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诺唯真游轮控股（NCLH）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
Rocket Companies, Inc.的季度营收约是诺唯真游轮控股的1.2倍（$2.7B vs $2.2B），Rocket Companies, Inc.净利率更高（2.5% vs 0.6%，领先1.9%），Rocket Companies, Inc.同比增速更快（52.2% vs 6.4%），诺唯真游轮控股自由现金流更多（$21.5M vs $-1.3B），过去两年Rocket Companies, Inc.的营收复合增速更高（39.5% vs 1.2%）
诺唯真游轮（NCL）1966年创立于挪威，为美国知名游轮运营商，总部设于佛罗里达州迈阿密-戴德县，注册地为巴哈马，由诺唯真游轮控股全资持有。按载客量计算，该品牌为全球第四大游轮公司，2021年占全球游轮市场载客量份额约8.6%。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
NCLH vs RKT — 直观对比
营收规模更大
RKT
是对方的1.2倍
$2.2B
营收增速更快
RKT
高出45.8%
6.4%
净利率更高
RKT
高出1.9%
0.6%
自由现金流更多
NCLH
多$1.3B
$-1.3B
两年增速更快
RKT
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $2.7B |
| 净利润 | $14.3M | $68.0M |
| 毛利率 | 41.0% | — |
| 营业利润率 | 8.3% | 6.3% |
| 净利率 | 0.6% | 2.5% |
| 营收同比 | 6.4% | 52.2% |
| 净利润同比 | -94.4% | 100.8% |
| 每股收益（稀释后） | $0.08 | $0.10 |
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NCLHRKT
| Q4 25 | $2.2B | $2.7B | ||
| Q3 25 | $2.9B | $1.6B | ||
| Q2 25 | $2.5B | $1.4B | ||
| Q1 25 | $2.1B | $1.0B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $2.8B | $646.9M | ||
| Q2 24 | $2.4B | $1.3B | ||
| Q1 24 | $2.2B | $1.4B |
净利润NCLHRKT
| Q4 25 | $14.3M | $68.0M | ||
| Q3 25 | $419.3M | $-123.9M | ||
| Q2 25 | $30.0M | $-1.8M | ||
| Q1 25 | $-40.3M | $-10.4M | ||
| Q4 24 | $254.5M | $33.9M | ||
| Q3 24 | $474.9M | $-22.0M | ||
| Q2 24 | $163.4M | $1.3M | ||
| Q1 24 | $17.4M | $16.2M |
毛利率NCLHRKT
| Q4 25 | 41.0% | — | ||
| Q3 25 | 47.1% | — | ||
| Q2 25 | 42.1% | — | ||
| Q1 25 | 38.7% | — | ||
| Q4 24 | 38.0% | 58.9% | ||
| Q3 24 | 45.2% | -8.4% | ||
| Q2 24 | 38.7% | 47.4% | ||
| Q1 24 | 36.7% | 51.2% |
营业利润率NCLHRKT
| Q4 25 | 8.3% | 6.3% | ||
| Q3 25 | 25.5% | -11.5% | ||
| Q2 25 | 16.8% | 1.8% | ||
| Q1 25 | 9.4% | -21.5% | ||
| Q4 24 | 10.2% | 38.1% | ||
| Q3 24 | 24.6% | -76.9% | ||
| Q2 24 | 14.4% | 14.8% | ||
| Q1 24 | 10.0% | 21.6% |
净利率NCLHRKT
| Q4 25 | 0.6% | 2.5% | ||
| Q3 25 | 14.3% | -7.7% | ||
| Q2 25 | 1.2% | -0.1% | ||
| Q1 25 | -1.9% | -1.0% | ||
| Q4 24 | 12.1% | 1.9% | ||
| Q3 24 | 16.9% | -3.4% | ||
| Q2 24 | 6.9% | 0.1% | ||
| Q1 24 | 0.8% | 1.2% |
每股收益（稀释后）NCLHRKT
| Q4 25 | $0.08 | $0.10 | ||
| Q3 25 | $0.86 | $-0.06 | ||
| Q2 25 | $0.07 | $-0.01 | ||
| Q1 25 | $-0.09 | $-0.08 | ||
| Q4 24 | $0.55 | $0.28 | ||
| Q3 24 | $0.95 | $-0.19 | ||
| Q2 24 | $0.35 | $0.01 | ||
| Q1 24 | $0.04 | $0.11 |
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 | $209.9M | $2.7B |
| 总债务越低越好 | $13.7B | — |
| 股东权益账面价值 | $2.2B | $22.9B |
| 总资产 | $22.5B | $60.7B |
| 负债/权益比越低杠杆越低 | 6.21× | — |
8季度趋势，按日历期对齐
现金及短期投资NCLHRKT
| Q4 25 | $209.9M | $2.7B | ||
| Q3 25 | $166.8M | $5.8B | ||
| Q2 25 | $184.0M | $5.1B | ||
| Q1 25 | $184.4M | $1.4B | ||
| Q4 24 | $190.8M | $1.3B | ||
| Q3 24 | $332.5M | $1.2B | ||
| Q2 24 | $594.1M | $1.3B | ||
| Q1 24 | $559.8M | $861.4M |
总债务NCLHRKT
| Q4 25 | $13.7B | — | ||
| Q3 25 | $13.6B | — | ||
| Q2 25 | $12.6B | — | ||
| Q1 25 | $12.9B | — | ||
| Q4 24 | $11.8B | — | ||
| Q3 24 | $11.8B | — | ||
| Q2 24 | $11.9B | — | ||
| Q1 24 | $12.0B | — |
股东权益NCLHRKT
| Q4 25 | $2.2B | $22.9B | ||
| Q3 25 | $2.2B | $8.9B | ||
| Q2 25 | $1.6B | $7.4B | ||
| Q1 25 | $1.4B | $8.6B | ||
| Q4 24 | $1.4B | $9.0B | ||
| Q3 24 | $1.1B | $8.4B | ||
| Q2 24 | $693.1M | $8.8B | ||
| Q1 24 | $362.1M | $8.6B |
总资产NCLHRKT
| Q4 25 | $22.5B | $60.7B | ||
| Q3 25 | $22.2B | $33.6B | ||
| Q2 25 | $21.6B | $30.4B | ||
| Q1 25 | $21.4B | $25.3B | ||
| Q4 24 | $20.0B | $24.5B | ||
| Q3 24 | $19.8B | $25.1B | ||
| Q2 24 | $20.1B | $23.6B | ||
| Q1 24 | $19.8B | $22.2B |
负债/权益比NCLHRKT
| Q4 25 | 6.21× | — | ||
| Q3 25 | 6.22× | — | ||
| Q2 25 | 8.05× | — | ||
| Q1 25 | 9.09× | — | ||
| Q4 24 | 8.26× | — | ||
| Q3 24 | 10.35× | — | ||
| Q2 24 | 17.19× | — | ||
| Q1 24 | 33.16× | — |
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 | $459.1M | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $21.5M | $-1.3B |
| 自由现金流率自由现金流/营收 | 1.0% | -47.2% |
| 资本支出强度资本支出/营收 | 19.5% | 1.5% |
| 现金转化率经营现金流/净利润 | 32.21× | -18.08× |
| 过去12个月自由现金流最近4个季度 | $-1.2B | $-4.0B |
8季度趋势，按日历期对齐
经营现金流NCLHRKT
| Q4 25 | $459.1M | $-1.2B | ||
| Q3 25 | $236.6M | $-50.3M | ||
| Q2 25 | $714.9M | $-1.9B | ||
| Q1 25 | $679.2M | $-797.0M | ||
| Q4 24 | $399.3M | $1.8B | ||
| Q3 24 | $172.5M | $-1.3B | ||
| Q2 24 | $670.9M | $-122.3M | ||
| Q1 24 | $807.2M | $-3.0B |
自由现金流NCLHRKT
| Q4 25 | $21.5M | $-1.3B | ||
| Q3 25 | $-726.5M | $-71.8M | ||
| Q2 25 | $381.2M | $-1.9B | ||
| Q1 25 | $-846.0M | $-811.0M | ||
| Q4 24 | $155.8M | $1.8B | ||
| Q3 24 | $-195.5M | $-1.4B | ||
| Q2 24 | $330.2M | $-138.3M | ||
| Q1 24 | $548.3M | $-3.0B |
自由现金流率NCLHRKT
| Q4 25 | 1.0% | -47.2% | ||
| Q3 25 | -24.7% | -4.5% | ||
| Q2 25 | 15.1% | -137.2% | ||
| Q1 25 | -39.8% | -78.2% | ||
| Q4 24 | 7.4% | 103.1% | ||
| Q3 24 | -7.0% | -209.6% | ||
| Q2 24 | 13.9% | -10.6% | ||
| Q1 24 | 25.0% | -218.7% |
资本支出强度NCLHRKT
| Q4 25 | 19.5% | 1.5% | ||
| Q3 25 | 32.8% | 1.3% | ||
| Q2 25 | 13.3% | 1.1% | ||
| Q1 25 | 71.7% | 1.4% | ||
| Q4 24 | 11.5% | 1.1% | ||
| Q3 24 | 13.1% | 2.9% | ||
| Q2 24 | 14.4% | 1.2% | ||
| Q1 24 | 11.8% | 1.0% |
现金转化率NCLHRKT
| Q4 25 | 32.21× | -18.08× | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 23.83× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.57× | 54.42× | ||
| Q3 24 | 0.36× | — | ||
| Q2 24 | 4.10× | -94.46× | ||
| Q1 24 | 46.51× | -185.80× |
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
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
