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NetApp（NTAP）与V2X, Inc.（VVX）财务数据对比。点击上方公司名可切换其他公司
NetApp的季度营收约是V2X, Inc.的1.4倍（$1.7B vs $1.2B），NetApp净利率更高（17.9% vs 1.9%，领先16.0%），V2X, Inc.同比增速更快（5.3% vs 2.8%），V2X, Inc.自由现金流更多（$207.2M vs $78.0M），过去两年V2X, Inc.的营收复合增速更高（9.8% vs 3.0%）
NetApp是总部位于美国加利福尼亚州圣何塞的企业级数据基础设施服务商，成立于1992年，2012至2021年连续入选《财富》世界500强。公司面向全球企业客户提供统一数据存储、集成数据服务及云运营解决方案，可满足线上线下全场景的应用与数据管理需求。
V2X公司是总部位于美国的技术工程服务供应商，主要服务美国国防部等联邦政府客户，提供任务支持、关键基础设施运维、国家安全相关解决方案，业务覆盖国防、公共安全、运营韧性等核心领域。
NTAP vs VVX — 直观对比
营收规模更大
NTAP
是对方的1.4倍
$1.2B
营收增速更快
VVX
高出2.4%
2.8%
净利率更高
NTAP
高出16.0%
1.9%
自由现金流更多
VVX
多$129.2M
$78.0M
两年增速更快
VVX
近两年复合增速
3.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $305.0M | $22.8M |
| 毛利率 | 72.0% | 8.6% |
| 营业利润率 | 23.4% | 4.2% |
| 净利率 | 17.9% | 1.9% |
| 营收同比 | 2.8% | 5.3% |
| 净利润同比 | 2.0% | -9.0% |
| 每股收益（稀释后） | $1.51 | $0.73 |
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NTAPVVX
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.6B | $1.0B | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.6B | $1.0B |
净利润NTAPVVX
| Q4 25 | $305.0M | $22.8M | ||
| Q3 25 | $233.0M | $24.6M | ||
| Q2 25 | $340.0M | $22.4M | ||
| Q1 25 | $299.0M | $8.1M | ||
| Q4 24 | $299.0M | $25.0M | ||
| Q3 24 | $248.0M | $15.1M | ||
| Q2 24 | $291.0M | $-6.5M | ||
| Q1 24 | $313.0M | $1.1M |
毛利率NTAPVVX
| Q4 25 | 72.0% | 8.6% | ||
| Q3 25 | 70.4% | 8.1% | ||
| Q2 25 | 68.9% | 8.9% | ||
| Q1 25 | 69.8% | 7.7% | ||
| Q4 24 | 71.0% | 9.3% | ||
| Q3 24 | 71.3% | 8.5% | ||
| Q2 24 | 70.5% | 6.9% | ||
| Q1 24 | 71.7% | 7.0% |
营业利润率NTAPVVX
| Q4 25 | 23.4% | 4.2% | ||
| Q3 25 | 19.8% | 4.8% | ||
| Q2 25 | 20.1% | 4.9% | ||
| Q1 25 | 22.1% | 3.4% | ||
| Q4 24 | 20.8% | 4.5% | ||
| Q3 24 | 18.3% | 4.6% | ||
| Q2 24 | 21.9% | 2.6% | ||
| Q1 24 | 22.8% | 3.0% |
净利率NTAPVVX
| Q4 25 | 17.9% | 1.9% | ||
| Q3 25 | 14.9% | 2.1% | ||
| Q2 25 | 19.6% | 2.1% | ||
| Q1 25 | 18.2% | 0.8% | ||
| Q4 24 | 18.0% | 2.2% | ||
| Q3 24 | 16.1% | 1.4% | ||
| Q2 24 | 17.4% | -0.6% | ||
| Q1 24 | 19.5% | 0.1% |
每股收益（稀释后）NTAPVVX
| Q4 25 | $1.51 | $0.73 | ||
| Q3 25 | $1.15 | $0.77 | ||
| Q2 25 | $1.64 | $0.70 | ||
| Q1 25 | $1.44 | $0.25 | ||
| Q4 24 | $1.42 | $0.78 | ||
| Q3 24 | $1.17 | $0.47 | ||
| Q2 24 | $1.36 | $-0.21 | ||
| Q1 24 | $1.48 | $0.04 |
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 | $3.0B | — |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $986.0M | $1.1B |
| 总资产 | $9.6B | $3.3B |
| 负债/权益比越低杠杆越低 | 2.52× | — |
8季度趋势，按日历期对齐
现金及短期投资NTAPVVX
| Q4 25 | $3.0B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | $2.9B | — |
总债务NTAPVVX
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
股东权益NTAPVVX
| Q4 25 | $986.0M | $1.1B | ||
| Q3 25 | $975.0M | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $995.0M | $1.0B | ||
| Q4 24 | $892.0M | $1.0B | ||
| Q3 24 | $929.0M | $1.0B | ||
| Q2 24 | $1.1B | $992.0M | ||
| Q1 24 | $994.0M | $993.7M |
总资产NTAPVVX
| Q4 25 | $9.6B | $3.3B | ||
| Q3 25 | $9.7B | $3.2B | ||
| Q2 25 | $10.8B | $3.1B | ||
| Q1 25 | $9.0B | $3.1B | ||
| Q4 24 | $9.0B | $3.2B | ||
| Q3 24 | $9.3B | $3.1B | ||
| Q2 24 | $9.9B | $3.2B | ||
| Q1 24 | $9.4B | $3.1B |
负债/权益比NTAPVVX
| Q4 25 | 2.52× | — | ||
| Q3 25 | 2.55× | — | ||
| Q2 25 | 3.11× | — | ||
| Q1 25 | 2.00× | — | ||
| Q4 24 | 2.23× | — | ||
| Q3 24 | 2.58× | — | ||
| Q2 24 | 2.09× | — | ||
| Q1 24 | 2.41× | — |
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 | $127.0M | $209.5M |
| 自由现金流经营现金流 - 资本支出 | $78.0M | $207.2M |
| 自由现金流率自由现金流/营收 | 4.6% | 17.0% |
| 资本支出强度资本支出/营收 | 2.9% | 0.2% |
| 现金转化率经营现金流/净利润 | 0.42× | 9.20× |
| 过去12个月自由现金流最近4个季度 | — | $170.1M |
8季度趋势，按日历期对齐
经营现金流NTAPVVX
| Q4 25 | $127.0M | $209.5M | ||
| Q3 25 | $673.0M | $39.4M | ||
| Q2 25 | — | $28.5M | ||
| Q1 25 | $385.0M | $-95.5M | ||
| Q4 24 | — | $223.1M | ||
| Q3 24 | $341.0M | $62.7M | ||
| Q2 24 | $613.0M | $25.7M | ||
| Q1 24 | $484.0M | $-57.2M |
自由现金流NTAPVVX
| Q4 25 | $78.0M | $207.2M | ||
| Q3 25 | $620.0M | $35.0M | ||
| Q2 25 | — | $26.1M | ||
| Q1 25 | $338.0M | $-98.2M | ||
| Q4 24 | — | $222.0M | ||
| Q3 24 | $300.0M | $60.5M | ||
| Q2 24 | $567.0M | $24.9M | ||
| Q1 24 | $448.0M | $-65.0M |
自由现金流率NTAPVVX
| Q4 25 | 4.6% | 17.0% | ||
| Q3 25 | 39.8% | 3.0% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | 20.6% | -9.7% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | 19.5% | 5.6% | ||
| Q2 24 | 34.0% | 2.3% | ||
| Q1 24 | 27.9% | -6.4% |
资本支出强度NTAPVVX
| Q4 25 | 2.9% | 0.2% | ||
| Q3 25 | 3.4% | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | 2.9% | 0.3% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 2.7% | 0.2% | ||
| Q2 24 | 2.8% | 0.1% | ||
| Q1 24 | 2.2% | 0.8% |
现金转化率NTAPVVX
| Q4 25 | 0.42× | 9.20× | ||
| Q3 25 | 2.89× | 1.60× | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | 1.29× | -11.78× | ||
| Q4 24 | — | 8.91× | ||
| Q3 24 | 1.38× | 4.16× | ||
| Q2 24 | 2.11× | — | ||
| Q1 24 | 1.55× | -50.02× |
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
NTAP
| Products | $788.0M | 46% |
| Support | $647.0M | 38% |
| Public Cloud Segment | $171.0M | 10% |
| Professional And Other Services | $99.0M | 6% |
VVX
| Army | $480.4M | 39% |
| Navy | $388.9M | 32% |
| Air Force | $196.1M | 16% |
| Other Customers | $153.3M | 13% |
