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Thryv Holdings, Inc.（THRY）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Thryv Holdings, Inc.的1.9倍（$362.7M vs $191.6M），Thryv Holdings, Inc.净利率更高（-5.0% vs -10.7%，领先5.6%），Thryv Holdings, Inc.自由现金流更多（$12.3M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -9.4%）
Thryv Holdings, Inc.是一家上市软件服务（SaaS）企业，面向中小企业提供客户关系管理与网络声誉管理软件解决方案。公司总部位于得克萨斯州达拉斯，业务覆盖美国48个州，现有员工超过2400名，其前身是多家黄页企业组成的集团。
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。
THRY vs VNET — 直观对比
营收规模更大
VNET
是对方的1.9倍
$191.6M
净利率更高
THRY
高出5.6%
-10.7%
自由现金流更多
THRY
多$205.4M
$-193.1M
两年增速更快
VNET
近两年复合增速
-9.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $191.6M | $362.7M |
| 净利润 | $-9.7M | $-38.7M |
| 毛利率 | 68.0% | 20.9% |
| 营业利润率 | 5.3% | 0.5% |
| 净利率 | -5.0% | -10.7% |
| 营收同比 | 2.7% | — |
| 净利润同比 | -222.5% | — |
| 每股收益（稀释后） | $-0.21 | — |
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THRYVNET
| Q4 25 | $191.6M | — | ||
| Q3 25 | $201.6M | $362.7M | ||
| Q2 25 | $210.5M | — | ||
| Q1 25 | $181.4M | $309.5M | ||
| Q4 24 | $186.6M | — | ||
| Q3 24 | $179.9M | $302.2M | ||
| Q2 24 | $224.1M | $274.4M | ||
| Q1 24 | $233.6M | $262.9M |
净利润THRYVNET
| Q4 25 | $-9.7M | — | ||
| Q3 25 | $5.7M | $-38.7M | ||
| Q2 25 | $13.9M | — | ||
| Q1 25 | $-9.6M | $-2.4M | ||
| Q4 24 | $7.9M | — | ||
| Q3 24 | $-96.1M | $-2.1M | ||
| Q2 24 | $5.5M | $-1.1M | ||
| Q1 24 | $8.4M | $-22.0M |
毛利率THRYVNET
| Q4 25 | 68.0% | — | ||
| Q3 25 | 67.7% | 20.9% | ||
| Q2 25 | 69.7% | — | ||
| Q1 25 | 65.8% | 25.2% | ||
| Q4 24 | 65.9% | — | ||
| Q3 24 | 62.3% | 23.2% | ||
| Q2 24 | 66.3% | 21.3% | ||
| Q1 24 | 65.8% | 21.6% |
营业利润率THRYVNET
| Q4 25 | 5.3% | — | ||
| Q3 25 | 9.9% | 0.5% | ||
| Q2 25 | 14.0% | — | ||
| Q1 25 | -1.7% | 0.1% | ||
| Q4 24 | -3.9% | — | ||
| Q3 24 | -49.2% | 24.5% | ||
| Q2 24 | 14.0% | 0.2% | ||
| Q1 24 | 13.3% | 0.2% |
净利率THRYVNET
| Q4 25 | -5.0% | — | ||
| Q3 25 | 2.8% | -10.7% | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | -5.3% | -0.8% | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | -53.4% | -0.7% | ||
| Q2 24 | 2.5% | -0.4% | ||
| Q1 24 | 3.6% | -8.4% |
每股收益（稀释后）THRYVNET
| Q4 25 | $-0.21 | — | ||
| Q3 25 | $0.13 | — | ||
| Q2 25 | $0.31 | — | ||
| Q1 25 | $-0.22 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $-2.65 | — | ||
| Q2 24 | $0.15 | — | ||
| Q1 24 | $0.22 | — |
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 | $10.8M | $492.1M |
| 总债务越低越好 | $253.5M | — |
| 股东权益账面价值 | $218.1M | $890.8M |
| 总资产 | $688.6M | $6.1B |
| 负债/权益比越低杠杆越低 | 1.16× | — |
8季度趋势，按日历期对齐
现金及短期投资THRYVNET
| Q4 25 | $10.8M | — | ||
| Q3 25 | $11.6M | $492.1M | ||
| Q2 25 | $10.8M | — | ||
| Q1 25 | $11.0M | $544.3M | ||
| Q4 24 | $16.3M | — | ||
| Q3 24 | $12.5M | $219.5M | ||
| Q2 24 | $15.5M | $247.2M | ||
| Q1 24 | $14.4M | $246.9M |
总债务THRYVNET
| Q4 25 | $253.5M | — | ||
| Q3 25 | $268.2M | — | ||
| Q2 25 | $275.6M | — | ||
| Q1 25 | $299.0M | — | ||
| Q4 24 | $284.3M | — | ||
| Q3 24 | $307.8M | $1.2B | ||
| Q2 24 | $342.1M | — | ||
| Q1 24 | $347.6M | — |
股东权益THRYVNET
| Q4 25 | $218.1M | — | ||
| Q3 25 | $221.1M | $890.8M | ||
| Q2 25 | $214.9M | — | ||
| Q1 25 | $193.2M | $927.8M | ||
| Q4 24 | $196.9M | — | ||
| Q3 24 | $94.5M | $902.9M | ||
| Q2 24 | $183.1M | $900.6M | ||
| Q1 24 | $167.1M | $895.1M |
总资产THRYVNET
| Q4 25 | $688.6M | — | ||
| Q3 25 | $701.8M | $6.1B | ||
| Q2 25 | $687.7M | — | ||
| Q1 25 | $703.7M | $5.4B | ||
| Q4 24 | $712.2M | — | ||
| Q3 24 | $654.8M | $4.3B | ||
| Q2 24 | $785.5M | $4.0B | ||
| Q1 24 | $786.8M | $3.9B |
负债/权益比THRYVNET
| Q4 25 | 1.16× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 1.55× | — | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | 3.26× | 1.28× | ||
| Q2 24 | 1.87× | — | ||
| Q1 24 | 2.08× | — |
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 | $22.2M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $12.3M | $-193.1M |
| 自由现金流率自由现金流/营收 | 6.4% | -53.2% |
| 资本支出强度资本支出/营收 | 5.2% | 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 | $31.1M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流THRYVNET
| Q4 25 | $22.2M | — | ||
| Q3 25 | $22.2M | $113.8M | ||
| Q2 25 | $29.6M | — | ||
| Q1 25 | $-10.5M | $27.0M | ||
| Q4 24 | $26.1M | — | ||
| Q3 24 | $36.0M | $108.3M | ||
| Q2 24 | $22.2M | $55.8M | ||
| Q1 24 | $5.4M | $37.1M |
自由现金流THRYVNET
| Q4 25 | $12.3M | — | ||
| Q3 25 | $14.6M | $-193.1M | ||
| Q2 25 | $21.8M | — | ||
| Q1 25 | $-17.6M | $-220.0M | ||
| Q4 24 | $17.3M | — | ||
| Q3 24 | $27.5M | $-95.0M | ||
| Q2 24 | $13.3M | $-81.6M | ||
| Q1 24 | $-1.8M | $-102.2M |
自由现金流率THRYVNET
| Q4 25 | 6.4% | — | ||
| Q3 25 | 7.2% | -53.2% | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | -9.7% | -71.1% | ||
| Q4 24 | 9.3% | — | ||
| Q3 24 | 15.3% | -31.4% | ||
| Q2 24 | 5.9% | -29.8% | ||
| Q1 24 | -0.8% | -38.9% |
资本支出强度THRYVNET
| Q4 25 | 5.2% | — | ||
| Q3 25 | 3.8% | 84.6% | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 3.9% | 79.8% | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 4.7% | 67.3% | ||
| Q2 24 | 4.0% | 50.1% | ||
| Q1 24 | 3.1% | 53.0% |
现金转化率THRYVNET
| Q4 25 | — | — | ||
| Q3 25 | 3.93× | — | ||
| Q2 25 | 2.12× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.32× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 4.01× | — | ||
| Q1 24 | 0.65× | — |
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
THRY
| Software As A Service | $119.0M | 62% |
| $56.2M | 29% | |
| Digital | $16.4M | 9% |
VNET
暂无分部数据
