vs
Deckers Brands（DECK）与新美亚（SANM）财务数据对比。点击上方公司名可切换其他公司
新美亚的季度营收约是Deckers Brands的1.6倍（$3.2B vs $2.0B），Deckers Brands净利率更高（24.6% vs 1.5%，领先23.0%），新美亚同比增速更快（59.0% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $91.9M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 31.9%）
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。
新美亚公司是总部位于美国加利福尼亚州圣何塞的电子制造服务（EMS）提供商，服务通信、计算机硬件领域的原始设备制造商（OEM）。集团拥有近80个生产基地，是全球规模最大的印刷电路板和背板独立制造商之一，2022年位列《财富》世界500强第482位。
DECK vs SANM — 直观对比
营收规模更大
SANM
是对方的1.6倍
$2.0B
营收增速更快
SANM
高出51.8%
7.1%
净利率更高
DECK
高出23.0%
1.5%
自由现金流更多
DECK
多$928.4M
$91.9M
两年增速更快
DECK
近两年复合增速
31.9%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $3.2B |
| 净利润 | $481.1M | $49.3M |
| 毛利率 | 59.8% | 7.6% |
| 营业利润率 | 31.4% | 2.3% |
| 净利率 | 24.6% | 1.5% |
| 营收同比 | 7.1% | 59.0% |
| 净利润同比 | 5.3% | -24.2% |
| 每股收益（稀释后） | $3.33 | $0.89 |
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DECKSANM
| Q4 25 | $2.0B | $3.2B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $964.5M | $2.0B | ||
| Q1 25 | $1.0B | $2.0B | ||
| Q4 24 | $1.8B | $2.0B | ||
| Q3 24 | $1.3B | $2.0B | ||
| Q2 24 | $825.3M | $1.8B | ||
| Q1 24 | $959.8M | $1.8B |
净利润DECKSANM
| Q4 25 | $481.1M | $49.3M | ||
| Q3 25 | $268.2M | $48.1M | ||
| Q2 25 | $139.2M | $68.6M | ||
| Q1 25 | $151.4M | $64.2M | ||
| Q4 24 | $456.7M | $65.0M | ||
| Q3 24 | $242.3M | $61.4M | ||
| Q2 24 | $115.6M | $51.6M | ||
| Q1 24 | $127.5M | $52.5M |
毛利率DECKSANM
| Q4 25 | 59.8% | 7.6% | ||
| Q3 25 | 56.2% | 9.1% | ||
| Q2 25 | 55.8% | 8.9% | ||
| Q1 25 | 56.7% | 8.9% | ||
| Q4 24 | 60.3% | 8.4% | ||
| Q3 24 | 55.9% | 8.5% | ||
| Q2 24 | 56.9% | 8.3% | ||
| Q1 24 | 56.2% | 8.4% |
营业利润率DECKSANM
| Q4 25 | 31.4% | 2.3% | ||
| Q3 25 | 22.8% | 3.7% | ||
| Q2 25 | 17.1% | 4.7% | ||
| Q1 25 | 17.0% | 4.6% | ||
| Q4 24 | 31.0% | 4.4% | ||
| Q3 24 | 23.3% | 4.4% | ||
| Q2 24 | 16.1% | 4.5% | ||
| Q1 24 | 15.0% | 4.1% |
净利率DECKSANM
| Q4 25 | 24.6% | 1.5% | ||
| Q3 25 | 18.7% | 2.3% | ||
| Q2 25 | 14.4% | 3.4% | ||
| Q1 25 | 14.8% | 3.2% | ||
| Q4 24 | 25.0% | 3.2% | ||
| Q3 24 | 18.5% | 3.0% | ||
| Q2 24 | 14.0% | 2.8% | ||
| Q1 24 | 13.3% | 2.9% |
每股收益（稀释后）DECKSANM
| Q4 25 | $3.33 | $0.89 | ||
| Q3 25 | $1.82 | $0.88 | ||
| Q2 25 | $0.93 | $1.26 | ||
| Q1 25 | $-2.78 | $1.16 | ||
| Q4 24 | $3.00 | $1.16 | ||
| Q3 24 | $1.59 | $1.09 | ||
| Q2 24 | $4.52 | $0.91 | ||
| Q1 24 | $4.82 | $0.93 |
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 | $1.4B |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $2.6B | $2.7B |
| 总资产 | $4.1B | $9.8B |
| 负债/权益比越低杠杆越低 | — | 0.82× |
8季度趋势，按日历期对齐
现金及短期投资DECKSANM
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $1.4B | $926.3M | ||
| Q2 25 | $1.7B | $797.9M | ||
| Q1 25 | $1.9B | $647.1M | ||
| Q4 24 | $2.2B | $642.4M | ||
| Q3 24 | $1.2B | $625.9M | ||
| Q2 24 | $1.4B | $657.7M | ||
| Q1 24 | $1.5B | $650.9M |
总债务DECKSANM
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $300.5M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DECKSANM
| Q4 25 | $2.6B | $2.7B | ||
| Q3 25 | $2.5B | $2.5B | ||
| Q2 25 | $2.5B | $2.5B | ||
| Q1 25 | $2.5B | $2.4B | ||
| Q4 24 | $2.6B | $2.4B | ||
| Q3 24 | $2.2B | $2.4B | ||
| Q2 24 | $2.1B | $2.3B | ||
| Q1 24 | $2.1B | $2.3B |
总资产DECKSANM
| Q4 25 | $4.1B | $9.8B | ||
| Q3 25 | $3.8B | $5.9B | ||
| Q2 25 | $3.8B | $5.2B | ||
| Q1 25 | $3.6B | $5.0B | ||
| Q4 24 | $4.0B | $4.8B | ||
| Q3 24 | $3.4B | $4.8B | ||
| Q2 24 | $3.3B | $4.7B | ||
| Q1 24 | $3.1B | $4.7B |
负债/权益比DECKSANM
| Q4 25 | — | 0.82× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $178.7M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $91.9M |
| 自由现金流率自由现金流/营收 | 52.1% | 2.9% |
| 资本支出强度资本支出/营收 | 1.1% | 2.7% |
| 现金转化率经营现金流/净利润 | 2.17× | 3.63× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $518.3M |
8季度趋势，按日历期对齐
经营现金流DECKSANM
| Q4 25 | $1.0B | $178.7M | ||
| Q3 25 | $8.1M | $199.1M | ||
| Q2 25 | $36.1M | $200.8M | ||
| Q1 25 | $-73.0M | $156.9M | ||
| Q4 24 | $1.1B | $63.9M | ||
| Q3 24 | $-90.5M | $51.9M | ||
| Q2 24 | $112.7M | $90.0M | ||
| Q1 24 | $-28.7M | $72.3M |
自由现金流DECKSANM
| Q4 25 | $1.0B | $91.9M | ||
| Q3 25 | $-13.9M | $136.6M | ||
| Q2 25 | $12.2M | $163.7M | ||
| Q1 25 | $-89.4M | $126.1M | ||
| Q4 24 | $1.1B | $46.9M | ||
| Q3 24 | $-113.4M | $27.2M | ||
| Q2 24 | $90.1M | $67.2M | ||
| Q1 24 | $-44.0M | $42.7M |
自由现金流率DECKSANM
| Q4 25 | 52.1% | 2.9% | ||
| Q3 25 | -1.0% | 6.5% | ||
| Q2 25 | 1.3% | 8.0% | ||
| Q1 25 | -8.8% | 6.4% | ||
| Q4 24 | 58.6% | 2.3% | ||
| Q3 24 | -8.6% | 1.4% | ||
| Q2 24 | 10.9% | 3.7% | ||
| Q1 24 | -4.6% | 2.3% |
资本支出强度DECKSANM
| Q4 25 | 1.1% | 2.7% | ||
| Q3 25 | 1.5% | 3.0% | ||
| Q2 25 | 2.5% | 1.8% | ||
| Q1 25 | 1.6% | 1.5% | ||
| Q4 24 | 1.3% | 0.9% | ||
| Q3 24 | 1.7% | 1.2% | ||
| Q2 24 | 2.7% | 1.2% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率DECKSANM
| Q4 25 | 2.17× | 3.63× | ||
| Q3 25 | 0.03× | 4.14× | ||
| Q2 25 | 0.26× | 2.93× | ||
| Q1 25 | -0.48× | 2.44× | ||
| Q4 24 | 2.40× | 0.98× | ||
| Q3 24 | -0.37× | 0.85× | ||
| Q2 24 | 0.97× | 1.74× | ||
| Q1 24 | -0.22× | 1.38× |
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% |
SANM
| Industrial And Energy Medical Defense And Aerospace And Automotive And Transportation | $1.2B | 38% |
| ZT Systems | $1.1B | 34% |
| Other Segments CPS | $434.3M | 14% |
| CPS Third Party Revenue | $412.7M | 13% |
| Change In Accounting Method Accounted For As Change In Estimate | $2.7M | 0% |
