vs
Deckers Brands（DECK）与托尔工业（THO）财务数据对比。点击上方公司名可切换其他公司
托尔工业的季度营收约是Deckers Brands的1.2倍（$2.4B vs $2.0B），Deckers Brands净利率更高（24.6% vs 0.9%，领先23.7%），托尔工业同比增速更快（11.5% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $-74.8M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 4.0%）
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。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
DECK vs THO — 直观对比
营收规模更大
THO
是对方的1.2倍
$2.0B
营收增速更快
THO
高出4.4%
7.1%
净利率更高
DECK
高出23.7%
0.9%
自由现金流更多
DECK
多$1.1B
$-74.8M
两年增速更快
DECK
近两年复合增速
4.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.4B |
| 净利润 | $481.1M | $21.7M |
| 毛利率 | 59.8% | 13.4% |
| 营业利润率 | 31.4% | 1.4% |
| 净利率 | 24.6% | 0.9% |
| 营收同比 | 7.1% | 11.5% |
| 净利润同比 | 5.3% | 1282.8% |
| 每股收益（稀释后） | $3.33 | $0.41 |
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DECKTHO
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $964.5M | $2.9B | ||
| Q1 25 | $1.0B | $2.0B | ||
| Q4 24 | $1.8B | $2.1B | ||
| Q3 24 | $1.3B | $2.5B | ||
| Q2 24 | $825.3M | $2.8B | ||
| Q1 24 | $959.8M | $2.2B |
净利润DECKTHO
| Q4 25 | $481.1M | $21.7M | ||
| Q3 25 | $268.2M | $125.8M | ||
| Q2 25 | $139.2M | $135.2M | ||
| Q1 25 | $151.4M | $-551.0K | ||
| Q4 24 | $456.7M | $-1.8M | ||
| Q3 24 | $242.3M | $90.0M | ||
| Q2 24 | $115.6M | $114.5M | ||
| Q1 24 | $127.5M | $7.2M |
毛利率DECKTHO
| Q4 25 | 59.8% | 13.4% | ||
| Q3 25 | 56.2% | 14.7% | ||
| Q2 25 | 55.8% | 15.3% | ||
| Q1 25 | 56.7% | 12.1% | ||
| Q4 24 | 60.3% | 13.1% | ||
| Q3 24 | 55.9% | 15.8% | ||
| Q2 24 | 56.9% | 15.1% | ||
| Q1 24 | 56.2% | 12.3% |
营业利润率DECKTHO
| Q4 25 | 31.4% | 1.4% | ||
| Q3 25 | 22.8% | 5.7% | ||
| Q2 25 | 17.1% | 5.4% | ||
| Q1 25 | 17.0% | -0.1% | ||
| Q4 24 | 31.0% | -0.1% | ||
| Q3 24 | 23.3% | 5.0% | ||
| Q2 24 | 16.1% | 5.1% | ||
| Q1 24 | 15.0% | 0.3% |
净利率DECKTHO
| Q4 25 | 24.6% | 0.9% | ||
| Q3 25 | 18.7% | 5.0% | ||
| Q2 25 | 14.4% | 4.7% | ||
| Q1 25 | 14.8% | -0.0% | ||
| Q4 24 | 25.0% | -0.1% | ||
| Q3 24 | 18.5% | 3.6% | ||
| Q2 24 | 14.0% | 4.1% | ||
| Q1 24 | 13.3% | 0.3% |
每股收益（稀释后）DECKTHO
| Q4 25 | $3.33 | $0.41 | ||
| Q3 25 | $1.82 | $2.35 | ||
| Q2 25 | $0.93 | $2.53 | ||
| Q1 25 | $-2.78 | $-0.01 | ||
| Q4 24 | $3.00 | $-0.03 | ||
| Q3 24 | $1.59 | $1.69 | ||
| Q2 24 | $4.52 | $2.13 | ||
| Q1 24 | $4.82 | $0.13 |
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 | $509.9M |
| 总债务越低越好 | — | $916.0M |
| 股东权益账面价值 | $2.6B | $4.3B |
| 总资产 | $4.1B | $7.0B |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资DECKTHO
| Q4 25 | $2.1B | $509.9M | ||
| Q3 25 | $1.4B | $586.6M | ||
| Q2 25 | $1.7B | $508.3M | ||
| Q1 25 | $1.9B | $373.8M | ||
| Q4 24 | $2.2B | $445.2M | ||
| Q3 24 | $1.2B | $501.3M | ||
| Q2 24 | $1.4B | $371.8M | ||
| Q1 24 | $1.5B | $340.2M |
总债务DECKTHO
| Q4 25 | — | $916.0M | ||
| Q3 25 | — | $923.0M | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
股东权益DECKTHO
| Q4 25 | $2.6B | $4.3B | ||
| Q3 25 | $2.5B | $4.3B | ||
| Q2 25 | $2.5B | $4.2B | ||
| Q1 25 | $2.5B | $4.0B | ||
| Q4 24 | $2.6B | $4.1B | ||
| Q3 24 | $2.2B | $4.1B | ||
| Q2 24 | $2.1B | $4.0B | ||
| Q1 24 | $2.1B | $3.9B |
总资产DECKTHO
| Q4 25 | $4.1B | $7.0B | ||
| Q3 25 | $3.8B | $7.1B | ||
| Q2 25 | $3.8B | $7.2B | ||
| Q1 25 | $3.6B | $6.7B | ||
| Q4 24 | $4.0B | $6.9B | ||
| Q3 24 | $3.4B | $7.0B | ||
| Q2 24 | $3.3B | $7.2B | ||
| Q1 24 | $3.1B | $7.2B |
负债/权益比DECKTHO
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× | ||
| Q1 24 | — | 0.36× |
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 | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-74.8M |
| 自由现金流率自由现金流/营收 | 52.1% | -3.1% |
| 资本支出强度资本支出/营收 | 1.1% | 1.3% |
| 现金转化率经营现金流/净利润 | 2.17× | -2.07× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $375.1M |
8季度趋势，按日历期对齐
经营现金流DECKTHO
| Q4 25 | $1.0B | $-44.9M | ||
| Q3 25 | $8.1M | $258.7M | ||
| Q2 25 | $36.1M | $257.7M | ||
| Q1 25 | $-73.0M | $30.8M | ||
| Q4 24 | $1.1B | $30.7M | ||
| Q3 24 | $-90.5M | $338.0M | ||
| Q2 24 | $112.7M | $251.7M | ||
| Q1 24 | $-28.7M | $-103.9M |
自由现金流DECKTHO
| Q4 25 | $1.0B | $-74.8M | ||
| Q3 25 | $-13.9M | $221.6M | ||
| Q2 25 | $12.2M | $222.5M | ||
| Q1 25 | $-89.4M | $5.8M | ||
| Q4 24 | $1.1B | $6.4M | ||
| Q3 24 | $-113.4M | $301.3M | ||
| Q2 24 | $90.1M | $225.4M | ||
| Q1 24 | $-44.0M | $-140.2M |
自由现金流率DECKTHO
| Q4 25 | 52.1% | -3.1% | ||
| Q3 25 | -1.0% | 8.8% | ||
| Q2 25 | 1.3% | 7.7% | ||
| Q1 25 | -8.8% | 0.3% | ||
| Q4 24 | 58.6% | 0.3% | ||
| Q3 24 | -8.6% | 11.9% | ||
| Q2 24 | 10.9% | 8.0% | ||
| Q1 24 | -4.6% | -6.4% |
资本支出强度DECKTHO
| Q4 25 | 1.1% | 1.3% | ||
| Q3 25 | 1.5% | 1.5% | ||
| Q2 25 | 2.5% | 1.2% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 1.3% | 1.1% | ||
| Q3 24 | 1.7% | 1.4% | ||
| Q2 24 | 2.7% | 0.9% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率DECKTHO
| Q4 25 | 2.17× | -2.07× | ||
| Q3 25 | 0.03× | 2.06× | ||
| Q2 25 | 0.26× | 1.91× | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | 3.76× | ||
| Q2 24 | 0.97× | 2.20× | ||
| Q1 24 | -0.22× | -14.39× |
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% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
