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BGC Group, Inc.（BGC）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
BGC Group, Inc.的季度营收约是世纪互联的1.8倍（$638.6M vs $362.7M），BGC Group, Inc.净利率更高（2.3% vs -10.7%，领先12.9%），BGC Group, Inc.自由现金流更多（$175.1M vs $-193.1M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 17.4%）
BGC集团是一家总部位于纽约和伦敦的美国全球性金融服务企业，最初隶属于康托·菲茨杰拉德集团，2004年正式独立运营，业务范围覆盖全球金融市场相关服务领域。
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。
BGC vs VNET — 直观对比
营收规模更大
BGC
是对方的1.8倍
$362.7M
净利率更高
BGC
高出12.9%
-10.7%
自由现金流更多
BGC
多$368.2M
$-193.1M
两年增速更快
BGC
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $362.7M |
| 净利润 | $14.4M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 3.9% | 0.5% |
| 净利率 | 2.3% | -10.7% |
| 营收同比 | 34.4% | — |
| 净利润同比 | -43.0% | — |
| 每股收益（稀释后） | $0.03 | — |
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BGCVNET
| Q4 25 | $638.6M | — | ||
| Q3 25 | $620.8M | $362.7M | ||
| Q2 25 | $648.0M | — | ||
| Q1 25 | $534.6M | $309.5M | ||
| Q4 24 | $475.2M | — | ||
| Q3 24 | $448.9M | $302.2M | ||
| Q2 24 | $435.0M | $274.4M | ||
| Q1 24 | $453.6M | $262.9M |
净利润BGCVNET
| Q4 25 | $14.4M | — | ||
| Q3 25 | $27.9M | $-38.7M | ||
| Q2 25 | $57.5M | — | ||
| Q1 25 | $55.2M | $-2.4M | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $14.7M | $-2.1M | ||
| Q2 24 | $37.8M | $-1.1M | ||
| Q1 24 | $49.2M | $-22.0M |
毛利率BGCVNET
| 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BGCVNET
| Q4 25 | 3.9% | — | ||
| Q3 25 | 5.4% | 0.5% | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 15.0% | 0.1% | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 4.4% | 24.5% | ||
| Q2 24 | 12.7% | 0.2% | ||
| Q1 24 | 15.7% | 0.2% |
净利率BGCVNET
| Q4 25 | 2.3% | — | ||
| Q3 25 | 4.5% | -10.7% | ||
| Q2 25 | 8.9% | — | ||
| Q1 25 | 10.3% | -0.8% | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 3.3% | -0.7% | ||
| Q2 24 | 8.7% | -0.4% | ||
| Q1 24 | 10.8% | -8.4% |
每股收益（稀释后）BGCVNET
| Q4 25 | $0.03 | — | ||
| Q3 25 | $0.06 | — | ||
| Q2 25 | $0.11 | — | ||
| Q1 25 | $0.11 | — | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $0.03 | — | ||
| Q2 24 | $0.08 | — | ||
| Q1 24 | $0.10 | — |
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 | $851.5M | $492.1M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $972.5M | $890.8M |
| 总资产 | $4.4B | $6.1B |
| 负债/权益比越低杠杆越低 | 1.58× | — |
8季度趋势，按日历期对齐
现金及短期投资BGCVNET
| Q4 25 | $851.5M | — | ||
| Q3 25 | $774.9M | $492.1M | ||
| Q2 25 | $827.8M | — | ||
| Q1 25 | $966.4M | $544.3M | ||
| Q4 24 | $711.6M | — | ||
| Q3 24 | $563.5M | $219.5M | ||
| Q2 24 | $571.7M | $247.2M | ||
| Q1 24 | $566.8M | $246.9M |
总债务BGCVNET
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $945.0M | — |
股东权益BGCVNET
| Q4 25 | $972.5M | — | ||
| Q3 25 | $965.3M | $890.8M | ||
| Q2 25 | $930.5M | — | ||
| Q1 25 | $963.8M | $927.8M | ||
| Q4 24 | $898.5M | — | ||
| Q3 24 | $860.1M | $902.9M | ||
| Q2 24 | $858.1M | $900.6M | ||
| Q1 24 | $912.1M | $895.1M |
总资产BGCVNET
| Q4 25 | $4.4B | — | ||
| Q3 25 | $5.8B | $6.1B | ||
| Q2 25 | $4.9B | — | ||
| Q1 25 | $4.9B | $5.4B | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $4.4B | $4.3B | ||
| Q2 24 | $4.3B | $4.0B | ||
| Q1 24 | $4.4B | $3.9B |
负债/权益比BGCVNET
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 1.97× | — | ||
| Q1 25 | 1.19× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.68× | 1.28× | ||
| Q2 24 | 1.68× | — | ||
| Q1 24 | 1.04× | — |
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 | $180.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $-193.1M |
| 自由现金流率自由现金流/营收 | 27.4% | -53.2% |
| 资本支出强度资本支出/营收 | 0.8% | 84.6% |
| 现金转化率经营现金流/净利润 | 12.55× | — |
| 过去12个月自由现金流最近4个季度 | $372.9M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流BGCVNET
| Q4 25 | $180.4M | — | ||
| Q3 25 | $141.9M | $113.8M | ||
| Q2 25 | $71.2M | — | ||
| Q1 25 | $839.0K | $27.0M | ||
| Q4 24 | $251.9M | — | ||
| Q3 24 | $88.3M | $108.3M | ||
| Q2 24 | $-53.0M | $55.8M | ||
| Q1 24 | $28.1M | $37.1M |
自由现金流BGCVNET
| Q4 25 | $175.1M | — | ||
| Q3 25 | $137.2M | $-193.1M | ||
| Q2 25 | $65.0M | — | ||
| Q1 25 | $-4.4M | $-220.0M | ||
| Q4 24 | $245.6M | — | ||
| Q3 24 | $78.8M | $-95.0M | ||
| Q2 24 | $-63.5M | $-81.6M | ||
| Q1 24 | $24.9M | $-102.2M |
自由现金流率BGCVNET
| Q4 25 | 27.4% | — | ||
| Q3 25 | 22.1% | -53.2% | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | -0.8% | -71.1% | ||
| Q4 24 | 51.7% | — | ||
| Q3 24 | 17.5% | -31.4% | ||
| Q2 24 | -14.6% | -29.8% | ||
| Q1 24 | 5.5% | -38.9% |
资本支出强度BGCVNET
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.8% | 84.6% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.0% | 79.8% | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 2.1% | 67.3% | ||
| Q2 24 | 2.4% | 50.1% | ||
| Q1 24 | 0.7% | 53.0% |
现金转化率BGCVNET
| Q4 25 | 12.55× | — | ||
| Q3 25 | 5.09× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 9.99× | — | ||
| Q3 24 | 5.99× | — | ||
| Q2 24 | -1.40× | — | ||
| Q1 24 | 0.57× | — |
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
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
VNET
暂无分部数据
