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Deckers Brands（DECK）与Snap Inc（SNAP）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Snap Inc的1.1倍（$2.0B vs $1.7B），Deckers Brands净利率更高（24.6% vs 2.6%，领先21.9%），Snap Inc同比增速更快（10.2% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $205.6M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 19.9%）
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。
Snap Inc.是一家美国科技企业，2011年9月16日由埃文·斯皮格尔、鲍比·墨菲和雷吉·布朗联合创立，总部位于加利福尼亚州圣莫尼卡。公司核心产品包括社交应用Snapchat、智能眼镜Spectacles、虚拟形象工具Bitmoji以及营销推广解决方案SnapBoost，2016年9月24日由原Snapchat Inc.更名为现名，覆盖社交、智能硬件等多元业务领域。
DECK vs SNAP — 直观对比
营收规模更大
DECK
是对方的1.1倍
$1.7B
营收增速更快
SNAP
高出3.1%
7.1%
净利率更高
DECK
高出21.9%
2.6%
自由现金流更多
DECK
多$814.7M
$205.6M
两年增速更快
DECK
近两年复合增速
19.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.7B |
| 净利润 | $481.1M | $45.2M |
| 毛利率 | 59.8% | 59.1% |
| 营业利润率 | 31.4% | 2.9% |
| 净利率 | 24.6% | 2.6% |
| 营收同比 | 7.1% | 10.2% |
| 净利润同比 | 5.3% | 396.7% |
| 每股收益（稀释后） | $3.33 | $0.03 |
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DECKSNAP
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $964.5M | $1.3B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $825.3M | $1.2B | ||
| Q1 24 | $959.8M | $1.2B |
净利润DECKSNAP
| Q4 25 | $481.1M | $45.2M | ||
| Q3 25 | $268.2M | $-103.5M | ||
| Q2 25 | $139.2M | $-262.6M | ||
| Q1 25 | $151.4M | $-139.6M | ||
| Q4 24 | $456.7M | $9.1M | ||
| Q3 24 | $242.3M | $-153.2M | ||
| Q2 24 | $115.6M | $-248.6M | ||
| Q1 24 | $127.5M | $-305.1M |
毛利率DECKSNAP
| Q4 25 | 59.8% | 59.1% | ||
| Q3 25 | 56.2% | 55.3% | ||
| Q2 25 | 55.8% | 51.4% | ||
| Q1 25 | 56.7% | 53.1% | ||
| Q4 24 | 60.3% | 56.9% | ||
| Q3 24 | 55.9% | 53.5% | ||
| Q2 24 | 56.9% | 52.4% | ||
| Q1 24 | 56.2% | 51.9% |
营业利润率DECKSNAP
| Q4 25 | 31.4% | 2.9% | ||
| Q3 25 | 22.8% | -8.5% | ||
| Q2 25 | 17.1% | -19.3% | ||
| Q1 25 | 17.0% | -14.2% | ||
| Q4 24 | 31.0% | -1.7% | ||
| Q3 24 | 23.3% | -12.6% | ||
| Q2 24 | 16.1% | -20.5% | ||
| Q1 24 | 15.0% | -27.9% |
净利率DECKSNAP
| Q4 25 | 24.6% | 2.6% | ||
| Q3 25 | 18.7% | -6.9% | ||
| Q2 25 | 14.4% | -19.5% | ||
| Q1 25 | 14.8% | -10.2% | ||
| Q4 24 | 25.0% | 0.6% | ||
| Q3 24 | 18.5% | -11.2% | ||
| Q2 24 | 14.0% | -20.1% | ||
| Q1 24 | 13.3% | -25.5% |
每股收益（稀释后）DECKSNAP
| Q4 25 | $3.33 | $0.03 | ||
| Q3 25 | $1.82 | $-0.06 | ||
| Q2 25 | $0.93 | $-0.16 | ||
| Q1 25 | $-2.78 | $-0.08 | ||
| Q4 24 | $3.00 | $0.01 | ||
| Q3 24 | $1.59 | $-0.09 | ||
| Q2 24 | $4.52 | $-0.15 | ||
| Q1 24 | $4.82 | $-0.19 |
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 | $2.9B |
| 总债务越低越好 | — | $3.5B |
| 股东权益账面价值 | $2.6B | $2.3B |
| 总资产 | $4.1B | $7.7B |
| 负债/权益比越低杠杆越低 | — | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资DECKSNAP
| Q4 25 | $2.1B | $2.9B | ||
| Q3 25 | $1.4B | $3.0B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.9B | $3.2B | ||
| Q4 24 | $2.2B | $3.4B | ||
| Q3 24 | $1.2B | $3.2B | ||
| Q2 24 | $1.4B | $3.1B | ||
| Q1 24 | $1.5B | $2.9B |
总债务DECKSNAP
| Q4 25 | — | $3.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $3.6B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.3B |
股东权益DECKSNAP
| Q4 25 | $2.6B | $2.3B | ||
| Q3 25 | $2.5B | $2.2B | ||
| Q2 25 | $2.5B | $2.1B | ||
| Q1 25 | $2.5B | $2.3B | ||
| Q4 24 | $2.6B | $2.5B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $2.1B | $2.1B | ||
| Q1 24 | $2.1B | $2.1B |
总资产DECKSNAP
| Q4 25 | $4.1B | $7.7B | ||
| Q3 25 | $3.8B | $7.6B | ||
| Q2 25 | $3.8B | $7.4B | ||
| Q1 25 | $3.6B | $7.6B | ||
| Q4 24 | $4.0B | $7.9B | ||
| Q3 24 | $3.4B | $7.6B | ||
| Q2 24 | $3.3B | $7.4B | ||
| Q1 24 | $3.1B | $7.2B |
负债/权益比DECKSNAP
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | 1.65× | ||
| Q2 24 | — | 1.76× | ||
| Q1 24 | — | 1.55× |
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 | $269.6M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $205.6M |
| 自由现金流率自由现金流/营收 | 52.1% | 12.0% |
| 资本支出强度资本支出/营收 | 1.1% | 3.7% |
| 现金转化率经营现金流/净利润 | 2.17× | 5.96× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $437.2M |
8季度趋势，按日历期对齐
经营现金流DECKSNAP
| Q4 25 | $1.0B | $269.6M | ||
| Q3 25 | $8.1M | $146.5M | ||
| Q2 25 | $36.1M | $88.5M | ||
| Q1 25 | $-73.0M | $151.6M | ||
| Q4 24 | $1.1B | $230.6M | ||
| Q3 24 | $-90.5M | $115.9M | ||
| Q2 24 | $112.7M | $-21.4M | ||
| Q1 24 | $-28.7M | $88.4M |
自由现金流DECKSNAP
| Q4 25 | $1.0B | $205.6M | ||
| Q3 25 | $-13.9M | $93.4M | ||
| Q2 25 | $12.2M | $23.8M | ||
| Q1 25 | $-89.4M | $114.4M | ||
| Q4 24 | $1.1B | $182.4M | ||
| Q3 24 | $-113.4M | $71.8M | ||
| Q2 24 | $90.1M | $-73.4M | ||
| Q1 24 | $-44.0M | $37.9M |
自由现金流率DECKSNAP
| Q4 25 | 52.1% | 12.0% | ||
| Q3 25 | -1.0% | 6.2% | ||
| Q2 25 | 1.3% | 1.8% | ||
| Q1 25 | -8.8% | 8.4% | ||
| Q4 24 | 58.6% | 11.7% | ||
| Q3 24 | -8.6% | 5.2% | ||
| Q2 24 | 10.9% | -5.9% | ||
| Q1 24 | -4.6% | 3.2% |
资本支出强度DECKSNAP
| Q4 25 | 1.1% | 3.7% | ||
| Q3 25 | 1.5% | 3.5% | ||
| Q2 25 | 2.5% | 4.8% | ||
| Q1 25 | 1.6% | 2.7% | ||
| Q4 24 | 1.3% | 3.1% | ||
| Q3 24 | 1.7% | 3.2% | ||
| Q2 24 | 2.7% | 4.2% | ||
| Q1 24 | 1.6% | 4.2% |
现金转化率DECKSNAP
| Q4 25 | 2.17× | 5.96× | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 2.40× | 25.34× | ||
| 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% |
SNAP
| Advertising Revenue | $1.5B | 86% |
| Other Revenue | $231.9M | 14% |
