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KILROY REALTY CORP（KRC）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KILROY REALTY CORP的1.3倍（$362.7M vs $272.2M），KILROY REALTY CORP净利率更高（6.3% vs -10.7%，领先16.9%），KILROY REALTY CORP自由现金流更多（$450.3M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -1.2%）
基尔罗伊房地产公司是美国领先的房地产投资信托企业，主要在洛杉矶、旧金山、西雅图、圣地亚哥等美国西海岸核心市场开发、持有及运营优质办公、生命科学及混合用途物业，面向科技、生命科学、文创等领域租户，主打可持续的现代化办公空间。
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。
KRC vs VNET — 直观对比
营收规模更大
VNET
是对方的1.3倍
$272.2M
净利率更高
KRC
高出16.9%
-10.7%
自由现金流更多
KRC
多$643.4M
$-193.1M
两年增速更快
VNET
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $272.2M | $362.7M |
| 净利润 | $17.1M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | — | 0.5% |
| 净利率 | 6.3% | -10.7% |
| 营收同比 | -5.0% | — |
| 净利润同比 | -73.7% | — |
| 每股收益（稀释后） | $0.11 | — |
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KRCVNET
| Q4 25 | $272.2M | — | ||
| Q3 25 | $279.7M | $362.7M | ||
| Q2 25 | $289.9M | — | ||
| Q1 25 | $270.8M | $309.5M | ||
| Q4 24 | $286.4M | — | ||
| Q3 24 | $289.9M | $302.2M | ||
| Q2 24 | $280.7M | $274.4M | ||
| Q1 24 | $278.6M | $262.9M |
净利润KRCVNET
| Q4 25 | $17.1M | — | ||
| Q3 25 | $162.3M | $-38.7M | ||
| Q2 25 | $79.6M | — | ||
| Q1 25 | $43.7M | $-2.4M | ||
| Q4 24 | $65.0M | — | ||
| Q3 24 | $57.7M | $-2.1M | ||
| Q2 24 | $54.5M | $-1.1M | ||
| Q1 24 | $55.7M | $-22.0M |
毛利率KRCVNET
| 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KRCVNET
| 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KRCVNET
| Q4 25 | 6.3% | — | ||
| Q3 25 | 58.0% | -10.7% | ||
| Q2 25 | 27.4% | — | ||
| Q1 25 | 16.1% | -0.8% | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 19.9% | -0.7% | ||
| Q2 24 | 19.4% | -0.4% | ||
| Q1 24 | 20.0% | -8.4% |
每股收益（稀释后）KRCVNET
| Q4 25 | $0.11 | — | ||
| Q3 25 | $1.31 | — | ||
| Q2 25 | $0.57 | — | ||
| Q1 25 | $0.33 | — | ||
| Q4 24 | $0.50 | — | ||
| Q3 24 | $0.44 | — | ||
| Q2 24 | $0.41 | — | ||
| Q1 24 | $0.42 | — |
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 | $179.3M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.4B | $890.8M |
| 总资产 | $10.9B | $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KRCVNET
| Q4 25 | $179.3M | — | ||
| Q3 25 | $372.4M | $492.1M | ||
| Q2 25 | $193.1M | — | ||
| Q1 25 | $146.7M | $544.3M | ||
| Q4 24 | $165.7M | — | ||
| Q3 24 | $625.4M | $219.5M | ||
| Q2 24 | $835.9M | $247.2M | ||
| Q1 24 | $855.0M | $246.9M |
总债务KRCVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益KRCVNET
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.5B | $890.8M | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | $927.8M | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.4B | $902.9M | ||
| Q2 24 | $5.4B | $900.6M | ||
| Q1 24 | $5.4B | $895.1M |
总资产KRCVNET
| Q4 25 | $10.9B | — | ||
| Q3 25 | $11.0B | $6.1B | ||
| Q2 25 | $10.9B | — | ||
| Q1 25 | $10.9B | $5.4B | ||
| Q4 24 | $10.9B | — | ||
| Q3 24 | $11.4B | $4.3B | ||
| Q2 24 | $11.5B | $4.0B | ||
| Q1 24 | $11.6B | $3.9B |
负债/权益比KRCVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| 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 | $566.3M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $450.3M | $-193.1M |
| 自由现金流率自由现金流/营收 | 165.4% | -53.2% |
| 资本支出强度资本支出/营收 | 42.6% | 84.6% |
| 现金转化率经营现金流/净利润 | 33.10× | — |
| 过去12个月自由现金流最近4个季度 | $833.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流KRCVNET
| Q4 25 | $566.3M | — | ||
| Q3 25 | $176.6M | $113.8M | ||
| Q2 25 | $143.7M | — | ||
| Q1 25 | $136.9M | $27.0M | ||
| Q4 24 | $541.1M | — | ||
| Q3 24 | $176.3M | $108.3M | ||
| Q2 24 | $88.7M | $55.8M | ||
| Q1 24 | $167.9M | $37.1M |
自由现金流KRCVNET
| Q4 25 | $450.3M | — | ||
| Q3 25 | $148.7M | $-193.1M | ||
| Q2 25 | $118.4M | — | ||
| Q1 25 | $115.6M | $-220.0M | ||
| Q4 24 | $440.8M | — | ||
| Q3 24 | $147.2M | $-95.0M | ||
| Q2 24 | $69.5M | $-81.6M | ||
| Q1 24 | $151.9M | $-102.2M |
自由现金流率KRCVNET
| Q4 25 | 165.4% | — | ||
| Q3 25 | 53.1% | -53.2% | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 42.7% | -71.1% | ||
| Q4 24 | 153.9% | — | ||
| Q3 24 | 50.8% | -31.4% | ||
| Q2 24 | 24.7% | -29.8% | ||
| Q1 24 | 54.5% | -38.9% |
资本支出强度KRCVNET
| Q4 25 | 42.6% | — | ||
| Q3 25 | 10.0% | 84.6% | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 7.9% | 79.8% | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 10.1% | 67.3% | ||
| Q2 24 | 6.8% | 50.1% | ||
| Q1 24 | 5.7% | 53.0% |
现金转化率KRCVNET
| Q4 25 | 33.10× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.81× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 8.32× | — | ||
| Q3 24 | 3.06× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | 3.01× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
