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MGIC INVESTMENT CORP（MTG）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MGIC INVESTMENT CORP的1.2倍（$362.7M vs $297.1M），MGIC INVESTMENT CORP净利率更高（55.6% vs -10.7%，领先66.3%），过去两年世纪互联的营收复合增速更高（17.4% vs -1.4%）
MGIC投资集团（纽交所代码：MTG）是美国专业的私人抵押贷款保险服务商，总部位于威斯康星州密尔沃基市，主要为美国本土住房抵押贷款业务提供保险解决方案，帮助贷款机构管控信用风险，助力普通消费者顺利获得购房贷款支持。
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。
MTG vs VNET — 直观对比
营收规模更大
VNET
是对方的1.2倍
$297.1M
净利率更高
MTG
高出66.3%
-10.7%
两年增速更快
VNET
近两年复合增速
-1.4%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $297.1M | $362.7M |
| 净利润 | $165.3M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | — | 0.5% |
| 净利率 | 55.6% | -10.7% |
| 营收同比 | -3.0% | — |
| 净利润同比 | -10.9% | — |
| 每股收益（稀释后） | $0.76 | — |
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MTGVNET
| Q1 26 | $297.1M | — | ||
| Q4 25 | $298.7M | — | ||
| Q3 25 | $304.5M | $362.7M | ||
| Q2 25 | $304.2M | — | ||
| Q1 25 | $306.2M | $309.5M | ||
| Q4 24 | $301.4M | — | ||
| Q3 24 | $306.6M | $302.2M | ||
| Q2 24 | $305.3M | $274.4M |
净利润MTGVNET
| Q1 26 | $165.3M | — | ||
| Q4 25 | $169.3M | — | ||
| Q3 25 | $191.1M | $-38.7M | ||
| Q2 25 | $192.5M | — | ||
| Q1 25 | $185.5M | $-2.4M | ||
| Q4 24 | $184.7M | — | ||
| Q3 24 | $200.0M | $-2.1M | ||
| Q2 24 | $204.2M | $-1.1M |
毛利率MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | 71.2% | — | ||
| Q3 25 | 77.2% | 0.5% | ||
| Q2 25 | 80.9% | — | ||
| Q1 25 | 76.6% | 0.1% | ||
| Q4 24 | 77.9% | — | ||
| Q3 24 | 82.9% | 24.5% | ||
| Q2 24 | 85.1% | 0.2% |
净利率MTGVNET
| Q1 26 | 55.6% | — | ||
| Q4 25 | 56.7% | — | ||
| Q3 25 | 62.8% | -10.7% | ||
| Q2 25 | 63.3% | — | ||
| Q1 25 | 60.6% | -0.8% | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.2% | -0.7% | ||
| Q2 24 | 66.9% | -0.4% |
每股收益（稀释后）MTGVNET
| Q1 26 | $0.76 | — | ||
| Q4 25 | $0.75 | — | ||
| Q3 25 | $0.83 | — | ||
| Q2 25 | $0.81 | — | ||
| Q1 25 | $0.75 | — | ||
| Q4 24 | $0.71 | — | ||
| Q3 24 | $0.77 | — | ||
| Q2 24 | $0.77 | — |
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 | $235.1M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.0B | $890.8M |
| 总资产 | $6.4B | $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MTGVNET
| Q1 26 | $235.1M | — | ||
| Q4 25 | $369.0M | — | ||
| Q3 25 | $266.9M | $492.1M | ||
| Q2 25 | $294.9M | — | ||
| Q1 25 | $207.0M | $544.3M | ||
| Q4 24 | $229.5M | — | ||
| Q3 24 | $288.6M | $219.5M | ||
| Q2 24 | $281.8M | $247.2M |
总债务MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益MTGVNET
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.2B | $890.8M | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $5.1B | $927.8M | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $5.3B | $902.9M | ||
| Q2 24 | $5.1B | $900.6M |
总资产MTGVNET
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.6B | — | ||
| Q3 25 | $6.6B | $6.1B | ||
| Q2 25 | $6.5B | — | ||
| Q1 25 | $6.5B | $5.4B | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $6.7B | $4.3B | ||
| Q2 24 | $6.5B | $4.0B |
负债/权益比MTGVNET
| 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 | — | $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 | — | — |
| 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MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | $230.8M | — | ||
| Q3 25 | $215.4M | $113.8M | ||
| Q2 25 | $183.0M | — | ||
| Q1 25 | $223.7M | $27.0M | ||
| Q4 24 | $182.4M | — | ||
| Q3 24 | $182.9M | $108.3M | ||
| Q2 24 | $169.2M | $55.8M |
自由现金流MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | $230.2M | — | ||
| Q3 25 | $215.1M | $-193.1M | ||
| Q2 25 | $183.0M | — | ||
| Q1 25 | $223.5M | $-220.0M | ||
| Q4 24 | $181.9M | — | ||
| Q3 24 | $182.5M | $-95.0M | ||
| Q2 24 | $169.0M | $-81.6M |
自由现金流率MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | 77.1% | — | ||
| Q3 25 | 70.6% | -53.2% | ||
| Q2 25 | 60.1% | — | ||
| Q1 25 | 73.0% | -71.1% | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 59.5% | -31.4% | ||
| Q2 24 | 55.3% | -29.8% |
资本支出强度MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.1% | 84.6% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | 79.8% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | 67.3% | ||
| Q2 24 | 0.1% | 50.1% |
现金转化率MTGVNET
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | 1.21× | — | ||
| Q4 24 | 0.99× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.83× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
