vs
Hyperscale Data, Inc.（GPUS）与Cactus, Inc.（WHD）财务数据对比。点击上方公司名可切换其他公司
Cactus, Inc.的季度营收约是Hyperscale Data, Inc.的9.7倍（$261.2M vs $26.9M）。Cactus, Inc.净利率更高（15.3% vs -112.0%，领先127.2%）。Hyperscale Data, Inc.同比增速更快（38.4% vs -4.0%）。过去两年Cactus, Inc.的营收复合增速更高（-2.4% vs -16.3%）
Hyperscale Data, Inc.主要提供GPU加速计算基础设施及云解决方案，服务于AI开发、大数据处理、高性能计算领域，客户覆盖北美及亚太地区的AI初创企业、大型科技公司与云服务提供商，为复杂数据处理需求交付可扩展的高效计算资源。
Cactus, Inc.旗下拥有Cactus Club Cafe，是源自加拿大不列颠哥伦比亚省北温哥华的高端休闲连锁餐饮品牌。目前品牌已在加拿大全境布局34家门店，覆盖不列颠哥伦比亚、阿尔伯塔、萨斯喀彻温、安大略等省份，同时在美国也设有门店，主打高品质休闲餐饮体验。
GPUS vs WHD — 直观对比
营收规模更大
WHD
是对方的9.7倍
$26.9M
营收增速更快
GPUS
高出42.4%
-4.0%
净利率更高
WHD
高出127.2%
-112.0%
两年增速更快
WHD
近两年复合增速
-16.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $26.9M | $261.2M |
| 净利润 | $-30.1M | $39.8M |
| 毛利率 | 14.5% | 36.2% |
| 营业利润率 | -117.8% | 22.9% |
| 净利率 | -112.0% | 15.3% |
| 营收同比 | 38.4% | -4.0% |
| 净利润同比 | -6670.3% | -14.7% |
| 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GPUSWHD
| Q4 25 | $26.9M | $261.2M | ||
| Q3 25 | $24.3M | $264.0M | ||
| Q2 25 | $25.9M | $273.6M | ||
| Q1 25 | $25.0M | $280.3M | ||
| Q4 24 | $19.4M | $272.1M | ||
| Q3 24 | $31.1M | $293.2M | ||
| Q2 24 | $17.8M | $290.4M | ||
| Q1 24 | $38.4M | $274.1M |
净利润GPUSWHD
| Q4 25 | $-30.1M | $39.8M | ||
| Q3 25 | $-13.0M | $41.6M | ||
| Q2 25 | $-19.1M | $40.3M | ||
| Q1 25 | $-4.2M | $44.2M | ||
| Q4 24 | $-445.0K | $46.7M | ||
| Q3 24 | $-25.5M | $49.9M | ||
| Q2 24 | $-33.9M | $49.8M | ||
| Q1 24 | $3.7M | $39.0M |
毛利率GPUSWHD
| Q4 25 | 14.5% | 36.2% | ||
| Q3 25 | 25.8% | 36.8% | ||
| Q2 25 | 23.7% | 36.6% | ||
| Q1 25 | 21.1% | 38.4% | ||
| Q4 24 | 6.5% | 37.8% | ||
| Q3 24 | 27.5% | 39.0% | ||
| Q2 24 | -21.3% | 39.2% | ||
| Q1 24 | 47.4% | 38.4% |
营业利润率GPUSWHD
| Q4 25 | -117.8% | 22.9% | ||
| Q3 25 | -57.8% | 23.2% | ||
| Q2 25 | -39.2% | 22.2% | ||
| Q1 25 | -25.5% | 24.5% | ||
| Q4 24 | -46.8% | 25.9% | ||
| Q3 24 | -79.2% | 26.2% | ||
| Q2 24 | -151.4% | 27.5% | ||
| Q1 24 | 9.5% | 22.8% |
净利率GPUSWHD
| Q4 25 | -112.0% | 15.3% | ||
| Q3 25 | -53.5% | 15.8% | ||
| Q2 25 | -73.7% | 14.7% | ||
| Q1 25 | -16.8% | 15.8% | ||
| Q4 24 | -2.3% | 17.2% | ||
| Q3 24 | -82.3% | 17.0% | ||
| Q2 24 | -190.7% | 17.2% | ||
| Q1 24 | 9.7% | 14.2% |
每股收益（稀释后）GPUSWHD
| Q4 25 | — | — | ||
| Q3 25 | $-0.39 | — | ||
| Q2 25 | $-2.66 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-8.78 | — | ||
| Q3 24 | $-24.82 | — | ||
| Q2 24 | $-37.81 | — | ||
| Q1 24 | $3.32 | — |
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 | $13.1M | $123.6M |
| 总债务越低越好 | $83.1M | $0 |
| 股东权益账面价值 | $119.8M | $1.2B |
| 总资产 | $313.7M | $1.9B |
| 负债/权益比越低杠杆越低 | 0.69× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资GPUSWHD
| Q4 25 | $13.1M | $123.6M | ||
| Q3 25 | $24.8M | $445.6M | ||
| Q2 25 | $5.9M | $405.2M | ||
| Q1 25 | $4.2M | $347.7M | ||
| Q4 24 | $4.5M | $342.8M | ||
| Q3 24 | $7.9M | $303.4M | ||
| Q2 24 | $9.6M | $246.5M | ||
| Q1 24 | $18.9M | $194.3M |
总债务GPUSWHD
| Q4 25 | $83.1M | $0 | ||
| Q3 25 | $80.0M | $0 | ||
| Q2 25 | $88.5M | $0 | ||
| Q1 25 | $92.8M | $0 | ||
| Q4 24 | $96.7M | $0 | ||
| Q3 24 | $104.8M | $0 | ||
| Q2 24 | $106.8M | $0 | ||
| Q1 24 | $30.0M | $0 |
股东权益GPUSWHD
| Q4 25 | $119.8M | $1.2B | ||
| Q3 25 | $55.9M | $1.2B | ||
| Q2 25 | $5.5M | $1.1B | ||
| Q1 25 | $6.3M | $1.1B | ||
| Q4 24 | $8.6M | $1.1B | ||
| Q3 24 | $2.7M | $1.0B | ||
| Q2 24 | $26.7M | $954.7M | ||
| Q1 24 | $59.0M | $893.4M |
总资产GPUSWHD
| Q4 25 | $313.7M | $1.9B | ||
| Q3 25 | $242.4M | $1.9B | ||
| Q2 25 | $213.5M | $1.8B | ||
| Q1 25 | $218.5M | $1.8B | ||
| Q4 24 | $220.8M | $1.7B | ||
| Q3 24 | $231.5M | $1.7B | ||
| Q2 24 | $270.8M | $1.6B | ||
| Q1 24 | $299.8M | $1.6B |
负债/权益比GPUSWHD
| Q4 25 | 0.69× | 0.00× | ||
| Q3 25 | 1.43× | 0.00× | ||
| Q2 25 | 16.06× | 0.00× | ||
| Q1 25 | 14.71× | 0.00× | ||
| Q4 24 | 11.19× | 0.00× | ||
| Q3 24 | 38.41× | 0.00× | ||
| Q2 24 | 4.00× | 0.00× | ||
| Q1 24 | 0.51× | 0.00× |
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 | $-37.7M | $72.3M |
| 自由现金流经营现金流 - 资本支出 | $-56.2M | — |
| 自由现金流率自由现金流/营收 | -208.7% | — |
| 资本支出强度资本支出/营收 | 68.6% | — |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 过去12个月自由现金流最近4个季度 | $-87.1M | — |
8季度趋势，按日历期对齐
经营现金流GPUSWHD
| Q4 25 | $-37.7M | $72.3M | ||
| Q3 25 | $-17.8M | $61.8M | ||
| Q2 25 | $-3.1M | $82.8M | ||
| Q1 25 | $-4.0M | $41.5M | ||
| Q4 24 | $-9.2M | $66.6M | ||
| Q3 24 | $3.7M | $85.3M | ||
| Q2 24 | $-3.7M | $78.0M | ||
| Q1 24 | $-10.2M | $86.3M |
自由现金流GPUSWHD
| Q4 25 | $-56.2M | — | ||
| Q3 25 | $-20.6M | — | ||
| Q2 25 | $-3.5M | — | ||
| Q1 25 | $-6.8M | — | ||
| Q4 24 | $-9.3M | — | ||
| Q3 24 | $2.6M | — | ||
| Q2 24 | $-5.9M | — | ||
| Q1 24 | $-11.6M | — |
自由现金流率GPUSWHD
| Q4 25 | -208.7% | — | ||
| Q3 25 | -84.5% | — | ||
| Q2 25 | -13.5% | — | ||
| Q1 25 | -27.3% | — | ||
| Q4 24 | -47.6% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | -33.4% | — | ||
| Q1 24 | -30.3% | — |
资本支出强度GPUSWHD
| Q4 25 | 68.6% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 11.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 3.7% | — |
现金转化率GPUSWHD
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.48× | ||
| Q2 25 | — | 2.05× | ||
| Q1 25 | — | 0.94× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.71× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | -2.75× | 2.21× |
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
GPUS
| Transferred Over Time | $10.4M | 39% |
| Revenue From Mined Crypto Assets At Sentinum Owned And Operated Facilities | $5.8M | 21% |
| Hotel And Real Estate Operations | $4.8M | 18% |
| Other | $4.0M | 15% |
| Turn On Green | $2.0M | 7% |
WHD
| Products | $201.4M | 77% |
| Other | $40.8M | 16% |
| Rental Revenue | $19.0M | 7% |
