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印度钢铁管理局（SAIL）与温德姆酒店及度假村集团（WH）财务数据对比。点击上方公司名可切换其他公司
温德姆酒店及度假村集团的季度营收约是印度钢铁管理局的1.2倍（$334.0M vs $281.9M），印度钢铁管理局净利率更高（-12.8% vs -18.0%，领先5.2%），印度钢铁管理局同比增速更快（6.7% vs -76.3%），温德姆酒店及度假村集团自由现金流更多（$168.0M vs $52.5M）
印度钢铁管理局（SAIL）是总部位于新德里的印度公营钢铁制造企业，属印度最高级别的“马哈拉特纳”中央公共部门企业，是印度最大的国有钢铁生产商，年钢铁产量达1829万吨，1973年1月24日成立，现有员工5.1万余名，由印度钢铁部行政管理。
温德姆酒店及度假村集团是总部位于美国新泽西州帕西帕尼的酒店企业，自称是全球规模最大的酒店特许经营商，在全球范围内共设有9100家门店，旗下拥有多个酒店及度假住宿品牌，服务全球各地的出行旅客。
SAIL vs WH — 直观对比
营收规模更大
WH
是对方的1.2倍
$281.9M
营收增速更快
SAIL
高出82.9%
-76.3%
净利率更高
SAIL
高出5.2%
-18.0%
自由现金流更多
WH
多$115.5M
$52.5M
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $281.9M | $334.0M |
| 净利润 | $-36.0M | $-60.0M |
| 毛利率 | 66.3% | — |
| 营业利润率 | -14.8% | — |
| 净利率 | -12.8% | -18.0% |
| 营收同比 | 6.7% | -76.3% |
| 净利润同比 | -240.9% | -170.6% |
| 每股收益（稀释后） | $-0.06 | $-0.80 |
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SAILWH
| Q1 26 | — | $334.0M | ||
| Q4 25 | $281.9M | $334.0M | ||
| Q3 25 | $264.4M | $382.0M | ||
| Q2 25 | $230.5M | $397.0M | ||
| Q1 25 | $240.1M | $316.0M | ||
| Q4 24 | — | $336.0M | ||
| Q3 24 | $198.6M | $396.0M | ||
| Q2 24 | $187.7M | $367.0M |
净利润SAILWH
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $-36.0M | $-60.0M | ||
| Q3 25 | $-10.6M | $105.0M | ||
| Q2 25 | $-187.3M | $87.0M | ||
| Q1 25 | $-80.1M | $61.0M | ||
| Q4 24 | — | $85.0M | ||
| Q3 24 | $-87.1M | $102.0M | ||
| Q2 24 | $-89.2M | $86.0M |
毛利率SAILWH
| Q1 26 | — | — | ||
| Q4 25 | 66.3% | — | ||
| Q3 25 | 67.3% | — | ||
| Q2 25 | 55.4% | — | ||
| Q1 25 | 66.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 62.1% | — | ||
| Q2 24 | 61.5% | — |
营业利润率SAILWH
| Q1 26 | — | — | ||
| Q4 25 | -14.8% | -11.4% | ||
| Q3 25 | -15.4% | 46.6% | ||
| Q2 25 | -80.3% | 37.8% | ||
| Q1 25 | -12.6% | 35.4% | ||
| Q4 24 | — | 38.4% | ||
| Q3 24 | -33.2% | 43.2% | ||
| Q2 24 | -36.3% | 39.5% |
净利率SAILWH
| Q1 26 | — | -18.0% | ||
| Q4 25 | -12.8% | -18.0% | ||
| Q3 25 | -4.0% | 27.5% | ||
| Q2 25 | -81.3% | 21.9% | ||
| Q1 25 | -33.4% | 19.3% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | -43.9% | 25.8% | ||
| Q2 24 | -47.5% | 23.4% |
每股收益（稀释后）SAILWH
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-0.06 | $-0.77 | ||
| Q3 25 | $-0.02 | $1.36 | ||
| Q2 25 | $-0.42 | $1.13 | ||
| Q1 25 | $-6.50 | $0.78 | ||
| Q4 24 | — | $1.06 | ||
| Q3 24 | $-2.97 | $1.29 | ||
| Q2 24 | $-0.77 | $1.07 |
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 | $298.1M | $64.0M |
| 总债务越低越好 | $0 | — |
| 股东权益账面价值 | $6.8B | $468.0M |
| 总资产 | $7.5B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资SAILWH
| Q1 26 | — | $64.0M | ||
| Q4 25 | $298.1M | $64.0M | ||
| Q3 25 | $271.1M | $70.0M | ||
| Q2 25 | $228.1M | $50.0M | ||
| Q1 25 | $121.3M | $48.0M | ||
| Q4 24 | — | $103.0M | ||
| Q3 24 | $89.7M | $72.0M | ||
| Q2 24 | $146.8M | $70.0M |
总债务SAILWH
| Q1 26 | — | — | ||
| Q4 25 | $0 | $2.5B | ||
| Q3 25 | $0 | $2.6B | ||
| Q2 25 | $0 | $2.5B | ||
| Q1 25 | $1.0B | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
股东权益SAILWH
| Q1 26 | — | $468.0M | ||
| Q4 25 | $6.8B | $468.0M | ||
| Q3 25 | $6.8B | $583.0M | ||
| Q2 25 | $6.8B | $570.0M | ||
| Q1 25 | $-5.6B | $579.0M | ||
| Q4 24 | — | $650.0M | ||
| Q3 24 | $-701.3M | $583.0M | ||
| Q2 24 | $-622.5M | $623.0M |
总资产SAILWH
| Q1 26 | — | $4.2B | ||
| Q4 25 | $7.5B | $4.2B | ||
| Q3 25 | $7.4B | $4.3B | ||
| Q2 25 | $7.4B | $4.3B | ||
| Q1 25 | $7.4B | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $4.2B |
负债/权益比SAILWH
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | 5.37× | ||
| Q3 25 | 0.00× | 4.43× | ||
| Q2 25 | 0.00× | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | — | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $53.6M | $367.0M |
| 自由现金流经营现金流 - 资本支出 | $52.5M | $168.0M |
| 自由现金流率自由现金流/营收 | 18.6% | 50.3% |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $437.0M |
8季度趋势，按日历期对齐
经营现金流SAILWH
| Q1 26 | — | $367.0M | ||
| Q4 25 | $53.6M | $152.0M | ||
| Q3 25 | $49.9M | $86.0M | ||
| Q2 25 | $-96.8M | $70.0M | ||
| Q1 25 | — | $59.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | — | $79.0M | ||
| Q2 24 | $-55.4M | $1.0M |
自由现金流SAILWH
| Q1 26 | — | $168.0M | ||
| Q4 25 | $52.5M | $136.0M | ||
| Q3 25 | $49.0M | $75.0M | ||
| Q2 25 | $-99.0M | $58.0M | ||
| Q1 25 | — | $52.0M | ||
| Q4 24 | — | $109.0M | ||
| Q3 24 | — | $71.0M | ||
| Q2 24 | $-56.0M | $-6.0M |
自由现金流率SAILWH
| Q1 26 | — | 50.3% | ||
| Q4 25 | 18.6% | 40.7% | ||
| Q3 25 | 18.5% | 19.6% | ||
| Q2 25 | -43.0% | 14.6% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | -29.8% | -1.6% |
资本支出强度SAILWH
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 4.8% | ||
| Q3 25 | 0.4% | 2.9% | ||
| Q2 25 | 1.0% | 3.0% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | 0.3% | 1.9% |
现金转化率SAILWH
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.01× |
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
SAIL
| Software As A Service Saa S | $156.0M | 55% |
| Term Subscriptions Services | $65.1M | 23% |
| Maintenance | $38.0M | 13% |
| Other | $15.7M | 6% |
| Other Subscription Services | $7.1M | 3% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
