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TIC Solutions, Inc.（TIC）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
TIC Solutions, Inc.的季度营收约是世纪互联的1.4倍（$508.3M vs $362.7M），TIC Solutions, Inc.净利率更高（-9.3% vs -10.7%，领先1.4%），TIC Solutions, Inc.自由现金流更多（$37.1M vs $-193.1M）
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。
TIC vs VNET — 直观对比
营收规模更大
TIC
是对方的1.4倍
$362.7M
净利率更高
TIC
高出1.4%
-10.7%
自由现金流更多
TIC
多$230.2M
$-193.1M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $508.3M | $362.7M |
| 净利润 | $-47.2M | $-38.7M |
| 毛利率 | 35.2% | 20.9% |
| 营业利润率 | -3.8% | 0.5% |
| 净利率 | -9.3% | -10.7% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | — |
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TICVNET
| Q4 25 | $508.3M | — | ||
| Q3 25 | $473.9M | $362.7M | ||
| Q2 25 | $313.9M | — | ||
| Q1 25 | $234.2M | $309.5M | ||
| Q3 24 | — | $302.2M | ||
| Q2 24 | — | $274.4M | ||
| Q1 24 | — | $262.9M | ||
| Q3 23 | — | $258.6M |
净利润TICVNET
| Q4 25 | $-47.2M | — | ||
| Q3 25 | $-13.9M | $-38.7M | ||
| Q2 25 | $-233.0K | — | ||
| Q1 25 | $-25.8M | $-2.4M | ||
| Q3 24 | — | $-2.1M | ||
| Q2 24 | — | $-1.1M | ||
| Q1 24 | — | $-22.0M | ||
| Q3 23 | — | $-5.5M |
毛利率TICVNET
| Q4 25 | 35.2% | — | ||
| Q3 25 | 32.2% | 20.9% | ||
| Q2 25 | 23.6% | — | ||
| Q1 25 | 18.6% | 25.2% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% | ||
| Q3 23 | — | 16.2% |
营业利润率TICVNET
| Q4 25 | -3.8% | — | ||
| Q3 25 | -1.4% | 0.5% | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | -4.0% | 0.1% | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.2% | ||
| Q3 23 | — | 1.7% |
净利率TICVNET
| Q4 25 | -9.3% | — | ||
| Q3 25 | -2.9% | -10.7% | ||
| Q2 25 | -0.1% | — | ||
| Q1 25 | -11.0% | -0.8% | ||
| Q3 24 | — | -0.7% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | — | -8.4% | ||
| Q3 23 | — | -2.1% |
每股收益（稀释后）TICVNET
| Q4 25 | — | — | ||
| Q3 25 | $-0.08 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
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 | $439.5M | $492.1M |
| 总债务越低越好 | $1.6B | — |
| 股东权益账面价值 | $2.2B | $890.8M |
| 总资产 | $4.4B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资TICVNET
| Q4 25 | $439.5M | — | ||
| Q3 25 | $164.4M | $492.1M | ||
| Q2 25 | $130.1M | — | ||
| Q1 25 | $155.7M | $544.3M | ||
| Q3 24 | — | $219.5M | ||
| Q2 24 | — | $247.2M | ||
| Q1 24 | — | $246.9M | ||
| Q3 23 | — | $370.4M |
总债务TICVNET
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $751.3M | — | ||
| Q1 25 | $752.4M | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
股东权益TICVNET
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.0B | $890.8M | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.1B | $927.8M | ||
| Q3 24 | — | $902.9M | ||
| Q2 24 | — | $900.6M | ||
| Q1 24 | — | $895.1M | ||
| Q3 23 | — | $942.7M |
总资产TICVNET
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.2B | $6.1B | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | $5.4B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | — | $3.9B | ||
| Q3 23 | — | $4.1B |
负债/权益比TICVNET
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.67× | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
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 | $49.7M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $37.1M | $-193.1M |
| 自由现金流率自由现金流/营收 | 7.3% | -53.2% |
| 资本支出强度资本支出/营收 | 2.5% | 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 | $61.3M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流TICVNET
| Q4 25 | $49.7M | — | ||
| Q3 25 | $19.0M | $113.8M | ||
| Q2 25 | $-6.5M | — | ||
| Q1 25 | $32.8M | $27.0M | ||
| Q3 24 | — | $108.3M | ||
| Q2 24 | — | $55.8M | ||
| Q1 24 | — | $37.1M | ||
| Q3 23 | — | $62.3M |
自由现金流TICVNET
| Q4 25 | $37.1M | — | ||
| Q3 25 | $10.3M | $-193.1M | ||
| Q2 25 | $-14.5M | — | ||
| Q1 25 | $28.3M | $-220.0M | ||
| Q3 24 | — | $-95.0M | ||
| Q2 24 | — | $-81.6M | ||
| Q1 24 | — | $-102.2M | ||
| Q3 23 | — | $-67.5M |
自由现金流率TICVNET
| Q4 25 | 7.3% | — | ||
| Q3 25 | 2.2% | -53.2% | ||
| Q2 25 | -4.6% | — | ||
| Q1 25 | 12.1% | -71.1% | ||
| Q3 24 | — | -31.4% | ||
| Q2 24 | — | -29.8% | ||
| Q1 24 | — | -38.9% | ||
| Q3 23 | — | -26.1% |
资本支出强度TICVNET
| Q4 25 | 2.5% | — | ||
| Q3 25 | 1.8% | 84.6% | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 1.9% | 79.8% | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | — | 50.1% | ||
| Q1 24 | — | 53.0% | ||
| Q3 23 | — | 50.2% |
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
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
VNET
暂无分部数据
