vs
Deckers Brands（DECK）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是Deckers Brands的1.9倍（$3.7B vs $2.0B），Deckers Brands净利率更高（24.6% vs 20.2%，领先4.3%），SHOPIFY INC.同比增速更快（30.6% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $715.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 40.5%）
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。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
DECK vs SHOP — 直观对比
营收规模更大
SHOP
是对方的1.9倍
$2.0B
营收增速更快
SHOP
高出23.4%
7.1%
净利率更高
DECK
高出4.3%
20.2%
自由现金流更多
DECK
多$305.3M
$715.0M
两年增速更快
DECK
近两年复合增速
40.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $3.7B |
| 净利润 | $481.1M | $743.0M |
| 毛利率 | 59.8% | 46.1% |
| 营业利润率 | 31.4% | 17.2% |
| 净利率 | 24.6% | 20.2% |
| 营收同比 | 7.1% | 30.6% |
| 净利润同比 | 5.3% | -42.5% |
| 每股收益（稀释后） | $3.33 | $0.58 |
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DECKSHOP
| Q4 25 | $2.0B | $3.7B | ||
| Q3 25 | $1.4B | $2.8B | ||
| Q2 25 | $964.5M | $2.7B | ||
| Q1 25 | $1.0B | $2.4B | ||
| Q4 24 | $1.8B | $2.8B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $825.3M | $2.0B | ||
| Q1 24 | $959.8M | $1.9B |
净利润DECKSHOP
| Q4 25 | $481.1M | $743.0M | ||
| Q3 25 | $268.2M | $264.0M | ||
| Q2 25 | $139.2M | $906.0M | ||
| Q1 25 | $151.4M | $-682.0M | ||
| Q4 24 | $456.7M | $1.3B | ||
| Q3 24 | $242.3M | $828.0M | ||
| Q2 24 | $115.6M | $171.0M | ||
| Q1 24 | $127.5M | $-273.0M |
毛利率DECKSHOP
| Q4 25 | 59.8% | 46.1% | ||
| Q3 25 | 56.2% | 48.9% | ||
| Q2 25 | 55.8% | 48.6% | ||
| Q1 25 | 56.7% | 49.5% | ||
| Q4 24 | 60.3% | 48.1% | ||
| Q3 24 | 55.9% | 51.7% | ||
| Q2 24 | 56.9% | 51.1% | ||
| Q1 24 | 56.2% | 51.4% |
营业利润率DECKSHOP
| Q4 25 | 31.4% | 17.2% | ||
| Q3 25 | 22.8% | 12.1% | ||
| Q2 25 | 17.1% | 10.9% | ||
| Q1 25 | 17.0% | 8.6% | ||
| Q4 24 | 31.0% | 16.5% | ||
| Q3 24 | 23.3% | 13.1% | ||
| Q2 24 | 16.1% | 11.8% | ||
| Q1 24 | 15.0% | 4.6% |
净利率DECKSHOP
| Q4 25 | 24.6% | 20.2% | ||
| Q3 25 | 18.7% | 9.3% | ||
| Q2 25 | 14.4% | 33.8% | ||
| Q1 25 | 14.8% | -28.9% | ||
| Q4 24 | 25.0% | 46.0% | ||
| Q3 24 | 18.5% | 38.3% | ||
| Q2 24 | 14.0% | 8.4% | ||
| Q1 24 | 13.3% | -14.7% |
每股收益（稀释后）DECKSHOP
| Q4 25 | $3.33 | $0.58 | ||
| Q3 25 | $1.82 | $0.20 | ||
| Q2 25 | $0.93 | $0.69 | ||
| Q1 25 | $-2.78 | $-0.53 | ||
| Q4 24 | $3.00 | $0.99 | ||
| Q3 24 | $1.59 | $0.64 | ||
| Q2 24 | $4.52 | $0.13 | ||
| Q1 24 | $4.82 | $-0.21 |
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 | $5.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $13.5B |
| 总资产 | $4.1B | $15.2B |
| 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DECKSHOP
| Q4 25 | $2.1B | $5.8B | ||
| Q3 25 | $1.4B | $6.3B | ||
| Q2 25 | $1.7B | $5.8B | ||
| Q1 25 | $1.9B | $5.5B | ||
| Q4 24 | $2.2B | $5.5B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
股东权益DECKSHOP
| Q4 25 | $2.6B | $13.5B | ||
| Q3 25 | $2.5B | $12.5B | ||
| Q2 25 | $2.5B | $12.1B | ||
| Q1 25 | $2.5B | $11.1B | ||
| Q4 24 | $2.6B | $11.6B | ||
| Q3 24 | $2.2B | $10.1B | ||
| Q2 24 | $2.1B | $9.2B | ||
| Q1 24 | $2.1B | $8.9B |
总资产DECKSHOP
| Q4 25 | $4.1B | $15.2B | ||
| Q3 25 | $3.8B | $15.0B | ||
| Q2 25 | $3.8B | $14.6B | ||
| Q1 25 | $3.6B | $13.4B | ||
| Q4 24 | $4.0B | $13.9B | ||
| 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 | $725.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $715.0M |
| 自由现金流率自由现金流/营收 | 52.1% | 19.5% |
| 资本支出强度资本支出/营收 | 1.1% | 0.3% |
| 现金转化率经营现金流/净利润 | 2.17× | 0.98× |
| 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DECKSHOP
| Q4 25 | $1.0B | $725.0M | ||
| Q3 25 | $8.1M | $513.0M | ||
| Q2 25 | $36.1M | $428.0M | ||
| Q1 25 | $-73.0M | $367.0M | ||
| Q4 24 | $1.1B | $615.0M | ||
| Q3 24 | $-90.5M | $423.0M | ||
| Q2 24 | $112.7M | $340.0M | ||
| Q1 24 | $-28.7M | $238.0M |
自由现金流DECKSHOP
| Q4 25 | $1.0B | $715.0M | ||
| Q3 25 | $-13.9M | $507.0M | ||
| Q2 25 | $12.2M | $422.0M | ||
| Q1 25 | $-89.4M | $363.0M | ||
| Q4 24 | $1.1B | $611.0M | ||
| Q3 24 | $-113.4M | $421.0M | ||
| Q2 24 | $90.1M | $333.0M | ||
| Q1 24 | $-44.0M | $232.0M |
自由现金流率DECKSHOP
| Q4 25 | 52.1% | 19.5% | ||
| Q3 25 | -1.0% | 17.8% | ||
| Q2 25 | 1.3% | 15.7% | ||
| Q1 25 | -8.8% | 15.4% | ||
| Q4 24 | 58.6% | 21.7% | ||
| Q3 24 | -8.6% | 19.5% | ||
| Q2 24 | 10.9% | 16.3% | ||
| Q1 24 | -4.6% | 12.5% |
资本支出强度DECKSHOP
| Q4 25 | 1.1% | 0.3% | ||
| Q3 25 | 1.5% | 0.2% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | 1.6% | 0.2% | ||
| Q4 24 | 1.3% | 0.1% | ||
| Q3 24 | 1.7% | 0.1% | ||
| Q2 24 | 2.7% | 0.3% | ||
| Q1 24 | 1.6% | 0.3% |
现金转化率DECKSHOP
| Q4 25 | 2.17× | 0.98× | ||
| Q3 25 | 0.03× | 1.94× | ||
| Q2 25 | 0.26× | 0.47× | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 2.40× | 0.48× | ||
| Q3 24 | -0.37× | 0.51× | ||
| Q2 24 | 0.97× | 1.99× | ||
| 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% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
