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世纪互联（VNET）与Willdan Group, Inc.（WLDN）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Willdan Group, Inc.的2.0倍（$362.7M vs $182.0M），Willdan Group, Inc.净利率更高（7.5% vs -10.7%，领先18.2%），Willdan Group, Inc.自由现金流更多（$9.8M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs 8.1%）
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。
Willdan集团是美国上市的专业技术与咨询服务提供商，服务对象覆盖公共及私营公用事业企业、各级政府公共机构，还有工商业领域客户。公司在全美十余个州设有办事处，核心业务布局于加利福尼亚州与纽约州。
VNET vs WLDN — 直观对比
营收规模更大
VNET
是对方的2.0倍
$182.0M
净利率更高
WLDN
高出18.2%
-10.7%
自由现金流更多
WLDN
多$202.9M
$-193.1M
两年增速更快
VNET
近两年复合增速
8.1%
损益表 — Q3 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $362.7M | $182.0M |
| 净利润 | $-38.7M | $13.7M |
| 毛利率 | 20.9% | 36.9% |
| 营业利润率 | 0.5% | 8.2% |
| 净利率 | -10.7% | 7.5% |
| 营收同比 | — | 15.0% |
| 净利润同比 | — | 86.8% |
| 每股收益（稀释后） | — | $0.90 |
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VNETWLDN
| Q4 25 | — | $182.0M | ||
| Q3 25 | $362.7M | $173.5M | ||
| Q2 25 | — | $152.4M | ||
| Q1 25 | $309.5M | — | ||
| Q4 24 | — | $144.1M | ||
| Q3 24 | $302.2M | $158.3M | ||
| Q2 24 | $274.4M | $141.0M | ||
| Q1 24 | $262.9M | $122.5M |
净利润VNETWLDN
| Q4 25 | — | $13.7M | ||
| Q3 25 | $-38.7M | $15.4M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | $-2.4M | — | ||
| Q4 24 | — | $7.7M | ||
| Q3 24 | $-2.1M | $7.3M | ||
| Q2 24 | $-1.1M | $4.6M | ||
| Q1 24 | $-22.0M | $2.9M |
毛利率VNETWLDN
| Q4 25 | — | 36.9% | ||
| Q3 25 | 20.9% | 39.4% | ||
| Q2 25 | — | 37.8% | ||
| Q1 25 | 25.2% | — | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | 23.2% | 32.6% | ||
| Q2 24 | 21.3% | 34.6% | ||
| Q1 24 | 21.6% | 38.7% |
营业利润率VNETWLDN
| Q4 25 | — | 8.2% | ||
| Q3 25 | 0.5% | 6.8% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | 24.5% | 5.5% | ||
| Q2 24 | 0.2% | 4.6% | ||
| Q1 24 | 0.2% | 4.4% |
净利率VNETWLDN
| Q4 25 | — | 7.5% | ||
| Q3 25 | -10.7% | 8.9% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | -0.8% | — | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | -0.7% | 4.6% | ||
| Q2 24 | -0.4% | 3.3% | ||
| Q1 24 | -8.4% | 2.4% |
每股收益（稀释后）VNETWLDN
| Q4 25 | — | $0.90 | ||
| Q3 25 | — | $1.03 | ||
| Q2 25 | — | $0.32 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0.53 | ||
| Q3 24 | — | $0.51 | ||
| Q2 24 | — | $0.33 | ||
| Q1 24 | — | $0.21 |
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 | $33.1M |
| 总债务越低越好 | — | $49.1M |
| 股东权益账面价值 | $890.8M | $283.1M |
| 总资产 | $6.1B | $507.9M |
| 负债/权益比越低杠杆越低 | — | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资VNETWLDN
| Q4 25 | — | $33.1M | ||
| Q3 25 | $492.1M | $32.3M | ||
| Q2 25 | — | $38.4M | ||
| Q1 25 | $544.3M | — | ||
| Q4 24 | — | $74.2M | ||
| Q3 24 | $219.5M | $53.1M | ||
| Q2 24 | $247.2M | $44.3M | ||
| Q1 24 | $246.9M | $46.9M |
总债务VNETWLDN
| Q4 25 | — | $49.1M | ||
| Q3 25 | — | $59.7M | ||
| Q2 25 | — | $86.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $89.5M | ||
| Q3 24 | $1.2B | $91.9M | ||
| Q2 24 | — | $93.7M | ||
| Q1 24 | — | $95.5M |
股东权益VNETWLDN
| Q4 25 | — | $283.1M | ||
| Q3 25 | $890.8M | $265.9M | ||
| Q2 25 | — | $245.5M | ||
| Q1 25 | $927.8M | — | ||
| Q4 24 | — | $234.3M | ||
| Q3 24 | $902.9M | $224.0M | ||
| Q2 24 | $900.6M | $213.0M | ||
| Q1 24 | $895.1M | $205.5M |
总资产VNETWLDN
| Q4 25 | — | $507.9M | ||
| Q3 25 | $6.1B | $484.9M | ||
| Q2 25 | — | $471.2M | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | — | $464.9M | ||
| Q3 24 | $4.3B | $447.3M | ||
| Q2 24 | $4.0B | $421.3M | ||
| Q1 24 | $3.9B | $407.9M |
负债/权益比VNETWLDN
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | 1.28× | 0.41× | ||
| Q2 24 | — | 0.44× | ||
| Q1 24 | — | 0.46× |
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 | $12.2M |
| 自由现金流经营现金流 - 资本支出 | $-193.1M | $9.8M |
| 自由现金流率自由现金流/营收 | -53.2% | 5.4% |
| 资本支出强度资本支出/营收 | 84.6% | 1.3% |
| 现金转化率经营现金流/净利润 | — | 0.89× |
| 过去12个月自由现金流最近4个季度 | $-589.7M | $65.1M |
8季度趋势，按日历期对齐
经营现金流VNETWLDN
| Q4 25 | — | $12.2M | ||
| Q3 25 | $113.8M | $25.4M | ||
| Q2 25 | — | $3.3M | ||
| Q1 25 | $27.0M | — | ||
| Q4 24 | — | $33.5M | ||
| Q3 24 | $108.3M | $10.8M | ||
| Q2 24 | $55.8M | $889.0K | ||
| Q1 24 | $37.1M | $26.9M |
自由现金流VNETWLDN
| Q4 25 | — | $9.8M | ||
| Q3 25 | $-193.1M | $23.2M | ||
| Q2 25 | — | $1.0M | ||
| Q1 25 | $-220.0M | — | ||
| Q4 24 | — | $31.1M | ||
| Q3 24 | $-95.0M | $8.8M | ||
| Q2 24 | $-81.6M | $-1.3M | ||
| Q1 24 | $-102.2M | $25.0M |
自由现金流率VNETWLDN
| Q4 25 | — | 5.4% | ||
| Q3 25 | -53.2% | 13.4% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | -71.1% | — | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | -31.4% | 5.6% | ||
| Q2 24 | -29.8% | -0.9% | ||
| Q1 24 | -38.9% | 20.4% |
资本支出强度VNETWLDN
| Q4 25 | — | 1.3% | ||
| Q3 25 | 84.6% | 1.3% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | 79.8% | — | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 67.3% | 1.2% | ||
| Q2 24 | 50.1% | 1.5% | ||
| Q1 24 | 53.0% | 1.6% |
现金转化率VNETWLDN
| Q4 25 | — | 0.89× | ||
| Q3 25 | — | 1.65× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.35× | ||
| Q3 24 | — | 1.47× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | — | 9.16× |
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
WLDN
| Public Utility | $74.2M | 41% |
| Governments | $64.6M | 35% |
| Engineering Consulting Services | $27.3M | 15% |
| Commercial | $15.9M | 9% |
| Alternative Power Generation Inc | $4.8M | 3% |
