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Stride, Inc.（LRN）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
Stride, Inc.的季度营收约是世纪互联的1.7倍（$629.9M vs $362.7M），Stride, Inc.净利率更高（14.1% vs -10.7%，领先24.7%），过去两年世纪互联的营收复合增速更高（17.4% vs 6.9%）
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
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。
LRN vs VNET — 直观对比
营收规模更大
LRN
是对方的1.7倍
$362.7M
净利率更高
LRN
高出24.7%
-10.7%
两年增速更快
VNET
近两年复合增速
6.9%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $629.9M | $362.7M |
| 净利润 | $88.5M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 20.5% | 0.5% |
| 净利率 | 14.1% | -10.7% |
| 营收同比 | 2.7% | — |
| 净利润同比 | 8.5% | — |
| 每股收益（稀释后） | $1.93 | — |
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LRNVNET
| Q3 26 | $629.9M | — | ||
| Q4 25 | $631.3M | — | ||
| Q3 25 | $620.9M | $362.7M | ||
| Q2 25 | $653.6M | — | ||
| Q1 25 | $613.4M | $309.5M | ||
| Q4 24 | $587.2M | — | ||
| Q3 24 | $551.1M | $302.2M | ||
| Q2 24 | — | $274.4M |
净利润LRNVNET
| Q3 26 | $88.5M | — | ||
| Q4 25 | $99.5M | — | ||
| Q3 25 | $68.8M | $-38.7M | ||
| Q2 25 | $51.3M | — | ||
| Q1 25 | $99.3M | $-2.4M | ||
| Q4 24 | $96.4M | — | ||
| Q3 24 | $40.9M | $-2.1M | ||
| Q2 24 | — | $-1.1M |
毛利率LRNVNET
| Q3 26 | — | — | ||
| Q4 25 | 41.1% | — | ||
| Q3 25 | 39.0% | 20.9% | ||
| Q2 25 | 36.6% | — | ||
| Q1 25 | 40.6% | 25.2% | ||
| Q4 24 | 40.8% | — | ||
| Q3 24 | 39.2% | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率LRNVNET
| Q3 26 | 20.5% | — | ||
| Q4 25 | 23.3% | — | ||
| Q3 25 | 11.1% | 0.5% | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 21.3% | 0.1% | ||
| Q4 24 | 21.3% | — | ||
| Q3 24 | 8.6% | 24.5% | ||
| Q2 24 | — | 0.2% |
净利率LRNVNET
| Q3 26 | 14.1% | — | ||
| Q4 25 | 15.8% | — | ||
| Q3 25 | 11.1% | -10.7% | ||
| Q2 25 | 7.9% | — | ||
| Q1 25 | 16.2% | -0.8% | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | 7.4% | -0.7% | ||
| Q2 24 | — | -0.4% |
每股收益（稀释后）LRNVNET
| Q3 26 | $1.93 | — | ||
| Q4 25 | $2.12 | — | ||
| Q3 25 | $1.40 | — | ||
| Q2 25 | $0.96 | — | ||
| Q1 25 | $2.02 | — | ||
| Q4 24 | $2.03 | — | ||
| Q3 24 | $0.94 | — | ||
| Q2 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 | $614.0M | $492.1M |
| 总债务越低越好 | $417.6M | — |
| 股东权益账面价值 | $1.6B | $890.8M |
| 总资产 | $2.4B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.25× | — |
8季度趋势，按日历期对齐
现金及短期投资LRNVNET
| Q3 26 | $614.0M | — | ||
| Q4 25 | $625.7M | — | ||
| Q3 25 | $715.1M | $492.1M | ||
| Q2 25 | $985.3M | — | ||
| Q1 25 | $723.7M | $544.3M | ||
| Q4 24 | $717.5M | — | ||
| Q3 24 | $522.2M | $219.5M | ||
| Q2 24 | — | $247.2M |
总债务LRNVNET
| Q3 26 | $417.6M | — | ||
| Q4 25 | $417.2M | — | ||
| Q3 25 | $416.8M | — | ||
| Q2 25 | $416.3M | — | ||
| Q1 25 | $415.9M | — | ||
| Q4 24 | $415.5M | — | ||
| Q3 24 | $415.1M | $1.2B | ||
| Q2 24 | — | — |
股东权益LRNVNET
| Q3 26 | $1.6B | — | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $890.8M | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.4B | $927.8M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | $902.9M | ||
| Q2 24 | — | $900.6M |
总资产LRNVNET
| Q3 26 | $2.4B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | $6.1B | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | $5.4B | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.0B | $4.3B | ||
| Q2 24 | — | $4.0B |
负债/权益比LRNVNET
| Q3 26 | 0.25× | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.28× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.34× | 1.28× | ||
| Q2 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 | $117.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | — | 84.6% |
| 现金转化率经营现金流/净利润 | 1.32× | — |
| 过去12个月自由现金流最近4个季度 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流LRNVNET
| Q3 26 | $117.0M | — | ||
| Q4 25 | $91.8M | — | ||
| Q3 25 | $-195.8M | $113.8M | ||
| Q2 25 | $298.3M | — | ||
| Q1 25 | $53.1M | $27.0M | ||
| Q4 24 | $223.4M | — | ||
| Q3 24 | $-142.0M | $108.3M | ||
| Q2 24 | — | $55.8M |
自由现金流LRNVNET
| Q3 26 | — | — | ||
| Q4 25 | $91.6M | — | ||
| Q3 25 | $-196.1M | $-193.1M | ||
| Q2 25 | $297.9M | — | ||
| Q1 25 | $52.9M | $-220.0M | ||
| Q4 24 | $222.9M | — | ||
| Q3 24 | $-142.7M | $-95.0M | ||
| Q2 24 | — | $-81.6M |
自由现金流率LRNVNET
| Q3 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | -31.6% | -53.2% | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 8.6% | -71.1% | ||
| Q4 24 | 38.0% | — | ||
| Q3 24 | -25.9% | -31.4% | ||
| Q2 24 | — | -29.8% |
资本支出强度LRNVNET
| Q3 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | 84.6% | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.0% | 79.8% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.1% | 67.3% | ||
| Q2 24 | — | 50.1% |
现金转化率LRNVNET
| Q3 26 | 1.32× | — | ||
| Q4 25 | 0.92× | — | ||
| Q3 25 | -2.85× | — | ||
| Q2 25 | 5.81× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 2.32× | — | ||
| Q3 24 | -3.47× | — | ||
| Q2 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
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
VNET
暂无分部数据
