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RH（RH）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
RH的季度营收约是Ryman Hospitality Properties, Inc.的1.2倍（$883.8M vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs 4.1%，领先6.0%），Ryman Hospitality Properties, Inc.同比增速更快（13.9% vs 8.9%），RH自由现金流更多（$83.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 9.4%）
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
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。
RH vs RHP — 直观对比
营收规模更大
RH
是对方的1.2倍
$737.8M
营收增速更快
RHP
高出5.0%
8.9%
净利率更高
RHP
高出6.0%
4.1%
自由现金流更多
RH
多$24.5M
$58.5M
两年增速更快
RHP
近两年复合增速
9.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $883.8M | $737.8M |
| 净利润 | $36.3M | $74.5M |
| 毛利率 | 44.1% | 41.4% |
| 营业利润率 | 12.0% | 19.4% |
| 净利率 | 4.1% | 10.1% |
| 营收同比 | 8.9% | 13.9% |
| 净利润同比 | 9.3% | 3.0% |
| 每股收益（稀释后） | $1.83 | $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RHRHP
| Q4 25 | $883.8M | $737.8M | ||
| Q3 25 | $899.2M | $592.5M | ||
| Q2 25 | $814.0M | $659.5M | ||
| Q1 25 | $812.4M | $587.3M | ||
| Q4 24 | $811.7M | $647.6M | ||
| Q3 24 | $829.7M | $550.0M | ||
| Q2 24 | $727.0M | $613.3M | ||
| Q1 24 | $738.3M | $528.3M |
净利润RHRHP
| Q4 25 | $36.3M | $74.5M | ||
| Q3 25 | $51.7M | $34.9M | ||
| Q2 25 | $8.0M | $71.8M | ||
| Q1 25 | $13.9M | $63.0M | ||
| Q4 24 | $33.2M | $72.3M | ||
| Q3 24 | $29.0M | $59.0M | ||
| Q2 24 | $-3.6M | $100.8M | ||
| Q1 24 | $11.4M | $42.8M |
毛利率RHRHP
| Q4 25 | 44.1% | 41.4% | ||
| Q3 25 | 45.5% | 40.9% | ||
| Q2 25 | 43.7% | 49.7% | ||
| Q1 25 | 44.7% | 44.4% | ||
| Q4 24 | 44.5% | 40.4% | ||
| Q3 24 | 45.2% | 43.1% | ||
| Q2 24 | 43.5% | 48.4% | ||
| Q1 24 | 43.5% | 41.5% |
营业利润率RHRHP
| Q4 25 | 12.0% | 19.4% | ||
| Q3 25 | 14.3% | 15.0% | ||
| Q2 25 | 6.9% | 21.1% | ||
| Q1 25 | 8.7% | 19.8% | ||
| Q4 24 | 12.5% | 18.6% | ||
| Q3 24 | 11.6% | 19.3% | ||
| Q2 24 | 7.5% | 27.4% | ||
| Q1 24 | 8.7% | 18.2% |
净利率RHRHP
| Q4 25 | 4.1% | 10.1% | ||
| Q3 25 | 5.8% | 5.9% | ||
| Q2 25 | 1.0% | 10.9% | ||
| Q1 25 | 1.7% | 10.7% | ||
| Q4 24 | 4.1% | 11.2% | ||
| Q3 24 | 3.5% | 10.7% | ||
| Q2 24 | -0.5% | 16.4% | ||
| Q1 24 | 1.5% | 8.1% |
每股收益（稀释后）RHRHP
| Q4 25 | $1.83 | $1.12 | ||
| Q3 25 | $2.62 | $0.53 | ||
| Q2 25 | $0.40 | $1.12 | ||
| Q1 25 | $0.71 | $1.00 | ||
| Q4 24 | $1.66 | $1.12 | ||
| Q3 24 | $1.45 | $0.94 | ||
| Q2 24 | $-0.20 | $1.65 | ||
| Q1 24 | $0.91 | $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 | $43.1M | $471.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.3M | $750.2M |
| 总资产 | $4.8B | $6.2B |
| 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RHRHP
| Q4 25 | $43.1M | $471.4M | ||
| Q3 25 | $34.6M | $483.3M | ||
| Q2 25 | $46.1M | $420.6M | ||
| Q1 25 | $30.4M | $413.9M | ||
| Q4 24 | $87.0M | $477.7M | ||
| Q3 24 | $78.3M | $534.9M | ||
| Q2 24 | $101.8M | $498.4M | ||
| Q1 24 | $123.7M | $465.3M |
股东权益RHRHP
| Q4 25 | $3.3M | $750.2M | ||
| Q3 25 | $-40.9M | $758.5M | ||
| Q2 25 | $-110.8M | $800.4M | ||
| Q1 25 | $-163.6M | $531.5M | ||
| Q4 24 | $-183.0M | $549.0M | ||
| Q3 24 | $-234.7M | $551.9M | ||
| Q2 24 | $-289.9M | $562.6M | ||
| Q1 24 | $-297.4M | $529.9M |
总资产RHRHP
| Q4 25 | $4.8B | $6.2B | ||
| Q3 25 | $4.7B | $6.2B | ||
| Q2 25 | $4.7B | $6.1B | ||
| Q1 25 | $4.6B | $5.2B | ||
| Q4 24 | $4.5B | $5.2B | ||
| Q3 24 | $4.4B | $5.2B | ||
| Q2 24 | $4.2B | $5.1B | ||
| Q1 24 | $4.1B | $5.1B |
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 | $131.9M | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 9.4% | 7.9% |
| 资本支出强度资本支出/营收 | 5.5% | 14.4% |
| 现金转化率经营现金流/净利润 | 3.64× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $128.1M | $232.4M |
8季度趋势，按日历期对齐
经营现金流RHRHP
| Q4 25 | $131.9M | $164.7M | ||
| Q3 25 | $137.7M | $205.2M | ||
| Q2 25 | $86.6M | $122.5M | ||
| Q1 25 | $-18.8M | $98.2M | ||
| Q4 24 | $-31.4M | $166.6M | ||
| Q3 24 | $11.2M | $218.1M | ||
| Q2 24 | $56.1M | $184.3M | ||
| Q1 24 | $-114.0M | $7.5M |
自由现金流RHRHP
| Q4 25 | $83.0M | $58.5M | ||
| Q3 25 | $80.7M | $135.4M | ||
| Q2 25 | $34.1M | $53.0M | ||
| Q1 25 | $-69.7M | $-14.5M | ||
| Q4 24 | $-96.0M | $76.0M | ||
| Q3 24 | $-37.9M | $85.7M | ||
| Q2 24 | $-10.1M | $78.8M | ||
| Q1 24 | $-251.5M | $-72.0M |
自由现金流率RHRHP
| Q4 25 | 9.4% | 7.9% | ||
| Q3 25 | 9.0% | 22.9% | ||
| Q2 25 | 4.2% | 8.0% | ||
| Q1 25 | -8.6% | -2.5% | ||
| Q4 24 | -11.8% | 11.7% | ||
| Q3 24 | -4.6% | 15.6% | ||
| Q2 24 | -1.4% | 12.9% | ||
| Q1 24 | -34.1% | -13.6% |
资本支出强度RHRHP
| Q4 25 | 5.5% | 14.4% | ||
| Q3 25 | 6.3% | 11.8% | ||
| Q2 25 | 6.5% | 10.5% | ||
| Q1 25 | 6.3% | 19.2% | ||
| Q4 24 | 8.0% | 14.0% | ||
| Q3 24 | 5.9% | 24.1% | ||
| Q2 24 | 9.1% | 17.2% | ||
| Q1 24 | 18.6% | 15.0% |
现金转化率RHRHP
| Q4 25 | 3.64× | 2.21× | ||
| Q3 25 | 2.66× | 5.88× | ||
| Q2 25 | 10.78× | 1.71× | ||
| Q1 25 | -1.35× | 1.56× | ||
| Q4 24 | -0.95× | 2.30× | ||
| Q3 24 | 0.39× | 3.70× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | -10.01× | 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
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
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% |
