vs
Deckers Brands（DECK）与西蒙地产集团（SPG）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是西蒙地产集团的1.1倍（$2.0B vs $1.8B），西蒙地产集团净利率更高（197.6% vs 24.6%，领先173.0%），西蒙地产集团同比增速更快（13.2% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $948.8M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 11.4%）
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。
西蒙地产集团是美国头部房地产投资信托企业，核心投资范畴涵盖购物中心、奥特莱斯、社区及生活方式中心，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业的相关权益。
DECK vs SPG — 直观对比
营收规模更大
DECK
是对方的1.1倍
$1.8B
营收增速更快
SPG
高出6.1%
7.1%
净利率更高
SPG
高出173.0%
24.6%
自由现金流更多
DECK
多$71.4M
$948.8M
两年增速更快
DECK
近两年复合增速
11.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.8B |
| 净利润 | $481.1M | $3.5B |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 49.7% |
| 净利率 | 24.6% | 197.6% |
| 营收同比 | 7.1% | 13.2% |
| 净利润同比 | 5.3% | 358.7% |
| 每股收益（稀释后） | $3.33 | $9.34 |
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DECKSPG
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $964.5M | $1.5B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $825.3M | $1.5B | ||
| Q1 24 | $959.8M | $1.4B |
净利润DECKSPG
| Q4 25 | $481.1M | $3.5B | ||
| Q3 25 | $268.2M | $702.7M | ||
| Q2 25 | $139.2M | $643.7M | ||
| Q1 25 | $151.4M | $477.9M | ||
| Q4 24 | $456.7M | $771.8M | ||
| Q3 24 | $242.3M | $546.7M | ||
| Q2 24 | $115.6M | $569.4M | ||
| Q1 24 | $127.5M | $841.2M |
毛利率DECKSPG
| Q4 25 | 59.8% | — | ||
| Q3 25 | 56.2% | — | ||
| Q2 25 | 55.8% | — | ||
| Q1 25 | 56.7% | — | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 55.9% | — | ||
| Q2 24 | 56.9% | — | ||
| Q1 24 | 56.2% | — |
营业利润率DECKSPG
| Q4 25 | 31.4% | 49.7% | ||
| Q3 25 | 22.8% | 50.8% | ||
| Q2 25 | 17.1% | 49.7% | ||
| Q1 25 | 17.0% | 49.4% | ||
| Q4 24 | 31.0% | 52.8% | ||
| Q3 24 | 23.3% | 51.9% | ||
| Q2 24 | 16.1% | 51.7% | ||
| Q1 24 | 15.0% | 51.0% |
净利率DECKSPG
| Q4 25 | 24.6% | 197.6% | ||
| Q3 25 | 18.7% | 43.9% | ||
| Q2 25 | 14.4% | 43.0% | ||
| Q1 25 | 14.8% | 32.4% | ||
| Q4 24 | 25.0% | 48.8% | ||
| Q3 24 | 18.5% | 36.9% | ||
| Q2 24 | 14.0% | 39.0% | ||
| Q1 24 | 13.3% | 58.3% |
每股收益（稀释后）DECKSPG
| Q4 25 | $3.33 | $9.34 | ||
| Q3 25 | $1.82 | $1.86 | ||
| Q2 25 | $0.93 | $1.70 | ||
| Q1 25 | $-2.78 | $1.27 | ||
| Q4 24 | $3.00 | $2.04 | ||
| Q3 24 | $1.59 | $1.46 | ||
| Q2 24 | $4.52 | $1.51 | ||
| Q1 24 | $4.82 | $2.25 |
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 | $823.1M |
| 总债务越低越好 | — | $28.4B |
| 股东权益账面价值 | $2.6B | $5.2B |
| 总资产 | $4.1B | $40.6B |
| 负债/权益比越低杠杆越低 | — | 5.46× |
8季度趋势，按日历期对齐
现金及短期投资DECKSPG
| Q4 25 | $2.1B | $823.1M | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $2.2B | $1.4B | ||
| Q3 24 | $1.2B | $2.5B | ||
| Q2 24 | $1.4B | $2.5B | ||
| Q1 24 | $1.5B | $2.6B |
总债务DECKSPG
| Q4 25 | — | $28.4B | ||
| Q3 25 | — | $25.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $24.8B | ||
| Q4 24 | — | $24.3B | ||
| Q3 24 | — | $25.4B | ||
| Q2 24 | — | $25.3B | ||
| Q1 24 | — | $25.5B |
股东权益DECKSPG
| Q4 25 | $2.6B | $5.2B | ||
| Q3 25 | $2.5B | $2.3B | ||
| Q2 25 | $2.5B | $2.5B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.6B | $2.9B | ||
| Q3 24 | $2.2B | $2.7B | ||
| Q2 24 | $2.1B | $2.9B | ||
| Q1 24 | $2.1B | $3.1B |
总资产DECKSPG
| Q4 25 | $4.1B | $40.6B | ||
| Q3 25 | $3.8B | $33.6B | ||
| Q2 25 | $3.8B | $33.3B | ||
| Q1 25 | $3.6B | $32.5B | ||
| Q4 24 | $4.0B | $32.4B | ||
| Q3 24 | $3.4B | $33.3B | ||
| Q2 24 | $3.3B | $33.4B | ||
| Q1 24 | $3.1B | $33.7B |
负债/权益比DECKSPG
| Q4 25 | — | 5.46× | ||
| Q3 25 | — | 10.98× | ||
| Q2 25 | — | 10.36× | ||
| Q1 25 | — | 9.50× | ||
| Q4 24 | — | 8.25× | ||
| Q3 24 | — | 9.37× | ||
| Q2 24 | — | 8.59× | ||
| Q1 24 | — | 8.22× |
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 | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $948.8M |
| 自由现金流率自由现金流/营收 | 52.1% | 53.0% |
| 资本支出强度资本支出/营收 | 1.1% | 14.2% |
| 现金转化率经营现金流/净利润 | 2.17× | 0.34× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $3.2B |
8季度趋势，按日历期对齐
经营现金流DECKSPG
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $8.1M | $890.3M | ||
| Q2 25 | $36.1M | $1.2B | ||
| Q1 25 | $-73.0M | $827.2M | ||
| Q4 24 | $1.1B | $1.1B | ||
| Q3 24 | $-90.5M | $892.9M | ||
| Q2 24 | $112.7M | $1.1B | ||
| Q1 24 | $-28.7M | $773.1M |
自由现金流DECKSPG
| Q4 25 | $1.0B | $948.8M | ||
| Q3 25 | $-13.9M | $685.0M | ||
| Q2 25 | $12.2M | $971.3M | ||
| Q1 25 | $-89.4M | $597.0M | ||
| Q4 24 | $1.1B | $867.7M | ||
| Q3 24 | $-113.4M | $706.5M | ||
| Q2 24 | $90.1M | $874.8M | ||
| Q1 24 | $-44.0M | $610.1M |
自由现金流率DECKSPG
| Q4 25 | 52.1% | 53.0% | ||
| Q3 25 | -1.0% | 42.8% | ||
| Q2 25 | 1.3% | 64.8% | ||
| Q1 25 | -8.8% | 40.5% | ||
| Q4 24 | 58.6% | 54.8% | ||
| Q3 24 | -8.6% | 47.7% | ||
| Q2 24 | 10.9% | 60.0% | ||
| Q1 24 | -4.6% | 42.3% |
资本支出强度DECKSPG
| Q4 25 | 1.1% | 14.2% | ||
| Q3 25 | 1.5% | 12.8% | ||
| Q2 25 | 2.5% | 16.3% | ||
| Q1 25 | 1.6% | 15.6% | ||
| Q4 24 | 1.3% | 13.8% | ||
| Q3 24 | 1.7% | 12.6% | ||
| Q2 24 | 2.7% | 12.9% | ||
| Q1 24 | 1.6% | 11.3% |
现金转化率DECKSPG
| Q4 25 | 2.17× | 0.34× | ||
| Q3 25 | 0.03× | 1.27× | ||
| Q2 25 | 0.26× | 1.89× | ||
| Q1 25 | -0.48× | 1.73× | ||
| Q4 24 | 2.40× | 1.41× | ||
| Q3 24 | -0.37× | 1.63× | ||
| Q2 24 | 0.97× | 1.87× | ||
| Q1 24 | -0.22× | 0.92× |
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% |
SPG
| Real Estate Segment | $1.7B | 95% |
| Other | $86.3M | 5% |
