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Victory Capital Holdings, Inc.（VCTR）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
Victory Capital Holdings, Inc.的季度营收约是世纪互联的1.0倍（$374.1M vs $362.7M），Victory Capital Holdings, Inc.净利率更高（30.2% vs -10.7%，领先40.8%），Victory Capital Holdings, Inc.自由现金流更多（$144.5M vs $-193.1M），过去两年Victory Capital Holdings, Inc.的营收复合增速更高（31.7% vs 17.4%）
Victory Capital Holdings是一家总部位于美国得克萨斯州圣安东尼奥的金融服务企业，核心业务为投资管理。除美国本土外，公司在伦敦、中国香港、新加坡三地均配备了专业投资团队，为全球客户提供资产管理相关服务。
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。
VCTR vs VNET — 直观对比
营收规模更大
VCTR
是对方的1.0倍
$362.7M
净利率更高
VCTR
高出40.8%
-10.7%
自由现金流更多
VCTR
多$337.6M
$-193.1M
两年增速更快
VCTR
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $374.1M | $362.7M |
| 净利润 | $112.8M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 40.9% | 0.5% |
| 净利率 | 30.2% | -10.7% |
| 营收同比 | 61.0% | — |
| 净利润同比 | 46.6% | — |
| 每股收益（稀释后） | $1.33 | — |
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VCTRVNET
| Q4 25 | $374.1M | — | ||
| Q3 25 | $361.2M | $362.7M | ||
| Q2 25 | $351.2M | — | ||
| Q1 25 | $219.6M | $309.5M | ||
| Q4 24 | $232.4M | — | ||
| Q3 24 | $225.6M | $302.2M | ||
| Q2 24 | $219.6M | $274.4M | ||
| Q1 24 | $215.9M | $262.9M |
净利润VCTRVNET
| Q4 25 | $112.8M | — | ||
| Q3 25 | $96.5M | $-38.7M | ||
| Q2 25 | $58.7M | — | ||
| Q1 25 | $62.0M | $-2.4M | ||
| Q4 24 | $76.9M | — | ||
| Q3 24 | $82.0M | $-2.1M | ||
| Q2 24 | $74.3M | $-1.1M | ||
| Q1 24 | $55.7M | $-22.0M |
毛利率VCTRVNET
| 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VCTRVNET
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.2% | 0.5% | ||
| Q2 25 | 26.8% | — | ||
| Q1 25 | 42.3% | 0.1% | ||
| Q4 24 | 48.1% | — | ||
| Q3 24 | 53.3% | 24.5% | ||
| Q2 24 | 50.4% | 0.2% | ||
| Q1 24 | 39.3% | 0.2% |
净利率VCTRVNET
| Q4 25 | 30.2% | — | ||
| Q3 25 | 26.7% | -10.7% | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 28.2% | -0.8% | ||
| Q4 24 | 33.1% | — | ||
| Q3 24 | 36.3% | -0.7% | ||
| Q2 24 | 33.8% | -0.4% | ||
| Q1 24 | 25.8% | -8.4% |
每股收益（稀释后）VCTRVNET
| Q4 25 | $1.33 | — | ||
| Q3 25 | $1.11 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $0.96 | — | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $1.24 | — | ||
| Q2 24 | $1.12 | — | ||
| Q1 24 | $0.84 | — |
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 | $163.7M | $492.1M |
| 总债务越低越好 | $970.0M | — |
| 股东权益账面价值 | $2.4B | $890.8M |
| 总资产 | $4.2B | $6.1B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资VCTRVNET
| Q4 25 | $163.7M | — | ||
| Q3 25 | $115.7M | $492.1M | ||
| Q2 25 | $107.9M | — | ||
| Q1 25 | $175.6M | $544.3M | ||
| Q4 24 | $126.7M | — | ||
| Q3 24 | $188.2M | $219.5M | ||
| Q2 24 | $119.0M | $247.2M | ||
| Q1 24 | $79.9M | $246.9M |
总债务VCTRVNET
| Q4 25 | $970.0M | — | ||
| Q3 25 | $972.0M | — | ||
| Q2 25 | $965.7M | — | ||
| Q1 25 | $964.8M | — | ||
| Q4 24 | $963.9M | — | ||
| Q3 24 | $982.7M | $1.2B | ||
| Q2 24 | $981.7M | — | ||
| Q1 24 | $990.2M | — |
股东权益VCTRVNET
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | $890.8M | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.1B | $927.8M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | $902.9M | ||
| Q2 24 | $1.1B | $900.6M | ||
| Q1 24 | $1.1B | $895.1M |
总资产VCTRVNET
| Q4 25 | $4.2B | — | ||
| Q3 25 | $4.2B | $6.1B | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $2.6B | $5.4B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.6B | $4.3B | ||
| Q2 24 | $2.5B | $4.0B | ||
| Q1 24 | $2.5B | $3.9B |
负债/权益比VCTRVNET
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | 0.84× | — | ||
| Q4 24 | 0.86× | — | ||
| Q3 24 | 0.84× | 1.28× | ||
| Q2 24 | 0.87× | — | ||
| Q1 24 | 0.92× | — |
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 | $145.1M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $144.5M | $-193.1M |
| 自由现金流率自由现金流/营收 | 38.6% | -53.2% |
| 资本支出强度资本支出/营收 | 0.2% | 84.6% |
| 现金转化率经营现金流/净利润 | 1.29× | — |
| 过去12个月自由现金流最近4个季度 | $381.3M | $-589.7M |
8季度趋势，按日历期对齐
经营现金流VCTRVNET
| Q4 25 | $145.1M | — | ||
| Q3 25 | $165.9M | $113.8M | ||
| Q2 25 | $-6.6M | — | ||
| Q1 25 | $81.1M | $27.0M | ||
| Q4 24 | $91.8M | — | ||
| Q3 24 | $99.8M | $108.3M | ||
| Q2 24 | $79.7M | $55.8M | ||
| Q1 24 | $68.7M | $37.1M |
自由现金流VCTRVNET
| Q4 25 | $144.5M | — | ||
| Q3 25 | $164.8M | $-193.1M | ||
| Q2 25 | $-7.5M | — | ||
| Q1 25 | $79.5M | $-220.0M | ||
| Q4 24 | $91.7M | — | ||
| Q3 24 | $99.4M | $-95.0M | ||
| Q2 24 | $79.5M | $-81.6M | ||
| Q1 24 | $68.2M | $-102.2M |
自由现金流率VCTRVNET
| Q4 25 | 38.6% | — | ||
| Q3 25 | 45.6% | -53.2% | ||
| Q2 25 | -2.1% | — | ||
| Q1 25 | 36.2% | -71.1% | ||
| Q4 24 | 39.4% | — | ||
| Q3 24 | 44.0% | -31.4% | ||
| Q2 24 | 36.2% | -29.8% | ||
| Q1 24 | 31.6% | -38.9% |
资本支出强度VCTRVNET
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.3% | 84.6% | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.7% | 79.8% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | 67.3% | ||
| Q2 24 | 0.1% | 50.1% | ||
| Q1 24 | 0.2% | 53.0% |
现金转化率VCTRVNET
| Q4 25 | 1.29× | — | ||
| Q3 25 | 1.72× | — | ||
| Q2 25 | -0.11× | — | ||
| Q1 25 | 1.31× | — | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.07× | — | ||
| Q1 24 | 1.23× | — |
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
VCTR
| Investment Management Fees | $301.4M | 81% |
| Fund Administration And Distribution Fees | $72.8M | 19% |
VNET
暂无分部数据
