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皇家加勒比集团（RCL）与TIDEWATER INC（TDW）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TIDEWATER INC的12.6倍（$4.3B vs $336.8M）。TIDEWATER INC净利率更高（65.3% vs 17.7%，领先47.6%）。皇家加勒比集团同比增速更快（13.3% vs -2.4%）。TIDEWATER INC自由现金流更多（$147.8M vs $116.0M）。过去两年皇家加勒比集团的营收复合增速更高（6.9% vs 2.4%）
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。
Tidewater Inc.是一家公开上市的国际石油服务企业，总部位于美国得克萨斯州休斯敦。公司运营专业船舶船队，主要为海上油气、海上风电行业提供船舶租赁及相关海事服务，是全球海洋能源服务领域的重要参与者。
RCL vs TDW — 直观对比
营收规模更大
RCL
是对方的12.6倍
$336.8M
营收增速更快
RCL
高出15.7%
-2.4%
净利率更高
TDW
高出47.6%
17.7%
自由现金流更多
TDW
多$31.8M
$116.0M
两年增速更快
RCL
近两年复合增速
2.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $336.8M |
| 净利润 | $753.0M | $219.9M |
| 毛利率 | 47.4% | — |
| 营业利润率 | 21.9% | 19.0% |
| 净利率 | 17.7% | 65.3% |
| 营收同比 | 13.3% | -2.4% |
| 净利润同比 | 36.4% | 495.8% |
| 每股收益（稀释后） | $2.76 | $4.37 |
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RCLTDW
| Q4 25 | $4.3B | $336.8M | ||
| Q3 25 | $5.1B | $341.1M | ||
| Q2 25 | $4.5B | $341.4M | ||
| Q1 25 | $4.0B | $333.4M | ||
| Q4 24 | $3.8B | $345.1M | ||
| Q3 24 | $4.9B | $340.4M | ||
| Q2 24 | $4.1B | $339.2M | ||
| Q1 24 | $3.7B | $321.2M |
净利润RCLTDW
| Q4 25 | $753.0M | $219.9M | ||
| Q3 25 | $1.6B | $-806.0K | ||
| Q2 25 | $1.2B | $72.9M | ||
| Q1 25 | $730.0M | $42.7M | ||
| Q4 24 | $552.0M | $36.9M | ||
| Q3 24 | $1.1B | $46.4M | ||
| Q2 24 | $854.0M | $50.4M | ||
| Q1 24 | $360.0M | $47.0M |
毛利率RCLTDW
| Q4 25 | 47.4% | — | ||
| Q3 25 | 51.8% | — | ||
| Q2 25 | 49.7% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | 45.4% | — | ||
| Q3 24 | 51.1% | — | ||
| Q2 24 | 47.6% | — | ||
| Q1 24 | 44.8% | — |
营业利润率RCLTDW
| Q4 25 | 21.9% | 19.0% | ||
| Q3 25 | 33.1% | 18.4% | ||
| Q2 25 | 29.3% | 23.7% | ||
| Q1 25 | 23.6% | 22.5% | ||
| Q4 24 | 16.6% | 23.6% | ||
| Q3 24 | 33.4% | 20.6% | ||
| Q2 24 | 26.7% | 23.0% | ||
| Q1 24 | 20.1% | 25.5% |
净利率RCLTDW
| Q4 25 | 17.7% | 65.3% | ||
| Q3 25 | 30.6% | -0.2% | ||
| Q2 25 | 26.7% | 21.4% | ||
| Q1 25 | 18.3% | 12.8% | ||
| Q4 24 | 14.7% | 10.7% | ||
| Q3 24 | 22.7% | 13.6% | ||
| Q2 24 | 20.8% | 14.8% | ||
| Q1 24 | 9.7% | 14.6% |
每股收益（稀释后）RCLTDW
| Q4 25 | $2.76 | $4.37 | ||
| Q3 25 | $5.74 | $-0.02 | ||
| Q2 25 | $4.41 | $1.46 | ||
| Q1 25 | $2.70 | $0.83 | ||
| Q4 24 | $2.27 | $0.70 | ||
| Q3 24 | $4.21 | $0.87 | ||
| Q2 24 | $3.11 | $0.94 | ||
| Q1 24 | $1.35 | $0.89 |
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 | $825.0M | $578.8M |
| 总债务越低越好 | $18.2B | $670.1M |
| 股东权益账面价值 | $10.0B | $1.4B |
| 总资产 | $41.6B | $2.4B |
| 负债/权益比越低杠杆越低 | 1.81× | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资RCLTDW
| Q4 25 | $825.0M | $578.8M | ||
| Q3 25 | $432.0M | $428.2M | ||
| Q2 25 | $735.0M | $369.4M | ||
| Q1 25 | $386.0M | $341.8M | ||
| Q4 24 | $388.0M | $324.9M | ||
| Q3 24 | $418.0M | $280.8M | ||
| Q2 24 | $391.0M | $315.9M | ||
| Q1 24 | $437.0M | $280.9M |
总债务RCLTDW
| Q4 25 | $18.2B | $670.1M | ||
| Q3 25 | $17.2B | — | ||
| Q2 25 | $17.6B | — | ||
| Q1 25 | $18.0B | — | ||
| Q4 24 | $18.5B | $647.9M | ||
| Q3 24 | $19.0B | — | ||
| Q2 24 | $19.8B | — | ||
| Q1 24 | $18.9B | — |
股东权益RCLTDW
| Q4 25 | $10.0B | $1.4B | ||
| Q3 25 | $10.1B | $1.1B | ||
| Q2 25 | $9.2B | $1.1B | ||
| Q1 25 | $8.0B | $1.1B | ||
| Q4 24 | $7.6B | $1.1B | ||
| Q3 24 | $7.0B | $1.1B | ||
| Q2 24 | $6.0B | $1.1B | ||
| Q1 24 | $5.2B | $1.1B |
总资产RCLTDW
| Q4 25 | $41.6B | $2.4B | ||
| Q3 25 | $40.1B | $2.1B | ||
| Q2 25 | $38.5B | $2.1B | ||
| Q1 25 | $37.5B | $2.1B | ||
| Q4 24 | $37.1B | $2.1B | ||
| Q3 24 | $37.1B | $2.0B | ||
| Q2 24 | $37.0B | $2.1B | ||
| Q1 24 | $35.2B | $2.1B |
负债/权益比RCLTDW
| Q4 25 | 1.81× | 0.49× | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 2.26× | — | ||
| Q4 24 | 2.44× | 0.58× | ||
| Q3 24 | 2.69× | — | ||
| Q2 24 | 3.29× | — | ||
| Q1 24 | 3.66× | — |
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 | $1.6B | $153.0M |
| 自由现金流经营现金流 - 资本支出 | $116.0M | $147.8M |
| 自由现金流率自由现金流/营收 | 2.7% | 43.9% |
| 资本支出强度资本支出/营收 | 35.4% | 1.5% |
| 现金转化率经营现金流/净利润 | 2.16× | 0.70× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $353.3M |
8季度趋势，按日历期对齐
经营现金流RCLTDW
| Q4 25 | $1.6B | $153.0M | ||
| Q3 25 | $1.5B | $54.7M | ||
| Q2 25 | $1.7B | $85.4M | ||
| Q1 25 | $1.6B | $86.0M | ||
| Q4 24 | $1.5B | $100.0M | ||
| Q3 24 | $897.0M | $49.0M | ||
| Q2 24 | $1.6B | $78.6M | ||
| Q1 24 | $1.3B | $54.8M |
自由现金流RCLTDW
| Q4 25 | $116.0M | $147.8M | ||
| Q3 25 | $-989.0M | $49.6M | ||
| Q2 25 | $910.0M | $80.2M | ||
| Q1 25 | $1.2B | $75.7M | ||
| Q4 24 | $915.0M | $95.5M | ||
| Q3 24 | $563.0M | $43.3M | ||
| Q2 24 | $-567.0M | $72.3M | ||
| Q1 24 | $1.1B | $43.8M |
自由现金流率RCLTDW
| Q4 25 | 2.7% | 43.9% | ||
| Q3 25 | -19.2% | 14.5% | ||
| Q2 25 | 20.1% | 23.5% | ||
| Q1 25 | 30.0% | 22.7% | ||
| Q4 24 | 24.3% | 27.7% | ||
| Q3 24 | 11.5% | 12.7% | ||
| Q2 24 | -13.8% | 21.3% | ||
| Q1 24 | 29.1% | 13.6% |
资本支出强度RCLTDW
| Q4 25 | 35.4% | 1.5% | ||
| Q3 25 | 47.8% | 1.5% | ||
| Q2 25 | 18.4% | 1.5% | ||
| Q1 25 | 10.7% | 3.1% | ||
| Q4 24 | 14.7% | 1.3% | ||
| Q3 24 | 6.8% | 1.7% | ||
| Q2 24 | 52.1% | 1.9% | ||
| Q1 24 | 6.5% | 3.4% |
现金转化率RCLTDW
| Q4 25 | 2.16× | 0.70× | ||
| Q3 25 | 0.93× | — | ||
| Q2 25 | 1.44× | 1.17× | ||
| Q1 25 | 2.23× | 2.02× | ||
| Q4 24 | 2.66× | 2.71× | ||
| Q3 24 | 0.81× | 1.06× | ||
| Q2 24 | 1.84× | 1.56× | ||
| Q1 24 | 3.69× | 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
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
TDW
暂无分部数据
