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LAMAR ADVERTISING CO（LAMR）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
LAMAR ADVERTISING CO的季度营收约是世纪互联的1.6倍（$595.9M vs $362.7M），LAMAR ADVERTISING CO净利率更高（25.6% vs -10.7%，领先36.2%），LAMAR ADVERTISING CO自由现金流更多（$208.3M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 9.4%）
拉马尔广告是一家知名户外广告服务商，1902年由查尔斯·W·拉马尔与J.M.科伊创立，总部位于美国路易斯安那州巴吞鲁日。公司业务覆盖美国与加拿大，在两地设有超200个运营网点，旗下在美国境内拥有超过36.3万个广告展示位，涵盖广告牌、标识标牌、公共交通展示载体等品类，2014年转型为房地产投资信托。
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。
LAMR vs VNET — 直观对比
营收规模更大
LAMR
是对方的1.6倍
$362.7M
净利率更高
LAMR
高出36.2%
-10.7%
自由现金流更多
LAMR
多$401.4M
$-193.1M
两年增速更快
VNET
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $595.9M | $362.7M |
| 净利润 | $152.3M | $-38.7M |
| 毛利率 | 67.7% | 20.9% |
| 营业利润率 | 32.9% | 0.5% |
| 净利率 | 25.6% | -10.7% |
| 营收同比 | 2.8% | — |
| 净利润同比 | 12801.3% | — |
| 每股收益（稀释后） | $1.50 | — |
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LAMRVNET
| Q4 25 | $595.9M | — | ||
| Q3 25 | $585.5M | $362.7M | ||
| Q2 25 | $579.3M | — | ||
| Q1 25 | $505.4M | $309.5M | ||
| Q4 24 | $579.6M | — | ||
| Q3 24 | $564.1M | $302.2M | ||
| Q2 24 | $565.3M | $274.4M | ||
| Q1 24 | $498.1M | $262.9M |
净利润LAMRVNET
| Q4 25 | $152.3M | — | ||
| Q3 25 | $141.8M | $-38.7M | ||
| Q2 25 | $154.4M | — | ||
| Q1 25 | $138.8M | $-2.4M | ||
| Q4 24 | $-1.2M | — | ||
| Q3 24 | $147.5M | $-2.1M | ||
| Q2 24 | $137.4M | $-1.1M | ||
| Q1 24 | $78.2M | $-22.0M |
毛利率LAMRVNET
| Q4 25 | 67.7% | — | ||
| Q3 25 | 67.9% | 20.9% | ||
| Q2 25 | 67.8% | — | ||
| Q1 25 | 64.4% | 25.2% | ||
| Q4 24 | 67.8% | — | ||
| Q3 24 | 67.6% | 23.2% | ||
| Q2 24 | 67.6% | 21.3% | ||
| Q1 24 | 64.7% | 21.6% |
营业利润率LAMRVNET
| Q4 25 | 32.9% | — | ||
| Q3 25 | 32.3% | 0.5% | ||
| Q2 25 | 34.1% | — | ||
| Q1 25 | 37.8% | 0.1% | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 33.1% | 24.5% | ||
| Q2 24 | 32.6% | 0.2% | ||
| Q1 24 | 25.0% | 0.2% |
净利率LAMRVNET
| Q4 25 | 25.6% | — | ||
| Q3 25 | 24.2% | -10.7% | ||
| Q2 25 | 26.6% | — | ||
| Q1 25 | 27.5% | -0.8% | ||
| Q4 24 | -0.2% | — | ||
| Q3 24 | 26.1% | -0.7% | ||
| Q2 24 | 24.3% | -0.4% | ||
| Q1 24 | 15.7% | -8.4% |
每股收益（稀释后）LAMRVNET
| Q4 25 | $1.50 | — | ||
| Q3 25 | $1.40 | — | ||
| Q2 25 | $1.52 | — | ||
| Q1 25 | $1.35 | — | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $1.44 | — | ||
| Q2 24 | $1.34 | — | ||
| Q1 24 | $0.76 | — |
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 | $64.8M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.0B | $890.8M |
| 总资产 | $6.9B | $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LAMRVNET
| Q4 25 | $64.8M | — | ||
| Q3 25 | $22.0M | $492.1M | ||
| Q2 25 | $55.7M | — | ||
| Q1 25 | $36.1M | $544.3M | ||
| Q4 24 | $49.5M | — | ||
| Q3 24 | $29.5M | $219.5M | ||
| Q2 24 | $77.9M | $247.2M | ||
| Q1 24 | $36.4M | $246.9M |
总债务LAMRVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益LAMRVNET
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $890.8M | ||
| Q2 25 | $906.9M | — | ||
| Q1 25 | $1.0B | $927.8M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.2B | $902.9M | ||
| Q2 24 | $1.2B | $900.6M | ||
| Q1 24 | $1.2B | $895.1M |
总资产LAMRVNET
| Q4 25 | $6.9B | — | ||
| Q3 25 | $6.8B | $6.1B | ||
| Q2 25 | $6.7B | — | ||
| Q1 25 | $6.5B | $5.4B | ||
| Q4 24 | $6.6B | — | ||
| Q3 24 | $6.5B | $4.3B | ||
| Q2 24 | $6.6B | $4.0B | ||
| Q1 24 | $6.5B | $3.9B |
负债/权益比LAMRVNET
| 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 | $271.2M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $208.3M | $-193.1M |
| 自由现金流率自由现金流/营收 | 35.0% | -53.2% |
| 资本支出强度资本支出/营收 | 10.5% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.78× | — |
| 过去12个月自由现金流最近4个季度 | $683.2M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流LAMRVNET
| Q4 25 | $271.2M | — | ||
| Q3 25 | $235.7M | $113.8M | ||
| Q2 25 | $229.5M | — | ||
| Q1 25 | $127.7M | $27.0M | ||
| Q4 24 | $279.3M | — | ||
| Q3 24 | $227.4M | $108.3M | ||
| Q2 24 | $256.3M | $55.8M | ||
| Q1 24 | $110.6M | $37.1M |
自由现金流LAMRVNET
| Q4 25 | $208.3M | — | ||
| Q3 25 | $185.8M | $-193.1M | ||
| Q2 25 | $191.3M | — | ||
| Q1 25 | $97.9M | $-220.0M | ||
| Q4 24 | $236.3M | — | ||
| Q3 24 | $197.3M | $-95.0M | ||
| Q2 24 | $233.7M | $-81.6M | ||
| Q1 24 | $81.1M | $-102.2M |
自由现金流率LAMRVNET
| Q4 25 | 35.0% | — | ||
| Q3 25 | 31.7% | -53.2% | ||
| Q2 25 | 33.0% | — | ||
| Q1 25 | 19.4% | -71.1% | ||
| Q4 24 | 40.8% | — | ||
| Q3 24 | 35.0% | -31.4% | ||
| Q2 24 | 41.3% | -29.8% | ||
| Q1 24 | 16.3% | -38.9% |
资本支出强度LAMRVNET
| Q4 25 | 10.5% | — | ||
| Q3 25 | 8.5% | 84.6% | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 5.9% | 79.8% | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 5.3% | 67.3% | ||
| Q2 24 | 4.0% | 50.1% | ||
| Q1 24 | 5.9% | 53.0% |
现金转化率LAMRVNET
| Q4 25 | 1.78× | — | ||
| Q3 25 | 1.66× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 1.41× | — |
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
LAMR
| Reportable Segment Aggregation Before Other Operating Segment | $531.9M | 89% |
| Transit Advertising | $42.0M | 7% |
| Logo Advertising | $22.1M | 4% |
VNET
暂无分部数据
