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Deckers Brands（DECK）与韦莱韬悦（WTW）财务数据对比。点击上方公司名可切换其他公司
韦莱韬悦的季度营收约是Deckers Brands的1.2倍（$2.4B vs $2.0B），Deckers Brands净利率更高（24.6% vs 12.6%，领先12.0%），韦莱韬悦同比增速更快（8.5% vs 7.1%），过去两年Deckers Brands的营收复合增速更高（42.8% vs 4.3%）
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。
韦莱韬悦是一家英美联营的跨国咨询、经纪及解决方案服务商，业务覆盖商业保险经纪与风险咨询、员工福利与薪酬咨询、退休与精算服务，同时可为养老基金、机构投资者提供专业投资建议，服务网络覆盖全球多个市场。
DECK vs WTW — 直观对比
营收规模更大
WTW
是对方的1.2倍
$2.0B
营收增速更快
WTW
高出1.4%
7.1%
净利率更高
DECK
高出12.0%
12.6%
两年增速更快
DECK
近两年复合增速
4.3%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.4B |
| 净利润 | $481.1M | $303.0M |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 18.6% |
| 净利率 | 24.6% | 12.6% |
| 营收同比 | 7.1% | 8.5% |
| 净利润同比 | 5.3% | 27.0% |
| 每股收益（稀释后） | $3.33 | $3.10 |
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DECKWTW
| Q1 26 | — | $2.4B | ||
| Q4 25 | $2.0B | $2.9B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $964.5M | $2.2B | ||
| Q1 25 | $1.0B | $2.2B | ||
| Q4 24 | $1.8B | $3.0B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $825.3M | $2.2B |
净利润DECKWTW
| Q1 26 | — | $303.0M | ||
| Q4 25 | $481.1M | $735.0M | ||
| Q3 25 | $268.2M | $304.0M | ||
| Q2 25 | $139.2M | $331.0M | ||
| Q1 25 | $151.4M | $235.0M | ||
| Q4 24 | $456.7M | $1.2B | ||
| Q3 24 | $242.3M | $-1.7B | ||
| Q2 24 | $115.6M | $141.0M |
毛利率DECKWTW
| Q1 26 | — | — | ||
| 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% | — |
营业利润率DECKWTW
| Q1 26 | — | 18.6% | ||
| Q4 25 | 31.4% | 35.3% | ||
| Q3 25 | 22.8% | 18.7% | ||
| Q2 25 | 17.1% | 16.6% | ||
| Q1 25 | 17.0% | 19.8% | ||
| Q4 24 | 31.0% | 30.2% | ||
| Q3 24 | 23.3% | -34.2% | ||
| Q2 24 | 16.1% | 9.6% |
净利率DECKWTW
| Q1 26 | — | 12.6% | ||
| Q4 25 | 24.6% | 25.5% | ||
| Q3 25 | 18.7% | 13.6% | ||
| Q2 25 | 14.4% | 14.9% | ||
| Q1 25 | 14.8% | 10.8% | ||
| Q4 24 | 25.0% | 41.7% | ||
| Q3 24 | 18.5% | -74.8% | ||
| Q2 24 | 14.0% | 6.4% |
每股收益（稀释后）DECKWTW
| Q1 26 | — | $3.10 | ||
| Q4 25 | $3.33 | $7.50 | ||
| Q3 25 | $1.82 | $3.11 | ||
| Q2 25 | $0.93 | $3.32 | ||
| Q1 25 | $-2.78 | $2.33 | ||
| Q4 24 | $3.00 | $12.29 | ||
| Q3 24 | $1.59 | $-16.44 | ||
| Q2 24 | $4.52 | $1.36 |
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 | $1.9B |
| 总债务越低越好 | — | $6.3B |
| 股东权益账面价值 | $2.6B | $8.1B |
| 总资产 | $4.1B | $29.6B |
| 负债/权益比越低杠杆越低 | — | 0.78× |
8季度趋势，按日历期对齐
现金及短期投资DECKWTW
| Q1 26 | — | $1.9B | ||
| Q4 25 | $2.1B | $3.2B | ||
| Q3 25 | $1.4B | $1.9B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $2.2B | $1.9B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.4B | $1.2B |
总债务DECKWTW
| Q1 26 | — | $6.3B | ||
| Q4 25 | — | $9.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.6B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益DECKWTW
| Q1 26 | — | $8.1B | ||
| Q4 25 | $2.6B | $8.0B | ||
| Q3 25 | $2.5B | $7.7B | ||
| Q2 25 | $2.5B | $8.1B | ||
| Q1 25 | $2.5B | $8.1B | ||
| Q4 24 | $2.6B | $7.9B | ||
| Q3 24 | $2.2B | $7.5B | ||
| Q2 24 | $2.1B | $9.3B |
总资产DECKWTW
| Q1 26 | — | $29.6B | ||
| Q4 25 | $4.1B | $29.5B | ||
| Q3 25 | $3.8B | $27.4B | ||
| Q2 25 | $3.8B | $28.5B | ||
| Q1 25 | $3.6B | $28.1B | ||
| Q4 24 | $4.0B | $27.7B | ||
| Q3 24 | $3.4B | $27.2B | ||
| Q2 24 | $3.3B | $29.6B |
负债/权益比DECKWTW
| Q1 26 | — | 0.78× | ||
| Q4 25 | — | 1.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $1.0B | — |
| 自由现金流率自由现金流/营收 | 52.1% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流DECKWTW
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $771.0M | ||
| Q3 25 | $8.1M | $678.0M | ||
| Q2 25 | $36.1M | $361.0M | ||
| Q1 25 | $-73.0M | $-35.0M | ||
| Q4 24 | $1.1B | $599.0M | ||
| Q3 24 | $-90.5M | $482.0M | ||
| Q2 24 | $112.7M | $407.0M |
自由现金流DECKWTW
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $708.0M | ||
| Q3 25 | $-13.9M | $621.0M | ||
| Q2 25 | $12.2M | $303.0M | ||
| Q1 25 | $-89.4M | $-86.0M | ||
| Q4 24 | $1.1B | $543.0M | ||
| Q3 24 | $-113.4M | $419.0M | ||
| Q2 24 | $90.1M | $341.0M |
自由现金流率DECKWTW
| Q1 26 | — | — | ||
| Q4 25 | 52.1% | 24.6% | ||
| Q3 25 | -1.0% | 27.7% | ||
| Q2 25 | 1.3% | 13.7% | ||
| Q1 25 | -8.8% | -3.9% | ||
| Q4 24 | 58.6% | 18.2% | ||
| Q3 24 | -8.6% | 18.7% | ||
| Q2 24 | 10.9% | 15.4% |
资本支出强度DECKWTW
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 2.2% | ||
| Q3 25 | 1.5% | 2.5% | ||
| Q2 25 | 2.5% | 2.6% | ||
| Q1 25 | 1.6% | 2.3% | ||
| Q4 24 | 1.3% | 1.9% | ||
| Q3 24 | 1.7% | 2.8% | ||
| Q2 24 | 2.7% | 3.0% |
现金转化率DECKWTW
| Q1 26 | — | — | ||
| Q4 25 | 2.17× | 1.05× | ||
| Q3 25 | 0.03× | 2.23× | ||
| Q2 25 | 0.26× | 1.09× | ||
| Q1 25 | -0.48× | -0.15× | ||
| Q4 24 | 2.40× | 0.48× | ||
| Q3 24 | -0.37× | — | ||
| Q2 24 | 0.97× | 2.89× |
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% |
WTW
| Bps The HWC segment had | $1.3B | 53% |
| Bps The R&B segment had | $1.1B | 46% |
