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COUSINS PROPERTIES INC（CUZ）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COUSINS PROPERTIES INC的1.4倍（$362.7M vs $255.0M），COUSINS PROPERTIES INC净利率更高（-1.4% vs -10.7%，领先9.3%），COUSINS PROPERTIES INC自由现金流更多（$135.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 10.4%）
Cousins Properties是一家公开上市的房地产投资信托（REIT），专注于亚特兰大、夏洛特、奥斯汀、菲尼克斯、坦帕及北卡罗来纳州教堂山的写字楼资产投资。公司曾开发多个知名地标项目，包括亚特兰大的CNN中心、奥姆尼体育馆、桃树中心191号大厦以及埃默里角商业综合体。
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。
CUZ vs VNET — 直观对比
营收规模更大
VNET
是对方的1.4倍
$255.0M
净利率更高
CUZ
高出9.3%
-10.7%
自由现金流更多
CUZ
多$328.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
10.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $255.0M | $362.7M |
| 净利润 | $-3.5M | $-38.7M |
| 毛利率 | 67.4% | 20.9% |
| 营业利润率 | 67.5% | 0.5% |
| 净利率 | -1.4% | -10.7% |
| 营收同比 | 13.2% | — |
| 净利润同比 | -125.4% | — |
| 每股收益（稀释后） | $-0.02 | — |
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CUZVNET
| Q4 25 | $255.0M | — | ||
| Q3 25 | $248.3M | $362.7M | ||
| Q2 25 | $240.1M | — | ||
| Q1 25 | $250.3M | $309.5M | ||
| Q4 24 | $225.3M | — | ||
| Q3 24 | $209.2M | $302.2M | ||
| Q2 24 | $213.0M | $274.4M | ||
| Q1 24 | $209.2M | $262.9M |
净利润CUZVNET
| Q4 25 | $-3.5M | — | ||
| Q3 25 | $8.6M | $-38.7M | ||
| Q2 25 | $14.5M | — | ||
| Q1 25 | $20.9M | $-2.4M | ||
| Q4 24 | $13.6M | — | ||
| Q3 24 | $11.2M | $-2.1M | ||
| Q2 24 | $7.8M | $-1.1M | ||
| Q1 24 | $13.3M | $-22.0M |
毛利率CUZVNET
| Q4 25 | 67.4% | — | ||
| Q3 25 | 67.8% | 20.9% | ||
| Q2 25 | 69.1% | — | ||
| Q1 25 | 69.2% | 25.2% | ||
| Q4 24 | 67.6% | — | ||
| Q3 24 | 68.5% | 23.2% | ||
| Q2 24 | 66.8% | 21.3% | ||
| Q1 24 | 66.0% | 21.6% |
营业利润率CUZVNET
| Q4 25 | 67.5% | — | ||
| Q3 25 | 68.1% | 0.5% | ||
| Q2 25 | 69.4% | — | ||
| Q1 25 | 66.0% | 0.1% | ||
| Q4 24 | 65.8% | — | ||
| Q3 24 | 67.9% | 24.5% | ||
| Q2 24 | 66.4% | 0.2% | ||
| Q1 24 | 66.3% | 0.2% |
净利率CUZVNET
| Q4 25 | -1.4% | — | ||
| Q3 25 | 3.5% | -10.7% | ||
| Q2 25 | 6.0% | — | ||
| Q1 25 | 8.3% | -0.8% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 5.4% | -0.7% | ||
| Q2 24 | 3.7% | -0.4% | ||
| Q1 24 | 6.4% | -8.4% |
每股收益（稀释后）CUZVNET
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $0.05 | — | ||
| Q2 25 | $0.09 | — | ||
| Q1 25 | $0.12 | — | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.07 | — | ||
| Q2 24 | $0.05 | — | ||
| Q1 24 | $0.09 | — |
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 | $5.7M | $492.1M |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $4.7B | $890.8M |
| 总资产 | $8.9B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.71× | — |
8季度趋势，按日历期对齐
现金及短期投资CUZVNET
| Q4 25 | $5.7M | — | ||
| Q3 25 | $4.7M | $492.1M | ||
| Q2 25 | $416.8M | — | ||
| Q1 25 | $5.3M | $544.3M | ||
| Q4 24 | $7.3M | — | ||
| Q3 24 | $76.1M | $219.5M | ||
| Q2 24 | $6.0M | $247.2M | ||
| Q1 24 | $5.5M | $246.9M |
总债务CUZVNET
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.5B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.6B | — | ||
| Q1 24 | $2.6B | — |
股东权益CUZVNET
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.7B | $890.8M | ||
| Q2 25 | $4.8B | — | ||
| Q1 25 | $4.8B | $927.8M | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $4.4B | $902.9M | ||
| Q2 24 | $4.5B | $900.6M | ||
| Q1 24 | $4.5B | $895.1M |
总资产CUZVNET
| Q4 25 | $8.9B | — | ||
| Q3 25 | $8.9B | $6.1B | ||
| Q2 25 | $9.1B | — | ||
| Q1 25 | $8.7B | $5.4B | ||
| Q4 24 | $8.8B | — | ||
| Q3 24 | $7.8B | $4.3B | ||
| Q2 24 | $7.7B | $4.0B | ||
| Q1 24 | $7.7B | $3.9B |
负债/权益比CUZVNET
| Q4 25 | 0.71× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.60× | 1.28× | ||
| Q2 24 | 0.58× | — | ||
| Q1 24 | 0.57× | — |
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 | $402.3M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $135.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 53.0% | -53.2% |
| 资本支出强度资本支出/营收 | 104.8% | 84.6% |
| 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 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流CUZVNET
| Q4 25 | $402.3M | — | ||
| Q3 25 | $120.5M | $113.8M | ||
| Q2 25 | $122.6M | — | ||
| Q1 25 | $44.8M | $27.0M | ||
| Q4 24 | $400.2M | — | ||
| Q3 24 | $117.4M | $108.3M | ||
| Q2 24 | $125.5M | $55.8M | ||
| Q1 24 | $28.3M | $37.1M |
自由现金流CUZVNET
| Q4 25 | $135.0M | — | ||
| Q3 25 | — | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-220.0M | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | $-95.0M | ||
| Q2 24 | — | $-81.6M | ||
| Q1 24 | — | $-102.2M |
自由现金流率CUZVNET
| Q4 25 | 53.0% | — | ||
| Q3 25 | — | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -71.1% | ||
| Q4 24 | 65.5% | — | ||
| Q3 24 | — | -31.4% | ||
| Q2 24 | — | -29.8% | ||
| Q1 24 | — | -38.9% |
资本支出强度CUZVNET
| Q4 25 | 104.8% | — | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 79.8% | ||
| Q4 24 | 112.2% | — | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | — | 53.0% |
现金转化率CUZVNET
| Q4 25 | — | — | ||
| Q3 25 | 14.03× | — | ||
| Q2 25 | 8.46× | — | ||
| Q1 25 | 2.14× | — | ||
| Q4 24 | 29.35× | — | ||
| Q3 24 | 10.48× | — | ||
| Q2 24 | 16.01× | — | ||
| Q1 24 | 2.13× | — |
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
CUZ
| Rental Properties | $253.3M | 99% |
| Fee And Other Revenue | $1.7M | 1% |
| Other | $1.2M | 0% |
VNET
暂无分部数据
