vs
STARWOOD PROPERTY TRUST, INC.（STWD）与VinFast Auto Ltd.（VFS）财务数据对比。点击上方公司名可切换其他公司
VinFast Auto Ltd.的季度营收约是STARWOOD PROPERTY TRUST, INC.的1.5倍（$718.6M vs $492.9M），STARWOOD PROPERTY TRUST, INC.净利率更高（19.7% vs -2.8%，领先22.4%）
喜达屋酒店及度假村国际集团是全球规模最大的酒店企业之一，业务涵盖酒店、度假村、水疗中心、住宅及度假产权物业的持有、运营、特许经营与管理。集团前身为1969年成立的房地产投资信托基金，1995年完成收购重组，旗下共11个品牌，管理及特许经营的物业共计1297处。
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
STWD vs VFS — 直观对比
营收规模更大
VFS
是对方的1.5倍
$492.9M
净利率更高
STWD
高出22.4%
-2.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $492.9M | $718.6M |
| 净利润 | $96.9M | $-20.0M |
| 毛利率 | — | — |
| 营业利润率 | 26.6% | -96.1% |
| 净利率 | 19.7% | -2.8% |
| 营收同比 | 8.5% | — |
| 净利润同比 | 87.7% | — |
| 每股收益（稀释后） | $0.25 | — |
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STWDVFS
| Q4 25 | $492.9M | — | ||
| Q3 25 | $488.9M | $718.6M | ||
| Q2 25 | $444.3M | $663.0M | ||
| Q1 25 | $418.2M | $656.5M | ||
| Q4 24 | $454.4M | — | ||
| Q3 24 | $479.5M | $511.6M | ||
| Q2 24 | $489.8M | — | ||
| Q1 24 | $523.1M | $302.6M |
净利润STWDVFS
| Q4 25 | $96.9M | — | ||
| Q3 25 | $72.6M | $-20.0M | ||
| Q2 25 | $129.8M | $-51.8M | ||
| Q1 25 | $112.3M | $-26.1M | ||
| Q4 24 | $51.6M | — | ||
| Q3 24 | $76.1M | $-10.4M | ||
| Q2 24 | $77.9M | — | ||
| Q1 24 | $154.3M | $-618.3M |
营业利润率STWDVFS
| Q4 25 | 26.6% | — | ||
| Q3 25 | 19.1% | -96.1% | ||
| Q2 25 | 30.5% | -79.0% | ||
| Q1 25 | 28.7% | -74.0% | ||
| Q4 24 | 15.1% | — | ||
| Q3 24 | 17.2% | -65.9% | ||
| Q2 24 | 19.1% | — | ||
| Q1 24 | 30.8% | -139.4% |
净利率STWDVFS
| Q4 25 | 19.7% | — | ||
| Q3 25 | 14.8% | -2.8% | ||
| Q2 25 | 29.2% | -7.8% | ||
| Q1 25 | 26.8% | -4.0% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 15.9% | -2.0% | ||
| Q2 24 | 15.9% | — | ||
| Q1 24 | 29.5% | -204.3% |
每股收益（稀释后）STWDVFS
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.19 | — | ||
| Q2 25 | $0.38 | — | ||
| Q1 25 | $0.33 | — | ||
| Q4 24 | $0.15 | — | ||
| Q3 24 | $0.23 | — | ||
| Q2 24 | $0.24 | — | ||
| Q1 24 | $0.48 | — |
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 | $499.5M | $8.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.8B | — |
| 总资产 | $63.2B | $183.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资STWDVFS
| Q4 25 | $499.5M | — | ||
| Q3 25 | $301.1M | $8.8M | ||
| Q2 25 | $259.9M | $650.0M | ||
| Q1 25 | $440.6M | $2.4M | ||
| Q4 24 | $377.8M | — | ||
| Q3 24 | $357.9M | $1.9M | ||
| Q2 24 | $259.3M | — | ||
| Q1 24 | $327.4M | $3.0M |
股东权益STWDVFS
| Q4 25 | $6.8B | — | ||
| Q3 25 | $6.9B | — | ||
| Q2 25 | $6.4B | $-7.2B | ||
| Q1 25 | $6.4B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.5B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.3B | — |
总资产STWDVFS
| Q4 25 | $63.2B | — | ||
| Q3 25 | $62.4B | $183.2M | ||
| Q2 25 | $62.4B | $7.2B | ||
| Q1 25 | $62.2B | $158.2M | ||
| Q4 24 | $62.6B | — | ||
| Q3 24 | $64.2B | $151.8M | ||
| Q2 24 | $64.1B | — | ||
| Q1 24 | $66.2B | $145.6M |
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 | $488.8M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 5.04× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流STWDVFS
| Q4 25 | $488.8M | — | ||
| Q3 25 | $337.6M | — | ||
| Q2 25 | $-87.4M | — | ||
| Q1 25 | $238.9M | — | ||
| Q4 24 | $295.6M | — | ||
| Q3 24 | $241.8M | — | ||
| Q2 24 | $53.3M | — | ||
| Q1 24 | $55.9M | — |
现金转化率STWDVFS
| Q4 25 | 5.04× | — | ||
| Q3 25 | 4.65× | — | ||
| Q2 25 | -0.67× | — | ||
| Q1 25 | 2.13× | — | ||
| Q4 24 | 5.72× | — | ||
| Q3 24 | 3.18× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 0.36× | — |
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
STWD
| Commercial And Residential Lending Segment | $335.2M | 68% |
| Infrastructure Lending Segment | $70.3M | 14% |
| Property Segment | $57.8M | 12% |
| Other | $29.7M | 6% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
