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惠好（WY）与Zscaler, Inc.（ZS）财务数据对比。点击上方公司名可切换其他公司
惠好的季度营收约是Zscaler, Inc.的2.0倍（$1.5B vs $788.1M），惠好净利率更高（4.8% vs -1.5%，领先6.3%），Zscaler, Inc.同比增速更快（25.5% vs -9.8%），Zscaler, Inc.自由现金流更多（$431.0M vs $-128.0M），过去两年Zscaler, Inc.的营收复合增速更高（22.5% vs -7.4%）
惠好是美国知名林地运营企业，在美国本土持有约1040万英亩林地，同时通过长期许可协议在加拿大管理额外1400万英亩林地。企业拥有逾百年木制品生产历史，目前以房地产投资信托（REIT）模式运营。
Zscaler是总部位于美国加利福尼亚州圣何塞的云安全企业，专注提供云原生安全服务，为全球各行业企业的网络系统与数据资产提供全方位防护，助力企业在数字化运营过程中抵御各类安全风险，保障业务稳定开展。
WY vs ZS — 直观对比
营收规模更大
WY
是对方的2.0倍
$788.1M
营收增速更快
ZS
高出35.3%
-9.8%
净利率更高
WY
高出6.3%
-1.5%
自由现金流更多
ZS
多$559.0M
$-128.0M
两年增速更快
ZS
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $788.1M |
| 净利润 | $74.0M | $-11.6M |
| 毛利率 | 10.4% | 76.6% |
| 营业利润率 | 16.3% | -4.6% |
| 净利率 | 4.8% | -1.5% |
| 营收同比 | -9.8% | 25.5% |
| 净利润同比 | -8.6% | 3.6% |
| 每股收益（稀释后） | $0.11 | $-0.07 |
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WYZS
| Q4 25 | $1.5B | $788.1M | ||
| Q3 25 | $1.7B | $719.2M | ||
| Q2 25 | $1.9B | $678.0M | ||
| Q1 25 | $1.8B | $647.9M | ||
| Q4 24 | $1.7B | $628.0M | ||
| Q3 24 | $1.7B | $592.9M | ||
| Q2 24 | $1.9B | $553.2M | ||
| Q1 24 | $1.8B | $525.0M |
净利润WYZS
| Q4 25 | $74.0M | $-11.6M | ||
| Q3 25 | $80.0M | $-17.6M | ||
| Q2 25 | $87.0M | $-4.1M | ||
| Q1 25 | $83.0M | $-7.7M | ||
| Q4 24 | $81.0M | $-12.1M | ||
| Q3 24 | $28.0M | $-14.9M | ||
| Q2 24 | $173.0M | $19.1M | ||
| Q1 24 | $114.0M | $-28.5M |
毛利率WYZS
| Q4 25 | 10.4% | 76.6% | ||
| Q3 25 | 11.9% | 76.1% | ||
| Q2 25 | 17.3% | 77.0% | ||
| Q1 25 | 19.0% | 77.1% | ||
| Q4 24 | 17.8% | 77.5% | ||
| Q3 24 | 14.9% | 78.0% | ||
| Q2 24 | 20.8% | 78.6% | ||
| Q1 24 | 19.8% | 77.7% |
营业利润率WYZS
| Q4 25 | 16.3% | -4.6% | ||
| Q3 25 | 7.2% | -4.5% | ||
| Q2 25 | 9.4% | -3.7% | ||
| Q1 25 | 10.2% | -6.2% | ||
| Q4 24 | 8.3% | -4.9% | ||
| Q3 24 | 4.6% | -4.5% | ||
| Q2 24 | 13.9% | -0.5% | ||
| Q1 24 | 10.9% | -8.7% |
净利率WYZS
| Q4 25 | 4.8% | -1.5% | ||
| Q3 25 | 4.7% | -2.4% | ||
| Q2 25 | 4.6% | -0.6% | ||
| Q1 25 | 4.7% | -1.2% | ||
| Q4 24 | 4.7% | -1.9% | ||
| Q3 24 | 1.7% | -2.5% | ||
| Q2 24 | 8.9% | 3.5% | ||
| Q1 24 | 6.3% | -5.4% |
每股收益（稀释后）WYZS
| Q4 25 | $0.11 | $-0.07 | ||
| Q3 25 | $0.11 | $-0.11 | ||
| Q2 25 | $0.12 | $-0.03 | ||
| Q1 25 | $0.11 | $-0.05 | ||
| Q4 24 | $0.10 | $-0.08 | ||
| Q3 24 | $0.04 | $-0.09 | ||
| Q2 24 | $0.24 | $0.12 | ||
| Q1 24 | $0.16 | $-0.19 |
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 | $464.0M | $1.3B |
| 总债务越低越好 | $5.6B | — |
| 股东权益账面价值 | $9.4B | $2.0B |
| 总资产 | $16.6B | $6.5B |
| 负债/权益比越低杠杆越低 | 0.59× | — |
8季度趋势，按日历期对齐
现金及短期投资WYZS
| Q4 25 | $464.0M | $1.3B | ||
| Q3 25 | $401.0M | $2.4B | ||
| Q2 25 | $592.0M | $2.0B | ||
| Q1 25 | $560.0M | $1.8B | ||
| Q4 24 | $684.0M | $1.6B | ||
| Q3 24 | $877.0M | $1.4B | ||
| Q2 24 | $997.0M | $1.3B | ||
| Q1 24 | $871.0M | $1.4B |
总债务WYZS
| Q4 25 | $5.6B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $5.1B | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
股东权益WYZS
| Q4 25 | $9.4B | $2.0B | ||
| Q3 25 | $9.4B | $1.8B | ||
| Q2 25 | $9.5B | $1.8B | ||
| Q1 25 | $9.6B | $1.6B | ||
| Q4 24 | $9.7B | $1.4B | ||
| Q3 24 | $9.9B | $1.3B | ||
| Q2 24 | $10.0B | $1.1B | ||
| Q1 24 | $10.1B | $958.9M |
总资产WYZS
| Q4 25 | $16.6B | $6.5B | ||
| Q3 25 | $16.7B | $6.4B | ||
| Q2 25 | $16.5B | $5.3B | ||
| Q1 25 | $16.5B | $5.0B | ||
| Q4 24 | $16.5B | $4.7B | ||
| Q3 24 | $16.7B | $4.7B | ||
| Q2 24 | $16.8B | $4.2B | ||
| Q1 24 | $16.8B | $3.9B |
负债/权益比WYZS
| Q4 25 | 0.59× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 0.52× | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 1.19× |
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 | $-114.0M | $448.3M |
| 自由现金流经营现金流 - 资本支出 | $-128.0M | $431.0M |
| 自由现金流率自由现金流/营收 | -8.3% | 54.7% |
| 资本支出强度资本支出/营收 | 0.9% | 2.2% |
| 现金转化率经营现金流/净利润 | -1.54× | — |
| 过去12个月自由现金流最近4个季度 | $511.0M | $924.9M |
8季度趋势，按日历期对齐
经营现金流WYZS
| Q4 25 | $-114.0M | $448.3M | ||
| Q3 25 | $210.0M | $250.6M | ||
| Q2 25 | $396.0M | $211.1M | ||
| Q1 25 | $70.0M | $179.4M | ||
| Q4 24 | $218.0M | $331.3M | ||
| Q3 24 | $234.0M | $203.6M | ||
| Q2 24 | $432.0M | $173.4M | ||
| Q1 24 | $124.0M | $142.1M |
自由现金流WYZS
| Q4 25 | $-128.0M | $431.0M | ||
| Q3 25 | $203.0M | $190.6M | ||
| Q2 25 | $388.0M | $138.9M | ||
| Q1 25 | $48.0M | $164.4M | ||
| Q4 24 | $205.0M | $314.3M | ||
| Q3 24 | $226.0M | $154.2M | ||
| Q2 24 | $423.0M | $137.8M | ||
| Q1 24 | $102.0M | $111.2M |
自由现金流率WYZS
| Q4 25 | -8.3% | 54.7% | ||
| Q3 25 | 11.8% | 26.5% | ||
| Q2 25 | 20.6% | 20.5% | ||
| Q1 25 | 2.7% | 25.4% | ||
| Q4 24 | 12.0% | 50.1% | ||
| Q3 24 | 13.4% | 26.0% | ||
| Q2 24 | 21.8% | 24.9% | ||
| Q1 24 | 5.7% | 21.2% |
资本支出强度WYZS
| Q4 25 | 0.9% | 2.2% | ||
| Q3 25 | 0.4% | 8.3% | ||
| Q2 25 | 0.4% | 10.6% | ||
| Q1 25 | 1.2% | 2.3% | ||
| Q4 24 | 0.8% | 2.7% | ||
| Q3 24 | 0.5% | 8.3% | ||
| Q2 24 | 0.5% | 6.4% | ||
| Q1 24 | 1.2% | 5.9% |
现金转化率WYZS
| Q4 25 | -1.54× | — | ||
| Q3 25 | 2.63× | — | ||
| Q2 25 | 4.55× | — | ||
| Q1 25 | 0.84× | — | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 8.36× | — | ||
| Q2 24 | 2.50× | 9.07× | ||
| Q1 24 | 1.09× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
