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MSA Safety Inc（MSA）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MSA Safety Inc的1.4倍（$737.8M vs $510.9M），MSA Safety Inc净利率更高（17.0% vs 10.1%，领先6.9%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 2.2%），MSA Safety Inc自由现金流更多（$106.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 11.2%）
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
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。
MSA vs RHP — 直观对比
营收规模更大
RHP
是对方的1.4倍
$510.9M
营收增速更快
RHP
高出11.7%
2.2%
净利率更高
MSA
高出6.9%
10.1%
自由现金流更多
MSA
多$47.5M
$58.5M
两年增速更快
RHP
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $510.9M | $737.8M |
| 净利润 | $86.9M | $74.5M |
| 毛利率 | 46.9% | 41.4% |
| 营业利润率 | 22.3% | 19.4% |
| 净利率 | 17.0% | 10.1% |
| 营收同比 | 2.2% | 13.9% |
| 净利润同比 | -1.2% | 3.0% |
| 每股收益（稀释后） | $2.22 | $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MSARHP
| Q4 25 | $510.9M | $737.8M | ||
| Q3 25 | $468.4M | $592.5M | ||
| Q2 25 | $474.1M | $659.5M | ||
| Q1 25 | $421.3M | $587.3M | ||
| Q4 24 | $499.7M | $647.6M | ||
| Q3 24 | $432.7M | $550.0M | ||
| Q2 24 | $462.5M | $613.3M | ||
| Q1 24 | $413.3M | $528.3M |
净利润MSARHP
| Q4 25 | $86.9M | $74.5M | ||
| Q3 25 | $69.6M | $34.9M | ||
| Q2 25 | $62.8M | $71.8M | ||
| Q1 25 | $59.6M | $63.0M | ||
| Q4 24 | $87.9M | $72.3M | ||
| Q3 24 | $66.6M | $59.0M | ||
| Q2 24 | $72.2M | $100.8M | ||
| Q1 24 | $58.1M | $42.8M |
毛利率MSARHP
| Q4 25 | 46.9% | 41.4% | ||
| Q3 25 | 46.5% | 40.9% | ||
| Q2 25 | 46.6% | 49.7% | ||
| Q1 25 | 45.9% | 44.4% | ||
| Q4 24 | 46.9% | 40.4% | ||
| Q3 24 | 47.9% | 43.1% | ||
| Q2 24 | 48.2% | 48.4% | ||
| Q1 24 | 47.3% | 41.5% |
营业利润率MSARHP
| Q4 25 | 22.3% | 19.4% | ||
| Q3 25 | 20.1% | 15.0% | ||
| Q2 25 | 18.1% | 21.1% | ||
| Q1 25 | 18.5% | 19.8% | ||
| Q4 24 | 23.5% | 18.6% | ||
| Q3 24 | 21.1% | 19.3% | ||
| Q2 24 | 21.6% | 27.4% | ||
| Q1 24 | 19.4% | 18.2% |
净利率MSARHP
| Q4 25 | 17.0% | 10.1% | ||
| Q3 25 | 14.9% | 5.9% | ||
| Q2 25 | 13.2% | 10.9% | ||
| Q1 25 | 14.1% | 10.7% | ||
| Q4 24 | 17.6% | 11.2% | ||
| Q3 24 | 15.4% | 10.7% | ||
| Q2 24 | 15.6% | 16.4% | ||
| Q1 24 | 14.1% | 8.1% |
每股收益（稀释后）MSARHP
| Q4 25 | $2.22 | $1.12 | ||
| Q3 25 | $1.77 | $0.53 | ||
| Q2 25 | $1.59 | $1.12 | ||
| Q1 25 | $1.51 | $1.00 | ||
| Q4 24 | $2.22 | $1.12 | ||
| Q3 24 | $1.69 | $0.94 | ||
| Q2 24 | $1.83 | $1.65 | ||
| Q1 24 | $1.47 | $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 | $165.1M | $471.4M |
| 总债务越低越好 | $580.9M | — |
| 股东权益账面价值 | $1.4B | $750.2M |
| 总资产 | $2.6B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.42× | — |
8季度趋势，按日历期对齐
现金及短期投资MSARHP
| Q4 25 | $165.1M | $471.4M | ||
| Q3 25 | $170.0M | $483.3M | ||
| Q2 25 | $147.0M | $420.6M | ||
| Q1 25 | $170.6M | $413.9M | ||
| Q4 24 | $164.6M | $477.7M | ||
| Q3 24 | $154.4M | $534.9M | ||
| Q2 24 | $146.8M | $498.4M | ||
| Q1 24 | $148.3M | $465.3M |
总债务MSARHP
| Q4 25 | $580.9M | — | ||
| Q3 25 | $628.6M | — | ||
| Q2 25 | $679.3M | — | ||
| Q1 25 | $502.1M | — | ||
| Q4 24 | $508.0M | — | ||
| Q3 24 | $554.7M | — | ||
| Q2 24 | $588.2M | — | ||
| Q1 24 | $596.2M | — |
股东权益MSARHP
| Q4 25 | $1.4B | $750.2M | ||
| Q3 25 | $1.3B | $758.5M | ||
| Q2 25 | $1.3B | $800.4M | ||
| Q1 25 | $1.2B | $531.5M | ||
| Q4 24 | $1.1B | $549.0M | ||
| Q3 24 | $1.1B | $551.9M | ||
| Q2 24 | $1.0B | $562.6M | ||
| Q1 24 | $994.8M | $529.9M |
总资产MSARHP
| Q4 25 | $2.6B | $6.2B | ||
| Q3 25 | $2.6B | $6.2B | ||
| Q2 25 | $2.6B | $6.1B | ||
| Q1 25 | $2.2B | $5.2B | ||
| Q4 24 | $2.2B | $5.2B | ||
| Q3 24 | $2.2B | $5.2B | ||
| Q2 24 | $2.2B | $5.1B | ||
| Q1 24 | $2.2B | $5.1B |
负债/权益比MSARHP
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.60× | — |
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 | $122.4M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $106.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 20.8% | 7.9% |
| 资本支出强度资本支出/营收 | 3.2% | 14.4% |
| 现金转化率经营现金流/净利润 | 1.41× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $295.4M | $232.4M |
8季度趋势，按日历期对齐
经营现金流MSARHP
| Q4 25 | $122.4M | $164.7M | ||
| Q3 25 | $112.5M | $205.2M | ||
| Q2 25 | $67.2M | $122.5M | ||
| Q1 25 | $61.8M | $98.2M | ||
| Q4 24 | $107.9M | $166.6M | ||
| Q3 24 | $84.3M | $218.1M | ||
| Q2 24 | $53.3M | $184.3M | ||
| Q1 24 | $50.9M | $7.5M |
自由现金流MSARHP
| Q4 25 | $106.0M | $58.5M | ||
| Q3 25 | $100.5M | $135.4M | ||
| Q2 25 | $37.9M | $53.0M | ||
| Q1 25 | $51.0M | $-14.5M | ||
| Q4 24 | $93.5M | $76.0M | ||
| Q3 24 | $70.1M | $85.7M | ||
| Q2 24 | $39.0M | $78.8M | ||
| Q1 24 | $39.7M | $-72.0M |
自由现金流率MSARHP
| Q4 25 | 20.8% | 7.9% | ||
| Q3 25 | 21.4% | 22.9% | ||
| Q2 25 | 8.0% | 8.0% | ||
| Q1 25 | 12.1% | -2.5% | ||
| Q4 24 | 18.7% | 11.7% | ||
| Q3 24 | 16.2% | 15.6% | ||
| Q2 24 | 8.4% | 12.9% | ||
| Q1 24 | 9.6% | -13.6% |
资本支出强度MSARHP
| Q4 25 | 3.2% | 14.4% | ||
| Q3 25 | 2.6% | 11.8% | ||
| Q2 25 | 6.2% | 10.5% | ||
| Q1 25 | 2.6% | 19.2% | ||
| Q4 24 | 2.9% | 14.0% | ||
| Q3 24 | 3.3% | 24.1% | ||
| Q2 24 | 3.1% | 17.2% | ||
| Q1 24 | 2.7% | 15.0% |
现金转化率MSARHP
| Q4 25 | 1.41× | 2.21× | ||
| Q3 25 | 1.62× | 5.88× | ||
| Q2 25 | 1.07× | 1.71× | ||
| Q1 25 | 1.04× | 1.56× | ||
| Q4 24 | 1.23× | 2.30× | ||
| Q3 24 | 1.27× | 3.70× | ||
| Q2 24 | 0.74× | 1.83× | ||
| Q1 24 | 0.88× | 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
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
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% |
