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CSW INDUSTRIALS, INC.（CSW）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
世纪互联的季度营收约是CSW INDUSTRIALS, INC.的1.6倍（$362.7M vs $233.0M），CSW INDUSTRIALS, INC.净利率更高（4.4% vs -10.7%，领先15.1%），CSW INDUSTRIALS, INC.自由现金流更多（$22.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 5.1%）
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。
CSW vs VNET — 直观对比
营收规模更大
VNET
是对方的1.6倍
$233.0M
净利率更高
CSW
高出15.1%
-10.7%
自由现金流更多
CSW
多$215.8M
$-193.1M
两年增速更快
VNET
近两年复合增速
5.1%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $233.0M | $362.7M |
| 净利润 | $10.3M | $-38.7M |
| 毛利率 | 39.7% | 20.9% |
| 营业利润率 | 7.4% | 0.5% |
| 净利率 | 4.4% | -10.7% |
| 营收同比 | 20.3% | — |
| 净利润同比 | -61.9% | — |
| 每股收益（稀释后） | $0.62 | — |
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CSWVNET
| Q4 25 | $233.0M | — | ||
| Q3 25 | $277.0M | $362.7M | ||
| Q2 25 | $263.6M | — | ||
| Q1 25 | $230.5M | $309.5M | ||
| Q4 24 | $193.6M | — | ||
| Q3 24 | $227.9M | $302.2M | ||
| Q2 24 | $226.2M | $274.4M | ||
| Q1 24 | $210.9M | $262.9M |
净利润CSWVNET
| Q4 25 | $10.3M | — | ||
| Q3 25 | $40.7M | $-38.7M | ||
| Q2 25 | $40.9M | — | ||
| Q1 25 | $35.1M | $-2.4M | ||
| Q4 24 | $26.9M | — | ||
| Q3 24 | $36.1M | $-2.1M | ||
| Q2 24 | $38.6M | $-1.1M | ||
| Q1 24 | $31.8M | $-22.0M |
毛利率CSWVNET
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | 20.9% | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | 25.2% | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | 23.2% | ||
| Q2 24 | 47.5% | 21.3% | ||
| Q1 24 | 44.4% | 21.6% |
营业利润率CSWVNET
| Q4 25 | 7.4% | — | ||
| Q3 25 | 20.5% | 0.5% | ||
| Q2 25 | 20.8% | — | ||
| Q1 25 | 19.5% | 0.1% | ||
| Q4 24 | 15.3% | — | ||
| Q3 24 | 22.6% | 24.5% | ||
| Q2 24 | 24.3% | 0.2% | ||
| Q1 24 | 21.0% | 0.2% |
净利率CSWVNET
| Q4 25 | 4.4% | — | ||
| Q3 25 | 14.7% | -10.7% | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 15.2% | -0.8% | ||
| Q4 24 | 13.9% | — | ||
| Q3 24 | 15.8% | -0.7% | ||
| Q2 24 | 17.1% | -0.4% | ||
| Q1 24 | 15.1% | -8.4% |
每股收益（稀释后）CSWVNET
| Q4 25 | $0.62 | — | ||
| Q3 25 | $2.41 | — | ||
| Q2 25 | $2.43 | — | ||
| Q1 25 | $2.05 | — | ||
| Q4 24 | $1.60 | — | ||
| Q3 24 | $2.26 | — | ||
| Q2 24 | $2.47 | — | ||
| Q1 24 | $2.03 | — |
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 | $40.2M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $890.8M |
| 总资产 | $2.3B | $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CSWVNET
| Q4 25 | $40.2M | — | ||
| Q3 25 | $31.5M | $492.1M | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $225.8M | $544.3M | ||
| Q4 24 | $213.8M | — | ||
| Q3 24 | $273.2M | $219.5M | ||
| Q2 24 | $18.9M | $247.2M | ||
| Q1 24 | $22.2M | $246.9M |
总债务CSWVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
股东权益CSWVNET
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $890.8M | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | $927.8M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | $902.9M | ||
| Q2 24 | $650.2M | $900.6M | ||
| Q1 24 | $615.7M | $895.1M |
总资产CSWVNET
| Q4 25 | $2.3B | — | ||
| Q3 25 | $1.5B | $6.1B | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.4B | $5.4B | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | $4.3B | ||
| Q2 24 | $1.1B | $4.0B | ||
| Q1 24 | $1.0B | $3.9B |
负债/权益比CSWVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
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 | $28.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $22.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | 9.8% | -53.2% |
| 资本支出强度资本支出/营收 | 2.6% | 84.6% |
| 现金转化率经营现金流/净利润 | 2.81× | — |
| 过去12个月自由现金流最近4个季度 | $162.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流CSWVNET
| Q4 25 | $28.9M | — | ||
| Q3 25 | $61.8M | $113.8M | ||
| Q2 25 | $60.6M | — | ||
| Q1 25 | $27.3M | $27.0M | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $66.8M | $108.3M | ||
| Q2 24 | $62.7M | $55.8M | ||
| Q1 24 | $22.4M | $37.1M |
自由现金流CSWVNET
| Q4 25 | $22.7M | — | ||
| Q3 25 | $58.7M | $-193.1M | ||
| Q2 25 | $57.7M | — | ||
| Q1 25 | $22.8M | $-220.0M | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $61.3M | $-95.0M | ||
| Q2 24 | $59.6M | $-81.6M | ||
| Q1 24 | $17.5M | $-102.2M |
自由现金流率CSWVNET
| Q4 25 | 9.8% | — | ||
| Q3 25 | 21.2% | -53.2% | ||
| Q2 25 | 21.9% | — | ||
| Q1 25 | 9.9% | -71.1% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 26.9% | -31.4% | ||
| Q2 24 | 26.3% | -29.8% | ||
| Q1 24 | 8.3% | -38.9% |
资本支出强度CSWVNET
| Q4 25 | 2.6% | — | ||
| Q3 25 | 1.1% | 84.6% | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.0% | 79.8% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.4% | 67.3% | ||
| Q2 24 | 1.4% | 50.1% | ||
| Q1 24 | 2.3% | 53.0% |
现金转化率CSWVNET
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 0.71× | — |
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
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
VNET
暂无分部数据
