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丽思卡尔顿酒店集团（INN）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丽思卡尔顿酒店集团的2.0倍（$362.7M vs $185.1M），丽思卡尔顿酒店集团净利率更高（-5.6% vs -10.7%，领先5.0%），过去两年世纪互联的营收复合增速更高（17.4% vs -2.3%）
丽思卡尔顿酒店集团是源自美国的跨国豪华连锁酒店品牌，主打高端奢华住宿体验，目前在全球30个国家和地区运营着108家豪华酒店及度假村，共计拥有超过2.9万间客房，另有46家合计近9千间客房的项目正在筹备规划中。
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。
INN vs VNET — 直观对比
营收规模更大
VNET
是对方的2.0倍
$185.1M
净利率更高
INN
高出5.0%
-10.7%
两年增速更快
VNET
近两年复合增速
-2.3%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $185.1M | $362.7M |
| 净利润 | $-10.4M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 7.6% | 0.5% |
| 净利率 | -5.6% | -10.7% |
| 营收同比 | 0.3% | — |
| 净利润同比 | -122.9% | — |
| 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INNVNET
| Q1 26 | $185.1M | — | ||
| Q4 25 | $175.0M | — | ||
| Q3 25 | $177.1M | $362.7M | ||
| Q2 25 | $192.9M | — | ||
| Q1 25 | $184.5M | $309.5M | ||
| Q4 24 | $172.9M | — | ||
| Q3 24 | $176.8M | $302.2M | ||
| Q2 24 | $193.9M | $274.4M |
净利润INNVNET
| Q1 26 | $-10.4M | — | ||
| Q4 25 | $-2.6M | — | ||
| Q3 25 | $-11.8M | $-38.7M | ||
| Q2 25 | $2.0M | — | ||
| Q1 25 | $623.0K | $-2.4M | ||
| Q4 24 | $916.0K | — | ||
| Q3 24 | $-3.6M | $-2.1M | ||
| Q2 24 | $38.7M | $-1.1M |
毛利率INNVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率INNVNET
| Q1 26 | 7.6% | — | ||
| Q4 25 | 8.3% | — | ||
| Q3 25 | 4.8% | 0.5% | ||
| Q2 25 | 11.8% | — | ||
| Q1 25 | 10.7% | 0.1% | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 8.9% | 24.5% | ||
| Q2 24 | 29.0% | 0.2% |
净利率INNVNET
| Q1 26 | -5.6% | — | ||
| Q4 25 | -1.5% | — | ||
| Q3 25 | -6.6% | -10.7% | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 0.3% | -0.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | -2.0% | -0.7% | ||
| Q2 24 | 20.0% | -0.4% |
每股收益（稀释后）INNVNET
| Q1 26 | — | — | ||
| Q4 25 | $-0.05 | — | ||
| Q3 25 | $-0.11 | — | ||
| Q2 25 | $-0.02 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | $0.23 | — |
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 | $44.8M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $840.4M | $890.8M |
| 总资产 | $2.8B | $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INNVNET
| Q1 26 | $44.8M | — | ||
| Q4 25 | $36.1M | — | ||
| Q3 25 | $41.1M | $492.1M | ||
| Q2 25 | $39.5M | — | ||
| Q1 25 | $48.2M | $544.3M | ||
| Q4 24 | $40.6M | — | ||
| Q3 24 | $51.7M | $219.5M | ||
| Q2 24 | $45.9M | $247.2M |
总债务INNVNET
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | — |
股东权益INNVNET
| Q1 26 | $840.4M | — | ||
| Q4 25 | $862.2M | — | ||
| Q3 25 | $875.8M | $890.8M | ||
| Q2 25 | $895.1M | — | ||
| Q1 25 | $920.4M | $927.8M | ||
| Q4 24 | $909.5M | — | ||
| Q3 24 | $911.4M | $902.9M | ||
| Q2 24 | $931.9M | $900.6M |
总资产INNVNET
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.8B | $6.1B | ||
| Q2 25 | $2.9B | — | ||
| Q1 25 | $2.9B | $5.4B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.8B | $4.3B | ||
| Q2 24 | $2.9B | $4.0B |
负债/权益比INNVNET
| Q1 26 | — | — | ||
| Q4 25 | 1.62× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.59× | — | ||
| Q1 25 | 1.54× | — | ||
| Q4 24 | 1.54× | — | ||
| Q3 24 | 1.47× | 1.28× | ||
| Q2 24 | 1.44× | — |
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 | 29.7% | 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INNVNET
| Q1 26 | — | — | ||
| Q4 25 | $149.0M | — | ||
| Q3 25 | $45.8M | $113.8M | ||
| Q2 25 | $48.8M | — | ||
| Q1 25 | $25.9M | $27.0M | ||
| Q4 24 | $166.3M | — | ||
| Q3 24 | $55.7M | $108.3M | ||
| Q2 24 | $50.3M | $55.8M |
自由现金流INNVNET
| Q1 26 | — | — | ||
| Q4 25 | $73.6M | — | ||
| Q3 25 | $24.0M | $-193.1M | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $10.1M | $-220.0M | ||
| Q4 24 | $77.0M | — | ||
| Q3 24 | $33.1M | $-95.0M | ||
| Q2 24 | $29.4M | $-81.6M |
自由现金流率INNVNET
| Q1 26 | — | — | ||
| Q4 25 | 42.0% | — | ||
| Q3 25 | 13.5% | -53.2% | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 5.5% | -71.1% | ||
| Q4 24 | 44.5% | — | ||
| Q3 24 | 18.7% | -31.4% | ||
| Q2 24 | 15.2% | -29.8% |
资本支出强度INNVNET
| Q1 26 | 29.7% | — | ||
| Q4 25 | 43.1% | — | ||
| Q3 25 | 12.3% | 84.6% | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | 8.5% | 79.8% | ||
| Q4 24 | 51.6% | — | ||
| Q3 24 | 12.7% | 67.3% | ||
| Q2 24 | 10.8% | 50.1% |
现金转化率INNVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.97× | — | ||
| Q1 25 | 41.49× | — | ||
| Q4 24 | 181.58× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.30× | — |
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
INN
| Pro forma room revenue | $162.1M | 88% |
| Pro forma other hotel operations revenue | $22.4M | 12% |
VNET
暂无分部数据
