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世纪互联（VNET）与Westrock Coffee Co（WEST）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Westrock Coffee Co的1.1倍（$362.7M vs $339.5M），Westrock Coffee Co净利率更高（-6.6% vs -10.7%，领先4.0%），Westrock Coffee Co自由现金流更多（$27.8M vs $-193.1M），过去两年Westrock Coffee Co的营收复合增速更高（32.8% vs 17.4%）
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。
Westrock Coffee Co是一家全球化综合咖啡及饮品解决方案供应商，业务覆盖咖啡、茶与功能性饮品的采购、烘焙、生产及分销，为北美及全球其他区域的零售、餐饮和商业客户提供定制化产品及配套服务。
VNET vs WEST — 直观对比
营收规模更大
VNET
是对方的1.1倍
$339.5M
净利率更高
WEST
高出4.0%
-10.7%
自由现金流更多
WEST
多$220.9M
$-193.1M
两年增速更快
WEST
近两年复合增速
17.4%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $362.7M | $339.5M |
| 净利润 | $-38.7M | $-22.6M |
| 毛利率 | 20.9% | 11.5% |
| 营业利润率 | 0.5% | -2.6% |
| 净利率 | -10.7% | -6.6% |
| 营收同比 | — | 48.3% |
| 净利润同比 | — | 8.3% |
| 每股收益（稀释后） | — | $-0.22 |
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VNETWEST
| Q4 25 | — | $339.5M | ||
| Q3 25 | $362.7M | $354.8M | ||
| Q2 25 | — | $280.9M | ||
| Q1 25 | $309.5M | $213.8M | ||
| Q4 24 | — | $229.0M | ||
| Q3 24 | $302.2M | $220.9M | ||
| Q2 24 | $274.4M | $208.4M | ||
| Q1 24 | $262.9M | $192.5M |
净利润VNETWEST
| Q4 25 | — | $-22.6M | ||
| Q3 25 | $-38.7M | $-19.1M | ||
| Q2 25 | — | $-21.6M | ||
| Q1 25 | $-2.4M | $-27.2M | ||
| Q4 24 | — | $-24.6M | ||
| Q3 24 | $-2.1M | $-14.3M | ||
| Q2 24 | $-1.1M | $-17.8M | ||
| Q1 24 | $-22.0M | $-23.7M |
毛利率VNETWEST
| Q4 25 | — | 11.5% | ||
| Q3 25 | 20.9% | 11.7% | ||
| Q2 25 | — | 14.7% | ||
| Q1 25 | 25.2% | 13.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | 23.2% | 16.8% | ||
| Q2 24 | 21.3% | 19.9% | ||
| Q1 24 | 21.6% | 19.4% |
营业利润率VNETWEST
| Q4 25 | — | -2.6% | ||
| Q3 25 | 0.5% | -2.4% | ||
| Q2 25 | — | -5.3% | ||
| Q1 25 | 0.1% | -6.1% | ||
| Q4 24 | — | -4.3% | ||
| Q3 24 | 24.5% | -5.8% | ||
| Q2 24 | 0.2% | -7.9% | ||
| Q1 24 | 0.2% | -5.3% |
净利率VNETWEST
| Q4 25 | — | -6.6% | ||
| Q3 25 | -10.7% | -5.4% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | -0.8% | -12.7% | ||
| Q4 24 | — | -10.7% | ||
| Q3 24 | -0.7% | -6.5% | ||
| Q2 24 | -0.4% | -8.5% | ||
| Q1 24 | -8.4% | -12.3% |
每股收益（稀释后）VNETWEST
| Q4 25 | — | $-0.22 | ||
| Q3 25 | — | $-0.20 | ||
| Q2 25 | — | $-0.23 | ||
| Q1 25 | — | $-0.29 | ||
| Q4 24 | — | $-0.26 | ||
| Q3 24 | — | $-0.16 | ||
| Q2 24 | — | $-0.20 | ||
| Q1 24 | — | $-0.27 |
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 | $49.9M |
| 总债务越低越好 | — | $444.1M |
| 股东权益账面价值 | $890.8M | $-1.9M |
| 总资产 | $6.1B | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资VNETWEST
| Q4 25 | — | $49.9M | ||
| Q3 25 | $492.1M | $34.0M | ||
| Q2 25 | — | $44.0M | ||
| Q1 25 | $544.3M | $33.1M | ||
| Q4 24 | — | $26.2M | ||
| Q3 24 | $219.5M | $22.4M | ||
| Q2 24 | $247.2M | $24.3M | ||
| Q1 24 | $246.9M | $12.6M |
总债务VNETWEST
| Q4 25 | — | $444.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $393.1M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益VNETWEST
| Q4 25 | — | $-1.9M | ||
| Q3 25 | $890.8M | $11.4M | ||
| Q2 25 | — | $18.2M | ||
| Q1 25 | $927.8M | $71.4M | ||
| Q4 24 | — | $97.5M | ||
| Q3 24 | $902.9M | $110.3M | ||
| Q2 24 | $900.6M | $81.5M | ||
| Q1 24 | $895.1M | $91.7M |
总资产VNETWEST
| Q4 25 | — | $1.2B | ||
| Q3 25 | $6.1B | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | $5.4B | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $4.3B | $1.1B | ||
| Q2 24 | $4.0B | $1.1B | ||
| Q1 24 | $3.9B | $983.3M |
负债/权益比VNETWEST
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.03× | ||
| 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 | $36.7M |
| 自由现金流经营现金流 - 资本支出 | $-193.1M | $27.8M |
| 自由现金流率自由现金流/营收 | -53.2% | 8.2% |
| 资本支出强度资本支出/营收 | 84.6% | 2.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-589.7M | $-107.8M |
8季度趋势，按日历期对齐
经营现金流VNETWEST
| Q4 25 | — | $36.7M | ||
| Q3 25 | $113.8M | $-26.6M | ||
| Q2 25 | — | $-7.0M | ||
| Q1 25 | $27.0M | $-22.1M | ||
| Q4 24 | — | $2.8M | ||
| Q3 24 | $108.3M | $-332.0K | ||
| Q2 24 | $55.8M | $-23.7M | ||
| Q1 24 | $37.1M | $8.0M |
自由现金流VNETWEST
| Q4 25 | — | $27.8M | ||
| Q3 25 | $-193.1M | $-44.7M | ||
| Q2 25 | — | $-27.5M | ||
| Q1 25 | $-220.0M | $-63.4M | ||
| Q4 24 | — | $-15.4M | ||
| Q3 24 | $-95.0M | $-36.7M | ||
| Q2 24 | $-81.6M | $-59.9M | ||
| Q1 24 | $-102.2M | $-60.9M |
自由现金流率VNETWEST
| Q4 25 | — | 8.2% | ||
| Q3 25 | -53.2% | -12.6% | ||
| Q2 25 | — | -9.8% | ||
| Q1 25 | -71.1% | -29.7% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | -31.4% | -16.6% | ||
| Q2 24 | -29.8% | -28.7% | ||
| Q1 24 | -38.9% | -31.7% |
资本支出强度VNETWEST
| Q4 25 | — | 2.6% | ||
| Q3 25 | 84.6% | 5.1% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | 79.8% | 19.3% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 67.3% | 16.5% | ||
| Q2 24 | 50.1% | 17.4% | ||
| Q1 24 | 53.0% | 35.8% |
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
WEST
| Coffee And Tea | $202.6M | 60% |
| Flavors Extracts And Ingredients | $69.6M | 21% |
| Sustainable Sourcing And Traceability Segments | $66.9M | 20% |
