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LINDBLAD EXPEDITIONS HOLDINGS, INC.（LIND）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LINDBLAD EXPEDITIONS HOLDINGS, INC.的2.0倍（$362.7M vs $183.2M），世纪互联净利率更高（-10.7% vs -12.9%，领先2.2%），LINDBLAD EXPEDITIONS HOLDINGS, INC.自由现金流更多（$3.5M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 9.2%）
林德布拉德探险控股是一家专业探险旅行企业，总部位于美国纽约。目前公司运营15艘探险邮轮，载客量从28人到150人不等，可为旅行者提供覆盖全球七大洲目的地的探险邮轮旅程。
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。
LIND vs VNET — 直观对比
营收规模更大
VNET
是对方的2.0倍
$183.2M
净利率更高
VNET
高出2.2%
-12.9%
自由现金流更多
LIND
多$196.6M
$-193.1M
两年增速更快
VNET
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $362.7M |
| 净利润 | $-23.6M | $-38.7M |
| 毛利率 | 40.3% | 20.9% |
| 营业利润率 | -3.0% | 0.5% |
| 净利率 | -12.9% | -10.7% |
| 营收同比 | 23.3% | — |
| 净利润同比 | 6.0% | — |
| 每股收益（稀释后） | $-0.45 | — |
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LINDVNET
| Q4 25 | $183.2M | — | ||
| Q3 25 | $240.2M | $362.7M | ||
| Q2 25 | $167.9M | — | ||
| Q1 25 | $179.7M | $309.5M | ||
| Q4 24 | $148.6M | — | ||
| Q3 24 | $206.0M | $302.2M | ||
| Q2 24 | $136.5M | $274.4M | ||
| Q1 24 | $153.6M | $262.9M |
净利润LINDVNET
| Q4 25 | $-23.6M | — | ||
| Q3 25 | $1.2M | $-38.7M | ||
| Q2 25 | $-8.5M | — | ||
| Q1 25 | $1.2M | $-2.4M | ||
| Q4 24 | $-25.0M | — | ||
| Q3 24 | $22.5M | $-2.1M | ||
| Q2 24 | $-24.7M | $-1.1M | ||
| Q1 24 | $-4.0M | $-22.0M |
毛利率LINDVNET
| Q4 25 | 40.3% | — | ||
| Q3 25 | 48.2% | 20.9% | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 48.3% | 25.2% | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 46.7% | 23.2% | ||
| Q2 24 | 39.2% | 21.3% | ||
| Q1 24 | 45.0% | 21.6% |
营业利润率LINDVNET
| Q4 25 | -3.0% | — | ||
| Q3 25 | 15.0% | 0.5% | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 5.9% | 0.1% | ||
| Q4 24 | -5.1% | — | ||
| Q3 24 | 14.3% | 24.5% | ||
| Q2 24 | -6.0% | 0.2% | ||
| Q1 24 | 5.1% | 0.2% |
净利率LINDVNET
| Q4 25 | -12.9% | — | ||
| Q3 25 | 0.5% | -10.7% | ||
| Q2 25 | -5.1% | — | ||
| Q1 25 | 0.6% | -0.8% | ||
| Q4 24 | -16.9% | — | ||
| Q3 24 | 10.9% | -0.7% | ||
| Q2 24 | -18.1% | -0.4% | ||
| Q1 24 | -2.6% | -8.4% |
每股收益（稀释后）LINDVNET
| Q4 25 | $-0.45 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.18 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $-0.45 | — | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $-0.48 | — | ||
| Q1 24 | $-0.10 | — |
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 | $256.7M | $492.1M |
| 总债务越低越好 | $662.7M | — |
| 股东权益账面价值 | $-284.5M | $890.8M |
| 总资产 | $980.0M | $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LINDVNET
| Q4 25 | $256.7M | — | ||
| Q3 25 | $261.8M | $492.1M | ||
| Q2 25 | $200.9M | — | ||
| Q1 25 | $188.9M | $544.3M | ||
| Q4 24 | $183.9M | — | ||
| Q3 24 | $193.9M | $219.5M | ||
| Q2 24 | $168.1M | $247.2M | ||
| Q1 24 | $177.7M | $246.9M |
总债务LINDVNET
| Q4 25 | $662.7M | — | ||
| Q3 25 | $663.5M | — | ||
| Q2 25 | $627.3M | — | ||
| Q1 25 | $626.4M | — | ||
| Q4 24 | $625.5M | — | ||
| Q3 24 | $624.5M | $1.2B | ||
| Q2 24 | $623.6M | — | ||
| Q1 24 | $622.7M | — |
股东权益LINDVNET
| Q4 25 | $-284.5M | — | ||
| Q3 25 | $-256.6M | $890.8M | ||
| Q2 25 | $-263.8M | — | ||
| Q1 25 | $-252.2M | $927.8M | ||
| Q4 24 | $-253.1M | — | ||
| Q3 24 | $-226.9M | $902.9M | ||
| Q2 24 | $-255.5M | $900.6M | ||
| Q1 24 | $-227.4M | $895.1M |
总资产LINDVNET
| Q4 25 | $980.0M | — | ||
| Q3 25 | $976.5M | $6.1B | ||
| Q2 25 | $936.5M | — | ||
| Q1 25 | $908.8M | $5.4B | ||
| Q4 24 | $876.9M | — | ||
| Q3 24 | $889.8M | $4.3B | ||
| Q2 24 | $858.3M | $4.0B | ||
| Q1 24 | $868.0M | $3.9B |
负债/权益比LINDVNET
| 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 | $14.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $3.5M | $-193.1M |
| 自由现金流率自由现金流/营收 | 1.9% | -53.2% |
| 资本支出强度资本支出/营收 | 6.0% | 84.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $63.8M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流LINDVNET
| Q4 25 | $14.4M | — | ||
| Q3 25 | $19.5M | $113.8M | ||
| Q2 25 | $29.2M | — | ||
| Q1 25 | $48.4M | $27.0M | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $28.1M | $108.3M | ||
| Q2 24 | $18.6M | $55.8M | ||
| Q1 24 | $43.9M | $37.1M |
自由现金流LINDVNET
| Q4 25 | $3.5M | — | ||
| Q3 25 | $11.9M | $-193.1M | ||
| Q2 25 | $13.5M | — | ||
| Q1 25 | $35.0M | $-220.0M | ||
| Q4 24 | $-8.2M | — | ||
| Q3 24 | $18.4M | $-95.0M | ||
| Q2 24 | $11.2M | $-81.6M | ||
| Q1 24 | $37.4M | $-102.2M |
自由现金流率LINDVNET
| Q4 25 | 1.9% | — | ||
| Q3 25 | 5.0% | -53.2% | ||
| Q2 25 | 8.0% | — | ||
| Q1 25 | 19.5% | -71.1% | ||
| Q4 24 | -5.5% | — | ||
| Q3 24 | 8.9% | -31.4% | ||
| Q2 24 | 8.2% | -29.8% | ||
| Q1 24 | 24.4% | -38.9% |
资本支出强度LINDVNET
| Q4 25 | 6.0% | — | ||
| Q3 25 | 3.2% | 84.6% | ||
| Q2 25 | 9.4% | — | ||
| Q1 25 | 7.5% | 79.8% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 4.7% | 67.3% | ||
| Q2 24 | 5.4% | 50.1% | ||
| Q1 24 | 4.2% | 53.0% |
现金转化率LINDVNET
| Q4 25 | — | — | ||
| Q3 25 | 16.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 41.69× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.25× | — | ||
| 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
业务分部营收拆解
LIND
| Guest Ticket | $96.5M | 53% |
| Landexperience | $67.3M | 37% |
| Other Tour | $19.4M | 11% |
VNET
暂无分部数据
