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RLJ Lodging Trust（RLJ）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RLJ Lodging Trust的1.1倍（$362.7M vs $328.6M），RLJ Lodging Trust净利率更高（0.1% vs -10.7%，领先10.8%），RLJ Lodging Trust自由现金流更多（$117.4M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 0.6%）
RLJ集团是美国企业家罗伯特·路易斯·约翰逊创办的资产管理企业。约翰逊在2001年出售自己一手创立的黑人娱乐电视台后，于马里兰州贝塞斯达成立了这家公司。集团业务覆盖酒店不动产投资、私募股权投资、金融服务、资产管理、保险、汽车经销、文体娱乐以及电子彩票 gaming 等多个领域，总部设于贝塞斯达。
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。
RLJ vs VNET — 直观对比
营收规模更大
VNET
是对方的1.1倍
$328.6M
净利率更高
RLJ
高出10.8%
-10.7%
自由现金流更多
RLJ
多$310.5M
$-193.1M
两年增速更快
VNET
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $328.6M | $362.7M |
| 净利润 | $430.0K | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 0.2% | 0.5% |
| 净利率 | 0.1% | -10.7% |
| 营收同比 | -0.4% | — |
| 净利润同比 | -92.0% | — |
| 每股收益（稀释后） | $-0.05 | — |
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RLJVNET
| Q4 25 | $328.6M | — | ||
| Q3 25 | $330.0M | $362.7M | ||
| Q2 25 | $363.1M | — | ||
| Q1 25 | $328.1M | $309.5M | ||
| Q4 24 | $330.0M | — | ||
| Q3 24 | $345.7M | $302.2M | ||
| Q2 24 | $369.3M | $274.4M | ||
| Q1 24 | $324.4M | $262.9M |
净利润RLJVNET
| Q4 25 | $430.0K | — | ||
| Q3 25 | $-3.7M | $-38.7M | ||
| Q2 25 | $28.5M | — | ||
| Q1 25 | $3.4M | $-2.4M | ||
| Q4 24 | $5.4M | — | ||
| Q3 24 | $20.6M | $-2.1M | ||
| Q2 24 | $37.1M | $-1.1M | ||
| Q1 24 | $4.9M | $-22.0M |
毛利率RLJVNET
| 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RLJVNET
| Q4 25 | 0.2% | — | ||
| Q3 25 | -1.0% | 0.5% | ||
| Q2 25 | 8.0% | — | ||
| Q1 25 | 1.1% | 0.1% | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 6.1% | 24.5% | ||
| Q2 24 | 10.2% | 0.2% | ||
| Q1 24 | 1.6% | 0.2% |
净利率RLJVNET
| Q4 25 | 0.1% | — | ||
| Q3 25 | -1.1% | -10.7% | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 1.0% | -0.8% | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 6.0% | -0.7% | ||
| Q2 24 | 10.0% | -0.4% | ||
| Q1 24 | 1.5% | -8.4% |
每股收益（稀释后）RLJVNET
| Q4 25 | $-0.05 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $0.15 | — | ||
| Q1 25 | $-0.02 | — | ||
| Q4 24 | $-0.01 | — | ||
| Q3 24 | $0.09 | — | ||
| Q2 24 | $0.20 | — | ||
| Q1 24 | $-0.01 | — |
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 | $410.2M | $492.1M |
| 总债务越低越好 | $2.2B | — |
| 股东权益账面价值 | $2.2B | $890.8M |
| 总资产 | $4.7B | $6.1B |
| 负债/权益比越低杠杆越低 | 1.01× | — |
8季度趋势，按日历期对齐
现金及短期投资RLJVNET
| Q4 25 | $410.2M | — | ||
| Q3 25 | $374.8M | $492.1M | ||
| Q2 25 | $373.9M | — | ||
| Q1 25 | $347.5M | $544.3M | ||
| Q4 24 | $409.8M | — | ||
| Q3 24 | $385.4M | $219.5M | ||
| Q2 24 | $371.1M | $247.2M | ||
| Q1 24 | $350.2M | $246.9M |
总债务RLJVNET
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.2B | $1.2B | ||
| Q2 24 | $2.2B | — | ||
| Q1 24 | $2.2B | — |
股东权益RLJVNET
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | $890.8M | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | $927.8M | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $902.9M | ||
| Q2 24 | $2.3B | $900.6M | ||
| Q1 24 | $2.3B | $895.1M |
总资产RLJVNET
| Q4 25 | $4.7B | — | ||
| Q3 25 | $4.8B | $6.1B | ||
| Q2 25 | $4.8B | — | ||
| Q1 25 | $4.8B | $5.4B | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $4.9B | $4.3B | ||
| Q2 24 | $4.9B | $4.0B | ||
| Q1 24 | $4.9B | $3.9B |
负债/权益比RLJVNET
| Q4 25 | 1.01× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 1.00× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 0.97× | — | ||
| Q3 24 | 0.96× | 1.28× | ||
| Q2 24 | 0.95× | — | ||
| Q1 24 | 0.96× | — |
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 | $243.8M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $117.4M | $-193.1M |
| 自由现金流率自由现金流/营收 | 35.7% | -53.2% |
| 资本支出强度资本支出/营收 | 38.5% | 84.6% |
| 现金转化率经营现金流/净利润 | 566.97× | — |
| 过去12个月自由现金流最近4个季度 | $186.6M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流RLJVNET
| Q4 25 | $243.8M | — | ||
| Q3 25 | $63.3M | $113.8M | ||
| Q2 25 | $101.3M | — | ||
| Q1 25 | $16.3M | $27.0M | ||
| Q4 24 | $285.4M | — | ||
| Q3 24 | $80.1M | $108.3M | ||
| Q2 24 | $113.5M | $55.8M | ||
| Q1 24 | $20.8M | $37.1M |
自由现金流RLJVNET
| Q4 25 | $117.4M | — | ||
| Q3 25 | $33.6M | $-193.1M | ||
| Q2 25 | $66.1M | — | ||
| Q1 25 | $-30.5M | $-220.0M | ||
| Q4 24 | $148.9M | — | ||
| Q3 24 | $45.4M | $-95.0M | ||
| Q2 24 | $74.9M | $-81.6M | ||
| Q1 24 | $-13.0M | $-102.2M |
自由现金流率RLJVNET
| Q4 25 | 35.7% | — | ||
| Q3 25 | 10.2% | -53.2% | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | -9.3% | -71.1% | ||
| Q4 24 | 45.1% | — | ||
| Q3 24 | 13.1% | -31.4% | ||
| Q2 24 | 20.3% | -29.8% | ||
| Q1 24 | -4.0% | -38.9% |
资本支出强度RLJVNET
| Q4 25 | 38.5% | — | ||
| Q3 25 | 9.0% | 84.6% | ||
| Q2 25 | 9.7% | — | ||
| Q1 25 | 14.3% | 79.8% | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 10.0% | 67.3% | ||
| Q2 24 | 10.4% | 50.1% | ||
| Q1 24 | 10.4% | 53.0% |
现金转化率RLJVNET
| Q4 25 | 566.97× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.56× | — | ||
| Q1 25 | 4.85× | — | ||
| Q4 24 | 53.09× | — | ||
| Q3 24 | 3.89× | — | ||
| Q2 24 | 3.06× | — | ||
| Q1 24 | 4.21× | — |
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
RLJ
| Occupancy | $262.1M | 80% |
| Food And Beverage | $41.9M | 13% |
| Hotel Other | $24.6M | 7% |
VNET
暂无分部数据
