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边疆航空（SNCY）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边疆航空的1.3倍（$362.7M vs $281.0M），边疆航空净利率更高（2.9% vs -10.7%，领先13.6%），边疆航空自由现金流更多（$34.9M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -5.0%）
边疆航空是美国主流超低成本航空公司，总部位于科罗拉多州丹佛市。该航司运营飞往美国本土、加勒比地区、墨西哥及中美洲共120余个目的地的航线，员工规模超过5000人，目前为公开上市企业，枢纽基地覆盖丹佛国际机场、奥兰多国际机场，以及美国本土和波多黎各的另外11座城市。
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。
SNCY vs VNET — 直观对比
营收规模更大
VNET
是对方的1.3倍
$281.0M
净利率更高
SNCY
高出13.6%
-10.7%
自由现金流更多
SNCY
多$228.0M
$-193.1M
两年增速更快
VNET
近两年复合增速
-5.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $281.0M | $362.7M |
| 净利润 | $8.1M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 6.5% | 0.5% |
| 净利率 | 2.9% | -10.7% |
| 营收同比 | 7.9% | — |
| 净利润同比 | -39.4% | — |
| 每股收益（稀释后） | $0.15 | — |
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SNCYVNET
| Q4 25 | $281.0M | — | ||
| Q3 25 | $255.5M | $362.7M | ||
| Q2 25 | $263.6M | — | ||
| Q1 25 | $326.6M | $309.5M | ||
| Q4 24 | $260.4M | — | ||
| Q3 24 | $249.5M | $302.2M | ||
| Q2 24 | $254.4M | $274.4M | ||
| Q1 24 | $311.5M | $262.9M |
净利润SNCYVNET
| Q4 25 | $8.1M | — | ||
| Q3 25 | $1.6M | $-38.7M | ||
| Q2 25 | $6.6M | — | ||
| Q1 25 | $36.5M | $-2.4M | ||
| Q4 24 | $13.4M | — | ||
| Q3 24 | $2.3M | $-2.1M | ||
| Q2 24 | $1.8M | $-1.1M | ||
| Q1 24 | $35.3M | $-22.0M |
毛利率SNCYVNET
| 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SNCYVNET
| Q4 25 | 6.5% | — | ||
| Q3 25 | 3.9% | 0.5% | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 17.2% | 0.1% | ||
| Q4 24 | 10.0% | — | ||
| Q3 24 | 5.0% | 24.5% | ||
| Q2 24 | 4.9% | 0.2% | ||
| Q1 24 | 17.7% | 0.2% |
净利率SNCYVNET
| Q4 25 | 2.9% | — | ||
| Q3 25 | 0.6% | -10.7% | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 11.2% | -0.8% | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 0.9% | -0.7% | ||
| Q2 24 | 0.7% | -0.4% | ||
| Q1 24 | 11.3% | -8.4% |
每股收益（稀释后）SNCYVNET
| Q4 25 | $0.15 | — | ||
| Q3 25 | $0.03 | — | ||
| Q2 25 | $0.12 | — | ||
| Q1 25 | $0.66 | — | ||
| Q4 24 | $0.25 | — | ||
| Q3 24 | $0.04 | — | ||
| Q2 24 | $0.03 | — | ||
| Q1 24 | $0.64 | — |
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 | $234.3M | $492.1M |
| 总债务越低越好 | $323.3M | — |
| 股东权益账面价值 | $625.2M | $890.8M |
| 总资产 | $1.7B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.52× | — |
8季度趋势，按日历期对齐
现金及短期投资SNCYVNET
| Q4 25 | $234.3M | — | ||
| Q3 25 | $176.2M | $492.1M | ||
| Q2 25 | $138.3M | — | ||
| Q1 25 | $158.8M | $544.3M | ||
| Q4 24 | $187.3M | — | ||
| Q3 24 | $146.5M | $219.5M | ||
| Q2 24 | $135.2M | $247.2M | ||
| Q1 24 | $161.2M | $246.9M |
总债务SNCYVNET
| Q4 25 | $323.3M | — | ||
| Q3 25 | $301.3M | — | ||
| Q2 25 | $282.1M | — | ||
| Q1 25 | $312.6M | — | ||
| Q4 24 | $327.1M | — | ||
| Q3 24 | $351.8M | $1.2B | ||
| Q2 24 | $365.5M | — | ||
| Q1 24 | $388.1M | — |
股东权益SNCYVNET
| Q4 25 | $625.2M | — | ||
| Q3 25 | $610.2M | $890.8M | ||
| Q2 25 | $613.0M | — | ||
| Q1 25 | $603.0M | $927.8M | ||
| Q4 24 | $570.4M | — | ||
| Q3 24 | $552.5M | $902.9M | ||
| Q2 24 | $546.9M | $900.6M | ||
| Q1 24 | $541.0M | $895.1M |
总资产SNCYVNET
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.6B | $6.1B | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.6B | $5.4B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $4.3B | ||
| Q2 24 | $1.6B | $4.0B | ||
| Q1 24 | $1.6B | $3.9B |
负债/权益比SNCYVNET
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.49× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.57× | — | ||
| Q3 24 | 0.64× | 1.28× | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | 0.72× | — |
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 | $78.9M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $34.9M | $-193.1M |
| 自由现金流率自由现金流/营收 | 12.4% | -53.2% |
| 资本支出强度资本支出/营收 | 15.7% | 84.6% |
| 现金转化率经营现金流/净利润 | 9.69× | — |
| 过去12个月自由现金流最近4个季度 | $84.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流SNCYVNET
| Q4 25 | $78.9M | — | ||
| Q3 25 | $41.9M | $113.8M | ||
| Q2 25 | $19.8M | — | ||
| Q1 25 | $16.4M | $27.0M | ||
| Q4 24 | $90.6M | — | ||
| Q3 24 | $35.4M | $108.3M | ||
| Q2 24 | $8.2M | $55.8M | ||
| Q1 24 | $30.7M | $37.1M |
自由现金流SNCYVNET
| Q4 25 | $34.9M | — | ||
| Q3 25 | $34.0M | $-193.1M | ||
| Q2 25 | $14.0M | — | ||
| Q1 25 | $1.0M | $-220.0M | ||
| Q4 24 | $85.8M | — | ||
| Q3 24 | $31.0M | $-95.0M | ||
| Q2 24 | $-382.0K | $-81.6M | ||
| Q1 24 | $1.0M | $-102.2M |
自由现金流率SNCYVNET
| Q4 25 | 12.4% | — | ||
| Q3 25 | 13.3% | -53.2% | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | 0.3% | -71.1% | ||
| Q4 24 | 33.0% | — | ||
| Q3 24 | 12.4% | -31.4% | ||
| Q2 24 | -0.2% | -29.8% | ||
| Q1 24 | 0.3% | -38.9% |
资本支出强度SNCYVNET
| Q4 25 | 15.7% | — | ||
| Q3 25 | 3.1% | 84.6% | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 4.7% | 79.8% | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 1.8% | 67.3% | ||
| Q2 24 | 3.4% | 50.1% | ||
| Q1 24 | 9.5% | 53.0% |
现金转化率SNCYVNET
| Q4 25 | 9.69× | — | ||
| Q3 25 | 27.03× | — | ||
| Q2 25 | 3.01× | — | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 6.74× | — | ||
| Q3 24 | 15.13× | — | ||
| Q2 24 | 4.50× | — | ||
| Q1 24 | 0.87× | — |
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
SNCY
| Scheduled Service | $95.6M | 34% |
| Ancillary | $69.3M | 25% |
| Charter Service | $56.6M | 20% |
| Cargo And Freight | $48.0M | 17% |
| Service Other | $11.4M | 4% |
VNET
暂无分部数据
