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ORMAT TECHNOLOGIES, INC.（ORA）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ORMAT TECHNOLOGIES, INC.的1.3倍（$362.7M vs $276.0M），ORMAT TECHNOLOGIES, INC.净利率更高（11.4% vs -10.7%，领先22.0%），ORMAT TECHNOLOGIES, INC.自由现金流更多（$-40.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 11.0%）
Ormat Technologies是总部位于美国内华达州里诺的跨国企业，主打可再生地热能源技术，累计建成超190座电站，总装机容量超3200兆瓦；截至2021年1月自主运营933兆瓦地热及余热回收电站，还向全球多国供应超千台涡轮增压器。
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。
ORA vs VNET — 直观对比
营收规模更大
VNET
是对方的1.3倍
$276.0M
净利率更高
ORA
高出22.0%
-10.7%
自由现金流更多
ORA
多$153.0M
$-193.1M
两年增速更快
VNET
近两年复合增速
11.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $276.0M | $362.7M |
| 净利润 | $31.4M | $-38.7M |
| 毛利率 | 28.6% | 20.9% |
| 营业利润率 | 15.4% | 0.5% |
| 净利率 | 11.4% | -10.7% |
| 营收同比 | 19.6% | — |
| 净利润同比 | -23.2% | — |
| 每股收益（稀释后） | $0.51 | — |
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ORAVNET
| Q4 25 | $276.0M | — | ||
| Q3 25 | $249.7M | $362.7M | ||
| Q2 25 | $234.0M | — | ||
| Q1 25 | $229.8M | $309.5M | ||
| Q4 24 | $230.7M | — | ||
| Q3 24 | $211.8M | $302.2M | ||
| Q2 24 | $213.0M | $274.4M | ||
| Q1 24 | $224.2M | $262.9M |
净利润ORAVNET
| Q4 25 | $31.4M | — | ||
| Q3 25 | $24.1M | $-38.7M | ||
| Q2 25 | $28.0M | — | ||
| Q1 25 | $40.4M | $-2.4M | ||
| Q4 24 | $40.8M | — | ||
| Q3 24 | $22.1M | $-2.1M | ||
| Q2 24 | $22.2M | $-1.1M | ||
| Q1 24 | $38.6M | $-22.0M |
毛利率ORAVNET
| Q4 25 | 28.6% | — | ||
| Q3 25 | 25.6% | 20.9% | ||
| Q2 25 | 24.3% | — | ||
| Q1 25 | 31.7% | 25.2% | ||
| Q4 24 | 31.9% | — | ||
| Q3 24 | 27.8% | 23.2% | ||
| Q2 24 | 28.8% | 21.3% | ||
| Q1 24 | 35.2% | 21.6% |
营业利润率ORAVNET
| Q4 25 | 15.4% | — | ||
| Q3 25 | 16.2% | 0.5% | ||
| Q2 25 | 15.1% | — | ||
| Q1 25 | 22.2% | 0.1% | ||
| Q4 24 | 21.3% | — | ||
| Q3 24 | 16.8% | 24.5% | ||
| Q2 24 | 16.5% | 0.2% | ||
| Q1 24 | 23.5% | 0.2% |
净利率ORAVNET
| Q4 25 | 11.4% | — | ||
| Q3 25 | 9.7% | -10.7% | ||
| Q2 25 | 12.0% | — | ||
| Q1 25 | 17.6% | -0.8% | ||
| Q4 24 | 17.7% | — | ||
| Q3 24 | 10.4% | -0.7% | ||
| Q2 24 | 10.4% | -0.4% | ||
| Q1 24 | 17.2% | -8.4% |
每股收益（稀释后）ORAVNET
| Q4 25 | $0.51 | — | ||
| Q3 25 | $0.39 | — | ||
| Q2 25 | $0.46 | — | ||
| Q1 25 | $0.66 | — | ||
| Q4 24 | $0.67 | — | ||
| Q3 24 | $0.36 | — | ||
| Q2 24 | $0.37 | — | ||
| Q1 24 | $0.64 | — |
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 | $147.4M | $492.1M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $2.5B | $890.8M |
| 总资产 | $6.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 1.05× | — |
8季度趋势，按日历期对齐
现金及短期投资ORAVNET
| Q4 25 | $147.4M | — | ||
| Q3 25 | $79.6M | $492.1M | ||
| Q2 25 | $88.5M | — | ||
| Q1 25 | $112.7M | $544.3M | ||
| Q4 24 | $94.4M | — | ||
| Q3 24 | $88.1M | $219.5M | ||
| Q2 24 | $66.3M | $247.2M | ||
| Q1 24 | $201.5M | $246.9M |
总债务ORAVNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ORAVNET
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | $890.8M | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.5B | $927.8M | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | $902.9M | ||
| Q2 24 | $2.4B | $900.6M | ||
| Q1 24 | $2.4B | $895.1M |
总资产ORAVNET
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.1B | $6.1B | ||
| Q2 25 | $6.0B | — | ||
| Q1 25 | $5.8B | $5.4B | ||
| Q4 24 | $5.7B | — | ||
| Q3 24 | $5.6B | $4.3B | ||
| Q2 24 | $5.5B | $4.0B | ||
| Q1 24 | $5.5B | $3.9B |
负债/权益比ORAVNET
| Q4 25 | 1.05× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.97× | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 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 | $105.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-40.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | -14.5% | -53.2% |
| 资本支出强度资本支出/营收 | 52.6% | 84.6% |
| 现金转化率经营现金流/净利润 | 3.35× | — |
| 过去12个月自由现金流最近4个季度 | $-284.7M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流ORAVNET
| Q4 25 | $105.0M | — | ||
| Q3 25 | $45.2M | $113.8M | ||
| Q2 25 | $96.9M | — | ||
| Q1 25 | $88.0M | $27.0M | ||
| Q4 24 | $158.6M | — | ||
| Q3 24 | $106.4M | $108.3M | ||
| Q2 24 | $30.7M | $55.8M | ||
| Q1 24 | $115.2M | $37.1M |
自由现金流ORAVNET
| Q4 25 | $-40.0M | — | ||
| Q3 25 | $-102.1M | $-193.1M | ||
| Q2 25 | $-37.9M | — | ||
| Q1 25 | $-104.6M | $-220.0M | ||
| Q4 24 | $30.9M | — | ||
| Q3 24 | $-3.3M | $-95.0M | ||
| Q2 24 | $-116.1M | $-81.6M | ||
| Q1 24 | $11.8M | $-102.2M |
自由现金流率ORAVNET
| Q4 25 | -14.5% | — | ||
| Q3 25 | -40.9% | -53.2% | ||
| Q2 25 | -16.2% | — | ||
| Q1 25 | -45.5% | -71.1% | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | -1.6% | -31.4% | ||
| Q2 24 | -54.5% | -29.8% | ||
| Q1 24 | 5.3% | -38.9% |
资本支出强度ORAVNET
| Q4 25 | 52.6% | — | ||
| Q3 25 | 59.0% | 84.6% | ||
| Q2 25 | 57.6% | — | ||
| Q1 25 | 83.8% | 79.8% | ||
| Q4 24 | 55.4% | — | ||
| Q3 24 | 51.8% | 67.3% | ||
| Q2 24 | 69.0% | 50.1% | ||
| Q1 24 | 46.1% | 53.0% |
现金转化率ORAVNET
| Q4 25 | 3.35× | — | ||
| Q3 25 | 1.87× | — | ||
| Q2 25 | 3.45× | — | ||
| Q1 25 | 2.18× | — | ||
| Q4 24 | 3.89× | — | ||
| Q3 24 | 4.82× | — | ||
| Q2 24 | 1.38× | — | ||
| Q1 24 | 2.99× | — |
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
ORA
| Electricity | $186.6M | 68% |
| Products | $63.1M | 23% |
| Energy Storage Segment | $26.3M | 10% |
| Product Segment | $1.2M | 0% |
VNET
暂无分部数据
