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Regency Centers（REG）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
Regency Centers的季度营收约是世纪互联的1.1倍（$404.2M vs $362.7M），Regency Centers净利率更高（50.1% vs -10.7%，领先60.8%），过去两年世纪互联的营收复合增速更高（17.4% vs 5.4%）
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
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。
REG vs VNET — 直观对比
营收规模更大
REG
是对方的1.1倍
$362.7M
净利率更高
REG
高出60.8%
-10.7%
两年增速更快
VNET
近两年复合增速
5.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $404.2M | $362.7M |
| 净利润 | $202.5M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 71.0% | 0.5% |
| 净利率 | 50.1% | -10.7% |
| 营收同比 | 8.5% | — |
| 净利润同比 | 134.1% | — |
| 每股收益（稀释后） | — | — |
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REGVNET
| Q4 25 | $404.2M | — | ||
| Q3 25 | $387.6M | $362.7M | ||
| Q2 25 | $380.8M | — | ||
| Q1 25 | $380.9M | $309.5M | ||
| Q4 24 | $372.5M | — | ||
| Q3 24 | $360.3M | $302.2M | ||
| Q2 24 | $357.3M | $274.4M | ||
| Q1 24 | $363.9M | $262.9M |
净利润REGVNET
| Q4 25 | $202.5M | — | ||
| Q3 25 | $109.4M | $-38.7M | ||
| Q2 25 | $106.0M | — | ||
| Q1 25 | $109.6M | $-2.4M | ||
| Q4 24 | $86.5M | — | ||
| Q3 24 | $101.5M | $-2.1M | ||
| Q2 24 | $102.7M | $-1.1M | ||
| Q1 24 | $109.8M | $-22.0M |
毛利率REGVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率REGVNET
| Q4 25 | 71.0% | — | ||
| Q3 25 | 72.7% | 0.5% | ||
| Q2 25 | 73.8% | — | ||
| Q1 25 | 71.8% | 0.1% | ||
| Q4 24 | 71.1% | — | ||
| Q3 24 | 72.5% | 24.5% | ||
| Q2 24 | 72.3% | 0.2% | ||
| Q1 24 | 72.3% | 0.2% |
净利率REGVNET
| Q4 25 | 50.1% | — | ||
| Q3 25 | 28.2% | -10.7% | ||
| Q2 25 | 27.8% | — | ||
| Q1 25 | 28.8% | -0.8% | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 28.2% | -0.7% | ||
| Q2 24 | 28.7% | -0.4% | ||
| Q1 24 | 30.2% | -8.4% |
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 | $4.7B | — |
| 股东权益账面价值 | $6.9B | $890.8M |
| 总资产 | $13.0B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资REGVNET
| 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REGVNET
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.9B | — | ||
| Q2 25 | $4.8B | — | ||
| Q1 25 | $4.6B | — | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $4.4B | $1.2B | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.4B | — |
股东权益REGVNET
| Q4 25 | $6.9B | — | ||
| Q3 25 | $6.8B | $890.8M | ||
| Q2 25 | $6.7B | — | ||
| Q1 25 | $6.7B | $927.8M | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $6.8B | $902.9M | ||
| Q2 24 | $6.8B | $900.6M | ||
| Q1 24 | $7.0B | $895.1M |
总资产REGVNET
| Q4 25 | $13.0B | — | ||
| Q3 25 | $13.1B | $6.1B | ||
| Q2 25 | $12.7B | — | ||
| Q1 25 | $12.6B | $5.4B | ||
| Q4 24 | $12.4B | — | ||
| Q3 24 | $12.4B | $4.3B | ||
| Q2 24 | $12.4B | $4.0B | ||
| Q1 24 | $12.7B | $3.9B |
负债/权益比REGVNET
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.65× | 1.28× | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.63× | — |
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 | $203.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-193.1M |
| 自由现金流率自由现金流/营收 | — | -53.2% |
| 资本支出强度资本支出/营收 | — | 84.6% |
| 现金转化率经营现金流/净利润 | 1.01× | — |
| 过去12个月自由现金流最近4个季度 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流REGVNET
| Q4 25 | $203.9M | — | ||
| Q3 25 | $218.7M | $113.8M | ||
| Q2 25 | $244.0M | — | ||
| Q1 25 | $161.0M | $27.0M | ||
| Q4 24 | $191.4M | — | ||
| Q3 24 | $227.6M | $108.3M | ||
| Q2 24 | $203.5M | $55.8M | ||
| Q1 24 | $167.8M | $37.1M |
自由现金流REGVNET
| Q4 25 | — | — | ||
| Q3 25 | — | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-220.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-95.0M | ||
| Q2 24 | — | $-81.6M | ||
| Q1 24 | — | $-102.2M |
自由现金流率REGVNET
| Q4 25 | — | — | ||
| Q3 25 | — | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -71.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -31.4% | ||
| Q2 24 | — | -29.8% | ||
| Q1 24 | — | -38.9% |
资本支出强度REGVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 79.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | — | 53.0% |
现金转化率REGVNET
| Q4 25 | 1.01× | — | ||
| Q3 25 | 2.00× | — | ||
| Q2 25 | 2.30× | — | ||
| Q1 25 | 1.47× | — | ||
| Q4 24 | 2.21× | — | ||
| Q3 24 | 2.24× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 1.53× | — |
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
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
VNET
暂无分部数据
