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肯纳金属（KMT）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
肯纳金属的季度营收约是世纪互联的1.5倍（$529.5M vs $362.7M），肯纳金属净利率更高（6.4% vs -10.7%，领先17.1%），肯纳金属自由现金流更多（$42.4M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 1.3%）
肯纳金属是高性能切削工具及工程部件制造商，产品广泛应用于航空航天、国防、交通运输、油气钻探等领域，业务覆盖全球市场，为各行业客户提供适配高要求作业场景的专业解决方案。
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。
KMT vs VNET — 直观对比
营收规模更大
KMT
是对方的1.5倍
$362.7M
净利率更高
KMT
高出17.1%
-10.7%
自由现金流更多
KMT
多$235.5M
$-193.1M
两年增速更快
VNET
近两年复合增速
1.3%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $529.5M | $362.7M |
| 净利润 | $33.9M | $-38.7M |
| 毛利率 | 32.8% | 20.9% |
| 营业利润率 | 9.9% | 0.5% |
| 净利率 | 6.4% | -10.7% |
| 营收同比 | 9.8% | — |
| 净利润同比 | 89.0% | — |
| 每股收益（稀释后） | $0.44 | — |
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KMTVNET
| Q4 25 | $529.5M | — | ||
| Q3 25 | $498.0M | $362.7M | ||
| Q2 25 | $516.4M | — | ||
| Q1 25 | $486.4M | $309.5M | ||
| Q4 24 | $482.1M | — | ||
| Q3 24 | $481.9M | $302.2M | ||
| Q2 24 | $543.3M | $274.4M | ||
| Q1 24 | $515.8M | $262.9M |
净利润KMTVNET
| Q4 25 | $33.9M | — | ||
| Q3 25 | $23.3M | $-38.7M | ||
| Q2 25 | $21.6M | — | ||
| Q1 25 | $31.5M | $-2.4M | ||
| Q4 24 | $17.9M | — | ||
| Q3 24 | $22.1M | $-2.1M | ||
| Q2 24 | $37.2M | $-1.1M | ||
| Q1 24 | $19.0M | $-22.0M |
毛利率KMTVNET
| Q4 25 | 32.8% | — | ||
| Q3 25 | 31.0% | 20.9% | ||
| Q2 25 | 28.2% | — | ||
| Q1 25 | 32.1% | 25.2% | ||
| Q4 24 | 30.1% | — | ||
| Q3 24 | 31.3% | 23.2% | ||
| Q2 24 | 31.5% | 21.3% | ||
| Q1 24 | 29.7% | 21.6% |
营业利润率KMTVNET
| Q4 25 | 9.9% | — | ||
| Q3 25 | 7.5% | 0.5% | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | 9.1% | 0.1% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 7.5% | 24.5% | ||
| Q2 24 | 11.3% | 0.2% | ||
| Q1 24 | 6.8% | 0.2% |
净利率KMTVNET
| Q4 25 | 6.4% | — | ||
| Q3 25 | 4.7% | -10.7% | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 6.5% | -0.8% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 4.6% | -0.7% | ||
| Q2 24 | 6.8% | -0.4% | ||
| Q1 24 | 3.7% | -8.4% |
每股收益（稀释后）KMTVNET
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.30 | — | ||
| Q2 25 | $0.28 | — | ||
| Q1 25 | $0.41 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.28 | — | ||
| Q2 24 | $0.47 | — | ||
| Q1 24 | $0.24 | — |
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 | $129.3M | $492.1M |
| 总债务越低越好 | $597.2M | — |
| 股东权益账面价值 | $1.3B | $890.8M |
| 总资产 | $2.6B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资KMTVNET
| Q4 25 | $129.3M | — | ||
| Q3 25 | $103.5M | $492.1M | ||
| Q2 25 | $140.5M | — | ||
| Q1 25 | $97.5M | $544.3M | ||
| Q4 24 | $121.2M | — | ||
| Q3 24 | $119.6M | $219.5M | ||
| Q2 24 | $128.0M | $247.2M | ||
| Q1 24 | $92.1M | $246.9M |
总债务KMTVNET
| Q4 25 | $597.2M | — | ||
| Q3 25 | $597.0M | — | ||
| Q2 25 | $596.8M | — | ||
| Q1 25 | $596.6M | — | ||
| Q4 24 | $596.4M | — | ||
| Q3 24 | $596.2M | $1.2B | ||
| Q2 24 | $596.0M | — | ||
| Q1 24 | $595.8M | — |
股东权益KMTVNET
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | $890.8M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | $927.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.3B | $902.9M | ||
| Q2 24 | $1.2B | $900.6M | ||
| Q1 24 | $1.3B | $895.1M |
总资产KMTVNET
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.5B | $6.1B | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.5B | $5.4B | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.5B | $4.3B | ||
| Q2 24 | $2.5B | $4.0B | ||
| Q1 24 | $2.5B | $3.9B |
负债/权益比KMTVNET
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.46× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.49× | — | ||
| Q3 24 | 0.47× | 1.28× | ||
| Q2 24 | 0.48× | — | ||
| Q1 24 | 0.47× | — |
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 | $55.1M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $42.4M | $-193.1M |
| 自由现金流率自由现金流/营收 | 8.0% | -53.2% |
| 资本支出强度资本支出/营收 | 2.4% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.63× | — |
| 过去12个月自由现金流最近4个季度 | $99.3M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流KMTVNET
| Q4 25 | $55.1M | — | ||
| Q3 25 | $17.5M | $113.8M | ||
| Q2 25 | $78.6M | — | ||
| Q1 25 | $28.8M | $27.0M | ||
| Q4 24 | $55.2M | — | ||
| Q3 24 | $45.7M | $108.3M | ||
| Q2 24 | $113.6M | $55.8M | ||
| Q1 24 | $75.2M | $37.1M |
自由现金流KMTVNET
| Q4 25 | $42.4M | — | ||
| Q3 25 | $-5.5M | $-193.1M | ||
| Q2 25 | $57.1M | — | ||
| Q1 25 | $5.3M | $-220.0M | ||
| Q4 24 | $35.9M | — | ||
| Q3 24 | $21.0M | $-95.0M | ||
| Q2 24 | $90.3M | $-81.6M | ||
| Q1 24 | $48.4M | $-102.2M |
自由现金流率KMTVNET
| Q4 25 | 8.0% | — | ||
| Q3 25 | -1.1% | -53.2% | ||
| Q2 25 | 11.1% | — | ||
| Q1 25 | 1.1% | -71.1% | ||
| Q4 24 | 7.5% | — | ||
| Q3 24 | 4.4% | -31.4% | ||
| Q2 24 | 16.6% | -29.8% | ||
| Q1 24 | 9.4% | -38.9% |
资本支出强度KMTVNET
| Q4 25 | 2.4% | — | ||
| Q3 25 | 4.6% | 84.6% | ||
| Q2 25 | 4.2% | — | ||
| Q1 25 | 4.8% | 79.8% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 5.1% | 67.3% | ||
| Q2 24 | 4.3% | 50.1% | ||
| Q1 24 | 5.2% | 53.0% |
现金转化率KMTVNET
| Q4 25 | 1.63× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 3.64× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | 3.08× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.06× | — | ||
| Q1 24 | 3.96× | — |
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
KMT
| Metal Cutting | $331.1M | 63% |
| Infrastructure | $198.5M | 37% |
VNET
暂无分部数据
