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Deckers Brands（DECK）与亨斯迈（HUN）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是亨斯迈的1.4倍（$2.0B vs $1.4B），Deckers Brands净利率更高（24.6% vs -7.1%，领先31.7%），Deckers Brands同比增速更快（7.1% vs -6.7%），Deckers Brands自由现金流更多（$1.0B vs $19.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs -4.0%）
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。
亨斯迈公司是总部位于美国得克萨斯州伍德兰兹的全球化化工巨头，面向消费端与工业客户生产、销售各类化工产品，主营聚氨酯、高性能材料及胶粘剂，客户覆盖宝马、通用电气、雪佛龙、宝洁、联合利华等知名品牌。目前公司在全球25个国家设有60余处生产、研发及运营基地，员工约7000人。
DECK vs HUN — 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
DECK
高出13.8%
-6.7%
净利率更高
DECK
高出31.7%
-7.1%
自由现金流更多
DECK
多$1.0B
$19.0M
两年增速更快
DECK
近两年复合增速
-4.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.4B |
| 净利润 | $481.1M | $-96.0M |
| 毛利率 | 59.8% | 12.1% |
| 营业利润率 | 31.4% | -4.4% |
| 净利率 | 24.6% | -7.1% |
| 营收同比 | 7.1% | -6.7% |
| 净利润同比 | 5.3% | 31.9% |
| 每股收益（稀释后） | $3.33 | $-0.56 |
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DECKHUN
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $964.5M | $1.5B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $825.3M | $1.6B | ||
| Q1 24 | $959.8M | $1.5B |
净利润DECKHUN
| Q4 25 | $481.1M | $-96.0M | ||
| Q3 25 | $268.2M | $-25.0M | ||
| Q2 25 | $139.2M | $-158.0M | ||
| Q1 25 | $151.4M | $-5.0M | ||
| Q4 24 | $456.7M | $-141.0M | ||
| Q3 24 | $242.3M | $-33.0M | ||
| Q2 24 | $115.6M | $22.0M | ||
| Q1 24 | $127.5M | $-37.0M |
毛利率DECKHUN
| Q4 25 | 59.8% | 12.1% | ||
| Q3 25 | 56.2% | 14.0% | ||
| Q2 25 | 55.8% | 12.5% | ||
| Q1 25 | 56.7% | 14.3% | ||
| Q4 24 | 60.3% | 12.9% | ||
| Q3 24 | 55.9% | 15.2% | ||
| Q2 24 | 56.9% | 15.4% | ||
| Q1 24 | 56.2% | 13.7% |
营业利润率DECKHUN
| Q4 25 | 31.4% | -4.4% | ||
| Q3 25 | 22.8% | 0.4% | ||
| Q2 25 | 17.1% | -8.2% | ||
| Q1 25 | 17.0% | 3.0% | ||
| Q4 24 | 31.0% | -4.3% | ||
| Q3 24 | 23.3% | 2.7% | ||
| Q2 24 | 16.1% | 2.2% | ||
| Q1 24 | 15.0% | -2.6% |
净利率DECKHUN
| Q4 25 | 24.6% | -7.1% | ||
| Q3 25 | 18.7% | -1.7% | ||
| Q2 25 | 14.4% | -10.8% | ||
| Q1 25 | 14.8% | -0.4% | ||
| Q4 24 | 25.0% | -9.7% | ||
| Q3 24 | 18.5% | -2.1% | ||
| Q2 24 | 14.0% | 1.4% | ||
| Q1 24 | 13.3% | -2.5% |
每股收益（稀释后）DECKHUN
| Q4 25 | $3.33 | $-0.56 | ||
| Q3 25 | $1.82 | $-0.14 | ||
| Q2 25 | $0.93 | $-0.92 | ||
| Q1 25 | $-2.78 | $-0.03 | ||
| Q4 24 | $3.00 | $-0.82 | ||
| Q3 24 | $1.59 | $-0.19 | ||
| Q2 24 | $4.52 | $0.13 | ||
| Q1 24 | $4.82 | $-0.22 |
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 | $429.0M |
| 总债务越低越好 | — | $2.0B |
| 股东权益账面价值 | $2.6B | $2.8B |
| 总资产 | $4.1B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资DECKHUN
| Q4 25 | $2.1B | $429.0M | ||
| Q3 25 | $1.4B | $468.0M | ||
| Q2 25 | $1.7B | $399.0M | ||
| Q1 25 | $1.9B | $334.0M | ||
| Q4 24 | $2.2B | $340.0M | ||
| Q3 24 | $1.2B | $330.0M | ||
| Q2 24 | $1.4B | $335.0M | ||
| Q1 24 | $1.5B | $552.0M |
总债务DECKHUN
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $2.1B |
股东权益DECKHUN
| Q4 25 | $2.6B | $2.8B | ||
| Q3 25 | $2.5B | $2.8B | ||
| Q2 25 | $2.5B | $2.8B | ||
| Q1 25 | $2.5B | $3.0B | ||
| Q4 24 | $2.6B | $3.0B | ||
| Q3 24 | $2.2B | $3.1B | ||
| Q2 24 | $2.1B | $3.1B | ||
| Q1 24 | $2.1B | $3.2B |
总资产DECKHUN
| Q4 25 | $4.1B | $7.0B | ||
| Q3 25 | $3.8B | $7.1B | ||
| Q2 25 | $3.8B | $7.1B | ||
| Q1 25 | $3.6B | $7.2B | ||
| Q4 24 | $4.0B | $7.1B | ||
| Q3 24 | $3.4B | $7.3B | ||
| Q2 24 | $3.3B | $7.3B | ||
| Q1 24 | $3.1B | $7.6B |
负债/权益比DECKHUN
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | 0.60× | ||
| Q2 24 | — | 0.62× | ||
| Q1 24 | — | 0.65× |
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 | $76.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $19.0M |
| 自由现金流率自由现金流/营收 | 52.1% | 1.4% |
| 资本支出强度资本支出/营收 | 1.1% | 4.2% |
| 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 | $116.0M |
8季度趋势，按日历期对齐
经营现金流DECKHUN
| Q4 25 | $1.0B | $76.0M | ||
| Q3 25 | $8.1M | $196.0M | ||
| Q2 25 | $36.1M | $91.0M | ||
| Q1 25 | $-73.0M | $-74.0M | ||
| Q4 24 | $1.1B | $153.0M | ||
| Q3 24 | $-90.5M | $129.0M | ||
| Q2 24 | $112.7M | $46.0M | ||
| Q1 24 | $-28.7M | $-65.0M |
自由现金流DECKHUN
| Q4 25 | $1.0B | $19.0M | ||
| Q3 25 | $-13.9M | $153.0M | ||
| Q2 25 | $12.2M | $54.0M | ||
| Q1 25 | $-89.4M | $-110.0M | ||
| Q4 24 | $1.1B | $102.0M | ||
| Q3 24 | $-113.4M | $88.0M | ||
| Q2 24 | $90.1M | $-4.0M | ||
| Q1 24 | $-44.0M | $-107.0M |
自由现金流率DECKHUN
| Q4 25 | 52.1% | 1.4% | ||
| Q3 25 | -1.0% | 10.5% | ||
| Q2 25 | 1.3% | 3.7% | ||
| Q1 25 | -8.8% | -7.8% | ||
| Q4 24 | 58.6% | 7.0% | ||
| Q3 24 | -8.6% | 5.7% | ||
| Q2 24 | 10.9% | -0.3% | ||
| Q1 24 | -4.6% | -7.3% |
资本支出强度DECKHUN
| Q4 25 | 1.1% | 4.2% | ||
| Q3 25 | 1.5% | 2.9% | ||
| Q2 25 | 2.5% | 2.5% | ||
| Q1 25 | 1.6% | 2.6% | ||
| Q4 24 | 1.3% | 3.5% | ||
| Q3 24 | 1.7% | 2.7% | ||
| Q2 24 | 2.7% | 3.2% | ||
| Q1 24 | 1.6% | 2.9% |
现金转化率DECKHUN
| Q4 25 | 2.17× | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | — | ||
| Q2 24 | 0.97× | 2.09× | ||
| Q1 24 | -0.22× | — |
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% |
HUN
| Diversified | $897.0M | 66% |
| Specialty | $231.0M | 17% |
| Performance Products | $113.0M | 8% |
| Advanced Materials | $61.0M | 5% |
| Related Party Customers | $19.0M | 1% |
| Other | $12.0M | 1% |
