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DT Midstream, Inc.（DTM）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是DT Midstream, Inc.的1.1倍（$362.7M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs -10.7%，领先45.7%），DT Midstream, Inc.自由现金流更多（$30.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 14.9%）
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
DTM vs VNET — 直观对比
营收规模更大
VNET
是对方的1.1倍
$317.0M
净利率更高
DTM
高出45.7%
-10.7%
自由现金流更多
DTM
多$223.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
14.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $362.7M |
| 净利润 | $111.0M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 49.2% | 0.5% |
| 净利率 | 35.0% | -10.7% |
| 营收同比 | 27.3% | — |
| 净利润同比 | 52.1% | — |
| 每股收益（稀释后） | $1.07 | — |
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DTMVNET
| Q4 25 | $317.0M | — | ||
| Q3 25 | $314.0M | $362.7M | ||
| Q2 25 | $309.0M | — | ||
| Q1 25 | $303.0M | $309.5M | ||
| Q4 24 | $249.0M | — | ||
| Q3 24 | $248.0M | $302.2M | ||
| Q2 24 | $244.0M | $274.4M | ||
| Q1 24 | $240.0M | $262.9M |
净利润DTMVNET
| Q4 25 | $111.0M | — | ||
| Q3 25 | $115.0M | $-38.7M | ||
| Q2 25 | $107.0M | — | ||
| Q1 25 | $108.0M | $-2.4M | ||
| Q4 24 | $73.0M | — | ||
| Q3 24 | $88.0M | $-2.1M | ||
| Q2 24 | $96.0M | $-1.1M | ||
| Q1 24 | $97.0M | $-22.0M |
毛利率DTMVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率DTMVNET
| Q4 25 | 49.2% | — | ||
| Q3 25 | 49.4% | 0.5% | ||
| Q2 25 | 50.2% | — | ||
| Q1 25 | 48.8% | 0.1% | ||
| Q4 24 | 45.4% | — | ||
| Q3 24 | 49.2% | 24.5% | ||
| Q2 24 | 53.3% | 0.2% | ||
| Q1 24 | 51.7% | 0.2% |
净利率DTMVNET
| Q4 25 | 35.0% | — | ||
| Q3 25 | 36.6% | -10.7% | ||
| Q2 25 | 34.6% | — | ||
| Q1 25 | 35.6% | -0.8% | ||
| Q4 24 | 29.3% | — | ||
| Q3 24 | 35.5% | -0.7% | ||
| Q2 24 | 39.3% | -0.4% | ||
| Q1 24 | 40.4% | -8.4% |
每股收益（稀释后）DTMVNET
| Q4 25 | $1.07 | — | ||
| Q3 25 | $1.13 | — | ||
| Q2 25 | $1.04 | — | ||
| Q1 25 | $1.06 | — | ||
| Q4 24 | $0.73 | — | ||
| Q3 24 | $0.90 | — | ||
| Q2 24 | $0.98 | — | ||
| Q1 24 | $0.99 | — |
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 | $54.0M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.7B | $890.8M |
| 总资产 | $10.1B | $6.1B |
| 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DTMVNET
| Q4 25 | $54.0M | — | ||
| Q3 25 | $98.0M | $492.1M | ||
| Q2 25 | $74.0M | — | ||
| Q1 25 | $83.0M | $544.3M | ||
| Q4 24 | $68.0M | — | ||
| Q3 24 | $77.0M | $219.5M | ||
| Q2 24 | $73.0M | $247.2M | ||
| Q1 24 | $41.0M | $246.9M |
总债务DTMVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DTMVNET
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.7B | $890.8M | ||
| Q2 25 | $4.7B | — | ||
| Q1 25 | $4.6B | $927.8M | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.2B | $902.9M | ||
| Q2 24 | $4.2B | $900.6M | ||
| Q1 24 | $4.2B | $895.1M |
总资产DTMVNET
| Q4 25 | $10.1B | — | ||
| Q3 25 | $10.1B | $6.1B | ||
| Q2 25 | $10.0B | — | ||
| Q1 25 | $9.9B | $5.4B | ||
| Q4 24 | $9.9B | — | ||
| Q3 24 | $8.6B | $4.3B | ||
| Q2 24 | $9.0B | $4.0B | ||
| Q1 24 | $9.0B | $3.9B |
负债/权益比DTMVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.72× | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 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 | $161.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $30.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 9.5% | -53.2% |
| 资本支出强度资本支出/营收 | 41.3% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | $441.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流DTMVNET
| Q4 25 | $161.0M | — | ||
| Q3 25 | $274.0M | $113.8M | ||
| Q2 25 | $185.0M | — | ||
| Q1 25 | $247.0M | $27.0M | ||
| Q4 24 | $152.0M | — | ||
| Q3 24 | $205.0M | $108.3M | ||
| Q2 24 | $165.0M | $55.8M | ||
| Q1 24 | $241.0M | $37.1M |
自由现金流DTMVNET
| Q4 25 | $30.0M | — | ||
| Q3 25 | $131.0M | $-193.1M | ||
| Q2 25 | $104.0M | — | ||
| Q1 25 | $176.0M | $-220.0M | ||
| Q4 24 | $62.0M | — | ||
| Q3 24 | $124.0M | $-95.0M | ||
| Q2 24 | $84.0M | $-81.6M | ||
| Q1 24 | $143.0M | $-102.2M |
自由现金流率DTMVNET
| Q4 25 | 9.5% | — | ||
| Q3 25 | 41.7% | -53.2% | ||
| Q2 25 | 33.7% | — | ||
| Q1 25 | 58.1% | -71.1% | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 50.0% | -31.4% | ||
| Q2 24 | 34.4% | -29.8% | ||
| Q1 24 | 59.6% | -38.9% |
资本支出强度DTMVNET
| Q4 25 | 41.3% | — | ||
| Q3 25 | 45.5% | 84.6% | ||
| Q2 25 | 26.2% | — | ||
| Q1 25 | 23.4% | 79.8% | ||
| Q4 24 | 36.1% | — | ||
| Q3 24 | 32.7% | 67.3% | ||
| Q2 24 | 33.2% | 50.1% | ||
| Q1 24 | 40.8% | 53.0% |
现金转化率DTMVNET
| Q4 25 | 1.45× | — | ||
| Q3 25 | 2.38× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.72× | — | ||
| Q1 24 | 2.48× | — |
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
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
VNET
暂无分部数据
