vs
Deckers Brands（DECK）与飞塔（FTNT）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是飞塔的1.0倍（$2.0B vs $1.9B），飞塔净利率更高（26.6% vs 24.6%，领先2.0%），飞塔同比增速更快（14.8% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $577.4M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 18.6%）
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。
飞塔（Fortinet）是总部位于美国加利福尼亚州森尼韦尔的网络安全企业，专注于研发与销售防火墙、终端安全、入侵检测系统等各类网络安全产品，目前在美国、加拿大、英国等多个国家设有办事机构。
DECK vs FTNT — 直观对比
营收规模更大
DECK
是对方的1.0倍
$1.9B
营收增速更快
FTNT
高出7.6%
7.1%
净利率更高
FTNT
高出2.0%
24.6%
自由现金流更多
DECK
多$442.9M
$577.4M
两年增速更快
DECK
近两年复合增速
18.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.9B |
| 净利润 | $481.1M | $506.0M |
| 毛利率 | 59.8% | 79.6% |
| 营业利润率 | 31.4% | 32.8% |
| 净利率 | 24.6% | 26.6% |
| 营收同比 | 7.1% | 14.8% |
| 净利润同比 | 5.3% | -3.8% |
| 每股收益（稀释后） | $3.33 | $0.67 |
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DECKFTNT
| Q4 25 | $2.0B | $1.9B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $964.5M | $1.6B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $825.3M | $1.4B | ||
| Q1 24 | $959.8M | $1.4B |
净利润DECKFTNT
| Q4 25 | $481.1M | $506.0M | ||
| Q3 25 | $268.2M | $473.9M | ||
| Q2 25 | $139.2M | $440.1M | ||
| Q1 25 | $151.4M | $433.4M | ||
| Q4 24 | $456.7M | $526.2M | ||
| Q3 24 | $242.3M | $539.9M | ||
| Q2 24 | $115.6M | $379.8M | ||
| Q1 24 | $127.5M | $299.3M |
毛利率DECKFTNT
| Q4 25 | 59.8% | 79.6% | ||
| Q3 25 | 56.2% | 80.8% | ||
| Q2 25 | 55.8% | 80.7% | ||
| Q1 25 | 56.7% | 81.0% | ||
| Q4 24 | 60.3% | 81.1% | ||
| Q3 24 | 55.9% | 82.5% | ||
| Q2 24 | 56.9% | 80.8% | ||
| Q1 24 | 56.2% | 77.5% |
营业利润率DECKFTNT
| Q4 25 | 31.4% | 32.8% | ||
| Q3 25 | 22.8% | 31.7% | ||
| Q2 25 | 17.1% | 28.1% | ||
| Q1 25 | 17.0% | 29.5% | ||
| Q4 24 | 31.0% | 34.6% | ||
| Q3 24 | 23.3% | 31.2% | ||
| Q2 24 | 16.1% | 30.5% | ||
| Q1 24 | 15.0% | 23.7% |
净利率DECKFTNT
| Q4 25 | 24.6% | 26.6% | ||
| Q3 25 | 18.7% | 27.5% | ||
| Q2 25 | 14.4% | 27.0% | ||
| Q1 25 | 14.8% | 28.1% | ||
| Q4 24 | 25.0% | 31.7% | ||
| Q3 24 | 18.5% | 35.8% | ||
| Q2 24 | 14.0% | 26.5% | ||
| Q1 24 | 13.3% | 22.1% |
每股收益（稀释后）DECKFTNT
| Q4 25 | $3.33 | $0.67 | ||
| Q3 25 | $1.82 | $0.62 | ||
| Q2 25 | $0.93 | $0.57 | ||
| Q1 25 | $-2.78 | $0.56 | ||
| Q4 24 | $3.00 | $0.68 | ||
| Q3 24 | $1.59 | $0.70 | ||
| Q2 24 | $4.52 | $0.49 | ||
| Q1 24 | $4.82 | $0.39 |
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 | $2.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $1.2B |
| 总资产 | $4.1B | $10.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DECKFTNT
| Q4 25 | $2.1B | $2.5B | ||
| Q3 25 | $1.4B | $2.0B | ||
| Q2 25 | $1.7B | $3.4B | ||
| Q1 25 | $1.9B | $3.6B | ||
| Q4 24 | $2.2B | $2.9B | ||
| Q3 24 | $1.2B | $2.5B | ||
| Q2 24 | $1.4B | $2.2B | ||
| Q1 24 | $1.5B | $1.9B |
股东权益DECKFTNT
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.5B | $735.1M | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.5B | $2.0B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.2B | $908.1M | ||
| Q2 24 | $2.1B | $288.2M | ||
| Q1 24 | $2.1B | $-137.5M |
总资产DECKFTNT
| Q4 25 | $4.1B | $10.4B | ||
| Q3 25 | $3.8B | $9.4B | ||
| Q2 25 | $3.8B | $10.6B | ||
| Q1 25 | $3.6B | $10.4B | ||
| Q4 24 | $4.0B | $9.8B | ||
| Q3 24 | $3.4B | $8.9B | ||
| Q2 24 | $3.3B | $8.1B | ||
| Q1 24 | $3.1B | $7.7B |
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 | $620.2M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $577.4M |
| 自由现金流率自由现金流/营收 | 52.1% | 30.3% |
| 资本支出强度资本支出/营收 | 1.1% | 2.2% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $2.2B |
8季度趋势，按日历期对齐
经营现金流DECKFTNT
| Q4 25 | $1.0B | $620.2M | ||
| Q3 25 | $8.1M | $655.2M | ||
| Q2 25 | $36.1M | $451.9M | ||
| Q1 25 | $-73.0M | $863.3M | ||
| Q4 24 | $1.1B | $477.6M | ||
| Q3 24 | $-90.5M | $608.1M | ||
| Q2 24 | $112.7M | $342.0M | ||
| Q1 24 | $-28.7M | $830.4M |
自由现金流DECKFTNT
| Q4 25 | $1.0B | $577.4M | ||
| Q3 25 | $-13.9M | $567.5M | ||
| Q2 25 | $12.2M | $284.1M | ||
| Q1 25 | $-89.4M | $796.8M | ||
| Q4 24 | $1.1B | $380.0M | ||
| Q3 24 | $-113.4M | $571.8M | ||
| Q2 24 | $90.1M | $318.9M | ||
| Q1 24 | $-44.0M | $608.5M |
自由现金流率DECKFTNT
| Q4 25 | 52.1% | 30.3% | ||
| Q3 25 | -1.0% | 32.9% | ||
| Q2 25 | 1.3% | 17.4% | ||
| Q1 25 | -8.8% | 51.8% | ||
| Q4 24 | 58.6% | 22.9% | ||
| Q3 24 | -8.6% | 37.9% | ||
| Q2 24 | 10.9% | 22.2% | ||
| Q1 24 | -4.6% | 45.0% |
资本支出强度DECKFTNT
| Q4 25 | 1.1% | 2.2% | ||
| Q3 25 | 1.5% | 5.1% | ||
| Q2 25 | 2.5% | 10.3% | ||
| Q1 25 | 1.6% | 4.3% | ||
| Q4 24 | 1.3% | 5.9% | ||
| Q3 24 | 1.7% | 2.4% | ||
| Q2 24 | 2.7% | 1.6% | ||
| Q1 24 | 1.6% | 16.4% |
现金转化率DECKFTNT
| Q4 25 | 2.17× | 1.23× | ||
| Q3 25 | 0.03× | 1.38× | ||
| Q2 25 | 0.26× | 1.03× | ||
| Q1 25 | -0.48× | 1.99× | ||
| Q4 24 | 2.40× | 0.91× | ||
| Q3 24 | -0.37× | 1.13× | ||
| Q2 24 | 0.97× | 0.90× | ||
| Q1 24 | -0.22× | 2.77× |
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% |
FTNT
| Services | $1.2B | 64% |
| Security Subscription | $693.7M | 36% |
