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进步能源（FLNC）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
进步能源的季度营收约是世纪互联的1.3倍（$475.2M vs $362.7M），进步能源净利率更高（-9.5% vs -10.7%，领先1.2%），世纪互联自由现金流更多（$-193.1M vs $-232.6M），过去两年世纪互联的营收复合增速更高（17.4% vs -12.7%）
进步能源是一家电力生产与分销企业，并入杜克能源前为财富500强能源企业，总发电容量超21000兆瓦，年营收达90亿美元。公司总部位于北卡罗来纳州罗利，旗下拥有两家大型电力公用事业公司，为卡罗来纳州及佛罗里达州约310万用户提供服务。
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。
FLNC vs VNET — 直观对比
营收规模更大
FLNC
是对方的1.3倍
$362.7M
净利率更高
FLNC
高出1.2%
-10.7%
自由现金流更多
VNET
多$39.5M
$-232.6M
两年增速更快
VNET
近两年复合增速
-12.7%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $475.2M | $362.7M |
| 净利润 | $-45.1M | $-38.7M |
| 毛利率 | 4.9% | 20.9% |
| 营业利润率 | -14.8% | 0.5% |
| 净利率 | -9.5% | -10.7% |
| 营收同比 | 154.4% | — |
| 净利润同比 | -8.7% | — |
| 每股收益（稀释后） | $-0.34 | — |
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FLNCVNET
| Q4 25 | $475.2M | — | ||
| Q3 25 | $1.0B | $362.7M | ||
| Q2 25 | $602.5M | — | ||
| Q1 25 | $431.6M | $309.5M | ||
| Q4 24 | $186.8M | — | ||
| Q3 24 | $1.2B | $302.2M | ||
| Q2 24 | $483.3M | $274.4M | ||
| Q1 24 | $623.1M | $262.9M |
净利润FLNCVNET
| Q4 25 | $-45.1M | — | ||
| Q3 25 | $17.9M | $-38.7M | ||
| Q2 25 | $6.3M | — | ||
| Q1 25 | $-31.0M | $-2.4M | ||
| Q4 24 | $-41.5M | — | ||
| Q3 24 | $47.8M | $-2.1M | ||
| Q2 24 | $785.0K | $-1.1M | ||
| Q1 24 | $-9.2M | $-22.0M |
毛利率FLNCVNET
| Q4 25 | 4.9% | — | ||
| Q3 25 | 13.7% | 20.9% | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 9.9% | 25.2% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 12.8% | 23.2% | ||
| Q2 24 | 17.2% | 21.3% | ||
| Q1 24 | 10.3% | 21.6% |
营业利润率FLNCVNET
| Q4 25 | -14.8% | — | ||
| Q3 25 | 4.4% | 0.5% | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | -10.2% | 0.1% | ||
| Q4 24 | -31.4% | — | ||
| Q3 24 | 6.2% | 24.5% | ||
| Q2 24 | 1.1% | 0.2% | ||
| Q1 24 | -2.3% | 0.2% |
净利率FLNCVNET
| Q4 25 | -9.5% | — | ||
| Q3 25 | 1.7% | -10.7% | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | -7.2% | -0.8% | ||
| Q4 24 | -22.2% | — | ||
| Q3 24 | 3.9% | -0.7% | ||
| Q2 24 | 0.2% | -0.4% | ||
| Q1 24 | -1.5% | -8.4% |
每股收益（稀释后）FLNCVNET
| Q4 25 | $-0.34 | — | ||
| Q3 25 | $0.18 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $-0.32 | — | ||
| Q3 24 | $0.34 | — | ||
| Q2 24 | $0.00 | — | ||
| Q1 24 | $-0.07 | — |
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 | $452.6M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $388.0M | $890.8M |
| 总资产 | $2.3B | $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FLNCVNET
| Q4 25 | $452.6M | — | ||
| Q3 25 | $690.8M | $492.1M | ||
| Q2 25 | $436.3M | — | ||
| Q1 25 | $568.6M | $544.3M | ||
| Q4 24 | $607.4M | — | ||
| Q3 24 | $448.7M | $219.5M | ||
| Q2 24 | $388.2M | $247.2M | ||
| Q1 24 | $411.8M | $246.9M |
总债务FLNCVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FLNCVNET
| Q4 25 | $388.0M | — | ||
| Q3 25 | $429.6M | $890.8M | ||
| Q2 25 | $407.4M | — | ||
| Q1 25 | $388.2M | $927.8M | ||
| Q4 24 | $409.4M | — | ||
| Q3 24 | $472.1M | $902.9M | ||
| Q2 24 | $421.2M | $900.6M | ||
| Q1 24 | $413.1M | $895.1M |
总资产FLNCVNET
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.4B | $6.1B | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | $5.4B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.9B | $4.3B | ||
| Q2 24 | $1.7B | $4.0B | ||
| Q1 24 | $1.5B | $3.9B |
负债/权益比FLNCVNET
| 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 | $-226.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-232.6M | $-193.1M |
| 自由现金流率自由现金流/营收 | -48.9% | -53.2% |
| 资本支出强度资本支出/营收 | 1.2% | 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 | $-179.7M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流FLNCVNET
| Q4 25 | $-226.8M | — | ||
| Q3 25 | $265.7M | $113.8M | ||
| Q2 25 | $-153.9M | — | ||
| Q1 25 | $-46.2M | $27.0M | ||
| Q4 24 | $-211.2M | — | ||
| Q3 24 | $10.5M | $108.3M | ||
| Q2 24 | $-21.1M | $55.8M | ||
| Q1 24 | $70.9M | $37.1M |
自由现金流FLNCVNET
| Q4 25 | $-232.6M | — | ||
| Q3 25 | $260.9M | $-193.1M | ||
| Q2 25 | $-157.4M | — | ||
| Q1 25 | $-50.5M | $-220.0M | ||
| Q4 24 | $-213.3M | — | ||
| Q3 24 | $7.3M | $-95.0M | ||
| Q2 24 | $-23.5M | $-81.6M | ||
| Q1 24 | $69.9M | $-102.2M |
自由现金流率FLNCVNET
| Q4 25 | -48.9% | — | ||
| Q3 25 | 25.0% | -53.2% | ||
| Q2 25 | -26.1% | — | ||
| Q1 25 | -11.7% | -71.1% | ||
| Q4 24 | -114.2% | — | ||
| Q3 24 | 0.6% | -31.4% | ||
| Q2 24 | -4.9% | -29.8% | ||
| Q1 24 | 11.2% | -38.9% |
资本支出强度FLNCVNET
| Q4 25 | 1.2% | — | ||
| Q3 25 | 0.5% | 84.6% | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 1.0% | 79.8% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 0.3% | 67.3% | ||
| Q2 24 | 0.5% | 50.1% | ||
| Q1 24 | 0.2% | 53.0% |
现金转化率FLNCVNET
| Q4 25 | — | — | ||
| Q3 25 | 14.81× | — | ||
| Q2 25 | -24.61× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.22× | — | ||
| Q2 24 | -26.87× | — | ||
| 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
FLNC
| Products | $450.9M | 95% |
| Services | $22.5M | 5% |
| Digital Applications And Solutions | $1.9M | 0% |
VNET
暂无分部数据
