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猫途鹰（TRIP）与特诺控股（TROX）财务数据对比。点击上方公司名可切换其他公司
特诺控股的季度营收约是猫途鹰的1.8倍（$730.0M vs $411.0M），猫途鹰净利率更高（-9.2% vs -24.1%，领先14.9%），特诺控股同比增速更快（8.0% vs 0.0%），特诺控股自由现金流更多（$53.0M vs $-122.0M），过去两年猫途鹰的营收复合增速更高（2.0% vs -2.9%）
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TRIP vs TROX — 直观对比
营收规模更大
TROX
是对方的1.8倍
$411.0M
营收增速更快
TROX
高出8.0%
0.0%
净利率更高
TRIP
高出14.9%
-24.1%
自由现金流更多
TROX
多$175.0M
$-122.0M
两年增速更快
TRIP
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $411.0M | $730.0M |
| 净利润 | $-38.0M | $-176.0M |
| 毛利率 | 91.5% | 5.3% |
| 营业利润率 | -8.3% | -15.6% |
| 净利率 | -9.2% | -24.1% |
| 营收同比 | 0.0% | 8.0% |
| 净利润同比 | -3900.0% | -486.7% |
| 每股收益（稀释后） | $-0.32 | $-1.11 |
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TRIPTROX
| Q4 25 | $411.0M | $730.0M | ||
| Q3 25 | $553.0M | $699.0M | ||
| Q2 25 | $529.0M | $731.0M | ||
| Q1 25 | $398.0M | $738.0M | ||
| Q4 24 | $411.0M | $676.0M | ||
| Q3 24 | $532.0M | $804.0M | ||
| Q2 24 | $497.0M | $820.0M | ||
| Q1 24 | $395.0M | $774.0M |
净利润TRIPTROX
| Q4 25 | $-38.0M | $-176.0M | ||
| Q3 25 | $53.0M | $-99.0M | ||
| Q2 25 | $36.0M | $-84.0M | ||
| Q1 25 | $-11.0M | $-111.0M | ||
| Q4 24 | $1.0M | $-30.0M | ||
| Q3 24 | $39.0M | $-25.0M | ||
| Q2 24 | $24.0M | $16.0M | ||
| Q1 24 | $-59.0M | $-9.0M |
毛利率TRIPTROX
| Q4 25 | 91.5% | 5.3% | ||
| Q3 25 | 92.6% | 7.4% | ||
| Q2 25 | 92.1% | 10.8% | ||
| Q1 25 | 93.2% | 13.4% | ||
| Q4 24 | 93.4% | 17.3% | ||
| Q3 24 | 92.5% | 15.9% | ||
| Q2 24 | 92.8% | 18.3% | ||
| Q1 24 | 93.7% | 15.5% |
营业利润率TRIPTROX
| Q4 25 | -8.3% | -15.6% | ||
| Q3 25 | 12.7% | -6.2% | ||
| Q2 25 | 11.2% | -4.8% | ||
| Q1 25 | -3.8% | -8.3% | ||
| Q4 24 | 0.2% | 7.1% | ||
| Q3 24 | 13.2% | 6.7% | ||
| Q2 24 | 7.2% | 9.3% | ||
| Q1 24 | -3.8% | 5.3% |
净利率TRIPTROX
| Q4 25 | -9.2% | -24.1% | ||
| Q3 25 | 9.6% | -14.2% | ||
| Q2 25 | 6.8% | -11.5% | ||
| Q1 25 | -2.8% | -15.0% | ||
| Q4 24 | 0.2% | -4.4% | ||
| Q3 24 | 7.3% | -3.1% | ||
| Q2 24 | 4.8% | 2.0% | ||
| Q1 24 | -14.9% | -1.2% |
每股收益（稀释后）TRIPTROX
| Q4 25 | $-0.32 | $-1.11 | ||
| Q3 25 | $0.43 | $-0.63 | ||
| Q2 25 | $0.28 | $-0.53 | ||
| Q1 25 | $-0.08 | $-0.70 | ||
| Q4 24 | $0.03 | $-0.19 | ||
| Q3 24 | $0.27 | $-0.16 | ||
| Q2 24 | $0.17 | $0.10 | ||
| Q1 24 | $-0.43 | $-0.06 |
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 | $1.0B | $199.0M |
| 总债务越低越好 | $819.0M | $3.1B |
| 股东权益账面价值 | $645.0M | $1.4B |
| 总资产 | $2.6B | $6.2B |
| 负债/权益比越低杠杆越低 | 1.27× | 2.21× |
8季度趋势，按日历期对齐
现金及短期投资TRIPTROX
| Q4 25 | $1.0B | $199.0M | ||
| Q3 25 | $1.2B | $185.0M | ||
| Q2 25 | $1.2B | $132.0M | ||
| Q1 25 | $1.2B | $138.0M | ||
| Q4 24 | $1.1B | $151.0M | ||
| Q3 24 | $1.1B | $167.0M | ||
| Q2 24 | $1.2B | $201.0M | ||
| Q1 24 | $1.2B | $152.0M |
总债务TRIPTROX
| Q4 25 | $819.0M | $3.1B | ||
| Q3 25 | $821.0M | $3.1B | ||
| Q2 25 | $822.0M | $2.7B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | $831.0M | $2.8B | ||
| Q3 24 | $832.0M | $2.8B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.8B |
股东权益TRIPTROX
| Q4 25 | $645.0M | $1.4B | ||
| Q3 25 | $707.0M | $1.6B | ||
| Q2 25 | $627.0M | $1.6B | ||
| Q1 25 | $643.0M | $1.7B | ||
| Q4 24 | $943.0M | $1.8B | ||
| Q3 24 | $944.0M | $1.9B | ||
| Q2 24 | $857.0M | $1.9B | ||
| Q1 24 | $825.0M | $1.9B |
总资产TRIPTROX
| Q4 25 | $2.6B | $6.2B | ||
| Q3 25 | $2.8B | $6.3B | ||
| Q2 25 | $2.9B | $6.2B | ||
| Q1 25 | $2.8B | $6.1B | ||
| Q4 24 | $2.6B | $6.0B | ||
| Q3 24 | $2.7B | $6.2B | ||
| Q2 24 | $2.8B | $6.1B | ||
| Q1 24 | $2.7B | $6.0B |
负债/权益比TRIPTROX
| Q4 25 | 1.27× | 2.21× | ||
| Q3 25 | 1.16× | 2.01× | ||
| Q2 25 | 1.31× | 1.67× | ||
| Q1 25 | 1.81× | 1.64× | ||
| Q4 24 | 0.88× | 1.57× | ||
| Q3 24 | 0.88× | 1.45× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 1.48× |
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 | $-103.0M | $121.0M |
| 自由现金流经营现金流 - 资本支出 | $-122.0M | $53.0M |
| 自由现金流率自由现金流/营收 | -29.7% | 7.3% |
| 资本支出强度资本支出/营收 | 4.6% | 9.3% |
| 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 | $163.0M | $-281.0M |
8季度趋势，按日历期对齐
经营现金流TRIPTROX
| Q4 25 | $-103.0M | $121.0M | ||
| Q3 25 | $44.0M | $-57.0M | ||
| Q2 25 | $202.0M | $28.0M | ||
| Q1 25 | $102.0M | $-32.0M | ||
| Q4 24 | $-3.0M | $82.0M | ||
| Q3 24 | $-43.0M | $87.0M | ||
| Q2 24 | $51.0M | $160.0M | ||
| Q1 24 | $139.0M | $-29.0M |
自由现金流TRIPTROX
| Q4 25 | $-122.0M | $53.0M | ||
| Q3 25 | $25.0M | $-137.0M | ||
| Q2 25 | $177.0M | $-55.0M | ||
| Q1 25 | $83.0M | $-142.0M | ||
| Q4 24 | $-26.0M | $-35.0M | ||
| Q3 24 | $-63.0M | $-14.0M | ||
| Q2 24 | $36.0M | $84.0M | ||
| Q1 24 | $123.0M | $-105.0M |
自由现金流率TRIPTROX
| Q4 25 | -29.7% | 7.3% | ||
| Q3 25 | 4.5% | -19.6% | ||
| Q2 25 | 33.5% | -7.5% | ||
| Q1 25 | 20.9% | -19.2% | ||
| Q4 24 | -6.3% | -5.2% | ||
| Q3 24 | -11.8% | -1.7% | ||
| Q2 24 | 7.2% | 10.2% | ||
| Q1 24 | 31.1% | -13.6% |
资本支出强度TRIPTROX
| Q4 25 | 4.6% | 9.3% | ||
| Q3 25 | 3.4% | 11.4% | ||
| Q2 25 | 4.7% | 11.4% | ||
| Q1 25 | 4.8% | 14.9% | ||
| Q4 24 | 5.6% | 17.3% | ||
| Q3 24 | 3.8% | 12.6% | ||
| Q2 24 | 3.0% | 9.3% | ||
| Q1 24 | 4.1% | 9.8% |
现金转化率TRIPTROX
| Q4 25 | — | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 5.61× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -3.00× | — | ||
| Q3 24 | -1.10× | — | ||
| Q2 24 | 2.13× | 10.00× | ||
| Q1 24 | — | — |
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
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
TROX
| Ti O2 | $577.0M | 79% |
| Zircon | $78.0M | 11% |
| Idle Facility And Lower Of Cost Or Net Realizable Value Charges | $42.0M | 6% |
| Other | $20.0M | 3% |
| MGT | $13.0M | 2% |
