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VinFast Auto Ltd.（VFS）与ZIFF DAVIS, INC.（ZD）财务数据对比。点击上方公司名可切换其他公司
VinFast Auto Ltd.的季度营收约是ZIFF DAVIS, INC.的1.8倍（$718.6M vs $406.7M），ZIFF DAVIS, INC.净利率更高（0.1% vs -2.8%，领先2.9%）
VinFast Auto Ltd.是越南跨国汽车企业，由越南最大私营综合企业集团之一Vingroup创立。Vingroup由越南知名企业家潘日旺创办，业务覆盖地产、零售、医疗、科技等多个领域，是越南本土头部企业集团。
齐夫戴维斯是美国知名数字媒体及互联网企业，由威廉·伯纳德·齐夫一世与伯纳德·乔治·戴维斯于1927年创立。公司核心业务涵盖科技、健康类媒体网站，线上购物相关服务，互联网接入服务，游戏娱乐品牌，以及网络安全和营销技术工具，早年曾以爱好者类杂志出版为主要业务。
VFS vs ZD — 直观对比
营收规模更大
VFS
是对方的1.8倍
$406.7M
净利率更高
ZD
高出2.9%
-2.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $718.6M | $406.7M |
| 净利润 | $-20.0M | $370.0K |
| 毛利率 | — | 85.9% |
| 营业利润率 | -96.1% | 21.2% |
| 净利率 | -2.8% | 0.1% |
| 营收同比 | — | -1.5% |
| 净利润同比 | — | -99.4% |
| 每股收益（稀释后） | — | $0.06 |
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VFSZD
| Q4 25 | — | $406.7M | ||
| Q3 25 | $718.6M | $363.7M | ||
| Q2 25 | $663.0M | $352.2M | ||
| Q1 25 | $656.5M | $328.6M | ||
| Q4 24 | — | $412.8M | ||
| Q3 24 | $511.6M | $353.6M | ||
| Q2 24 | — | $320.8M | ||
| Q1 24 | $302.6M | $314.5M |
净利润VFSZD
| Q4 25 | — | $370.0K | ||
| Q3 25 | $-20.0M | $-3.6M | ||
| Q2 25 | $-51.8M | $26.3M | ||
| Q1 25 | $-26.1M | $24.2M | ||
| Q4 24 | — | $64.1M | ||
| Q3 24 | $-10.4M | $-48.6M | ||
| Q2 24 | — | $36.9M | ||
| Q1 24 | $-618.3M | $10.6M |
毛利率VFSZD
| Q4 25 | — | 85.9% | ||
| Q3 25 | — | 85.4% | ||
| Q2 25 | — | 86.1% | ||
| Q1 25 | — | 85.6% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.5% | ||
| Q2 24 | — | 84.4% | ||
| Q1 24 | — | 85.4% |
营业利润率VFSZD
| Q4 25 | — | 21.2% | ||
| Q3 25 | -96.1% | 7.8% | ||
| Q2 25 | -79.0% | 9.5% | ||
| Q1 25 | -74.0% | 10.7% | ||
| Q4 24 | — | 19.0% | ||
| Q3 24 | -65.9% | -8.3% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | -139.4% | 11.4% |
净利率VFSZD
| Q4 25 | — | 0.1% | ||
| Q3 25 | -2.8% | -1.0% | ||
| Q2 25 | -7.8% | 7.5% | ||
| Q1 25 | -4.0% | 7.4% | ||
| Q4 24 | — | 15.5% | ||
| Q3 24 | -2.0% | -13.7% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | -204.3% | 3.4% |
每股收益（稀释后）VFSZD
| Q4 25 | — | $0.06 | ||
| Q3 25 | — | $-0.09 | ||
| Q2 25 | — | $0.62 | ||
| Q1 25 | — | $0.56 | ||
| Q4 24 | — | $1.53 | ||
| Q3 24 | — | $-1.11 | ||
| Q2 24 | — | $0.77 | ||
| Q1 24 | — | $0.23 |
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 | $8.8M | $607.0M |
| 总债务越低越好 | — | $866.5M |
| 股东权益账面价值 | — | $1.8B |
| 总资产 | $183.2M | $3.7B |
| 负债/权益比越低杠杆越低 | — | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资VFSZD
| Q4 25 | — | $607.0M | ||
| Q3 25 | $8.8M | $503.4M | ||
| Q2 25 | $650.0M | $457.3M | ||
| Q1 25 | $2.4M | $431.0M | ||
| Q4 24 | — | $505.9M | ||
| Q3 24 | $1.9M | $386.1M | ||
| Q2 24 | — | $687.2M | ||
| Q1 24 | $3.0M | $751.2M |
总债务VFSZD
| Q4 25 | — | $866.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $864.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益VFSZD
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | $-7.2B | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.9B |
总资产VFSZD
| Q4 25 | — | $3.7B | ||
| Q3 25 | $183.2M | $3.5B | ||
| Q2 25 | $7.2B | $3.5B | ||
| Q1 25 | $158.2M | $3.5B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $151.8M | $3.4B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | $145.6M | $3.7B |
负债/权益比VFSZD
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | — | ||
| 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 | — | $191.1M |
| 自由现金流经营现金流 - 资本支出 | — | $157.8M |
| 自由现金流率自由现金流/营收 | — | 38.8% |
| 资本支出强度资本支出/营收 | — | 8.2% |
| 现金转化率经营现金流/净利润 | — | 516.44× |
| 过去12个月自由现金流最近4个季度 | — | $287.9M |
8季度趋势，按日历期对齐
经营现金流VFSZD
| Q4 25 | — | $191.1M | ||
| Q3 25 | — | $138.3M | ||
| Q2 25 | — | $57.1M | ||
| Q1 25 | — | $20.6M | ||
| Q4 24 | — | $158.2M | ||
| Q3 24 | — | $106.0M | ||
| Q2 24 | — | $50.6M | ||
| Q1 24 | — | $75.6M |
自由现金流VFSZD
| Q4 25 | — | $157.8M | ||
| Q3 25 | — | $108.2M | ||
| Q2 25 | — | $26.9M | ||
| Q1 25 | — | $-5.0M | ||
| Q4 24 | — | $131.1M | ||
| Q3 24 | — | $80.1M | ||
| Q2 24 | — | $25.1M | ||
| Q1 24 | — | $47.4M |
自由现金流率VFSZD
| Q4 25 | — | 38.8% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | — | 31.8% | ||
| Q3 24 | — | 22.7% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 15.1% |
资本支出强度VFSZD
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | 8.9% |
现金转化率VFSZD
| Q4 25 | — | 516.44× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.17× | ||
| Q1 25 | — | 0.85× | ||
| Q4 24 | — | 2.47× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.37× | ||
| Q1 24 | — | 7.11× |
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
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
ZD
| Health And Wellness | $114.8M | 28% |
| Technology And Shopping | $108.9M | 27% |
| Cybersecurity And Martech Segment | $70.9M | 17% |
| Connectivity | $60.3M | 15% |
| Gaming And Entertainment | $51.7M | 13% |
| Subscription And Licensing | $2.9M | 1% |
