vs
Deckers Brands（DECK）与希悦尔（SEE）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是希悦尔的1.4倍（$2.0B vs $1.4B），Deckers Brands净利率更高（24.6% vs 3.1%，领先21.4%），Deckers Brands同比增速更快（7.1% vs 2.6%），Deckers Brands自由现金流更多（$1.0B vs $257.7M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 2.7%）
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。
希悦尔是全球领先的包装与防护解决方案供应商，核心产品包括缓冲防护材料、食品保鲜包装、可持续减废包装系统，服务覆盖电商、零售、食品饮料、工业制造等多个海内外领域。
DECK vs SEE — 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
DECK
高出4.5%
2.6%
净利率更高
DECK
高出21.4%
3.1%
自由现金流更多
DECK
多$762.6M
$257.7M
两年增速更快
DECK
近两年复合增速
2.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.4B |
| 净利润 | $481.1M | $43.8M |
| 毛利率 | 59.8% | 28.6% |
| 营业利润率 | 31.4% | 11.4% |
| 净利率 | 24.6% | 3.1% |
| 营收同比 | 7.1% | 2.6% |
| 净利润同比 | 5.3% | 700.0% |
| 每股收益（稀释后） | $3.33 | $0.30 |
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DECKSEE
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $964.5M | $1.3B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $825.3M | $1.3B | ||
| Q1 24 | $959.8M | $1.3B |
净利润DECKSEE
| Q4 25 | $481.1M | $43.8M | ||
| Q3 25 | $268.2M | $255.1M | ||
| Q2 25 | $139.2M | $93.1M | ||
| Q1 25 | $151.4M | $113.5M | ||
| Q4 24 | $456.7M | $-7.3M | ||
| Q3 24 | $242.3M | $91.7M | ||
| Q2 24 | $115.6M | $98.3M | ||
| Q1 24 | $127.5M | $82.0M |
毛利率DECKSEE
| Q4 25 | 59.8% | 28.6% | ||
| Q3 25 | 56.2% | 29.8% | ||
| Q2 25 | 55.8% | 30.7% | ||
| Q1 25 | 56.7% | 30.9% | ||
| Q4 24 | 60.3% | 30.0% | ||
| Q3 24 | 55.9% | 30.1% | ||
| Q2 24 | 56.9% | 31.2% | ||
| Q1 24 | 56.2% | 30.3% |
营业利润率DECKSEE
| Q4 25 | 31.4% | 11.4% | ||
| Q3 25 | 22.8% | 13.8% | ||
| Q2 25 | 17.1% | 15.0% | ||
| Q1 25 | 17.0% | 14.5% | ||
| Q4 24 | 31.0% | 11.7% | ||
| Q3 24 | 23.3% | 13.9% | ||
| Q2 24 | 16.1% | 15.4% | ||
| Q1 24 | 15.0% | 14.0% |
净利率DECKSEE
| Q4 25 | 24.6% | 3.1% | ||
| Q3 25 | 18.7% | 19.0% | ||
| Q2 25 | 14.4% | 7.0% | ||
| Q1 25 | 14.8% | 9.0% | ||
| Q4 24 | 25.0% | -0.5% | ||
| Q3 24 | 18.5% | 6.9% | ||
| Q2 24 | 14.0% | 7.4% | ||
| Q1 24 | 13.3% | 6.2% |
每股收益（稀释后）DECKSEE
| Q4 25 | $3.33 | $0.30 | ||
| Q3 25 | $1.82 | $1.73 | ||
| Q2 25 | $0.93 | $0.63 | ||
| Q1 25 | $-2.78 | $0.77 | ||
| Q4 24 | $3.00 | $-0.05 | ||
| Q3 24 | $1.59 | $0.63 | ||
| Q2 24 | $4.52 | $0.67 | ||
| Q1 24 | $4.82 | $0.56 |
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 | $344.0M |
| 总债务越低越好 | — | $3.3B |
| 股东权益账面价值 | $2.6B | $1.2B |
| 总资产 | $4.1B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 2.65× |
8季度趋势，按日历期对齐
现金及短期投资DECKSEE
| Q4 25 | $2.1B | $344.0M | ||
| Q3 25 | $1.4B | $282.5M | ||
| Q2 25 | $1.7B | $354.4M | ||
| Q1 25 | $1.9B | $335.2M | ||
| Q4 24 | $2.2B | $371.8M | ||
| Q3 24 | $1.2B | $386.0M | ||
| Q2 24 | $1.4B | $388.6M | ||
| Q1 24 | $1.5B | $352.8M |
总债务DECKSEE
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.5B |
股东权益DECKSEE
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.5B | $1.2B | ||
| Q2 25 | $2.5B | $953.1M | ||
| Q1 25 | $2.5B | $797.9M | ||
| Q4 24 | $2.6B | $624.5M | ||
| Q3 24 | $2.2B | $771.2M | ||
| Q2 24 | $2.1B | $650.1M | ||
| Q1 24 | $2.1B | $598.3M |
总资产DECKSEE
| Q4 25 | $4.1B | $7.0B | ||
| Q3 25 | $3.8B | $7.1B | ||
| Q2 25 | $3.8B | $7.2B | ||
| Q1 25 | $3.6B | $7.0B | ||
| Q4 24 | $4.0B | $7.0B | ||
| Q3 24 | $3.4B | $7.3B | ||
| Q2 24 | $3.3B | $7.3B | ||
| Q1 24 | $3.1B | $7.2B |
负债/权益比DECKSEE
| Q4 25 | — | 2.65× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 4.18× | ||
| Q1 25 | — | 5.26× | ||
| Q4 24 | — | 6.72× | ||
| Q3 24 | — | 5.62× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 7.49× |
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 | $293.6M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $257.7M |
| 自由现金流率自由现金流/营收 | 52.1% | 18.5% |
| 资本支出强度资本支出/营收 | 1.1% | 2.6% |
| 现金转化率经营现金流/净利润 | 2.17× | 6.70× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $458.5M |
8季度趋势，按日历期对齐
经营现金流DECKSEE
| Q4 25 | $1.0B | $293.6M | ||
| Q3 25 | $8.1M | $165.9M | ||
| Q2 25 | $36.1M | $136.6M | ||
| Q1 25 | $-73.0M | $31.9M | ||
| Q4 24 | $1.1B | $244.2M | ||
| Q3 24 | $-90.5M | $170.5M | ||
| Q2 24 | $112.7M | $188.2M | ||
| Q1 24 | $-28.7M | $125.1M |
自由现金流DECKSEE
| Q4 25 | $1.0B | $257.7M | ||
| Q3 25 | $-13.9M | $119.6M | ||
| Q2 25 | $12.2M | $93.2M | ||
| Q1 25 | $-89.4M | $-12.0M | ||
| Q4 24 | $1.1B | $185.1M | ||
| Q3 24 | $-113.4M | $115.2M | ||
| Q2 24 | $90.1M | $129.5M | ||
| Q1 24 | $-44.0M | $78.0M |
自由现金流率DECKSEE
| Q4 25 | 52.1% | 18.5% | ||
| Q3 25 | -1.0% | 8.9% | ||
| Q2 25 | 1.3% | 7.0% | ||
| Q1 25 | -8.8% | -0.9% | ||
| Q4 24 | 58.6% | 13.6% | ||
| Q3 24 | -8.6% | 8.6% | ||
| Q2 24 | 10.9% | 9.7% | ||
| Q1 24 | -4.6% | 5.9% |
资本支出强度DECKSEE
| Q4 25 | 1.1% | 2.6% | ||
| Q3 25 | 1.5% | 3.4% | ||
| Q2 25 | 2.5% | 3.3% | ||
| Q1 25 | 1.6% | 3.5% | ||
| Q4 24 | 1.3% | 4.4% | ||
| Q3 24 | 1.7% | 4.1% | ||
| Q2 24 | 2.7% | 4.4% | ||
| Q1 24 | 1.6% | 3.6% |
现金转化率DECKSEE
| Q4 25 | 2.17× | 6.70× | ||
| Q3 25 | 0.03× | 0.65× | ||
| Q2 25 | 0.26× | 1.47× | ||
| Q1 25 | -0.48× | 0.28× | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | 1.86× | ||
| Q2 24 | 0.97× | 1.91× | ||
| Q1 24 | -0.22× | 1.53× |
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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
