vs
CULLEN/FROST BANKERS, INC.（CFR）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
CULLEN/FROST BANKERS, INC.的季度营收约是世纪互联的1.6倍（$580.9M vs $362.7M），CULLEN/FROST BANKERS, INC.净利率更高（28.6% vs -10.7%，领先39.3%），CULLEN/FROST BANKERS, INC.自由现金流更多（$127.3M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 7.6%）
Frost Bank是总部位于美国圣安东尼奥的德克萨斯州特许银行，为银行控股公司卡伦/弗罗斯特银行家集团的核心子公司。其在得克萨斯州共设有200家营业网点、1750台自动柜员机，按总资产规模统计位列全美前60大银行之列。
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。
CFR vs VNET — 直观对比
营收规模更大
CFR
是对方的1.6倍
$362.7M
净利率更高
CFR
高出39.3%
-10.7%
自由现金流更多
CFR
多$320.4M
$-193.1M
两年增速更快
VNET
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $580.9M | $362.7M |
| 净利润 | $166.3M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 34.1% | 0.5% |
| 净利率 | 28.6% | -10.7% |
| 营收同比 | 8.3% | — |
| 净利润同比 | 7.4% | — |
| 每股收益（稀释后） | $2.56 | — |
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CFRVNET
| Q4 25 | $580.9M | — | ||
| Q3 25 | $567.3M | $362.7M | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | $540.2M | $309.5M | ||
| Q4 24 | $536.3M | — | ||
| Q3 24 | $518.0M | $302.2M | ||
| Q2 24 | $507.9M | $274.4M | ||
| Q1 24 | $501.4M | $262.9M |
净利润CFRVNET
| Q4 25 | $166.3M | — | ||
| Q3 25 | $174.4M | $-38.7M | ||
| Q2 25 | $157.0M | — | ||
| Q1 25 | $150.9M | $-2.4M | ||
| Q4 24 | $154.9M | — | ||
| Q3 24 | $146.5M | $-2.1M | ||
| Q2 24 | $145.5M | $-1.1M | ||
| Q1 24 | $135.7M | $-22.0M |
毛利率CFRVNET
| 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CFRVNET
| Q4 25 | 34.1% | — | ||
| Q3 25 | 36.7% | 0.5% | ||
| Q2 25 | 34.1% | — | ||
| Q1 25 | 33.2% | 0.1% | ||
| Q4 24 | 34.3% | — | ||
| Q3 24 | 33.8% | 24.5% | ||
| Q2 24 | 34.5% | 0.2% | ||
| Q1 24 | 32.2% | 0.2% |
净利率CFRVNET
| Q4 25 | 28.6% | — | ||
| Q3 25 | 30.7% | -10.7% | ||
| Q2 25 | 28.7% | — | ||
| Q1 25 | 27.9% | -0.8% | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 28.3% | -0.7% | ||
| Q2 24 | 28.6% | -0.4% | ||
| Q1 24 | 27.1% | -8.4% |
每股收益（稀释后）CFRVNET
| Q4 25 | $2.56 | — | ||
| Q3 25 | $2.67 | — | ||
| Q2 25 | $2.39 | — | ||
| Q1 25 | $2.30 | — | ||
| Q4 24 | $2.36 | — | ||
| Q3 24 | $2.24 | — | ||
| Q2 24 | $2.21 | — | ||
| Q1 24 | $2.06 | — |
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 | $4.6B | $890.8M |
| 总资产 | $53.0B | $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CFRVNET
| 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CFRVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CFRVNET
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.5B | $890.8M | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.1B | $927.8M | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $4.1B | $902.9M | ||
| Q2 24 | $3.7B | $900.6M | ||
| Q1 24 | $3.6B | $895.1M |
总资产CFRVNET
| Q4 25 | $53.0B | — | ||
| Q3 25 | $52.5B | $6.1B | ||
| Q2 25 | $51.4B | — | ||
| Q1 25 | $52.0B | $5.4B | ||
| Q4 24 | $52.5B | — | ||
| Q3 24 | $51.0B | $4.3B | ||
| Q2 24 | $48.8B | $4.0B | ||
| Q1 24 | $49.5B | $3.9B |
负债/权益比CFRVNET
| 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 | $274.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $127.3M | $-193.1M |
| 自由现金流率自由现金流/营收 | 21.9% | -53.2% |
| 资本支出强度资本支出/营收 | 25.2% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $116.4M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流CFRVNET
| Q4 25 | $274.0M | — | ||
| Q3 25 | $248.6M | $113.8M | ||
| Q2 25 | $140.8M | — | ||
| Q1 25 | $-296.1M | $27.0M | ||
| Q4 24 | $989.5M | — | ||
| Q3 24 | $307.2M | $108.3M | ||
| Q2 24 | $129.6M | $55.8M | ||
| Q1 24 | $488.4M | $37.1M |
自由现金流CFRVNET
| Q4 25 | $127.3M | — | ||
| Q3 25 | $211.7M | $-193.1M | ||
| Q2 25 | $114.5M | — | ||
| Q1 25 | $-337.1M | $-220.0M | ||
| Q4 24 | $861.8M | — | ||
| Q3 24 | $281.9M | $-95.0M | ||
| Q2 24 | $103.0M | $-81.6M | ||
| Q1 24 | $450.3M | $-102.2M |
自由现金流率CFRVNET
| Q4 25 | 21.9% | — | ||
| Q3 25 | 37.3% | -53.2% | ||
| Q2 25 | 20.9% | — | ||
| Q1 25 | -62.4% | -71.1% | ||
| Q4 24 | 160.7% | — | ||
| Q3 24 | 54.4% | -31.4% | ||
| Q2 24 | 20.3% | -29.8% | ||
| Q1 24 | 89.8% | -38.9% |
资本支出强度CFRVNET
| Q4 25 | 25.2% | — | ||
| Q3 25 | 6.5% | 84.6% | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 7.6% | 79.8% | ||
| Q4 24 | 23.8% | — | ||
| Q3 24 | 4.9% | 67.3% | ||
| Q2 24 | 5.2% | 50.1% | ||
| Q1 24 | 7.6% | 53.0% |
现金转化率CFRVNET
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | -1.96× | — | ||
| Q4 24 | 6.39× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 0.89× | — | ||
| Q1 24 | 3.60× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
