vs
DHT Holdings, Inc.（DHT）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DHT Holdings, Inc.的1.1倍（$123.0M vs $107.3M），微策略同比增速更快（1.9% vs -24.5%）
DHT控股是一家独立的国际原油运输企业，持有并运营大型原油运输船队，主要服务全球油气行业，为头部石油生产商、炼油厂和大宗商品贸易商提供跨国际核心贸易航线的原油海运服务。
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。
DHT vs MSTR — 直观对比
营收规模更大
MSTR
是对方的1.1倍
$107.3M
营收增速更快
MSTR
高出26.4%
-24.5%
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $107.3M | $123.0M |
| 净利润 | $44.8M | — |
| 毛利率 | — | 66.1% |
| 营业利润率 | 44.2% | — |
| 净利率 | 41.7% | — |
| 营收同比 | -24.5% | 1.9% |
| 净利润同比 | 27.3% | — |
| 每股收益（稀释后） | $0.28 | — |
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DHTMSTR
| Q4 25 | — | $123.0M | ||
| Q3 25 | $107.3M | $128.7M | ||
| Q2 25 | — | $114.5M | ||
| Q1 25 | — | $111.1M | ||
| Q4 24 | — | $120.7M | ||
| Q3 24 | $142.1M | $116.1M | ||
| Q2 24 | — | $111.4M | ||
| Q1 24 | — | $115.2M |
净利润DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | $44.8M | $2.8B | ||
| Q2 25 | — | $10.0B | ||
| Q1 25 | — | $-4.2B | ||
| Q4 24 | — | $-670.8M | ||
| Q3 24 | $35.2M | $-340.2M | ||
| Q2 24 | — | $-102.6M | ||
| Q1 24 | — | $-53.1M |
毛利率DHTMSTR
| Q4 25 | — | 66.1% | ||
| Q3 25 | — | 70.5% | ||
| Q2 25 | — | 68.8% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 71.7% | ||
| Q3 24 | — | 70.4% | ||
| Q2 24 | — | 72.2% | ||
| Q1 24 | — | 74.0% |
营业利润率DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | 44.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -5331.4% | ||
| Q4 24 | — | -842.1% | ||
| Q3 24 | 29.7% | -372.7% | ||
| Q2 24 | — | -179.7% | ||
| Q1 24 | — | -176.8% |
净利率DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | 41.7% | 2164.1% | ||
| Q2 25 | — | 8752.7% | ||
| Q1 25 | — | -3797.2% | ||
| Q4 24 | — | -555.8% | ||
| Q3 24 | 24.8% | -293.1% | ||
| Q2 24 | — | -92.0% | ||
| Q1 24 | — | -46.1% |
每股收益（稀释后）DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | $0.28 | $8.42 | ||
| Q2 25 | — | $32.60 | ||
| Q1 25 | — | $-16.49 | ||
| Q4 24 | — | $4.49 | ||
| Q3 24 | $0.22 | $-1.72 | ||
| Q2 24 | — | $-0.57 | ||
| Q1 24 | — | $-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 | $81.3M | $2.3B |
| 总债务越低越好 | — | $8.2B |
| 股东权益账面价值 | $1.1B | $44.1B |
| 总资产 | $1.4B | $61.6B |
| 负债/权益比越低杠杆越低 | — | 0.19× |
8季度趋势，按日历期对齐
现金及短期投资DHTMSTR
| Q4 25 | — | $2.3B | ||
| Q3 25 | $81.3M | $54.3M | ||
| Q2 25 | — | $50.1M | ||
| Q1 25 | — | $60.3M | ||
| Q4 24 | — | $38.1M | ||
| Q3 24 | $73.8M | $46.3M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $81.3M |
总债务DHTMSTR
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | $8.2B | ||
| Q2 25 | — | $8.2B | ||
| Q1 25 | — | $8.1B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | — | $3.6B |
股东权益DHTMSTR
| Q4 25 | — | $44.1B | ||
| Q3 25 | $1.1B | $52.3B | ||
| Q2 25 | — | $47.5B | ||
| Q1 25 | — | $32.2B | ||
| Q4 24 | — | $18.2B | ||
| Q3 24 | $1.0B | $3.8B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.4B |
总资产DHTMSTR
| Q4 25 | — | $61.6B | ||
| Q3 25 | $1.4B | $73.6B | ||
| Q2 25 | — | $64.8B | ||
| Q1 25 | — | $43.9B | ||
| Q4 24 | — | $25.8B | ||
| Q3 24 | $1.5B | $8.3B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $6.4B |
负债/权益比DHTMSTR
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 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 | $60.9M | — |
| 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 | — | — |
| 现金转化率经营现金流/净利润 | 1.36× | — |
| 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DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | $60.9M | $-8.3M | ||
| Q2 25 | — | $-34.9M | ||
| Q1 25 | — | $-2.4M | ||
| Q4 24 | — | $-17.3M | ||
| Q3 24 | $80.1M | $-41.0M | ||
| Q2 24 | — | $-23.3M | ||
| Q1 24 | — | $28.6M |
自由现金流DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | $-11.1M | ||
| Q2 25 | — | $-37.0M | ||
| Q1 25 | — | $-5.1M | ||
| Q4 24 | — | $-17.6M | ||
| Q3 24 | — | $-41.4M | ||
| Q2 24 | — | $-24.1M | ||
| Q1 24 | — | $27.0M |
自由现金流率DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | -8.6% | ||
| Q2 25 | — | -32.3% | ||
| Q1 25 | — | -4.6% | ||
| Q4 24 | — | -14.6% | ||
| Q3 24 | — | -35.7% | ||
| Q2 24 | — | -21.6% | ||
| Q1 24 | — | 23.5% |
资本支出强度DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 1.3% |
现金转化率DHTMSTR
| Q4 25 | — | — | ||
| Q3 25 | 1.36× | -0.00× | ||
| Q2 25 | — | -0.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.28× | — | ||
| 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
