vs
Deckers Brands（DECK）与永利度假村（WYNN）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是永利度假村的1.0倍（$2.0B vs $1.9B），Deckers Brands净利率更高（24.6% vs 5.4%，领先19.2%），Deckers Brands同比增速更快（7.1% vs 1.5%），Deckers Brands自由现金流更多（$1.0B vs $306.8M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 0.1%）
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。
永利度假村是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店及博彩度假村的开发与运营。公司2002年由前梦幻度假村董事长兼首席执行官史蒂夫·永利创立，现任首席执行官为克雷格·比林斯，截至2020年已在全球布局6处优质物业。
DECK vs WYNN — 直观对比
营收规模更大
DECK
是对方的1.0倍
$1.9B
营收增速更快
DECK
高出5.7%
1.5%
净利率更高
DECK
高出19.2%
5.4%
自由现金流更多
DECK
多$713.5M
$306.8M
两年增速更快
DECK
近两年复合增速
0.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.9B |
| 净利润 | $481.1M | $100.0M |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 14.7% |
| 净利率 | 24.6% | 5.4% |
| 营收同比 | 7.1% | 1.5% |
| 净利润同比 | 5.3% | -63.9% |
| 每股收益（稀释后） | $3.33 | $0.96 |
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DECKWYNN
| Q4 25 | $2.0B | $1.9B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $964.5M | $1.7B | ||
| Q1 25 | $1.0B | $1.7B | ||
| Q4 24 | $1.8B | $1.8B | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $825.3M | $1.7B | ||
| Q1 24 | $959.8M | $1.9B |
净利润DECKWYNN
| Q4 25 | $481.1M | $100.0M | ||
| Q3 25 | $268.2M | $88.3M | ||
| Q2 25 | $139.2M | $66.2M | ||
| Q1 25 | $151.4M | $72.7M | ||
| Q4 24 | $456.7M | $277.0M | ||
| Q3 24 | $242.3M | $-32.1M | ||
| Q2 24 | $115.6M | $111.9M | ||
| Q1 24 | $127.5M | $144.2M |
毛利率DECKWYNN
| 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DECKWYNN
| Q4 25 | 31.4% | 14.7% | ||
| Q3 25 | 22.8% | 16.9% | ||
| Q2 25 | 17.1% | 15.2% | ||
| Q1 25 | 17.0% | 15.8% | ||
| Q4 24 | 31.0% | 20.0% | ||
| Q3 24 | 23.3% | 7.9% | ||
| Q2 24 | 16.1% | 15.6% | ||
| Q1 24 | 15.0% | 19.5% |
净利率DECKWYNN
| Q4 25 | 24.6% | 5.4% | ||
| Q3 25 | 18.7% | 4.8% | ||
| Q2 25 | 14.4% | 3.8% | ||
| Q1 25 | 14.8% | 4.3% | ||
| Q4 24 | 25.0% | 15.1% | ||
| Q3 24 | 18.5% | -1.9% | ||
| Q2 24 | 14.0% | 6.5% | ||
| Q1 24 | 13.3% | 7.7% |
每股收益（稀释后）DECKWYNN
| Q4 25 | $3.33 | $0.96 | ||
| Q3 25 | $1.82 | $0.85 | ||
| Q2 25 | $0.93 | $0.64 | ||
| Q1 25 | $-2.78 | $0.69 | ||
| Q4 24 | $3.00 | $2.43 | ||
| Q3 24 | $1.59 | $-0.29 | ||
| Q2 24 | $4.52 | $0.91 | ||
| Q1 24 | $4.82 | $1.30 |
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 | $1.5B |
| 总债务越低越好 | — | $10.5B |
| 股东权益账面价值 | $2.6B | $-275.5M |
| 总资产 | $4.1B | $13.1B |
| 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DECKWYNN
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $1.4B | $1.5B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.9B | $2.1B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $1.2B | $2.4B | ||
| Q2 24 | $1.4B | $2.4B | ||
| Q1 24 | $1.5B | $2.4B |
总债务DECKWYNN
| Q4 25 | — | $10.5B | ||
| Q3 25 | — | $10.6B | ||
| Q2 25 | — | $10.5B | ||
| Q1 25 | — | $10.6B | ||
| Q4 24 | — | $10.5B | ||
| Q3 24 | — | $11.8B | ||
| Q2 24 | — | $11.0B | ||
| Q1 24 | — | $11.2B |
股东权益DECKWYNN
| Q4 25 | $2.6B | $-275.5M | ||
| Q3 25 | $2.5B | $-370.0M | ||
| Q2 25 | $2.5B | $-441.5M | ||
| Q1 25 | $2.5B | $-360.7M | ||
| Q4 24 | $2.6B | $-224.2M | ||
| Q3 24 | $2.2B | $-281.4M | ||
| Q2 24 | $2.1B | $-109.8M | ||
| Q1 24 | $2.1B | $-137.0M |
总资产DECKWYNN
| Q4 25 | $4.1B | $13.1B | ||
| Q3 25 | $3.8B | $12.8B | ||
| Q2 25 | $3.8B | $12.7B | ||
| Q1 25 | $3.6B | $12.7B | ||
| Q4 24 | $4.0B | $13.0B | ||
| Q3 24 | $3.4B | $14.1B | ||
| Q2 24 | $3.3B | $13.3B | ||
| Q1 24 | $3.1B | $13.5B |
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 | $478.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $306.8M |
| 自由现金流率自由现金流/营收 | 52.1% | 16.4% |
| 资本支出强度资本支出/营收 | 1.1% | 9.2% |
| 现金转化率经营现金流/净利润 | 2.17× | 4.78× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $692.2M |
8季度趋势，按日历期对齐
经营现金流DECKWYNN
| Q4 25 | $1.0B | $478.0M | ||
| Q3 25 | $8.1M | $335.8M | ||
| Q2 25 | $36.1M | $405.1M | ||
| Q1 25 | $-73.0M | $133.8M | ||
| Q4 24 | $1.1B | $479.0M | ||
| Q3 24 | $-90.5M | $279.3M | ||
| Q2 24 | $112.7M | $352.8M | ||
| Q1 24 | $-28.7M | $315.1M |
自由现金流DECKWYNN
| Q4 25 | $1.0B | $306.8M | ||
| Q3 25 | $-13.9M | $171.8M | ||
| Q2 25 | $12.2M | $239.8M | ||
| Q1 25 | $-89.4M | $-26.2M | ||
| Q4 24 | $1.1B | $351.8M | ||
| Q3 24 | $-113.4M | $178.0M | ||
| Q2 24 | $90.1M | $259.1M | ||
| Q1 24 | $-44.0M | $217.4M |
自由现金流率DECKWYNN
| Q4 25 | 52.1% | 16.4% | ||
| Q3 25 | -1.0% | 9.4% | ||
| Q2 25 | 1.3% | 13.8% | ||
| Q1 25 | -8.8% | -1.5% | ||
| Q4 24 | 58.6% | 19.1% | ||
| Q3 24 | -8.6% | 10.5% | ||
| Q2 24 | 10.9% | 15.0% | ||
| Q1 24 | -4.6% | 11.7% |
资本支出强度DECKWYNN
| Q4 25 | 1.1% | 9.2% | ||
| Q3 25 | 1.5% | 8.9% | ||
| Q2 25 | 2.5% | 9.5% | ||
| Q1 25 | 1.6% | 9.4% | ||
| Q4 24 | 1.3% | 6.9% | ||
| Q3 24 | 1.7% | 6.0% | ||
| Q2 24 | 2.7% | 5.4% | ||
| Q1 24 | 1.6% | 5.2% |
现金转化率DECKWYNN
| Q4 25 | 2.17× | 4.78× | ||
| Q3 25 | 0.03× | 3.80× | ||
| Q2 25 | 0.26× | 6.12× | ||
| Q1 25 | -0.48× | 1.84× | ||
| Q4 24 | 2.40× | 1.73× | ||
| Q3 24 | -0.37× | — | ||
| Q2 24 | 0.97× | 3.15× | ||
| Q1 24 | -0.22× | 2.18× |
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% |
WYNN
| Casino | $1.1B | 61% |
| Occupancy | $305.1M | 16% |
| Food And Beverage | $264.9M | 14% |
| Entertainment Retail And Other | $152.6M | 8% |
