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世纪互联（VNET）与NCR Voyix Corp（VYX）财务数据对比。点击上方公司名可切换其他公司
NCR Voyix Corp的季度营收约是世纪互联的2.0倍（$720.0M vs $362.7M），NCR Voyix Corp净利率更高（13.6% vs -10.7%，领先24.3%），过去两年世纪互联的营收复合增速更高（17.4% vs 0.7%）
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。
NCR Voyix是一家全球化软件、咨询与科技企业，前身为恩智瑞公司与国民收银机公司，核心业务涵盖专业技术服务与电子产品供应，曾生产自助服务终端、收银POS机、自动柜员机、支票处理系统及条码扫描器等设备。
VNET vs VYX — 直观对比
营收规模更大
VYX
是对方的2.0倍
$362.7M
净利率更高
VYX
高出24.3%
-10.7%
两年增速更快
VNET
近两年复合增速
0.7%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $362.7M | $720.0M |
| 净利润 | $-38.7M | $98.0M |
| 毛利率 | 20.9% | — |
| 营业利润率 | 0.5% | 2.4% |
| 净利率 | -10.7% | 13.6% |
| 营收同比 | — | 6.2% |
| 净利润同比 | — | 990.9% |
| 每股收益（稀释后） | — | $0.64 |
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VNETVYX
| Q4 25 | — | $720.0M | ||
| Q3 25 | $362.7M | $684.0M | ||
| Q2 25 | — | $666.0M | ||
| Q1 25 | $309.5M | $617.0M | ||
| Q4 24 | — | $678.0M | ||
| Q3 24 | $302.2M | $708.0M | ||
| Q2 24 | $274.4M | $722.0M | ||
| Q1 24 | $262.9M | $710.0M |
净利润VNETVYX
| Q4 25 | — | $98.0M | ||
| Q3 25 | $-38.7M | $-19.0M | ||
| Q2 25 | — | $0 | ||
| Q1 25 | $-2.4M | $-17.0M | ||
| Q4 24 | — | $-11.0M | ||
| Q3 24 | $-2.1M | $1.1B | ||
| Q2 24 | $-1.1M | $-73.0M | ||
| Q1 24 | $-22.0M | $-40.0M |
毛利率VNETVYX
| Q4 25 | — | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 25.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 23.2% | 23.4% | ||
| Q2 24 | 21.3% | 17.5% | ||
| Q1 24 | 21.6% | 19.4% |
营业利润率VNETVYX
| Q4 25 | — | 2.4% | ||
| Q3 25 | 0.5% | 2.2% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | 0.1% | -3.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | 24.5% | 2.3% | ||
| Q2 24 | 0.2% | -4.7% | ||
| Q1 24 | 0.2% | -2.7% |
净利率VNETVYX
| Q4 25 | — | 13.6% | ||
| Q3 25 | -10.7% | -2.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.8% | -2.8% | ||
| Q4 24 | — | -1.6% | ||
| Q3 24 | -0.7% | 152.8% | ||
| Q2 24 | -0.4% | -10.1% | ||
| Q1 24 | -8.4% | -5.6% |
每股收益（稀释后）VNETVYX
| Q4 25 | — | $0.64 | ||
| Q3 25 | — | $-0.16 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | — | $7.41 | ||
| Q2 24 | — | $-0.53 | ||
| Q1 24 | — | $-0.31 |
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 | $231.0M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $890.8M | $948.0M |
| 总资产 | $6.1B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 1.17× |
8季度趋势，按日历期对齐
现金及短期投资VNETVYX
| Q4 25 | — | $231.0M | ||
| Q3 25 | $492.1M | $282.0M | ||
| Q2 25 | — | $276.0M | ||
| Q1 25 | $544.3M | $573.0M | ||
| Q4 24 | — | $722.0M | ||
| Q3 24 | $219.5M | $792.0M | ||
| Q2 24 | $247.2M | $203.0M | ||
| Q1 24 | $246.9M | $241.0M |
总债务VNETVYX
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益VNETVYX
| Q4 25 | — | $948.0M | ||
| Q3 25 | $890.8M | $848.0M | ||
| Q2 25 | — | $867.0M | ||
| Q1 25 | $927.8M | $857.0M | ||
| Q4 24 | — | $933.0M | ||
| Q3 24 | $902.9M | $1.0B | ||
| Q2 24 | $900.6M | $-85.0M | ||
| Q1 24 | $895.1M | $-34.0M |
总资产VNETVYX
| Q4 25 | — | $3.9B | ||
| Q3 25 | $6.1B | $4.0B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | $5.4B | $4.3B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $4.3B | $4.7B | ||
| Q2 24 | $4.0B | $4.8B | ||
| Q1 24 | $3.9B | $5.0B |
负债/权益比VNETVYX
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.18× | ||
| 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 | $113.8M | $60.0M |
| 自由现金流经营现金流 - 资本支出 | $-193.1M | — |
| 自由现金流率自由现金流/营收 | -53.2% | — |
| 资本支出强度资本支出/营收 | 84.6% | — |
| 现金转化率经营现金流/净利润 | — | 0.61× |
| 过去12个月自由现金流最近4个季度 | $-589.7M | — |
8季度趋势，按日历期对齐
经营现金流VNETVYX
| Q4 25 | — | $60.0M | ||
| Q3 25 | $113.8M | $14.0M | ||
| Q2 25 | — | $-242.0M | ||
| Q1 25 | $27.0M | $-42.0M | ||
| Q4 24 | — | $-170.0M | ||
| Q3 24 | $108.3M | $11.0M | ||
| Q2 24 | $55.8M | $62.0M | ||
| Q1 24 | $37.1M | $-35.0M |
自由现金流VNETVYX
| Q4 25 | — | — | ||
| Q3 25 | $-193.1M | $10.0M | ||
| Q2 25 | — | $-249.0M | ||
| Q1 25 | $-220.0M | $-50.0M | ||
| Q4 24 | — | $-177.0M | ||
| Q3 24 | $-95.0M | $9.0M | ||
| Q2 24 | $-81.6M | $49.0M | ||
| Q1 24 | $-102.2M | $-43.0M |
自由现金流率VNETVYX
| Q4 25 | — | — | ||
| Q3 25 | -53.2% | 1.5% | ||
| Q2 25 | — | -37.4% | ||
| Q1 25 | -71.1% | -8.1% | ||
| Q4 24 | — | -26.1% | ||
| Q3 24 | -31.4% | 1.3% | ||
| Q2 24 | -29.8% | 6.8% | ||
| Q1 24 | -38.9% | -6.1% |
资本支出强度VNETVYX
| Q4 25 | — | — | ||
| Q3 25 | 84.6% | 0.6% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | 79.8% | 1.3% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | 67.3% | 0.3% | ||
| Q2 24 | 50.1% | 1.8% | ||
| Q1 24 | 53.0% | 1.1% |
现金转化率VNETVYX
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
VYX
| Services | $484.0M | 67% |
| Products | $236.0M | 33% |
