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通用动力（PLOW）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通用动力的2.0倍（$362.7M vs $184.5M），通用动力净利率更高（7.0% vs -10.7%，领先17.6%），通用动力自由现金流更多（$92.8M vs $-193.1M），过去两年通用动力的营收复合增速更高（38.9% vs 17.4%）
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
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。
PLOW vs VNET — 直观对比
营收规模更大
VNET
是对方的2.0倍
$184.5M
净利率更高
PLOW
高出17.6%
-10.7%
自由现金流更多
PLOW
多$285.9M
$-193.1M
两年增速更快
PLOW
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $184.5M | $362.7M |
| 净利润 | $12.8M | $-38.7M |
| 毛利率 | 26.1% | 20.9% |
| 营业利润率 | 10.5% | 0.5% |
| 净利率 | 7.0% | -10.7% |
| 营收同比 | 28.6% | — |
| 净利润同比 | 62.3% | — |
| 每股收益（稀释后） | $0.54 | — |
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PLOWVNET
| Q4 25 | $184.5M | — | ||
| Q3 25 | $162.1M | $362.7M | ||
| Q2 25 | $194.3M | — | ||
| Q1 25 | $115.1M | $309.5M | ||
| Q4 24 | $143.5M | — | ||
| Q3 24 | $129.4M | $302.2M | ||
| Q2 24 | $199.9M | $274.4M | ||
| Q1 24 | $95.7M | $262.9M |
净利润PLOWVNET
| Q4 25 | $12.8M | — | ||
| Q3 25 | $8.0M | $-38.7M | ||
| Q2 25 | $26.0M | — | ||
| Q1 25 | $148.0K | $-2.4M | ||
| Q4 24 | $7.9M | — | ||
| Q3 24 | $32.3M | $-2.1M | ||
| Q2 24 | $24.3M | $-1.1M | ||
| Q1 24 | $-8.4M | $-22.0M |
毛利率PLOWVNET
| Q4 25 | 26.1% | — | ||
| Q3 25 | 23.5% | 20.9% | ||
| Q2 25 | 31.0% | — | ||
| Q1 25 | 24.5% | 25.2% | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 23.9% | 23.2% | ||
| Q2 24 | 30.7% | 21.3% | ||
| Q1 24 | 19.8% | 21.6% |
营业利润率PLOWVNET
| Q4 25 | 10.5% | — | ||
| Q3 25 | 8.7% | 0.5% | ||
| Q2 25 | 19.0% | — | ||
| Q1 25 | 2.8% | 0.1% | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 35.4% | 24.5% | ||
| Q2 24 | 18.2% | 0.2% | ||
| Q1 24 | -6.7% | 0.2% |
净利率PLOWVNET
| Q4 25 | 7.0% | — | ||
| Q3 25 | 4.9% | -10.7% | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 0.1% | -0.8% | ||
| Q4 24 | 5.5% | — | ||
| Q3 24 | 24.9% | -0.7% | ||
| Q2 24 | 12.2% | -0.4% | ||
| Q1 24 | -8.7% | -8.4% |
每股收益（稀释后）PLOWVNET
| Q4 25 | $0.54 | — | ||
| Q3 25 | $0.33 | — | ||
| Q2 25 | $1.09 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $1.36 | — | ||
| Q2 24 | $1.02 | — | ||
| Q1 24 | $-0.37 | — |
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 | — | $492.1M |
| 总债务越低越好 | $144.0M | — |
| 股东权益账面价值 | $281.4M | $890.8M |
| 总资产 | $626.7M | $6.1B |
| 负债/权益比越低杠杆越低 | 0.51× | — |
8季度趋势，按日历期对齐
现金及短期投资PLOWVNET
| Q4 25 | — | — | ||
| Q3 25 | — | $492.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $544.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $219.5M | ||
| Q2 24 | — | $247.2M | ||
| Q1 24 | — | $246.9M |
总债务PLOWVNET
| Q4 25 | $144.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PLOWVNET
| Q4 25 | $281.4M | — | ||
| Q3 25 | $275.3M | $890.8M | ||
| Q2 25 | $273.3M | — | ||
| Q1 25 | $258.9M | $927.8M | ||
| Q4 24 | $264.2M | — | ||
| Q3 24 | $260.8M | $902.9M | ||
| Q2 24 | $236.7M | $900.6M | ||
| Q1 24 | $217.2M | $895.1M |
总资产PLOWVNET
| Q4 25 | $626.7M | — | ||
| Q3 25 | $694.9M | $6.1B | ||
| Q2 25 | $671.5M | — | ||
| Q1 25 | $621.0M | $5.4B | ||
| Q4 24 | $590.0M | — | ||
| Q3 24 | $665.6M | $4.3B | ||
| Q2 24 | $617.0M | $4.0B | ||
| Q1 24 | $577.1M | $3.9B |
负债/权益比PLOWVNET
| Q4 25 | 0.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.56× | — | ||
| 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 | $95.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $92.8M | $-193.1M |
| 自由现金流率自由现金流/营收 | 50.3% | -53.2% |
| 资本支出强度资本支出/营收 | 1.7% | 84.6% |
| 现金转化率经营现金流/净利润 | 7.47× | — |
| 过去12个月自由现金流最近4个季度 | $63.6M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流PLOWVNET
| Q4 25 | $95.9M | — | ||
| Q3 25 | $-8.5M | $113.8M | ||
| Q2 25 | $-11.4M | — | ||
| Q1 25 | $-1.3M | $27.0M | ||
| Q4 24 | $74.4M | — | ||
| Q3 24 | $-14.2M | $108.3M | ||
| Q2 24 | $2.5M | $55.8M | ||
| Q1 24 | $-21.6M | $37.1M |
自由现金流PLOWVNET
| Q4 25 | $92.8M | — | ||
| Q3 25 | $-11.4M | $-193.1M | ||
| Q2 25 | $-14.3M | — | ||
| Q1 25 | $-3.5M | $-220.0M | ||
| Q4 24 | $70.2M | — | ||
| Q3 24 | $-15.2M | $-95.0M | ||
| Q2 24 | $836.0K | $-81.6M | ||
| Q1 24 | $-22.4M | $-102.2M |
自由现金流率PLOWVNET
| Q4 25 | 50.3% | — | ||
| Q3 25 | -7.1% | -53.2% | ||
| Q2 25 | -7.4% | — | ||
| Q1 25 | -3.0% | -71.1% | ||
| Q4 24 | 48.9% | — | ||
| Q3 24 | -11.8% | -31.4% | ||
| Q2 24 | 0.4% | -29.8% | ||
| Q1 24 | -23.4% | -38.9% |
资本支出强度PLOWVNET
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.8% | 84.6% | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.9% | 79.8% | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 0.8% | 67.3% | ||
| Q2 24 | 0.8% | 50.1% | ||
| Q1 24 | 0.8% | 53.0% |
现金转化率PLOWVNET
| Q4 25 | 7.47× | — | ||
| Q3 25 | -1.07× | — | ||
| Q2 25 | -0.44× | — | ||
| Q1 25 | -9.03× | — | ||
| Q4 24 | 9.41× | — | ||
| Q3 24 | -0.44× | — | ||
| Q2 24 | 0.10× | — | ||
| Q1 24 | — | — |
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
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
VNET
暂无分部数据
