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利氏兄弟拍卖行（RBA）与Ryman Hospitality Properties, Inc.（RHP）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Ryman Hospitality Properties, Inc.的1.6倍（$1.2B vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs 9.1%，领先1.0%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 5.4%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 6.3%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
RBA vs RHP — 直观对比
营收规模更大
RBA
是对方的1.6倍
$737.8M
营收增速更快
RHP
高出8.5%
5.4%
净利率更高
RHP
高出1.0%
9.1%
自由现金流更多
RBA
多$128.0M
$58.5M
两年增速更快
RHP
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $737.8M |
| 净利润 | $109.7M | $74.5M |
| 毛利率 | — | 41.4% |
| 营业利润率 | 14.7% | 19.4% |
| 净利率 | 9.1% | 10.1% |
| 营收同比 | 5.4% | 13.9% |
| 净利润同比 | -7.4% | 3.0% |
| 每股收益（稀释后） | $0.53 | $1.12 |
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RBARHP
| Q4 25 | $1.2B | $737.8M | ||
| Q3 25 | $1.1B | $592.5M | ||
| Q2 25 | $1.2B | $659.5M | ||
| Q1 25 | $1.1B | $587.3M | ||
| Q4 24 | $1.1B | $647.6M | ||
| Q3 24 | $981.8M | $550.0M | ||
| Q2 24 | $1.1B | $613.3M | ||
| Q1 24 | $1.1B | $528.3M |
净利润RBARHP
| Q4 25 | $109.7M | $74.5M | ||
| Q3 25 | $95.5M | $34.9M | ||
| Q2 25 | $109.8M | $71.8M | ||
| Q1 25 | $113.4M | $63.0M | ||
| Q4 24 | $118.5M | $72.3M | ||
| Q3 24 | $76.1M | $59.0M | ||
| Q2 24 | $111.1M | $100.8M | ||
| Q1 24 | $107.4M | $42.8M |
毛利率RBARHP
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% | ||
| Q1 24 | — | 41.5% |
营业利润率RBARHP
| Q4 25 | 14.7% | 19.4% | ||
| Q3 25 | 14.5% | 15.0% | ||
| Q2 25 | 15.9% | 21.1% | ||
| Q1 25 | 17.1% | 19.8% | ||
| Q4 24 | 18.1% | 18.6% | ||
| Q3 24 | 15.6% | 19.3% | ||
| Q2 24 | 18.4% | 27.4% | ||
| Q1 24 | 18.7% | 18.2% |
净利率RBARHP
| Q4 25 | 9.1% | 10.1% | ||
| Q3 25 | 8.7% | 5.9% | ||
| Q2 25 | 9.3% | 10.9% | ||
| Q1 25 | 10.2% | 10.7% | ||
| Q4 24 | 10.4% | 11.2% | ||
| Q3 24 | 7.8% | 10.7% | ||
| Q2 24 | 10.1% | 16.4% | ||
| Q1 24 | 10.1% | 8.1% |
每股收益（稀释后）RBARHP
| Q4 25 | $0.53 | $1.12 | ||
| Q3 25 | $0.43 | $0.53 | ||
| Q2 25 | $0.53 | $1.12 | ||
| Q1 25 | $0.55 | $1.00 | ||
| Q4 24 | $0.58 | $1.12 | ||
| Q3 24 | $0.36 | $0.94 | ||
| Q2 24 | $0.54 | $1.65 | ||
| Q1 24 | $0.53 | $0.67 |
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 | $531.5M | $471.4M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $5.6B | $750.2M |
| 总资产 | $12.1B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.42× | — |
8季度趋势，按日历期对齐
现金及短期投资RBARHP
| Q4 25 | $531.5M | $471.4M | ||
| Q3 25 | $674.7M | $483.3M | ||
| Q2 25 | $710.2M | $420.6M | ||
| Q1 25 | $578.1M | $413.9M | ||
| Q4 24 | $533.9M | $477.7M | ||
| Q3 24 | $650.7M | $534.9M | ||
| Q2 24 | $599.5M | $498.4M | ||
| Q1 24 | $462.8M | $465.3M |
总债务RBARHP
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
股东权益RBARHP
| Q4 25 | $5.6B | $750.2M | ||
| Q3 25 | $5.5B | $758.5M | ||
| Q2 25 | $5.5B | $800.4M | ||
| Q1 25 | $5.3B | $531.5M | ||
| Q4 24 | $5.2B | $549.0M | ||
| Q3 24 | $5.2B | $551.9M | ||
| Q2 24 | $5.2B | $562.6M | ||
| Q1 24 | $5.1B | $529.9M |
总资产RBARHP
| Q4 25 | $12.1B | $6.2B | ||
| Q3 25 | $12.2B | $6.2B | ||
| Q2 25 | $12.2B | $6.1B | ||
| Q1 25 | $11.9B | $5.2B | ||
| Q4 24 | $11.8B | $5.2B | ||
| Q3 24 | $11.9B | $5.2B | ||
| Q2 24 | $12.1B | $5.1B | ||
| Q1 24 | $12.0B | $5.1B |
负债/权益比RBARHP
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.55× | — | ||
| Q1 24 | 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 | $255.2M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $186.5M | $58.5M |
| 自由现金流率自由现金流/营收 | 15.5% | 7.9% |
| 资本支出强度资本支出/营收 | 5.7% | 14.4% |
| 现金转化率经营现金流/净利润 | 2.33× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $719.2M | $232.4M |
8季度趋势，按日历期对齐
经营现金流RBARHP
| Q4 25 | $255.2M | $164.7M | ||
| Q3 25 | $239.7M | $205.2M | ||
| Q2 25 | $326.5M | $122.5M | ||
| Q1 25 | $156.8M | $98.2M | ||
| Q4 24 | $184.5M | $166.6M | ||
| Q3 24 | $285.4M | $218.1M | ||
| Q2 24 | $337.3M | $184.3M | ||
| Q1 24 | $124.8M | $7.5M |
自由现金流RBARHP
| Q4 25 | $186.5M | $58.5M | ||
| Q3 25 | $188.5M | $135.4M | ||
| Q2 25 | $241.7M | $53.0M | ||
| Q1 25 | $102.5M | $-14.5M | ||
| Q4 24 | $127.9M | $76.0M | ||
| Q3 24 | $248.5M | $85.7M | ||
| Q2 24 | $308.6M | $78.8M | ||
| Q1 24 | $79.6M | $-72.0M |
自由现金流率RBARHP
| Q4 25 | 15.5% | 7.9% | ||
| Q3 25 | 17.3% | 22.9% | ||
| Q2 25 | 20.4% | 8.0% | ||
| Q1 25 | 9.2% | -2.5% | ||
| Q4 24 | 11.2% | 11.7% | ||
| Q3 24 | 25.3% | 15.6% | ||
| Q2 24 | 28.2% | 12.9% | ||
| Q1 24 | 7.5% | -13.6% |
资本支出强度RBARHP
| Q4 25 | 5.7% | 14.4% | ||
| Q3 25 | 4.7% | 11.8% | ||
| Q2 25 | 7.2% | 10.5% | ||
| Q1 25 | 4.9% | 19.2% | ||
| Q4 24 | 5.0% | 14.0% | ||
| Q3 24 | 3.8% | 24.1% | ||
| Q2 24 | 2.6% | 17.2% | ||
| Q1 24 | 4.2% | 15.0% |
现金转化率RBARHP
| Q4 25 | 2.33× | 2.21× | ||
| Q3 25 | 2.51× | 5.88× | ||
| Q2 25 | 2.97× | 1.71× | ||
| Q1 25 | 1.38× | 1.56× | ||
| Q4 24 | 1.56× | 2.30× | ||
| Q3 24 | 3.75× | 3.70× | ||
| Q2 24 | 3.04× | 1.83× | ||
| Q1 24 | 1.16× | 0.17× |
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
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
