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Deckers Brands（DECK）与礼蓝动物保健（ELAN）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是礼蓝动物保健的1.7倍（$2.0B vs $1.1B），Deckers Brands净利率更高（24.6% vs -24.1%，领先48.7%），礼蓝动物保健同比增速更快（12.2% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $46.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs -2.6%）
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。
礼蓝动物保健是一家美国动物保健制药企业，专注于生产宠物及家畜用药品与疫苗。该公司原为礼来公司旗下子公司，2019年完成分拆独立，目前是全球第三大动物保健企业。
DECK vs ELAN — 直观对比
营收规模更大
DECK
是对方的1.7倍
$1.1B
营收增速更快
ELAN
高出5.0%
7.1%
净利率更高
DECK
高出48.7%
-24.1%
自由现金流更多
DECK
多$974.3M
$46.0M
两年增速更快
DECK
近两年复合增速
-2.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.1B |
| 净利润 | $481.1M | $-276.0M |
| 毛利率 | 59.8% | 51.5% |
| 营业利润率 | 31.4% | -22.6% |
| 净利率 | 24.6% | -24.1% |
| 营收同比 | 7.1% | 12.2% |
| 净利润同比 | 5.3% | -3350.0% |
| 每股收益（稀释后） | $3.33 | $-0.55 |
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DECKELAN
| Q4 25 | $2.0B | $1.1B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $964.5M | $1.2B | ||
| Q1 25 | $1.0B | $1.2B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $825.3M | $1.2B | ||
| Q1 24 | $959.8M | $1.2B |
净利润DECKELAN
| Q4 25 | $481.1M | $-276.0M | ||
| Q3 25 | $268.2M | $-34.0M | ||
| Q2 25 | $139.2M | $11.0M | ||
| Q1 25 | $151.4M | $67.0M | ||
| Q4 24 | $456.7M | $-8.0M | ||
| Q3 24 | $242.3M | $364.0M | ||
| Q2 24 | $115.6M | $-50.0M | ||
| Q1 24 | $127.5M | $32.0M |
毛利率DECKELAN
| Q4 25 | 59.8% | 51.5% | ||
| Q3 25 | 56.2% | 53.4% | ||
| Q2 25 | 55.8% | 57.5% | ||
| Q1 25 | 56.7% | 57.3% | ||
| Q4 24 | 60.3% | 50.9% | ||
| Q3 24 | 55.9% | 52.2% | ||
| Q2 24 | 56.9% | 58.2% | ||
| Q1 24 | 56.2% | 57.3% |
营业利润率DECKELAN
| Q4 25 | 31.4% | -22.6% | ||
| Q3 25 | 22.8% | -4.4% | ||
| Q2 25 | 17.1% | 2.0% | ||
| Q1 25 | 17.0% | 5.0% | ||
| Q4 24 | 31.0% | -5.0% | ||
| Q3 24 | 23.3% | 54.3% | ||
| Q2 24 | 16.1% | -2.7% | ||
| Q1 24 | 15.0% | 1.0% |
净利率DECKELAN
| Q4 25 | 24.6% | -24.1% | ||
| Q3 25 | 18.7% | -3.0% | ||
| Q2 25 | 14.4% | 0.9% | ||
| Q1 25 | 14.8% | 5.6% | ||
| Q4 24 | 25.0% | -0.8% | ||
| Q3 24 | 18.5% | 35.3% | ||
| Q2 24 | 14.0% | -4.2% | ||
| Q1 24 | 13.3% | 2.7% |
每股收益（稀释后）DECKELAN
| Q4 25 | $3.33 | $-0.55 | ||
| Q3 25 | $1.82 | $-0.07 | ||
| Q2 25 | $0.93 | $0.02 | ||
| Q1 25 | $-2.78 | $0.13 | ||
| Q4 24 | $3.00 | $-0.01 | ||
| Q3 24 | $1.59 | $0.73 | ||
| Q2 24 | $4.52 | $-0.10 | ||
| Q1 24 | $4.82 | $0.06 |
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 | $545.0M |
| 总债务越低越好 | — | $3.9B |
| 股东权益账面价值 | $2.6B | $6.5B |
| 总资产 | $4.1B | $13.4B |
| 负债/权益比越低杠杆越低 | — | 0.60× |
8季度趋势，按日历期对齐
现金及短期投资DECKELAN
| Q4 25 | $2.1B | $545.0M | ||
| Q3 25 | $1.4B | $505.0M | ||
| Q2 25 | $1.7B | $539.0M | ||
| Q1 25 | $1.9B | $487.0M | ||
| Q4 24 | $2.2B | $468.0M | ||
| Q3 24 | $1.2B | $490.0M | ||
| Q2 24 | $1.4B | $416.0M | ||
| Q1 24 | $1.5B | $345.0M |
总债务DECKELAN
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $5.7B | ||
| Q1 24 | — | $5.8B |
股东权益DECKELAN
| Q4 25 | $2.6B | $6.5B | ||
| Q3 25 | $2.5B | $6.7B | ||
| Q2 25 | $2.5B | $6.8B | ||
| Q1 25 | $2.5B | $6.4B | ||
| Q4 24 | $2.6B | $6.1B | ||
| Q3 24 | $2.2B | $6.5B | ||
| Q2 24 | $2.1B | $5.9B | ||
| Q1 24 | $2.1B | $6.1B |
总资产DECKELAN
| Q4 25 | $4.1B | $13.4B | ||
| Q3 25 | $3.8B | $13.6B | ||
| Q2 25 | $3.8B | $13.7B | ||
| Q1 25 | $3.6B | $12.9B | ||
| Q4 24 | $4.0B | $12.6B | ||
| Q3 24 | $3.4B | $13.3B | ||
| Q2 24 | $3.3B | $13.8B | ||
| Q1 24 | $3.1B | $14.0B |
负债/权益比DECKELAN
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 0.95× |
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 | $108.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $46.0M |
| 自由现金流率自由现金流/营收 | 52.1% | 4.0% |
| 资本支出强度资本支出/营收 | 1.1% | 5.4% |
| 现金转化率经营现金流/净利润 | 2.17× | — |
| 过去12个月自由现金流最近4个季度 | $929.1M | $284.0M |
8季度趋势，按日历期对齐
经营现金流DECKELAN
| Q4 25 | $1.0B | $108.0M | ||
| Q3 25 | $8.1M | $219.0M | ||
| Q2 25 | $36.1M | $237.0M | ||
| Q1 25 | $-73.0M | $-4.0M | ||
| Q4 24 | $1.1B | $177.0M | ||
| Q3 24 | $-90.5M | $162.0M | ||
| Q2 24 | $112.7M | $200.0M | ||
| Q1 24 | $-28.7M | $2.0M |
自由现金流DECKELAN
| Q4 25 | $1.0B | $46.0M | ||
| Q3 25 | $-13.9M | $127.0M | ||
| Q2 25 | $12.2M | $180.0M | ||
| Q1 25 | $-89.4M | $-69.0M | ||
| Q4 24 | $1.1B | $130.0M | ||
| Q3 24 | $-113.4M | $120.0M | ||
| Q2 24 | $90.1M | $166.0M | ||
| Q1 24 | $-44.0M | $-22.0M |
自由现金流率DECKELAN
| Q4 25 | 52.1% | 4.0% | ||
| Q3 25 | -1.0% | 11.2% | ||
| Q2 25 | 1.3% | 14.5% | ||
| Q1 25 | -8.8% | -5.8% | ||
| Q4 24 | 58.6% | 12.7% | ||
| Q3 24 | -8.6% | 11.7% | ||
| Q2 24 | 10.9% | 14.0% | ||
| Q1 24 | -4.6% | -1.8% |
资本支出强度DECKELAN
| Q4 25 | 1.1% | 5.4% | ||
| Q3 25 | 1.5% | 8.1% | ||
| Q2 25 | 2.5% | 4.6% | ||
| Q1 25 | 1.6% | 5.4% | ||
| Q4 24 | 1.3% | 4.6% | ||
| Q3 24 | 1.7% | 4.1% | ||
| Q2 24 | 2.7% | 2.9% | ||
| Q1 24 | 1.6% | 2.0% |
现金转化率DECKELAN
| Q4 25 | 2.17× | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.26× | 21.55× | ||
| Q1 25 | -0.48× | -0.06× | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | 0.45× | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | -0.22× | 0.06× |
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% |
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
