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RADIAN GROUP INC（RDN）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RADIAN GROUP INC的1.2倍（$362.7M vs $300.5M），RADIAN GROUP INC净利率更高（51.5% vs -10.7%，领先62.2%），RADIAN GROUP INC自由现金流更多（$115.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -0.2%）
瑞迪安集团（Radian Group Inc.）是一家专业的 mortgage 保险公司，业务涵盖抵押贷款保险、风险管控、房地产服务及产权服务等多个板块，为住房金融市场提供完善的配套服务支持，助力行业降低信贷相关风险。
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。
RDN vs VNET — 直观对比
营收规模更大
VNET
是对方的1.2倍
$300.5M
净利率更高
RDN
高出62.2%
-10.7%
自由现金流更多
RDN
多$308.7M
$-193.1M
两年增速更快
VNET
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $300.5M | $362.7M |
| 净利润 | $154.8M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 76.2% | 0.5% |
| 净利率 | 51.5% | -10.7% |
| 营收同比 | 2.7% | — |
| 净利润同比 | 4.4% | — |
| 每股收益（稀释后） | $1.11 | — |
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RDNVNET
| Q4 25 | $300.5M | — | ||
| Q3 25 | $303.2M | $362.7M | ||
| Q2 25 | $298.6M | — | ||
| Q1 25 | $294.8M | $309.5M | ||
| Q4 24 | $292.7M | — | ||
| Q3 24 | $313.4M | $302.2M | ||
| Q2 24 | $298.6M | $274.4M | ||
| Q1 24 | $301.7M | $262.9M |
净利润RDNVNET
| Q4 25 | $154.8M | — | ||
| Q3 25 | $141.4M | $-38.7M | ||
| Q2 25 | $141.8M | — | ||
| Q1 25 | $144.6M | $-2.4M | ||
| Q4 24 | $148.3M | — | ||
| Q3 24 | $151.9M | $-2.1M | ||
| Q2 24 | $151.9M | $-1.1M | ||
| Q1 24 | $152.4M | $-22.0M |
毛利率RDNVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | 97.2% | — | ||
| Q1 25 | 97.0% | 25.2% | ||
| Q4 24 | 96.6% | — | ||
| Q3 24 | 97.0% | 23.2% | ||
| Q2 24 | 96.8% | 21.3% | ||
| Q1 24 | 96.9% | 21.6% |
营业利润率RDNVNET
| Q4 25 | 76.2% | — | ||
| Q3 25 | 65.5% | 0.5% | ||
| Q2 25 | 58.6% | — | ||
| Q1 25 | 63.9% | 0.1% | ||
| Q4 24 | 83.6% | — | ||
| Q3 24 | 68.4% | 24.5% | ||
| Q2 24 | 63.0% | 0.2% | ||
| Q1 24 | 65.8% | 0.2% |
净利率RDNVNET
| Q4 25 | 51.5% | — | ||
| Q3 25 | 46.7% | -10.7% | ||
| Q2 25 | 47.5% | — | ||
| Q1 25 | 49.0% | -0.8% | ||
| Q4 24 | 50.7% | — | ||
| Q3 24 | 48.5% | -0.7% | ||
| Q2 24 | 50.9% | -0.4% | ||
| Q1 24 | 50.5% | -8.4% |
每股收益（稀释后）RDNVNET
| Q4 25 | $1.11 | — | ||
| Q3 25 | $1.03 | — | ||
| Q2 25 | $1.02 | — | ||
| Q1 25 | $0.98 | — | ||
| Q4 24 | $0.97 | — | ||
| Q3 24 | $0.99 | — | ||
| Q2 24 | $0.98 | — | ||
| Q1 24 | $0.98 | — |
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 | $24.8M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.8B | $890.8M |
| 总资产 | $8.1B | $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RDNVNET
| Q4 25 | $24.8M | — | ||
| Q3 25 | $15.3M | $492.1M | ||
| Q2 25 | $22.1M | — | ||
| Q1 25 | $24.2M | $544.3M | ||
| Q4 24 | $19.2M | — | ||
| Q3 24 | $28.1M | $219.5M | ||
| Q2 24 | $13.8M | $247.2M | ||
| Q1 24 | $27.0M | $246.9M |
总债务RDNVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益RDNVNET
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.7B | $890.8M | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.6B | $927.8M | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.7B | $902.9M | ||
| Q2 24 | $4.5B | $900.6M | ||
| Q1 24 | $4.4B | $895.1M |
总资产RDNVNET
| Q4 25 | $8.1B | — | ||
| Q3 25 | $8.2B | $6.1B | ||
| Q2 25 | $9.6B | — | ||
| Q1 25 | $8.8B | $5.4B | ||
| Q4 24 | $8.7B | — | ||
| Q3 24 | $8.4B | $4.3B | ||
| Q2 24 | $8.1B | $4.0B | ||
| Q1 24 | $7.8B | $3.9B |
负债/权益比RDNVNET
| 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 | $119.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $115.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | 38.5% | -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 | 0.77× | — |
| 过去12个月自由现金流最近4个季度 | $-174.8M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流RDNVNET
| Q4 25 | $119.9M | — | ||
| Q3 25 | $358.4M | $113.8M | ||
| Q2 25 | $-713.3M | — | ||
| Q1 25 | $67.8M | $27.0M | ||
| Q4 24 | $-663.6M | — | ||
| Q3 24 | $-237.9M | $108.3M | ||
| Q2 24 | $-207.3M | $55.8M | ||
| Q1 24 | $51.0M | $37.1M |
自由现金流RDNVNET
| Q4 25 | $115.7M | — | ||
| Q3 25 | $357.6M | $-193.1M | ||
| Q2 25 | $-714.6M | — | ||
| Q1 25 | $66.6M | $-220.0M | ||
| Q4 24 | $-665.1M | — | ||
| Q3 24 | $-239.2M | $-95.0M | ||
| Q2 24 | $-208.3M | $-81.6M | ||
| Q1 24 | $49.5M | $-102.2M |
自由现金流率RDNVNET
| Q4 25 | 38.5% | — | ||
| Q3 25 | 117.9% | -53.2% | ||
| Q2 25 | -239.4% | — | ||
| Q1 25 | 22.6% | -71.1% | ||
| Q4 24 | -227.3% | — | ||
| Q3 24 | -76.3% | -31.4% | ||
| Q2 24 | -69.8% | -29.8% | ||
| Q1 24 | 16.4% | -38.9% |
资本支出强度RDNVNET
| Q4 25 | 1.4% | — | ||
| Q3 25 | 0.3% | 84.6% | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.4% | 79.8% | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.4% | 67.3% | ||
| Q2 24 | 0.4% | 50.1% | ||
| Q1 24 | 0.5% | 53.0% |
现金转化率RDNVNET
| Q4 25 | 0.77× | — | ||
| Q3 25 | 2.53× | — | ||
| Q2 25 | -5.03× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | -4.47× | — | ||
| Q3 24 | -1.57× | — | ||
| Q2 24 | -1.36× | — | ||
| Q1 24 | 0.34× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
