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Deckers Brands（DECK）与斑马技术（ZBRA）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是斑马技术的1.3倍（$2.0B vs $1.5B），Deckers Brands净利率更高（24.6% vs 4.7%，领先19.8%），斑马技术同比增速更快（10.6% vs 7.1%），Deckers Brands自由现金流更多（$1.0B vs $327.0M），过去两年Deckers Brands的营收复合增速更高（42.8% vs 12.0%）
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。
斑马技术（Zebra Technologies）是源自美国的跨国科技企业，专注于智能数据采集系统领域的研发与落地。公司总部位于芝加哥郊外的伊利诺伊州林肯郡，目前在全球57个国家和地区开展业务，雇员总数达10700名。
DECK vs ZBRA — 直观对比
营收规模更大
DECK
是对方的1.3倍
$1.5B
营收增速更快
ZBRA
高出3.4%
7.1%
净利率更高
DECK
高出19.8%
4.7%
自由现金流更多
DECK
多$693.3M
$327.0M
两年增速更快
DECK
近两年复合增速
12.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.5B |
| 净利润 | $481.1M | $70.0M |
| 毛利率 | 59.8% | 47.3% |
| 营业利润率 | 31.4% | 9.4% |
| 净利率 | 24.6% | 4.7% |
| 营收同比 | 7.1% | 10.6% |
| 净利润同比 | 5.3% | -57.1% |
| 每股收益（稀释后） | $3.33 | $1.40 |
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DECKZBRA
| Q4 25 | $2.0B | $1.5B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $964.5M | $1.3B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $825.3M | $1.2B | ||
| Q1 24 | $959.8M | $1.2B |
净利润DECKZBRA
| Q4 25 | $481.1M | $70.0M | ||
| Q3 25 | $268.2M | $101.0M | ||
| Q2 25 | $139.2M | $112.0M | ||
| Q1 25 | $151.4M | $136.0M | ||
| Q4 24 | $456.7M | $163.0M | ||
| Q3 24 | $242.3M | $137.0M | ||
| Q2 24 | $115.6M | $113.0M | ||
| Q1 24 | $127.5M | $115.0M |
毛利率DECKZBRA
| Q4 25 | 59.8% | 47.3% | ||
| Q3 25 | 56.2% | 48.0% | ||
| Q2 25 | 55.8% | 47.6% | ||
| Q1 25 | 56.7% | 49.3% | ||
| Q4 24 | 60.3% | 48.6% | ||
| Q3 24 | 55.9% | 48.8% | ||
| Q2 24 | 56.9% | 48.4% | ||
| Q1 24 | 56.2% | 47.9% |
营业利润率DECKZBRA
| Q4 25 | 31.4% | 9.4% | ||
| Q3 25 | 22.8% | 13.9% | ||
| Q2 25 | 17.1% | 14.2% | ||
| Q1 25 | 17.0% | 14.9% | ||
| Q4 24 | 31.0% | 16.9% | ||
| Q3 24 | 23.3% | 15.2% | ||
| Q2 24 | 16.1% | 13.7% | ||
| Q1 24 | 15.0% | 13.5% |
净利率DECKZBRA
| Q4 25 | 24.6% | 4.7% | ||
| Q3 25 | 18.7% | 7.7% | ||
| Q2 25 | 14.4% | 8.7% | ||
| Q1 25 | 14.8% | 10.4% | ||
| Q4 24 | 25.0% | 12.2% | ||
| Q3 24 | 18.5% | 10.9% | ||
| Q2 24 | 14.0% | 9.3% | ||
| Q1 24 | 13.3% | 9.8% |
每股收益（稀释后）DECKZBRA
| Q4 25 | $3.33 | $1.40 | ||
| Q3 25 | $1.82 | $1.97 | ||
| Q2 25 | $0.93 | $2.19 | ||
| Q1 25 | $-2.78 | $2.62 | ||
| Q4 24 | $3.00 | $3.14 | ||
| Q3 24 | $1.59 | $2.64 | ||
| Q2 24 | $4.52 | $2.17 | ||
| Q1 24 | $4.82 | $2.23 |
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 | $125.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $3.6B |
| 总资产 | $4.1B | $8.5B |
| 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DECKZBRA
| Q4 25 | $2.1B | $125.0M | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.7B | $872.0M | ||
| Q1 25 | $1.9B | $879.0M | ||
| Q4 24 | $2.2B | $901.0M | ||
| Q3 24 | $1.2B | $676.0M | ||
| Q2 24 | $1.4B | $411.0M | ||
| Q1 24 | $1.5B | $127.0M |
总债务DECKZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.1B |
股东权益DECKZBRA
| Q4 25 | $2.6B | $3.6B | ||
| Q3 25 | $2.5B | $3.7B | ||
| Q2 25 | $2.5B | $3.6B | ||
| Q1 25 | $2.5B | $3.6B | ||
| Q4 24 | $2.6B | $3.6B | ||
| Q3 24 | $2.2B | $3.4B | ||
| Q2 24 | $2.1B | $3.3B | ||
| Q1 24 | $2.1B | $3.2B |
总资产DECKZBRA
| Q4 25 | $4.1B | $8.5B | ||
| Q3 25 | $3.8B | $8.1B | ||
| Q2 25 | $3.8B | $7.9B | ||
| Q1 25 | $3.6B | $7.9B | ||
| Q4 24 | $4.0B | $8.0B | ||
| Q3 24 | $3.4B | $7.7B | ||
| Q2 24 | $3.3B | $7.5B | ||
| Q1 24 | $3.1B | $7.3B |
负债/权益比DECKZBRA
| Q4 25 | — | — | ||
| Q3 25 | — | 0.58× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.66× | ||
| Q1 24 | — | 0.66× |
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 | $357.0M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $327.0M |
| 自由现金流率自由现金流/营收 | 52.1% | 22.2% |
| 资本支出强度资本支出/营收 | 1.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 2.17× | 5.10× |
| 过去12个月自由现金流最近4个季度 | $929.1M | $831.0M |
8季度趋势，按日历期对齐
经营现金流DECKZBRA
| Q4 25 | $1.0B | $357.0M | ||
| Q3 25 | $8.1M | $235.0M | ||
| Q2 25 | $36.1M | $147.0M | ||
| Q1 25 | $-73.0M | $178.0M | ||
| Q4 24 | $1.1B | $306.0M | ||
| Q3 24 | $-90.5M | $294.0M | ||
| Q2 24 | $112.7M | $288.0M | ||
| Q1 24 | $-28.7M | $125.0M |
自由现金流DECKZBRA
| Q4 25 | $1.0B | $327.0M | ||
| Q3 25 | $-13.9M | $216.0M | ||
| Q2 25 | $12.2M | $130.0M | ||
| Q1 25 | $-89.4M | $158.0M | ||
| Q4 24 | $1.1B | $288.0M | ||
| Q3 24 | $-113.4M | $277.0M | ||
| Q2 24 | $90.1M | $278.0M | ||
| Q1 24 | $-44.0M | $111.0M |
自由现金流率DECKZBRA
| Q4 25 | 52.1% | 22.2% | ||
| Q3 25 | -1.0% | 16.4% | ||
| Q2 25 | 1.3% | 10.1% | ||
| Q1 25 | -8.8% | 12.1% | ||
| Q4 24 | 58.6% | 21.6% | ||
| Q3 24 | -8.6% | 22.1% | ||
| Q2 24 | 10.9% | 22.8% | ||
| Q1 24 | -4.6% | 9.4% |
资本支出强度DECKZBRA
| Q4 25 | 1.1% | 2.0% | ||
| Q3 25 | 1.5% | 1.4% | ||
| Q2 25 | 2.5% | 1.3% | ||
| Q1 25 | 1.6% | 1.5% | ||
| Q4 24 | 1.3% | 1.3% | ||
| Q3 24 | 1.7% | 1.4% | ||
| Q2 24 | 2.7% | 0.8% | ||
| Q1 24 | 1.6% | 1.2% |
现金转化率DECKZBRA
| Q4 25 | 2.17× | 5.10× | ||
| Q3 25 | 0.03× | 2.33× | ||
| Q2 25 | 0.26× | 1.31× | ||
| Q1 25 | -0.48× | 1.31× | ||
| Q4 24 | 2.40× | 1.88× | ||
| Q3 24 | -0.37× | 2.15× | ||
| Q2 24 | 0.97× | 2.55× | ||
| Q1 24 | -0.22× | 1.09× |
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% |
ZBRA
| Tangible Products | $1.2B | 83% |
| Service And Software | $255.0M | 17% |
