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Deckers Brands（DECK）与MARKEL GROUP INC.（MKL）财务数据对比。点击上方公司名可切换其他公司
MARKEL GROUP INC.的季度营收约是Deckers Brands的1.8倍（$3.6B vs $2.0B），Deckers Brands净利率更高（24.6% vs 16.1%，领先8.5%），Deckers Brands同比增速更快（7.1% vs -6.9%），Deckers Brands自由现金流更多（$1.0B vs $599.1M），过去两年Deckers Brands的营收复合增速更高（42.8% vs -10.5%）
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。
Markel集团是总部位于美国弗吉尼亚州里士满的综合性企业集团，1930年最初以保险公司的身份创立，发展至今业务已覆盖保险承保、投资管理等多个板块，在全球相关行业拥有较高的市场知名度与稳定的合作网络。
DECK vs MKL — 直观对比
营收规模更大
MKL
是对方的1.8倍
$2.0B
营收增速更快
DECK
高出14.0%
-6.9%
净利率更高
DECK
高出8.5%
16.1%
自由现金流更多
DECK
多$421.2M
$599.1M
两年增速更快
DECK
近两年复合增速
-10.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $3.6B |
| 净利润 | $481.1M | $576.8M |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 22.2% |
| 净利率 | 24.6% | 16.1% |
| 营收同比 | 7.1% | -6.9% |
| 净利润同比 | 5.3% | 5.0% |
| 每股收益（稀释后） | $3.33 | $48.22 |
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DECKMKL
| Q4 25 | $2.0B | $3.6B | ||
| Q3 25 | $1.4B | $3.9B | ||
| Q2 25 | $964.5M | $4.6B | ||
| Q1 25 | $1.0B | $3.4B | ||
| Q4 24 | $1.8B | $3.8B | ||
| Q3 24 | $1.3B | $4.6B | ||
| Q2 24 | $825.3M | $3.7B | ||
| Q1 24 | $959.8M | $4.5B |
净利润DECKMKL
| Q4 25 | $481.1M | $576.8M | ||
| Q3 25 | $268.2M | $751.3M | ||
| Q2 25 | $139.2M | $657.1M | ||
| Q1 25 | $151.4M | $121.7M | ||
| Q4 24 | $456.7M | $549.2M | ||
| Q3 24 | $242.3M | $905.0M | ||
| Q2 24 | $115.6M | $267.7M | ||
| Q1 24 | $127.5M | $1.0B |
毛利率DECKMKL
| Q4 25 | 59.8% | — | ||
| Q3 25 | 56.2% | — | ||
| Q2 25 | 55.8% | — | ||
| Q1 25 | 56.7% | — | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 55.9% | — | ||
| Q2 24 | 56.9% | — | ||
| Q1 24 | 56.2% | — |
营业利润率DECKMKL
| Q4 25 | 31.4% | 22.2% | ||
| Q3 25 | 22.8% | 25.7% | ||
| Q2 25 | 17.1% | 24.1% | ||
| Q1 25 | 17.0% | 8.3% | ||
| Q4 24 | 31.0% | 15.5% | ||
| Q3 24 | 23.3% | 29.7% | ||
| Q2 24 | 16.1% | 11.1% | ||
| Q1 24 | 15.0% | 29.9% |
净利率DECKMKL
| Q4 25 | 24.6% | 16.1% | ||
| Q3 25 | 18.7% | 19.1% | ||
| Q2 25 | 14.4% | 14.3% | ||
| Q1 25 | 14.8% | 3.6% | ||
| Q4 24 | 25.0% | 14.3% | ||
| Q3 24 | 18.5% | 19.6% | ||
| Q2 24 | 14.0% | 7.2% | ||
| Q1 24 | 13.3% | 23.0% |
每股收益（稀释后）DECKMKL
| Q4 25 | $3.33 | $48.22 | ||
| Q3 25 | $1.82 | $59.25 | ||
| Q2 25 | $0.93 | $49.67 | ||
| Q1 25 | $-2.78 | $12.08 | ||
| Q4 24 | $3.00 | $39.02 | ||
| Q3 24 | $1.59 | $66.25 | ||
| Q2 24 | $4.52 | $18.62 | ||
| Q1 24 | $4.82 | $75.43 |
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 | $4.0B |
| 总债务越低越好 | — | $4.3B |
| 股东权益账面价值 | $2.6B | $18.6B |
| 总资产 | $4.1B | $68.9B |
| 负债/权益比越低杠杆越低 | — | 0.23× |
8季度趋势，按日历期对齐
现金及短期投资DECKMKL
| Q4 25 | $2.1B | $4.0B | ||
| Q3 25 | $1.4B | $4.0B | ||
| Q2 25 | $1.7B | $3.7B | ||
| Q1 25 | $1.9B | $4.2B | ||
| Q4 24 | $2.2B | $3.7B | ||
| Q3 24 | $1.2B | $3.9B | ||
| Q2 24 | $1.4B | $3.5B | ||
| Q1 24 | $1.5B | $3.6B |
总债务DECKMKL
| Q4 25 | — | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $3.9B |
股东权益DECKMKL
| Q4 25 | $2.6B | $18.6B | ||
| Q3 25 | $2.5B | $18.0B | ||
| Q2 25 | $2.5B | $17.3B | ||
| Q1 25 | $2.5B | $17.1B | ||
| Q4 24 | $2.6B | $16.9B | ||
| Q3 24 | $2.2B | $17.0B | ||
| Q2 24 | $2.1B | $15.9B | ||
| Q1 24 | $2.1B | $15.7B |
总资产DECKMKL
| Q4 25 | $4.1B | $68.9B | ||
| Q3 25 | $3.8B | $67.4B | ||
| Q2 25 | $3.8B | $66.8B | ||
| Q1 25 | $3.6B | $64.6B | ||
| Q4 24 | $4.0B | $61.9B | ||
| Q3 24 | $3.4B | $62.3B | ||
| Q2 24 | $3.3B | $59.7B | ||
| Q1 24 | $3.1B | $57.3B |
负债/权益比DECKMKL
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.28× | ||
| Q1 24 | — | 0.25× |
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 | $662.2M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $599.1M |
| 自由现金流率自由现金流/营收 | 52.1% | 16.7% |
| 资本支出强度资本支出/营收 | 1.1% | 1.8% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $2.6B |
8季度趋势，按日历期对齐
经营现金流DECKMKL
| Q4 25 | $1.0B | $662.2M | ||
| Q3 25 | $8.1M | $1.2B | ||
| Q2 25 | $36.1M | $504.4M | ||
| Q1 25 | $-73.0M | $376.2M | ||
| Q4 24 | $1.1B | $493.9M | ||
| Q3 24 | $-90.5M | $890.8M | ||
| Q2 24 | $112.7M | $578.6M | ||
| Q1 24 | $-28.7M | $630.7M |
自由现金流DECKMKL
| Q4 25 | $1.0B | $599.1M | ||
| Q3 25 | $-13.9M | $1.2B | ||
| Q2 25 | $12.2M | $453.8M | ||
| Q1 25 | $-89.4M | $335.5M | ||
| Q4 24 | $1.1B | $420.0M | ||
| Q3 24 | $-113.4M | $838.9M | ||
| Q2 24 | $90.1M | $521.4M | ||
| Q1 24 | $-44.0M | $558.7M |
自由现金流率DECKMKL
| Q4 25 | 52.1% | 16.7% | ||
| Q3 25 | -1.0% | 29.6% | ||
| Q2 25 | 1.3% | 9.9% | ||
| Q1 25 | -8.8% | 9.9% | ||
| Q4 24 | 58.6% | 10.9% | ||
| Q3 24 | -8.6% | 18.2% | ||
| Q2 24 | 10.9% | 14.1% | ||
| Q1 24 | -4.6% | 12.5% |
资本支出强度DECKMKL
| Q4 25 | 1.1% | 1.8% | ||
| Q3 25 | 1.5% | 1.3% | ||
| Q2 25 | 2.5% | 1.1% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 1.3% | 1.9% | ||
| Q3 24 | 1.7% | 1.1% | ||
| Q2 24 | 2.7% | 1.5% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率DECKMKL
| Q4 25 | 2.17× | 1.15× | ||
| Q3 25 | 0.03× | 1.62× | ||
| Q2 25 | 0.26× | 0.77× | ||
| Q1 25 | -0.48× | 3.09× | ||
| Q4 24 | 2.40× | 0.90× | ||
| Q3 24 | -0.37× | 0.98× | ||
| Q2 24 | 0.97× | 2.16× | ||
| Q1 24 | -0.22× | 0.62× |
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% |
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
