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Deckers Brands（DECK）与孩之宝（HAS）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是孩之宝的1.4倍（$2.0B vs $1.4B），Deckers Brands净利率更高（24.6% vs 13.9%，领先10.6%），孩之宝同比增速更快（31.3% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $389.5M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 38.2%）
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。
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
DECK vs HAS — 直观对比
营收规模更大
DECK
是对方的1.4倍
$1.4B
营收增速更快
HAS
高出24.1%
7.1%
净利率更高
DECK
高出10.6%
13.9%
自由现金流更多
DECK
多$630.8M
$389.5M
两年增速更快
DECK
近两年复合增速
38.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.4B |
| 净利润 | $481.1M | $201.6M |
| 毛利率 | 59.8% | 68.7% |
| 营业利润率 | 31.4% | 20.6% |
| 净利率 | 24.6% | 13.9% |
| 营收同比 | 7.1% | 31.3% |
| 净利润同比 | 5.3% | 687.8% |
| 每股收益（稀释后） | $3.33 | $1.46 |
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DECKHAS
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $964.5M | $980.8M | ||
| Q1 25 | $1.0B | $887.1M | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $825.3M | $995.3M | ||
| Q1 24 | $959.8M | $757.3M |
净利润DECKHAS
| Q4 25 | $481.1M | $201.6M | ||
| Q3 25 | $268.2M | $233.2M | ||
| Q2 25 | $139.2M | $-855.8M | ||
| Q1 25 | $151.4M | $98.6M | ||
| Q4 24 | $456.7M | $-34.3M | ||
| Q3 24 | $242.3M | $223.2M | ||
| Q2 24 | $115.6M | $138.5M | ||
| Q1 24 | $127.5M | $58.2M |
毛利率DECKHAS
| Q4 25 | 59.8% | 68.7% | ||
| Q3 25 | 56.2% | 70.1% | ||
| Q2 25 | 55.8% | 77.0% | ||
| Q1 25 | 56.7% | 76.9% | ||
| Q4 24 | 60.3% | 67.4% | ||
| Q3 24 | 55.9% | 70.4% | ||
| Q2 24 | 56.9% | 76.1% | ||
| Q1 24 | 56.2% | 73.0% |
营业利润率DECKHAS
| Q4 25 | 31.4% | 20.6% | ||
| Q3 25 | 22.8% | 24.6% | ||
| Q2 25 | 17.1% | -81.4% | ||
| Q1 25 | 17.0% | 19.2% | ||
| Q4 24 | 31.0% | 5.4% | ||
| Q3 24 | 23.3% | 23.6% | ||
| Q2 24 | 16.1% | 21.3% | ||
| Q1 24 | 15.0% | 15.3% |
净利率DECKHAS
| Q4 25 | 24.6% | 13.9% | ||
| Q3 25 | 18.7% | 16.8% | ||
| Q2 25 | 14.4% | -87.3% | ||
| Q1 25 | 14.8% | 11.1% | ||
| Q4 24 | 25.0% | -3.1% | ||
| Q3 24 | 18.5% | 17.4% | ||
| Q2 24 | 14.0% | 13.9% | ||
| Q1 24 | 13.3% | 7.7% |
每股收益（稀释后）DECKHAS
| Q4 25 | $3.33 | $1.46 | ||
| Q3 25 | $1.82 | $1.64 | ||
| Q2 25 | $0.93 | $-6.10 | ||
| Q1 25 | $-2.78 | $0.70 | ||
| Q4 24 | $3.00 | $-0.25 | ||
| Q3 24 | $1.59 | $1.59 | ||
| Q2 24 | $4.52 | $0.99 | ||
| Q1 24 | $4.82 | $0.42 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $565.5M |
| 总资产 | $4.1B | $5.6B |
| 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DECKHAS
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
股东权益DECKHAS
| Q4 25 | $2.6B | $565.5M | ||
| Q3 25 | $2.5B | $433.8M | ||
| Q2 25 | $2.5B | $269.7M | ||
| Q1 25 | $2.5B | $1.2B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.2B | $1.3B | ||
| Q2 24 | $2.1B | $1.2B | ||
| Q1 24 | $2.1B | $1.0B |
总资产DECKHAS
| Q4 25 | $4.1B | $5.6B | ||
| Q3 25 | $3.8B | $5.5B | ||
| Q2 25 | $3.8B | $5.2B | ||
| Q1 25 | $3.6B | $6.0B | ||
| Q4 24 | $4.0B | $6.3B | ||
| Q3 24 | $3.4B | $7.2B | ||
| Q2 24 | $3.3B | $6.9B | ||
| Q1 24 | $3.1B | $6.2B |
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 | $403.2M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $389.5M |
| 自由现金流率自由现金流/营收 | 52.1% | 26.9% |
| 资本支出强度资本支出/营收 | 1.1% | 0.9% |
| 现金转化率经营现金流/净利润 | 2.17× | 2.00× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $829.9M |
8季度趋势，按日历期对齐
经营现金流DECKHAS
| Q4 25 | $1.0B | $403.2M | ||
| Q3 25 | $8.1M | $280.6M | ||
| Q2 25 | $36.1M | $71.3M | ||
| Q1 25 | $-73.0M | $138.1M | ||
| Q4 24 | $1.1B | $259.8M | ||
| Q3 24 | $-90.5M | $222.5M | ||
| Q2 24 | $112.7M | $187.3M | ||
| Q1 24 | $-28.7M | $177.8M |
自由现金流DECKHAS
| Q4 25 | $1.0B | $389.5M | ||
| Q3 25 | $-13.9M | $260.9M | ||
| Q2 25 | $12.2M | $55.2M | ||
| Q1 25 | $-89.4M | $124.3M | ||
| Q4 24 | $1.1B | $200.8M | ||
| Q3 24 | $-113.4M | $174.0M | ||
| Q2 24 | $90.1M | $135.4M | ||
| Q1 24 | $-44.0M | $132.0M |
自由现金流率DECKHAS
| Q4 25 | 52.1% | 26.9% | ||
| Q3 25 | -1.0% | 18.8% | ||
| Q2 25 | 1.3% | 5.6% | ||
| Q1 25 | -8.8% | 14.0% | ||
| Q4 24 | 58.6% | 18.2% | ||
| Q3 24 | -8.6% | 13.6% | ||
| Q2 24 | 10.9% | 13.6% | ||
| Q1 24 | -4.6% | 17.4% |
资本支出强度DECKHAS
| Q4 25 | 1.1% | 0.9% | ||
| Q3 25 | 1.5% | 1.4% | ||
| Q2 25 | 2.5% | 1.6% | ||
| Q1 25 | 1.6% | 1.6% | ||
| Q4 24 | 1.3% | 5.4% | ||
| Q3 24 | 1.7% | 3.8% | ||
| Q2 24 | 2.7% | 5.2% | ||
| Q1 24 | 1.6% | 6.0% |
现金转化率DECKHAS
| Q4 25 | 2.17× | 2.00× | ||
| Q3 25 | 0.03× | 1.20× | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | -0.48× | 1.40× | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | 1.00× | ||
| Q2 24 | 0.97× | 1.35× | ||
| Q1 24 | -0.22× | 3.05× |
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% |
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
