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乐至宝（LZB）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
乐至宝的季度营收约是世纪互联的1.5倍（$541.6M vs $362.7M），乐至宝净利率更高（4.0% vs -10.7%，领先14.7%），乐至宝自由现金流更多（$71.6M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -1.1%）
La-Z-Boy是总部位于美国密歇根州门罗的家具制造企业，主打居家家具产品，涵盖软垫 recliner、沙发、固定座椅、升降椅、沙发床等品类，全球员工规模超过11000人，是休闲家居领域的知名品牌。
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。
LZB vs VNET — 直观对比
营收规模更大
LZB
是对方的1.5倍
$362.7M
净利率更高
LZB
高出14.7%
-10.7%
自由现金流更多
LZB
多$264.6M
$-193.1M
两年增速更快
VNET
近两年复合增速
-1.1%
损益表 — Q3 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $541.6M | $362.7M |
| 净利润 | $21.6M | $-38.7M |
| 毛利率 | 43.1% | 20.9% |
| 营业利润率 | 5.5% | 0.5% |
| 净利率 | 4.0% | -10.7% |
| 营收同比 | 3.8% | — |
| 净利润同比 | -23.8% | — |
| 每股收益（稀释后） | $0.52 | — |
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LZBVNET
| Q1 26 | $541.6M | — | ||
| Q4 25 | $522.5M | — | ||
| Q3 25 | $492.2M | $362.7M | ||
| Q2 25 | $570.9M | — | ||
| Q1 25 | $521.8M | $309.5M | ||
| Q4 24 | $521.0M | — | ||
| Q3 24 | $495.5M | $302.2M | ||
| Q2 24 | $553.5M | $274.4M |
净利润LZBVNET
| Q1 26 | $21.6M | — | ||
| Q4 25 | $28.9M | — | ||
| Q3 25 | $18.2M | $-38.7M | ||
| Q2 25 | $14.9M | — | ||
| Q1 25 | $28.4M | $-2.4M | ||
| Q4 24 | $30.0M | — | ||
| Q3 24 | $26.2M | $-2.1M | ||
| Q2 24 | $39.3M | $-1.1M |
毛利率LZBVNET
| Q1 26 | 43.1% | — | ||
| Q4 25 | 44.2% | — | ||
| Q3 25 | 42.5% | 20.9% | ||
| Q2 25 | 44.0% | — | ||
| Q1 25 | 44.3% | 25.2% | ||
| Q4 24 | 44.3% | — | ||
| Q3 24 | 43.1% | 23.2% | ||
| Q2 24 | 43.4% | 21.3% |
营业利润率LZBVNET
| Q1 26 | 5.5% | — | ||
| Q4 25 | 6.9% | — | ||
| Q3 25 | 4.5% | 0.5% | ||
| Q2 25 | 5.2% | — | ||
| Q1 25 | 6.7% | 0.1% | ||
| Q4 24 | 7.4% | — | ||
| Q3 24 | 6.5% | 24.5% | ||
| Q2 24 | 9.1% | 0.2% |
净利率LZBVNET
| Q1 26 | 4.0% | — | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | 3.7% | -10.7% | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 5.4% | -0.8% | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 5.3% | -0.7% | ||
| Q2 24 | 7.1% | -0.4% |
每股收益（稀释后）LZBVNET
| Q1 26 | $0.52 | — | ||
| Q4 25 | $0.70 | — | ||
| Q3 25 | $0.44 | — | ||
| Q2 25 | $0.35 | — | ||
| Q1 25 | $0.68 | — | ||
| Q4 24 | $0.71 | — | ||
| Q3 24 | $0.61 | — | ||
| Q2 24 | $0.91 | — |
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 | $306.1M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.0B | $890.8M |
| 总资产 | $2.1B | $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LZBVNET
| Q1 26 | $306.1M | — | ||
| Q4 25 | $338.5M | — | ||
| Q3 25 | $318.5M | $492.1M | ||
| Q2 25 | $328.4M | — | ||
| Q1 25 | $314.6M | $544.3M | ||
| Q4 24 | $303.1M | — | ||
| Q3 24 | $342.3M | $219.5M | ||
| Q2 24 | $341.1M | $247.2M |
总债务LZBVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益LZBVNET
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $890.8M | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | $927.8M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $999.2M | $902.9M | ||
| Q2 24 | $1.0B | $900.6M |
总资产LZBVNET
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.9B | $6.1B | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | $5.4B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.9B | $4.3B | ||
| Q2 24 | $1.9B | $4.0B |
负债/权益比LZBVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 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 | $89.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $71.6M | $-193.1M |
| 自由现金流率自由现金流/营收 | 13.2% | -53.2% |
| 资本支出强度资本支出/营收 | 3.3% | 84.6% |
| 现金转化率经营现金流/净利润 | 4.13× | — |
| 过去12个月自由现金流最近4个季度 | $158.2M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流LZBVNET
| Q1 26 | $89.4M | — | ||
| Q4 25 | $50.0M | — | ||
| Q3 25 | $36.3M | $113.8M | ||
| Q2 25 | $62.0M | — | ||
| Q1 25 | $57.0M | $27.0M | ||
| Q4 24 | $15.9M | — | ||
| Q3 24 | $52.3M | $108.3M | ||
| Q2 24 | $52.8M | $55.8M |
自由现金流LZBVNET
| Q1 26 | $71.6M | — | ||
| Q4 25 | $29.6M | — | ||
| Q3 25 | $17.8M | $-193.1M | ||
| Q2 25 | $39.3M | — | ||
| Q1 25 | $38.2M | $-220.0M | ||
| Q4 24 | $-1.2M | — | ||
| Q3 24 | $36.7M | $-95.0M | ||
| Q2 24 | $37.3M | $-81.6M |
自由现金流率LZBVNET
| Q1 26 | 13.2% | — | ||
| Q4 25 | 5.7% | — | ||
| Q3 25 | 3.6% | -53.2% | ||
| Q2 25 | 6.9% | — | ||
| Q1 25 | 7.3% | -71.1% | ||
| Q4 24 | -0.2% | — | ||
| Q3 24 | 7.4% | -31.4% | ||
| Q2 24 | 6.7% | -29.8% |
资本支出强度LZBVNET
| Q1 26 | 3.3% | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 3.8% | 84.6% | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 3.6% | 79.8% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 3.2% | 67.3% | ||
| Q2 24 | 2.8% | 50.1% |
现金转化率LZBVNET
| Q1 26 | 4.13× | — | ||
| Q4 25 | 1.73× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 4.15× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 1.34× | — |
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
LZB
| Stationary Upholstery Furniture | $286.2M | 53% |
| Retail Segment | $251.9M | 47% |
VNET
暂无分部数据
