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世纪互联（VNET）与VERRA MOBILITY Corp（VRRM）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VERRA MOBILITY Corp的1.4倍（$362.7M vs $257.9M），VERRA MOBILITY Corp净利率更高（7.3% vs -10.7%，领先18.0%），VERRA MOBILITY Corp自由现金流更多（$5.7M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 10.9%）
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。
Verra Mobility Corp是全球领先的智慧出行技术解决方案提供商，业务涵盖收费管理、停车与交通合规执法、车联网服务及车队管理工具，服务对象包括政府交通部门、租车运营商、商业车队所有者及汽车行业合作伙伴，覆盖北美、欧洲及亚太市场。
VNET vs VRRM — 直观对比
营收规模更大
VNET
是对方的1.4倍
$257.9M
净利率更高
VRRM
高出18.0%
-10.7%
自由现金流更多
VRRM
多$198.8M
$-193.1M
两年增速更快
VNET
近两年复合增速
10.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $362.7M | $257.9M |
| 净利润 | $-38.7M | $18.9M |
| 毛利率 | 20.9% | — |
| 营业利润率 | 0.5% | 16.7% |
| 净利率 | -10.7% | 7.3% |
| 营收同比 | — | 16.4% |
| 净利润同比 | — | 128.3% |
| 每股收益（稀释后） | — | $0.12 |
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VNETVRRM
| Q4 25 | — | $257.9M | ||
| Q3 25 | $362.7M | $261.9M | ||
| Q2 25 | — | $236.0M | ||
| Q1 25 | $309.5M | $223.3M | ||
| Q4 24 | — | $221.5M | ||
| Q3 24 | $302.2M | $225.6M | ||
| Q2 24 | $274.4M | $222.4M | ||
| Q1 24 | $262.9M | $209.7M |
净利润VNETVRRM
| Q4 25 | — | $18.9M | ||
| Q3 25 | $-38.7M | $46.8M | ||
| Q2 25 | — | $38.6M | ||
| Q1 25 | $-2.4M | $32.3M | ||
| Q4 24 | — | $-66.7M | ||
| Q3 24 | $-2.1M | $34.7M | ||
| Q2 24 | $-1.1M | $34.2M | ||
| Q1 24 | $-22.0M | $29.1M |
毛利率VNETVRRM
| 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VNETVRRM
| Q4 25 | — | 16.7% | ||
| Q3 25 | 0.5% | 28.6% | ||
| Q2 25 | — | 26.8% | ||
| Q1 25 | 0.1% | 25.7% | ||
| Q4 24 | — | -19.6% | ||
| Q3 24 | 24.5% | 28.3% | ||
| Q2 24 | 0.2% | 27.5% | ||
| Q1 24 | 0.2% | 25.9% |
净利率VNETVRRM
| Q4 25 | — | 7.3% | ||
| Q3 25 | -10.7% | 17.9% | ||
| Q2 25 | — | 16.3% | ||
| Q1 25 | -0.8% | 14.5% | ||
| Q4 24 | — | -30.1% | ||
| Q3 24 | -0.7% | 15.4% | ||
| Q2 24 | -0.4% | 15.4% | ||
| Q1 24 | -8.4% | 13.9% |
每股收益（稀释后）VNETVRRM
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.29 | ||
| Q2 25 | — | $0.24 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | $-0.39 | ||
| Q3 24 | — | $0.21 | ||
| Q2 24 | — | $0.20 | ||
| Q1 24 | — | $0.17 |
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 | $492.1M | $65.3M |
| 总债务越低越好 | — | $1.0B |
| 股东权益账面价值 | $890.8M | $293.0M |
| 总资产 | $6.1B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 3.51× |
8季度趋势，按日历期对齐
现金及短期投资VNETVRRM
| Q4 25 | — | $65.3M | ||
| Q3 25 | $492.1M | $196.1M | ||
| Q2 25 | — | $147.7M | ||
| Q1 25 | $544.3M | $108.5M | ||
| Q4 24 | — | $77.6M | ||
| Q3 24 | $219.5M | $206.1M | ||
| Q2 24 | $247.2M | $122.0M | ||
| Q1 24 | $246.9M | $149.5M |
总债务VNETVRRM
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.0B |
股东权益VNETVRRM
| Q4 25 | — | $293.0M | ||
| Q3 25 | $890.8M | $403.1M | ||
| Q2 25 | — | $352.1M | ||
| Q1 25 | $927.8M | $299.6M | ||
| Q4 24 | — | $265.1M | ||
| Q3 24 | $902.9M | $486.5M | ||
| Q2 24 | $900.6M | $438.6M | ||
| Q1 24 | $895.1M | $449.0M |
总资产VNETVRRM
| Q4 25 | — | $1.6B | ||
| Q3 25 | $6.1B | $1.8B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | $5.4B | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $4.3B | $1.9B | ||
| Q2 24 | $4.0B | $1.8B | ||
| Q1 24 | $3.9B | $1.8B |
负债/权益比VNETVRRM
| Q4 25 | — | 3.51× | ||
| Q3 25 | — | 2.55× | ||
| Q2 25 | — | 2.93× | ||
| Q1 25 | — | 3.45× | ||
| Q4 24 | — | 3.90× | ||
| Q3 24 | 1.28× | 2.13× | ||
| Q2 24 | — | 2.36× | ||
| Q1 24 | — | 2.31× |
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 | $113.8M | $40.0M |
| 自由现金流经营现金流 - 资本支出 | $-193.1M | $5.7M |
| 自由现金流率自由现金流/营收 | -53.2% | 2.2% |
| 资本支出强度资本支出/营收 | 84.6% | 13.3% |
| 现金转化率经营现金流/净利润 | — | 2.12× |
| 过去12个月自由现金流最近4个季度 | $-589.7M | $136.7M |
8季度趋势，按日历期对齐
经营现金流VNETVRRM
| Q4 25 | — | $40.0M | ||
| Q3 25 | $113.8M | $77.7M | ||
| Q2 25 | — | $75.1M | ||
| Q1 25 | $27.0M | $63.0M | ||
| Q4 24 | — | $40.5M | ||
| Q3 24 | $108.3M | $108.8M | ||
| Q2 24 | $55.8M | $40.0M | ||
| Q1 24 | $37.1M | $34.3M |
自由现金流VNETVRRM
| Q4 25 | — | $5.7M | ||
| Q3 25 | $-193.1M | $49.0M | ||
| Q2 25 | — | $40.3M | ||
| Q1 25 | $-220.0M | $41.7M | ||
| Q4 24 | — | $21.6M | ||
| Q3 24 | $-95.0M | $85.1M | ||
| Q2 24 | $-81.6M | $26.0M | ||
| Q1 24 | $-102.2M | $20.1M |
自由现金流率VNETVRRM
| Q4 25 | — | 2.2% | ||
| Q3 25 | -53.2% | 18.7% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | -71.1% | 18.7% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | -31.4% | 37.7% | ||
| Q2 24 | -29.8% | 11.7% | ||
| Q1 24 | -38.9% | 9.6% |
资本支出强度VNETVRRM
| Q4 25 | — | 13.3% | ||
| Q3 25 | 84.6% | 11.0% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | 79.8% | 9.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | 67.3% | 10.5% | ||
| Q2 24 | 50.1% | 6.3% | ||
| Q1 24 | 53.0% | 6.8% |
现金转化率VNETVRRM
| Q4 25 | — | 2.12× | ||
| Q3 25 | — | 1.66× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 1.95× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.13× | ||
| Q2 24 | — | 1.17× | ||
| Q1 24 | — | 1.18× |
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
VNET
暂无分部数据
VRRM
| Services | $239.5M | 93% |
| CA | $8.4M | 3% |
| GB | $5.7M | 2% |
| Other Customer | $1.6M | 1% |
| Parking Solutions | $1.1M | 0% |
