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Churchill Downs Inc（CHDN）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
Churchill Downs Inc的季度营收约是世纪互联的1.8倍（$663.0M vs $362.7M），Churchill Downs Inc净利率更高（12.5% vs -10.7%，领先23.2%），过去两年世纪互联的营收复合增速更高（17.4% vs -13.7%）
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
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。
CHDN vs VNET — 直观对比
营收规模更大
CHDN
是对方的1.8倍
$362.7M
净利率更高
CHDN
高出23.2%
-10.7%
两年增速更快
VNET
近两年复合增速
-13.7%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $362.7M |
| 净利润 | $83.0M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 21.6% | 0.5% |
| 净利率 | 12.5% | -10.7% |
| 营收同比 | 3.1% | — |
| 净利润同比 | 7.8% | — |
| 每股收益（稀释后） | $1.16 | — |
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CHDNVNET
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | — | ||
| Q3 25 | $683.0M | $362.7M | ||
| Q2 25 | $934.4M | — | ||
| Q1 25 | $642.6M | $309.5M | ||
| Q4 24 | $624.2M | — | ||
| Q3 24 | $628.5M | $302.2M | ||
| Q2 24 | $890.7M | $274.4M |
净利润CHDNVNET
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | — | ||
| Q3 25 | $38.1M | $-38.7M | ||
| Q2 25 | $216.9M | — | ||
| Q1 25 | $76.7M | $-2.4M | ||
| Q4 24 | $71.7M | — | ||
| Q3 24 | $65.4M | $-2.1M | ||
| Q2 24 | $209.3M | $-1.1M |
毛利率CHDNVNET
| 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CHDNVNET
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | — | ||
| Q3 25 | 14.3% | 0.5% | ||
| Q2 25 | 35.1% | — | ||
| Q1 25 | 20.9% | 0.1% | ||
| Q4 24 | 20.3% | — | ||
| Q3 24 | 20.0% | 24.5% | ||
| Q2 24 | 37.0% | 0.2% |
净利率CHDNVNET
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | — | ||
| Q3 25 | 5.6% | -10.7% | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | 11.9% | -0.8% | ||
| Q4 24 | 11.5% | — | ||
| Q3 24 | 10.4% | -0.7% | ||
| Q2 24 | 23.5% | -0.4% |
每股收益（稀释后）CHDNVNET
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $200.0M | $492.1M |
| 总债务越低越好 | $840.0M | — |
| 股东权益账面价值 | — | $890.8M |
| 总资产 | $7.5B | $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CHDNVNET
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | — | ||
| Q3 25 | $180.5M | $492.1M | ||
| Q2 25 | $182.4M | — | ||
| Q1 25 | $174.2M | $544.3M | ||
| Q4 24 | $175.5M | — | ||
| Q3 24 | $152.7M | $219.5M | ||
| Q2 24 | $140.3M | $247.2M |
总债务CHDNVNET
| Q1 26 | $840.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益CHDNVNET
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $890.8M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.1B | $927.8M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $902.9M | ||
| Q2 24 | $1.0B | $900.6M |
总资产CHDNVNET
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | — | ||
| Q3 25 | $7.5B | $6.1B | ||
| Q2 25 | $7.4B | — | ||
| Q1 25 | $7.3B | $5.4B | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | $7.2B | $4.3B | ||
| Q2 24 | $7.2B | $4.0B |
负债/权益比CHDNVNET
| 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 | $295.0M | $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 | 3.55× | — |
| 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CHDNVNET
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $187.7M | $113.8M | ||
| Q2 25 | — | — | ||
| Q1 25 | $246.5M | $27.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $169.4M | $108.3M | ||
| Q2 24 | — | $55.8M |
自由现金流CHDNVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $166.3M | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | $233.9M | $-220.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $154.4M | $-95.0M | ||
| Q2 24 | — | $-81.6M |
自由现金流率CHDNVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 24.3% | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | 36.4% | -71.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.6% | -31.4% | ||
| Q2 24 | — | -29.8% |
资本支出强度CHDNVNET
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 3.1% | 84.6% | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.0% | 79.8% | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 2.4% | 67.3% | ||
| Q2 24 | 2.5% | 50.1% |
现金转化率CHDNVNET
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.93× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.59× | — | ||
| Q2 24 | — | — |
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
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
VNET
暂无分部数据
