vs
TDH Holdings, Inc.（PETZ）与MARRIOTT VACATIONS WORLDWIDE Corp（VAC）财务数据对比。点击上方公司名可切换其他公司
MARRIOTT VACATIONS WORLDWIDE Corp的季度营收约是TDH Holdings, Inc.的11904.1倍（$1.2B vs $103.4K）。TDH Holdings, Inc.净利率更高（1169.3% vs -35.0%，领先1204.4%）
TDH控股有限公司是一家宠物产品经营企业，主要研发、生产及销售猫狗适用的宠物食品、营养零食与日常用品，核心市场为中国大陆，服务覆盖线上电商及线下实体零售等多个渠道。
万豪度假环球集团是专注于分时度假业务的公众企业，原为万豪国际集团旗下业务板块，2011年11月分拆为独立上市公司，核心业务为度假所有权运营。目前集团运营超过120家度假村，在万豪度假俱乐部品牌矩阵下拥有超70万名业主及会员，产品覆盖多个度假消费场景。
PETZ vs VAC — 直观对比
营收规模更大
VAC
是对方的11904.1倍
$103.4K
净利率更高
PETZ
高出1204.4%
-35.0%
损益表 — Q2 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $103.4K | $1.2B |
| 净利润 | $1.2M | $-431.0M |
| 毛利率 | 35.3% | — |
| 营业利润率 | -1047.1% | — |
| 净利率 | 1169.3% | -35.0% |
| 营收同比 | — | -0.7% |
| 净利润同比 | — | -962.0% |
| 每股收益（稀释后） | — | $-12.00 |
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PETZVAC
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | $103.4K | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
净利润PETZVAC
| Q4 25 | — | $-431.0M | ||
| Q3 25 | — | $-2.0M | ||
| Q2 25 | $1.2M | $69.0M | ||
| Q1 25 | — | $56.0M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | — | $84.0M | ||
| Q2 24 | — | $37.0M | ||
| Q1 24 | — | $47.0M |
毛利率PETZVAC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 35.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率PETZVAC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1047.1% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
净利率PETZVAC
| Q4 25 | — | -35.0% | ||
| Q3 25 | — | -0.2% | ||
| Q2 25 | 1169.3% | 6.0% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 6.9% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 4.2% |
每股收益（稀释后）PETZVAC
| Q4 25 | — | $-12.00 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | — | $1.77 | ||
| Q1 25 | — | $1.46 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | — | $2.12 | ||
| Q2 24 | — | $0.98 | ||
| Q1 24 | — | $1.22 |
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 | $28.7M | $406.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $27.4M | $2.0B |
| 总资产 | $33.3M | $9.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PETZVAC
| Q4 25 | — | $406.0M | ||
| Q3 25 | — | $474.0M | ||
| Q2 25 | $28.7M | $205.0M | ||
| Q1 25 | — | $196.0M | ||
| Q4 24 | — | $197.0M | ||
| Q3 24 | — | $197.0M | ||
| Q2 24 | — | $206.0M | ||
| Q1 24 | — | $237.0M |
股东权益PETZVAC
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | $27.4M | $2.5B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总资产PETZVAC
| Q4 25 | — | $9.8B | ||
| Q3 25 | — | $10.1B | ||
| Q2 25 | $33.3M | $9.9B | ||
| Q1 25 | — | $9.9B | ||
| Q4 24 | — | $9.8B | ||
| Q3 24 | — | $9.7B | ||
| Q2 24 | — | $9.6B | ||
| Q1 24 | — | $9.9B |
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 | $-2.1M | $6.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-6.0M |
| 自由现金流率自由现金流/营收 | — | -0.5% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | -1.78× | — |
| 过去12个月自由现金流最近4个季度 | — | $-29.0M |
8季度趋势，按日历期对齐
经营现金流PETZVAC
| Q4 25 | — | $6.0M | ||
| Q3 25 | — | $62.0M | ||
| Q2 25 | $-2.1M | $-48.0M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $72.0M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | — | $3.0M |
自由现金流PETZVAC
| Q4 25 | — | $-6.0M | ||
| Q3 25 | — | $51.0M | ||
| Q2 25 | — | $-68.0M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | — | $58.0M | ||
| Q2 24 | — | $17.0M | ||
| Q1 24 | — | $-13.0M |
自由现金流率PETZVAC
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | -5.9% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | -1.2% |
资本支出强度PETZVAC
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.4% |
现金转化率PETZVAC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.78× | -0.70× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.06× |
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
PETZ
暂无分部数据
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
