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Deckers Brands（DECK）与V2X, Inc.（VVX）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V2X, Inc.的1.6倍（$2.0B vs $1.2B），Deckers Brands净利率更高（24.6% vs 1.9%，领先22.7%），Deckers Brands同比增速更快（7.1% vs 5.3%），Deckers Brands自由现金流更多（$1.0B vs $207.2M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 9.8%）
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。
V2X公司是总部位于美国的技术工程服务供应商，主要服务美国国防部等联邦政府客户，提供任务支持、关键基础设施运维、国家安全相关解决方案，业务覆盖国防、公共安全、运营韧性等核心领域。
DECK vs VVX — 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1.9%
5.3%
净利率更高
DECK
高出22.7%
1.9%
自由现金流更多
DECK
多$813.1M
$207.2M
两年增速更快
DECK
近两年复合增速
9.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $481.1M | $22.8M |
| 毛利率 | 59.8% | 8.6% |
| 营业利润率 | 31.4% | 4.2% |
| 净利率 | 24.6% | 1.9% |
| 营收同比 | 7.1% | 5.3% |
| 净利润同比 | 5.3% | -9.0% |
| 每股收益（稀释后） | $3.33 | $0.73 |
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DECKVVX
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $964.5M | $1.1B | ||
| Q1 25 | $1.0B | $1.0B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $825.3M | $1.1B | ||
| Q1 24 | $959.8M | $1.0B |
净利润DECKVVX
| Q4 25 | $481.1M | $22.8M | ||
| Q3 25 | $268.2M | $24.6M | ||
| Q2 25 | $139.2M | $22.4M | ||
| Q1 25 | $151.4M | $8.1M | ||
| Q4 24 | $456.7M | $25.0M | ||
| Q3 24 | $242.3M | $15.1M | ||
| Q2 24 | $115.6M | $-6.5M | ||
| Q1 24 | $127.5M | $1.1M |
毛利率DECKVVX
| Q4 25 | 59.8% | 8.6% | ||
| Q3 25 | 56.2% | 8.1% | ||
| Q2 25 | 55.8% | 8.9% | ||
| Q1 25 | 56.7% | 7.7% | ||
| Q4 24 | 60.3% | 9.3% | ||
| Q3 24 | 55.9% | 8.5% | ||
| Q2 24 | 56.9% | 6.9% | ||
| Q1 24 | 56.2% | 7.0% |
营业利润率DECKVVX
| Q4 25 | 31.4% | 4.2% | ||
| Q3 25 | 22.8% | 4.8% | ||
| Q2 25 | 17.1% | 4.9% | ||
| Q1 25 | 17.0% | 3.4% | ||
| Q4 24 | 31.0% | 4.5% | ||
| Q3 24 | 23.3% | 4.6% | ||
| Q2 24 | 16.1% | 2.6% | ||
| Q1 24 | 15.0% | 3.0% |
净利率DECKVVX
| Q4 25 | 24.6% | 1.9% | ||
| Q3 25 | 18.7% | 2.1% | ||
| Q2 25 | 14.4% | 2.1% | ||
| Q1 25 | 14.8% | 0.8% | ||
| Q4 24 | 25.0% | 2.2% | ||
| Q3 24 | 18.5% | 1.4% | ||
| Q2 24 | 14.0% | -0.6% | ||
| Q1 24 | 13.3% | 0.1% |
每股收益（稀释后）DECKVVX
| Q4 25 | $3.33 | $0.73 | ||
| Q3 25 | $1.82 | $0.77 | ||
| Q2 25 | $0.93 | $0.70 | ||
| Q1 25 | $-2.78 | $0.25 | ||
| Q4 24 | $3.00 | $0.78 | ||
| Q3 24 | $1.59 | $0.47 | ||
| Q2 24 | $4.52 | $-0.21 | ||
| Q1 24 | $4.82 | $0.04 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $1.1B |
| 总资产 | $4.1B | $3.3B |
| 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DECKVVX
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
股东权益DECKVVX
| Q4 25 | $2.6B | $1.1B | ||
| Q3 25 | $2.5B | $1.1B | ||
| Q2 25 | $2.5B | $1.1B | ||
| Q1 25 | $2.5B | $1.0B | ||
| Q4 24 | $2.6B | $1.0B | ||
| Q3 24 | $2.2B | $1.0B | ||
| Q2 24 | $2.1B | $992.0M | ||
| Q1 24 | $2.1B | $993.7M |
总资产DECKVVX
| Q4 25 | $4.1B | $3.3B | ||
| Q3 25 | $3.8B | $3.2B | ||
| Q2 25 | $3.8B | $3.1B | ||
| Q1 25 | $3.6B | $3.1B | ||
| Q4 24 | $4.0B | $3.2B | ||
| Q3 24 | $3.4B | $3.1B | ||
| Q2 24 | $3.3B | $3.2B | ||
| Q1 24 | $3.1B | $3.1B |
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 | $209.5M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $207.2M |
| 自由现金流率自由现金流/营收 | 52.1% | 17.0% |
| 资本支出强度资本支出/营收 | 1.1% | 0.2% |
| 现金转化率经营现金流/净利润 | 2.17× | 9.20× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $170.1M |
8季度趋势，按日历期对齐
经营现金流DECKVVX
| Q4 25 | $1.0B | $209.5M | ||
| Q3 25 | $8.1M | $39.4M | ||
| Q2 25 | $36.1M | $28.5M | ||
| Q1 25 | $-73.0M | $-95.5M | ||
| Q4 24 | $1.1B | $223.1M | ||
| Q3 24 | $-90.5M | $62.7M | ||
| Q2 24 | $112.7M | $25.7M | ||
| Q1 24 | $-28.7M | $-57.2M |
自由现金流DECKVVX
| Q4 25 | $1.0B | $207.2M | ||
| Q3 25 | $-13.9M | $35.0M | ||
| Q2 25 | $12.2M | $26.1M | ||
| Q1 25 | $-89.4M | $-98.2M | ||
| Q4 24 | $1.1B | $222.0M | ||
| Q3 24 | $-113.4M | $60.5M | ||
| Q2 24 | $90.1M | $24.9M | ||
| Q1 24 | $-44.0M | $-65.0M |
自由现金流率DECKVVX
| Q4 25 | 52.1% | 17.0% | ||
| Q3 25 | -1.0% | 3.0% | ||
| Q2 25 | 1.3% | 2.4% | ||
| Q1 25 | -8.8% | -9.7% | ||
| Q4 24 | 58.6% | 19.2% | ||
| Q3 24 | -8.6% | 5.6% | ||
| Q2 24 | 10.9% | 2.3% | ||
| Q1 24 | -4.6% | -6.4% |
资本支出强度DECKVVX
| Q4 25 | 1.1% | 0.2% | ||
| Q3 25 | 1.5% | 0.4% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | 1.6% | 0.3% | ||
| Q4 24 | 1.3% | 0.1% | ||
| Q3 24 | 1.7% | 0.2% | ||
| Q2 24 | 2.7% | 0.1% | ||
| Q1 24 | 1.6% | 0.8% |
现金转化率DECKVVX
| Q4 25 | 2.17× | 9.20× | ||
| Q3 25 | 0.03× | 1.60× | ||
| Q2 25 | 0.26× | 1.27× | ||
| Q1 25 | -0.48× | -11.78× | ||
| Q4 24 | 2.40× | 8.91× | ||
| Q3 24 | -0.37× | 4.16× | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | -0.22× | -50.02× |
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% |
VVX
| Army | $480.4M | 39% |
| Navy | $388.9M | 32% |
| Air Force | $196.1M | 16% |
| Other Customers | $153.3M | 13% |
