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猫途鹰（TRIP）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是猫途鹰的2.0倍（$814.9M vs $411.0M），Ubiquiti Inc.净利率更高（28.7% vs -9.2%，领先37.9%），Ubiquiti Inc.同比增速更快（35.8% vs 0.0%），Ubiquiti Inc.自由现金流更多（$260.3M vs $-122.0M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% vs 2.0%）
TripAdvisor是美国知名在线旅游服务企业，旗下运营在线旅行社平台、旅游产品比价网站及移动应用，平台拥有大量用户生成的真实旅行内容，为全球消费者提供出行规划、预订等多元服务。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
TRIP vs UI — 直观对比
营收规模更大
UI
是对方的2.0倍
$411.0M
营收增速更快
UI
高出35.8%
0.0%
净利率更高
UI
高出37.9%
-9.2%
自由现金流更多
UI
多$382.3M
$-122.0M
两年增速更快
UI
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $411.0M | $814.9M |
| 净利润 | $-38.0M | $233.6M |
| 毛利率 | 91.5% | 45.9% |
| 营业利润率 | -8.3% | 35.9% |
| 净利率 | -9.2% | 28.7% |
| 营收同比 | 0.0% | 35.8% |
| 净利润同比 | -3900.0% | 70.8% |
| 每股收益（稀释后） | $-0.32 | $3.86 |
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TRIPUI
| Q4 25 | $411.0M | $814.9M | ||
| Q3 25 | $553.0M | $733.8M | ||
| Q2 25 | $529.0M | $759.2M | ||
| Q1 25 | $398.0M | $664.2M | ||
| Q4 24 | $411.0M | $599.9M | ||
| Q3 24 | $532.0M | $550.3M | ||
| Q2 24 | $497.0M | $507.5M | ||
| Q1 24 | $395.0M | $493.0M |
净利润TRIPUI
| Q4 25 | $-38.0M | $233.6M | ||
| Q3 25 | $53.0M | $207.9M | ||
| Q2 25 | $36.0M | $266.7M | ||
| Q1 25 | $-11.0M | $180.4M | ||
| Q4 24 | $1.0M | $136.8M | ||
| Q3 24 | $39.0M | $128.0M | ||
| Q2 24 | $24.0M | $103.8M | ||
| Q1 24 | $-59.0M | $76.3M |
毛利率TRIPUI
| Q4 25 | 91.5% | 45.9% | ||
| Q3 25 | 92.6% | 46.0% | ||
| Q2 25 | 92.1% | 45.1% | ||
| Q1 25 | 93.2% | 44.5% | ||
| Q4 24 | 93.4% | 41.2% | ||
| Q3 24 | 92.5% | 42.1% | ||
| Q2 24 | 92.8% | 40.2% | ||
| Q1 24 | 93.7% | 35.3% |
营业利润率TRIPUI
| Q4 25 | -8.3% | 35.9% | ||
| Q3 25 | 12.7% | 35.7% | ||
| Q2 25 | 11.2% | 34.4% | ||
| Q1 25 | -3.8% | 34.2% | ||
| Q4 24 | 0.2% | 29.8% | ||
| Q3 24 | 13.2% | 30.7% | ||
| Q2 24 | 7.2% | 27.3% | ||
| Q1 24 | -3.8% | 22.6% |
净利率TRIPUI
| Q4 25 | -9.2% | 28.7% | ||
| Q3 25 | 9.6% | 28.3% | ||
| Q2 25 | 6.8% | 35.1% | ||
| Q1 25 | -2.8% | 27.2% | ||
| Q4 24 | 0.2% | 22.8% | ||
| Q3 24 | 7.3% | 23.3% | ||
| Q2 24 | 4.8% | 20.5% | ||
| Q1 24 | -14.9% | 15.5% |
每股收益（稀释后）TRIPUI
| Q4 25 | $-0.32 | $3.86 | ||
| Q3 25 | $0.43 | $3.43 | ||
| Q2 25 | $0.28 | $4.40 | ||
| Q1 25 | $-0.08 | $2.98 | ||
| Q4 24 | $0.03 | $2.26 | ||
| Q3 24 | $0.27 | $2.12 | ||
| Q2 24 | $0.17 | $1.72 | ||
| Q1 24 | $-0.43 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | $819.0M | $47.5M |
| 股东权益账面价值 | $645.0M | $1.0B |
| 总资产 | $2.6B | $1.6B |
| 负债/权益比越低杠杆越低 | 1.27× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资TRIPUI
| Q4 25 | $1.0B | $302.8M | ||
| Q3 25 | $1.2B | $177.2M | ||
| Q2 25 | $1.2B | $149.7M | ||
| Q1 25 | $1.2B | $151.0M | ||
| Q4 24 | $1.1B | $133.1M | ||
| Q3 24 | $1.1B | $165.2M | ||
| Q2 24 | $1.2B | $126.3M | ||
| Q1 24 | $1.2B | $102.5M |
总债务TRIPUI
| Q4 25 | $819.0M | $47.5M | ||
| Q3 25 | $821.0M | $133.8M | ||
| Q2 25 | $822.0M | $250.0M | ||
| Q1 25 | $1.2B | $340.0M | ||
| Q4 24 | $831.0M | $406.3M | ||
| Q3 24 | $832.0M | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益TRIPUI
| Q4 25 | $645.0M | $1.0B | ||
| Q3 25 | $707.0M | $828.4M | ||
| Q2 25 | $627.0M | $668.3M | ||
| Q1 25 | $643.0M | $436.1M | ||
| Q4 24 | $943.0M | $290.4M | ||
| Q3 24 | $944.0M | $188.1M | ||
| Q2 24 | $857.0M | $95.1M | ||
| Q1 24 | $825.0M | $25.9M |
总资产TRIPUI
| Q4 25 | $2.6B | $1.6B | ||
| Q3 25 | $2.8B | $1.5B | ||
| Q2 25 | $2.9B | $1.5B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.8B | $1.2B | ||
| Q1 24 | $2.7B | $1.2B |
负债/权益比TRIPUI
| Q4 25 | 1.27× | 0.05× | ||
| Q3 25 | 1.16× | 0.16× | ||
| Q2 25 | 1.31× | 0.37× | ||
| Q1 25 | 1.81× | 0.78× | ||
| Q4 24 | 0.88× | 1.40× | ||
| Q3 24 | 0.88× | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $-122.0M | $260.3M |
| 自由现金流率自由现金流/营收 | -29.7% | 31.9% |
| 资本支出强度资本支出/营收 | 4.6% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.13× |
| 过去12个月自由现金流最近4个季度 | $163.0M | $699.5M |
8季度趋势，按日历期对齐
经营现金流TRIPUI
| Q4 25 | $-103.0M | $263.9M | ||
| Q3 25 | $44.0M | $198.5M | ||
| Q2 25 | $202.0M | $130.4M | ||
| Q1 25 | $102.0M | $123.6M | ||
| Q4 24 | $-3.0M | $152.4M | ||
| Q3 24 | $-43.0M | $233.7M | ||
| Q2 24 | $51.0M | $231.4M | ||
| Q1 24 | $139.0M | $163.9M |
自由现金流TRIPUI
| Q4 25 | $-122.0M | $260.3M | ||
| Q3 25 | $25.0M | $193.3M | ||
| Q2 25 | $177.0M | $125.2M | ||
| Q1 25 | $83.0M | $120.7M | ||
| Q4 24 | $-26.0M | $150.4M | ||
| Q3 24 | $-63.0M | $231.1M | ||
| Q2 24 | $36.0M | $229.5M | ||
| Q1 24 | $123.0M | $160.6M |
自由现金流率TRIPUI
| Q4 25 | -29.7% | 31.9% | ||
| Q3 25 | 4.5% | 26.3% | ||
| Q2 25 | 33.5% | 16.5% | ||
| Q1 25 | 20.9% | 18.2% | ||
| Q4 24 | -6.3% | 25.1% | ||
| Q3 24 | -11.8% | 42.0% | ||
| Q2 24 | 7.2% | 45.2% | ||
| Q1 24 | 31.1% | 32.6% |
资本支出强度TRIPUI
| Q4 25 | 4.6% | 0.4% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 4.7% | 0.7% | ||
| Q1 25 | 4.8% | 0.4% | ||
| Q4 24 | 5.6% | 0.3% | ||
| Q3 24 | 3.8% | 0.5% | ||
| Q2 24 | 3.0% | 0.4% | ||
| Q1 24 | 4.1% | 0.7% |
现金转化率TRIPUI
| Q4 25 | — | 1.13× | ||
| Q3 25 | 0.83× | 0.95× | ||
| Q2 25 | 5.61× | 0.49× | ||
| Q1 25 | — | 0.68× | ||
| Q4 24 | -3.00× | 1.11× | ||
| Q3 24 | -1.10× | 1.83× | ||
| Q2 24 | 2.13× | 2.23× | ||
| Q1 24 | — | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
