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Park Hotels & Resorts Inc.（PK）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Park Hotels & Resorts Inc.的1.9倍（$1.2B vs $629.0M），利氏兄弟拍卖行净利率更高（9.1% vs -32.6%，领先41.7%），利氏兄弟拍卖行同比增速更快（5.4% vs 0.6%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $-3.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs -0.8%）
Park Hotels & Resorts是一家总部位于美国弗吉尼亚州泰森斯的房地产投资信托（REIT），核心业务为酒店物业投资运营。该企业于2017年从希尔顿全球集团分拆成立，在酒店不动产领域拥有专业的投资与管理经验。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
PK vs RBA — 直观对比
营收规模更大
RBA
是对方的1.9倍
$629.0M
营收增速更快
RBA
高出4.8%
0.6%
净利率更高
RBA
高出41.7%
-32.6%
自由现金流更多
RBA
多$189.5M
$-3.0M
两年增速更快
RBA
近两年复合增速
-0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $629.0M | $1.2B |
| 净利润 | $-205.0M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | -26.1% | 14.7% |
| 净利率 | -32.6% | 9.1% |
| 营收同比 | 0.6% | 5.4% |
| 净利润同比 | -410.6% | -7.4% |
| 每股收益（稀释后） | $-1.04 | $0.53 |
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PKRBA
| Q4 25 | $629.0M | $1.2B | ||
| Q3 25 | $610.0M | $1.1B | ||
| Q2 25 | $672.0M | $1.2B | ||
| Q1 25 | $630.0M | $1.1B | ||
| Q4 24 | $625.0M | $1.1B | ||
| Q3 24 | $649.0M | $981.8M | ||
| Q2 24 | $686.0M | $1.1B | ||
| Q1 24 | $639.0M | $1.1B |
净利润PKRBA
| Q4 25 | $-205.0M | $109.7M | ||
| Q3 25 | $-16.0M | $95.5M | ||
| Q2 25 | $-5.0M | $109.8M | ||
| Q1 25 | $-57.0M | $113.4M | ||
| Q4 24 | $66.0M | $118.5M | ||
| Q3 24 | $54.0M | $76.1M | ||
| Q2 24 | $64.0M | $111.1M | ||
| Q1 24 | $28.0M | $107.4M |
营业利润率PKRBA
| Q4 25 | -26.1% | 14.7% | ||
| Q3 25 | 9.7% | 14.5% | ||
| Q2 25 | 9.7% | 15.9% | ||
| Q1 25 | 1.1% | 17.1% | ||
| Q4 24 | 13.3% | 18.1% | ||
| Q3 24 | 14.6% | 15.6% | ||
| Q2 24 | 17.6% | 18.4% | ||
| Q1 24 | 14.4% | 18.7% |
净利率PKRBA
| Q4 25 | -32.6% | 9.1% | ||
| Q3 25 | -2.6% | 8.7% | ||
| Q2 25 | -0.7% | 9.3% | ||
| Q1 25 | -9.0% | 10.2% | ||
| Q4 24 | 10.6% | 10.4% | ||
| Q3 24 | 8.3% | 7.8% | ||
| Q2 24 | 9.3% | 10.1% | ||
| Q1 24 | 4.4% | 10.1% |
每股收益（稀释后）PKRBA
| Q4 25 | $-1.04 | $0.53 | ||
| Q3 25 | $-0.08 | $0.43 | ||
| Q2 25 | $-0.02 | $0.53 | ||
| Q1 25 | $-0.29 | $0.55 | ||
| Q4 24 | $0.32 | $0.58 | ||
| Q3 24 | $0.26 | $0.36 | ||
| Q2 24 | $0.30 | $0.54 | ||
| Q1 24 | $0.13 | $0.53 |
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 | $232.0M | $531.5M |
| 总债务越低越好 | $3.9B | $2.3B |
| 股东权益账面价值 | $3.1B | $5.6B |
| 总资产 | $7.7B | $12.1B |
| 负债/权益比越低杠杆越低 | 1.23× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资PKRBA
| Q4 25 | $232.0M | $531.5M | ||
| Q3 25 | $278.0M | $674.7M | ||
| Q2 25 | $319.0M | $710.2M | ||
| Q1 25 | $233.0M | $578.1M | ||
| Q4 24 | $402.0M | $533.9M | ||
| Q3 24 | $480.0M | $650.7M | ||
| Q2 24 | $449.0M | $599.5M | ||
| Q1 24 | $378.0M | $462.8M |
总债务PKRBA
| Q4 25 | $3.9B | $2.3B | ||
| Q3 25 | $3.9B | $2.6B | ||
| Q2 25 | $3.9B | $2.6B | ||
| Q1 25 | $3.9B | $2.6B | ||
| Q4 24 | $3.9B | $2.6B | ||
| Q3 24 | $3.9B | $2.7B | ||
| Q2 24 | $3.9B | $2.8B | ||
| Q1 24 | $3.8B | $2.9B |
股东权益PKRBA
| Q4 25 | $3.1B | $5.6B | ||
| Q3 25 | $3.4B | $5.5B | ||
| Q2 25 | $3.4B | $5.5B | ||
| Q1 25 | $3.5B | $5.3B | ||
| Q4 24 | $3.6B | $5.2B | ||
| Q3 24 | $3.8B | $5.2B | ||
| Q2 24 | $3.8B | $5.2B | ||
| Q1 24 | $3.8B | $5.1B |
总资产PKRBA
| Q4 25 | $7.7B | $12.1B | ||
| Q3 25 | $8.8B | $12.2B | ||
| Q2 25 | $8.9B | $12.2B | ||
| Q1 25 | $8.9B | $11.9B | ||
| Q4 24 | $9.2B | $11.8B | ||
| Q3 24 | $9.2B | $11.9B | ||
| Q2 24 | $9.2B | $12.1B | ||
| Q1 24 | $9.1B | $12.0B |
负债/权益比PKRBA
| Q4 25 | 1.23× | 0.42× | ||
| Q3 25 | 1.14× | 0.47× | ||
| Q2 25 | 1.12× | 0.47× | ||
| Q1 25 | 1.11× | 0.50× | ||
| Q4 24 | 1.06× | 0.50× | ||
| Q3 24 | 1.03× | 0.52× | ||
| Q2 24 | 1.03× | 0.55× | ||
| Q1 24 | 1.00× | 0.58× |
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 | $105.0M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $-3.0M | $186.5M |
| 自由现金流率自由现金流/营收 | -0.5% | 15.5% |
| 资本支出强度资本支出/营收 | 17.2% | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $102.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流PKRBA
| Q4 25 | $105.0M | $255.2M | ||
| Q3 25 | $99.0M | $239.7M | ||
| Q2 25 | $108.0M | $326.5M | ||
| Q1 25 | $86.0M | $156.8M | ||
| Q4 24 | $80.0M | $184.5M | ||
| Q3 24 | $140.0M | $285.4M | ||
| Q2 24 | $117.0M | $337.3M | ||
| Q1 24 | $92.0M | $124.8M |
自由现金流PKRBA
| Q4 25 | $-3.0M | $186.5M | ||
| Q3 25 | $31.0M | $188.5M | ||
| Q2 25 | $65.0M | $241.7M | ||
| Q1 25 | $9.0M | $102.5M | ||
| Q4 24 | $17.0M | $127.9M | ||
| Q3 24 | $97.0M | $248.5M | ||
| Q2 24 | $66.0M | $308.6M | ||
| Q1 24 | $22.0M | $79.6M |
自由现金流率PKRBA
| Q4 25 | -0.5% | 15.5% | ||
| Q3 25 | 5.1% | 17.3% | ||
| Q2 25 | 9.7% | 20.4% | ||
| Q1 25 | 1.4% | 9.2% | ||
| Q4 24 | 2.7% | 11.2% | ||
| Q3 24 | 14.9% | 25.3% | ||
| Q2 24 | 9.6% | 28.2% | ||
| Q1 24 | 3.4% | 7.5% |
资本支出强度PKRBA
| Q4 25 | 17.2% | 5.7% | ||
| Q3 25 | 11.1% | 4.7% | ||
| Q2 25 | 6.4% | 7.2% | ||
| Q1 25 | 12.2% | 4.9% | ||
| Q4 24 | 10.1% | 5.0% | ||
| Q3 24 | 6.6% | 3.8% | ||
| Q2 24 | 7.4% | 2.6% | ||
| Q1 24 | 11.0% | 4.2% |
现金转化率PKRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | 1.21× | 1.56× | ||
| Q3 24 | 2.59× | 3.75× | ||
| Q2 24 | 1.83× | 3.04× | ||
| Q1 24 | 3.29× | 1.16× |
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
PK
| Occupancy | $371.0M | 59% |
| Food And Beverage | $173.0M | 28% |
| Ancillary Hotel | $61.0M | 10% |
| Hotel Other | $24.0M | 4% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
