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Deckers Brands（DECK）与Solventum（SOLV）财务数据对比。点击上方公司名可切换其他公司
Solventum的季度营收约是Deckers Brands的1.0倍（$2.0B vs $2.0B），Deckers Brands净利率更高（24.6% vs 3.2%，领先21.4%），Deckers Brands同比增速更快（7.1% vs -3.7%），Deckers Brands自由现金流更多（$1.0B vs $32.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs -0.4%）
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。
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
DECK vs SOLV — 直观对比
营收规模更大
SOLV
是对方的1.0倍
$2.0B
营收增速更快
DECK
高出10.8%
-3.7%
净利率更高
DECK
高出21.4%
3.2%
自由现金流更多
DECK
多$988.3M
$32.0M
两年增速更快
DECK
近两年复合增速
-0.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.0B |
| 净利润 | $481.1M | $63.0M |
| 毛利率 | 59.8% | 51.4% |
| 营业利润率 | 31.4% | 6.3% |
| 净利率 | 24.6% | 3.2% |
| 营收同比 | 7.1% | -3.7% |
| 净利润同比 | 5.3% | 103.2% |
| 每股收益（稀释后） | $3.33 | $0.37 |
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DECKSOLV
| Q4 25 | $2.0B | $2.0B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $964.5M | $2.2B | ||
| Q1 25 | $1.0B | $2.1B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $1.3B | $2.1B | ||
| Q2 24 | $825.3M | $2.1B | ||
| Q1 24 | $959.8M | $2.0B |
净利润DECKSOLV
| Q4 25 | $481.1M | $63.0M | ||
| Q3 25 | $268.2M | $1.3B | ||
| Q2 25 | $139.2M | $90.0M | ||
| Q1 25 | $151.4M | $137.0M | ||
| Q4 24 | $456.7M | $31.0M | ||
| Q3 24 | $242.3M | $122.0M | ||
| Q2 24 | $115.6M | $89.0M | ||
| Q1 24 | $127.5M | $237.0M |
毛利率DECKSOLV
| Q4 25 | 59.8% | 51.4% | ||
| Q3 25 | 56.2% | 54.2% | ||
| Q2 25 | 55.8% | 54.4% | ||
| Q1 25 | 56.7% | 53.8% | ||
| Q4 24 | 60.3% | 53.9% | ||
| Q3 24 | 55.9% | 56.0% | ||
| Q2 24 | 56.9% | 54.6% | ||
| Q1 24 | 56.2% | 58.1% |
营业利润率DECKSOLV
| Q4 25 | 31.4% | 6.3% | ||
| Q3 25 | 22.8% | 80.6% | ||
| Q2 25 | 17.1% | 9.9% | ||
| Q1 25 | 17.0% | 7.3% | ||
| Q4 24 | 31.0% | 6.6% | ||
| Q3 24 | 23.3% | 13.2% | ||
| Q2 24 | 16.1% | 11.7% | ||
| Q1 24 | 15.0% | 18.9% |
净利率DECKSOLV
| Q4 25 | 24.6% | 3.2% | ||
| Q3 25 | 18.7% | 60.4% | ||
| Q2 25 | 14.4% | 4.2% | ||
| Q1 25 | 14.8% | 6.6% | ||
| Q4 24 | 25.0% | 1.5% | ||
| Q3 24 | 18.5% | 5.9% | ||
| Q2 24 | 14.0% | 4.3% | ||
| Q1 24 | 13.3% | 11.8% |
每股收益（稀释后）DECKSOLV
| Q4 25 | $3.33 | $0.37 | ||
| Q3 25 | $1.82 | $7.22 | ||
| Q2 25 | $0.93 | $0.51 | ||
| Q1 25 | $-2.78 | $0.78 | ||
| Q4 24 | $3.00 | $0.18 | ||
| Q3 24 | $1.59 | $0.70 | ||
| Q2 24 | $4.52 | $0.51 | ||
| Q1 24 | $4.82 | $1.37 |
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 | $878.0M |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $2.6B | $5.0B |
| 总资产 | $4.1B | $14.3B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资DECKSOLV
| Q4 25 | $2.1B | $878.0M | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.7B | $492.0M | ||
| Q1 25 | $1.9B | $534.0M | ||
| Q4 24 | $2.2B | $762.0M | ||
| Q3 24 | $1.2B | $772.0M | ||
| Q2 24 | $1.4B | $897.0M | ||
| Q1 24 | $1.5B | $996.0M |
总债务DECKSOLV
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | $8.1B | ||
| Q2 24 | — | $8.3B | ||
| Q1 24 | — | $8.3B |
股东权益DECKSOLV
| Q4 25 | $2.6B | $5.0B | ||
| Q3 25 | $2.5B | $5.0B | ||
| Q2 25 | $2.5B | $3.6B | ||
| Q1 25 | $2.5B | $3.3B | ||
| Q4 24 | $2.6B | $3.0B | ||
| Q3 24 | $2.2B | $3.2B | ||
| Q2 24 | $2.1B | $2.9B | ||
| Q1 24 | $2.1B | $3.9B |
总资产DECKSOLV
| Q4 25 | $4.1B | $14.3B | ||
| Q3 25 | $3.8B | $14.0B | ||
| Q2 25 | $3.8B | $15.1B | ||
| Q1 25 | $3.6B | $14.5B | ||
| Q4 24 | $4.0B | $14.5B | ||
| Q3 24 | $3.4B | $14.7B | ||
| Q2 24 | $3.3B | $14.6B | ||
| Q1 24 | $3.1B | $14.7B |
负债/权益比DECKSOLV
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.03× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 2.43× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 2.90× | ||
| Q1 24 | — | 2.16× |
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 | $95.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $32.0M |
| 自由现金流率自由现金流/营收 | 52.1% | 1.6% |
| 资本支出强度资本支出/营收 | 1.1% | 3.2% |
| 现金转化率经营现金流/净利润 | 2.17× | 1.51× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $-10.0M |
8季度趋势，按日历期对齐
经营现金流DECKSOLV
| Q4 25 | $1.0B | $95.0M | ||
| Q3 25 | $8.1M | $76.0M | ||
| Q2 25 | $36.1M | $169.0M | ||
| Q1 25 | $-73.0M | $29.0M | ||
| Q4 24 | $1.1B | $219.0M | ||
| Q3 24 | $-90.5M | $169.0M | ||
| Q2 24 | $112.7M | $355.0M | ||
| Q1 24 | $-28.7M | $442.0M |
自由现金流DECKSOLV
| Q4 25 | $1.0B | $32.0M | ||
| Q3 25 | $-13.9M | $-21.0M | ||
| Q2 25 | $12.2M | $59.0M | ||
| Q1 25 | $-89.4M | $-80.0M | ||
| Q4 24 | $1.1B | $92.0M | ||
| Q3 24 | $-113.4M | $76.0M | ||
| Q2 24 | $90.1M | $297.0M | ||
| Q1 24 | $-44.0M | $340.0M |
自由现金流率DECKSOLV
| Q4 25 | 52.1% | 1.6% | ||
| Q3 25 | -1.0% | -1.0% | ||
| Q2 25 | 1.3% | 2.7% | ||
| Q1 25 | -8.8% | -3.9% | ||
| Q4 24 | 58.6% | 4.4% | ||
| Q3 24 | -8.6% | 3.7% | ||
| Q2 24 | 10.9% | 14.3% | ||
| Q1 24 | -4.6% | 16.9% |
资本支出强度DECKSOLV
| Q4 25 | 1.1% | 3.2% | ||
| Q3 25 | 1.5% | 4.6% | ||
| Q2 25 | 2.5% | 5.1% | ||
| Q1 25 | 1.6% | 5.3% | ||
| Q4 24 | 1.3% | 6.1% | ||
| Q3 24 | 1.7% | 4.5% | ||
| Q2 24 | 2.7% | 2.8% | ||
| Q1 24 | 1.6% | 5.1% |
现金转化率DECKSOLV
| Q4 25 | 2.17× | 1.51× | ||
| Q3 25 | 0.03× | 0.06× | ||
| Q2 25 | 0.26× | 1.88× | ||
| Q1 25 | -0.48× | 0.21× | ||
| Q4 24 | 2.40× | 7.06× | ||
| Q3 24 | -0.37× | 1.39× | ||
| Q2 24 | 0.97× | 3.99× | ||
| Q1 24 | -0.22× | 1.86× |
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% |
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
