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COMMERCE BANCSHARES INC（CBSH）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
COMMERCE BANCSHARES INC的季度营收约是世纪互联的1.3倍（$475.7M vs $362.7M），COMMERCE BANCSHARES INC净利率更高（29.8% vs -10.7%，领先40.4%），过去两年世纪互联的营收复合增速更高（17.4% vs 7.1%）
Commerce Bancshares, Inc.是总部位于美国密苏里州的区域性银行控股公司，在堪萨斯城和圣路易斯设有核心办公点，旗下Commerce Bank提供多元化金融服务，覆盖企业及个人银行、财富管理、关联公司投资等业务。
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。
CBSH vs VNET — 直观对比
营收规模更大
CBSH
是对方的1.3倍
$362.7M
净利率更高
CBSH
高出40.4%
-10.7%
两年增速更快
VNET
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $475.7M | $362.7M |
| 净利润 | $141.6M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | — | 0.5% |
| 净利率 | 29.8% | -10.7% |
| 营收同比 | 11.1% | — |
| 净利润同比 | 10.5% | — |
| 每股收益（稀释后） | $0.96 | — |
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CBSHVNET
| Q1 26 | $475.7M | — | ||
| Q4 25 | $449.4M | — | ||
| Q3 25 | $441.0M | $362.7M | ||
| Q2 25 | $445.8M | — | ||
| Q1 25 | $428.1M | $309.5M | ||
| Q4 24 | $422.1M | — | ||
| Q3 24 | $421.4M | $302.2M | ||
| Q2 24 | $414.5M | $274.4M |
净利润CBSHVNET
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | — | ||
| Q3 25 | $141.5M | $-38.7M | ||
| Q2 25 | $152.5M | — | ||
| Q1 25 | $131.6M | $-2.4M | ||
| Q4 24 | $136.1M | — | ||
| Q3 24 | $138.0M | $-2.1M | ||
| Q2 24 | $139.6M | $-1.1M |
毛利率CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | — | ||
| Q3 25 | 41.9% | 0.5% | ||
| Q2 25 | 44.0% | — | ||
| Q1 25 | 39.2% | 0.1% | ||
| Q4 24 | 41.2% | — | ||
| Q3 24 | 42.4% | 24.5% | ||
| Q2 24 | 43.4% | 0.2% |
净利率CBSHVNET
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | — | ||
| Q3 25 | 32.1% | -10.7% | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 30.7% | -0.8% | ||
| Q4 24 | 32.2% | — | ||
| Q3 24 | 32.8% | -0.7% | ||
| Q2 24 | 33.7% | -0.4% |
每股收益（稀释后）CBSHVNET
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | — | ||
| Q3 25 | $1.06 | — | ||
| Q2 25 | $1.14 | — | ||
| Q1 25 | $0.98 | — | ||
| Q4 24 | $0.83 | — | ||
| Q3 24 | $1.01 | — | ||
| Q2 24 | $1.03 | — |
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 | $4.3B | $890.8M |
| 总资产 | $35.7B | $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CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $492.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $544.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $219.5M | ||
| Q2 24 | — | $247.2M |
总债务CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益CBSHVNET
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.8B | $890.8M | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.5B | $927.8M | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.4B | $902.9M | ||
| Q2 24 | $3.1B | $900.6M |
总资产CBSHVNET
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | — | ||
| Q3 25 | $32.3B | $6.1B | ||
| Q2 25 | $32.3B | — | ||
| Q1 25 | $32.4B | $5.4B | ||
| Q4 24 | $32.0B | — | ||
| Q3 24 | $31.5B | $4.3B | ||
| Q2 24 | $30.6B | $4.0B |
负债/权益比CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 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 | — | $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 | — | — |
| 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CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | — | ||
| Q3 25 | $129.0M | $113.8M | ||
| Q2 25 | $111.2M | — | ||
| Q1 25 | $138.6M | $27.0M | ||
| Q4 24 | $577.9M | — | ||
| Q3 24 | $431.7M | $108.3M | ||
| Q2 24 | $147.4M | $55.8M |
自由现金流CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | — | ||
| Q3 25 | $113.3M | $-193.1M | ||
| Q2 25 | $100.5M | — | ||
| Q1 25 | $126.0M | $-220.0M | ||
| Q4 24 | $531.7M | — | ||
| Q3 24 | $419.1M | $-95.0M | ||
| Q2 24 | $138.9M | $-81.6M |
自由现金流率CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | — | ||
| Q3 25 | 25.7% | -53.2% | ||
| Q2 25 | 22.5% | — | ||
| Q1 25 | 29.4% | -71.1% | ||
| Q4 24 | 126.0% | — | ||
| Q3 24 | 99.5% | -31.4% | ||
| Q2 24 | 33.5% | -29.8% |
资本支出强度CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 3.6% | 84.6% | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 2.9% | 79.8% | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 3.0% | 67.3% | ||
| Q2 24 | 2.1% | 50.1% |
现金转化率CBSHVNET
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 4.25× | — | ||
| Q3 24 | 3.13× | — | ||
| Q2 24 | 1.06× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
