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VEECO INSTRUMENTS INC（VECO）与Velo3D, Inc.（VELO）财务数据对比。点击上方公司名可切换其他公司
VEECO INSTRUMENTS INC的季度营收约是Velo3D, Inc.的17.5倍（$165.0M vs $9.4M）。VEECO INSTRUMENTS INC净利率更高（0.7% vs -231.9%，领先232.6%）。VEECO INSTRUMENTS INC同比增速更快（-9.4% vs -25.2%）。VEECO INSTRUMENTS INC自由现金流更多（$21.7M vs $-8.3M）。过去两年Velo3D, Inc.的营收复合增速更高（-1.8% vs -2.8%）
维易科仪器公司是全球领先的资本设备供应商，总部位于美国，专注于设计和制造半导体及化合物半导体制造、数据存储、科研领域使用的工艺系统，产品广泛应用于先进封装、光子学、电力电子和显示技术等前沿领域。
Velo3D是全球领先的金属3D打印解决方案提供商，主营工业级金属3D打印机、配套专用加工软件及高性能金属材料，主要服务航空航天、国防、能源、半导体等高端制造领域，可生产传统工艺难以实现的复杂高精度金属零部件。
VECO vs VELO — 直观对比
营收规模更大
VECO
是对方的17.5倍
$9.4M
营收增速更快
VECO
高出15.8%
-25.2%
净利率更高
VECO
高出232.6%
-231.9%
自由现金流更多
VECO
多$30.0M
$-8.3M
两年增速更快
VELO
近两年复合增速
-2.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $165.0M | $9.4M |
| 净利润 | $1.1M | $-21.9M |
| 毛利率 | 36.7% | -73.6% |
| 营业利润率 | -0.8% | -231.0% |
| 净利率 | 0.7% | -231.9% |
| 营收同比 | -9.4% | -25.2% |
| 净利润同比 | -92.6% | -2.9% |
| 每股收益（稀释后） | $0.02 | $-0.87 |
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VECOVELO
| Q4 25 | $165.0M | $9.4M | ||
| Q3 25 | $165.9M | $13.6M | ||
| Q2 25 | $166.1M | $13.6M | ||
| Q1 25 | $167.3M | $9.3M | ||
| Q4 24 | $182.1M | $12.6M | ||
| Q3 24 | $184.8M | $8.2M | ||
| Q2 24 | $175.9M | $10.3M | ||
| Q1 24 | $174.5M | $9.8M |
净利润VECOVELO
| Q4 25 | $1.1M | $-21.9M | ||
| Q3 25 | $10.6M | $-11.2M | ||
| Q2 25 | $11.7M | $-13.3M | ||
| Q1 25 | $11.9M | $-25.0M | ||
| Q4 24 | $15.0M | $-21.3M | ||
| Q3 24 | $22.0M | $-21.9M | ||
| Q2 24 | $14.9M | $935.0K | ||
| Q1 24 | $21.9M | $-27.5M |
毛利率VECOVELO
| Q4 25 | 36.7% | -73.6% | ||
| Q3 25 | 40.8% | 3.2% | ||
| Q2 25 | 41.4% | -11.7% | ||
| Q1 25 | 40.9% | 7.5% | ||
| Q4 24 | 40.6% | -3.5% | ||
| Q3 24 | 42.9% | 49.4% | ||
| Q2 24 | 42.9% | -28.0% | ||
| Q1 24 | 43.2% | -28.8% |
营业利润率VECOVELO
| Q4 25 | -0.8% | -231.0% | ||
| Q3 25 | 6.4% | -73.3% | ||
| Q2 25 | 7.4% | -85.4% | ||
| Q1 25 | 8.5% | -123.6% | ||
| Q4 24 | 2.1% | -167.0% | ||
| Q3 24 | 13.2% | -213.8% | ||
| Q2 24 | 9.5% | -187.7% | ||
| Q1 24 | 12.6% | -211.1% |
净利率VECOVELO
| Q4 25 | 0.7% | -231.9% | ||
| Q3 25 | 6.4% | -82.0% | ||
| Q2 25 | 7.1% | -97.7% | ||
| Q1 25 | 7.1% | -268.4% | ||
| Q4 24 | 8.2% | -168.5% | ||
| Q3 24 | 11.9% | -265.3% | ||
| Q2 24 | 8.5% | 9.0% | ||
| Q1 24 | 12.5% | -281.2% |
每股收益（稀释后）VECOVELO
| Q4 25 | $0.02 | $-0.87 | ||
| Q3 25 | $0.17 | $-0.65 | ||
| Q2 25 | $0.20 | $-0.94 | ||
| Q1 25 | $0.20 | $-1.87 | ||
| Q4 24 | $0.25 | $7.06 | ||
| Q3 24 | $0.36 | $-35.52 | ||
| Q2 24 | $0.25 | $1.65 | ||
| Q1 24 | $0.37 | $-55.51 |
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 | $163.5M | $39.0M |
| 总债务越低越好 | $226.0M | $31.0M |
| 股东权益账面价值 | $885.5M | $38.2M |
| 总资产 | $1.3B | $105.3M |
| 负债/权益比越低杠杆越低 | 0.26× | 0.81× |
8季度趋势，按日历期对齐
现金及短期投资VECOVELO
| Q4 25 | $163.5M | $39.0M | ||
| Q3 25 | $193.2M | $11.8M | ||
| Q2 25 | $188.9M | $854.0K | ||
| Q1 25 | $174.9M | $3.9M | ||
| Q4 24 | $145.6M | $1.2M | ||
| Q3 24 | $163.2M | $1.6M | ||
| Q2 24 | $174.2M | $3.2M | ||
| Q1 24 | $174.0M | $10.9M |
总债务VECOVELO
| Q4 25 | $226.0M | $31.0M | ||
| Q3 25 | $225.7M | $23.0M | ||
| Q2 25 | $225.4M | $22.5M | ||
| Q1 25 | $250.0M | $21.7M | ||
| Q4 24 | $276.2M | $5.7M | ||
| Q3 24 | $275.9M | $32.3M | ||
| Q2 24 | $275.6M | $33.5M | ||
| Q1 24 | $275.2M | $44.0M |
股东权益VECOVELO
| Q4 25 | $885.5M | $38.2M | ||
| Q3 25 | $876.0M | $29.9M | ||
| Q2 25 | $856.2M | $21.4M | ||
| Q1 25 | $811.9M | $32.8M | ||
| Q4 24 | $770.8M | $39.7M | ||
| Q3 24 | $746.5M | $34.4M | ||
| Q2 24 | $715.0M | $52.1M | ||
| Q1 24 | $687.9M | $45.5M |
总资产VECOVELO
| Q4 25 | $1.3B | $105.3M | ||
| Q3 25 | $1.3B | $93.7M | ||
| Q2 25 | $1.3B | $78.4M | ||
| Q1 25 | $1.3B | $91.3M | ||
| Q4 24 | $1.3B | $89.2M | ||
| Q3 24 | $1.3B | $110.8M | ||
| Q2 24 | $1.2B | $116.7M | ||
| Q1 24 | $1.2B | $136.1M |
负债/权益比VECOVELO
| Q4 25 | 0.26× | 0.81× | ||
| Q3 25 | 0.26× | 0.77× | ||
| Q2 25 | 0.26× | 1.05× | ||
| Q1 25 | 0.31× | 0.66× | ||
| Q4 24 | 0.36× | 0.14× | ||
| Q3 24 | 0.37× | 0.94× | ||
| Q2 24 | 0.39× | 0.64× | ||
| Q1 24 | 0.40× | 0.97× |
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 | $24.9M | $-7.7M |
| 自由现金流经营现金流 - 资本支出 | $21.7M | $-8.3M |
| 自由现金流率自由现金流/营收 | 13.1% | -88.3% |
| 资本支出强度资本支出/营收 | 2.0% | 6.4% |
| 现金转化率经营现金流/净利润 | 22.38× | — |
| 过去12个月自由现金流最近4个季度 | $53.3M | — |
8季度趋势，按日历期对齐
经营现金流VECOVELO
| Q4 25 | $24.9M | $-7.7M | ||
| Q3 25 | $15.5M | $-6.0M | ||
| Q2 25 | $9.0M | $-1.2M | ||
| Q1 25 | $20.0M | $-12.3M | ||
| Q4 24 | $28.4M | $-2.2M | ||
| Q3 24 | $17.6M | $-2.0M | ||
| Q2 24 | $8.5M | $-8.0M | ||
| Q1 24 | $9.4M | $-20.5M |
自由现金流VECOVELO
| Q4 25 | $21.7M | $-8.3M | ||
| Q3 25 | $13.0M | $-6.3M | ||
| Q2 25 | $5.4M | $-3.0M | ||
| Q1 25 | $13.2M | — | ||
| Q4 24 | $23.2M | $-2.2M | ||
| Q3 24 | $13.6M | $-2.0M | ||
| Q2 24 | $5.5M | $-8.0M | ||
| Q1 24 | $3.4M | $-20.5M |
自由现金流率VECOVELO
| Q4 25 | 13.1% | -88.3% | ||
| Q3 25 | 7.8% | -46.5% | ||
| Q2 25 | 3.3% | -22.2% | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.7% | -17.7% | ||
| Q3 24 | 7.4% | -24.2% | ||
| Q2 24 | 3.1% | -77.1% | ||
| Q1 24 | 1.9% | -209.8% |
资本支出强度VECOVELO
| Q4 25 | 2.0% | 6.4% | ||
| Q3 25 | 1.6% | 2.3% | ||
| Q2 25 | 2.2% | 13.3% | ||
| Q1 25 | 4.0% | 0.0% | ||
| Q4 24 | 2.8% | 0.2% | ||
| Q3 24 | 2.2% | 0.2% | ||
| Q2 24 | 1.7% | 0.0% | ||
| Q1 24 | 3.4% | 0.1% |
现金转化率VECOVELO
| Q4 25 | 22.38× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.90× | — | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 0.57× | -8.52× | ||
| Q1 24 | 0.43× | — |
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
VECO
| Asia Pacific Excluding China | $89.9M | 54% |
| Other | $44.8M | 27% |
| Compound Semiconductor | $20.1M | 12% |
| Data Storage | $10.2M | 6% |
VELO
暂无分部数据
