vs
Invitation Homes（INVH）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
Invitation Homes的季度营收约是世纪互联的1.9倍（$685.3M vs $362.7M），Invitation Homes净利率更高（21.1% vs -10.7%，领先31.8%），Invitation Homes自由现金流更多（$122.4M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 3.0%）
Invitation Homes是纽交所上市企业，总部位于美国得克萨斯州达拉斯市林肯中心大厦，由Dallas B. Tanner出任首席执行官。截至2024年7月，公司在全美16个市场持有约8.4万套独栋出租住宅，是美国规模最大的独栋住宅租赁业主，17%的租金收入来自加利福尼亚州。
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。
INVH vs VNET — 直观对比
营收规模更大
INVH
是对方的1.9倍
$362.7M
净利率更高
INVH
高出31.8%
-10.7%
自由现金流更多
INVH
多$315.5M
$-193.1M
两年增速更快
VNET
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $685.3M | $362.7M |
| 净利润 | $144.6M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | — | 0.5% |
| 净利率 | 21.1% | -10.7% |
| 营收同比 | 4.0% | — |
| 净利润同比 | 1.0% | — |
| 每股收益（稀释后） | $0.24 | — |
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INVHVNET
| Q4 25 | $685.3M | — | ||
| Q3 25 | $688.2M | $362.7M | ||
| Q2 25 | $681.4M | — | ||
| Q1 25 | $674.5M | $309.5M | ||
| Q4 24 | $659.1M | — | ||
| Q3 24 | $660.3M | $302.2M | ||
| Q2 24 | $653.5M | $274.4M | ||
| Q1 24 | $646.0M | $262.9M |
净利润INVHVNET
| Q4 25 | $144.6M | — | ||
| Q3 25 | $136.7M | $-38.7M | ||
| Q2 25 | $140.9M | — | ||
| Q1 25 | $165.7M | $-2.4M | ||
| Q4 24 | $143.1M | — | ||
| Q3 24 | $95.3M | $-2.1M | ||
| Q2 24 | $73.2M | $-1.1M | ||
| Q1 24 | $142.3M | $-22.0M |
毛利率INVHVNET
| 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INVHVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.2% |
净利率INVHVNET
| Q4 25 | 21.1% | — | ||
| Q3 25 | 19.9% | -10.7% | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 24.6% | -0.8% | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 14.4% | -0.7% | ||
| Q2 24 | 11.2% | -0.4% | ||
| Q1 24 | 22.0% | -8.4% |
每股收益（稀释后）INVHVNET
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.22 | — | ||
| Q2 25 | $0.23 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.24 | — | ||
| Q3 24 | $0.15 | — | ||
| Q2 24 | $0.12 | — | ||
| Q1 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 | $130.0M | $492.1M |
| 总债务越低越好 | $8.4B | — |
| 股东权益账面价值 | $9.5B | $890.8M |
| 总资产 | $18.7B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.88× | — |
8季度趋势，按日历期对齐
现金及短期投资INVHVNET
| Q4 25 | $130.0M | — | ||
| Q3 25 | $155.4M | $492.1M | ||
| Q2 25 | $65.1M | — | ||
| Q1 25 | $84.4M | $544.3M | ||
| Q4 24 | $174.5M | — | ||
| Q3 24 | $1.0B | $219.5M | ||
| Q2 24 | $749.4M | $247.2M | ||
| Q1 24 | $738.1M | $246.9M |
总债务INVHVNET
| Q4 25 | $8.4B | — | ||
| Q3 25 | $8.2B | — | ||
| Q2 25 | $8.2B | — | ||
| Q1 25 | $8.1B | — | ||
| Q4 24 | $8.2B | — | ||
| Q3 24 | $9.0B | $1.2B | ||
| Q2 24 | $8.5B | — | ||
| Q1 24 | $8.5B | — |
股东权益INVHVNET
| Q4 25 | $9.5B | — | ||
| Q3 25 | $9.6B | $890.8M | ||
| Q2 25 | $9.7B | — | ||
| Q1 25 | $9.7B | $927.8M | ||
| Q4 24 | $9.8B | — | ||
| Q3 24 | $9.9B | $902.9M | ||
| Q2 24 | $10.0B | $900.6M | ||
| Q1 24 | $10.1B | $895.1M |
总资产INVHVNET
| Q4 25 | $18.7B | — | ||
| Q3 25 | $18.8B | $6.1B | ||
| Q2 25 | $18.7B | — | ||
| Q1 25 | $18.6B | $5.4B | ||
| Q4 24 | $18.7B | — | ||
| Q3 24 | $19.6B | $4.3B | ||
| Q2 24 | $19.2B | $4.0B | ||
| Q1 24 | $19.2B | $3.9B |
负债/权益比INVHVNET
| Q4 25 | 0.88× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.85× | — | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 0.91× | 1.28× | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.84× | — |
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 | $128.7M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $122.4M | $-193.1M |
| 自由现金流率自由现金流/营收 | 17.9% | -53.2% |
| 资本支出强度资本支出/营收 | 0.9% | 84.6% |
| 现金转化率经营现金流/净利润 | 0.89× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | $-589.7M |
8季度趋势，按日历期对齐
经营现金流INVHVNET
| Q4 25 | $128.7M | — | ||
| Q3 25 | $394.6M | $113.8M | ||
| Q2 25 | $382.5M | — | ||
| Q1 25 | $300.5M | $27.0M | ||
| Q4 24 | $132.8M | — | ||
| Q3 24 | $313.6M | $108.3M | ||
| Q2 24 | $369.8M | $55.8M | ||
| Q1 24 | $265.6M | $37.1M |
自由现金流INVHVNET
| Q4 25 | $122.4M | — | ||
| Q3 25 | $387.8M | $-193.1M | ||
| Q2 25 | $374.4M | — | ||
| Q1 25 | $293.3M | $-220.0M | ||
| Q4 24 | $125.0M | — | ||
| Q3 24 | $305.2M | $-95.0M | ||
| Q2 24 | $363.8M | $-81.6M | ||
| Q1 24 | $257.1M | $-102.2M |
自由现金流率INVHVNET
| Q4 25 | 17.9% | — | ||
| Q3 25 | 56.4% | -53.2% | ||
| Q2 25 | 54.9% | — | ||
| Q1 25 | 43.5% | -71.1% | ||
| Q4 24 | 19.0% | — | ||
| Q3 24 | 46.2% | -31.4% | ||
| Q2 24 | 55.7% | -29.8% | ||
| Q1 24 | 39.8% | -38.9% |
资本支出强度INVHVNET
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.0% | 84.6% | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 1.1% | 79.8% | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 1.3% | 67.3% | ||
| Q2 24 | 0.9% | 50.1% | ||
| Q1 24 | 1.3% | 53.0% |
现金转化率INVHVNET
| Q4 25 | 0.89× | — | ||
| Q3 25 | 2.89× | — | ||
| Q2 25 | 2.71× | — | ||
| Q1 25 | 1.81× | — | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 3.29× | — | ||
| Q2 24 | 5.05× | — | ||
| Q1 24 | 1.87× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
