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豪士科（OSK）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豪士科的1.7倍（$4.5B vs $2.7B），皇家加勒比集团净利率更高（21.3% vs 5.0%，领先16.4%），皇家加勒比集团同比增速更快（11.3% vs 3.5%），过去两年皇家加勒比集团的营收复合增速更高（4.1% vs 2.8%）
豪士科（原称豪士科卡车）是美国知名工业企业，主营特种卡车、军用车辆、机场消防设备、高空作业设备等产品的设计与制造。旗下拥有威斯康星州的消防车制造商Pierce Manufacturing，以及生产各类升降作业设备的JLG工业公司。
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。
OSK vs RCL — 直观对比
营收规模更大
RCL
是对方的1.7倍
$2.7B
营收增速更快
RCL
高出7.8%
3.5%
净利率更高
RCL
高出16.4%
5.0%
两年增速更快
RCL
近两年复合增速
2.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.7B | $4.5B |
| 净利润 | $133.8M | $950.0M |
| 毛利率 | 15.8% | — |
| 营业利润率 | 7.9% | 26.1% |
| 净利率 | 5.0% | 21.3% |
| 营收同比 | 3.5% | 11.3% |
| 净利润同比 | -12.6% | 29.1% |
| 每股收益（稀释后） | — | $3.48 |
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OSKRCL
| Q1 26 | — | $4.5B | ||
| Q4 25 | $2.7B | $4.3B | ||
| Q3 25 | $2.7B | $5.1B | ||
| Q2 25 | $2.7B | $4.5B | ||
| Q1 25 | $2.3B | $4.0B | ||
| Q4 24 | $2.6B | $3.8B | ||
| Q3 24 | $2.7B | $4.9B | ||
| Q2 24 | $2.8B | $4.1B |
净利润OSKRCL
| Q1 26 | — | $950.0M | ||
| Q4 25 | $133.8M | $753.0M | ||
| Q3 25 | $196.2M | $1.6B | ||
| Q2 25 | $204.8M | $1.2B | ||
| Q1 25 | $112.2M | $730.0M | ||
| Q4 24 | $153.1M | $552.0M | ||
| Q3 24 | $180.3M | $1.1B | ||
| Q2 24 | $168.6M | $854.0M |
毛利率OSKRCL
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | 47.4% | ||
| Q3 25 | 17.5% | 51.8% | ||
| Q2 25 | 19.2% | 49.7% | ||
| Q1 25 | 17.3% | 48.0% | ||
| Q4 24 | 17.2% | 45.4% | ||
| Q3 24 | 18.5% | 51.1% | ||
| Q2 24 | 19.2% | 47.6% |
营业利润率OSKRCL
| Q1 26 | — | 26.1% | ||
| Q4 25 | 7.9% | 21.9% | ||
| Q3 25 | 9.7% | 33.1% | ||
| Q2 25 | 10.7% | 29.3% | ||
| Q1 25 | 7.6% | 23.6% | ||
| Q4 24 | 8.6% | 16.6% | ||
| Q3 24 | 9.7% | 33.4% | ||
| Q2 24 | 9.2% | 26.7% |
净利率OSKRCL
| Q1 26 | — | 21.3% | ||
| Q4 25 | 5.0% | 17.7% | ||
| Q3 25 | 7.3% | 30.6% | ||
| Q2 25 | 7.5% | 26.7% | ||
| Q1 25 | 4.9% | 18.3% | ||
| Q4 24 | 5.9% | 14.7% | ||
| Q3 24 | 6.6% | 22.7% | ||
| Q2 24 | 5.9% | 20.8% |
每股收益（稀释后）OSKRCL
| Q1 26 | — | $3.48 | ||
| Q4 25 | — | $2.76 | ||
| Q3 25 | — | $5.74 | ||
| Q2 25 | — | $4.41 | ||
| Q1 25 | — | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | — | $4.21 | ||
| Q2 24 | — | $3.11 |
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 | $479.8M | $512.0M |
| 总债务越低越好 | — | $21.1B |
| 股东权益账面价值 | $4.5B | $10.0B |
| 总资产 | $10.1B | $42.0B |
| 负债/权益比越低杠杆越低 | — | 2.11× |
8季度趋势，按日历期对齐
现金及短期投资OSKRCL
| Q1 26 | — | $512.0M | ||
| Q4 25 | $479.8M | $825.0M | ||
| Q3 25 | $211.8M | $432.0M | ||
| Q2 25 | $191.7M | $735.0M | ||
| Q1 25 | $210.3M | $386.0M | ||
| Q4 24 | $204.9M | $388.0M | ||
| Q3 24 | $160.9M | $418.0M | ||
| Q2 24 | $141.4M | $391.0M |
总债务OSKRCL
| Q1 26 | — | $21.1B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | $602.3M | $19.0B | ||
| Q2 24 | $599.1M | $19.8B |
股东权益OSKRCL
| Q1 26 | — | $10.0B | ||
| Q4 25 | $4.5B | $10.0B | ||
| Q3 25 | $4.5B | $10.1B | ||
| Q2 25 | $4.5B | $9.2B | ||
| Q1 25 | $4.2B | $8.0B | ||
| Q4 24 | $4.2B | $7.6B | ||
| Q3 24 | $4.1B | $7.0B | ||
| Q2 24 | $3.9B | $6.0B |
总资产OSKRCL
| Q1 26 | — | $42.0B | ||
| Q4 25 | $10.1B | $41.6B | ||
| Q3 25 | $9.8B | $40.1B | ||
| Q2 25 | $10.0B | $38.5B | ||
| Q1 25 | $9.8B | $37.5B | ||
| Q4 24 | $9.4B | $37.1B | ||
| Q3 24 | $9.9B | $37.1B | ||
| Q2 24 | $9.7B | $37.0B |
负债/权益比OSKRCL
| Q1 26 | — | 2.11× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | 0.15× | 2.69× | ||
| Q2 24 | 0.15× | 3.29× |
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 | $600.1M | $1.8B |
| 自由现金流经营现金流 - 资本支出 | $540.3M | — |
| 自由现金流率自由现金流/营收 | 20.1% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | 4.49× | 1.93× |
| 过去12个月自由现金流最近4个季度 | $618.0M | — |
8季度趋势，按日历期对齐
经营现金流OSKRCL
| Q1 26 | — | $1.8B | ||
| Q4 25 | $600.1M | $1.6B | ||
| Q3 25 | $489.0M | $1.5B | ||
| Q2 25 | $89.2M | $1.7B | ||
| Q1 25 | $-394.9M | $1.6B | ||
| Q4 24 | $790.8M | $1.5B | ||
| Q3 24 | $326.1M | $897.0M | ||
| Q2 24 | $-211.0M | $1.6B |
自由现金流OSKRCL
| Q1 26 | — | — | ||
| Q4 25 | $540.3M | $116.0M | ||
| Q3 25 | $464.3M | $-989.0M | ||
| Q2 25 | $48.6M | $910.0M | ||
| Q1 25 | $-435.2M | $1.2B | ||
| Q4 24 | $703.3M | $915.0M | ||
| Q3 24 | $272.2M | $563.0M | ||
| Q2 24 | $-250.5M | $-567.0M |
自由现金流率OSKRCL
| Q1 26 | — | — | ||
| Q4 25 | 20.1% | 2.7% | ||
| Q3 25 | 17.3% | -19.2% | ||
| Q2 25 | 1.8% | 20.1% | ||
| Q1 25 | -18.8% | 30.0% | ||
| Q4 24 | 27.1% | 24.3% | ||
| Q3 24 | 9.9% | 11.5% | ||
| Q2 24 | -8.8% | -13.8% |
资本支出强度OSKRCL
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 35.4% | ||
| Q3 25 | 0.9% | 47.8% | ||
| Q2 25 | 1.5% | 18.4% | ||
| Q1 25 | 1.7% | 10.7% | ||
| Q4 24 | 3.4% | 14.7% | ||
| Q3 24 | 2.0% | 6.8% | ||
| Q2 24 | 1.4% | 52.1% |
现金转化率OSKRCL
| Q1 26 | — | 1.93× | ||
| Q4 25 | 4.49× | 2.16× | ||
| Q3 25 | 2.49× | 0.93× | ||
| Q2 25 | 0.44× | 1.44× | ||
| Q1 25 | -3.52× | 2.23× | ||
| Q4 24 | 5.17× | 2.66× | ||
| Q3 24 | 1.81× | 0.81× | ||
| Q2 24 | -1.25× | 1.84× |
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
OSK
| Vocational Segment | $922.4M | 34% |
| Aerial Works Platforms | $548.6M | 20% |
| Other Access Equipment | $311.8M | 12% |
| Telehandlers | $311.2M | 12% |
| Airport Products | $252.7M | 9% |
| Delivery Vehicles | $165.0M | 6% |
| Other Vocational | $130.7M | 5% |
| Transferred Over Time | $23.5M | 1% |
RCL
| Passenger ticket revenues | $3.0B | 68% |
| Onboard and other revenues | $1.4B | 32% |
