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Arhaus, Inc.（ARHS）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
Arhaus, Inc.的季度营收约是世纪互联的1.0倍（$364.8M vs $362.7M），Arhaus, Inc.净利率更高（4.1% vs -10.7%，领先14.8%），Arhaus, Inc.自由现金流更多（$-8.8M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 11.2%）
Arhaus, Inc.是源自美国的高端家居零售企业，总部位于俄亥俄州波士顿高地，1986年正式创立。品牌主打可持续理念与工匠级品质，产品品类丰富，采用全渠道模式面向个人消费者及企业客户，覆盖民用与商用家居场景，提供相关产品与配套服务。
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。
ARHS vs VNET — 直观对比
营收规模更大
ARHS
是对方的1.0倍
$362.7M
净利率更高
ARHS
高出14.8%
-10.7%
自由现金流更多
ARHS
多$184.3M
$-193.1M
两年增速更快
VNET
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $364.8M | $362.7M |
| 净利润 | $15.1M | $-38.7M |
| 毛利率 | 38.1% | 20.9% |
| 营业利润率 | 5.6% | 0.5% |
| 净利率 | 4.1% | -10.7% |
| 营收同比 | 5.1% | — |
| 净利润同比 | -29.1% | — |
| 每股收益（稀释后） | $0.11 | — |
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ARHSVNET
| Q4 25 | $364.8M | — | ||
| Q3 25 | $344.6M | $362.7M | ||
| Q2 25 | $358.4M | — | ||
| Q1 25 | $311.4M | $309.5M | ||
| Q4 24 | $347.0M | — | ||
| Q3 24 | $319.1M | $302.2M | ||
| Q2 24 | $309.8M | $274.4M | ||
| Q1 24 | $295.2M | $262.9M |
净利润ARHSVNET
| Q4 25 | $15.1M | — | ||
| Q3 25 | $12.2M | $-38.7M | ||
| Q2 25 | $35.1M | — | ||
| Q1 25 | $4.9M | $-2.4M | ||
| Q4 24 | $21.3M | — | ||
| Q3 24 | $9.9M | $-2.1M | ||
| Q2 24 | $22.2M | $-1.1M | ||
| Q1 24 | $15.1M | $-22.0M |
毛利率ARHSVNET
| Q4 25 | 38.1% | — | ||
| Q3 25 | 38.7% | 20.9% | ||
| Q2 25 | 41.4% | — | ||
| Q1 25 | 37.1% | 25.2% | ||
| Q4 24 | 40.0% | — | ||
| Q3 24 | 38.6% | 23.2% | ||
| Q2 24 | 40.1% | 21.3% | ||
| Q1 24 | 39.0% | 21.6% |
营业利润率ARHSVNET
| Q4 25 | 5.6% | — | ||
| Q3 25 | 4.8% | 0.5% | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 1.7% | 0.1% | ||
| Q4 24 | 8.2% | — | ||
| Q3 24 | 3.3% | 24.5% | ||
| Q2 24 | 9.5% | 0.2% | ||
| Q1 24 | 6.2% | 0.2% |
净利率ARHSVNET
| Q4 25 | 4.1% | — | ||
| Q3 25 | 3.5% | -10.7% | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | 1.6% | -0.8% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 3.1% | -0.7% | ||
| Q2 24 | 7.2% | -0.4% | ||
| Q1 24 | 5.1% | -8.4% |
每股收益（稀释后）ARHSVNET
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.09 | — | ||
| Q2 25 | $0.25 | — | ||
| Q1 25 | $0.03 | — | ||
| Q4 24 | $0.15 | — | ||
| Q3 24 | $0.07 | — | ||
| Q2 24 | $0.16 | — | ||
| Q1 24 | $0.11 | — |
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 | $253.4M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $418.2M | $890.8M |
| 总资产 | $1.4B | $6.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARHSVNET
| Q4 25 | $253.4M | — | ||
| Q3 25 | $262.2M | $492.1M | ||
| Q2 25 | $234.8M | — | ||
| Q1 25 | $214.4M | $544.3M | ||
| Q4 24 | $197.5M | — | ||
| Q3 24 | $177.7M | $219.5M | ||
| Q2 24 | $174.2M | $247.2M | ||
| Q1 24 | $233.2M | $246.9M |
总债务ARHSVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ARHSVNET
| Q4 25 | $418.2M | — | ||
| Q3 25 | $400.4M | $890.8M | ||
| Q2 25 | $385.6M | — | ||
| Q1 25 | $348.8M | $927.8M | ||
| Q4 24 | $343.7M | — | ||
| Q3 24 | $320.6M | $902.9M | ||
| Q2 24 | $309.3M | $900.6M | ||
| Q1 24 | $285.6M | $895.1M |
总资产ARHSVNET
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $6.1B | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | $5.4B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $4.3B | ||
| Q2 24 | $1.2B | $4.0B | ||
| Q1 24 | $1.2B | $3.9B |
负债/权益比ARHSVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $9.3M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-8.8M | $-193.1M |
| 自由现金流率自由现金流/营收 | -2.4% | -53.2% |
| 资本支出强度资本支出/营收 | 5.0% | 84.6% |
| 现金转化率经营现金流/净利润 | 0.62× | — |
| 过去12个月自由现金流最近4个季度 | $59.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流ARHSVNET
| Q4 25 | $9.3M | — | ||
| Q3 25 | $46.1M | $113.8M | ||
| Q2 25 | $34.9M | — | ||
| Q1 25 | $46.5M | $27.0M | ||
| Q4 24 | $31.7M | — | ||
| Q3 24 | $31.1M | $108.3M | ||
| Q2 24 | $47.5M | $55.8M | ||
| Q1 24 | $36.8M | $37.1M |
自由现金流ARHSVNET
| Q4 25 | $-8.8M | — | ||
| Q3 25 | $28.0M | $-193.1M | ||
| Q2 25 | $20.9M | — | ||
| Q1 25 | $18.9M | $-220.0M | ||
| Q4 24 | $13.0M | — | ||
| Q3 24 | $4.6M | $-95.0M | ||
| Q2 24 | $11.3M | $-81.6M | ||
| Q1 24 | $10.9M | $-102.2M |
自由现金流率ARHSVNET
| Q4 25 | -2.4% | — | ||
| Q3 25 | 8.1% | -53.2% | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 6.1% | -71.1% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 1.4% | -31.4% | ||
| Q2 24 | 3.6% | -29.8% | ||
| Q1 24 | 3.7% | -38.9% |
资本支出强度ARHSVNET
| Q4 25 | 5.0% | — | ||
| Q3 25 | 5.3% | 84.6% | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 8.9% | 79.8% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 8.3% | 67.3% | ||
| Q2 24 | 11.7% | 50.1% | ||
| Q1 24 | 8.8% | 53.0% |
现金转化率ARHSVNET
| Q4 25 | 0.62× | — | ||
| Q3 25 | 3.77× | — | ||
| Q2 25 | 1.00× | — | ||
| Q1 25 | 9.53× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 3.14× | — | ||
| Q2 24 | 2.14× | — | ||
| Q1 24 | 2.44× | — |
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
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
VNET
暂无分部数据
