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Gentherm Inc（THRM）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
Gentherm Inc的季度营收约是世纪互联的1.1倍（$382.8M vs $362.7M），Gentherm Inc净利率更高（0.8% vs -10.7%，领先11.4%），Gentherm Inc自由现金流更多（$6.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 3.7%）
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
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。
THRM vs VNET — 直观对比
营收规模更大
THRM
是对方的1.1倍
$362.7M
净利率更高
THRM
高出11.4%
-10.7%
自由现金流更多
THRM
多$199.8M
$-193.1M
两年增速更快
VNET
近两年复合增速
3.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $382.8M | $362.7M |
| 净利润 | $3.0M | $-38.7M |
| 毛利率 | 23.7% | 20.9% |
| 营业利润率 | 4.6% | 0.5% |
| 净利率 | 0.8% | -10.7% |
| 营收同比 | 8.5% | — |
| 净利润同比 | -80.5% | — |
| 每股收益（稀释后） | $0.08 | — |
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THRMVNET
| Q4 25 | $382.8M | — | ||
| Q3 25 | $386.9M | $362.7M | ||
| Q2 25 | $375.1M | — | ||
| Q1 25 | $353.9M | $309.5M | ||
| Q4 24 | $352.9M | — | ||
| Q3 24 | $371.5M | $302.2M | ||
| Q2 24 | $375.7M | $274.4M | ||
| Q1 24 | $356.0M | $262.9M |
净利润THRMVNET
| Q4 25 | $3.0M | — | ||
| Q3 25 | $14.9M | $-38.7M | ||
| Q2 25 | $477.0K | — | ||
| Q1 25 | $-128.0K | $-2.4M | ||
| Q4 24 | $15.3M | — | ||
| Q3 24 | $16.0M | $-2.1M | ||
| Q2 24 | $18.9M | $-1.1M | ||
| Q1 24 | $14.8M | $-22.0M |
毛利率THRMVNET
| Q4 25 | 23.7% | — | ||
| Q3 25 | 24.6% | 20.9% | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 24.4% | 25.2% | ||
| Q4 24 | 24.4% | — | ||
| Q3 24 | 25.5% | 23.2% | ||
| Q2 24 | 25.7% | 21.3% | ||
| Q1 24 | 24.9% | 21.6% |
营业利润率THRMVNET
| Q4 25 | 4.6% | — | ||
| Q3 25 | 6.2% | 0.5% | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 4.8% | 0.1% | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | 8.7% | 24.5% | ||
| Q2 24 | 8.8% | 0.2% | ||
| Q1 24 | 5.1% | 0.2% |
净利率THRMVNET
| Q4 25 | 0.8% | — | ||
| Q3 25 | 3.9% | -10.7% | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | -0.0% | -0.8% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 4.3% | -0.7% | ||
| Q2 24 | 5.0% | -0.4% | ||
| Q1 24 | 4.2% | -8.4% |
每股收益（稀释后）THRMVNET
| Q4 25 | $0.08 | — | ||
| Q3 25 | $0.49 | — | ||
| Q2 25 | $0.02 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.48 | — | ||
| Q3 24 | $0.51 | — | ||
| Q2 24 | $0.60 | — | ||
| Q1 24 | $0.47 | — |
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 | $160.8M | $492.1M |
| 总债务越低越好 | $189.0M | — |
| 股东权益账面价值 | $720.3M | $890.8M |
| 总资产 | $1.4B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.26× | — |
8季度趋势，按日历期对齐
现金及短期投资THRMVNET
| Q4 25 | $160.8M | — | ||
| Q3 25 | $154.3M | $492.1M | ||
| Q2 25 | $128.3M | — | ||
| Q1 25 | $163.1M | $544.3M | ||
| Q4 24 | $134.1M | — | ||
| Q3 24 | $150.6M | $219.5M | ||
| Q2 24 | $123.5M | $247.2M | ||
| Q1 24 | $125.1M | $246.9M |
总债务THRMVNET
| Q4 25 | $189.0M | — | ||
| Q3 25 | $189.0M | — | ||
| Q2 25 | $209.0M | — | ||
| Q1 25 | $262.0M | — | ||
| Q4 24 | $220.1M | — | ||
| Q3 24 | $222.1M | $1.2B | ||
| Q2 24 | $222.1M | — | ||
| Q1 24 | $222.2M | — |
股东权益THRMVNET
| Q4 25 | $720.3M | — | ||
| Q3 25 | $717.9M | $890.8M | ||
| Q2 25 | $699.7M | — | ||
| Q1 25 | $646.5M | $927.8M | ||
| Q4 24 | $616.9M | — | ||
| Q3 24 | $660.7M | $902.9M | ||
| Q2 24 | $640.3M | $900.6M | ||
| Q1 24 | $647.1M | $895.1M |
总资产THRMVNET
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $6.1B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | $5.4B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.3B | $4.3B | ||
| Q2 24 | $1.2B | $4.0B | ||
| Q1 24 | $1.3B | $3.9B |
负债/权益比THRMVNET
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 0.41× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 0.34× | 1.28× | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.34× | — |
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 | $29.0M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $6.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | 1.7% | -53.2% |
| 资本支出强度资本支出/营收 | 5.8% | 84.6% |
| 现金转化率经营现金流/净利润 | 9.70× | — |
| 过去12个月自由现金流最近4个季度 | $61.1M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流THRMVNET
| Q4 25 | $29.0M | — | ||
| Q3 25 | $56.1M | $113.8M | ||
| Q2 25 | $45.0M | — | ||
| Q1 25 | $-13.3M | $27.0M | ||
| Q4 24 | $36.6M | — | ||
| Q3 24 | $46.3M | $108.3M | ||
| Q2 24 | $37.1M | $55.8M | ||
| Q1 24 | $-10.3M | $37.1M |
自由现金流THRMVNET
| Q4 25 | $6.7M | — | ||
| Q3 25 | $46.5M | $-193.1M | ||
| Q2 25 | $36.2M | — | ||
| Q1 25 | $-28.2M | $-220.0M | ||
| Q4 24 | $13.6M | — | ||
| Q3 24 | $26.6M | $-95.0M | ||
| Q2 24 | $17.8M | $-81.6M | ||
| Q1 24 | $-21.6M | $-102.2M |
自由现金流率THRMVNET
| Q4 25 | 1.7% | — | ||
| Q3 25 | 12.0% | -53.2% | ||
| Q2 25 | 9.6% | — | ||
| Q1 25 | -8.0% | -71.1% | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 7.2% | -31.4% | ||
| Q2 24 | 4.7% | -29.8% | ||
| Q1 24 | -6.1% | -38.9% |
资本支出强度THRMVNET
| Q4 25 | 5.8% | — | ||
| Q3 25 | 2.5% | 84.6% | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 4.2% | 79.8% | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 5.3% | 67.3% | ||
| Q2 24 | 5.2% | 50.1% | ||
| Q1 24 | 3.2% | 53.0% |
现金转化率THRMVNET
| Q4 25 | 9.70× | — | ||
| Q3 25 | 3.75× | — | ||
| Q2 25 | 94.43× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.90× | — | ||
| Q2 24 | 1.97× | — | ||
| Q1 24 | -0.70× | — |
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
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
VNET
暂无分部数据
