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Northwest Natural Holding Co（NWN）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Northwest Natural Holding Co的1.7倍（$664.6M vs $394.2M），Ryman Hospitality Properties, Inc.同比增速更快（13.2% vs 6.3%），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（4.1% vs -4.6%）
西北天然气控股公司是美国上市公用事业企业，总部位于俄勒冈州波特兰，成立于1859年。核心业务为天然气配送，服务俄勒冈州西部、华盛顿州西南部的居民、商业及工业客户，同时运营水务业务，目前服务约80万用户，年营收超10亿美元。
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。
NWN vs RHP — 直观对比
营收规模更大
RHP
是对方的1.7倍
$394.2M
营收增速更快
RHP
高出6.9%
6.3%
两年增速更快
RHP
近两年复合增速
-4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $394.2M | $664.6M |
| 净利润 | — | $69.4M |
| 毛利率 | — | — |
| 营业利润率 | 28.4% | 20.7% |
| 净利率 | — | 10.4% |
| 营收同比 | 6.3% | 13.2% |
| 净利润同比 | — | 10.1% |
| 每股收益（稀释后） | $1.38 | $1.03 |
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NWNRHP
| Q1 26 | — | $664.6M | ||
| Q4 25 | $394.2M | $737.8M | ||
| Q3 25 | $164.7M | $592.5M | ||
| Q2 25 | $236.2M | $659.5M | ||
| Q1 25 | $494.3M | $587.3M | ||
| Q4 24 | $370.9M | $647.6M | ||
| Q3 24 | $136.9M | $550.0M | ||
| Q2 24 | $211.7M | $613.3M |
净利润NWNRHP
| Q1 26 | — | $69.4M | ||
| Q4 25 | — | $74.5M | ||
| Q3 25 | $-29.9M | $34.9M | ||
| Q2 25 | $-2.5M | $71.8M | ||
| Q1 25 | $87.9M | $63.0M | ||
| Q4 24 | — | $72.3M | ||
| Q3 24 | $-27.2M | $59.0M | ||
| Q2 24 | $-2.8M | $100.8M |
毛利率NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% |
营业利润率NWNRHP
| Q1 26 | — | 20.7% | ||
| Q4 25 | 28.4% | 19.4% | ||
| Q3 25 | -7.5% | 15.0% | ||
| Q2 25 | 11.5% | 21.1% | ||
| Q1 25 | 31.2% | 19.8% | ||
| Q4 24 | 22.9% | 18.6% | ||
| Q3 24 | -14.1% | 19.3% | ||
| Q2 24 | 7.4% | 27.4% |
净利率NWNRHP
| Q1 26 | — | 10.4% | ||
| Q4 25 | — | 10.1% | ||
| Q3 25 | -18.1% | 5.9% | ||
| Q2 25 | -1.1% | 10.9% | ||
| Q1 25 | 17.8% | 10.7% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | -19.8% | 10.7% | ||
| Q2 24 | -1.3% | 16.4% |
每股收益（稀释后）NWNRHP
| Q1 26 | — | $1.03 | ||
| Q4 25 | $1.38 | $1.12 | ||
| Q3 25 | $-0.73 | $0.53 | ||
| Q2 25 | $-0.06 | $1.12 | ||
| Q1 25 | $2.18 | $1.00 | ||
| Q4 24 | $1.12 | $1.12 | ||
| Q3 24 | $-0.71 | $0.94 | ||
| Q2 24 | $-0.07 | $1.65 |
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 | $36.7M | — |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $1.5B | $770.8M |
| 总资产 | $6.2B | $6.2B |
| 负债/权益比越低杠杆越低 | 1.65× | — |
8季度趋势，按日历期对齐
现金及短期投资NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | $36.7M | $471.4M | ||
| Q3 25 | $32.2M | $483.3M | ||
| Q2 25 | $102.6M | $420.6M | ||
| Q1 25 | $100.0M | $413.9M | ||
| Q4 24 | $38.5M | $477.7M | ||
| Q3 24 | $35.0M | $534.9M | ||
| Q2 24 | $65.2M | $498.4M |
总债务NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | — |
股东权益NWNRHP
| Q1 26 | — | $770.8M | ||
| Q4 25 | $1.5B | $750.2M | ||
| Q3 25 | $1.4B | $758.5M | ||
| Q2 25 | $1.5B | $800.4M | ||
| Q1 25 | $1.5B | $531.5M | ||
| Q4 24 | $1.4B | $549.0M | ||
| Q3 24 | $1.4B | $551.9M | ||
| Q2 24 | $1.3B | $562.6M |
总资产NWNRHP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $6.2B | $6.2B | ||
| Q3 25 | $5.9B | $6.2B | ||
| Q2 25 | $5.8B | $6.1B | ||
| Q1 25 | $5.7B | $5.2B | ||
| Q4 24 | $5.2B | $5.2B | ||
| Q3 24 | $4.9B | $5.2B | ||
| Q2 24 | $4.8B | $5.1B |
负债/权益比NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.56× | — | ||
| Q2 25 | 1.53× | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.17× | — |
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 | $3.3M | — |
| 自由现金流经营现金流 - 资本支出 | $-131.0M | — |
| 自由现金流率自由现金流/营收 | -33.2% | — |
| 资本支出强度资本支出/营收 | 34.1% | — |
| 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 | $-197.8M | — |
8季度趋势，按日历期对齐
经营现金流NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | $3.3M | $164.7M | ||
| Q3 25 | $-15.9M | $205.2M | ||
| Q2 25 | $102.2M | $122.5M | ||
| Q1 25 | $179.6M | $98.2M | ||
| Q4 24 | $-19.4M | $166.6M | ||
| Q3 24 | $-26.4M | $218.1M | ||
| Q2 24 | $121.0M | $184.3M |
自由现金流NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | $-131.0M | $58.5M | ||
| Q3 25 | $-125.9M | $135.4M | ||
| Q2 25 | $-18.3M | $53.0M | ||
| Q1 25 | $77.4M | $-14.5M | ||
| Q4 24 | $-119.6M | $76.0M | ||
| Q3 24 | $-121.7M | $85.7M | ||
| Q2 24 | $4.3M | $78.8M |
自由现金流率NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | -33.2% | 7.9% | ||
| Q3 25 | -76.4% | 22.9% | ||
| Q2 25 | -7.8% | 8.0% | ||
| Q1 25 | 15.7% | -2.5% | ||
| Q4 24 | -32.2% | 11.7% | ||
| Q3 24 | -88.9% | 15.6% | ||
| Q2 24 | 2.0% | 12.9% |
资本支出强度NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | 34.1% | 14.4% | ||
| Q3 25 | 66.8% | 11.8% | ||
| Q2 25 | 51.0% | 10.5% | ||
| Q1 25 | 20.7% | 19.2% | ||
| Q4 24 | 27.0% | 14.0% | ||
| Q3 24 | 69.6% | 24.1% | ||
| Q2 24 | 55.1% | 17.2% |
现金转化率NWNRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | 2.04× | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | — | 1.83× |
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
NWN
| NWN Gas Utility | $341.4M | 87% |
| Alternativerevenue | $27.2M | 7% |
| Si Energy Gas Utility | $20.0M | 5% |
| NW Natural Other | $6.9M | 2% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
