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BADGER METER INC（BMI）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BADGER METER INC的1.5倍（$362.7M vs $234.1M），BADGER METER INC净利率更高（14.3% vs -10.7%，领先25.0%），BADGER METER INC自由现金流更多（$50.8M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 9.2%）
Badger Meter Inc是全球领先的流量测量与控制解决方案供应商，主要服务水务企业、工业、商业及住宅客户群体，核心产品包括智能水表、物联网使用监测系统及配套软件，可帮助客户追踪资源消耗、减少浪费、提升运营效率，核心市场覆盖北美、欧洲及亚太地区。
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。
BMI vs VNET — 直观对比
营收规模更大
VNET
是对方的1.5倍
$234.1M
净利率更高
BMI
高出25.0%
-10.7%
自由现金流更多
BMI
多$243.9M
$-193.1M
两年增速更快
VNET
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $234.1M | $362.7M |
| 净利润 | $33.6M | $-38.7M |
| 毛利率 | 39.7% | 20.9% |
| 营业利润率 | 18.4% | 0.5% |
| 净利率 | 14.3% | -10.7% |
| 营收同比 | 14.1% | — |
| 净利润同比 | 9.3% | — |
| 每股收益（稀释后） | $1.13 | — |
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BMIVNET
| Q4 25 | $234.1M | — | ||
| Q3 25 | $222.2M | $362.7M | ||
| Q2 25 | $238.1M | — | ||
| Q1 25 | $222.2M | $309.5M | ||
| Q4 24 | $205.2M | — | ||
| Q3 24 | $208.4M | $302.2M | ||
| Q2 24 | $216.7M | $274.4M | ||
| Q1 24 | $196.3M | $262.9M |
净利润BMIVNET
| Q4 25 | $33.6M | — | ||
| Q3 25 | $35.1M | $-38.7M | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $38.4M | $-2.4M | ||
| Q4 24 | $30.7M | — | ||
| Q3 24 | $32.0M | $-2.1M | ||
| Q2 24 | $33.1M | $-1.1M | ||
| Q1 24 | $29.1M | $-22.0M |
毛利率BMIVNET
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.1% | 20.9% | ||
| Q2 25 | 41.1% | — | ||
| Q1 25 | 42.9% | 25.2% | ||
| Q4 24 | 40.3% | — | ||
| Q3 24 | 40.2% | 23.2% | ||
| Q2 24 | 39.4% | 21.3% | ||
| Q1 24 | 39.3% | 21.6% |
营业利润率BMIVNET
| Q4 25 | 18.4% | — | ||
| Q3 25 | 20.7% | 0.5% | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 22.2% | 0.1% | ||
| Q4 24 | 19.1% | — | ||
| Q3 24 | 19.5% | 24.5% | ||
| Q2 24 | 19.2% | 0.2% | ||
| Q1 24 | 18.6% | 0.2% |
净利率BMIVNET
| Q4 25 | 14.3% | — | ||
| Q3 25 | 15.8% | -10.7% | ||
| Q2 25 | 14.5% | — | ||
| Q1 25 | 17.3% | -0.8% | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 15.4% | -0.7% | ||
| Q2 24 | 15.3% | -0.4% | ||
| Q1 24 | 14.8% | -8.4% |
每股收益（稀释后）BMIVNET
| Q4 25 | $1.13 | — | ||
| Q3 25 | $1.19 | — | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $1.30 | — | ||
| Q4 24 | $1.04 | — | ||
| Q3 24 | $1.08 | — | ||
| Q2 24 | $1.12 | — | ||
| Q1 24 | $0.99 | — |
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 | — | — |
| 股东权益账面价值 | $713.3M | $890.8M |
| 总资产 | $973.6M | $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BMIVNET
| 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BMIVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BMIVNET
| Q4 25 | $713.3M | — | ||
| Q3 25 | $702.5M | $890.8M | ||
| Q2 25 | $677.6M | — | ||
| Q1 25 | $641.7M | $927.8M | ||
| Q4 24 | $606.2M | — | ||
| Q3 24 | $591.2M | $902.9M | ||
| Q2 24 | $563.1M | $900.6M | ||
| Q1 24 | $535.6M | $895.1M |
总资产BMIVNET
| Q4 25 | $973.6M | — | ||
| Q3 25 | $978.3M | $6.1B | ||
| Q2 25 | $936.4M | — | ||
| Q1 25 | $899.6M | $5.4B | ||
| Q4 24 | $816.4M | — | ||
| Q3 24 | $802.9M | $4.3B | ||
| Q2 24 | $781.3M | $4.0B | ||
| Q1 24 | $743.5M | $3.9B |
负债/权益比BMIVNET
| 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 | $54.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $50.8M | $-193.1M |
| 自由现金流率自由现金流/营收 | 21.7% | -53.2% |
| 资本支出强度资本支出/营收 | 1.7% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.63× | — |
| 过去12个月自由现金流最近4个季度 | $169.7M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流BMIVNET
| Q4 25 | $54.8M | — | ||
| Q3 25 | $51.3M | $113.8M | ||
| Q2 25 | $44.6M | — | ||
| Q1 25 | $33.0M | $27.0M | ||
| Q4 24 | $52.1M | — | ||
| Q3 24 | $45.1M | $108.3M | ||
| Q2 24 | $36.4M | $55.8M | ||
| Q1 24 | $21.5M | $37.1M |
自由现金流BMIVNET
| Q4 25 | $50.8M | — | ||
| Q3 25 | $48.2M | $-193.1M | ||
| Q2 25 | $40.6M | — | ||
| Q1 25 | $30.1M | $-220.0M | ||
| Q4 24 | $47.4M | — | ||
| Q3 24 | $42.0M | $-95.0M | ||
| Q2 24 | $34.1M | $-81.6M | ||
| Q1 24 | $18.8M | $-102.2M |
自由现金流率BMIVNET
| Q4 25 | 21.7% | — | ||
| Q3 25 | 21.7% | -53.2% | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 13.5% | -71.1% | ||
| Q4 24 | 23.1% | — | ||
| Q3 24 | 20.1% | -31.4% | ||
| Q2 24 | 15.7% | -29.8% | ||
| Q1 24 | 9.6% | -38.9% |
资本支出强度BMIVNET
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | 84.6% | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.3% | 79.8% | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 1.5% | 67.3% | ||
| Q2 24 | 1.1% | 50.1% | ||
| Q1 24 | 1.4% | 53.0% |
现金转化率BMIVNET
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.29× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.10× | — | ||
| Q1 24 | 0.74× | — |
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
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
VNET
暂无分部数据
