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Deckers Brands（DECK）与Encompass Health Corp（EHC）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是Encompass Health Corp的1.3倍（$2.0B vs $1.5B），Deckers Brands净利率更高（24.6% vs 9.5%，领先15.1%），Encompass Health Corp同比增速更快（9.9% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $116.7M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 8.3%）
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
Encompass Health Corp前身为Amcare及HealthSouth，总部位于美国阿拉巴马州伯明翰，是美国规模最大的住院康复服务提供商，在39个州及波多黎各拥有173家住院康复医院，为中风、神经系统疾病、心肺病症、脑损伤等患者提供专业康复诊疗服务。
DECK vs EHC — 直观对比
营收规模更大
DECK
是对方的1.3倍
$1.5B
营收增速更快
EHC
高出2.8%
7.1%
净利率更高
DECK
高出15.1%
9.5%
自由现金流更多
DECK
多$903.6M
$116.7M
两年增速更快
DECK
近两年复合增速
8.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.5B |
| 净利润 | $481.1M | $146.1M |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 16.7% |
| 净利率 | 24.6% | 9.5% |
| 营收同比 | 7.1% | 9.9% |
| 净利润同比 | 5.3% | 20.8% |
| 每股收益（稀释后） | $3.33 | $1.43 |
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DECKEHC
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $964.5M | $1.5B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $825.3M | $1.3B | ||
| Q1 24 | $959.8M | $1.3B |
净利润DECKEHC
| Q4 25 | $481.1M | $146.1M | ||
| Q3 25 | $268.2M | $126.5M | ||
| Q2 25 | $139.2M | $142.1M | ||
| Q1 25 | $151.4M | $151.5M | ||
| Q4 24 | $456.7M | $120.9M | ||
| Q3 24 | $242.3M | $108.2M | ||
| Q2 24 | $115.6M | $114.1M | ||
| Q1 24 | $127.5M | $112.5M |
毛利率DECKEHC
| Q4 25 | 59.8% | — | ||
| Q3 25 | 56.2% | — | ||
| Q2 25 | 55.8% | — | ||
| Q1 25 | 56.7% | — | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 55.9% | — | ||
| Q2 24 | 56.9% | — | ||
| Q1 24 | 56.2% | — |
营业利润率DECKEHC
| Q4 25 | 31.4% | 16.7% | ||
| Q3 25 | 22.8% | 14.9% | ||
| Q2 25 | 17.1% | 16.2% | ||
| Q1 25 | 17.0% | 16.4% | ||
| Q4 24 | 31.0% | 14.3% | ||
| Q3 24 | 23.3% | 13.6% | ||
| Q2 24 | 16.1% | 14.3% | ||
| Q1 24 | 15.0% | 13.6% |
净利率DECKEHC
| Q4 25 | 24.6% | 9.5% | ||
| Q3 25 | 18.7% | 8.6% | ||
| Q2 25 | 14.4% | 9.7% | ||
| Q1 25 | 14.8% | 10.4% | ||
| Q4 24 | 25.0% | 8.6% | ||
| Q3 24 | 18.5% | 8.0% | ||
| Q2 24 | 14.0% | 8.8% | ||
| Q1 24 | 13.3% | 8.5% |
每股收益（稀释后）DECKEHC
| Q4 25 | $3.33 | $1.43 | ||
| Q3 25 | $1.82 | $1.24 | ||
| Q2 25 | $0.93 | $1.39 | ||
| Q1 25 | $-2.78 | $1.48 | ||
| Q4 24 | $3.00 | $1.18 | ||
| Q3 24 | $1.59 | $1.06 | ||
| Q2 24 | $4.52 | $1.12 | ||
| Q1 24 | $4.82 | $1.10 |
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 | $2.1B | $72.2M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $2.6B | $2.4B |
| 总资产 | $4.1B | $7.1B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资DECKEHC
| Q4 25 | $2.1B | $72.2M | ||
| Q3 25 | $1.4B | $48.7M | ||
| Q2 25 | $1.7B | $99.1M | ||
| Q1 25 | $1.9B | $95.8M | ||
| Q4 24 | $2.2B | $85.4M | ||
| Q3 24 | $1.2B | $147.8M | ||
| Q2 24 | $1.4B | $154.4M | ||
| Q1 24 | $1.5B | $134.4M |
总债务DECKEHC
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
股东权益DECKEHC
| Q4 25 | $2.6B | $2.4B | ||
| Q3 25 | $2.5B | $2.4B | ||
| Q2 25 | $2.5B | $2.3B | ||
| Q1 25 | $2.5B | $2.2B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.2B | $2.0B | ||
| Q2 24 | $2.1B | $1.8B | ||
| Q1 24 | $2.1B | $1.7B |
总资产DECKEHC
| Q4 25 | $4.1B | $7.1B | ||
| Q3 25 | $3.8B | $6.9B | ||
| Q2 25 | $3.8B | $6.8B | ||
| Q1 25 | $3.6B | $6.6B | ||
| Q4 24 | $4.0B | $6.5B | ||
| Q3 24 | $3.4B | $6.5B | ||
| Q2 24 | $3.3B | $6.4B | ||
| Q1 24 | $3.1B | $6.2B |
负债/权益比DECKEHC
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 1.46× | ||
| Q1 24 | — | 1.54× |
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 | $1.0B | $346.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $116.7M |
| 自由现金流率自由现金流/营收 | 52.1% | 7.6% |
| 资本支出强度资本支出/营收 | 1.1% | 14.8% |
| 现金转化率经营现金流/净利润 | 2.17× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $439.2M |
8季度趋势，按日历期对齐
经营现金流DECKEHC
| Q4 25 | $1.0B | $346.0M | ||
| Q3 25 | $8.1M | $270.8M | ||
| Q2 25 | $36.1M | $270.2M | ||
| Q1 25 | $-73.0M | $288.6M | ||
| Q4 24 | $1.1B | $278.8M | ||
| Q3 24 | $-90.5M | $267.8M | ||
| Q2 24 | $112.7M | $217.4M | ||
| Q1 24 | $-28.7M | $238.8M |
自由现金流DECKEHC
| Q4 25 | $1.0B | $116.7M | ||
| Q3 25 | $-13.9M | $83.7M | ||
| Q2 25 | $12.2M | $113.3M | ||
| Q1 25 | $-89.4M | $125.5M | ||
| Q4 24 | $1.1B | $80.1M | ||
| Q3 24 | $-113.4M | $120.3M | ||
| Q2 24 | $90.1M | $60.5M | ||
| Q1 24 | $-44.0M | $99.4M |
自由现金流率DECKEHC
| Q4 25 | 52.1% | 7.6% | ||
| Q3 25 | -1.0% | 5.7% | ||
| Q2 25 | 1.3% | 7.8% | ||
| Q1 25 | -8.8% | 8.6% | ||
| Q4 24 | 58.6% | 5.7% | ||
| Q3 24 | -8.6% | 8.9% | ||
| Q2 24 | 10.9% | 4.6% | ||
| Q1 24 | -4.6% | 7.6% |
资本支出强度DECKEHC
| Q4 25 | 1.1% | 14.8% | ||
| Q3 25 | 1.5% | 12.7% | ||
| Q2 25 | 2.5% | 10.8% | ||
| Q1 25 | 1.6% | 11.2% | ||
| Q4 24 | 1.3% | 14.1% | ||
| Q3 24 | 1.7% | 10.9% | ||
| Q2 24 | 2.7% | 12.1% | ||
| Q1 24 | 1.6% | 10.6% |
现金转化率DECKEHC
| Q4 25 | 2.17× | 2.37× | ||
| Q3 25 | 0.03× | 2.14× | ||
| Q2 25 | 0.26× | 1.90× | ||
| Q1 25 | -0.48× | 1.90× | ||
| Q4 24 | 2.40× | 2.31× | ||
| Q3 24 | -0.37× | 2.48× | ||
| Q2 24 | 0.97× | 1.91× | ||
| Q1 24 | -0.22× | 2.12× |
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
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
EHC
| Medicare | $1.0B | 66% |
| Medicare Advantage | $243.1M | 16% |
| Managed Care | $160.7M | 10% |
| Medicaid | $47.0M | 3% |
| Other Income Source | $44.8M | 3% |
| Other Thirdparty Payors | $11.2M | 1% |
| Workers Compensation | $7.6M | 0% |
| Patients | $4.6M | 0% |
