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Deckers Brands（DECK）与欢聚集团（JOYY）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是欢聚集团的1.3倍（$2.0B vs $1.5B），Deckers Brands净利率更高（24.6% vs 10.4%，领先14.2%），过去两年Deckers Brands的营收复合增速更高（42.8% vs 16.8%）
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。
欢聚集团是全球化社交媒体科技企业，主营直播、短视频、社交互动类数字娱乐服务，核心产品覆盖东南亚、中东、拉美等多个新兴市场，为全球用户提供丰富的沉浸式互动内容体验。
DECK vs JOYY — 直观对比
营收规模更大
DECK
是对方的1.3倍
$1.5B
净利率更高
DECK
高出14.2%
10.4%
两年增速更快
DECK
近两年复合增速
16.8%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.5B |
| 净利润 | $481.1M | $160.1M |
| 毛利率 | 59.8% | 36.1% |
| 营业利润率 | 31.4% | 2.4% |
| 净利率 | 24.6% | 10.4% |
| 营收同比 | 7.1% | — |
| 净利润同比 | 5.3% | — |
| 每股收益（稀释后） | $3.33 | — |
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DECKJOYY
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $964.5M | $1.0B | ||
| Q1 25 | $1.0B | $494.4M | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $825.3M | $1.1B | ||
| Q1 24 | $959.8M | $564.6M |
净利润DECKJOYY
| Q4 25 | $481.1M | — | ||
| Q3 25 | $268.2M | $160.1M | ||
| Q2 25 | $139.2M | $100.9M | ||
| Q1 25 | $151.4M | $42.9M | ||
| Q4 24 | $456.7M | — | ||
| Q3 24 | $242.3M | $143.9M | ||
| Q2 24 | $115.6M | $87.9M | ||
| Q1 24 | $127.5M | $40.2M |
毛利率DECKJOYY
| Q4 25 | 59.8% | — | ||
| Q3 25 | 56.2% | 36.1% | ||
| Q2 25 | 55.8% | 36.3% | ||
| Q1 25 | 56.7% | 36.1% | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 55.9% | 35.7% | ||
| Q2 24 | 56.9% | 34.9% | ||
| Q1 24 | 56.2% | 34.6% |
营业利润率DECKJOYY
| Q4 25 | 31.4% | — | ||
| Q3 25 | 22.8% | 2.4% | ||
| Q2 25 | 17.1% | 1.8% | ||
| Q1 25 | 17.0% | 2.5% | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 23.3% | 1.3% | ||
| Q2 24 | 16.1% | 0.5% | ||
| Q1 24 | 15.0% | 0.6% |
净利率DECKJOYY
| Q4 25 | 24.6% | — | ||
| Q3 25 | 18.7% | 10.4% | ||
| Q2 25 | 14.4% | 10.1% | ||
| Q1 25 | 14.8% | 8.7% | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 18.5% | 8.5% | ||
| Q2 24 | 14.0% | 7.8% | ||
| Q1 24 | 13.3% | 7.1% |
每股收益（稀释后）DECKJOYY
| Q4 25 | $3.33 | — | ||
| Q3 25 | $1.82 | — | ||
| Q2 25 | $0.93 | — | ||
| Q1 25 | $-2.78 | — | ||
| Q4 24 | $3.00 | — | ||
| Q3 24 | $1.59 | — | ||
| Q2 24 | $4.52 | — | ||
| Q1 24 | $4.82 | — |
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 | $383.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $6.6B |
| 总资产 | $4.1B | $7.5B |
| 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DECKJOYY
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.4B | $383.8M | ||
| Q2 25 | $1.7B | $401.0M | ||
| Q1 25 | $1.9B | $801.5M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.2B | $481.8M | ||
| Q2 24 | $1.4B | $607.1M | ||
| Q1 24 | $1.5B | $728.2M |
股东权益DECKJOYY
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.5B | $6.6B | ||
| Q2 25 | $2.5B | $6.6B | ||
| Q1 25 | $2.5B | $6.6B | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.2B | $5.3B | ||
| Q2 24 | $2.1B | $5.3B | ||
| Q1 24 | $2.1B | $5.3B |
总资产DECKJOYY
| Q4 25 | $4.1B | — | ||
| Q3 25 | $3.8B | $7.5B | ||
| Q2 25 | $3.8B | $7.5B | ||
| Q1 25 | $3.6B | $7.6B | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $3.4B | $8.1B | ||
| Q2 24 | $3.3B | $8.1B | ||
| Q1 24 | $3.1B | $8.6B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $1.0B | — |
| 自由现金流率自由现金流/营收 | 52.1% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流DECKJOYY
| Q4 25 | $1.0B | — | ||
| Q3 25 | $8.1M | — | ||
| Q2 25 | $36.1M | — | ||
| Q1 25 | $-73.0M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $-90.5M | — | ||
| Q2 24 | $112.7M | — | ||
| Q1 24 | $-28.7M | — |
自由现金流DECKJOYY
| Q4 25 | $1.0B | — | ||
| Q3 25 | $-13.9M | — | ||
| Q2 25 | $12.2M | — | ||
| Q1 25 | $-89.4M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $-113.4M | — | ||
| Q2 24 | $90.1M | — | ||
| Q1 24 | $-44.0M | — |
自由现金流率DECKJOYY
| Q4 25 | 52.1% | — | ||
| Q3 25 | -1.0% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | -8.8% | — | ||
| Q4 24 | 58.6% | — | ||
| Q3 24 | -8.6% | — | ||
| Q2 24 | 10.9% | — | ||
| Q1 24 | -4.6% | — |
资本支出强度DECKJOYY
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 1.6% | — |
现金转化率DECKJOYY
| 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× | — | ||
| 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% |
JOYY
| Live streaming | $1.1B | 74% |
| Advertising | $297.3M | 19% |
| Others | $109.8M | 7% |
