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Deckers Brands（DECK）与伯克希尔·哈撒韦（HEI）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是伯克希尔·哈撒韦的1.6倍（$2.0B vs $1.2B），Deckers Brands净利率更高（24.6% vs 15.6%，领先9.0%），伯克希尔·哈撒韦同比增速更快（19.3% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $268.5M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 16.2%）
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。
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
DECK vs HEI — 直观对比
营收规模更大
DECK
是对方的1.6倍
$1.2B
营收增速更快
HEI
高出12.2%
7.1%
净利率更高
DECK
高出9.0%
15.6%
自由现金流更多
DECK
多$751.8M
$268.5M
两年增速更快
DECK
近两年复合增速
16.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $481.1M | $188.3M |
| 毛利率 | 59.8% | 40.2% |
| 营业利润率 | 31.4% | 23.1% |
| 净利率 | 24.6% | 15.6% |
| 营收同比 | 7.1% | 19.3% |
| 净利润同比 | 5.3% | 34.8% |
| 每股收益（稀释后） | $3.33 | $1.32 |
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DECKHEI
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $964.5M | $1.1B | ||
| Q1 25 | $1.0B | $1.0B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.3B | $992.2M | ||
| Q2 24 | $825.3M | $955.4M | ||
| Q1 24 | $959.8M | $896.4M |
净利润DECKHEI
| Q4 25 | $481.1M | $188.3M | ||
| Q3 25 | $268.2M | $177.3M | ||
| Q2 25 | $139.2M | $156.8M | ||
| Q1 25 | $151.4M | $168.0M | ||
| Q4 24 | $456.7M | $139.7M | ||
| Q3 24 | $242.3M | $136.6M | ||
| Q2 24 | $115.6M | $123.1M | ||
| Q1 24 | $127.5M | $114.7M |
毛利率DECKHEI
| Q4 25 | 59.8% | 40.2% | ||
| Q3 25 | 56.2% | 39.8% | ||
| Q2 25 | 55.8% | 39.9% | ||
| Q1 25 | 56.7% | 39.4% | ||
| Q4 24 | 60.3% | 38.9% | ||
| Q3 24 | 55.9% | 39.2% | ||
| Q2 24 | 56.9% | 38.9% | ||
| Q1 24 | 56.2% | 38.7% |
营业利润率DECKHEI
| Q4 25 | 31.4% | 23.1% | ||
| Q3 25 | 22.8% | 23.1% | ||
| Q2 25 | 17.1% | 22.6% | ||
| Q1 25 | 17.0% | 22.0% | ||
| Q4 24 | 31.0% | 21.6% | ||
| Q3 24 | 23.3% | 21.8% | ||
| Q2 24 | 16.1% | 21.9% | ||
| Q1 24 | 15.0% | 20.1% |
净利率DECKHEI
| Q4 25 | 24.6% | 15.6% | ||
| Q3 25 | 18.7% | 15.5% | ||
| Q2 25 | 14.4% | 14.3% | ||
| Q1 25 | 14.8% | 16.3% | ||
| Q4 24 | 25.0% | 13.8% | ||
| Q3 24 | 18.5% | 13.8% | ||
| Q2 24 | 14.0% | 12.9% | ||
| Q1 24 | 13.3% | 12.8% |
每股收益（稀释后）DECKHEI
| Q4 25 | $3.33 | $1.32 | ||
| Q3 25 | $1.82 | $1.26 | ||
| Q2 25 | $0.93 | $1.12 | ||
| Q1 25 | $-2.78 | $1.20 | ||
| Q4 24 | $3.00 | $1.00 | ||
| Q3 24 | $1.59 | $0.97 | ||
| Q2 24 | $4.52 | $0.88 | ||
| Q1 24 | $4.82 | $0.82 |
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 | $217.8M |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $2.6B | $4.3B |
| 总资产 | $4.1B | $8.5B |
| 负债/权益比越低杠杆越低 | — | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资DECKHEI
| Q4 25 | $2.1B | $217.8M | ||
| Q3 25 | $1.4B | $261.9M | ||
| Q2 25 | $1.7B | $242.3M | ||
| Q1 25 | $1.9B | $165.5M | ||
| Q4 24 | $2.2B | $162.1M | ||
| Q3 24 | $1.2B | $202.9M | ||
| Q2 24 | $1.4B | $204.2M | ||
| Q1 24 | $1.5B | $196.3M |
总债务DECKHEI
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.5B |
股东权益DECKHEI
| Q4 25 | $2.6B | $4.3B | ||
| Q3 25 | $2.5B | $4.1B | ||
| Q2 25 | $2.5B | $4.0B | ||
| Q1 25 | $2.5B | $3.7B | ||
| Q4 24 | $2.6B | $3.6B | ||
| Q3 24 | $2.2B | $3.5B | ||
| Q2 24 | $2.1B | $3.4B | ||
| Q1 24 | $2.1B | $3.3B |
总资产DECKHEI
| Q4 25 | $4.1B | $8.5B | ||
| Q3 25 | $3.8B | $8.5B | ||
| Q2 25 | $3.8B | $8.1B | ||
| Q1 25 | $3.6B | $7.9B | ||
| Q4 24 | $4.0B | $7.6B | ||
| Q3 24 | $3.4B | $7.4B | ||
| Q2 24 | $3.3B | $7.4B | ||
| Q1 24 | $3.1B | $7.3B |
负债/权益比DECKHEI
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.76× |
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 | $295.3M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $268.5M |
| 自由现金流率自由现金流/营收 | 52.1% | 22.2% |
| 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× | 1.57× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $861.4M |
8季度趋势，按日历期对齐
经营现金流DECKHEI
| Q4 25 | $1.0B | $295.3M | ||
| Q3 25 | $8.1M | $231.2M | ||
| Q2 25 | $36.1M | $204.7M | ||
| Q1 25 | $-73.0M | $203.0M | ||
| Q4 24 | $1.1B | $205.6M | ||
| Q3 24 | $-90.5M | $214.0M | ||
| Q2 24 | $112.7M | $141.1M | ||
| Q1 24 | $-28.7M | $111.7M |
自由现金流DECKHEI
| Q4 25 | $1.0B | $268.5M | ||
| Q3 25 | $-13.9M | $218.5M | ||
| Q2 25 | $12.2M | $188.7M | ||
| Q1 25 | $-89.4M | $185.7M | ||
| Q4 24 | $1.1B | $189.5M | ||
| Q3 24 | $-113.4M | $198.1M | ||
| Q2 24 | $90.1M | $128.2M | ||
| Q1 24 | $-44.0M | $98.3M |
自由现金流率DECKHEI
| Q4 25 | 52.1% | 22.2% | ||
| Q3 25 | -1.0% | 19.0% | ||
| Q2 25 | 1.3% | 17.2% | ||
| Q1 25 | -8.8% | 18.0% | ||
| Q4 24 | 58.6% | 18.7% | ||
| Q3 24 | -8.6% | 20.0% | ||
| Q2 24 | 10.9% | 13.4% | ||
| Q1 24 | -4.6% | 11.0% |
资本支出强度DECKHEI
| Q4 25 | 1.1% | 2.2% | ||
| Q3 25 | 1.5% | 1.1% | ||
| Q2 25 | 2.5% | 1.5% | ||
| Q1 25 | 1.6% | 1.7% | ||
| Q4 24 | 1.3% | 1.6% | ||
| Q3 24 | 1.7% | 1.6% | ||
| Q2 24 | 2.7% | 1.4% | ||
| Q1 24 | 1.6% | 1.5% |
现金转化率DECKHEI
| Q4 25 | 2.17× | 1.57× | ||
| Q3 25 | 0.03× | 1.30× | ||
| Q2 25 | 0.26× | 1.31× | ||
| Q1 25 | -0.48× | 1.21× | ||
| Q4 24 | 2.40× | 1.47× | ||
| Q3 24 | -0.37× | 1.57× | ||
| Q2 24 | 0.97× | 1.15× | ||
| Q1 24 | -0.22× | 0.97× |
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% |
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
