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Deckers Brands（DECK）与Paychex（PAYX）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Paychex的1.3倍（$2.0B vs $1.5B），Paychex净利率更高（26.3% vs 24.6%，领先1.7%），Paychex同比增速更快（17.4% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $382.8M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 3.8%）
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。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
DECK vs PAYX — 直观对比
营收规模更大
DECK
是对方的1.3倍
$1.5B
营收增速更快
PAYX
高出10.2%
7.1%
净利率更高
PAYX
高出1.7%
24.6%
自由现金流更多
DECK
多$637.5M
$382.8M
两年增速更快
DECK
近两年复合增速
3.8%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.5B |
| 净利润 | $481.1M | $395.4M |
| 毛利率 | 59.8% | 72.6% |
| 营业利润率 | 31.4% | 38.0% |
| 净利率 | 24.6% | 26.3% |
| 营收同比 | 7.1% | 17.4% |
| 净利润同比 | 5.3% | -4.4% |
| 每股收益（稀释后） | $3.33 | $1.10 |
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DECKPAYX
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $964.5M | $1.4B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $825.3M | $1.3B | ||
| Q1 24 | $959.8M | $1.4B |
净利润DECKPAYX
| Q4 25 | $481.1M | $395.4M | ||
| Q3 25 | $268.2M | $383.8M | ||
| Q2 25 | $139.2M | $297.2M | ||
| Q1 25 | $151.4M | $519.3M | ||
| Q4 24 | $456.7M | $413.4M | ||
| Q3 24 | $242.3M | $427.4M | ||
| Q2 24 | $115.6M | $379.9M | ||
| Q1 24 | $127.5M | $498.6M |
毛利率DECKPAYX
| Q4 25 | 59.8% | 72.6% | ||
| Q3 25 | 56.2% | 72.3% | ||
| Q2 25 | 55.8% | 71.5% | ||
| Q1 25 | 56.7% | 73.6% | ||
| Q4 24 | 60.3% | 70.4% | ||
| Q3 24 | 55.9% | 70.3% | ||
| Q2 24 | 56.9% | 70.1% | ||
| Q1 24 | 56.2% | 72.8% |
营业利润率DECKPAYX
| Q4 25 | 31.4% | 38.0% | ||
| Q3 25 | 22.8% | 36.3% | ||
| Q2 25 | 17.1% | 31.2% | ||
| Q1 25 | 17.0% | 47.2% | ||
| Q4 24 | 31.0% | 42.0% | ||
| Q3 24 | 23.3% | 42.7% | ||
| Q2 24 | 16.1% | 38.3% | ||
| Q1 24 | 15.0% | 46.6% |
净利率DECKPAYX
| Q4 25 | 24.6% | 26.3% | ||
| Q3 25 | 18.7% | 25.7% | ||
| Q2 25 | 14.4% | 21.5% | ||
| Q1 25 | 14.8% | 35.4% | ||
| Q4 24 | 25.0% | 32.3% | ||
| Q3 24 | 18.5% | 33.4% | ||
| Q2 24 | 14.0% | 30.2% | ||
| Q1 24 | 13.3% | 35.7% |
每股收益（稀释后）DECKPAYX
| Q4 25 | $3.33 | $1.10 | ||
| Q3 25 | $1.82 | $1.06 | ||
| Q2 25 | $0.93 | $0.83 | ||
| Q1 25 | $-2.78 | $1.43 | ||
| Q4 24 | $3.00 | $1.14 | ||
| Q3 24 | $1.59 | $1.18 | ||
| Q2 24 | $4.52 | $1.05 | ||
| Q1 24 | $4.82 | $1.38 |
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 | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $2.6B | $3.9B |
| 总资产 | $4.1B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资DECKPAYX
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.5B | $1.7B |
总债务DECKPAYX
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $798.6M | ||
| Q1 24 | — | — |
股东权益DECKPAYX
| Q4 25 | $2.6B | $3.9B | ||
| Q3 25 | $2.5B | $4.0B | ||
| Q2 25 | $2.5B | $4.1B | ||
| Q1 25 | $2.5B | $4.1B | ||
| Q4 24 | $2.6B | $3.9B | ||
| Q3 24 | $2.2B | $3.9B | ||
| Q2 24 | $2.1B | $3.8B | ||
| Q1 24 | $2.1B | $3.7B |
总资产DECKPAYX
| Q4 25 | $4.1B | $16.5B | ||
| Q3 25 | $3.8B | $16.7B | ||
| Q2 25 | $3.8B | $16.6B | ||
| Q1 25 | $3.6B | $11.2B | ||
| Q4 24 | $4.0B | $10.6B | ||
| Q3 24 | $3.4B | $10.5B | ||
| Q2 24 | $3.3B | $10.4B | ||
| Q1 24 | $3.1B | $13.0B |
负债/权益比DECKPAYX
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | — |
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 | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $382.8M |
| 自由现金流率自由现金流/营收 | 52.1% | 25.5% |
| 资本支出强度资本支出/营收 | 1.1% | 4.1% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $2.0B |
8季度趋势，按日历期对齐
经营现金流DECKPAYX
| Q4 25 | $1.0B | $444.9M | ||
| Q3 25 | $8.1M | $718.4M | ||
| Q2 25 | $36.1M | $343.8M | ||
| Q1 25 | $-73.0M | $716.0M | ||
| Q4 24 | $1.1B | $295.0M | ||
| Q3 24 | $-90.5M | $546.1M | ||
| Q2 24 | $112.7M | $221.7M | ||
| Q1 24 | $-28.7M | $671.7M |
自由现金流DECKPAYX
| Q4 25 | $1.0B | $382.8M | ||
| Q3 25 | $-13.9M | $662.5M | ||
| Q2 25 | $12.2M | $283.3M | ||
| Q1 25 | $-89.4M | $667.3M | ||
| Q4 24 | $1.1B | $248.0M | ||
| Q3 24 | $-113.4M | $510.5M | ||
| Q2 24 | $90.1M | $180.4M | ||
| Q1 24 | $-44.0M | $631.0M |
自由现金流率DECKPAYX
| Q4 25 | 52.1% | 25.5% | ||
| Q3 25 | -1.0% | 44.4% | ||
| Q2 25 | 1.3% | 20.5% | ||
| Q1 25 | -8.8% | 45.5% | ||
| Q4 24 | 58.6% | 19.4% | ||
| Q3 24 | -8.6% | 39.9% | ||
| Q2 24 | 10.9% | 14.4% | ||
| Q1 24 | -4.6% | 45.2% |
资本支出强度DECKPAYX
| Q4 25 | 1.1% | 4.1% | ||
| Q3 25 | 1.5% | 3.7% | ||
| Q2 25 | 2.5% | 4.4% | ||
| Q1 25 | 1.6% | 3.3% | ||
| Q4 24 | 1.3% | 3.7% | ||
| Q3 24 | 1.7% | 2.8% | ||
| Q2 24 | 2.7% | 3.3% | ||
| Q1 24 | 1.6% | 2.9% |
现金转化率DECKPAYX
| Q4 25 | 2.17× | 1.13× | ||
| Q3 25 | 0.03× | 1.87× | ||
| Q2 25 | 0.26× | 1.16× | ||
| Q1 25 | -0.48× | 1.38× | ||
| Q4 24 | 2.40× | 0.71× | ||
| Q3 24 | -0.37× | 1.28× | ||
| Q2 24 | 0.97× | 0.58× | ||
| Q1 24 | -0.22× | 1.35× |
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% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
