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Quad/Graphics, Inc.（QUAD）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
Quad/Graphics, Inc.的季度营收约是世纪互联的1.7倍（$630.6M vs $362.7M），Quad/Graphics, Inc.自由现金流更多（$137.2M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -1.9%）
奎德图形是一家总部位于美国威斯康星州萨塞克斯的营销服务企业，主营各类印刷与营销服务，业务覆盖受众定向、全渠道媒体策划投放、创意内容制作、零售展示包装、邮件优化及消费者分析等领域，可同时服务实体与数字媒体渠道。2025年，该企业位列美国大型广告集团、北美大型商业印刷企业之列。
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。
QUAD vs VNET — 直观对比
营收规模更大
QUAD
是对方的1.7倍
$362.7M
自由现金流更多
QUAD
多$330.3M
$-193.1M
两年增速更快
VNET
近两年复合增速
-1.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $630.6M | $362.7M |
| 净利润 | — | $-38.7M |
| 毛利率 | 21.6% | 20.9% |
| 营业利润率 | 5.9% | 0.5% |
| 净利率 | — | -10.7% |
| 营收同比 | -11.0% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.22 | — |
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QUADVNET
| Q4 25 | $630.6M | — | ||
| Q3 25 | $588.0M | $362.7M | ||
| Q2 25 | $571.9M | — | ||
| Q1 25 | $629.4M | $309.5M | ||
| Q4 24 | $708.4M | — | ||
| Q3 24 | $674.8M | $302.2M | ||
| Q2 24 | $634.2M | $274.4M | ||
| Q1 24 | $654.8M | $262.9M |
净利润QUADVNET
| Q4 25 | — | — | ||
| Q3 25 | $10.2M | $-38.7M | ||
| Q2 25 | $-100.0K | — | ||
| Q1 25 | $5.8M | $-2.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-24.7M | $-2.1M | ||
| Q2 24 | $-2.8M | $-1.1M | ||
| Q1 24 | $-28.1M | $-22.0M |
毛利率QUADVNET
| Q4 25 | 21.6% | — | ||
| Q3 25 | 22.8% | 20.9% | ||
| Q2 25 | 21.6% | — | ||
| Q1 25 | 20.6% | 25.2% | ||
| Q4 24 | 22.4% | — | ||
| Q3 24 | 21.8% | 23.2% | ||
| Q2 24 | 22.1% | 21.3% | ||
| Q1 24 | 20.4% | 21.6% |
营业利润率QUADVNET
| Q4 25 | 5.9% | — | ||
| Q3 25 | 4.5% | 0.5% | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 3.1% | 0.1% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | -0.7% | 24.5% | ||
| Q2 24 | 2.4% | 0.2% | ||
| Q1 24 | -1.6% | 0.2% |
净利率QUADVNET
| Q4 25 | — | — | ||
| Q3 25 | 1.7% | -10.7% | ||
| Q2 25 | -0.0% | — | ||
| Q1 25 | 0.9% | -0.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | -3.7% | -0.7% | ||
| Q2 24 | -0.4% | -0.4% | ||
| Q1 24 | -4.3% | -8.4% |
每股收益（稀释后）QUADVNET
| Q4 25 | $0.22 | — | ||
| Q3 25 | $0.21 | — | ||
| Q2 25 | $0.00 | — | ||
| Q1 25 | $0.11 | — | ||
| Q4 24 | $0.11 | — | ||
| Q3 24 | $-0.52 | — | ||
| Q2 24 | $-0.06 | — | ||
| Q1 24 | $-0.60 | — |
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 | $63.3M | $492.1M |
| 总债务越低越好 | $369.9M | — |
| 股东权益账面价值 | $-59.5M | $890.8M |
| 总资产 | $1.3B | $6.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资QUADVNET
| Q4 25 | $63.3M | — | ||
| Q3 25 | $6.2M | $492.1M | ||
| Q2 25 | $6.7M | — | ||
| Q1 25 | $8.1M | $544.3M | ||
| Q4 24 | $29.2M | — | ||
| Q3 24 | $12.5M | $219.5M | ||
| Q2 24 | $12.8M | $247.2M | ||
| Q1 24 | $10.2M | $246.9M |
总债务QUADVNET
| Q4 25 | $369.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $377.1M | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益QUADVNET
| Q4 25 | $-59.5M | — | ||
| Q3 25 | $96.7M | $890.8M | ||
| Q2 25 | $87.0M | — | ||
| Q1 25 | $87.4M | $927.8M | ||
| Q4 24 | $-131.2M | — | ||
| Q3 24 | $50.9M | $902.9M | ||
| Q2 24 | $79.1M | $900.6M | ||
| Q1 24 | $89.2M | $895.1M |
总资产QUADVNET
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | $6.1B | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | $5.4B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.4B | $4.3B | ||
| Q2 24 | $1.4B | $4.0B | ||
| Q1 24 | $1.4B | $3.9B |
负债/权益比QUADVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $145.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $137.2M | $-193.1M |
| 自由现金流率自由现金流/营收 | 21.8% | -53.2% |
| 资本支出强度资本支出/营收 | 1.4% | 84.6% |
| 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 | $50.7M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流QUADVNET
| Q4 25 | $145.9M | — | ||
| Q3 25 | $-8.4M | $113.8M | ||
| Q2 25 | $47.4M | — | ||
| Q1 25 | $-89.0M | $27.0M | ||
| Q4 24 | $158.8M | — | ||
| Q3 24 | $2.4M | $108.3M | ||
| Q2 24 | $3.9M | $55.8M | ||
| Q1 24 | $-52.2M | $37.1M |
自由现金流QUADVNET
| Q4 25 | $137.2M | — | ||
| Q3 25 | $-20.6M | $-193.1M | ||
| Q2 25 | $34.4M | — | ||
| Q1 25 | $-100.3M | $-220.0M | ||
| Q4 24 | $147.3M | — | ||
| Q3 24 | $-9.8M | $-95.0M | ||
| Q2 24 | $-11.7M | $-81.6M | ||
| Q1 24 | $-70.1M | $-102.2M |
自由现金流率QUADVNET
| Q4 25 | 21.8% | — | ||
| Q3 25 | -3.5% | -53.2% | ||
| Q2 25 | 6.0% | — | ||
| Q1 25 | -15.9% | -71.1% | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | -1.5% | -31.4% | ||
| Q2 24 | -1.8% | -29.8% | ||
| Q1 24 | -10.7% | -38.9% |
资本支出强度QUADVNET
| Q4 25 | 1.4% | — | ||
| Q3 25 | 2.1% | 84.6% | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 1.8% | 79.8% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 1.8% | 67.3% | ||
| Q2 24 | 2.5% | 50.1% | ||
| Q1 24 | 2.7% | 53.0% |
现金转化率QUADVNET
| Q4 25 | — | — | ||
| Q3 25 | -0.82× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -15.34× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
QUAD
| Catalog Publications Retail Inserts Books And Directories | $300.6M | 48% |
| Direct Mail And Other Printed Products | $147.1M | 23% |
| Imaging Marketing Services And Other Services | $79.8M | 13% |
| Logistic Services | $61.4M | 10% |
| Other | $39.3M | 6% |
| Other Revenues | $2.4M | 0% |
VNET
暂无分部数据
