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SAFETY INSURANCE GROUP INC（SAFT）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SAFETY INSURANCE GROUP INC的1.1倍（$362.7M vs $319.3M），SAFETY INSURANCE GROUP INC净利率更高（6.3% vs -10.7%，领先17.0%），SAFETY INSURANCE GROUP INC自由现金流更多（$192.0M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 9.1%）
全美互助保险集团及其关联公司，常简称为Nationwide，是一家总部位于美国俄亥俄州哥伦布市的大型保险金融服务集团，在亚利桑那州斯科茨代尔、爱荷华州得梅因都设有区域总部。目前集团拥有约2.4万名员工，位列2025年财富美国500强榜单第72名。
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。
SAFT vs VNET — 直观对比
营收规模更大
VNET
是对方的1.1倍
$319.3M
净利率更高
SAFT
高出17.0%
-10.7%
自由现金流更多
SAFT
多$385.1M
$-193.1M
两年增速更快
VNET
近两年复合增速
9.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $319.3M | $362.7M |
| 净利润 | $20.1M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 8.0% | 0.5% |
| 净利率 | 6.3% | -10.7% |
| 营收同比 | 11.4% | — |
| 净利润同比 | 147.3% | — |
| 每股收益（稀释后） | $1.36 | — |
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SAFTVNET
| Q4 25 | $319.3M | — | ||
| Q3 25 | $326.6M | $362.7M | ||
| Q2 25 | $316.3M | — | ||
| Q1 25 | $301.4M | $309.5M | ||
| Q4 24 | $286.7M | — | ||
| Q3 24 | $295.3M | $302.2M | ||
| Q2 24 | $269.8M | $274.4M | ||
| Q1 24 | $268.2M | $262.9M |
净利润SAFTVNET
| Q4 25 | $20.1M | — | ||
| Q3 25 | $28.3M | $-38.7M | ||
| Q2 25 | $28.9M | — | ||
| Q1 25 | $21.9M | $-2.4M | ||
| Q4 24 | $8.1M | — | ||
| Q3 24 | $25.9M | $-2.1M | ||
| Q2 24 | $16.6M | $-1.1M | ||
| Q1 24 | $20.1M | $-22.0M |
毛利率SAFTVNET
| 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SAFTVNET
| Q4 25 | 8.0% | — | ||
| Q3 25 | 11.1% | 0.5% | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 9.4% | 0.1% | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 11.1% | 24.5% | ||
| Q2 24 | 7.9% | 0.2% | ||
| Q1 24 | 9.5% | 0.2% |
净利率SAFTVNET
| Q4 25 | 6.3% | — | ||
| Q3 25 | 8.7% | -10.7% | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 7.3% | -0.8% | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 8.8% | -0.7% | ||
| Q2 24 | 6.2% | -0.4% | ||
| Q1 24 | 7.5% | -8.4% |
每股收益（稀释后）SAFTVNET
| Q4 25 | $1.36 | — | ||
| Q3 25 | $1.91 | — | ||
| Q2 25 | $1.95 | — | ||
| Q1 25 | $1.48 | — | ||
| Q4 24 | $0.56 | — | ||
| Q3 24 | $1.73 | — | ||
| Q2 24 | $1.13 | — | ||
| Q1 24 | $1.36 | — |
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 | $73.9M | $492.1M |
| 总债务越低越好 | $50.0M | — |
| 股东权益账面价值 | $892.3M | $890.8M |
| 总资产 | $2.5B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.06× | — |
8季度趋势，按日历期对齐
现金及短期投资SAFTVNET
| Q4 25 | $73.9M | — | ||
| Q3 25 | $56.2M | $492.1M | ||
| Q2 25 | $49.4M | — | ||
| Q1 25 | $64.7M | $544.3M | ||
| Q4 24 | $59.0M | — | ||
| Q3 24 | $82.3M | $219.5M | ||
| Q2 24 | $44.6M | $247.2M | ||
| Q1 24 | $30.8M | $246.9M |
总债务SAFTVNET
| Q4 25 | $50.0M | — | ||
| Q3 25 | $30.0M | — | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $30.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益SAFTVNET
| Q4 25 | $892.3M | — | ||
| Q3 25 | $899.6M | $890.8M | ||
| Q2 25 | $873.3M | — | ||
| Q1 25 | $850.7M | $927.8M | ||
| Q4 24 | $828.5M | — | ||
| Q3 24 | $851.4M | $902.9M | ||
| Q2 24 | $810.2M | $900.6M | ||
| Q1 24 | $807.1M | $895.1M |
总资产SAFTVNET
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | $6.1B | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | $5.4B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | $4.3B | ||
| Q2 24 | $2.2B | $4.0B | ||
| Q1 24 | $2.1B | $3.9B |
负债/权益比SAFTVNET
| Q4 25 | 0.06× | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.04× | — | ||
| 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 | $194.5M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $192.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 60.1% | -53.2% |
| 资本支出强度资本支出/营收 | 0.8% | 84.6% |
| 现金转化率经营现金流/净利润 | 9.67× | — |
| 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SAFTVNET
| Q4 25 | $194.5M | — | ||
| Q3 25 | $85.5M | $113.8M | ||
| Q2 25 | $32.3M | — | ||
| Q1 25 | $3.2M | $27.0M | ||
| Q4 24 | $128.7M | — | ||
| Q3 24 | $73.8M | $108.3M | ||
| Q2 24 | $25.6M | $55.8M | ||
| Q1 24 | $-21.1M | $37.1M |
自由现金流SAFTVNET
| Q4 25 | $192.0M | — | ||
| Q3 25 | — | $-193.1M | ||
| Q2 25 | $32.3M | — | ||
| Q1 25 | $2.8M | $-220.0M | ||
| Q4 24 | $124.3M | — | ||
| Q3 24 | $73.2M | $-95.0M | ||
| Q2 24 | $25.0M | $-81.6M | ||
| Q1 24 | $-24.2M | $-102.2M |
自由现金流率SAFTVNET
| Q4 25 | 60.1% | — | ||
| Q3 25 | — | -53.2% | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 0.9% | -71.1% | ||
| Q4 24 | 43.4% | — | ||
| Q3 24 | 24.8% | -31.4% | ||
| Q2 24 | 9.3% | -29.8% | ||
| Q1 24 | -9.0% | -38.9% |
资本支出强度SAFTVNET
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.0% | 84.6% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | 79.8% | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 0.2% | 67.3% | ||
| Q2 24 | 0.2% | 50.1% | ||
| Q1 24 | 1.1% | 53.0% |
现金转化率SAFTVNET
| Q4 25 | 9.67× | — | ||
| Q3 25 | 3.02× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 15.83× | — | ||
| Q3 24 | 2.85× | — | ||
| Q2 24 | 1.54× | — | ||
| Q1 24 | -1.05× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
