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SLM Corp（SLM）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
SLM Corp的季度营收约是世纪互联的1.5倍（$560.0M vs $362.7M），SLM Corp净利率更高（55.0% vs -10.7%，领先65.7%），过去两年SLM Corp的营收复合增速更高（22.7% vs 17.4%）
尼康旗下SLM Solutions AG总部位于德国吕贝克，是金属3D打印机领域的上市生产商，共同拥有SLM文字商标，集团股份自2014年5月9日起在法兰克福证券交易所高级市场板块挂牌交易。
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。
SLM vs VNET — 直观对比
营收规模更大
SLM
是对方的1.5倍
$362.7M
净利率更高
SLM
高出65.7%
-10.7%
两年增速更快
SLM
近两年复合增速
17.4%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $560.0M | $362.7M |
| 净利润 | $308.0M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 69.6% | 0.5% |
| 净利率 | 55.0% | -10.7% |
| 营收同比 | — | — |
| 净利润同比 | 1.0% | — |
| 每股收益（稀释后） | $1.54 | — |
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SLMVNET
| Q1 26 | $560.0M | — | ||
| Q4 25 | $377.1M | — | ||
| Q3 25 | $373.0M | $362.7M | ||
| Q2 25 | $376.8M | — | ||
| Q1 25 | $375.0M | $309.5M | ||
| Q4 24 | $362.2M | — | ||
| Q3 24 | $359.4M | $302.2M | ||
| Q2 24 | $372.2M | $274.4M |
净利润SLMVNET
| Q1 26 | $308.0M | — | ||
| Q4 25 | $233.2M | — | ||
| Q3 25 | $135.8M | $-38.7M | ||
| Q2 25 | $71.3M | — | ||
| Q1 25 | $304.5M | $-2.4M | ||
| Q4 24 | $111.6M | — | ||
| Q3 24 | $-45.2M | $-2.1M | ||
| Q2 24 | $252.0M | $-1.1M |
毛利率SLMVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率SLMVNET
| Q1 26 | 69.6% | — | ||
| Q4 25 | 83.8% | — | ||
| Q3 25 | 49.8% | 0.5% | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 36.5% | — | ||
| Q3 24 | -16.6% | 24.5% | ||
| Q2 24 | 91.0% | 0.2% |
净利率SLMVNET
| Q1 26 | 55.0% | — | ||
| Q4 25 | 61.8% | — | ||
| Q3 25 | 36.4% | -10.7% | ||
| Q2 25 | 18.9% | — | ||
| Q1 25 | 81.2% | -0.8% | ||
| Q4 24 | 30.8% | — | ||
| Q3 24 | -12.6% | -0.7% | ||
| Q2 24 | 67.7% | -0.4% |
每股收益（稀释后）SLMVNET
| Q1 26 | $1.54 | — | ||
| Q4 25 | $1.11 | — | ||
| Q3 25 | $0.63 | — | ||
| Q2 25 | $0.32 | — | ||
| Q1 25 | $1.40 | — | ||
| Q4 24 | $0.53 | — | ||
| Q3 24 | $-0.23 | — | ||
| Q2 24 | $1.11 | — |
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 | $5.2B | $492.1M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $2.4B | $890.8M |
| 总资产 | $29.4B | $6.1B |
| 负债/权益比越低杠杆越低 | 2.53× | — |
8季度趋势，按日历期对齐
现金及短期投资SLMVNET
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.2B | — | ||
| Q3 25 | $3.5B | $492.1M | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $3.7B | $544.3M | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | $4.5B | $219.5M | ||
| Q2 24 | $5.3B | $247.2M |
总债务SLMVNET
| Q1 26 | $6.2B | — | ||
| Q4 25 | $5.4B | — | ||
| Q3 25 | $6.8B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.1B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.0B | $1.2B | ||
| Q2 24 | $5.4B | — |
股东权益SLMVNET
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.3B | $890.8M | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | $927.8M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.1B | $902.9M | ||
| Q2 24 | $2.3B | $900.6M |
总资产SLMVNET
| Q1 26 | $29.4B | — | ||
| Q4 25 | $29.7B | — | ||
| Q3 25 | $29.6B | $6.1B | ||
| Q2 25 | $29.6B | — | ||
| Q1 25 | $28.9B | $5.4B | ||
| Q4 24 | $30.1B | — | ||
| Q3 24 | $30.0B | $4.3B | ||
| Q2 24 | $28.8B | $4.0B |
负债/权益比SLMVNET
| Q1 26 | 2.53× | — | ||
| Q4 25 | 2.19× | — | ||
| Q3 25 | 2.92× | — | ||
| Q2 25 | 2.70× | — | ||
| Q1 25 | 2.56× | — | ||
| Q4 24 | 2.98× | — | ||
| Q3 24 | 2.83× | 1.28× | ||
| Q2 24 | 2.37× | — |
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SLMVNET
| Q1 26 | — | — | ||
| Q4 25 | $-64.5M | — | ||
| Q3 25 | $-49.3M | $113.8M | ||
| Q2 25 | $-138.7M | — | ||
| Q1 25 | $-146.1M | $27.0M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $-113.4M | $108.3M | ||
| Q2 24 | $-143.8M | $55.8M |
自由现金流SLMVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-220.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-95.0M | ||
| Q2 24 | — | $-81.6M |
自由现金流率SLMVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -71.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -31.4% | ||
| Q2 24 | — | -29.8% |
资本支出强度SLMVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 79.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | — | 50.1% |
现金转化率SLMVNET
| Q1 26 | — | — | ||
| Q4 25 | -0.28× | — | ||
| Q3 25 | -0.36× | — | ||
| Q2 25 | -1.95× | — | ||
| Q1 25 | -0.48× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.57× | — |
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
SLM
| Net Interest Income | $375.0M | 67% |
| Noninterest Income | $185.0M | 33% |
VNET
暂无分部数据
