vs
蔚来（NIO）与泰佩思琦（TPR）财务数据对比。点击上方公司名可切换其他公司
蔚来的季度营收约是泰佩思琦的2.5倍（$4.7B vs $1.9B），泰佩思琦净利率更高（17.9% vs 0.8%，领先17.1%）
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
Tapestry, Inc.是美国知名跨国奢侈品时尚控股企业，旗下拥有Coach、Kate Spade New York、Stuart Weitzman三大标志性生活方式品牌，主营高端手袋、服饰、鞋履、配饰及香水产品，销售渠道覆盖全球线下门店与线上电商平台。
NIO vs TPR — 直观对比
营收规模更大
NIO
是对方的2.5倍
$1.9B
净利率更高
TPR
高出17.1%
0.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $1.9B |
| 净利润 | $38.7M | $343.8M |
| 毛利率 | 17.5% | 76.9% |
| 营业利润率 | 1.5% | 22.3% |
| 净利率 | 0.8% | 17.9% |
| 营收同比 | — | 21.0% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.05 | $1.65 |
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NIOTPR
| Q1 26 | $4.7B | $1.9B | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | $3.0B | $1.7B | ||
| Q2 25 | $2.6B | $1.7B | ||
| Q1 25 | $2.7B | $1.6B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B |
净利润NIOTPR
| Q1 26 | $38.7M | $343.8M | ||
| Q4 25 | — | $561.3M | ||
| Q3 25 | $-505.2M | $274.8M | ||
| Q2 25 | $-709.5M | $-517.1M | ||
| Q1 25 | $-984.2M | $203.3M | ||
| Q4 24 | — | $310.4M | ||
| Q3 24 | — | $186.6M | ||
| Q2 24 | — | $159.3M |
毛利率NIOTPR
| Q1 26 | 17.5% | 76.9% | ||
| Q4 25 | — | 75.5% | ||
| Q3 25 | 13.9% | 76.3% | ||
| Q2 25 | 10.0% | 76.3% | ||
| Q1 25 | 11.7% | 76.1% | ||
| Q4 24 | — | 74.4% | ||
| Q3 24 | — | 75.3% | ||
| Q2 24 | — | 74.9% |
营业利润率NIOTPR
| Q1 26 | 1.5% | 22.3% | ||
| Q4 25 | — | 28.6% | ||
| Q3 25 | -16.2% | 19.3% | ||
| Q2 25 | -25.8% | -33.9% | ||
| Q1 25 | -30.6% | 16.0% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | — | 16.7% | ||
| Q2 24 | — | 14.8% |
净利率NIOTPR
| Q1 26 | 0.8% | 17.9% | ||
| Q4 25 | — | 22.4% | ||
| Q3 25 | -16.8% | 16.1% | ||
| Q2 25 | -27.0% | -30.0% | ||
| Q1 25 | -36.2% | 12.8% | ||
| Q4 24 | — | 14.1% | ||
| Q3 24 | — | 12.4% | ||
| Q2 24 | — | 10.0% |
每股收益（稀释后）NIOTPR
| Q1 26 | $0.05 | $1.65 | ||
| Q4 25 | — | $2.68 | ||
| Q3 25 | $-1.51 | $1.28 | ||
| Q2 25 | $-2.31 | $-2.30 | ||
| Q1 25 | $-3.47 | $0.95 | ||
| Q4 24 | — | $1.38 | ||
| Q3 24 | — | $0.79 | ||
| Q2 24 | — | $0.67 |
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 | $4.4B | $1.1B |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $594.8M | $682.4M |
| 总资产 | $17.8B | $6.5B |
| 负债/权益比越低杠杆越低 | — | 3.48× |
8季度趋势，按日历期对齐
现金及短期投资NIOTPR
| Q1 26 | $4.4B | $1.1B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $743.2M | ||
| Q2 25 | $2.5B | $1.1B | ||
| Q1 25 | $4.6B | $1.1B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $7.3B | ||
| Q2 24 | — | $7.2B |
总债务NIOTPR
| Q1 26 | — | $2.4B | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.9B |
股东权益NIOTPR
| Q1 26 | $594.8M | $682.4M | ||
| Q4 25 | — | $551.2M | ||
| Q3 25 | — | $399.5M | ||
| Q2 25 | $-168.3M | $857.8M | ||
| Q1 25 | $817.5M | $1.5B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $2.9B |
总资产NIOTPR
| Q1 26 | $17.8B | $6.5B | ||
| Q4 25 | — | $6.5B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | $14.0B | $6.6B | ||
| Q1 25 | $14.7B | $7.3B | ||
| Q4 24 | — | $7.3B | ||
| Q3 24 | — | $13.7B | ||
| Q2 24 | — | $13.4B |
负债/权益比NIOTPR
| Q1 26 | — | 3.48× | ||
| Q4 25 | — | 4.32× | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | — | 2.77× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× |
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 | $427.9M | — |
| 自由现金流经营现金流 - 资本支出 | $-439.4M | — |
| 自由现金流率自由现金流/营收 | -9.3% | — |
| 资本支出强度资本支出/营收 | 18.4% | — |
| 现金转化率经营现金流/净利润 | 11.07× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流NIOTPR
| Q1 26 | $427.9M | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $112.6M | ||
| Q2 25 | — | $446.8M | ||
| Q1 25 | $-1.1B | $144.3M | ||
| Q4 24 | — | $506.0M | ||
| Q3 24 | — | $119.5M | ||
| Q2 24 | — | $256.0M |
自由现金流NIOTPR
| Q1 26 | $-439.4M | — | ||
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $80.2M | ||
| Q2 25 | — | $411.5M | ||
| Q1 25 | $-2.3B | $113.4M | ||
| Q4 24 | — | $475.1M | ||
| Q3 24 | — | $93.9M | ||
| Q2 24 | — | $209.8M |
自由现金流率NIOTPR
| Q1 26 | -9.3% | — | ||
| Q4 25 | — | 41.5% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | -85.6% | 7.2% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 13.2% |
资本支出强度NIOTPR
| Q1 26 | 18.4% | — | ||
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | 46.1% | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.9% |
现金转化率NIOTPR
| Q1 26 | 11.07× | — | ||
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 1.61× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
