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DeFi Development Corp.（DFDV）与微策略（MSTR）财务数据对比。点击上方公司名可切换其他公司
微策略的季度营收约是DeFi Development Corp.的26.6倍（$123.0M vs $4.6M），DeFi Development Corp.同比增速更快（647.2% vs 1.9%），过去两年DeFi Development Corp.的营收复合增速更高（181.5% vs 3.3%）
ADD汽车设计开发曾是一家英国企业，因打造外观极具未来感的Nova组装套件车为人熟知。该公司1971年至1973年总部位于南安普敦，后迁至兰开夏郡阿克灵顿运营至1975年。公司停业后，Nova车型相关产权在1978年被西约克郡的Nova Cars收购，后续还曾有小批量生产。
Strategy Inc（原名为微策略）是1989年成立的美国上市企业，主营商业智能与移动软件业务，旗下产品可帮助企业分析内外部数据以支撑经营决策，还可用于移动应用开发，总部位于弗吉尼亚州泰森斯角，商业分析赛道核心竞品包括SAP等。
DFDV vs MSTR — 直观对比
营收规模更大
MSTR
是对方的26.6倍
$4.6M
营收增速更快
DFDV
高出645.3%
1.9%
两年增速更快
DFDV
近两年复合增速
3.3%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.6M | $123.0M |
| 净利润 | $56.0M | — |
| 毛利率 | 98.1% | 66.1% |
| 营业利润率 | — | — |
| 净利率 | 1211.4% | — |
| 营收同比 | 647.2% | 1.9% |
| 净利润同比 | 11995.1% | — |
| 每股收益（稀释后） | $1.95 | — |
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DFDVMSTR
| Q4 25 | — | $123.0M | ||
| Q3 25 | $4.6M | $128.7M | ||
| Q2 25 | $2.0M | $114.5M | ||
| Q1 25 | $287.2K | $111.1M | ||
| Q4 24 | $628.9K | $120.7M | ||
| Q3 24 | $619.0K | $116.1M | ||
| Q2 24 | $441.0K | $111.4M | ||
| Q1 24 | $411.1K | $115.2M |
净利润DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | $56.0M | $2.8B | ||
| Q2 25 | $15.4M | $10.0B | ||
| Q1 25 | $-778.0K | $-4.2B | ||
| Q4 24 | $-487.0K | $-670.8M | ||
| Q3 24 | $-471.0K | $-340.2M | ||
| Q2 24 | $-805.0K | $-102.6M | ||
| Q1 24 | $-964.0K | $-53.1M |
毛利率DFDVMSTR
| Q4 25 | — | 66.1% | ||
| Q3 25 | 98.1% | 70.5% | ||
| Q2 25 | 98.6% | 68.8% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | 98.8% | 71.7% | ||
| Q3 24 | 98.7% | 70.4% | ||
| Q2 24 | 98.2% | 72.2% | ||
| Q1 24 | 97.9% | 74.0% |
营业利润率DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -307.5% | -5331.4% | ||
| Q4 24 | -107.9% | -842.1% | ||
| Q3 24 | -73.3% | -372.7% | ||
| Q2 24 | -193.2% | -179.7% | ||
| Q1 24 | -247.7% | -176.8% |
净利率DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | 1211.4% | 2164.1% | ||
| Q2 25 | 777.0% | 8752.7% | ||
| Q1 25 | -270.9% | -3797.2% | ||
| Q4 24 | -77.4% | -555.8% | ||
| Q3 24 | -76.1% | -293.1% | ||
| Q2 24 | -182.5% | -92.0% | ||
| Q1 24 | -234.5% | -46.1% |
每股收益（稀释后）DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | $1.95 | $8.42 | ||
| Q2 25 | $0.84 | $32.60 | ||
| Q1 25 | $-0.55 | $-16.49 | ||
| Q4 24 | $0.55 | $4.49 | ||
| Q3 24 | $-0.05 | $-1.72 | ||
| Q2 24 | $-0.08 | $-0.57 | ||
| Q1 24 | $-0.70 | $-0.31 |
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 | $1.4M | $2.3B |
| 总债务越低越好 | $131.4M | $8.2B |
| 股东权益账面价值 | $243.8M | $44.1B |
| 总资产 | $480.0M | $61.6B |
| 负债/权益比越低杠杆越低 | 0.54× | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资DFDVMSTR
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.4M | $54.3M | ||
| Q2 25 | $595.0K | $50.1M | ||
| Q1 25 | $2.2M | $60.3M | ||
| Q4 24 | $2.8M | $38.1M | ||
| Q3 24 | $2.8M | $46.3M | ||
| Q2 24 | $3.2M | $66.9M | ||
| Q1 24 | $3.9M | $81.3M |
总债务DFDVMSTR
| Q4 25 | — | $8.2B | ||
| Q3 25 | $131.4M | $8.2B | ||
| Q2 25 | $21.2M | $8.2B | ||
| Q1 25 | — | $8.1B | ||
| Q4 24 | $0 | $7.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.6B |
股东权益DFDVMSTR
| Q4 25 | — | $44.1B | ||
| Q3 25 | $243.8M | $52.3B | ||
| Q2 25 | $79.6M | $47.5B | ||
| Q1 25 | $2.8M | $32.2B | ||
| Q4 24 | $3.5M | $18.2B | ||
| Q3 24 | $4.0M | $3.8B | ||
| Q2 24 | $4.3M | $2.8B | ||
| Q1 24 | $5.0M | $2.4B |
总资产DFDVMSTR
| Q4 25 | — | $61.6B | ||
| Q3 25 | $480.0M | $73.6B | ||
| Q2 25 | $107.2M | $64.8B | ||
| Q1 25 | $4.2M | $43.9B | ||
| Q4 24 | $4.4M | $25.8B | ||
| Q3 24 | $4.5M | $8.3B | ||
| Q2 24 | $4.8M | $7.1B | ||
| Q1 24 | $5.5M | $6.4B |
负债/权益比DFDVMSTR
| Q4 25 | — | 0.19× | ||
| Q3 25 | 0.54× | 0.16× | ||
| Q2 25 | 0.27× | 0.17× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | 0.00× | 0.39× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.48× |
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 | $-5.0M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | -0.09× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | $-5.0M | $-8.3M | ||
| Q2 25 | $-1.3M | $-34.9M | ||
| Q1 25 | $-785.6K | $-2.4M | ||
| Q4 24 | $-2.4M | $-17.3M | ||
| Q3 24 | $-412.0K | $-41.0M | ||
| Q2 24 | $-680.8K | $-23.3M | ||
| Q1 24 | $-1.1M | $28.6M |
自由现金流DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | $-11.1M | ||
| Q2 25 | — | $-37.0M | ||
| Q1 25 | — | $-5.1M | ||
| Q4 24 | $-2.4M | $-17.6M | ||
| Q3 24 | — | $-41.4M | ||
| Q2 24 | $-687.4K | $-24.1M | ||
| Q1 24 | $-1.2M | $27.0M |
自由现金流率DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | -8.6% | ||
| Q2 25 | — | -32.3% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | -388.2% | -14.6% | ||
| Q3 24 | — | -35.7% | ||
| Q2 24 | -155.9% | -21.6% | ||
| Q1 24 | -280.3% | 23.5% |
资本支出强度DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | 2.2% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | 3.7% | 0.2% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 1.5% | 0.6% | ||
| Q1 24 | 1.6% | 1.3% |
现金转化率DFDVMSTR
| Q4 25 | — | — | ||
| Q3 25 | -0.09× | -0.00× | ||
| Q2 25 | -0.08× | -0.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
DFDV
| Digital Asset Treasury | $3.8M | 82% |
| Other | $831.0K | 18% |
MSTR
暂无分部数据
