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Optimum Communications, Inc.（OPTU）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是Optimum Communications, Inc.的2.0倍（$4.3B vs $2.2B），皇家加勒比集团净利率更高（17.7% vs -3.3%，领先20.9%），皇家加勒比集团同比增速更快（13.3% vs -2.3%），Optimum Communications, Inc.自由现金流更多（$199.4M vs $116.0M），过去两年皇家加勒比集团的营收复合增速更高（6.9% vs -1.5%）
Optimum Communications, Inc.是由法籍以色列商人帕特里克·德拉希控股的美国电信运营商，核心业务为数字有线电视与宽带互联网服务，服务覆盖纽约大都会区及美国中西部、南部多个州。截至2017年，该公司在全美21个州共拥有约490万住宅及企业客户，是美国第四大电信企业。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
OPTU vs RCL — 直观对比
营收规模更大
RCL
是对方的2.0倍
$2.2B
营收增速更快
RCL
高出15.6%
-2.3%
净利率更高
RCL
高出20.9%
-3.3%
自由现金流更多
OPTU
多$83.4M
$116.0M
两年增速更快
RCL
近两年复合增速
-1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $4.3B |
| 净利润 | $-71.2M | $753.0M |
| 毛利率 | 69.5% | 47.4% |
| 营业利润率 | 18.2% | 21.9% |
| 净利率 | -3.3% | 17.7% |
| 营收同比 | -2.3% | 13.3% |
| 净利润同比 | -31.6% | 36.4% |
| 每股收益（稀释后） | $-0.16 | $2.76 |
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OPTURCL
| Q4 25 | $2.2B | $4.3B | ||
| Q3 25 | $2.1B | $5.1B | ||
| Q2 25 | $2.1B | $4.5B | ||
| Q1 25 | $2.2B | $4.0B | ||
| Q4 24 | $2.2B | $3.8B | ||
| Q3 24 | $2.2B | $4.9B | ||
| Q2 24 | $2.2B | $4.1B | ||
| Q1 24 | $2.3B | $3.7B |
净利润OPTURCL
| Q4 25 | $-71.2M | $753.0M | ||
| Q3 25 | $-1.6B | $1.6B | ||
| Q2 25 | $-96.3M | $1.2B | ||
| Q1 25 | $-75.7M | $730.0M | ||
| Q4 24 | $-54.1M | $552.0M | ||
| Q3 24 | $-43.0M | $1.1B | ||
| Q2 24 | $15.4M | $854.0M | ||
| Q1 24 | $-21.2M | $360.0M |
毛利率OPTURCL
| Q4 25 | 69.5% | 47.4% | ||
| Q3 25 | 69.7% | 51.8% | ||
| Q2 25 | 69.1% | 49.7% | ||
| Q1 25 | 68.8% | 48.0% | ||
| Q4 24 | 67.7% | 45.4% | ||
| Q3 24 | 68.1% | 51.1% | ||
| Q2 24 | 67.9% | 47.6% | ||
| Q1 24 | 67.0% | 44.8% |
营业利润率OPTURCL
| Q4 25 | 18.2% | 21.9% | ||
| Q3 25 | -55.3% | 33.1% | ||
| Q2 25 | 14.5% | 29.3% | ||
| Q1 25 | 16.0% | 23.6% | ||
| Q4 24 | 15.2% | 16.6% | ||
| Q3 24 | 20.0% | 33.4% | ||
| Q2 24 | 22.4% | 26.7% | ||
| Q1 24 | 17.5% | 20.1% |
净利率OPTURCL
| Q4 25 | -3.3% | 17.7% | ||
| Q3 25 | -77.1% | 30.6% | ||
| Q2 25 | -4.5% | 26.7% | ||
| Q1 25 | -3.5% | 18.3% | ||
| Q4 24 | -2.4% | 14.7% | ||
| Q3 24 | -1.9% | 22.7% | ||
| Q2 24 | 0.7% | 20.8% | ||
| Q1 24 | -0.9% | 9.7% |
每股收益（稀释后）OPTURCL
| Q4 25 | $-0.16 | $2.76 | ||
| Q3 25 | $-3.47 | $5.74 | ||
| Q2 25 | $-0.21 | $4.41 | ||
| Q1 25 | $-0.16 | $2.70 | ||
| Q4 24 | $-0.11 | $2.27 | ||
| Q3 24 | $-0.09 | $4.21 | ||
| Q2 24 | $0.03 | $3.11 | ||
| Q1 24 | $-0.05 | $1.35 |
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 | $1.0B | $825.0M |
| 总债务越低越好 | $26.2B | $18.2B |
| 股东权益账面价值 | $-2.3B | $10.0B |
| 总资产 | $30.7B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资OPTURCL
| Q4 25 | $1.0B | $825.0M | ||
| Q3 25 | $938.8M | $432.0M | ||
| Q2 25 | $247.3M | $735.0M | ||
| Q1 25 | $279.1M | $386.0M | ||
| Q4 24 | $256.5M | $388.0M | ||
| Q3 24 | $250.0M | $418.0M | ||
| Q2 24 | $362.1M | $391.0M | ||
| Q1 24 | $284.4M | $437.0M |
总债务OPTURCL
| Q4 25 | $26.2B | $18.2B | ||
| Q3 25 | $26.2B | $17.2B | ||
| Q2 25 | $25.3B | $17.6B | ||
| Q1 25 | $25.3B | $18.0B | ||
| Q4 24 | $25.1B | $18.5B | ||
| Q3 24 | $25.1B | $19.0B | ||
| Q2 24 | $25.2B | $19.8B | ||
| Q1 24 | $25.1B | $18.9B |
股东权益OPTURCL
| Q4 25 | $-2.3B | $10.0B | ||
| Q3 25 | $-2.2B | $10.1B | ||
| Q2 25 | $-624.1M | $9.2B | ||
| Q1 25 | $-543.0M | $8.0B | ||
| Q4 24 | $-469.2M | $7.6B | ||
| Q3 24 | $-427.1M | $7.0B | ||
| Q2 24 | $-399.1M | $6.0B | ||
| Q1 24 | $-431.2M | $5.2B |
总资产OPTURCL
| Q4 25 | $30.7B | $41.6B | ||
| Q3 25 | $30.7B | $40.1B | ||
| Q2 25 | $31.6B | $38.5B | ||
| Q1 25 | $31.7B | $37.5B | ||
| Q4 24 | $31.7B | $37.1B | ||
| Q3 24 | $31.8B | $37.1B | ||
| Q2 24 | $32.0B | $37.0B | ||
| Q1 24 | $31.9B | $35.2B |
负债/权益比OPTURCL
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | $481.6M | $1.6B |
| 自由现金流经营现金流 - 资本支出 | $199.4M | $116.0M |
| 自由现金流率自由现金流/营收 | 9.1% | 2.7% |
| 资本支出强度资本支出/营收 | 12.9% | 35.4% |
| 现金转化率经营现金流/净利润 | — | 2.16× |
| 过去12个月自由现金流最近4个季度 | $-118.8M | $1.2B |
8季度趋势，按日历期对齐
经营现金流OPTURCL
| Q4 25 | $481.6M | $1.6B | ||
| Q3 25 | $147.4M | $1.5B | ||
| Q2 25 | $412.0M | $1.7B | ||
| Q1 25 | $187.5M | $1.6B | ||
| Q4 24 | $439.9M | $1.5B | ||
| Q3 24 | $436.0M | $897.0M | ||
| Q2 24 | $306.8M | $1.6B | ||
| Q1 24 | $399.7M | $1.3B |
自由现金流OPTURCL
| Q4 25 | $199.4M | $116.0M | ||
| Q3 25 | $-178.1M | $-989.0M | ||
| Q2 25 | $28.4M | $910.0M | ||
| Q1 25 | $-168.6M | $1.2B | ||
| Q4 24 | $49.9M | $915.0M | ||
| Q3 24 | $76.9M | $563.0M | ||
| Q2 24 | $-40.9M | $-567.0M | ||
| Q1 24 | $63.6M | $1.1B |
自由现金流率OPTURCL
| Q4 25 | 9.1% | 2.7% | ||
| Q3 25 | -8.4% | -19.2% | ||
| Q2 25 | 1.3% | 20.1% | ||
| Q1 25 | -7.8% | 30.0% | ||
| Q4 24 | 2.2% | 24.3% | ||
| Q3 24 | 3.5% | 11.5% | ||
| Q2 24 | -1.8% | -13.8% | ||
| Q1 24 | 2.8% | 29.1% |
资本支出强度OPTURCL
| Q4 25 | 12.9% | 35.4% | ||
| Q3 25 | 15.4% | 47.8% | ||
| Q2 25 | 17.9% | 18.4% | ||
| Q1 25 | 16.5% | 10.7% | ||
| Q4 24 | 17.5% | 14.7% | ||
| Q3 24 | 16.1% | 6.8% | ||
| Q2 24 | 15.5% | 52.1% | ||
| Q1 24 | 14.9% | 6.5% |
现金转化率OPTURCL
| Q4 25 | — | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 19.97× | 1.84× | ||
| Q1 24 | — | 3.69× |
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
OPTU
| Total Residential Revenue | $1.6B | 74% |
| Business Servicesand Wholesale | $401.8M | 18% |
| Telephony | $60.8M | 3% |
| Other | $57.9M | 3% |
| Franchise | $50.0M | 2% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
