vs
范尔度假村（MTN）与StubHub Holdings, Inc.（STUB）财务数据对比。点击上方公司名可切换其他公司
StubHub Holdings, Inc.的季度营收约是范尔度假村的1.7倍（$468.1M vs $271.0M）。范尔度假村净利率更高（-68.9% vs -276.6%，领先207.7%）。StubHub Holdings, Inc.同比增速更快（7.9% vs 4.1%）。范尔度假村自由现金流更多（$244.3M vs $180.3M）
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。
StubHub Holdings是全球领先的在线票务交易平台，提供演唱会、体育赛事、戏剧演出等各类现场娱乐活动的门票转售及直购服务，覆盖北美、欧洲、亚太等核心市场，为消费者、活动主办方和票务卖家提供安全可靠的交易渠道。
MTN vs STUB — 直观对比
营收规模更大
STUB
是对方的1.7倍
$271.0M
营收增速更快
STUB
高出3.8%
4.1%
净利率更高
MTN
高出207.7%
-276.6%
自由现金流更多
MTN
多$64.0M
$180.3M
损益表 — Q1 2026 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $271.0M | $468.1M |
| 净利润 | $-186.8M | $-1.3B |
| 毛利率 | — | — |
| 营业利润率 | -77.4% | -292.3% |
| 净利率 | -68.9% | -276.6% |
| 营收同比 | 4.1% | 7.9% |
| 净利润同比 | -8.1% | -3821.6% |
| 每股收益（稀释后） | $-5.20 | $-4.27 |
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MTNSTUB
| Q4 25 | $271.0M | — | ||
| Q3 25 | $271.3M | $468.1M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $260.3M | — | ||
| Q3 24 | $265.4M | $433.8M | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.1B | — |
净利润MTNSTUB
| Q4 25 | $-186.8M | — | ||
| Q3 25 | $-185.5M | $-1.3B | ||
| Q2 25 | $392.8M | — | ||
| Q1 25 | $245.5M | — | ||
| Q4 24 | $-172.8M | — | ||
| Q3 24 | $-175.4M | $-33.0M | ||
| Q2 24 | $362.0M | — | ||
| Q1 24 | $219.3M | — |
营业利润率MTNSTUB
| Q4 25 | -77.4% | — | ||
| Q3 25 | -75.1% | -292.3% | ||
| Q2 25 | 44.9% | — | ||
| Q1 25 | 33.8% | — | ||
| Q4 24 | -77.6% | — | ||
| Q3 24 | -74.9% | 2.8% | ||
| Q2 24 | 42.6% | — | ||
| Q1 24 | 32.5% | — |
净利率MTNSTUB
| Q4 25 | -68.9% | — | ||
| Q3 25 | -68.4% | -276.6% | ||
| Q2 25 | 30.3% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | -66.4% | — | ||
| Q3 24 | -66.1% | -7.6% | ||
| Q2 24 | 28.2% | — | ||
| Q1 24 | 20.3% | — |
每股收益（稀释后）MTNSTUB
| Q4 25 | $-5.20 | — | ||
| Q3 25 | $-4.96 | $-4.27 | ||
| Q2 25 | $10.54 | — | ||
| Q1 25 | $6.56 | — | ||
| Q4 24 | $-4.61 | — | ||
| Q3 24 | $-4.63 | $-0.15 | ||
| Q2 24 | $9.54 | — | ||
| 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 | $1.4B |
| 总债务越低越好 | $2.6B | $1.7B |
| 股东权益账面价值 | $156.5M | $1.7B |
| 总资产 | $5.8B | $5.6B |
| 负债/权益比越低杠杆越低 | 16.51× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资MTNSTUB
| Q4 25 | $581.5M | — | ||
| Q3 25 | $440.3M | $1.4B | ||
| Q2 25 | $467.0M | — | ||
| Q1 25 | $488.2M | — | ||
| Q4 24 | $403.8M | — | ||
| Q3 24 | $322.8M | $1.1B | ||
| Q2 24 | $705.4M | — | ||
| Q1 24 | $812.2M | — |
总债务MTNSTUB
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.6B | $1.7B | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益MTNSTUB
| Q4 25 | $156.5M | — | ||
| Q3 25 | $424.5M | $1.7B | ||
| Q2 25 | $895.4M | — | ||
| Q1 25 | $530.7M | — | ||
| Q4 24 | $444.1M | — | ||
| Q3 24 | $723.5M | $815.9M | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $829.9M | — |
总资产MTNSTUB
| Q4 25 | $5.8B | — | ||
| Q3 25 | $5.8B | $5.6B | ||
| Q2 25 | $5.8B | — | ||
| Q1 25 | $5.5B | — | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $5.7B | — | ||
| Q2 24 | $5.8B | — | ||
| Q1 24 | $5.8B | — |
负债/权益比MTNSTUB
| Q4 25 | 16.51× | — | ||
| Q3 25 | 6.11× | 0.98× | ||
| Q2 25 | 2.35× | — | ||
| Q1 25 | 3.99× | — | ||
| Q4 24 | 6.10× | — | ||
| Q3 24 | 3.76× | — | ||
| Q2 24 | 2.69× | — | ||
| Q1 24 | 3.28× | — |
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 | $181.4M |
| 自由现金流经营现金流 - 资本支出 | $244.3M | $180.3M |
| 自由现金流率自由现金流/营收 | 90.1% | 38.5% |
| 资本支出强度资本支出/营收 | 26.4% | 0.2% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流MTNSTUB
| Q4 25 | $315.9M | — | ||
| Q3 25 | $-171.6M | $181.4M | ||
| Q2 25 | $117.7M | — | ||
| Q1 25 | $326.3M | — | ||
| Q4 24 | $282.4M | — | ||
| Q3 24 | $-94.2M | — | ||
| Q2 24 | $109.9M | — | ||
| Q1 24 | $242.7M | — |
自由现金流MTNSTUB
| Q4 25 | $244.3M | — | ||
| Q3 25 | $-227.5M | $180.3M | ||
| Q2 25 | $84.5M | — | ||
| Q1 25 | $251.2M | — | ||
| Q4 24 | $211.4M | — | ||
| Q3 24 | $-150.3M | — | ||
| Q2 24 | $85.0M | — | ||
| Q1 24 | $165.8M | — |
自由现金流率MTNSTUB
| Q4 25 | 90.1% | — | ||
| Q3 25 | -83.9% | 38.5% | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | 81.2% | — | ||
| Q3 24 | -56.6% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 15.4% | — |
资本支出强度MTNSTUB
| Q4 25 | 26.4% | — | ||
| Q3 25 | 20.6% | 0.2% | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 27.3% | — | ||
| Q3 24 | 21.1% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 7.1% | — |
现金转化率MTNSTUB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.30× | — | ||
| Q1 24 | 1.11× | — |
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% |
STUB
| Transaction Fees | $453.4M | 97% |
| Other | $14.7M | 3% |
