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范尔度假村（MTN）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
范尔度假村的季度营收约是GIBRALTAR INDUSTRIES, INC.的1.2倍（$271.0M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 4.1%），范尔度假村自由现金流更多（$244.3M vs $26.2M），过去两年GIBRALTAR INDUSTRIES, INC.的营收复合增速更高（-12.3% vs -49.9%）
范尔度假村是美国知名山地度假集团，总部位于科罗拉多州布鲁姆菲尔德。集团旗下在全球4个国家运营42家山地度假村，同时持有并运营酒店、民宿、公寓及高尔夫球场等各类度假不动产，为全球游客提供高品质的山地休闲与旅居服务。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
MTN vs ROCK — 直观对比
营收规模更大
MTN
是对方的1.2倍
$225.0M
营收增速更快
ROCK
高出20.8%
4.1%
自由现金流更多
MTN
多$218.1M
$26.2M
两年增速更快
ROCK
近两年复合增速
-49.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $271.0M | $225.0M |
| 净利润 | $-186.8M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | -77.4% | 7.9% |
| 净利率 | -68.9% | — |
| 营收同比 | 4.1% | 24.9% |
| 净利润同比 | -8.1% | — |
| 每股收益（稀释后） | $-5.20 | — |
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MTNROCK
| Q4 25 | $271.0M | $225.0M | ||
| Q3 25 | $271.3M | $310.9M | ||
| Q2 25 | $1.3B | $309.5M | ||
| Q1 25 | $1.1B | $290.0M | ||
| Q4 24 | $260.3M | $180.1M | ||
| Q3 24 | $265.4M | $277.1M | ||
| Q2 24 | $1.3B | $273.6M | ||
| Q1 24 | $1.1B | $292.5M |
净利润MTNROCK
| Q4 25 | $-186.8M | — | ||
| Q3 25 | $-185.5M | $-89.1M | ||
| Q2 25 | $392.8M | $26.0M | ||
| Q1 25 | $245.5M | $21.1M | ||
| Q4 24 | $-172.8M | — | ||
| Q3 24 | $-175.4M | $34.0M | ||
| Q2 24 | $362.0M | $32.2M | ||
| Q1 24 | $219.3M | $24.9M |
毛利率MTNROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率MTNROCK
| Q4 25 | -77.4% | 7.9% | ||
| Q3 25 | -75.1% | 12.8% | ||
| Q2 25 | 44.9% | 12.8% | ||
| Q1 25 | 33.8% | 8.8% | ||
| Q4 24 | -77.6% | 13.3% | ||
| Q3 24 | -74.9% | 15.6% | ||
| Q2 24 | 42.6% | 14.9% | ||
| Q1 24 | 32.5% | 10.8% |
净利率MTNROCK
| Q4 25 | -68.9% | — | ||
| Q3 25 | -68.4% | -28.6% | ||
| Q2 25 | 30.3% | 8.4% | ||
| Q1 25 | 21.6% | 7.3% | ||
| Q4 24 | -66.4% | — | ||
| Q3 24 | -66.1% | 12.3% | ||
| Q2 24 | 28.2% | 11.8% | ||
| Q1 24 | 20.3% | 8.5% |
每股收益（稀释后）MTNROCK
| Q4 25 | $-5.20 | — | ||
| Q3 25 | $-4.96 | $-2.98 | ||
| Q2 25 | $10.54 | $0.87 | ||
| Q1 25 | $6.56 | — | ||
| Q4 24 | $-4.61 | — | ||
| Q3 24 | $-4.63 | $1.11 | ||
| Q2 24 | $9.54 | $1.05 | ||
| Q1 24 | $5.76 | — |
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 | $581.5M | $115.7M |
| 总债务越低越好 | $2.6B | $0 |
| 股东权益账面价值 | $156.5M | $950.4M |
| 总资产 | $5.8B | $1.4B |
| 负债/权益比越低杠杆越低 | 16.51× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资MTNROCK
| Q4 25 | $581.5M | $115.7M | ||
| Q3 25 | $440.3M | $89.4M | ||
| Q2 25 | $467.0M | $43.3M | ||
| Q1 25 | $488.2M | $25.1M | ||
| Q4 24 | $403.8M | $269.5M | ||
| Q3 24 | $322.8M | $228.9M | ||
| Q2 24 | $705.4M | $179.1M | ||
| Q1 24 | $812.2M | $146.7M |
总债务MTNROCK
| Q4 25 | $2.6B | $0 | ||
| Q3 25 | $2.6B | $0 | ||
| Q2 25 | $2.1B | $0 | ||
| Q1 25 | $2.1B | $0 | ||
| Q4 24 | $2.7B | $0 | ||
| Q3 24 | $2.7B | $0 | ||
| Q2 24 | $2.7B | $0 | ||
| Q1 24 | $2.7B | $0 |
股东权益MTNROCK
| Q4 25 | $156.5M | $950.4M | ||
| Q3 25 | $424.5M | $951.8M | ||
| Q2 25 | $895.4M | $1.0B | ||
| Q1 25 | $530.7M | $1.0B | ||
| Q4 24 | $444.1M | $1.0B | ||
| Q3 24 | $723.5M | $1.0B | ||
| Q2 24 | $1.0B | $975.7M | ||
| Q1 24 | $829.9M | $940.2M |
总资产MTNROCK
| Q4 25 | $5.8B | $1.4B | ||
| Q3 25 | $5.8B | $1.4B | ||
| Q2 25 | $5.8B | $1.5B | ||
| Q1 25 | $5.5B | $1.4B | ||
| Q4 24 | $5.6B | $1.4B | ||
| Q3 24 | $5.7B | $1.4B | ||
| Q2 24 | $5.8B | $1.4B | ||
| Q1 24 | $5.8B | $1.3B |
负债/权益比MTNROCK
| Q4 25 | 16.51× | 0.00× | ||
| Q3 25 | 6.11× | 0.00× | ||
| Q2 25 | 2.35× | 0.00× | ||
| Q1 25 | 3.99× | 0.00× | ||
| Q4 24 | 6.10× | 0.00× | ||
| Q3 24 | 3.76× | 0.00× | ||
| Q2 24 | 2.69× | 0.00× | ||
| Q1 24 | 3.28× | 0.00× |
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 | $315.9M | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $244.3M | $26.2M |
| 自由现金流率自由现金流/营收 | 90.1% | 11.7% |
| 资本支出强度资本支出/营收 | 26.4% | 4.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $352.5M | $120.6M |
8季度趋势，按日历期对齐
经营现金流MTNROCK
| Q4 25 | $315.9M | $35.5M | ||
| Q3 25 | $-171.6M | $73.0M | ||
| Q2 25 | $117.7M | $44.9M | ||
| Q1 25 | $326.3M | $13.7M | ||
| Q4 24 | $282.4M | $19.9M | ||
| Q3 24 | $-94.2M | $64.7M | ||
| Q2 24 | $109.9M | $36.5M | ||
| Q1 24 | $242.7M | $53.2M |
自由现金流MTNROCK
| Q4 25 | $244.3M | $26.2M | ||
| Q3 25 | $-227.5M | $64.8M | ||
| Q2 25 | $84.5M | $27.3M | ||
| Q1 25 | $251.2M | $2.3M | ||
| Q4 24 | $211.4M | $14.1M | ||
| Q3 24 | $-150.3M | $60.5M | ||
| Q2 24 | $85.0M | $33.5M | ||
| Q1 24 | $165.8M | $48.8M |
自由现金流率MTNROCK
| Q4 25 | 90.1% | 11.7% | ||
| Q3 25 | -83.9% | 20.8% | ||
| Q2 25 | 6.5% | 8.8% | ||
| Q1 25 | 22.1% | 0.8% | ||
| Q4 24 | 81.2% | 7.8% | ||
| Q3 24 | -56.6% | 21.8% | ||
| Q2 24 | 6.6% | 12.2% | ||
| Q1 24 | 15.4% | 16.7% |
资本支出强度MTNROCK
| Q4 25 | 26.4% | 4.1% | ||
| Q3 25 | 20.6% | 2.6% | ||
| Q2 25 | 2.6% | 5.7% | ||
| Q1 25 | 6.6% | 3.9% | ||
| Q4 24 | 27.3% | 3.3% | ||
| Q3 24 | 21.1% | 1.5% | ||
| Q2 24 | 1.9% | 1.1% | ||
| Q1 24 | 7.1% | 1.5% |
现金转化率MTNROCK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.30× | 1.73× | ||
| Q1 25 | 1.33× | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | 0.30× | 1.13× | ||
| Q1 24 | 1.11× | 2.13× |
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
MTN
| Dining | $84.6M | 31% |
| Lodgingrevenueexcludingpayrollcostreimbursements | $67.2M | 25% |
| Other Mountain Revenue | $55.1M | 20% |
| Managedcondominiumrooms | $26.1M | 10% |
| Owned Hotel Revenue | $12.7M | 5% |
| Other Lodging Revenue | $10.2M | 4% |
| Other | $5.9M | 2% |
| Transportation | $4.8M | 2% |
| Payrollcostreimbursements | $4.4M | 2% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
