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Empire State Realty Trust, Inc.（ESRT）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Empire State Realty Trust, Inc.的1.8倍（$362.7M vs $199.2M），Empire State Realty Trust, Inc.净利率更高（16.1% vs -10.7%，领先26.8%），Empire State Realty Trust, Inc.自由现金流更多（$50.6M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 4.9%）
帝国州房地产信托是一家美国房地产投资信托企业，持有并运营纽约大都会区的优质办公、零售及住宅物业，旗下资产包括地标性建筑帝国大厦，主打可持续运营模式，服务各类租户及住户，专注实现长期资产增值。
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。
ESRT vs VNET — 直观对比
营收规模更大
VNET
是对方的1.8倍
$199.2M
净利率更高
ESRT
高出26.8%
-10.7%
自由现金流更多
ESRT
多$243.6M
$-193.1M
两年增速更快
VNET
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.2M | $362.7M |
| 净利润 | $32.2M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 17.8% | 0.5% |
| 净利率 | 16.1% | -10.7% |
| 营收同比 | 0.8% | — |
| 净利润同比 | 71.2% | — |
| 每股收益（稀释后） | $0.11 | — |
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ESRTVNET
| Q4 25 | $199.2M | — | ||
| Q3 25 | $197.7M | $362.7M | ||
| Q2 25 | $191.3M | — | ||
| Q1 25 | $180.1M | $309.5M | ||
| Q4 24 | $197.6M | — | ||
| Q3 24 | $199.6M | $302.2M | ||
| Q2 24 | $189.5M | $274.4M | ||
| Q1 24 | $181.2M | $262.9M |
净利润ESRTVNET
| Q4 25 | $32.2M | — | ||
| Q3 25 | $13.6M | $-38.7M | ||
| Q2 25 | $11.4M | — | ||
| Q1 25 | $15.8M | $-2.4M | ||
| Q4 24 | $18.8M | — | ||
| Q3 24 | $22.8M | $-2.1M | ||
| Q2 24 | $28.6M | $-1.1M | ||
| Q1 24 | $10.2M | $-22.0M |
毛利率ESRTVNET
| 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ESRTVNET
| Q4 25 | 17.8% | — | ||
| Q3 25 | 19.9% | 0.5% | ||
| Q2 25 | 18.4% | — | ||
| Q1 25 | 14.3% | 0.1% | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 22.7% | 24.5% | ||
| Q2 24 | 20.8% | 0.2% | ||
| Q1 24 | 17.1% | 0.2% |
净利率ESRTVNET
| Q4 25 | 16.1% | — | ||
| Q3 25 | 6.9% | -10.7% | ||
| Q2 25 | 6.0% | — | ||
| Q1 25 | 8.8% | -0.8% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 11.4% | -0.7% | ||
| Q2 24 | 15.1% | -0.4% | ||
| Q1 24 | 5.6% | -8.4% |
每股收益（稀释后）ESRTVNET
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.05 | — | ||
| Q2 25 | $0.04 | — | ||
| Q1 25 | $0.05 | — | ||
| Q4 24 | $0.07 | — | ||
| Q3 24 | $0.08 | — | ||
| Q2 24 | $0.10 | — | ||
| Q1 24 | $0.03 | — |
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 | $132.7M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $890.8M |
| 总资产 | $4.5B | $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ESRTVNET
| Q4 25 | $132.7M | — | ||
| Q3 25 | $154.1M | $492.1M | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $187.8M | $544.3M | ||
| Q4 24 | $385.5M | — | ||
| Q3 24 | $421.9M | $219.5M | ||
| Q2 24 | $535.5M | $247.2M | ||
| Q1 24 | $333.6M | $246.9M |
总债务ESRTVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ESRTVNET
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.0B | $890.8M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | $927.8M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | $902.9M | ||
| Q2 24 | $1.0B | $900.6M | ||
| Q1 24 | $996.1M | $895.1M |
总资产ESRTVNET
| Q4 25 | $4.5B | — | ||
| Q3 25 | $4.1B | $6.1B | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.1B | $5.4B | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.4B | $4.3B | ||
| Q2 24 | $4.4B | $4.0B | ||
| Q1 24 | $4.2B | $3.9B |
负债/权益比ESRTVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $249.1M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $50.6M | $-193.1M |
| 自由现金流率自由现金流/营收 | 25.4% | -53.2% |
| 资本支出强度资本支出/营收 | 99.6% | 84.6% |
| 现金转化率经营现金流/净利润 | 7.74× | — |
| 过去12个月自由现金流最近4个季度 | $109.3M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流ESRTVNET
| Q4 25 | $249.1M | — | ||
| Q3 25 | $105.3M | $113.8M | ||
| Q2 25 | $26.7M | — | ||
| Q1 25 | $83.1M | $27.0M | ||
| Q4 24 | $260.9M | — | ||
| Q3 24 | $102.8M | $108.3M | ||
| Q2 24 | $37.1M | $55.8M | ||
| Q1 24 | $70.9M | $37.1M |
自由现金流ESRTVNET
| Q4 25 | $50.6M | — | ||
| Q3 25 | $72.8M | $-193.1M | ||
| Q2 25 | $-55.1M | — | ||
| Q1 25 | $41.1M | $-220.0M | ||
| Q4 24 | $88.0M | — | ||
| Q3 24 | $-65.1M | $-95.0M | ||
| Q2 24 | $19.5M | $-81.6M | ||
| Q1 24 | $23.2M | $-102.2M |
自由现金流率ESRTVNET
| Q4 25 | 25.4% | — | ||
| Q3 25 | 36.8% | -53.2% | ||
| Q2 25 | -28.8% | — | ||
| Q1 25 | 22.8% | -71.1% | ||
| Q4 24 | 44.5% | — | ||
| Q3 24 | -32.6% | -31.4% | ||
| Q2 24 | 10.3% | -29.8% | ||
| Q1 24 | 12.8% | -38.9% |
资本支出强度ESRTVNET
| Q4 25 | 99.6% | — | ||
| Q3 25 | 16.5% | 84.6% | ||
| Q2 25 | 42.8% | — | ||
| Q1 25 | 23.4% | 79.8% | ||
| Q4 24 | 87.5% | — | ||
| Q3 24 | 84.1% | 67.3% | ||
| Q2 24 | 9.3% | 50.1% | ||
| Q1 24 | 26.3% | 53.0% |
现金转化率ESRTVNET
| Q4 25 | 7.74× | — | ||
| Q3 25 | 7.72× | — | ||
| Q2 25 | 2.35× | — | ||
| Q1 25 | 5.27× | — | ||
| Q4 24 | 13.88× | — | ||
| Q3 24 | 4.51× | — | ||
| Q2 24 | 1.30× | — | ||
| Q1 24 | 6.94× | — |
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
ESRT
| Real Estate Segment | $163.8M | 82% |
| Observatory Segment | $35.2M | 18% |
VNET
暂无分部数据
