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Deckers Brands（DECK）与TRINET GROUP, INC.（TNET）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TRINET GROUP, INC.的1.6倍（$2.0B vs $1.2B），Deckers Brands同比增速更快（7.1% vs -2.2%），Deckers Brands自由现金流更多（$1.0B vs $43.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
DECK vs TNET — 直观对比
营收规模更大
DECK
是对方的1.6倍
$1.2B
营收增速更快
DECK
高出9.3%
-2.2%
自由现金流更多
DECK
多$977.3M
$43.0M
两年增速更快
DECK
近两年复合增速
-0.6%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $481.1M | — |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 0.1% |
| 净利率 | 24.6% | — |
| 营收同比 | 7.1% | -2.2% |
| 净利润同比 | 5.3% | — |
| 每股收益（稀释后） | $3.33 | $0.02 |
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DECKTNET
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $964.5M | $1.2B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $825.3M | $1.2B | ||
| Q1 24 | $959.8M | $1.3B |
净利润DECKTNET
| Q4 25 | $481.1M | — | ||
| Q3 25 | $268.2M | $34.0M | ||
| Q2 25 | $139.2M | $37.0M | ||
| Q1 25 | $151.4M | $85.0M | ||
| Q4 24 | $456.7M | — | ||
| Q3 24 | $242.3M | $45.0M | ||
| Q2 24 | $115.6M | $60.0M | ||
| Q1 24 | $127.5M | $91.0M |
毛利率DECKTNET
| 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DECKTNET
| Q4 25 | 31.4% | 0.1% | ||
| Q3 25 | 22.8% | 4.1% | ||
| Q2 25 | 17.1% | 4.1% | ||
| Q1 25 | 17.0% | 8.9% | ||
| Q4 24 | 31.0% | -2.9% | ||
| Q3 24 | 23.3% | 4.7% | ||
| Q2 24 | 16.1% | 6.5% | ||
| Q1 24 | 15.0% | 9.7% |
净利率DECKTNET
| Q4 25 | 24.6% | — | ||
| Q3 25 | 18.7% | 2.8% | ||
| Q2 25 | 14.4% | 3.0% | ||
| Q1 25 | 14.8% | 6.6% | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 18.5% | 3.6% | ||
| Q2 24 | 14.0% | 4.9% | ||
| Q1 24 | 13.3% | 7.2% |
每股收益（稀释后）DECKTNET
| Q4 25 | $3.33 | $0.02 | ||
| Q3 25 | $1.82 | $0.70 | ||
| Q2 25 | $0.93 | $0.77 | ||
| Q1 25 | $-2.78 | $1.71 | ||
| Q4 24 | $3.00 | $-0.44 | ||
| Q3 24 | $1.59 | $0.89 | ||
| Q2 24 | $4.52 | $1.20 | ||
| Q1 24 | $4.82 | $1.78 |
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 | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $54.0M |
| 总资产 | $4.1B | $3.8B |
| 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DECKTNET
| Q4 25 | $2.1B | $287.0M | ||
| Q3 25 | $1.4B | $321.0M | ||
| Q2 25 | $1.7B | $407.0M | ||
| Q1 25 | $1.9B | $349.0M | ||
| Q4 24 | $2.2B | $360.0M | ||
| Q3 24 | $1.2B | $301.0M | ||
| Q2 24 | $1.4B | $249.0M | ||
| Q1 24 | $1.5B | $383.0M |
股东权益DECKTNET
| Q4 25 | $2.6B | $54.0M | ||
| Q3 25 | $2.5B | $110.0M | ||
| Q2 25 | $2.5B | $107.0M | ||
| Q1 25 | $2.5B | $63.0M | ||
| Q4 24 | $2.6B | $69.0M | ||
| Q3 24 | $2.2B | $129.0M | ||
| Q2 24 | $2.1B | $100.0M | ||
| Q1 24 | $2.1B | $143.0M |
总资产DECKTNET
| Q4 25 | $4.1B | $3.8B | ||
| Q3 25 | $3.8B | $3.4B | ||
| Q2 25 | $3.8B | $3.7B | ||
| Q1 25 | $3.6B | $3.8B | ||
| Q4 24 | $4.0B | $4.1B | ||
| Q3 24 | $3.4B | $3.7B | ||
| Q2 24 | $3.3B | $3.7B | ||
| Q1 24 | $3.1B | $4.0B |
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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $43.0M |
| 自由现金流率自由现金流/营收 | 52.1% | 3.4% |
| 资本支出强度资本支出/营收 | 1.1% | 1.4% |
| 现金转化率经营现金流/净利润 | 2.17× | — |
| 过去12个月自由现金流最近4个季度 | $929.1M | $234.0M |
8季度趋势，按日历期对齐
经营现金流DECKTNET
| Q4 25 | $1.0B | $61.0M | ||
| Q3 25 | $8.1M | $72.0M | ||
| Q2 25 | $36.1M | $75.0M | ||
| Q1 25 | $-73.0M | $95.0M | ||
| Q4 24 | $1.1B | $65.0M | ||
| Q3 24 | $-90.5M | $84.0M | ||
| Q2 24 | $112.7M | $39.0M | ||
| Q1 24 | $-28.7M | $91.0M |
自由现金流DECKTNET
| Q4 25 | $1.0B | $43.0M | ||
| Q3 25 | $-13.9M | $55.0M | ||
| Q2 25 | $12.2M | $57.0M | ||
| Q1 25 | $-89.4M | $79.0M | ||
| Q4 24 | $1.1B | $47.0M | ||
| Q3 24 | $-113.4M | $59.0M | ||
| Q2 24 | $90.1M | $22.0M | ||
| Q1 24 | $-44.0M | $73.0M |
自由现金流率DECKTNET
| Q4 25 | 52.1% | 3.4% | ||
| Q3 25 | -1.0% | 4.5% | ||
| Q2 25 | 1.3% | 4.6% | ||
| Q1 25 | -8.8% | 6.1% | ||
| Q4 24 | 58.6% | 3.7% | ||
| Q3 24 | -8.6% | 4.8% | ||
| Q2 24 | 10.9% | 1.8% | ||
| Q1 24 | -4.6% | 5.8% |
资本支出强度DECKTNET
| Q4 25 | 1.1% | 1.4% | ||
| Q3 25 | 1.5% | 1.4% | ||
| Q2 25 | 2.5% | 1.5% | ||
| Q1 25 | 1.6% | 1.2% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 1.7% | 2.0% | ||
| Q2 24 | 2.7% | 1.4% | ||
| Q1 24 | 1.6% | 1.4% |
现金转化率DECKTNET
| Q4 25 | 2.17× | — | ||
| Q3 25 | 0.03× | 2.12× | ||
| Q2 25 | 0.26× | 2.03× | ||
| Q1 25 | -0.48× | 1.12× | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | 1.87× | ||
| Q2 24 | 0.97× | 0.65× | ||
| Q1 24 | -0.22× | 1.00× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
