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北极星（PII）与维谛技术（VRT）财务数据对比。点击上方公司名可切换其他公司
维谛技术的季度营收约是北极星的1.6倍（$2.6B vs $1.7B），维谛技术净利率更高（14.7% vs -2.8%，领先17.6%），维谛技术同比增速更快（30.1% vs 8.0%），维谛技术自由现金流更多（$652.8M vs $-342.5M），过去两年维谛技术的营收复合增速更高（16.5% vs -8.0%）
北极星公司（Polaris Inc.）是总部位于美国明尼苏达州麦地那的机动车制造企业，创立于明尼苏达州罗索，当地目前仍保留其工程研发与生产设施。公司曾通过胜利摩托子公司生产摩托车，2011年收购印第安摩托品牌后转由该子公司运营摩托业务，此前还曾生产私人水上摩托艇产品。
维谛技术（Vertiv）是一家美国跨国企业，专注于为数据中心、通信网络、商业及工业场景提供关键基础设施及配套服务，旗下方案可有效保障各行业客户关键业务系统的稳定高效运行。
PII vs VRT — 直观对比
营收规模更大
VRT
是对方的1.6倍
$1.7B
营收增速更快
VRT
高出22.1%
8.0%
净利率更高
VRT
高出17.6%
-2.8%
自由现金流更多
VRT
多$995.3M
$-342.5M
两年增速更快
VRT
近两年复合增速
-8.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $2.6B |
| 净利润 | $-47.2M | $390.1M |
| 毛利率 | 20.2% | 37.7% |
| 营业利润率 | 76.5% | — |
| 净利率 | -2.8% | 14.7% |
| 营收同比 | 8.0% | 30.1% |
| 净利润同比 | 29.0% | — |
| 每股收益（稀释后） | $-0.83 | $0.99 |
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PIIVRT
| Q1 26 | $1.7B | $2.6B | ||
| Q4 25 | $1.9B | $2.9B | ||
| Q3 25 | $1.8B | $2.7B | ||
| Q2 25 | $1.9B | $2.6B | ||
| Q1 25 | $1.5B | $2.0B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.7B | $2.1B | ||
| Q2 24 | $2.0B | $2.0B |
净利润PIIVRT
| Q1 26 | $-47.2M | $390.1M | ||
| Q4 25 | $-303.6M | $445.6M | ||
| Q3 25 | $-15.8M | $398.5M | ||
| Q2 25 | $-79.3M | $324.2M | ||
| Q1 25 | $-66.8M | $164.5M | ||
| Q4 24 | $10.6M | $147.0M | ||
| Q3 24 | $27.7M | $176.6M | ||
| Q2 24 | $68.7M | $178.1M |
毛利率PIIVRT
| Q1 26 | 20.2% | 37.7% | ||
| Q4 25 | 20.0% | 38.9% | ||
| Q3 25 | 20.7% | 37.8% | ||
| Q2 25 | 19.4% | 34.0% | ||
| Q1 25 | 16.0% | 33.7% | ||
| Q4 24 | 20.4% | 37.1% | ||
| Q3 24 | 20.6% | 36.5% | ||
| Q2 24 | 21.6% | 38.0% |
营业利润率PIIVRT
| Q1 26 | 76.5% | — | ||
| Q4 25 | -16.7% | 20.1% | ||
| Q3 25 | 1.1% | 19.3% | ||
| Q2 25 | -0.7% | 16.8% | ||
| Q1 25 | -2.4% | 14.3% | ||
| Q4 24 | 3.7% | 19.5% | ||
| Q3 24 | 3.8% | 17.9% | ||
| Q2 24 | 6.1% | 17.2% |
净利率PIIVRT
| Q1 26 | -2.8% | 14.7% | ||
| Q4 25 | -15.8% | 15.5% | ||
| Q3 25 | -0.9% | 14.9% | ||
| Q2 25 | -4.3% | 12.3% | ||
| Q1 25 | -4.3% | 8.1% | ||
| Q4 24 | 0.6% | 6.3% | ||
| Q3 24 | 1.6% | 8.5% | ||
| Q2 24 | 3.5% | 9.1% |
每股收益（稀释后）PIIVRT
| Q1 26 | $-0.83 | $0.99 | ||
| Q4 25 | $-5.34 | $1.14 | ||
| Q3 25 | $-0.28 | $1.02 | ||
| Q2 25 | $-1.39 | $0.83 | ||
| Q1 25 | $-1.17 | $0.42 | ||
| Q4 24 | $0.18 | $0.38 | ||
| Q3 24 | $0.49 | $0.46 | ||
| Q2 24 | $1.21 | $0.46 |
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 | $282.0M | $2.5B |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $750.4M | $4.2B |
| 总资产 | $5.2B | $13.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资PIIVRT
| Q1 26 | $282.0M | $2.5B | ||
| Q4 25 | $138.0M | $1.7B | ||
| Q3 25 | $335.5M | $1.4B | ||
| Q2 25 | $324.3M | $1.6B | ||
| Q1 25 | $291.7M | $1.5B | ||
| Q4 24 | $287.8M | $1.2B | ||
| Q3 24 | $291.3M | $908.7M | ||
| Q2 24 | $322.7M | $579.7M |
总债务PIIVRT
| Q1 26 | — | $0 | ||
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.3B | $2.9B | ||
| Q2 25 | $1.4B | $2.9B | ||
| Q1 25 | $1.6B | $2.9B | ||
| Q4 24 | $1.6B | $2.9B | ||
| Q3 24 | $1.7B | $2.9B | ||
| Q2 24 | $2.1B | $2.9B |
股东权益PIIVRT
| Q1 26 | $750.4M | $4.2B | ||
| Q4 25 | $828.4M | $3.9B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $1.2B | $3.1B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.3B | $1.5B |
总资产PIIVRT
| Q1 26 | $5.2B | $13.4B | ||
| Q4 25 | $4.9B | $12.2B | ||
| Q3 25 | $5.3B | $10.8B | ||
| Q2 25 | $5.4B | $10.4B | ||
| Q1 25 | $5.5B | $9.5B | ||
| Q4 24 | $5.5B | $9.1B | ||
| Q3 24 | $5.6B | $8.9B | ||
| Q2 24 | $5.7B | $8.1B |
负债/权益比PIIVRT
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.82× | 0.74× | ||
| Q3 25 | 1.13× | 0.83× | ||
| Q2 25 | 1.17× | 0.93× | ||
| Q1 25 | 1.32× | 1.10× | ||
| Q4 24 | 1.27× | 1.20× | ||
| Q3 24 | 1.29× | 1.62× | ||
| Q2 24 | 1.56× | 1.91× |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $-342.5M | $652.8M |
| 自由现金流率自由现金流/营收 | -20.6% | 24.6% |
| 资本支出强度资本支出/营收 | — | 4.2% |
| 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 | $168.0M | $2.3B |
8季度趋势，按日历期对齐
经营现金流PIIVRT
| Q1 26 | — | — | ||
| Q4 25 | $178.7M | $978.9M | ||
| Q3 25 | $158.8M | $508.7M | ||
| Q2 25 | $320.3M | $322.9M | ||
| Q1 25 | $83.2M | $303.3M | ||
| Q4 24 | $206.3M | $425.2M | ||
| Q3 24 | $21.0M | $378.2M | ||
| Q2 24 | $146.3M | $378.4M |
自由现金流PIIVRT
| Q1 26 | $-342.5M | $652.8M | ||
| Q4 25 | $114.0M | $885.6M | ||
| Q3 25 | $116.7M | $463.5M | ||
| Q2 25 | $279.8M | $277.9M | ||
| Q1 25 | $47.6M | $266.8M | ||
| Q4 24 | $137.3M | $364.5M | ||
| Q3 24 | $-32.4M | $341.8M | ||
| Q2 24 | $79.1M | $344.3M |
自由现金流率PIIVRT
| Q1 26 | -20.6% | 24.6% | ||
| Q4 25 | 5.9% | 30.8% | ||
| Q3 25 | 6.3% | 17.3% | ||
| Q2 25 | 15.1% | 10.5% | ||
| Q1 25 | 3.1% | 13.1% | ||
| Q4 24 | 7.8% | 15.5% | ||
| Q3 24 | -1.9% | 16.5% | ||
| Q2 24 | 4.0% | 17.6% |
资本支出强度PIIVRT
| Q1 26 | — | 4.2% | ||
| Q4 25 | 3.4% | 3.2% | ||
| Q3 25 | 2.3% | 1.7% | ||
| Q2 25 | 2.2% | 1.7% | ||
| Q1 25 | 2.3% | 1.8% | ||
| Q4 24 | 3.9% | 2.6% | ||
| Q3 24 | 3.1% | 1.8% | ||
| Q2 24 | 3.4% | 1.7% |
现金转化率PIIVRT
| Q1 26 | — | — | ||
| Q4 25 | — | 2.20× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 1.84× | ||
| Q4 24 | 19.46× | 2.89× | ||
| Q3 24 | 0.76× | 2.14× | ||
| Q2 24 | 2.13× | 2.12× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
