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USA Compression Partners, LP（USAC）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USA Compression Partners, LP的1.4倍（$362.7M vs $252.5M），USA Compression Partners, LP净利率更高（11.0% vs -10.7%，领先21.7%），USA Compression Partners, LP自由现金流更多（$87.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 4.9%）
USA Compression Partners, LP是一家总部位于美国的天然气压缩服务供应商，服务覆盖油气行业上游、中游及下游领域，提供定制化压缩系统、设备维护与运营支持，助力天然气生产、加工和运输环节高效运转。
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。
USAC vs VNET — 直观对比
营收规模更大
VNET
是对方的1.4倍
$252.5M
净利率更高
USAC
高出21.7%
-10.7%
自由现金流更多
USAC
多$280.8M
$-193.1M
两年增速更快
VNET
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $252.5M | $362.7M |
| 净利润 | $27.8M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 30.3% | 0.5% |
| 净利率 | 11.0% | -10.7% |
| 营收同比 | 2.7% | — |
| 净利润同比 | 9.1% | — |
| 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USACVNET
| Q4 25 | $252.5M | — | ||
| Q3 25 | $250.3M | $362.7M | ||
| Q2 25 | $250.1M | — | ||
| Q1 25 | $245.2M | $309.5M | ||
| Q4 24 | $245.9M | — | ||
| Q3 24 | $240.0M | $302.2M | ||
| Q2 24 | $235.3M | $274.4M | ||
| Q1 24 | $229.3M | $262.9M |
净利润USACVNET
| Q4 25 | $27.8M | — | ||
| Q3 25 | $34.5M | $-38.7M | ||
| Q2 25 | $28.6M | — | ||
| Q1 25 | $20.5M | $-2.4M | ||
| Q4 24 | $25.4M | — | ||
| Q3 24 | $19.3M | $-2.1M | ||
| Q2 24 | $31.2M | $-1.1M | ||
| Q1 24 | $23.6M | $-22.0M |
毛利率USACVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率USACVNET
| Q4 25 | 30.3% | — | ||
| Q3 25 | 33.5% | 0.5% | ||
| Q2 25 | 30.6% | — | ||
| Q1 25 | 28.3% | 0.1% | ||
| Q4 24 | 30.3% | — | ||
| Q3 24 | 31.5% | 24.5% | ||
| Q2 24 | 32.9% | 0.2% | ||
| Q1 24 | 29.2% | 0.2% |
净利率USACVNET
| Q4 25 | 11.0% | — | ||
| Q3 25 | 13.8% | -10.7% | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 8.4% | -0.8% | ||
| Q4 24 | 10.3% | — | ||
| Q3 24 | 8.1% | -0.7% | ||
| Q2 24 | 13.3% | -0.4% | ||
| Q1 24 | 10.3% | -8.4% |
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 | $8.6M | $492.1M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | — | $890.8M |
| 总资产 | $2.6B | $6.1B |
| 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USACVNET
| Q4 25 | $8.6M | — | ||
| Q3 25 | — | $492.1M | ||
| Q2 25 | $2.0K | — | ||
| Q1 25 | $2.0K | $544.3M | ||
| Q4 24 | $14.0K | — | ||
| Q3 24 | $79.0K | $219.5M | ||
| Q2 24 | $9.0K | $247.2M | ||
| Q1 24 | $8.0K | $246.9M |
总债务USACVNET
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $2.5B | — | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | $1.2B | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.5B | — |
股东权益USACVNET
| Q4 25 | — | — | ||
| Q3 25 | — | $890.8M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $927.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $902.9M | ||
| Q2 24 | — | $900.6M | ||
| Q1 24 | — | $895.1M |
总资产USACVNET
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.7B | $6.1B | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.7B | $5.4B | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.8B | $4.3B | ||
| Q2 24 | $2.8B | $4.0B | ||
| Q1 24 | $2.8B | $3.9B |
负债/权益比USACVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $139.5M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $87.7M | $-193.1M |
| 自由现金流率自由现金流/营收 | 34.8% | -53.2% |
| 资本支出强度资本支出/营收 | 20.5% | 84.6% |
| 现金转化率经营现金流/净利润 | 5.02× | — |
| 过去12个月自由现金流最近4个季度 | $277.0M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流USACVNET
| Q4 25 | $139.5M | — | ||
| Q3 25 | $75.9M | $113.8M | ||
| Q2 25 | $124.2M | — | ||
| Q1 25 | $54.7M | $27.0M | ||
| Q4 24 | $130.2M | — | ||
| Q3 24 | $48.5M | $108.3M | ||
| Q2 24 | $96.7M | $55.8M | ||
| Q1 24 | $65.9M | $37.1M |
自由现金流USACVNET
| Q4 25 | $87.7M | — | ||
| Q3 25 | $51.9M | $-193.1M | ||
| Q2 25 | $101.1M | — | ||
| Q1 25 | $36.3M | $-220.0M | ||
| Q4 24 | $101.2M | — | ||
| Q3 24 | $19.8M | $-95.0M | ||
| Q2 24 | $48.2M | $-81.6M | ||
| Q1 24 | $-32.7M | $-102.2M |
自由现金流率USACVNET
| Q4 25 | 34.8% | — | ||
| Q3 25 | 20.7% | -53.2% | ||
| Q2 25 | 40.4% | — | ||
| Q1 25 | 14.8% | -71.1% | ||
| Q4 24 | 41.1% | — | ||
| Q3 24 | 8.2% | -31.4% | ||
| Q2 24 | 20.5% | -29.8% | ||
| Q1 24 | -14.3% | -38.9% |
资本支出强度USACVNET
| Q4 25 | 20.5% | — | ||
| Q3 25 | 9.6% | 84.6% | ||
| Q2 25 | 9.3% | — | ||
| Q1 25 | 7.5% | 79.8% | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 12.0% | 67.3% | ||
| Q2 24 | 20.6% | 50.1% | ||
| Q1 24 | 43.0% | 53.0% |
现金转化率USACVNET
| Q4 25 | 5.02× | — | ||
| Q3 25 | 2.20× | — | ||
| Q2 25 | 4.35× | — | ||
| Q1 25 | 2.66× | — | ||
| Q4 24 | 5.12× | — | ||
| Q3 24 | 2.51× | — | ||
| Q2 24 | 3.10× | — | ||
| Q1 24 | 2.80× | — |
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
USAC
| Revenue From Contract Operations Excluding Revenue From Related Party | $231.7M | 92% |
| Entities Affiliated With Energy Transfer LP | $16.6M | 7% |
| Transferred At Point In Time | $5.4M | 2% |
VNET
暂无分部数据
