vs
Deckers Brands（DECK）与Meritage Homes CORP（MTH）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Meritage Homes CORP的1.4倍（$2.0B vs $1.4B），Deckers Brands净利率更高（24.6% vs 17.7%，领先6.9%），Meritage Homes CORP同比增速更快（10.5% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $-225.4M）
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。
Meritage Homes Corporation是美国上市房地产开发企业，主营全美范围内各类独栋住宅建造业务，按2023年房屋销量计算为美国第五大住宅建筑商，同时在亚利桑那州开发活跃长者社区及高端地产项目。
DECK vs MTH — 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
MTH
高出3.4%
7.1%
净利率更高
DECK
高出6.9%
17.7%
自由现金流更多
DECK
多$1.2B
$-225.4M
损益表 — Q3 FY2026 vs Q2 FY2022
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.4B |
| 净利润 | $481.1M | $250.1M |
| 毛利率 | 59.8% | 31.5% |
| 营业利润率 | 31.4% | 23.5% |
| 净利率 | 24.6% | 17.7% |
| 营收同比 | 7.1% | 10.5% |
| 净利润同比 | 5.3% | 49.4% |
| 每股收益（稀释后） | $3.33 | $6.77 |
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DECKMTH
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $964.5M | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $825.3M | — | ||
| Q1 24 | $959.8M | — |
净利润DECKMTH
| Q4 25 | $481.1M | — | ||
| Q3 25 | $268.2M | — | ||
| Q2 25 | $139.2M | — | ||
| Q1 25 | $151.4M | — | ||
| Q4 24 | $456.7M | — | ||
| Q3 24 | $242.3M | — | ||
| Q2 24 | $115.6M | — | ||
| Q1 24 | $127.5M | — |
毛利率DECKMTH
| 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DECKMTH
| Q4 25 | 31.4% | — | ||
| Q3 25 | 22.8% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 23.3% | — | ||
| Q2 24 | 16.1% | — | ||
| Q1 24 | 15.0% | — |
净利率DECKMTH
| Q4 25 | 24.6% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 14.4% | — | ||
| Q1 25 | 14.8% | — | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 18.5% | — | ||
| Q2 24 | 14.0% | — | ||
| Q1 24 | 13.3% | — |
每股收益（稀释后）DECKMTH
| 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 | $272.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $3.4B |
| 总资产 | $4.1B | $5.3B |
| 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DECKMTH
| 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DECKMTH
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.1B | — | ||
| Q1 24 | $2.1B | — |
总资产DECKMTH
| Q4 25 | $4.1B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | $3.1B | — |
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 | $-219.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-225.4M |
| 自由现金流率自由现金流/营收 | 52.1% | -16.0% |
| 资本支出强度资本支出/营收 | 1.1% | 0.5% |
| 现金转化率经营现金流/净利润 | 2.17× | -0.88× |
| 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DECKMTH
| 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DECKMTH
| 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DECKMTH
| 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DECKMTH
| 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DECKMTH
| 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% |
MTH
| Home Building | $1.4B | 100% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $9.8M | 1% |
| Financial Service | $5.1M | 0% |
| Land Closing | $3.4M | 0% |
