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STEPAN CO（SCL）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
STEPAN CO的季度营收约是世纪互联的1.7倍（$604.5M vs $362.7M），STEPAN CO净利率更高（3.3% vs -10.7%，领先13.9%），过去两年世纪互联的营收复合增速更高（17.4% vs 4.2%）
斯特潘公司是一家美国特种化学品制造商，总部位于伊利诺伊州诺斯布鲁克，1932年由小阿尔弗雷德·C·斯特潘创立，现有约2000名员工，目前由创始人的孙子小F·奎因·斯特潘执掌。该公司是全球最大的阴离子表面活性剂商品生产商，产品用于提升洗涤剂、洗发水、牙膏及化妆品的起泡与清洁能力。
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。
SCL vs VNET — 直观对比
营收规模更大
SCL
是对方的1.7倍
$362.7M
净利率更高
SCL
高出13.9%
-10.7%
两年增速更快
VNET
近两年复合增速
4.2%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $604.5M | $362.7M |
| 净利润 | $19.7M | $-38.7M |
| 毛利率 | 10.7% | 20.9% |
| 营业利润率 | 4.7% | 0.5% |
| 净利率 | 3.3% | -10.7% |
| 营收同比 | 1.9% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.86 | — |
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SCLVNET
| Q1 26 | $604.5M | — | ||
| Q4 25 | $553.9M | — | ||
| Q3 25 | $590.3M | $362.7M | ||
| Q2 25 | $594.7M | — | ||
| Q1 25 | $593.3M | $309.5M | ||
| Q4 24 | $525.6M | — | ||
| Q3 24 | $546.8M | $302.2M | ||
| Q2 24 | $556.4M | $274.4M |
净利润SCLVNET
| Q1 26 | $19.7M | — | ||
| Q4 25 | $5.0M | — | ||
| Q3 25 | $10.8M | $-38.7M | ||
| Q2 25 | $11.3M | — | ||
| Q1 25 | $19.7M | $-2.4M | ||
| Q4 24 | $3.4M | — | ||
| Q3 24 | $23.6M | $-2.1M | ||
| Q2 24 | $9.5M | $-1.1M |
毛利率SCLVNET
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.3% | — | ||
| Q3 25 | 12.0% | 20.9% | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 12.7% | 25.2% | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | 13.8% | 23.2% | ||
| Q2 24 | 12.5% | 21.3% |
营业利润率SCLVNET
| Q1 26 | 4.7% | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 3.7% | 0.5% | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 4.8% | 0.1% | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 4.4% | 24.5% | ||
| Q2 24 | 3.4% | 0.2% |
净利率SCLVNET
| Q1 26 | 3.3% | — | ||
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.8% | -10.7% | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 3.3% | -0.8% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 4.3% | -0.7% | ||
| Q2 24 | 1.7% | -0.4% |
每股收益（稀释后）SCLVNET
| Q1 26 | $0.86 | — | ||
| Q4 25 | $0.22 | — | ||
| Q3 25 | $0.47 | — | ||
| Q2 25 | $0.50 | — | ||
| Q1 25 | $0.86 | — | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $1.03 | — | ||
| Q2 24 | $0.42 | — |
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 | $328.4M | — |
| 股东权益账面价值 | $1.2B | $890.8M |
| 总资产 | $2.3B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.28× | — |
8季度趋势，按日历期对齐
现金及短期投资SCLVNET
| Q1 26 | — | — | ||
| Q4 25 | $132.7M | — | ||
| Q3 25 | $118.5M | $492.1M | ||
| Q2 25 | $88.9M | — | ||
| Q1 25 | $107.5M | $544.3M | ||
| Q4 24 | $99.7M | — | ||
| Q3 24 | $147.3M | $219.5M | ||
| Q2 24 | $124.7M | $247.2M |
总债务SCLVNET
| Q1 26 | $328.4M | — | ||
| Q4 25 | $626.7M | — | ||
| Q3 25 | $655.5M | — | ||
| Q2 25 | $658.0M | — | ||
| Q1 25 | $659.3M | — | ||
| Q4 24 | $625.4M | — | ||
| Q3 24 | $688.5M | $1.2B | ||
| Q2 24 | $657.1M | — |
股东权益SCLVNET
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $890.8M | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | $927.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | $902.9M | ||
| Q2 24 | $1.2B | $900.6M |
总资产SCLVNET
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | $6.1B | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | $5.4B | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.4B | $4.3B | ||
| Q2 24 | $2.3B | $4.0B |
负债/权益比SCLVNET
| Q1 26 | 0.28× | — | ||
| Q4 25 | 0.50× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | 0.55× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 0.56× | 1.28× | ||
| Q2 24 | 0.55× | — |
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 | — | $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 | — | — |
| 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SCLVNET
| Q1 26 | — | — | ||
| Q4 25 | $60.0M | — | ||
| Q3 25 | $69.8M | $113.8M | ||
| Q2 25 | $11.2M | — | ||
| Q1 25 | $6.9M | $27.0M | ||
| Q4 24 | $68.3M | — | ||
| Q3 24 | $22.7M | $108.3M | ||
| Q2 24 | $29.5M | $55.8M |
自由现金流SCLVNET
| Q1 26 | — | — | ||
| Q4 25 | $25.4M | — | ||
| Q3 25 | $40.2M | $-193.1M | ||
| Q2 25 | $-14.4M | — | ||
| Q1 25 | $-25.8M | $-220.0M | ||
| Q4 24 | $32.1M | — | ||
| Q3 24 | $-4.0M | $-95.0M | ||
| Q2 24 | $-208.0K | $-81.6M |
自由现金流率SCLVNET
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | — | ||
| Q3 25 | 6.8% | -53.2% | ||
| Q2 25 | -2.4% | — | ||
| Q1 25 | -4.3% | -71.1% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | -0.7% | -31.4% | ||
| Q2 24 | -0.0% | -29.8% |
资本支出强度SCLVNET
| Q1 26 | — | — | ||
| Q4 25 | 6.3% | — | ||
| Q3 25 | 5.0% | 84.6% | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 5.5% | 79.8% | ||
| Q4 24 | 6.9% | — | ||
| Q3 24 | 4.9% | 67.3% | ||
| Q2 24 | 5.3% | 50.1% |
现金转化率SCLVNET
| Q1 26 | — | — | ||
| Q4 25 | 11.99× | — | ||
| Q3 25 | 6.44× | — | ||
| Q2 25 | 0.99× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 20.38× | — | ||
| Q3 24 | 0.96× | — | ||
| Q2 24 | 3.10× | — |
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
SCL
| Surfactants | $453.7M | 75% |
| Polymers | $130.0M | 22% |
| Specialty Products | $20.8M | 3% |
VNET
暂无分部数据
