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MDU RESOURCES GROUP INC（MDU）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
MDU RESOURCES GROUP INC的季度营收约是世纪互联的1.4倍（$522.6M vs $362.7M），MDU RESOURCES GROUP INC净利率更高（14.6% vs -10.7%，领先25.3%），世纪互联自由现金流更多（$-193.1M vs $-336.0M），过去两年世纪互联的营收复合增速更高（17.4% vs -5.7%）
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
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。
MDU vs VNET — 直观对比
营收规模更大
MDU
是对方的1.4倍
$362.7M
净利率更高
MDU
高出25.3%
-10.7%
自由现金流更多
VNET
多$142.9M
$-336.0M
两年增速更快
VNET
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $522.6M | $362.7M |
| 净利润 | $76.3M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 20.5% | 0.5% |
| 净利率 | 14.6% | -10.7% |
| 营收同比 | -1.6% | — |
| 净利润同比 | 38.4% | — |
| 每股收益（稀释后） | $0.37 | — |
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MDUVNET
| Q4 25 | $522.6M | — | ||
| Q3 25 | $313.6M | $362.7M | ||
| Q2 25 | $348.7M | — | ||
| Q1 25 | $678.0M | $309.5M | ||
| Q4 24 | $531.0M | — | ||
| Q3 24 | $290.7M | $302.2M | ||
| Q2 24 | $343.1M | $274.4M | ||
| Q1 24 | $588.2M | $262.9M |
净利润MDUVNET
| Q4 25 | $76.3M | — | ||
| Q3 25 | $18.3M | $-38.7M | ||
| Q2 25 | $13.8M | — | ||
| Q1 25 | $82.0M | $-2.4M | ||
| Q4 24 | $55.2M | — | ||
| Q3 24 | $64.6M | $-2.1M | ||
| Q2 24 | $60.4M | $-1.1M | ||
| Q1 24 | $100.9M | $-22.0M |
毛利率MDUVNET
| 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MDUVNET
| Q4 25 | 20.5% | — | ||
| Q3 25 | 12.7% | 0.5% | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 16.6% | 0.1% | ||
| Q4 24 | 17.8% | — | ||
| Q3 24 | 12.0% | 24.5% | ||
| Q2 24 | 11.5% | 0.2% | ||
| Q1 24 | 16.4% | 0.2% |
净利率MDUVNET
| Q4 25 | 14.6% | — | ||
| Q3 25 | 5.8% | -10.7% | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 12.1% | -0.8% | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 22.2% | -0.7% | ||
| Q2 24 | 17.6% | -0.4% | ||
| Q1 24 | 17.2% | -8.4% |
每股收益（稀释后）MDUVNET
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.09 | — | ||
| Q2 25 | $0.07 | — | ||
| Q1 25 | $0.40 | — | ||
| Q4 24 | $0.26 | — | ||
| Q3 24 | $0.32 | — | ||
| Q2 24 | $0.30 | — | ||
| Q1 24 | $0.49 | — |
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 | $28.2M | $492.1M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $2.8B | $890.8M |
| 总资产 | $7.6B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.97× | — |
8季度趋势，按日历期对齐
现金及短期投资MDUVNET
| Q4 25 | $28.2M | — | ||
| Q3 25 | $75.9M | $492.1M | ||
| Q2 25 | $58.8M | — | ||
| Q1 25 | $59.5M | $544.3M | ||
| Q4 24 | $66.9M | — | ||
| Q3 24 | $88.3M | $219.5M | ||
| Q2 24 | $78.8M | $247.2M | ||
| Q1 24 | $72.7M | $246.9M |
总债务MDUVNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $1.2B | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.3B | — |
股东权益MDUVNET
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.7B | $890.8M | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.7B | $927.8M | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $3.1B | $902.9M | ||
| Q2 24 | $3.0B | $900.6M | ||
| Q1 24 | $3.0B | $895.1M |
总资产MDUVNET
| Q4 25 | $7.6B | — | ||
| Q3 25 | $7.2B | $6.1B | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $7.0B | $5.4B | ||
| Q4 24 | $7.0B | — | ||
| Q3 24 | $8.2B | $4.3B | ||
| Q2 24 | $8.0B | $4.0B | ||
| Q1 24 | $7.8B | $3.9B |
负债/权益比MDUVNET
| Q4 25 | 0.97× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.76× | 1.28× | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 0.76× | — |
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 | $80.6M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-336.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | -64.3% | -53.2% |
| 资本支出强度资本支出/营收 | 79.7% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.06× | — |
| 过去12个月自由现金流最近4个季度 | $-297.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流MDUVNET
| Q4 25 | $80.6M | — | ||
| Q3 25 | $57.9M | $113.8M | ||
| Q2 25 | $117.4M | — | ||
| Q1 25 | $217.5M | $27.0M | ||
| Q4 24 | $60.5M | — | ||
| Q3 24 | $140.2M | $108.3M | ||
| Q2 24 | $136.5M | $55.8M | ||
| Q1 24 | $165.1M | $37.1M |
自由现金流MDUVNET
| Q4 25 | $-336.0M | — | ||
| Q3 25 | $-121.9M | $-193.1M | ||
| Q2 25 | $36.5M | — | ||
| Q1 25 | $124.4M | $-220.0M | ||
| Q4 24 | $-95.8M | — | ||
| Q3 24 | $673.0K | $-95.0M | ||
| Q2 24 | $26.5M | $-81.6M | ||
| Q1 24 | $48.1M | $-102.2M |
自由现金流率MDUVNET
| Q4 25 | -64.3% | — | ||
| Q3 25 | -38.9% | -53.2% | ||
| Q2 25 | 10.5% | — | ||
| Q1 25 | 18.4% | -71.1% | ||
| Q4 24 | -18.0% | — | ||
| Q3 24 | 0.2% | -31.4% | ||
| Q2 24 | 7.7% | -29.8% | ||
| Q1 24 | 8.2% | -38.9% |
资本支出强度MDUVNET
| Q4 25 | 79.7% | — | ||
| Q3 25 | 57.3% | 84.6% | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | 13.7% | 79.8% | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 48.0% | 67.3% | ||
| Q2 24 | 32.0% | 50.1% | ||
| Q1 24 | 19.9% | 53.0% |
现金转化率MDUVNET
| Q4 25 | 1.06× | — | ||
| Q3 25 | 3.16× | — | ||
| Q2 25 | 8.52× | — | ||
| Q1 25 | 2.65× | — | ||
| Q4 24 | 1.10× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.26× | — | ||
| Q1 24 | 1.64× | — |
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
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
VNET
暂无分部数据
