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MARINEMAX INC（HZO）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
MARINEMAX INC的季度营收约是世纪互联的1.5倍（$527.4M vs $362.7M），过去两年世纪互联的营收复合增速更高（17.4% vs -16.6%）
MarineMax Inc.是美国头部休闲船舶及游艇零售商，主营全新及二手休闲船艇销售，同时提供船舶维保、金融服务、保险、游艇租赁及航海主题活动等配套服务，覆盖北美市场的私人航海爱好者群体。
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。
HZO vs VNET — 直观对比
营收规模更大
HZO
是对方的1.5倍
$362.7M
两年增速更快
VNET
近两年复合增速
-16.6%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $527.4M | $362.7M |
| 净利润 | — | $-38.7M |
| 毛利率 | 34.4% | 20.9% |
| 营业利润率 | 2.1% | 0.5% |
| 净利率 | — | -10.7% |
| 营收同比 | -16.5% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.14 | — |
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HZOVNET
| Q1 26 | $527.4M | — | ||
| Q4 25 | $505.2M | — | ||
| Q3 25 | $552.2M | $362.7M | ||
| Q2 25 | $657.2M | — | ||
| Q1 25 | $631.5M | $309.5M | ||
| Q4 24 | $468.5M | — | ||
| Q3 24 | $563.1M | $302.2M | ||
| Q2 24 | $757.7M | $274.4M |
净利润HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | $-7.9M | — | ||
| Q3 25 | $-851.0K | $-38.7M | ||
| Q2 25 | $-52.1M | — | ||
| Q1 25 | $3.3M | $-2.4M | ||
| Q4 24 | $18.1M | — | ||
| Q3 24 | $4.0M | $-2.1M | ||
| Q2 24 | $31.6M | $-1.1M |
毛利率HZOVNET
| Q1 26 | 34.4% | — | ||
| Q4 25 | 31.8% | — | ||
| Q3 25 | 34.7% | 20.9% | ||
| Q2 25 | 30.4% | — | ||
| Q1 25 | 30.0% | 25.2% | ||
| Q4 24 | 36.2% | — | ||
| Q3 24 | 34.3% | 23.2% | ||
| Q2 24 | 32.0% | 21.3% |
营业利润率HZOVNET
| Q1 26 | 2.1% | — | ||
| Q4 25 | 1.0% | — | ||
| Q3 25 | 2.5% | 0.5% | ||
| Q2 25 | -6.3% | — | ||
| Q1 25 | 3.6% | 0.1% | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 4.8% | 24.5% | ||
| Q2 24 | 8.1% | 0.2% |
净利率HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | -1.6% | — | ||
| Q3 25 | -0.2% | -10.7% | ||
| Q2 25 | -7.9% | — | ||
| Q1 25 | 0.5% | -0.8% | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 0.7% | -0.7% | ||
| Q2 24 | 4.2% | -0.4% |
每股收益（稀释后）HZOVNET
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-0.36 | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $-2.42 | — | ||
| Q1 25 | $0.14 | — | ||
| Q4 24 | $0.77 | — | ||
| Q3 24 | $0.17 | — | ||
| Q2 24 | $1.37 | — |
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 | $189.1M | $492.1M |
| 总债务越低越好 | $338.7M | — |
| 股东权益账面价值 | — | $890.8M |
| 总资产 | $2.4B | $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HZOVNET
| Q1 26 | $189.1M | — | ||
| Q4 25 | $164.6M | — | ||
| Q3 25 | $170.4M | $492.1M | ||
| Q2 25 | $151.0M | — | ||
| Q1 25 | $203.5M | $544.3M | ||
| Q4 24 | $145.0M | — | ||
| Q3 24 | $224.3M | $219.5M | ||
| Q2 24 | $242.4M | $247.2M |
总债务HZOVNET
| Q1 26 | $338.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $393.2M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $391.2M | $1.2B | ||
| Q2 24 | — | — |
股东权益HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | $932.8M | — | ||
| Q3 25 | $937.2M | $890.8M | ||
| Q2 25 | $940.5M | — | ||
| Q1 25 | $993.4M | $927.8M | ||
| Q4 24 | $993.5M | — | ||
| Q3 24 | $975.8M | $902.9M | ||
| Q2 24 | $967.6M | $900.6M |
总资产HZOVNET
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.5B | $6.1B | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.7B | $5.4B | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.6B | $4.3B | ||
| Q2 24 | $2.6B | $4.0B |
负债/权益比HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.42× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.40× | 1.28× | ||
| Q2 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 | — | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | — | 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 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | $16.9M | — | ||
| Q3 25 | $61.5M | $113.8M | ||
| Q2 25 | $84.9M | — | ||
| Q1 25 | $72.5M | $27.0M | ||
| Q4 24 | $-146.1M | — | ||
| Q3 24 | $-782.0K | $108.3M | ||
| Q2 24 | $86.3M | $55.8M |
自由现金流HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | $8.3M | — | ||
| Q3 25 | $48.0M | $-193.1M | ||
| Q2 25 | $68.5M | — | ||
| Q1 25 | $59.8M | $-220.0M | ||
| Q4 24 | $-164.4M | — | ||
| Q3 24 | $-17.5M | $-95.0M | ||
| Q2 24 | $71.1M | $-81.6M |
自由现金流率HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | — | ||
| Q3 25 | 8.7% | -53.2% | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | 9.5% | -71.1% | ||
| Q4 24 | -35.1% | — | ||
| Q3 24 | -3.1% | -31.4% | ||
| Q2 24 | 9.4% | -29.8% |
资本支出强度HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | — | ||
| Q3 25 | 2.4% | 84.6% | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 2.0% | 79.8% | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 3.0% | 67.3% | ||
| Q2 24 | 2.0% | 50.1% |
现金转化率HZOVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 21.97× | — | ||
| Q4 24 | -8.09× | — | ||
| Q3 24 | -0.20× | — | ||
| Q2 24 | 2.74× | — |
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
HZO
| Retail Operations | $525.3M | 100% |
| Product Manufacturing | $23.7M | 4% |
VNET
暂无分部数据
