vs
NetApp（NTAP）与Travel & Leisure Co.（TNL）财务数据对比。点击上方公司名可切换其他公司
NetApp的季度营收约是Travel & Leisure Co.的1.8倍（$1.7B vs $961.0M），NetApp净利率更高（17.9% vs 8.2%，领先9.7%），Travel & Leisure Co.同比增速更快（2.9% vs 2.8%），NetApp自由现金流更多（$78.0M vs $0），过去两年NetApp的营收复合增速更高（3.0% vs -1.2%）
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
Travel + Leisure Co.是一家总部位于美国佛罗里达州奥兰多的分时度假企业，旗下运营温德姆俱乐部、温德姆WorldMark、玛格丽塔维尔度假俱乐部、雅高度假俱乐部等多个度假所有权品牌，开发、销售并管理分时度假物业，同时主要通过RCI提供分时度假交换服务，还运营Travel + Leisure GO等旅行俱乐部。
NTAP vs TNL — 直观对比
营收规模更大
NTAP
是对方的1.8倍
$961.0M
营收增速更快
TNL
高出0.1%
2.8%
净利率更高
NTAP
高出9.7%
8.2%
自由现金流更多
NTAP
多$78.0M
$0
两年增速更快
NTAP
近两年复合增速
-1.2%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $961.0M |
| 净利润 | $305.0M | $79.0M |
| 毛利率 | 72.0% | — |
| 营业利润率 | 23.4% | 16.5% |
| 净利率 | 17.9% | 8.2% |
| 营收同比 | 2.8% | 2.9% |
| 净利润同比 | 2.0% | 8.2% |
| 每股收益（稀释后） | $1.51 | $1.22 |
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NTAPTNL
| Q1 26 | — | $961.0M | ||
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.6B | $1.0B | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.6B | $934.0M | ||
| Q4 24 | $1.7B | $970.0M | ||
| Q3 24 | $1.5B | $993.0M | ||
| Q2 24 | $1.7B | $985.0M |
净利润NTAPTNL
| Q1 26 | — | $79.0M | ||
| Q4 25 | $305.0M | $-62.0M | ||
| Q3 25 | $233.0M | $111.0M | ||
| Q2 25 | $340.0M | $108.0M | ||
| Q1 25 | $299.0M | $73.0M | ||
| Q4 24 | $299.0M | $119.0M | ||
| Q3 24 | $248.0M | $97.0M | ||
| Q2 24 | $291.0M | $129.0M |
毛利率NTAPTNL
| Q1 26 | — | — | ||
| Q4 25 | 72.0% | 78.9% | ||
| Q3 25 | 70.4% | 98.8% | ||
| Q2 25 | 68.9% | 97.9% | ||
| Q1 25 | 69.8% | 97.5% | ||
| Q4 24 | 71.0% | 99.0% | ||
| Q3 24 | 71.3% | 97.3% | ||
| Q2 24 | 70.5% | 97.9% |
营业利润率NTAPTNL
| Q1 26 | — | 16.5% | ||
| Q4 25 | 23.4% | -2.2% | ||
| Q3 25 | 19.8% | 20.5% | ||
| Q2 25 | 20.1% | 20.2% | ||
| Q1 25 | 22.1% | 16.7% | ||
| Q4 24 | 20.8% | 21.1% | ||
| Q3 24 | 18.3% | 19.0% | ||
| Q2 24 | 21.9% | 19.2% |
净利率NTAPTNL
| Q1 26 | — | 8.2% | ||
| Q4 25 | 17.9% | -6.0% | ||
| Q3 25 | 14.9% | 10.6% | ||
| Q2 25 | 19.6% | 10.6% | ||
| Q1 25 | 18.2% | 7.8% | ||
| Q4 24 | 18.0% | 12.3% | ||
| Q3 24 | 16.1% | 9.8% | ||
| Q2 24 | 17.4% | 13.1% |
每股收益（稀释后）NTAPTNL
| Q1 26 | — | $1.22 | ||
| Q4 25 | $1.51 | $-0.92 | ||
| Q3 25 | $1.15 | $1.67 | ||
| Q2 25 | $1.64 | $1.62 | ||
| Q1 25 | $1.44 | $1.07 | ||
| Q4 24 | $1.42 | $1.70 | ||
| Q3 24 | $1.17 | $1.39 | ||
| Q2 24 | $1.36 | $1.81 |
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 | $3.0B | $254.0M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $986.0M | — |
| 总资产 | $9.6B | $6.8B |
| 负债/权益比越低杠杆越低 | 2.52× | — |
8季度趋势，按日历期对齐
现金及短期投资NTAPTNL
| Q1 26 | — | $254.0M | ||
| Q4 25 | $3.0B | $271.0M | ||
| Q3 25 | $3.3B | $240.0M | ||
| Q2 25 | $3.8B | $212.0M | ||
| Q1 25 | $2.3B | $188.0M | ||
| Q4 24 | $2.2B | $185.0M | ||
| Q3 24 | $3.0B | $194.0M | ||
| Q2 24 | $3.3B | $166.0M |
总债务NTAPTNL
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $5.6B | ||
| Q3 25 | $2.5B | $5.6B | ||
| Q2 25 | $3.2B | $5.6B | ||
| Q1 25 | $2.0B | $5.7B | ||
| Q4 24 | $2.0B | $5.6B | ||
| Q3 24 | $2.4B | $5.6B | ||
| Q2 24 | $2.4B | $5.6B |
股东权益NTAPTNL
| Q1 26 | — | — | ||
| Q4 25 | $986.0M | $-981.0M | ||
| Q3 25 | $975.0M | $-821.0M | ||
| Q2 25 | $1.0B | $-852.0M | ||
| Q1 25 | $995.0M | $-903.0M | ||
| Q4 24 | $892.0M | $-881.0M | ||
| Q3 24 | $929.0M | $-862.0M | ||
| Q2 24 | $1.1B | $-885.0M |
总资产NTAPTNL
| Q1 26 | — | $6.8B | ||
| Q4 25 | $9.6B | $6.8B | ||
| Q3 25 | $9.7B | $6.9B | ||
| Q2 25 | $10.8B | $6.8B | ||
| Q1 25 | $9.0B | $6.8B | ||
| Q4 24 | $9.0B | $6.7B | ||
| Q3 24 | $9.3B | $6.7B | ||
| Q2 24 | $9.9B | $6.7B |
负债/权益比NTAPTNL
| Q1 26 | — | — | ||
| Q4 25 | 2.52× | — | ||
| Q3 25 | 2.55× | — | ||
| Q2 25 | 3.11× | — | ||
| Q1 25 | 2.00× | — | ||
| Q4 24 | 2.23× | — | ||
| Q3 24 | 2.58× | — | ||
| Q2 24 | 2.09× | — |
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 | $127.0M | $38.0M |
| 自由现金流经营现金流 - 资本支出 | $78.0M | $0 |
| 自由现金流率自由现金流/营收 | 4.6% | 0.0% |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 0.42× | 0.48× |
| 过去12个月自由现金流最近4个季度 | — | $423.0M |
8季度趋势，按日历期对齐
经营现金流NTAPTNL
| Q1 26 | — | $38.0M | ||
| Q4 25 | $127.0M | $124.0M | ||
| Q3 25 | $673.0M | $163.0M | ||
| Q2 25 | — | $232.0M | ||
| Q1 25 | $385.0M | $121.0M | ||
| Q4 24 | — | $98.0M | ||
| Q3 24 | $341.0M | $145.0M | ||
| Q2 24 | $613.0M | $174.0M |
自由现金流NTAPTNL
| Q1 26 | — | $0 | ||
| Q4 25 | $78.0M | $92.0M | ||
| Q3 25 | $620.0M | $136.0M | ||
| Q2 25 | — | $195.0M | ||
| Q1 25 | $338.0M | $100.0M | ||
| Q4 24 | — | $75.0M | ||
| Q3 24 | $300.0M | $125.0M | ||
| Q2 24 | $567.0M | $153.0M |
自由现金流率NTAPTNL
| Q1 26 | — | 0.0% | ||
| Q4 25 | 4.6% | 9.0% | ||
| Q3 25 | 39.8% | 13.0% | ||
| Q2 25 | — | 19.2% | ||
| Q1 25 | 20.6% | 10.7% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | 19.5% | 12.6% | ||
| Q2 24 | 34.0% | 15.5% |
资本支出强度NTAPTNL
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 3.1% | ||
| Q3 25 | 3.4% | 2.6% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | 2.9% | 2.2% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 2.7% | 2.0% | ||
| Q2 24 | 2.8% | 2.1% |
现金转化率NTAPTNL
| Q1 26 | — | 0.48× | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 2.89× | 1.47× | ||
| Q2 25 | — | 2.15× | ||
| Q1 25 | 1.29× | 1.66× | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | 1.38× | 1.49× | ||
| Q2 24 | 2.11× | 1.35× |
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
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
TNL
| Other | $452.0M | 47% |
| Service and membership fees | $396.0M | 41% |
| Consumer financing | $113.0M | 12% |
