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Adeia Inc.（ADEA）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是Adeia Inc.的2.0倍（$362.7M vs $182.6M），Adeia Inc.净利率更高（40.4% vs -10.7%，领先51.0%），Adeia Inc.自由现金流更多（$59.4M vs $-193.1M），过去两年Adeia Inc.的营收复合增速更高（48.0% vs 17.4%）
Adeia Inc.是一家全球化知识产权授权与创新企业，主营半导体制造、消费电子、媒体分发及智能设备领域的专利技术研发与商业化合作，与全球多家头部科技企业达成授权合作，推动相关行业技术升级。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
ADEA vs VNET — 直观对比
营收规模更大
VNET
是对方的2.0倍
$182.6M
净利率更高
ADEA
高出51.0%
-10.7%
自由现金流更多
ADEA
多$252.5M
$-193.1M
两年增速更快
ADEA
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $182.6M | $362.7M |
| 净利润 | $73.7M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 59.5% | 0.5% |
| 净利率 | 40.4% | -10.7% |
| 营收同比 | 53.3% | — |
| 净利润同比 | 104.6% | — |
| 每股收益（稀释后） | $0.66 | — |
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ADEAVNET
| Q4 25 | $182.6M | — | ||
| Q3 25 | $87.3M | $362.7M | ||
| Q2 25 | $85.7M | — | ||
| Q1 25 | $87.7M | $309.5M | ||
| Q4 24 | $119.2M | — | ||
| Q3 24 | $86.1M | $302.2M | ||
| Q2 24 | $87.3M | $274.4M | ||
| Q1 24 | $83.4M | $262.9M |
净利润ADEAVNET
| Q4 25 | $73.7M | — | ||
| Q3 25 | $8.8M | $-38.7M | ||
| Q2 25 | $16.7M | — | ||
| Q1 25 | $11.8M | $-2.4M | ||
| Q4 24 | $36.0M | — | ||
| Q3 24 | $19.3M | $-2.1M | ||
| Q2 24 | $8.4M | $-1.1M | ||
| Q1 24 | $899.0K | $-22.0M |
毛利率ADEAVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率ADEAVNET
| Q4 25 | 59.5% | — | ||
| Q3 25 | 30.9% | 0.5% | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 26.0% | 0.1% | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 32.7% | 24.5% | ||
| Q2 24 | 27.1% | 0.2% | ||
| Q1 24 | 23.2% | 0.2% |
净利率ADEAVNET
| Q4 25 | 40.4% | — | ||
| Q3 25 | 10.1% | -10.7% | ||
| Q2 25 | 19.5% | — | ||
| Q1 25 | 13.5% | -0.8% | ||
| Q4 24 | 30.2% | — | ||
| Q3 24 | 22.4% | -0.7% | ||
| Q2 24 | 9.6% | -0.4% | ||
| Q1 24 | 1.1% | -8.4% |
每股收益（稀释后）ADEAVNET
| Q4 25 | $0.66 | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $0.15 | — | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $0.17 | — | ||
| Q2 24 | $0.07 | — | ||
| Q1 24 | $0.01 | — |
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 | $136.7M | $492.1M |
| 总债务越低越好 | $418.5M | — |
| 股东权益账面价值 | $480.5M | $890.8M |
| 总资产 | $1.0B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资ADEAVNET
| Q4 25 | $136.7M | — | ||
| Q3 25 | $115.1M | $492.1M | ||
| Q2 25 | $116.5M | — | ||
| Q1 25 | $116.5M | $544.3M | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $89.2M | $219.5M | ||
| Q2 24 | $94.5M | $247.2M | ||
| Q1 24 | $89.0M | $246.9M |
总债务ADEAVNET
| Q4 25 | $418.5M | — | ||
| Q3 25 | $438.7M | — | ||
| Q2 25 | $448.9M | — | ||
| Q1 25 | $459.2M | — | ||
| Q4 24 | $475.5M | — | ||
| Q3 24 | $524.4M | $1.2B | ||
| Q2 24 | $535.6M | — | ||
| Q1 24 | $546.3M | — |
股东权益ADEAVNET
| Q4 25 | $480.5M | — | ||
| Q3 25 | $413.7M | $890.8M | ||
| Q2 25 | $402.9M | — | ||
| Q1 25 | $389.5M | $927.8M | ||
| Q4 24 | $396.6M | — | ||
| Q3 24 | $378.2M | $902.9M | ||
| Q2 24 | $359.1M | $900.6M | ||
| Q1 24 | $350.0M | $895.1M |
总资产ADEAVNET
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.1B | $6.1B | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | $5.4B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $4.3B | ||
| Q2 24 | $1.1B | $4.0B | ||
| Q1 24 | $1.1B | $3.9B |
负债/权益比ADEAVNET
| Q4 25 | 0.87× | — | ||
| Q3 25 | 1.06× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 1.20× | — | ||
| Q3 24 | 1.39× | 1.28× | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.56× | — |
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 | $60.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $59.4M | $-193.1M |
| 自由现金流率自由现金流/营收 | 32.5% | -53.2% |
| 资本支出强度资本支出/营收 | 0.3% | 84.6% |
| 现金转化率经营现金流/净利润 | 0.81× | — |
| 过去12个月自由现金流最近4个季度 | $156.3M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流ADEAVNET
| Q4 25 | $60.0M | — | ||
| Q3 25 | $17.8M | $113.8M | ||
| Q2 25 | $23.1M | — | ||
| Q1 25 | $57.1M | $27.0M | ||
| Q4 24 | $107.5M | — | ||
| Q3 24 | $14.3M | $108.3M | ||
| Q2 24 | $23.5M | $55.8M | ||
| Q1 24 | $67.2M | $37.1M |
自由现金流ADEAVNET
| Q4 25 | $59.4M | — | ||
| Q3 25 | $17.0M | $-193.1M | ||
| Q2 25 | $22.9M | — | ||
| Q1 25 | $56.9M | $-220.0M | ||
| Q4 24 | $106.9M | — | ||
| Q3 24 | $14.3M | $-95.0M | ||
| Q2 24 | $23.0M | $-81.6M | ||
| Q1 24 | $66.4M | $-102.2M |
自由现金流率ADEAVNET
| Q4 25 | 32.5% | — | ||
| Q3 25 | 19.5% | -53.2% | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 64.9% | -71.1% | ||
| Q4 24 | 89.7% | — | ||
| Q3 24 | 16.6% | -31.4% | ||
| Q2 24 | 26.4% | -29.8% | ||
| Q1 24 | 79.7% | -38.9% |
资本支出强度ADEAVNET
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.9% | 84.6% | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.3% | 79.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | 67.3% | ||
| Q2 24 | 0.5% | 50.1% | ||
| Q1 24 | 1.0% | 53.0% |
现金转化率ADEAVNET
| Q4 25 | 0.81× | — | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 4.84× | — | ||
| Q4 24 | 2.98× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 2.80× | — | ||
| Q1 24 | 74.78× | — |
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
ADEA
| Media Platform | $172.9M | 95% |
| Semiconductor | $9.7M | 5% |
VNET
暂无分部数据
