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MSA Safety Inc（MSA）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
MSA Safety Inc的季度营收约是世纪互联的1.4倍（$510.9M vs $362.7M），MSA Safety Inc净利率更高（17.0% vs -10.7%，领先27.7%），MSA Safety Inc自由现金流更多（$106.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 11.2%）
MSA安全是美国专业安全设备生产供应商，面向建筑、军事、消防、化工、油气等存在高危作业场景的多个行业提供安全防护产品及解决方案，总部位于美国匹兹堡近郊的克兰伯里。
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。
MSA vs VNET — 直观对比
营收规模更大
MSA
是对方的1.4倍
$362.7M
净利率更高
MSA
高出27.7%
-10.7%
自由现金流更多
MSA
多$299.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $510.9M | $362.7M |
| 净利润 | $86.9M | $-38.7M |
| 毛利率 | 46.9% | 20.9% |
| 营业利润率 | 22.3% | 0.5% |
| 净利率 | 17.0% | -10.7% |
| 营收同比 | 2.2% | — |
| 净利润同比 | -1.2% | — |
| 每股收益（稀释后） | $2.22 | — |
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MSAVNET
| Q4 25 | $510.9M | — | ||
| Q3 25 | $468.4M | $362.7M | ||
| Q2 25 | $474.1M | — | ||
| Q1 25 | $421.3M | $309.5M | ||
| Q4 24 | $499.7M | — | ||
| Q3 24 | $432.7M | $302.2M | ||
| Q2 24 | $462.5M | $274.4M | ||
| Q1 24 | $413.3M | $262.9M |
净利润MSAVNET
| Q4 25 | $86.9M | — | ||
| Q3 25 | $69.6M | $-38.7M | ||
| Q2 25 | $62.8M | — | ||
| Q1 25 | $59.6M | $-2.4M | ||
| Q4 24 | $87.9M | — | ||
| Q3 24 | $66.6M | $-2.1M | ||
| Q2 24 | $72.2M | $-1.1M | ||
| Q1 24 | $58.1M | $-22.0M |
毛利率MSAVNET
| Q4 25 | 46.9% | — | ||
| Q3 25 | 46.5% | 20.9% | ||
| Q2 25 | 46.6% | — | ||
| Q1 25 | 45.9% | 25.2% | ||
| Q4 24 | 46.9% | — | ||
| Q3 24 | 47.9% | 23.2% | ||
| Q2 24 | 48.2% | 21.3% | ||
| Q1 24 | 47.3% | 21.6% |
营业利润率MSAVNET
| Q4 25 | 22.3% | — | ||
| Q3 25 | 20.1% | 0.5% | ||
| Q2 25 | 18.1% | — | ||
| Q1 25 | 18.5% | 0.1% | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 21.1% | 24.5% | ||
| Q2 24 | 21.6% | 0.2% | ||
| Q1 24 | 19.4% | 0.2% |
净利率MSAVNET
| Q4 25 | 17.0% | — | ||
| Q3 25 | 14.9% | -10.7% | ||
| Q2 25 | 13.2% | — | ||
| Q1 25 | 14.1% | -0.8% | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 15.4% | -0.7% | ||
| Q2 24 | 15.6% | -0.4% | ||
| Q1 24 | 14.1% | -8.4% |
每股收益（稀释后）MSAVNET
| Q4 25 | $2.22 | — | ||
| Q3 25 | $1.77 | — | ||
| Q2 25 | $1.59 | — | ||
| Q1 25 | $1.51 | — | ||
| Q4 24 | $2.22 | — | ||
| Q3 24 | $1.69 | — | ||
| Q2 24 | $1.83 | — | ||
| Q1 24 | $1.47 | — |
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 | $165.1M | $492.1M |
| 总债务越低越好 | $580.9M | — |
| 股东权益账面价值 | $1.4B | $890.8M |
| 总资产 | $2.6B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.42× | — |
8季度趋势，按日历期对齐
现金及短期投资MSAVNET
| Q4 25 | $165.1M | — | ||
| Q3 25 | $170.0M | $492.1M | ||
| Q2 25 | $147.0M | — | ||
| Q1 25 | $170.6M | $544.3M | ||
| Q4 24 | $164.6M | — | ||
| Q3 24 | $154.4M | $219.5M | ||
| Q2 24 | $146.8M | $247.2M | ||
| Q1 24 | $148.3M | $246.9M |
总债务MSAVNET
| Q4 25 | $580.9M | — | ||
| Q3 25 | $628.6M | — | ||
| Q2 25 | $679.3M | — | ||
| Q1 25 | $502.1M | — | ||
| Q4 24 | $508.0M | — | ||
| Q3 24 | $554.7M | $1.2B | ||
| Q2 24 | $588.2M | — | ||
| Q1 24 | $596.2M | — |
股东权益MSAVNET
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | $890.8M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | $927.8M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $902.9M | ||
| Q2 24 | $1.0B | $900.6M | ||
| Q1 24 | $994.8M | $895.1M |
总资产MSAVNET
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.6B | $6.1B | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.2B | $5.4B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | $4.3B | ||
| Q2 24 | $2.2B | $4.0B | ||
| Q1 24 | $2.2B | $3.9B |
负债/权益比MSAVNET
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.44× | — | ||
| Q3 24 | 0.51× | 1.28× | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.60× | — |
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 | $122.4M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $106.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 20.8% | -53.2% |
| 资本支出强度资本支出/营收 | 3.2% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.41× | — |
| 过去12个月自由现金流最近4个季度 | $295.4M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流MSAVNET
| Q4 25 | $122.4M | — | ||
| Q3 25 | $112.5M | $113.8M | ||
| Q2 25 | $67.2M | — | ||
| Q1 25 | $61.8M | $27.0M | ||
| Q4 24 | $107.9M | — | ||
| Q3 24 | $84.3M | $108.3M | ||
| Q2 24 | $53.3M | $55.8M | ||
| Q1 24 | $50.9M | $37.1M |
自由现金流MSAVNET
| Q4 25 | $106.0M | — | ||
| Q3 25 | $100.5M | $-193.1M | ||
| Q2 25 | $37.9M | — | ||
| Q1 25 | $51.0M | $-220.0M | ||
| Q4 24 | $93.5M | — | ||
| Q3 24 | $70.1M | $-95.0M | ||
| Q2 24 | $39.0M | $-81.6M | ||
| Q1 24 | $39.7M | $-102.2M |
自由现金流率MSAVNET
| Q4 25 | 20.8% | — | ||
| Q3 25 | 21.4% | -53.2% | ||
| Q2 25 | 8.0% | — | ||
| Q1 25 | 12.1% | -71.1% | ||
| Q4 24 | 18.7% | — | ||
| Q3 24 | 16.2% | -31.4% | ||
| Q2 24 | 8.4% | -29.8% | ||
| Q1 24 | 9.6% | -38.9% |
资本支出强度MSAVNET
| Q4 25 | 3.2% | — | ||
| Q3 25 | 2.6% | 84.6% | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 2.6% | 79.8% | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 3.3% | 67.3% | ||
| Q2 24 | 3.1% | 50.1% | ||
| Q1 24 | 2.7% | 53.0% |
现金转化率MSAVNET
| Q4 25 | 1.41× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.07× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 0.74× | — | ||
| Q1 24 | 0.88× | — |
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
MSA
| Americas Segment | $335.2M | 66% |
| International Segment | $175.7M | 34% |
VNET
暂无分部数据
