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卡骆驰（CROX）与NetApp（NTAP）财务数据对比。点击上方公司名可切换其他公司
NetApp的季度营收约是卡骆驰的1.8倍（$1.7B vs $957.6M），NetApp净利率更高（17.9% vs 11.0%，领先6.9%），NetApp同比增速更快（2.8% vs -3.2%），卡骆驰自由现金流更多（$246.4M vs $78.0M），过去两年NetApp的营收复合增速更高（3.0% vs 1.0%）
卡骆驰（Crocs）是总部位于美国科罗拉多州布鲁姆菲尔德的鞋履企业，主打生产、销售旗下同名品牌的泡沫鞋履产品。其标志性鞋款虽被品牌称为“木屐”，但和传统木屐不同，不含木质材料，凭借舒适轻便的特性受到全球消费者喜爱。
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
CROX vs NTAP — 直观对比
营收规模更大
NTAP
是对方的1.8倍
$957.6M
营收增速更快
NTAP
高出6.1%
-3.2%
净利率更高
NTAP
高出6.9%
11.0%
自由现金流更多
CROX
多$168.4M
$78.0M
两年增速更快
NTAP
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $957.6M | $1.7B |
| 净利润 | $105.2M | $305.0M |
| 毛利率 | 54.7% | 72.0% |
| 营业利润率 | 15.3% | 23.4% |
| 净利率 | 11.0% | 17.9% |
| 营收同比 | -3.2% | 2.8% |
| 净利润同比 | -71.5% | 2.0% |
| 每股收益（稀释后） | $1.79 | $1.51 |
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CROXNTAP
| Q4 25 | $957.6M | $1.7B | ||
| Q3 25 | $996.3M | $1.6B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $937.3M | $1.6B | ||
| Q4 24 | $989.8M | $1.7B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $938.6M | $1.6B |
净利润CROXNTAP
| Q4 25 | $105.2M | $305.0M | ||
| Q3 25 | $145.8M | $233.0M | ||
| Q2 25 | $-492.3M | $340.0M | ||
| Q1 25 | $160.1M | $299.0M | ||
| Q4 24 | $368.9M | $299.0M | ||
| Q3 24 | $199.8M | $248.0M | ||
| Q2 24 | $228.9M | $291.0M | ||
| Q1 24 | $152.5M | $313.0M |
毛利率CROXNTAP
| Q4 25 | 54.7% | 72.0% | ||
| Q3 25 | 58.5% | 70.4% | ||
| Q2 25 | 61.7% | 68.9% | ||
| Q1 25 | 57.8% | 69.8% | ||
| Q4 24 | 57.9% | 71.0% | ||
| Q3 24 | 59.6% | 71.3% | ||
| Q2 24 | 61.4% | 70.5% | ||
| Q1 24 | 55.6% | 71.7% |
营业利润率CROXNTAP
| Q4 25 | 15.3% | 23.4% | ||
| Q3 25 | 20.8% | 19.8% | ||
| Q2 25 | -37.2% | 20.1% | ||
| Q1 25 | 23.8% | 22.1% | ||
| Q4 24 | 20.2% | 20.8% | ||
| Q3 24 | 25.4% | 18.3% | ||
| Q2 24 | 29.3% | 21.9% | ||
| Q1 24 | 24.1% | 22.8% |
净利率CROXNTAP
| Q4 25 | 11.0% | 17.9% | ||
| Q3 25 | 14.6% | 14.9% | ||
| Q2 25 | -42.8% | 19.6% | ||
| Q1 25 | 17.1% | 18.2% | ||
| Q4 24 | 37.3% | 18.0% | ||
| Q3 24 | 18.8% | 16.1% | ||
| Q2 24 | 20.6% | 17.4% | ||
| Q1 24 | 16.2% | 19.5% |
每股收益（稀释后）CROXNTAP
| Q4 25 | $1.79 | $1.51 | ||
| Q3 25 | $2.70 | $1.15 | ||
| Q2 25 | $-8.82 | $1.64 | ||
| Q1 25 | $2.83 | $1.44 | ||
| Q4 24 | $6.25 | $1.42 | ||
| Q3 24 | $3.36 | $1.17 | ||
| Q2 24 | $3.77 | $1.36 | ||
| Q1 24 | $2.50 | $1.48 |
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 | $130.4M | $3.0B |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $1.3B | $986.0M |
| 总资产 | $4.2B | $9.6B |
| 负债/权益比越低杠杆越低 | — | 2.52× |
8季度趋势，按日历期对齐
现金及短期投资CROXNTAP
| Q4 25 | $130.4M | $3.0B | ||
| Q3 25 | $154.0M | $3.3B | ||
| Q2 25 | $200.6M | $3.8B | ||
| Q1 25 | $166.5M | $2.3B | ||
| Q4 24 | $180.5M | $2.2B | ||
| Q3 24 | $186.1M | $3.0B | ||
| Q2 24 | $167.7M | $3.3B | ||
| Q1 24 | $159.3M | $2.9B |
总债务CROXNTAP
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
股东权益CROXNTAP
| Q4 25 | $1.3B | $986.0M | ||
| Q3 25 | $1.4B | $975.0M | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $2.0B | $995.0M | ||
| Q4 24 | $1.8B | $892.0M | ||
| Q3 24 | $1.7B | $929.0M | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.6B | $994.0M |
总资产CROXNTAP
| Q4 25 | $4.2B | $9.6B | ||
| Q3 25 | $4.3B | $9.7B | ||
| Q2 25 | $4.5B | $10.8B | ||
| Q1 25 | $5.1B | $9.0B | ||
| Q4 24 | $4.8B | $9.0B | ||
| Q3 24 | $4.7B | $9.3B | ||
| Q2 24 | $4.7B | $9.9B | ||
| Q1 24 | $4.8B | $9.4B |
负债/权益比CROXNTAP
| Q4 25 | — | 2.52× | ||
| Q3 25 | — | 2.55× | ||
| Q2 25 | — | 3.11× | ||
| Q1 25 | — | 2.00× | ||
| Q4 24 | — | 2.23× | ||
| Q3 24 | — | 2.58× | ||
| Q2 24 | — | 2.09× | ||
| Q1 24 | — | 2.41× |
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 | $252.5M | $127.0M |
| 自由现金流经营现金流 - 资本支出 | $246.4M | $78.0M |
| 自由现金流率自由现金流/营收 | 25.7% | 4.6% |
| 资本支出强度资本支出/营收 | 0.6% | 2.9% |
| 现金转化率经营现金流/净利润 | 2.40× | 0.42× |
| 过去12个月自由现金流最近4个季度 | $659.2M | — |
8季度趋势，按日历期对齐
经营现金流CROXNTAP
| Q4 25 | $252.5M | $127.0M | ||
| Q3 25 | $239.3M | $673.0M | ||
| Q2 25 | $285.8M | — | ||
| Q1 25 | $-67.2M | $385.0M | ||
| Q4 24 | $321.9M | — | ||
| Q3 24 | $296.9M | $341.0M | ||
| Q2 24 | $401.2M | $613.0M | ||
| Q1 24 | $-27.6M | $484.0M |
自由现金流CROXNTAP
| Q4 25 | $246.4M | $78.0M | ||
| Q3 25 | $226.2M | $620.0M | ||
| Q2 25 | $269.2M | — | ||
| Q1 25 | $-82.6M | $338.0M | ||
| Q4 24 | $303.4M | — | ||
| Q3 24 | $278.8M | $300.0M | ||
| Q2 24 | $384.2M | $567.0M | ||
| Q1 24 | $-43.3M | $448.0M |
自由现金流率CROXNTAP
| Q4 25 | 25.7% | 4.6% | ||
| Q3 25 | 22.7% | 39.8% | ||
| Q2 25 | 23.4% | — | ||
| Q1 25 | -8.8% | 20.6% | ||
| Q4 24 | 30.7% | — | ||
| Q3 24 | 26.3% | 19.5% | ||
| Q2 24 | 34.6% | 34.0% | ||
| Q1 24 | -4.6% | 27.9% |
资本支出强度CROXNTAP
| Q4 25 | 0.6% | 2.9% | ||
| Q3 25 | 1.3% | 3.4% | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 1.6% | 2.9% | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 1.7% | 2.7% | ||
| Q2 24 | 1.5% | 2.8% | ||
| Q1 24 | 1.7% | 2.2% |
现金转化率CROXNTAP
| Q4 25 | 2.40× | 0.42× | ||
| Q3 25 | 1.64× | 2.89× | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.42× | 1.29× | ||
| Q4 24 | 0.87× | — | ||
| Q3 24 | 1.49× | 1.38× | ||
| Q2 24 | 1.75× | 2.11× | ||
| Q1 24 | -0.18× | 1.55× |
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
CROX
| Sales Channel Directly To Consumer | $333.2M | 35% |
| Other | $332.1M | 35% |
| HEYDUDE Brand Segment | $189.3M | 20% |
| Sales Channel Through Intermediary Wholesale | $103.1M | 11% |
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
