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American Homes 4 Rent（AMH）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
American Homes 4 Rent的季度营收约是世纪互联的1.3倍（$455.0M vs $362.7M），American Homes 4 Rent净利率更高（31.7% vs -10.7%，领先42.4%），American Homes 4 Rent自由现金流更多（$823.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 3.6%）
AMH（American Homes 4 Rent）是总部位于美国内华达州拉斯维加斯的住宅房地产投资信托基金，主打单户住宅租赁业务。截至2019年12月31日，公司在全美22个州共持有52552套住宅，资产主要集中在亚特兰大、达拉斯-沃斯堡及北卡罗来纳州夏洛特地区。
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。
AMH vs VNET — 直观对比
营收规模更大
AMH
是对方的1.3倍
$362.7M
净利率更高
AMH
高出42.4%
-10.7%
自由现金流更多
AMH
多$1.0B
$-193.1M
两年增速更快
VNET
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $455.0M | $362.7M |
| 净利润 | $144.3M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | — | 0.5% |
| 净利率 | 31.7% | -10.7% |
| 营收同比 | 4.2% | — |
| 净利润同比 | 0.3% | — |
| 每股收益（稀释后） | $0.33 | — |
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AMHVNET
| Q4 25 | $455.0M | — | ||
| Q3 25 | $478.5M | $362.7M | ||
| Q2 25 | $457.5M | — | ||
| Q1 25 | $459.3M | $309.5M | ||
| Q4 24 | $436.6M | — | ||
| Q3 24 | $445.1M | $302.2M | ||
| Q2 24 | $423.5M | $274.4M | ||
| Q1 24 | $423.6M | $262.9M |
净利润AMHVNET
| Q4 25 | $144.3M | — | ||
| Q3 25 | $116.8M | $-38.7M | ||
| Q2 25 | $123.6M | — | ||
| Q1 25 | $128.7M | $-2.4M | ||
| Q4 24 | $143.9M | — | ||
| Q3 24 | $87.6M | $-2.1M | ||
| Q2 24 | $108.5M | $-1.1M | ||
| Q1 24 | $128.1M | $-22.0M |
毛利率AMHVNET
| 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AMHVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.2% |
净利率AMHVNET
| Q4 25 | 31.7% | — | ||
| Q3 25 | 24.4% | -10.7% | ||
| Q2 25 | 27.0% | — | ||
| Q1 25 | 28.0% | -0.8% | ||
| Q4 24 | 33.0% | — | ||
| Q3 24 | 19.7% | -0.7% | ||
| Q2 24 | 25.6% | -0.4% | ||
| Q1 24 | 30.2% | -8.4% |
每股收益（稀释后）AMHVNET
| Q4 25 | $0.33 | — | ||
| Q3 25 | $0.27 | — | ||
| Q2 25 | $0.28 | — | ||
| Q1 25 | $0.30 | — | ||
| Q4 24 | $0.33 | — | ||
| Q3 24 | $0.20 | — | ||
| Q2 24 | $0.25 | — | ||
| Q1 24 | $0.30 | — |
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 | $108.5M | $492.1M |
| 总债务越低越好 | $5.1B | — |
| 股东权益账面价值 | $7.0B | $890.8M |
| 总资产 | $13.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.72× | — |
8季度趋势，按日历期对齐
现金及短期投资AMHVNET
| Q4 25 | $108.5M | — | ||
| Q3 25 | $45.6M | $492.1M | ||
| Q2 25 | $323.3M | — | ||
| Q1 25 | $69.7M | $544.3M | ||
| Q4 24 | $199.4M | — | ||
| Q3 24 | $162.5M | $219.5M | ||
| Q2 24 | $718.4M | $247.2M | ||
| Q1 24 | $124.8M | $246.9M |
总债务AMHVNET
| Q4 25 | $5.1B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | $1.2B | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $4.5B | — |
股东权益AMHVNET
| Q4 25 | $7.0B | — | ||
| Q3 25 | $7.2B | $890.8M | ||
| Q2 25 | $7.2B | — | ||
| Q1 25 | $7.2B | $927.8M | ||
| Q4 24 | $7.2B | — | ||
| Q3 24 | $7.0B | $902.9M | ||
| Q2 24 | $7.0B | $900.6M | ||
| Q1 24 | $7.0B | $895.1M |
总资产AMHVNET
| Q4 25 | $13.2B | — | ||
| Q3 25 | $13.3B | $6.1B | ||
| Q2 25 | $13.6B | — | ||
| Q1 25 | $13.3B | $5.4B | ||
| Q4 24 | $13.4B | — | ||
| Q3 24 | $12.8B | $4.3B | ||
| Q2 24 | $13.3B | $4.0B | ||
| Q1 24 | $12.8B | $3.9B |
负债/权益比AMHVNET
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.68× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | 1.28× | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.64× | — |
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 | $864.3M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $823.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | 181.0% | -53.2% |
| 资本支出强度资本支出/营收 | 8.9% | 84.6% |
| 现金转化率经营现金流/净利润 | 5.99× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | $-589.7M |
8季度趋势，按日历期对齐
经营现金流AMHVNET
| Q4 25 | $864.3M | — | ||
| Q3 25 | $223.3M | $113.8M | ||
| Q2 25 | $271.9M | — | ||
| Q1 25 | $223.4M | $27.0M | ||
| Q4 24 | $811.5M | — | ||
| Q3 24 | $233.6M | $108.3M | ||
| Q2 24 | $274.0M | $55.8M | ||
| Q1 24 | $201.8M | $37.1M |
自由现金流AMHVNET
| Q4 25 | $823.7M | — | ||
| Q3 25 | $214.5M | $-193.1M | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $215.9M | $-220.0M | ||
| Q4 24 | $777.5M | — | ||
| Q3 24 | $225.3M | $-95.0M | ||
| Q2 24 | $263.3M | $-81.6M | ||
| Q1 24 | $191.0M | $-102.2M |
自由现金流率AMHVNET
| Q4 25 | 181.0% | — | ||
| Q3 25 | 44.8% | -53.2% | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 47.0% | -71.1% | ||
| Q4 24 | 178.1% | — | ||
| Q3 24 | 50.6% | -31.4% | ||
| Q2 24 | 62.2% | -29.8% | ||
| Q1 24 | 45.1% | -38.9% |
资本支出强度AMHVNET
| Q4 25 | 8.9% | — | ||
| Q3 25 | 1.8% | 84.6% | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 1.6% | 79.8% | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 1.9% | 67.3% | ||
| Q2 24 | 2.5% | 50.1% | ||
| Q1 24 | 2.6% | 53.0% |
现金转化率AMHVNET
| Q4 25 | 5.99× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | — | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 1.58× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
