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DUCOMMUN INC（DCO）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DUCOMMUN INC的1.7倍（$362.7M vs $215.8M），DUCOMMUN INC净利率更高（3.4% vs -10.7%，领先14.1%），DUCOMMUN INC自由现金流更多（$-78.8M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 6.3%）
杜科蒙是一家全球性航空航天与国防制造企业，主要供应复杂结构部件、电子系统，提供专业工程服务，覆盖商用航空、军事国防、航天领域客户，交付适用于关键航空航天场景的高可靠性解决方案。
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。
DCO vs VNET — 直观对比
营收规模更大
VNET
是对方的1.7倍
$215.8M
净利率更高
DCO
高出14.1%
-10.7%
自由现金流更多
DCO
多$114.3M
$-193.1M
两年增速更快
VNET
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $215.8M | $362.7M |
| 净利润 | $7.4M | $-38.7M |
| 毛利率 | 27.7% | 20.9% |
| 营业利润率 | 6.5% | 0.5% |
| 净利率 | 3.4% | -10.7% |
| 营收同比 | 9.4% | — |
| 净利润同比 | 9.9% | — |
| 每股收益（稀释后） | $0.52 | — |
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DCOVNET
| Q4 25 | $215.8M | — | ||
| Q3 25 | $212.6M | $362.7M | ||
| Q2 25 | $202.3M | — | ||
| Q1 25 | $194.1M | $309.5M | ||
| Q4 24 | $197.3M | — | ||
| Q3 24 | $201.4M | $302.2M | ||
| Q2 24 | $197.0M | $274.4M | ||
| Q1 24 | $190.8M | $262.9M |
净利润DCOVNET
| Q4 25 | $7.4M | — | ||
| Q3 25 | $-64.4M | $-38.7M | ||
| Q2 25 | $12.6M | — | ||
| Q1 25 | $10.5M | $-2.4M | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $10.1M | $-2.1M | ||
| Q2 24 | $7.7M | $-1.1M | ||
| Q1 24 | $6.8M | $-22.0M |
毛利率DCOVNET
| Q4 25 | 27.7% | — | ||
| Q3 25 | 26.6% | 20.9% | ||
| Q2 25 | 26.6% | — | ||
| Q1 25 | 26.6% | 25.2% | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 26.2% | 23.2% | ||
| Q2 24 | 26.0% | 21.3% | ||
| Q1 24 | 24.6% | 21.6% |
营业利润率DCOVNET
| Q4 25 | 6.5% | — | ||
| Q3 25 | -37.7% | 0.5% | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | 8.5% | 0.1% | ||
| Q4 24 | 5.3% | — | ||
| Q3 24 | 7.6% | 24.5% | ||
| Q2 24 | 7.1% | 0.2% | ||
| Q1 24 | 6.6% | 0.2% |
净利率DCOVNET
| Q4 25 | 3.4% | — | ||
| Q3 25 | -30.3% | -10.7% | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 5.4% | -0.8% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 5.0% | -0.7% | ||
| Q2 24 | 3.9% | -0.4% | ||
| Q1 24 | 3.6% | -8.4% |
每股收益（稀释后）DCOVNET
| Q4 25 | $0.52 | — | ||
| Q3 25 | $-4.30 | — | ||
| Q2 25 | $0.82 | — | ||
| Q1 25 | $0.69 | — | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.67 | — | ||
| Q2 24 | $0.52 | — | ||
| Q1 24 | $0.46 | — |
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 | $45.3M | $492.1M |
| 总债务越低越好 | $298.8M | — |
| 股东权益账面价值 | $662.1M | $890.8M |
| 总资产 | $1.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资DCOVNET
| Q4 25 | $45.3M | — | ||
| Q3 25 | $50.9M | $492.1M | ||
| Q2 25 | $37.1M | — | ||
| Q1 25 | $30.7M | $544.3M | ||
| Q4 24 | $37.1M | — | ||
| Q3 24 | $37.3M | $219.5M | ||
| Q2 24 | $29.4M | $247.2M | ||
| Q1 24 | $32.1M | $246.9M |
总债务DCOVNET
| Q4 25 | $298.8M | — | ||
| Q3 25 | $215.0M | — | ||
| Q2 25 | $218.1M | — | ||
| Q1 25 | $229.9M | — | ||
| Q4 24 | $229.8M | — | ||
| Q3 24 | $246.0M | $1.2B | ||
| Q2 24 | $250.9M | — | ||
| Q1 24 | $253.9M | — |
股东权益DCOVNET
| Q4 25 | $662.1M | — | ||
| Q3 25 | $649.0M | $890.8M | ||
| Q2 25 | $707.8M | — | ||
| Q1 25 | $693.0M | $927.8M | ||
| Q4 24 | $682.5M | — | ||
| Q3 24 | $665.6M | $902.9M | ||
| Q2 24 | $655.9M | $900.6M | ||
| Q1 24 | $645.5M | $895.1M |
总资产DCOVNET
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $6.1B | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | $5.4B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $4.3B | ||
| Q2 24 | $1.1B | $4.0B | ||
| Q1 24 | $1.1B | $3.9B |
负债/权益比DCOVNET
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.33× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.37× | 1.28× | ||
| Q2 24 | 0.38× | — | ||
| Q1 24 | 0.39× | — |
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 | $-74.7M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-78.8M | $-193.1M |
| 自由现金流率自由现金流/营收 | -36.5% | -53.2% |
| 资本支出强度资本支出/营收 | 1.9% | 84.6% |
| 现金转化率经营现金流/净利润 | -10.03× | — |
| 过去12个月自由现金流最近4个季度 | $-48.6M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流DCOVNET
| Q4 25 | $-74.7M | — | ||
| Q3 25 | $18.1M | $113.8M | ||
| Q2 25 | $22.4M | — | ||
| Q1 25 | $771.0K | $27.0M | ||
| Q4 24 | $18.4M | — | ||
| Q3 24 | $13.9M | $108.3M | ||
| Q2 24 | $3.5M | $55.8M | ||
| Q1 24 | $-1.6M | $37.1M |
自由现金流DCOVNET
| Q4 25 | $-78.8M | — | ||
| Q3 25 | $16.0M | $-193.1M | ||
| Q2 25 | $18.1M | — | ||
| Q1 25 | $-4.0M | $-220.0M | ||
| Q4 24 | $14.6M | — | ||
| Q3 24 | $12.0M | $-95.0M | ||
| Q2 24 | $144.0K | $-81.6M | ||
| Q1 24 | $-6.6M | $-102.2M |
自由现金流率DCOVNET
| Q4 25 | -36.5% | — | ||
| Q3 25 | 7.5% | -53.2% | ||
| Q2 25 | 9.0% | — | ||
| Q1 25 | -2.1% | -71.1% | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 5.9% | -31.4% | ||
| Q2 24 | 0.1% | -29.8% | ||
| Q1 24 | -3.5% | -38.9% |
资本支出强度DCOVNET
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.0% | 84.6% | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.5% | 79.8% | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 1.0% | 67.3% | ||
| Q2 24 | 1.7% | 50.1% | ||
| Q1 24 | 2.6% | 53.0% |
现金转化率DCOVNET
| Q4 25 | -10.03× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.79× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 2.72× | — | ||
| Q3 24 | 1.37× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | -0.24× | — |
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
DCO
| Other | $90.1M | 42% |
| Militaryand Space | $60.0M | 28% |
| Electronic Systems Segment | $31.3M | 15% |
| Commercial Aerospace | $24.8M | 11% |
| Estimate At Completion Adjustment | $6.6M | 3% |
| Industrial | $3.0M | 1% |
VNET
暂无分部数据
