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TRUPANION, INC.（TRUP）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
TRUPANION, INC.的季度营收约是世纪互联的1.0倍（$376.9M vs $362.7M），TRUPANION, INC.自由现金流更多（$25.3M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 11.0%）
Trupanion是总部位于美国华盛顿州西雅图的宠物保险服务商，创立于1999年，业务覆盖美国、加拿大、澳大利亚与波多黎各地区。该公司为宠物提供保险保障服务，所有保单由旗下美国宠物保险公司（APIC）独家承保。
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。
TRUP vs VNET — 直观对比
营收规模更大
TRUP
是对方的1.0倍
$362.7M
自由现金流更多
TRUP
多$218.4M
$-193.1M
两年增速更快
VNET
近两年复合增速
11.0%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $376.9M | $362.7M |
| 净利润 | — | $-38.7M |
| 毛利率 | 17.3% | 20.9% |
| 营业利润率 | 1.9% | 0.5% |
| 净利率 | — | -10.7% |
| 营收同比 | 11.7% | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.13 | — |
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TRUPVNET
| Q4 25 | $376.9M | — | ||
| Q3 25 | $366.9M | $362.7M | ||
| Q2 25 | $353.6M | — | ||
| Q1 25 | $342.0M | $309.5M | ||
| Q4 24 | $337.3M | — | ||
| Q3 24 | $327.5M | $302.2M | ||
| Q2 24 | $314.8M | $274.4M | ||
| Q1 24 | $306.1M | $262.9M |
净利润TRUPVNET
| Q4 25 | — | — | ||
| Q3 25 | — | $-38.7M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-2.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-2.1M | ||
| Q2 24 | — | $-1.1M | ||
| Q1 24 | — | $-22.0M |
毛利率TRUPVNET
| Q4 25 | 17.3% | — | ||
| Q3 25 | 16.4% | 20.9% | ||
| Q2 25 | 15.5% | — | ||
| Q1 25 | 14.9% | 25.2% | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 15.1% | 23.2% | ||
| Q2 24 | 12.8% | 21.3% | ||
| Q1 24 | 11.8% | 21.6% |
营业利润率TRUPVNET
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.6% | 0.5% | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | -0.4% | 0.1% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.5% | 24.5% | ||
| Q2 24 | -1.7% | 0.2% | ||
| Q1 24 | -2.0% | 0.2% |
净利率TRUPVNET
| Q4 25 | — | — | ||
| Q3 25 | — | -10.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.7% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | — | -8.4% |
每股收益（稀释后）TRUPVNET
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.13 | — | ||
| Q2 25 | $0.22 | — | ||
| Q1 25 | $-0.03 | — | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $0.03 | — | ||
| Q2 24 | $-0.14 | — | ||
| Q1 24 | $-0.16 | — |
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 | $370.7M | $492.1M |
| 总债务越低越好 | $101.8M | — |
| 股东权益账面价值 | $383.9M | $890.8M |
| 总资产 | $915.0M | $6.1B |
| 负债/权益比越低杠杆越低 | 0.27× | — |
8季度趋势，按日历期对齐
现金及短期投资TRUPVNET
| Q4 25 | $370.7M | — | ||
| Q3 25 | $348.5M | $492.1M | ||
| Q2 25 | $319.6M | — | ||
| Q1 25 | $321.8M | $544.3M | ||
| Q4 24 | $307.4M | — | ||
| Q3 24 | $293.1M | $219.5M | ||
| Q2 24 | $277.2M | $247.2M | ||
| Q1 24 | $275.2M | $246.9M |
总债务TRUPVNET
| Q4 25 | $101.8M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $127.5M | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益TRUPVNET
| Q4 25 | $383.9M | — | ||
| Q3 25 | $368.6M | $890.8M | ||
| Q2 25 | $355.5M | — | ||
| Q1 25 | $333.7M | $927.8M | ||
| Q4 24 | $323.3M | — | ||
| Q3 24 | $320.2M | $902.9M | ||
| Q2 24 | $305.8M | $900.6M | ||
| Q1 24 | $303.4M | $895.1M |
总资产TRUPVNET
| Q4 25 | $915.0M | — | ||
| Q3 25 | $880.2M | $6.1B | ||
| Q2 25 | $847.8M | — | ||
| Q1 25 | $837.2M | $5.4B | ||
| Q4 24 | $806.9M | — | ||
| Q3 24 | $816.1M | $4.3B | ||
| Q2 24 | $795.9M | $4.0B | ||
| Q1 24 | $789.5M | $3.9B |
负债/权益比TRUPVNET
| Q4 25 | 0.27× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.39× | — | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $29.3M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $25.3M | $-193.1M |
| 自由现金流率自由现金流/营收 | 6.7% | -53.2% |
| 资本支出强度资本支出/营收 | 1.0% | 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 | $75.4M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流TRUPVNET
| Q4 25 | $29.3M | — | ||
| Q3 25 | $29.2M | $113.8M | ||
| Q2 25 | $15.0M | — | ||
| Q1 25 | $16.0M | $27.0M | ||
| Q4 24 | $23.7M | — | ||
| Q3 24 | $15.3M | $108.3M | ||
| Q2 24 | $6.9M | $55.8M | ||
| Q1 24 | $2.4M | $37.1M |
自由现金流TRUPVNET
| Q4 25 | $25.3M | — | ||
| Q3 25 | $23.9M | $-193.1M | ||
| Q2 25 | $12.0M | — | ||
| Q1 25 | $14.0M | $-220.0M | ||
| Q4 24 | $21.8M | — | ||
| Q3 24 | $13.4M | $-95.0M | ||
| Q2 24 | $4.0M | $-81.6M | ||
| Q1 24 | $-631.0K | $-102.2M |
自由现金流率TRUPVNET
| Q4 25 | 6.7% | — | ||
| Q3 25 | 6.5% | -53.2% | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 4.1% | -71.1% | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 4.1% | -31.4% | ||
| Q2 24 | 1.3% | -29.8% | ||
| Q1 24 | -0.2% | -38.9% |
资本支出强度TRUPVNET
| Q4 25 | 1.0% | — | ||
| Q3 25 | 1.4% | 84.6% | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.6% | 79.8% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.6% | 67.3% | ||
| Q2 24 | 0.9% | 50.1% | ||
| Q1 24 | 1.0% | 53.0% |
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
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
VNET
暂无分部数据
