vs
BKV Corp（BKV）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BKV Corp的1.4倍（$362.7M vs $255.9M），BKV Corp净利率更高（27.5% vs -10.7%，领先38.2%）
BKV Corp是一家北美独立能源企业，专注于天然气的可持续勘探、生产与配送，核心运营资产位于阿巴拉契亚盆地，服务区域内公用事业、工业及商业客户，同时投资碳捕获等低碳技术以降低运营排放。
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。
BKV vs VNET — 直观对比
营收规模更大
VNET
是对方的1.4倍
$255.9M
净利率更高
BKV
高出38.2%
-10.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $255.9M | $362.7M |
| 净利润 | $70.4M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 39.3% | 0.5% |
| 净利率 | 27.5% | -10.7% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.78 | — |
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BKVVNET
| Q4 25 | $255.9M | — | ||
| Q3 25 | $199.8M | $362.7M | ||
| Q2 25 | $207.1M | — | ||
| Q1 25 | $231.0M | $309.5M | ||
| Q3 24 | $133.5M | $302.2M | ||
| Q2 24 | — | $274.4M | ||
| Q1 24 | — | $262.9M | ||
| Q3 23 | — | $258.6M |
净利润BKVVNET
| Q4 25 | $70.4M | — | ||
| Q3 25 | $76.8M | $-38.7M | ||
| Q2 25 | $104.6M | — | ||
| Q1 25 | $-78.7M | $-2.4M | ||
| Q3 24 | $12.9M | $-2.1M | ||
| Q2 24 | — | $-1.1M | ||
| Q1 24 | — | $-22.0M | ||
| Q3 23 | — | $-5.5M |
毛利率BKVVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% | ||
| Q3 23 | — | 16.2% |
营业利润率BKVVNET
| Q4 25 | 39.3% | — | ||
| Q3 25 | 41.2% | 0.5% | ||
| Q2 25 | 62.0% | — | ||
| Q1 25 | -40.6% | 0.1% | ||
| Q3 24 | -15.7% | 24.5% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.2% | ||
| Q3 23 | — | 1.7% |
净利率BKVVNET
| Q4 25 | 27.5% | — | ||
| Q3 25 | 38.5% | -10.7% | ||
| Q2 25 | 50.5% | — | ||
| Q1 25 | -34.1% | -0.8% | ||
| Q3 24 | 9.6% | -0.7% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | — | -8.4% | ||
| Q3 23 | — | -2.1% |
每股收益（稀释后）BKVVNET
| Q4 25 | $0.78 | — | ||
| Q3 25 | $0.90 | — | ||
| Q2 25 | $1.23 | — | ||
| Q1 25 | $-0.93 | — | ||
| Q3 24 | $0.18 | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
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 | $199.4M | $492.1M |
| 总债务越低越好 | $486.8M | — |
| 股东权益账面价值 | $2.0B | $890.8M |
| 总资产 | $3.1B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.24× | — |
8季度趋势，按日历期对齐
现金及短期投资BKVVNET
| Q4 25 | $199.4M | — | ||
| Q3 25 | $83.1M | $492.1M | ||
| Q2 25 | $21.4M | — | ||
| Q1 25 | $15.3M | $544.3M | ||
| Q3 24 | $31.3M | $219.5M | ||
| Q2 24 | — | $247.2M | ||
| Q1 24 | — | $246.9M | ||
| Q3 23 | — | $370.4M |
总债务BKVVNET
| Q4 25 | $486.8M | — | ||
| Q3 25 | $486.6M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q3 24 | $190.0M | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
股东权益BKVVNET
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.8B | $890.8M | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | $927.8M | ||
| Q3 24 | $1.6B | $902.9M | ||
| Q2 24 | — | $900.6M | ||
| Q1 24 | — | $895.1M | ||
| Q3 23 | — | $942.7M |
总资产BKVVNET
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.9B | $6.1B | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | $5.4B | ||
| Q3 24 | $2.3B | $4.3B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | — | $3.9B | ||
| Q3 23 | — | $4.1B |
负债/权益比BKVVNET
| Q4 25 | 0.24× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q3 24 | 0.12× | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
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 | $69.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | — | 84.6% |
| 现金转化率经营现金流/净利润 | 0.99× | — |
| 过去12个月自由现金流最近4个季度 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流BKVVNET
| Q4 25 | $69.4M | — | ||
| Q3 25 | $74.5M | $113.8M | ||
| Q2 25 | $76.2M | — | ||
| Q1 25 | $22.6M | $27.0M | ||
| Q3 24 | — | $108.3M | ||
| Q2 24 | — | $55.8M | ||
| Q1 24 | — | $37.1M | ||
| Q3 23 | — | $62.3M |
自由现金流BKVVNET
| Q4 25 | — | — | ||
| Q3 25 | $-126.9M | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-220.0M | ||
| Q3 24 | — | $-95.0M | ||
| Q2 24 | — | $-81.6M | ||
| Q1 24 | — | $-102.2M | ||
| Q3 23 | — | $-67.5M |
自由现金流率BKVVNET
| Q4 25 | — | — | ||
| Q3 25 | -63.5% | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -71.1% | ||
| Q3 24 | — | -31.4% | ||
| Q2 24 | — | -29.8% | ||
| Q1 24 | — | -38.9% | ||
| Q3 23 | — | -26.1% |
资本支出强度BKVVNET
| Q4 25 | — | — | ||
| Q3 25 | 100.9% | 84.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 79.8% | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | — | 53.0% | ||
| Q3 23 | — | 50.2% |
现金转化率BKVVNET
| Q4 25 | 0.99× | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
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
BKV
| Natural Gas NGL And Oil | $249.3M | 97% |
| Related Party And Other | $4.7M | 2% |
| Marketing | $2.8M | 1% |
VNET
暂无分部数据
