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Park Hotels & Resorts Inc.（PK）与永利度假村有限公司（RRR）财务数据对比。点击上方公司名可切换其他公司
Park Hotels & Resorts Inc.的季度营收约是永利度假村有限公司的1.2倍（$629.0M vs $511.8M）。永利度假村有限公司净利率更高（8.7% vs -32.6%，领先41.3%）。永利度假村有限公司同比增速更快（3.2% vs 0.6%）。永利度假村有限公司自由现金流更多（$77.7M vs $-3.0M）。过去两年永利度假村有限公司的营收复合增速更高（2.3% 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。
永利度假村有限公司是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店与赌场的开发及运营。公司由前梦幻度假村集团董事长兼首席执行官史蒂夫·永利于2002年创立，现任首席执行官为克雷格·比林斯，截至2020年共开发了6处物业。
PK vs RRR — 直观对比
营收规模更大
PK
是对方的1.2倍
$511.8M
营收增速更快
RRR
高出2.6%
0.6%
净利率更高
RRR
高出41.3%
-32.6%
自由现金流更多
RRR
多$80.7M
$-3.0M
两年增速更快
RRR
近两年复合增速
-0.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $629.0M | $511.8M |
| 净利润 | $-205.0M | $44.7M |
| 毛利率 | — | — |
| 营业利润率 | -26.1% | 28.1% |
| 净利率 | -32.6% | 8.7% |
| 营收同比 | 0.6% | 3.2% |
| 净利润同比 | -410.6% | -4.1% |
| 每股收益（稀释后） | $-1.04 | $0.74 |
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PKRRR
| Q4 25 | $629.0M | $511.8M | ||
| Q3 25 | $610.0M | $475.6M | ||
| Q2 25 | $672.0M | $526.3M | ||
| Q1 25 | $630.0M | $497.9M | ||
| Q4 24 | $625.0M | $495.7M | ||
| Q3 24 | $649.0M | $468.0M | ||
| Q2 24 | $686.0M | $486.4M | ||
| Q1 24 | $639.0M | $488.9M |
净利润PKRRR
| Q4 25 | $-205.0M | $44.7M | ||
| Q3 25 | $-16.0M | $42.3M | ||
| Q2 25 | $-5.0M | $56.4M | ||
| Q1 25 | $-57.0M | $44.7M | ||
| Q4 24 | $66.0M | $46.6M | ||
| Q3 24 | $54.0M | $29.0M | ||
| Q2 24 | $64.0M | $35.7M | ||
| Q1 24 | $28.0M | $42.8M |
营业利润率PKRRR
| Q4 25 | -26.1% | 28.1% | ||
| Q3 25 | 9.7% | 27.6% | ||
| Q2 25 | 9.7% | 31.9% | ||
| Q1 25 | 1.1% | 31.0% | ||
| Q4 24 | 13.3% | 28.7% | ||
| Q3 24 | 14.6% | 27.9% | ||
| Q2 24 | 17.6% | 28.8% | ||
| Q1 24 | 14.4% | 31.8% |
净利率PKRRR
| Q4 25 | -32.6% | 8.7% | ||
| Q3 25 | -2.6% | 8.9% | ||
| Q2 25 | -0.7% | 10.7% | ||
| Q1 25 | -9.0% | 9.0% | ||
| Q4 24 | 10.6% | 9.4% | ||
| Q3 24 | 8.3% | 6.2% | ||
| Q2 24 | 9.3% | 7.3% | ||
| Q1 24 | 4.4% | 8.8% |
每股收益（稀释后）PKRRR
| Q4 25 | $-1.04 | $0.74 | ||
| Q3 25 | $-0.08 | $0.68 | ||
| Q2 25 | $-0.02 | $0.95 | ||
| Q1 25 | $-0.29 | $0.75 | ||
| Q4 24 | $0.32 | $0.78 | ||
| Q3 24 | $0.26 | $0.48 | ||
| Q2 24 | $0.30 | $0.59 | ||
| Q1 24 | $0.13 | $0.68 |
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 | $142.5M |
| 总债务越低越好 | $3.9B | $3.4B |
| 股东权益账面价值 | $3.1B | $208.3M |
| 总资产 | $7.7B | $4.2B |
| 负债/权益比越低杠杆越低 | 1.23× | 16.30× |
8季度趋势，按日历期对齐
现金及短期投资PKRRR
| Q4 25 | $232.0M | $142.5M | ||
| Q3 25 | $278.0M | $129.8M | ||
| Q2 25 | $319.0M | $145.2M | ||
| Q1 25 | $233.0M | $150.6M | ||
| Q4 24 | $402.0M | $164.4M | ||
| Q3 24 | $480.0M | $117.5M | ||
| Q2 24 | $449.0M | $136.4M | ||
| Q1 24 | $378.0M | $129.7M |
总债务PKRRR
| Q4 25 | $3.9B | $3.4B | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $3.9B | $3.4B | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | $3.9B | — | ||
| Q1 24 | $3.8B | — |
股东权益PKRRR
| Q4 25 | $3.1B | $208.3M | ||
| Q3 25 | $3.4B | $219.6M | ||
| Q2 25 | $3.4B | $203.4M | ||
| Q1 25 | $3.5B | $247.1M | ||
| Q4 24 | $3.6B | $215.1M | ||
| Q3 24 | $3.8B | $175.5M | ||
| Q2 24 | $3.8B | $159.0M | ||
| Q1 24 | $3.8B | $135.2M |
总资产PKRRR
| Q4 25 | $7.7B | $4.2B | ||
| Q3 25 | $8.8B | $4.1B | ||
| Q2 25 | $8.9B | $4.0B | ||
| Q1 25 | $8.9B | $4.1B | ||
| Q4 24 | $9.2B | $4.0B | ||
| Q3 24 | $9.2B | $4.0B | ||
| Q2 24 | $9.2B | $4.0B | ||
| Q1 24 | $9.1B | $4.0B |
负债/权益比PKRRR
| Q4 25 | 1.23× | 16.30× | ||
| Q3 25 | 1.14× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.06× | 15.84× | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.00× | — |
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 | $156.6M |
| 自由现金流经营现金流 - 资本支出 | $-3.0M | $77.7M |
| 自由现金流率自由现金流/营收 | -0.5% | 15.2% |
| 资本支出强度资本支出/营收 | 17.2% | 15.4% |
| 现金转化率经营现金流/净利润 | — | 3.51× |
| 过去12个月自由现金流最近4个季度 | $102.0M | $290.5M |
8季度趋势，按日历期对齐
经营现金流PKRRR
| Q4 25 | $105.0M | $156.6M | ||
| Q3 25 | $99.0M | $168.3M | ||
| Q2 25 | $108.0M | $158.4M | ||
| Q1 25 | $86.0M | $126.2M | ||
| Q4 24 | $80.0M | $148.2M | ||
| Q3 24 | $140.0M | $131.0M | ||
| Q2 24 | $117.0M | $142.5M | ||
| Q1 24 | $92.0M | $126.5M |
自由现金流PKRRR
| Q4 25 | $-3.0M | $77.7M | ||
| Q3 25 | $31.0M | $74.6M | ||
| Q2 25 | $65.0M | $80.3M | ||
| Q1 25 | $9.0M | $58.0M | ||
| Q4 24 | $17.0M | $121.4M | ||
| Q3 24 | $97.0M | $50.7M | ||
| Q2 24 | $66.0M | $64.0M | ||
| Q1 24 | $22.0M | $28.4M |
自由现金流率PKRRR
| Q4 25 | -0.5% | 15.2% | ||
| Q3 25 | 5.1% | 15.7% | ||
| Q2 25 | 9.7% | 15.3% | ||
| Q1 25 | 1.4% | 11.6% | ||
| Q4 24 | 2.7% | 24.5% | ||
| Q3 24 | 14.9% | 10.8% | ||
| Q2 24 | 9.6% | 13.1% | ||
| Q1 24 | 3.4% | 5.8% |
资本支出强度PKRRR
| Q4 25 | 17.2% | 15.4% | ||
| Q3 25 | 11.1% | 19.7% | ||
| Q2 25 | 6.4% | 14.9% | ||
| Q1 25 | 12.2% | 13.7% | ||
| Q4 24 | 10.1% | 5.4% | ||
| Q3 24 | 6.6% | 17.2% | ||
| Q2 24 | 7.4% | 16.2% | ||
| Q1 24 | 11.0% | 20.1% |
现金转化率PKRRR
| Q4 25 | — | 3.51× | ||
| Q3 25 | — | 3.98× | ||
| Q2 25 | — | 2.81× | ||
| Q1 25 | — | 2.82× | ||
| Q4 24 | 1.21× | 3.18× | ||
| Q3 24 | 2.59× | 4.53× | ||
| Q2 24 | 1.83× | 4.00× | ||
| Q1 24 | 3.29× | 2.95× |
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% |
RRR
| Casino | $343.0M | 67% |
| Food And Beverage | $93.3M | 18% |
| Occupancy | $47.2M | 9% |
| Hotel Other | $24.6M | 5% |
