vs
Artisan Partners Asset Management Inc.（APAM）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Artisan Partners Asset Management Inc.的1.1倍（$362.7M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -10.7%，领先45.9%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
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。
APAM vs VNET — 直观对比
营收规模更大
VNET
是对方的1.1倍
$335.5M
净利率更高
APAM
高出45.9%
-10.7%
自由现金流更多
APAM
多$364.7M
$-193.1M
两年增速更快
VNET
近两年复合增速
12.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $362.7M |
| 净利润 | $118.1M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 39.2% | 0.5% |
| 净利率 | 35.2% | -10.7% |
| 营收同比 | 12.9% | — |
| 净利润同比 | 34.9% | — |
| 每股收益（稀释后） | $1.36 | — |
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APAMVNET
| Q4 25 | $335.5M | — | ||
| Q3 25 | $301.3M | $362.7M | ||
| Q2 25 | $282.7M | — | ||
| Q1 25 | $277.1M | $309.5M | ||
| Q4 24 | $297.1M | — | ||
| Q3 24 | $279.6M | $302.2M | ||
| Q2 24 | $270.8M | $274.4M | ||
| Q1 24 | $264.4M | $262.9M |
净利润APAMVNET
| Q4 25 | $118.1M | — | ||
| Q3 25 | $66.8M | $-38.7M | ||
| Q2 25 | $67.6M | — | ||
| Q1 25 | $61.1M | $-2.4M | ||
| Q4 24 | $87.5M | — | ||
| Q3 24 | $73.0M | $-2.1M | ||
| Q2 24 | $57.6M | $-1.1M | ||
| Q1 24 | $59.5M | $-22.0M |
毛利率APAMVNET
| 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APAMVNET
| Q4 25 | 39.2% | — | ||
| Q3 25 | 33.8% | 0.5% | ||
| Q2 25 | 28.2% | — | ||
| Q1 25 | 31.2% | 0.1% | ||
| Q4 24 | 36.7% | — | ||
| Q3 24 | 33.3% | 24.5% | ||
| Q2 24 | 32.0% | 0.2% | ||
| Q1 24 | 29.4% | 0.2% |
净利率APAMVNET
| Q4 25 | 35.2% | — | ||
| Q3 25 | 22.2% | -10.7% | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 22.1% | -0.8% | ||
| Q4 24 | 29.5% | — | ||
| Q3 24 | 26.1% | -0.7% | ||
| Q2 24 | 21.3% | -0.4% | ||
| Q1 24 | 22.5% | -8.4% |
每股收益（稀释后）APAMVNET
| Q4 25 | $1.36 | — | ||
| Q3 25 | $0.93 | — | ||
| Q2 25 | $0.94 | — | ||
| Q1 25 | $0.82 | — | ||
| Q4 24 | $0.99 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $0.80 | — | ||
| Q1 24 | $0.84 | — |
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 | — | $492.1M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $890.8M |
| 总资产 | $1.6B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资APAMVNET
| Q4 25 | — | — | ||
| Q3 25 | — | $492.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $544.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $219.5M | ||
| Q2 24 | — | $247.2M | ||
| Q1 24 | — | $246.9M |
总债务APAMVNET
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | $1.2B | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | — |
股东权益APAMVNET
| Q4 25 | $438.8M | — | ||
| Q3 25 | $402.1M | $890.8M | ||
| Q2 25 | $381.8M | — | ||
| Q1 25 | $356.5M | $927.8M | ||
| Q4 24 | $388.9M | — | ||
| Q3 24 | $372.1M | $902.9M | ||
| Q2 24 | $341.2M | $900.6M | ||
| Q1 24 | $320.3M | $895.1M |
总资产APAMVNET
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | $6.1B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | $5.4B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $4.3B | ||
| Q2 24 | $1.5B | $4.0B | ||
| Q1 24 | $1.5B | $3.9B |
负债/权益比APAMVNET
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | 1.28× | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $-193.1M |
| 自由现金流率自由现金流/营收 | 51.2% | -53.2% |
| 资本支出强度资本支出/营收 | 0.1% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流APAMVNET
| Q4 25 | $172.0M | — | ||
| Q3 25 | $40.4M | $113.8M | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $157.9M | $27.0M | ||
| Q4 24 | $372.8M | — | ||
| Q3 24 | $112.8M | $108.3M | ||
| Q2 24 | $75.9M | $55.8M | ||
| Q1 24 | $147.0M | $37.1M |
自由现金流APAMVNET
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | $-193.1M | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $157.7M | $-220.0M | ||
| Q4 24 | $371.3M | — | ||
| Q3 24 | $112.4M | $-95.0M | ||
| Q2 24 | $75.2M | $-81.6M | ||
| Q1 24 | $146.9M | $-102.2M |
自由现金流率APAMVNET
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | -53.2% | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 56.9% | -71.1% | ||
| Q4 24 | 125.0% | — | ||
| Q3 24 | 40.2% | -31.4% | ||
| Q2 24 | 27.8% | -29.8% | ||
| Q1 24 | 55.6% | -38.9% |
资本支出强度APAMVNET
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 84.6% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | 79.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | 67.3% | ||
| Q2 24 | 0.2% | 50.1% | ||
| Q1 24 | 0.0% | 53.0% |
现金转化率APAMVNET
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 2.58× | — | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
