vs
CoreWeave, Inc.（CRWV）与Ventas（VTR）财务数据对比。点击上方公司名可切换其他公司
Ventas的季度营收约是CoreWeave, Inc.的1.1倍（$1.7B vs $1.6B），Ventas净利率更高（3.6% vs -28.7%，领先32.3%）
CoreWeave是总部位于美国新泽西州利文斯顿的人工智能云计算企业，专注为AI开发者及各行业企业客户提供云侧图形处理器（GPU）算力基础设施，同时自主研发芯片管理相关软件。
Ventas是一家领先的医疗地产投资信托企业，旗下资产涵盖养老社区、医疗办公楼、生命科学研究设施及康复医疗中心等，主要在北美、英国地区运营，为医疗服务及生命科学机构提供专业物业解决方案。
CRWV vs VTR — 直观对比
营收规模更大
VTR
是对方的1.1倍
$1.6B
净利率更高
VTR
高出32.3%
-28.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.7B |
| 净利润 | $-451.7M | $59.0M |
| 毛利率 | 67.6% | — |
| 营业利润率 | -5.7% | — |
| 净利率 | -28.7% | 3.6% |
| 营收同比 | — | 22.0% |
| 净利润同比 | — | 19.0% |
| 每股收益（稀释后） | $-0.50 | — |
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CRWVVTR
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.6B | $1.6B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $981.6M | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $583.9M | $1.2B | ||
| Q2 24 | $395.4M | $1.2B |
净利润CRWVVTR
| Q1 26 | — | $59.0M | ||
| Q4 25 | $-451.7M | $73.0M | ||
| Q3 25 | $-110.1M | $68.7M | ||
| Q2 25 | $-290.5M | $71.5M | ||
| Q1 25 | $-314.6M | $48.4M | ||
| Q4 24 | — | $58.7M | ||
| Q3 24 | $-359.8M | $21.0M | ||
| Q2 24 | $-323.0M | $21.2M |
毛利率CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | 67.6% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.5% | — | ||
| Q2 24 | 72.5% | — |
营业利润率CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | -5.7% | 4.9% | ||
| Q3 25 | 3.8% | 3.0% | ||
| Q2 25 | 1.6% | 3.0% | ||
| Q1 25 | -2.8% | 3.0% | ||
| Q4 24 | — | -0.0% | ||
| Q3 24 | 20.1% | 1.5% | ||
| Q2 24 | 19.7% | -1.6% |
净利率CRWVVTR
| Q1 26 | — | 3.6% | ||
| Q4 25 | -28.7% | 4.7% | ||
| Q3 25 | -8.1% | 4.6% | ||
| Q2 25 | -24.0% | 5.0% | ||
| Q1 25 | -32.1% | 3.6% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | -61.6% | 1.7% | ||
| Q2 24 | -81.7% | 1.8% |
每股收益（稀释后）CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | $-0.50 | $0.15 | ||
| Q3 25 | $-0.22 | $0.14 | ||
| Q2 25 | $-0.60 | $0.15 | ||
| Q1 25 | $-1.49 | $0.10 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | $-1.82 | $0.05 | ||
| Q2 24 | $-1.62 | $0.05 |
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 | $3.2B | $183.6M |
| 总债务越低越好 | $21.4B | — |
| 股东权益账面价值 | $3.3B | $13.2B |
| 总资产 | $49.3B | $27.7B |
| 负债/权益比越低杠杆越低 | 6.41× | — |
8季度趋势，按日历期对齐
现金及短期投资CRWVVTR
| Q1 26 | — | $183.6M | ||
| Q4 25 | $3.2B | $741.1M | ||
| Q3 25 | $1.9B | $188.6M | ||
| Q2 25 | $1.2B | $614.2M | ||
| Q1 25 | $1.3B | $182.3M | ||
| Q4 24 | — | $897.9M | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.0B | $557.1M |
总债务CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | $21.4B | $13.0B | ||
| Q3 25 | $14.0B | — | ||
| Q2 25 | $11.1B | — | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | — | $13.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CRWVVTR
| Q1 26 | — | $13.2B | ||
| Q4 25 | $3.3B | $12.5B | ||
| Q3 25 | $3.9B | $12.4B | ||
| Q2 25 | $2.7B | $11.5B | ||
| Q1 25 | $1.9B | $11.5B | ||
| Q4 24 | — | $10.8B | ||
| Q3 24 | $-344.0M | $9.8B | ||
| Q2 24 | $-1.0B | $9.6B |
总资产CRWVVTR
| Q1 26 | — | $27.7B | ||
| Q4 25 | $49.3B | $27.6B | ||
| Q3 25 | $32.9B | $26.9B | ||
| Q2 25 | $26.2B | $26.5B | ||
| Q1 25 | $21.9B | $26.0B | ||
| Q4 24 | — | $26.2B | ||
| Q3 24 | — | $25.3B | ||
| Q2 24 | — | $24.5B |
负债/权益比CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | 6.41× | 1.04× | ||
| Q3 25 | 3.62× | — | ||
| Q2 25 | 4.16× | — | ||
| Q1 25 | 4.57× | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| 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 | $1.6B | — |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | — |
| 自由现金流率自由现金流/营收 | -159.1% | — |
| 资本支出强度资本支出/营收 | 258.3% | — |
| 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 | $-7.3B | — |
8季度趋势，按日历期对齐
经营现金流CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $471.7M | ||
| Q3 25 | $1.7B | $378.6M | ||
| Q2 25 | $-251.3M | $475.3M | ||
| Q1 25 | $61.2M | $321.1M | ||
| Q4 24 | — | $373.6M | ||
| Q3 24 | — | $353.7M | ||
| Q2 24 | — | $335.9M |
自由现金流CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | $-2.5B | — | ||
| Q3 25 | $-699.8M | — | ||
| Q2 25 | $-2.7B | — | ||
| Q1 25 | $-1.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | -159.1% | — | ||
| Q3 25 | -51.3% | — | ||
| Q2 25 | -223.0% | — | ||
| Q1 25 | -137.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | 258.3% | — | ||
| Q3 25 | 175.1% | — | ||
| Q2 25 | 202.3% | — | ||
| Q1 25 | 143.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率CRWVVTR
| Q1 26 | — | — | ||
| Q4 25 | — | 6.46× | ||
| Q3 25 | — | 5.51× | ||
| Q2 25 | — | 6.65× | ||
| Q1 25 | — | 6.64× | ||
| Q4 24 | — | 6.36× | ||
| Q3 24 | — | 16.84× | ||
| Q2 24 | — | 15.87× |
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
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
VTR
| Resident fees and services | $1.3B | 78% |
| Outpatient medical and research portfolio | $230.1M | 14% |
| Triple-net leased properties | $123.1M | 7% |
| Third-party capital management revenues | $4.4M | 0% |
