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Fortrea Holdings Inc.（FTRE）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
Fortrea Holdings Inc.的季度营收约是世纪互联的1.8倍（$660.5M vs $362.7M），Fortrea Holdings Inc.净利率更高（-4.9% vs -10.7%，领先5.7%），Fortrea Holdings Inc.自由现金流更多（$121.6M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -0.1%）
Fortrea Holdings Inc.是一家总部位于美国北卡罗来纳州达勒姆、注册地为特拉华州的合同研究组织，业务覆盖90个国家，主要服务制药、生物技术和医疗器械行业客户，为相关领域的研发提供专业支持。
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。
FTRE vs VNET — 直观对比
营收规模更大
FTRE
是对方的1.8倍
$362.7M
净利率更高
FTRE
高出5.7%
-10.7%
自由现金流更多
FTRE
多$314.7M
$-193.1M
两年增速更快
VNET
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $660.5M | $362.7M |
| 净利润 | $-32.5M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | -2.1% | 0.5% |
| 净利率 | -4.9% | -10.7% |
| 营收同比 | -5.2% | — |
| 净利润同比 | 46.9% | — |
| 每股收益（稀释后） | $-0.25 | — |
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FTREVNET
| Q4 25 | $660.5M | — | ||
| Q3 25 | $701.3M | $362.7M | ||
| Q2 25 | $710.3M | — | ||
| Q1 25 | $651.3M | $309.5M | ||
| Q4 24 | $697.0M | — | ||
| Q3 24 | $674.9M | $302.2M | ||
| Q2 24 | $662.4M | $274.4M | ||
| Q1 24 | $662.1M | $262.9M |
净利润FTREVNET
| Q4 25 | $-32.5M | — | ||
| Q3 25 | $-15.9M | $-38.7M | ||
| Q2 25 | $-374.9M | — | ||
| Q1 25 | $-562.9M | $-2.4M | ||
| Q4 24 | $-61.2M | — | ||
| Q3 24 | $-27.9M | $-2.1M | ||
| Q2 24 | $-138.4M | $-1.1M | ||
| Q1 24 | $-101.0M | $-22.0M |
毛利率FTREVNET
| 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FTREVNET
| Q4 25 | -2.1% | — | ||
| Q3 25 | -1.2% | 0.5% | ||
| Q2 25 | -46.5% | — | ||
| Q1 25 | -79.9% | 0.1% | ||
| Q4 24 | -8.0% | — | ||
| Q3 24 | -2.7% | 24.5% | ||
| Q2 24 | -7.7% | 0.2% | ||
| Q1 24 | -5.6% | 0.2% |
净利率FTREVNET
| Q4 25 | -4.9% | — | ||
| Q3 25 | -2.3% | -10.7% | ||
| Q2 25 | -52.8% | — | ||
| Q1 25 | -86.4% | -0.8% | ||
| Q4 24 | -8.8% | — | ||
| Q3 24 | -4.1% | -0.7% | ||
| Q2 24 | -20.9% | -0.4% | ||
| Q1 24 | -15.3% | -8.4% |
每股收益（稀释后）FTREVNET
| Q4 25 | $-0.25 | — | ||
| Q3 25 | $-0.17 | — | ||
| Q2 25 | $-4.14 | — | ||
| Q1 25 | $-6.25 | — | ||
| Q4 24 | $-0.68 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $-1.55 | — | ||
| Q1 24 | $-1.13 | — |
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 | $174.6M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $563.5M | $890.8M |
| 总资产 | $2.7B | $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FTREVNET
| Q4 25 | $174.6M | — | ||
| Q3 25 | $131.3M | $492.1M | ||
| Q2 25 | $81.2M | — | ||
| Q1 25 | $101.6M | $544.3M | ||
| Q4 24 | $118.5M | — | ||
| Q3 24 | $105.3M | $219.5M | ||
| Q2 24 | $126.2M | $247.2M | ||
| Q1 24 | $92.8M | $246.9M |
总债务FTREVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FTREVNET
| Q4 25 | $563.5M | — | ||
| Q3 25 | $580.8M | $890.8M | ||
| Q2 25 | $589.2M | — | ||
| Q1 25 | $858.8M | $927.8M | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.5B | $902.9M | ||
| Q2 24 | $1.5B | $900.6M | ||
| Q1 24 | $1.6B | $895.1M |
总资产FTREVNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.7B | $6.1B | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $3.1B | $5.4B | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.7B | $4.3B | ||
| Q2 24 | $3.6B | $4.0B | ||
| Q1 24 | $4.2B | $3.9B |
负债/权益比FTREVNET
| 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 | $129.1M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $121.6M | $-193.1M |
| 自由现金流率自由现金流/营收 | 18.4% | -53.2% |
| 资本支出强度资本支出/营收 | 1.1% | 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 | $88.3M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流FTREVNET
| Q4 25 | $129.1M | — | ||
| Q3 25 | $86.8M | $113.8M | ||
| Q2 25 | $21.8M | — | ||
| Q1 25 | $-124.2M | $27.0M | ||
| Q4 24 | $17.1M | — | ||
| Q3 24 | $-2.4M | $108.3M | ||
| Q2 24 | $273.7M | $55.8M | ||
| Q1 24 | $-25.6M | $37.1M |
自由现金流FTREVNET
| Q4 25 | $121.6M | — | ||
| Q3 25 | $79.5M | $-193.1M | ||
| Q2 25 | $14.3M | — | ||
| Q1 25 | $-127.1M | $-220.0M | ||
| Q4 24 | $13.9M | — | ||
| Q3 24 | $-10.6M | $-95.0M | ||
| Q2 24 | $262.5M | $-81.6M | ||
| Q1 24 | $-34.9M | $-102.2M |
自由现金流率FTREVNET
| Q4 25 | 18.4% | — | ||
| Q3 25 | 11.3% | -53.2% | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | -19.5% | -71.1% | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | -1.6% | -31.4% | ||
| Q2 24 | 39.6% | -29.8% | ||
| Q1 24 | -5.3% | -38.9% |
资本支出强度FTREVNET
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.0% | 84.6% | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 0.4% | 79.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 1.2% | 67.3% | ||
| Q2 24 | 1.7% | 50.1% | ||
| Q1 24 | 1.4% | 53.0% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
