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汉美驰（HBB）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汉美驰的1.7倍（$362.7M vs $212.9M），汉美驰净利率更高（8.7% vs -10.7%，领先19.4%），汉美驰自由现金流更多（$27.9M vs $-193.1M），过去两年汉美驰的营收复合增速更高（28.8% vs 17.4%）
汉美驰品牌控股公司是美国家电与商用餐厨设备设计营销企业，核心业务覆盖美加墨地区，主要推出搅拌机、料理机、烤面包机、慢炖锅、电熨斗、空气净化器等家用及商用设备，在北美家电市场拥有较高知名度。
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。
HBB vs VNET — 直观对比
营收规模更大
VNET
是对方的1.7倍
$212.9M
净利率更高
HBB
高出19.4%
-10.7%
自由现金流更多
HBB
多$221.0M
$-193.1M
两年增速更快
HBB
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $362.7M |
| 净利润 | $18.5M | $-38.7M |
| 毛利率 | 28.3% | 20.9% |
| 营业利润率 | 11.9% | 0.5% |
| 净利率 | 8.7% | -10.7% |
| 营收同比 | -0.3% | — |
| 净利润同比 | -22.7% | — |
| 每股收益（稀释后） | $1.37 | — |
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HBBVNET
| Q4 25 | $212.9M | — | ||
| Q3 25 | $132.8M | $362.7M | ||
| Q2 25 | $127.8M | — | ||
| Q1 25 | $133.4M | $309.5M | ||
| Q4 24 | $213.5M | — | ||
| Q3 24 | $156.7M | $302.2M | ||
| Q2 24 | $156.2M | $274.4M | ||
| Q1 24 | $128.3M | $262.9M |
净利润HBBVNET
| Q4 25 | $18.5M | — | ||
| Q3 25 | $1.7M | $-38.7M | ||
| Q2 25 | $4.5M | — | ||
| Q1 25 | $1.8M | $-2.4M | ||
| Q4 24 | $24.0M | — | ||
| Q3 24 | $1.9M | $-2.1M | ||
| Q2 24 | $6.0M | $-1.1M | ||
| Q1 24 | $-1.2M | $-22.0M |
毛利率HBBVNET
| Q4 25 | 28.3% | — | ||
| Q3 25 | 21.1% | 20.9% | ||
| Q2 25 | 27.5% | — | ||
| Q1 25 | 24.6% | 25.2% | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 28.0% | 23.2% | ||
| Q2 24 | 25.9% | 21.3% | ||
| Q1 24 | 23.4% | 21.6% |
营业利润率HBBVNET
| Q4 25 | 11.9% | — | ||
| Q3 25 | 2.2% | 0.5% | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 1.7% | 0.1% | ||
| Q4 24 | 11.0% | — | ||
| Q3 24 | 6.8% | 24.5% | ||
| Q2 24 | 6.4% | 0.2% | ||
| Q1 24 | -0.7% | 0.2% |
净利率HBBVNET
| Q4 25 | 8.7% | — | ||
| Q3 25 | 1.2% | -10.7% | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | 1.4% | -0.8% | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | 1.2% | -0.7% | ||
| Q2 24 | 3.8% | -0.4% | ||
| Q1 24 | -0.9% | -8.4% |
每股收益（稀释后）HBBVNET
| Q4 25 | $1.37 | — | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.33 | — | ||
| Q1 25 | $0.13 | — | ||
| Q4 24 | $1.72 | — | ||
| Q3 24 | $0.14 | — | ||
| Q2 24 | $0.42 | — | ||
| Q1 24 | $-0.08 | — |
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 | $47.3M | $492.1M |
| 总债务越低越好 | $50.0M | — |
| 股东权益账面价值 | $182.8M | $890.8M |
| 总资产 | $397.6M | $6.1B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资HBBVNET
| Q4 25 | $47.3M | — | ||
| Q3 25 | $17.2M | $492.1M | ||
| Q2 25 | $11.3M | — | ||
| Q1 25 | $48.3M | $544.3M | ||
| Q4 24 | $45.6M | — | ||
| Q3 24 | $22.6M | $219.5M | ||
| Q2 24 | $37.2M | $247.2M | ||
| Q1 24 | $26.3M | $246.9M |
总债务HBBVNET
| Q4 25 | $50.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HBBVNET
| Q4 25 | $182.8M | — | ||
| Q3 25 | $164.0M | $890.8M | ||
| Q2 25 | $164.0M | — | ||
| Q1 25 | $163.2M | $927.8M | ||
| Q4 24 | $165.9M | — | ||
| Q3 24 | $150.0M | $902.9M | ||
| Q2 24 | $145.7M | $900.6M | ||
| Q1 24 | $145.4M | $895.1M |
总资产HBBVNET
| Q4 25 | $397.6M | — | ||
| Q3 25 | $392.4M | $6.1B | ||
| Q2 25 | $363.8M | — | ||
| Q1 25 | $418.0M | $5.4B | ||
| Q4 24 | $415.1M | — | ||
| Q3 24 | $408.7M | $4.3B | ||
| Q2 24 | $369.9M | $4.0B | ||
| Q1 24 | $368.9M | $3.9B |
负债/权益比HBBVNET
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.30× | — | ||
| 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 | $28.5M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $27.9M | $-193.1M |
| 自由现金流率自由现金流/营收 | 13.1% | -53.2% |
| 资本支出强度资本支出/营收 | 0.3% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.53× | — |
| 过去12个月自由现金流最近4个季度 | $11.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流HBBVNET
| Q4 25 | $28.5M | — | ||
| Q3 25 | $9.1M | $113.8M | ||
| Q2 25 | $-30.4M | — | ||
| Q1 25 | $6.6M | $27.0M | ||
| Q4 24 | $30.2M | — | ||
| Q3 24 | $-1.9M | $108.3M | ||
| Q2 24 | $17.4M | $55.8M | ||
| Q1 24 | $19.7M | $37.1M |
自由现金流HBBVNET
| Q4 25 | $27.9M | — | ||
| Q3 25 | $8.4M | $-193.1M | ||
| Q2 25 | $-31.3M | — | ||
| Q1 25 | $6.1M | $-220.0M | ||
| Q4 24 | $29.4M | — | ||
| Q3 24 | $-2.7M | $-95.0M | ||
| Q2 24 | $16.8M | $-81.6M | ||
| Q1 24 | $18.8M | $-102.2M |
自由现金流率HBBVNET
| Q4 25 | 13.1% | — | ||
| Q3 25 | 6.3% | -53.2% | ||
| Q2 25 | -24.5% | — | ||
| Q1 25 | 4.6% | -71.1% | ||
| Q4 24 | 13.8% | — | ||
| Q3 24 | -1.7% | -31.4% | ||
| Q2 24 | 10.7% | -29.8% | ||
| Q1 24 | 14.6% | -38.9% |
资本支出强度HBBVNET
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.6% | 84.6% | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.4% | 79.8% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.5% | 67.3% | ||
| Q2 24 | 0.4% | 50.1% | ||
| Q1 24 | 0.7% | 53.0% |
现金转化率HBBVNET
| Q4 25 | 1.53× | — | ||
| Q3 25 | 5.52× | — | ||
| Q2 25 | -6.83× | — | ||
| Q1 25 | 3.67× | — | ||
| Q4 24 | 1.26× | — | ||
| Q3 24 | -0.98× | — | ||
| Q2 24 | 2.90× | — | ||
| 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
HBB
| Consumer Product | $191.6M | 90% |
| Commercial Product | $17.5M | 8% |
| Health Beacon | $2.3M | 1% |
VNET
暂无分部数据
