vs
Heritage Insurance Holdings, Inc.（HRTG）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Heritage Insurance Holdings, Inc.的1.7倍（$362.7M vs $215.3M），Heritage Insurance Holdings, Inc.净利率更高（31.0% vs -10.7%，领先41.6%），Heritage Insurance Holdings, Inc.自由现金流更多（$174.2M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 6.1%）
该公司是一家位于美国佛罗里达州的财产意外保险公司，在美国多个沿海州开展业务，主要为客户提供商业保险、住宅保险、房主保险以及洪水保险等各类财产意外保障产品。
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。
HRTG vs VNET — 直观对比
营收规模更大
VNET
是对方的1.7倍
$215.3M
净利率更高
HRTG
高出41.6%
-10.7%
自由现金流更多
HRTG
多$367.2M
$-193.1M
两年增速更快
VNET
近两年复合增速
6.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $215.3M | $362.7M |
| 净利润 | $66.7M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 41.6% | 0.5% |
| 净利率 | 31.0% | -10.7% |
| 营收同比 | 2.4% | — |
| 净利润同比 | 228.6% | — |
| 每股收益（稀释后） | $2.15 | — |
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HRTGVNET
| Q4 25 | $215.3M | — | ||
| Q3 25 | $212.5M | $362.7M | ||
| Q2 25 | $208.0M | — | ||
| Q1 25 | $211.5M | $309.5M | ||
| Q4 24 | $210.3M | — | ||
| Q3 24 | $211.8M | $302.2M | ||
| Q2 24 | $203.6M | $274.4M | ||
| Q1 24 | $191.3M | $262.9M |
净利润HRTGVNET
| Q4 25 | $66.7M | — | ||
| Q3 25 | $50.4M | $-38.7M | ||
| Q2 25 | $48.0M | — | ||
| Q1 25 | $30.5M | $-2.4M | ||
| Q4 24 | $20.3M | — | ||
| Q3 24 | $8.2M | $-2.1M | ||
| Q2 24 | $18.9M | $-1.1M | ||
| Q1 24 | $14.2M | $-22.0M |
毛利率HRTGVNET
| 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HRTGVNET
| Q4 25 | 41.6% | — | ||
| Q3 25 | 33.0% | 0.5% | ||
| Q2 25 | 31.2% | — | ||
| Q1 25 | 20.1% | 0.1% | ||
| Q4 24 | 15.0% | — | ||
| Q3 24 | 5.5% | 24.5% | ||
| Q2 24 | 13.6% | 0.2% | ||
| Q1 24 | 11.9% | 0.2% |
净利率HRTGVNET
| Q4 25 | 31.0% | — | ||
| Q3 25 | 23.7% | -10.7% | ||
| Q2 25 | 23.1% | — | ||
| Q1 25 | 14.4% | -0.8% | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 3.8% | -0.7% | ||
| Q2 24 | 9.3% | -0.4% | ||
| Q1 24 | 7.4% | -8.4% |
每股收益（稀释后）HRTGVNET
| Q4 25 | $2.15 | — | ||
| Q3 25 | $1.63 | — | ||
| Q2 25 | $1.55 | — | ||
| Q1 25 | $0.99 | — | ||
| Q4 24 | $0.66 | — | ||
| Q3 24 | $0.27 | — | ||
| Q2 24 | $0.61 | — | ||
| Q1 24 | $0.47 | — |
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 | $559.3M | $492.1M |
| 总债务越低越好 | $78.4M | — |
| 股东权益账面价值 | $505.3M | $890.8M |
| 总资产 | $2.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.16× | — |
8季度趋势，按日历期对齐
现金及短期投资HRTGVNET
| Q4 25 | $559.3M | — | ||
| Q3 25 | $560.4M | $492.1M | ||
| Q2 25 | $473.5M | — | ||
| Q1 25 | $425.9M | $544.3M | ||
| Q4 24 | $452.7M | — | ||
| Q3 24 | $509.9M | $219.5M | ||
| Q2 24 | $480.9M | $247.2M | ||
| Q1 24 | $386.1M | $246.9M |
总债务HRTGVNET
| Q4 25 | $78.4M | — | ||
| Q3 25 | $79.3M | — | ||
| Q2 25 | $92.4M | — | ||
| Q1 25 | $94.8M | — | ||
| Q4 24 | $116.3M | — | ||
| Q3 24 | $118.6M | $1.2B | ||
| Q2 24 | $120.8M | — | ||
| Q1 24 | $123.0M | — |
股东权益HRTGVNET
| Q4 25 | $505.3M | — | ||
| Q3 25 | $437.3M | $890.8M | ||
| Q2 25 | $383.3M | — | ||
| Q1 25 | $329.0M | $927.8M | ||
| Q4 24 | $290.8M | — | ||
| Q3 24 | $279.3M | $902.9M | ||
| Q2 24 | $255.3M | $900.6M | ||
| Q1 24 | $234.9M | $895.1M |
总资产HRTGVNET
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.4B | $6.1B | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.2B | $5.4B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.4B | $4.3B | ||
| Q2 24 | $2.6B | $4.0B | ||
| Q1 24 | $2.1B | $3.9B |
负债/权益比HRTGVNET
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.40× | — | ||
| Q3 24 | 0.42× | 1.28× | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.52× | — |
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 | $182.2M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $174.2M | $-193.1M |
| 自由现金流率自由现金流/营收 | 80.9% | -53.2% |
| 资本支出强度资本支出/营收 | 3.7% | 84.6% |
| 现金转化率经营现金流/净利润 | 2.73× | — |
| 过去12个月自由现金流最近4个季度 | $337.4M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流HRTGVNET
| Q4 25 | $182.2M | — | ||
| Q3 25 | $124.3M | $113.8M | ||
| Q2 25 | $43.3M | — | ||
| Q1 25 | $837.0K | $27.0M | ||
| Q4 24 | $87.1M | — | ||
| Q3 24 | $-13.4M | $108.3M | ||
| Q2 24 | $152.2M | $55.8M | ||
| Q1 24 | $4.3M | $37.1M |
自由现金流HRTGVNET
| Q4 25 | $174.2M | — | ||
| Q3 25 | $122.7M | $-193.1M | ||
| Q2 25 | $41.8M | — | ||
| Q1 25 | $-1.3M | $-220.0M | ||
| Q4 24 | $78.9M | — | ||
| Q3 24 | $-16.3M | $-95.0M | ||
| Q2 24 | $149.8M | $-81.6M | ||
| Q1 24 | $4.1M | $-102.2M |
自由现金流率HRTGVNET
| Q4 25 | 80.9% | — | ||
| Q3 25 | 57.8% | -53.2% | ||
| Q2 25 | 20.1% | — | ||
| Q1 25 | -0.6% | -71.1% | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | -7.7% | -31.4% | ||
| Q2 24 | 73.6% | -29.8% | ||
| Q1 24 | 2.1% | -38.9% |
资本支出强度HRTGVNET
| Q4 25 | 3.7% | — | ||
| Q3 25 | 0.7% | 84.6% | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 1.0% | 79.8% | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 1.4% | 67.3% | ||
| Q2 24 | 1.2% | 50.1% | ||
| Q1 24 | 0.1% | 53.0% |
现金转化率HRTGVNET
| Q4 25 | 2.73× | — | ||
| Q3 25 | 2.47× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 4.29× | — | ||
| Q3 24 | -1.64× | — | ||
| Q2 24 | 8.07× | — | ||
| Q1 24 | 0.30× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
