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世纪互联（VNET）与YETI Holdings, Inc.（YETI）财务数据对比。点击上方公司名可切换其他公司
YETI Holdings, Inc.的季度营收约是世纪互联的1.3倍（$487.8M vs $362.7M），YETI Holdings, Inc.净利率更高（8.1% vs -10.7%，领先18.7%），YETI Holdings, Inc.自由现金流更多（$89.1M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% vs -3.1%）
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。
YETI Holdings, Inc.是源自美国的户外休闲产品品牌，总部位于得克萨斯州奥斯汀，主打户外耐用品，产品线涵盖保温箱、真空隔热不锈钢饮具、软质冷却包、防水干燥袋及各类相关配件，产品主打耐用性与保温保冷性能，深受户外爱好者青睐。
VNET vs YETI — 直观对比
营收规模更大
YETI
是对方的1.3倍
$362.7M
净利率更高
YETI
高出18.7%
-10.7%
自由现金流更多
YETI
多$282.2M
$-193.1M
两年增速更快
VNET
近两年复合增速
-3.1%
损益表 — Q3 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $362.7M | $487.8M |
| 净利润 | $-38.7M | $39.4M |
| 毛利率 | 20.9% | 55.9% |
| 营业利润率 | 0.5% | 11.1% |
| 净利率 | -10.7% | 8.1% |
| 营收同比 | — | 1.9% |
| 净利润同比 | — | -30.0% |
| 每股收益（稀释后） | — | $0.48 |
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VNETYETI
| Q3 25 | $362.7M | $487.8M | ||
| Q2 25 | — | $445.9M | ||
| Q1 25 | $309.5M | $351.1M | ||
| Q4 24 | — | $546.5M | ||
| Q3 24 | $302.2M | $478.4M | ||
| Q2 24 | $274.4M | $463.5M | ||
| Q1 24 | $262.9M | $341.4M | ||
| Q4 23 | — | $519.8M |
净利润VNETYETI
| Q3 25 | $-38.7M | $39.4M | ||
| Q2 25 | — | $51.2M | ||
| Q1 25 | $-2.4M | $16.6M | ||
| Q4 24 | — | $53.2M | ||
| Q3 24 | $-2.1M | $56.3M | ||
| Q2 24 | $-1.1M | $50.4M | ||
| Q1 24 | $-22.0M | $15.9M | ||
| Q4 23 | — | $78.6M |
毛利率VNETYETI
| Q3 25 | 20.9% | 55.9% | ||
| Q2 25 | — | 57.8% | ||
| Q1 25 | 25.2% | 57.4% | ||
| Q4 24 | — | 59.7% | ||
| Q3 24 | 23.2% | 58.0% | ||
| Q2 24 | 21.3% | 57.0% | ||
| Q1 24 | 21.6% | 57.1% | ||
| Q4 23 | — | 60.6% |
营业利润率VNETYETI
| Q3 25 | 0.5% | 11.1% | ||
| Q2 25 | — | 13.9% | ||
| Q1 25 | 0.1% | 6.2% | ||
| Q4 24 | — | 15.1% | ||
| Q3 24 | 24.5% | 14.6% | ||
| Q2 24 | 0.2% | 14.5% | ||
| Q1 24 | 0.2% | 7.6% | ||
| Q4 23 | — | 18.9% |
净利率VNETYETI
| Q3 25 | -10.7% | 8.1% | ||
| Q2 25 | — | 11.5% | ||
| Q1 25 | -0.8% | 4.7% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | -0.7% | 11.8% | ||
| Q2 24 | -0.4% | 10.9% | ||
| Q1 24 | -8.4% | 4.6% | ||
| Q4 23 | — | 15.1% |
每股收益（稀释后）VNETYETI
| Q3 25 | — | $0.48 | ||
| Q2 25 | — | $0.61 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | $0.62 | ||
| Q3 24 | — | $0.66 | ||
| Q2 24 | — | $0.59 | ||
| Q1 24 | — | $0.18 | ||
| Q4 23 | — | $0.89 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $890.8M | $702.6M |
| 总资产 | $6.1B | $1.3B |
| 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VNETYETI
| Q3 25 | $492.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $544.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $219.5M | — | ||
| Q2 24 | $247.2M | — | ||
| Q1 24 | $246.9M | — | ||
| Q4 23 | — | — |
总债务VNETYETI
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $72.8M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | $78.6M |
股东权益VNETYETI
| Q3 25 | $890.8M | $702.6M | ||
| Q2 25 | — | $802.7M | ||
| Q1 25 | $927.8M | $764.3M | ||
| Q4 24 | — | $740.1M | ||
| Q3 24 | $902.9M | $770.0M | ||
| Q2 24 | $900.6M | $705.9M | ||
| Q1 24 | $895.1M | $646.9M | ||
| Q4 23 | — | $723.6M |
总资产VNETYETI
| Q3 25 | $6.1B | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | $5.4B | $1.2B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $4.3B | $1.3B | ||
| Q2 24 | $4.0B | $1.2B | ||
| Q1 24 | $3.9B | $1.1B | ||
| Q4 23 | — | $1.3B |
负债/权益比VNETYETI
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | 0.11× |
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 | $100.9M |
| 自由现金流经营现金流 - 资本支出 | $-193.1M | $89.1M |
| 自由现金流率自由现金流/营收 | -53.2% | 18.3% |
| 资本支出强度资本支出/营收 | 84.6% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 2.56× |
| 过去12个月自由现金流最近4个季度 | $-589.7M | $265.2M |
8季度趋势，按日历期对齐
经营现金流VNETYETI
| Q3 25 | $113.8M | $100.9M | ||
| Q2 25 | — | $61.2M | ||
| Q1 25 | $27.0M | $-80.3M | ||
| Q4 24 | — | $225.6M | ||
| Q3 24 | $108.3M | $83.5M | ||
| Q2 24 | $55.8M | $56.0M | ||
| Q1 24 | $37.1M | $-103.7M | ||
| Q4 23 | — | $171.2M |
自由现金流VNETYETI
| Q3 25 | $-193.1M | $89.1M | ||
| Q2 25 | — | $50.2M | ||
| Q1 25 | $-220.0M | $-89.2M | ||
| Q4 24 | — | $215.1M | ||
| Q3 24 | $-95.0M | $73.8M | ||
| Q2 24 | $-81.6M | $45.0M | ||
| Q1 24 | $-102.2M | $-114.3M | ||
| Q4 23 | — | $159.5M |
自由现金流率VNETYETI
| Q3 25 | -53.2% | 18.3% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | -71.1% | -25.4% | ||
| Q4 24 | — | 39.4% | ||
| Q3 24 | -31.4% | 15.4% | ||
| Q2 24 | -29.8% | 9.7% | ||
| Q1 24 | -38.9% | -33.5% | ||
| Q4 23 | — | 30.7% |
资本支出强度VNETYETI
| Q3 25 | 84.6% | 2.4% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | 79.8% | 2.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 67.3% | 2.0% | ||
| Q2 24 | 50.1% | 2.4% | ||
| Q1 24 | 53.0% | 3.1% | ||
| Q4 23 | — | 2.2% |
现金转化率VNETYETI
| Q3 25 | — | 2.56× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | -4.83× | ||
| Q4 24 | — | 4.24× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | -6.54× | ||
| Q4 23 | — | 2.18× |
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
YETI
| Drinkware | $263.8M | 54% |
| Coolers And Equipment | $215.4M | 44% |
| Other | $8.6M | 2% |
