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FEDERATED HERMES, INC.（FHI）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
FEDERATED HERMES, INC.的季度营收约是世纪互联的1.3倍（$479.0M vs $362.7M），FEDERATED HERMES, INC.净利率更高（20.1% vs -10.7%，领先30.8%），过去两年世纪互联的营收复合增速更高（17.4% vs 9.1%）
方德贺明是总部位于美国宾夕法尼亚州匹兹堡的投资管理机构，成立于1955年，1957年10月18日正式注册。截至2025年12月，公司受托管理客户资产规模达9026亿美元，可为客户提供股票、固定收益、另类/私募市场、多资产及流动性管理等多元投资策略，产品覆盖共同基金、ETF、独立账户、封闭式基金和集合投资基金等品类。
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。
FHI vs VNET — 直观对比
营收规模更大
FHI
是对方的1.3倍
$362.7M
净利率更高
FHI
高出30.8%
-10.7%
两年增速更快
VNET
近两年复合增速
9.1%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $479.0M | $362.7M |
| 净利润 | $96.4M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 26.4% | 0.5% |
| 净利率 | 20.1% | -10.7% |
| 营收同比 | -0.8% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | — |
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FHIVNET
| Q1 26 | $479.0M | — | ||
| Q4 25 | $482.8M | — | ||
| Q3 25 | $469.4M | $362.7M | ||
| Q2 25 | $424.8M | — | ||
| Q1 25 | $423.5M | $309.5M | ||
| Q4 24 | $424.7M | — | ||
| Q3 24 | $408.5M | $302.2M | ||
| Q2 24 | $402.6M | $274.4M |
净利润FHIVNET
| Q1 26 | $96.4M | — | ||
| Q4 25 | $107.0M | — | ||
| Q3 25 | $104.1M | $-38.7M | ||
| Q2 25 | $91.0M | — | ||
| Q1 25 | $101.1M | $-2.4M | ||
| Q4 24 | $84.7M | — | ||
| Q3 24 | $87.5M | $-2.1M | ||
| Q2 24 | $21.0M | $-1.1M |
毛利率FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率FHIVNET
| Q1 26 | 26.4% | — | ||
| Q4 25 | 28.1% | — | ||
| Q3 25 | 27.6% | 0.5% | ||
| Q2 25 | 27.6% | — | ||
| Q1 25 | 31.1% | 0.1% | ||
| Q4 24 | 26.0% | — | ||
| Q3 24 | 27.4% | 24.5% | ||
| Q2 24 | 10.1% | 0.2% |
净利率FHIVNET
| Q1 26 | 20.1% | — | ||
| Q4 25 | 22.2% | — | ||
| Q3 25 | 22.2% | -10.7% | ||
| Q2 25 | 21.4% | — | ||
| Q1 25 | 23.9% | -0.8% | ||
| Q4 24 | 19.9% | — | ||
| Q3 24 | 21.4% | -0.7% | ||
| Q2 24 | 5.2% | -0.4% |
每股收益（稀释后）FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | $1.38 | — | ||
| Q3 25 | $1.34 | — | ||
| Q2 25 | $1.16 | — | ||
| Q1 25 | $1.25 | — | ||
| Q4 24 | $1.08 | — | ||
| Q3 24 | $1.06 | — | ||
| Q2 24 | $0.20 | — |
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 | — | $492.1M |
| 总债务越低越好 | $348.4M | — |
| 股东权益账面价值 | $100.8B | $890.8M |
| 总资产 | $2.1B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | $582.5M | — | ||
| Q3 25 | $506.3M | $492.1M | ||
| Q2 25 | $371.0M | — | ||
| Q1 25 | $387.6M | $544.3M | ||
| Q4 24 | $504.4M | — | ||
| Q3 24 | $375.0M | $219.5M | ||
| Q2 24 | $307.4M | $247.2M |
总债务FHIVNET
| Q1 26 | $348.4M | — | ||
| Q4 25 | $348.4M | — | ||
| Q3 25 | $348.3M | — | ||
| Q2 25 | $348.2M | — | ||
| Q1 25 | $348.2M | — | ||
| Q4 24 | $348.1M | — | ||
| Q3 24 | $348.0M | $1.2B | ||
| Q2 24 | $348.0M | — |
股东权益FHIVNET
| Q1 26 | $100.8B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $890.8M | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | $927.8M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $902.9M | ||
| Q2 24 | $1.0B | $900.6M |
总资产FHIVNET
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $6.1B | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.0B | $5.4B | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | $4.3B | ||
| Q2 24 | $1.9B | $4.0B |
负债/权益比FHIVNET
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.29× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.32× | 1.28× | ||
| Q2 24 | 0.34× | — |
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 | — | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | — | 84.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | $297.3M | — | ||
| Q3 25 | $103.1M | $113.8M | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $14.3M | $27.0M | ||
| Q4 24 | $346.6M | — | ||
| Q3 24 | $117.1M | $108.3M | ||
| Q2 24 | $88.7M | $55.8M |
自由现金流FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | $294.6M | — | ||
| Q3 25 | $101.6M | $-193.1M | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $13.3M | $-220.0M | ||
| Q4 24 | $342.5M | — | ||
| Q3 24 | $114.1M | $-95.0M | ||
| Q2 24 | $82.7M | $-81.6M |
自由现金流率FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | 61.0% | — | ||
| Q3 25 | 21.6% | -53.2% | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 3.1% | -71.1% | ||
| Q4 24 | 80.7% | — | ||
| Q3 24 | 27.9% | -31.4% | ||
| Q2 24 | 20.5% | -29.8% |
资本支出强度FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.3% | 84.6% | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | 79.8% | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 0.7% | 67.3% | ||
| Q2 24 | 1.5% | 50.1% |
现金转化率FHIVNET
| Q1 26 | — | — | ||
| Q4 25 | 2.78× | — | ||
| Q3 25 | 0.99× | — | ||
| Q2 25 | 0.21× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 4.09× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 4.22× | — |
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
FHI
| Investment advisory fees, net | $319.4M | 67% |
| Administrative service fees, net-affiliates | $110.3M | 23% |
| Other | $49.3M | 10% |
VNET
暂无分部数据
