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德纳（DAN）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
德纳的季度营收约是明晟的1.6倍（$1.3B vs $822.5M），明晟净利率更高（34.6% vs -3.9%，领先38.5%），明晟同比增速更快（10.6% vs -44.5%），明晟自由现金流更多（$488.7M vs $345.0M），过去两年明晟的营收复合增速更高（10.0% vs -31.2%）
德纳（Dana Inc.）是美国知名汽车零部件供应商，创立于1904年，总部位于俄亥俄州莫米。公司为传统燃油车、混合动力车及电动车提供车桥、传动轴，以及电驱动、热管理、密封、数字设备等产品，服务于轻型车、商用车市场，业务遍及33个国家，员工近2.8万人，2022年销售额达102亿美元，位列财富世界500强。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
DAN vs MSCI — 直观对比
营收规模更大
DAN
是对方的1.6倍
$822.5M
营收增速更快
MSCI
高出55.1%
-44.5%
净利率更高
MSCI
高出38.5%
-3.9%
自由现金流更多
MSCI
多$143.7M
$345.0M
两年增速更快
MSCI
近两年复合增速
-31.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $822.5M |
| 净利润 | $-50.0M | $284.7M |
| 毛利率 | 6.0% | — |
| 营业利润率 | -0.2% | 56.4% |
| 净利率 | -3.9% | 34.6% |
| 营收同比 | -44.5% | 10.6% |
| 净利润同比 | 37.5% | -6.8% |
| 每股收益（稀释后） | $-0.36 | $3.81 |
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DANMSCI
| Q4 25 | $1.3B | $822.5M | ||
| Q3 25 | $1.9B | $793.4M | ||
| Q2 25 | $1.9B | $772.7M | ||
| Q1 25 | $2.4B | $745.8M | ||
| Q4 24 | $2.3B | $743.5M | ||
| Q3 24 | $2.5B | $724.7M | ||
| Q2 24 | $2.7B | $707.9M | ||
| Q1 24 | $2.7B | $680.0M |
净利润DANMSCI
| Q4 25 | $-50.0M | $284.7M | ||
| Q3 25 | $83.0M | $325.4M | ||
| Q2 25 | $27.0M | $303.6M | ||
| Q1 25 | $25.0M | $288.6M | ||
| Q4 24 | $-80.0M | $305.5M | ||
| Q3 24 | $4.0M | $280.9M | ||
| Q2 24 | $16.0M | $266.8M | ||
| Q1 24 | $3.0M | $256.0M |
毛利率DANMSCI
| Q4 25 | 6.0% | — | ||
| Q3 25 | 8.7% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 9.4% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 9.3% | — | ||
| Q1 24 | 8.9% | — |
营业利润率DANMSCI
| Q4 25 | -0.2% | 56.4% | ||
| Q3 25 | 2.8% | 56.4% | ||
| Q2 25 | 0.8% | 55.0% | ||
| Q1 25 | 3.1% | 50.6% | ||
| Q4 24 | -1.5% | 54.5% | ||
| Q3 24 | 3.6% | 55.4% | ||
| Q2 24 | 3.8% | 54.0% | ||
| Q1 24 | 2.6% | 49.9% |
净利率DANMSCI
| Q4 25 | -3.9% | 34.6% | ||
| Q3 25 | 4.3% | 41.0% | ||
| Q2 25 | 1.4% | 39.3% | ||
| Q1 25 | 1.1% | 38.7% | ||
| Q4 24 | -3.4% | 41.1% | ||
| Q3 24 | 0.2% | 38.8% | ||
| Q2 24 | 0.6% | 37.7% | ||
| Q1 24 | 0.1% | 37.6% |
每股收益（稀释后）DANMSCI
| Q4 25 | $-0.36 | $3.81 | ||
| Q3 25 | $0.64 | $4.25 | ||
| Q2 25 | $0.19 | $3.92 | ||
| Q1 25 | $0.17 | $3.71 | ||
| Q4 24 | $-0.55 | $3.89 | ||
| Q3 24 | $0.03 | $3.57 | ||
| Q2 24 | $0.11 | $3.37 | ||
| Q1 24 | $0.02 | $3.22 |
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 | $469.0M | $515.3M |
| 总债务越低越好 | $2.6B | $6.2B |
| 股东权益账面价值 | $840.0M | $-2.7B |
| 总资产 | $7.8B | $5.7B |
| 负债/权益比越低杠杆越低 | 3.05× | — |
8季度趋势，按日历期对齐
现金及短期投资DANMSCI
| Q4 25 | $469.0M | $515.3M | ||
| Q3 25 | $414.0M | $400.1M | ||
| Q2 25 | $486.0M | $347.3M | ||
| Q1 25 | $507.0M | $360.7M | ||
| Q4 24 | $494.0M | $409.4M | ||
| Q3 24 | $419.0M | $501.0M | ||
| Q2 24 | $419.0M | $451.4M | ||
| Q1 24 | $351.0M | $519.3M |
总债务DANMSCI
| Q4 25 | $2.6B | $6.2B | ||
| Q3 25 | $2.6B | $5.5B | ||
| Q2 25 | $2.6B | $4.5B | ||
| Q1 25 | $2.4B | $4.5B | ||
| Q4 24 | $2.4B | $4.5B | ||
| Q3 24 | $2.4B | $4.5B | ||
| Q2 24 | $2.4B | $4.5B | ||
| Q1 24 | $2.6B | $4.5B |
股东权益DANMSCI
| Q4 25 | $840.0M | $-2.7B | ||
| Q3 25 | $1.1B | $-1.9B | ||
| Q2 25 | $1.2B | $-886.2M | ||
| Q1 25 | $1.4B | $-958.6M | ||
| Q4 24 | $1.3B | $-940.0M | ||
| Q3 24 | $1.5B | $-751.0M | ||
| Q2 24 | $1.5B | $-734.5M | ||
| Q1 24 | $1.5B | $-650.5M |
总资产DANMSCI
| Q4 25 | $7.8B | $5.7B | ||
| Q3 25 | $8.1B | $5.4B | ||
| Q2 25 | $8.1B | $5.4B | ||
| Q1 25 | $7.8B | $5.3B | ||
| Q4 24 | $7.5B | $5.4B | ||
| Q3 24 | $7.9B | $5.4B | ||
| Q2 24 | $7.8B | $5.5B | ||
| Q1 24 | $7.9B | $5.5B |
负债/权益比DANMSCI
| Q4 25 | 3.05× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 1.62× | — | ||
| Q1 24 | 1.68× | — |
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 | $406.0M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $345.0M | $488.7M |
| 自由现金流率自由现金流/营收 | 26.6% | 59.4% |
| 资本支出强度资本支出/营收 | 4.7% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | $298.0M | $1.5B |
8季度趋势，按日历期对齐
经营现金流DANMSCI
| Q4 25 | $406.0M | $501.1M | ||
| Q3 25 | $111.0M | $449.4M | ||
| Q2 25 | $32.0M | $336.1M | ||
| Q1 25 | $-37.0M | $301.7M | ||
| Q4 24 | $302.0M | $430.6M | ||
| Q3 24 | $35.0M | $421.6M | ||
| Q2 24 | $215.0M | $349.2M | ||
| Q1 24 | $-102.0M | $300.1M |
自由现金流DANMSCI
| Q4 25 | $345.0M | $488.7M | ||
| Q3 25 | $62.0M | $445.5M | ||
| Q2 25 | $3.0M | $324.7M | ||
| Q1 25 | $-112.0M | $290.2M | ||
| Q4 24 | $149.0M | $416.4M | ||
| Q3 24 | $-11.0M | $415.0M | ||
| Q2 24 | $104.0M | $340.6M | ||
| Q1 24 | $-172.0M | $295.9M |
自由现金流率DANMSCI
| Q4 25 | 26.6% | 59.4% | ||
| Q3 25 | 3.2% | 56.2% | ||
| Q2 25 | 0.2% | 42.0% | ||
| Q1 25 | -4.8% | 38.9% | ||
| Q4 24 | 6.4% | 56.0% | ||
| Q3 24 | -0.4% | 57.3% | ||
| Q2 24 | 3.8% | 48.1% | ||
| Q1 24 | -6.3% | 43.5% |
资本支出强度DANMSCI
| Q4 25 | 4.7% | 1.5% | ||
| Q3 25 | 2.6% | 0.5% | ||
| Q2 25 | 1.5% | 1.5% | ||
| Q1 25 | 3.2% | 1.5% | ||
| Q4 24 | 6.6% | 1.9% | ||
| Q3 24 | 1.9% | 0.9% | ||
| Q2 24 | 4.1% | 1.2% | ||
| Q1 24 | 2.6% | 0.6% |
现金转化率DANMSCI
| Q4 25 | — | 1.76× | ||
| Q3 25 | 1.34× | 1.38× | ||
| Q2 25 | 1.19× | 1.11× | ||
| Q1 25 | -1.48× | 1.05× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | 8.75× | 1.50× | ||
| Q2 24 | 13.44× | 1.31× | ||
| Q1 24 | -34.00× | 1.17× |
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
DAN
| Light Vehicle Segment | $912.0M | 70% |
| Commercial Vehicle Segment | $218.0M | 17% |
| Other | $166.0M | 13% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
