vs
InnovAge Holding Corp.（INNV）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InnovAge Holding Corp.的1.5倍（$362.7M vs $239.7M），InnovAge Holding Corp.净利率更高（4.4% vs -10.7%，领先15.1%），InnovAge Holding Corp.自由现金流更多（$19.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 11.4%）
InnovAge Holding Corp是美国领先的老年护理服务商，主要运营老年人全包护理项目（PACE），为符合条件的高龄群体提供综合医疗、社会支持与日常生活协助，帮助老人居家养老，服务覆盖美国多个州。
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。
INNV vs VNET — 直观对比
营收规模更大
VNET
是对方的1.5倍
$239.7M
净利率更高
INNV
高出15.1%
-10.7%
自由现金流更多
INNV
多$212.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
11.4%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $239.7M | $362.7M |
| 净利润 | $10.6M | $-38.7M |
| 毛利率 | 22.0% | 20.9% |
| 营业利润率 | 5.5% | 0.5% |
| 净利率 | 4.4% | -10.7% |
| 营收同比 | 14.7% | — |
| 净利润同比 | 180.3% | — |
| 每股收益（稀释后） | $0.08 | — |
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INNVVNET
| Q4 25 | $239.7M | — | ||
| Q3 25 | $236.1M | $362.7M | ||
| Q2 25 | $221.4M | — | ||
| Q1 25 | $218.1M | $309.5M | ||
| Q4 24 | $209.0M | — | ||
| Q3 24 | $205.1M | $302.2M | ||
| Q2 24 | $199.4M | $274.4M | ||
| Q1 24 | $193.1M | $262.9M |
净利润INNVVNET
| Q4 25 | $10.6M | — | ||
| Q3 25 | $8.0M | $-38.7M | ||
| Q2 25 | $-785.0K | — | ||
| Q1 25 | $-11.4M | $-2.4M | ||
| Q4 24 | $-13.2M | — | ||
| Q3 24 | $-4.9M | $-2.1M | ||
| Q2 24 | $-1.7M | $-1.1M | ||
| Q1 24 | $-5.9M | $-22.0M |
毛利率INNVVNET
| Q4 25 | 22.0% | — | ||
| Q3 25 | 21.8% | 20.9% | ||
| Q2 25 | 18.6% | — | ||
| Q1 25 | 18.7% | 25.2% | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 16.8% | 23.2% | ||
| Q2 24 | 18.3% | 21.3% | ||
| Q1 24 | 17.6% | 21.6% |
营业利润率INNVVNET
| Q4 25 | 5.5% | — | ||
| Q3 25 | 3.5% | 0.5% | ||
| Q2 25 | -1.0% | — | ||
| Q1 25 | -4.7% | 0.1% | ||
| Q4 24 | -6.0% | — | ||
| Q3 24 | -2.4% | 24.5% | ||
| Q2 24 | -2.4% | 0.2% | ||
| Q1 24 | -3.0% | 0.2% |
净利率INNVVNET
| Q4 25 | 4.4% | — | ||
| Q3 25 | 3.4% | -10.7% | ||
| Q2 25 | -0.4% | — | ||
| Q1 25 | -5.2% | -0.8% | ||
| Q4 24 | -6.3% | — | ||
| Q3 24 | -2.4% | -0.7% | ||
| Q2 24 | -0.9% | -0.4% | ||
| Q1 24 | -3.0% | -8.4% |
每股收益（稀释后）INNVVNET
| Q4 25 | $0.08 | — | ||
| Q3 25 | $0.06 | — | ||
| Q2 25 | $0.00 | — | ||
| Q1 25 | $-0.08 | — | ||
| Q4 24 | $-0.10 | — | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | $-0.01 | — | ||
| Q1 24 | $-0.04 | — |
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 | $126.0M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $256.8M | $890.8M |
| 总资产 | $527.5M | $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INNVVNET
| Q4 25 | $126.0M | — | ||
| Q3 25 | $109.4M | $492.1M | ||
| Q2 25 | $105.9M | — | ||
| Q1 25 | $101.7M | $544.3M | ||
| Q4 24 | $86.9M | — | ||
| Q3 24 | $85.7M | $219.5M | ||
| Q2 24 | $102.8M | $247.2M | ||
| Q1 24 | $99.3M | $246.9M |
总债务INNVVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $60.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $66.0M | — | ||
| Q1 24 | — | — |
股东权益INNVVNET
| Q4 25 | $256.8M | — | ||
| Q3 25 | $245.0M | $890.8M | ||
| Q2 25 | $235.0M | — | ||
| Q1 25 | $238.0M | $927.8M | ||
| Q4 24 | $248.5M | — | ||
| Q3 24 | $260.9M | $902.9M | ||
| Q2 24 | $269.3M | $900.6M | ||
| Q1 24 | $281.1M | $895.1M |
总资产INNVVNET
| Q4 25 | $527.5M | — | ||
| Q3 25 | $510.2M | $6.1B | ||
| Q2 25 | $526.9M | — | ||
| Q1 25 | $536.6M | $5.4B | ||
| Q4 24 | $524.8M | — | ||
| Q3 24 | $527.7M | $4.3B | ||
| Q2 24 | $547.7M | $4.0B | ||
| Q1 24 | $527.4M | $3.9B |
负债/权益比INNVVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | 0.25× | — | ||
| 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 | $21.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 7.9% | -53.2% |
| 资本支出强度资本支出/营收 | 1.0% | 84.6% |
| 现金转化率经营现金流/净利润 | 2.01× | — |
| 过去12个月自由现金流最近4个季度 | $49.4M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流INNVVNET
| Q4 25 | $21.4M | — | ||
| Q3 25 | $3.9M | $113.8M | ||
| Q2 25 | $9.0M | — | ||
| Q1 25 | $24.6M | $27.0M | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $-7.5M | $108.3M | ||
| Q2 24 | $1.9M | $55.8M | ||
| Q1 24 | $3.5M | $37.1M |
自由现金流INNVVNET
| Q4 25 | $19.0M | — | ||
| Q3 25 | $-153.0K | $-193.1M | ||
| Q2 25 | $8.8M | — | ||
| Q1 25 | $21.7M | $-220.0M | ||
| Q4 24 | $5.4M | — | ||
| Q3 24 | $-9.7M | $-95.0M | ||
| Q2 24 | $-1.4M | $-81.6M | ||
| Q1 24 | $3.1M | $-102.2M |
自由现金流率INNVVNET
| Q4 25 | 7.9% | — | ||
| Q3 25 | -0.1% | -53.2% | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 10.0% | -71.1% | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | -4.7% | -31.4% | ||
| Q2 24 | -0.7% | -29.8% | ||
| Q1 24 | 1.6% | -38.9% |
资本支出强度INNVVNET
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.7% | 84.6% | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 1.3% | 79.8% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 1.1% | 67.3% | ||
| Q2 24 | 1.7% | 50.1% | ||
| Q1 24 | 0.2% | 53.0% |
现金转化率INNVVNET
| Q4 25 | 2.01× | — | ||
| Q3 25 | 0.49× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
