4% | ||
| Q3 25 | 31.2% | 40.9% | ||
| Q2 25 | 32.8% | 49.7% | ||
| Q1 25 | 30.6% | 44.4% | ||
| Q4 24 | 30.4% | 40.4% | ||
| Q3 24 | 33.1% | 43.1% | ||
| Q2 24 | 34.1% | 48.4% | ||
| Q1 24 | 32.1% | 41.5% |
营业利润率MBCRHP
| Q4 25 | -4.2% | 19.4% | ||
| Q3 25 | 6.0% | 15.0% | ||
| Q2 25 | 9.2% | 21.1% | ||
| Q1 25 | 5.6% | 19.8% | ||
| Q4 24 | 5.6% | 18.6% | ||
| Q3 24 | 8.0% | 19.3% | ||
| Q2 24 | 11.5% | 27.4% | ||
| Q1 24 | 9.8% | 18.2% |
净利率MBCRHP
| Q4 25 | -6.5% | 10.1% | ||
| Q3 25 | 2.6% | 5.9% | ||
| Q2 25 | 5.1% | 10.9% | ||
| Q1 25 | 2.0% | 10.7% | ||
| Q4 24 | 2.1% | 11.2% | ||
| Q3 24 | 4.1% | 10.7% | ||
| Q2 24 | 6.7% | 16.4% | ||
| Q1 24 | 5.9% | 8.1% |
每股收益（稀释后）MBCRHP
| Q4 25 | $-0.32 | $1.12 | ||
| Q3 25 | $0.14 | $0.53 | ||
| Q2 25 | $0.29 | $1.12 | ||
| Q1 25 | $0.10 | $1.00 | ||
| Q4 24 | $0.10 | $1.12 | ||
| Q3 24 | $0.22 | $0.94 | ||
| Q2 24 | $0.35 | $1.65 | ||
| Q1 24 | $0.29 | $0.67 |
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 | $183.3M | $471.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.3B | $750.2M |
| 总资产 | $3.1B | $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MBCRHP
| Q4 25 | $183.3M | $471.4M | ||
| Q3 25 | $114.8M | $483.3M | ||
| Q2 25 | $120.1M | $420.6M | ||
| Q1 25 | $113.5M | $413.9M | ||
| Q4 24 | $120.6M | $477.7M | ||
| Q3 24 | $108.4M | $534.9M | ||
| Q2 24 | $189.4M | $498.4M | ||
| Q1 24 | $153.7M | $465.3M |
总债务MBCRHP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益MBCRHP
| Q4 25 | $1.3B | $750.2M | ||
| Q3 25 | $1.4B | $758.5M | ||
| Q2 25 | $1.4B | $800.4M | ||
| Q1 25 | $1.3B | $531.5M | ||
| Q4 24 | $1.3B | $549.0M | ||
| Q3 24 | $1.3B | $551.9M | ||
| Q2 24 | $1.3B | $562.6M | ||
| Q1 24 | $1.2B | $529.9M |
总资产MBCRHP
| Q4 25 | $3.1B | $6.2B | ||
| Q3 25 | $3.0B | $6.2B | ||
| Q2 25 | $3.0B | $6.1B | ||
| Q1 25 | $3.0B | $5.2B | ||
| Q4 24 | $2.9B | $5.2B | ||
| Q3 24 | $3.0B | $5.2B | ||
| Q2 24 | $2.4B | $5.1B | ||
| Q1 24 | $2.4B | $5.1B |
负债/权益比MBCRHP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.79× | — | ||
| Q3 24 | 0.83× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $86.9M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $52.5M | $58.5M |
| 自由现金流率自由现金流/营收 | 8.1% | 7.9% |
| 资本支出强度资本支出/营收 | 5.3% | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | $117.5M | $232.4M |
8季度趋势，按日历期对齐
经营现金流MBCRHP
| Q4 25 | $86.9M | $164.7M | ||
| Q3 25 | $55.4M | $205.2M | ||
| Q2 25 | $84.8M | $122.5M | ||
| Q1 25 | $-31.4M | $98.2M | ||
| Q4 24 | $115.1M | $166.6M | ||
| Q3 24 | $80.8M | $218.1M | ||
| Q2 24 | $77.4M | $184.3M | ||
| Q1 24 | $18.7M | $7.5M |
自由现金流MBCRHP
| Q4 25 | $52.5M | $58.5M | ||
| Q3 25 | $39.5M | $135.4M | ||
| Q2 25 | $66.7M | $53.0M | ||
| Q1 25 | $-41.2M | $-14.5M | ||
| Q4 24 | $68.8M | $76.0M | ||
| Q3 24 | $64.5M | $85.7M | ||
| Q2 24 | $66.1M | $78.8M | ||
| Q1 24 | $11.7M | $-72.0M |
自由现金流率MBCRHP
| Q4 25 | 8.1% | 7.9% | ||
| Q3 25 | 5.7% | 22.9% | ||
| Q2 25 | 9.1% | 8.0% | ||
| Q1 25 | -6.2% | -2.5% | ||
| Q4 24 | 10.3% | 11.7% | ||
| Q3 24 | 9.0% | 15.6% | ||
| Q2 24 | 9.8% | 12.9% | ||
| Q1 24 | 1.8% | -13.6% |
资本支出强度MBCRHP
| Q4 25 | 5.3% | 14.4% | ||
| Q3 25 | 2.3% | 11.8% | ||
| Q2 25 | 2.5% | 10.5% | ||
| Q1 25 | 1.5% | 19.2% | ||
| Q4 24 | 6.9% | 14.0% | ||
| Q3 24 | 2.3% | 24.1% | ||
| Q2 24 | 1.7% | 17.2% | ||
| Q1 24 | 1.1% | 15.0% |
现金转化率MBCRHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | 3.06× | 5.88× | ||
| Q2 25 | 2.27× | 1.71× | ||
| Q1 25 | -2.36× | 1.56× | ||
| Q4 24 | 8.22× | 2.30× | ||
| Q3 24 | 2.78× | 3.70× | ||
| Q2 24 | 1.71× | 1.83× | ||
| Q1 24 | 0.50× | 0.17× |
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
MBC
| Dealers | $345.7M | 54% |
| Retail | $220.0M | 34% |
| Builders | $78.9M | 12% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
