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泰尼特医疗（HCSG）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
泰尼特医疗的季度营收约是世纪互联的1.3倍（$466.7M vs $362.7M），泰尼特医疗自由现金流更多（$16.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 5.0%）
泰尼特医疗集团是一家总部位于达拉斯的美国上市营利性跨国医疗服务企业，旗下通过品牌、子公司、合资企业及合作项目（包括联合外科合作伙伴国际USPI），运营着65家医院与超450家医疗机构，此外还经营康尼弗医疗解决方案，为医疗系统及其他客户提供医疗配套服务支持。
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。
HCSG vs VNET — 直观对比
营收规模更大
HCSG
是对方的1.3倍
$362.7M
自由现金流更多
HCSG
多$209.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
5.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $466.7M | $362.7M |
| 净利润 | — | $-38.7M |
| 毛利率 | 15.4% | 20.9% |
| 营业利润率 | 6.1% | 0.5% |
| 净利率 | — | -10.7% |
| 营收同比 | 6.6% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.43 | — |
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HCSGVNET
| Q4 25 | $466.7M | — | ||
| Q3 25 | $464.3M | $362.7M | ||
| Q2 25 | $458.5M | — | ||
| Q1 25 | $447.7M | $309.5M | ||
| Q4 24 | $437.8M | — | ||
| Q3 24 | $428.1M | $302.2M | ||
| Q2 24 | $426.3M | $274.4M | ||
| Q1 24 | $423.4M | $262.9M |
净利润HCSGVNET
| Q4 25 | — | — | ||
| Q3 25 | $43.0M | $-38.7M | ||
| Q2 25 | $-32.4M | — | ||
| Q1 25 | $17.2M | $-2.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.0M | $-2.1M | ||
| Q2 24 | $-1.8M | $-1.1M | ||
| Q1 24 | $15.3M | $-22.0M |
毛利率HCSGVNET
| Q4 25 | 15.4% | — | ||
| Q3 25 | 20.8% | 20.9% | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 15.2% | 25.2% | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 14.8% | 23.2% | ||
| Q2 24 | 9.7% | 21.3% | ||
| Q1 24 | 15.2% | 21.6% |
营业利润率HCSGVNET
| Q4 25 | 6.1% | — | ||
| Q3 25 | 12.3% | 0.5% | ||
| Q2 25 | -9.1% | — | ||
| Q1 25 | 5.3% | 0.1% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 4.4% | 24.5% | ||
| Q2 24 | -0.5% | 0.2% | ||
| Q1 24 | 5.0% | 0.2% |
净利率HCSGVNET
| Q4 25 | — | — | ||
| Q3 25 | 9.3% | -10.7% | ||
| Q2 25 | -7.1% | — | ||
| Q1 25 | 3.8% | -0.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.3% | -0.7% | ||
| Q2 24 | -0.4% | -0.4% | ||
| Q1 24 | 3.6% | -8.4% |
每股收益（稀释后）HCSGVNET
| Q4 25 | $0.43 | — | ||
| Q3 25 | $0.59 | — | ||
| Q2 25 | $-0.44 | — | ||
| Q1 25 | $0.23 | — | ||
| Q4 24 | $0.15 | — | ||
| Q3 24 | $0.19 | — | ||
| Q2 24 | $-0.02 | — | ||
| Q1 24 | $0.21 | — |
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 | $168.0M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $510.2M | $890.8M |
| 总资产 | $794.3M | $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HCSGVNET
| Q4 25 | $168.0M | — | ||
| Q3 25 | $177.5M | $492.1M | ||
| Q2 25 | $134.5M | — | ||
| Q1 25 | $114.8M | $544.3M | ||
| Q4 24 | $107.3M | — | ||
| Q3 24 | $103.8M | $219.5M | ||
| Q2 24 | $105.6M | $247.2M | ||
| Q1 24 | $104.9M | $246.9M |
总债务HCSGVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HCSGVNET
| Q4 25 | $510.2M | — | ||
| Q3 25 | $496.0M | $890.8M | ||
| Q2 25 | $477.0M | — | ||
| Q1 25 | $514.2M | $927.8M | ||
| Q4 24 | $499.9M | — | ||
| Q3 24 | $488.7M | $902.9M | ||
| Q2 24 | $471.4M | $900.6M | ||
| Q1 24 | $474.6M | $895.1M |
总资产HCSGVNET
| Q4 25 | $794.3M | — | ||
| Q3 25 | $804.3M | $6.1B | ||
| Q2 25 | $802.2M | — | ||
| Q1 25 | $823.0M | $5.4B | ||
| Q4 24 | $802.8M | — | ||
| Q3 24 | $805.8M | $4.3B | ||
| Q2 24 | $799.7M | $4.0B | ||
| Q1 24 | $803.9M | $3.9B |
负债/权益比HCSGVNET
| 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 | $17.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $16.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 3.4% | -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 | — | — |
| 过去12个月自由现金流最近4个季度 | $139.2M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流HCSGVNET
| Q4 25 | $17.4M | — | ||
| Q3 25 | $71.3M | $113.8M | ||
| Q2 25 | $28.8M | — | ||
| Q1 25 | $27.5M | $27.0M | ||
| Q4 24 | $36.2M | — | ||
| Q3 24 | $4.3M | $108.3M | ||
| Q2 24 | $16.3M | $55.8M | ||
| Q1 24 | $-26.0M | $37.1M |
自由现金流HCSGVNET
| Q4 25 | $16.0M | — | ||
| Q3 25 | $70.0M | $-193.1M | ||
| Q2 25 | $27.4M | — | ||
| Q1 25 | $25.8M | $-220.0M | ||
| Q4 24 | $34.8M | — | ||
| Q3 24 | $2.9M | $-95.0M | ||
| Q2 24 | $15.0M | $-81.6M | ||
| Q1 24 | $-28.2M | $-102.2M |
自由现金流率HCSGVNET
| Q4 25 | 3.4% | — | ||
| Q3 25 | 15.1% | -53.2% | ||
| Q2 25 | 6.0% | — | ||
| Q1 25 | 5.8% | -71.1% | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 0.7% | -31.4% | ||
| Q2 24 | 3.5% | -29.8% | ||
| Q1 24 | -6.7% | -38.9% |
资本支出强度HCSGVNET
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.3% | 84.6% | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.4% | 79.8% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.3% | 67.3% | ||
| Q2 24 | 0.3% | 50.1% | ||
| Q1 24 | 0.5% | 53.0% |
现金转化率HCSGVNET
| Q4 25 | — | — | ||
| Q3 25 | 1.66× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.60× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -1.70× | — |
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
HCSG
| Dietary Services | $255.9M | 55% |
| Other | $210.8M | 45% |
VNET
暂无分部数据
