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AAON, INC.（AAON）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是AAON, INC.的1.4倍（$614.5M vs $424.2M），AAON, INC.净利率更高（7.6% vs -2.0%，领先9.5%），AAON, INC.同比增速更快（42.5% vs 33.6%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 27.2%）
AAON公司是商用及工业领域暖通空调设备专业生产商，总部位于美国俄克拉荷马州塔尔萨市，在得克萨斯州朗维尤、密苏里州帕克维尔、俄勒冈州雷德蒙德设有生产基地，全球员工约4000人，年销售额超8.8亿美元。
Cloudflare是总部位于美国加利福尼亚州旧金山的科技企业，提供内容分发网络（CDN）、云网络安全、DDoS防护等多元互联网服务，同时是ICANN认证的域名注册商。其服务作为网站访客与客户托管服务商之间的反向代理，可有效提升访问性能，抵御恶意流量。
AAON vs NET — 直观对比
营收规模更大
NET
是对方的1.4倍
$424.2M
营收增速更快
AAON
高出8.9%
33.6%
净利率更高
AAON
高出9.5%
-2.0%
两年增速更快
NET
近两年复合增速
27.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $424.2M | $614.5M |
| 净利润 | $32.0M | $-12.1M |
| 毛利率 | 25.9% | 73.6% |
| 营业利润率 | 10.4% | -8.0% |
| 净利率 | 7.6% | -2.0% |
| 营收同比 | 42.5% | 33.6% |
| 净利润同比 | 29.7% | 6.0% |
| 每股收益（稀释后） | $0.38 | $-0.03 |
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AAONNET
| Q4 25 | $424.2M | $614.5M | ||
| Q3 25 | $384.2M | $562.0M | ||
| Q2 25 | $311.6M | $512.3M | ||
| Q1 25 | $322.1M | $479.1M | ||
| Q4 24 | $297.7M | $459.9M | ||
| Q3 24 | $327.3M | $430.1M | ||
| Q2 24 | $313.6M | $401.0M | ||
| Q1 24 | $262.1M | $378.6M |
净利润AAONNET
| Q4 25 | $32.0M | $-12.1M | ||
| Q3 25 | $30.8M | $-1.3M | ||
| Q2 25 | $15.5M | $-50.4M | ||
| Q1 25 | $29.3M | $-38.5M | ||
| Q4 24 | $24.7M | $-12.8M | ||
| Q3 24 | $52.6M | $-15.3M | ||
| Q2 24 | $52.2M | $-15.1M | ||
| Q1 24 | $39.0M | $-35.5M |
毛利率AAONNET
| Q4 25 | 25.9% | 73.6% | ||
| Q3 25 | 27.8% | 74.0% | ||
| Q2 25 | 26.6% | 74.9% | ||
| Q1 25 | 26.8% | 75.9% | ||
| Q4 24 | 26.1% | 76.4% | ||
| Q3 24 | 34.9% | 77.7% | ||
| Q2 24 | 36.1% | 77.8% | ||
| Q1 24 | 35.2% | 77.5% |
营业利润率AAONNET
| Q4 25 | 10.4% | -8.0% | ||
| Q3 25 | 11.3% | -6.7% | ||
| Q2 25 | 7.6% | -13.1% | ||
| Q1 25 | 10.9% | -11.1% | ||
| Q4 24 | 9.9% | -7.5% | ||
| Q3 24 | 20.0% | -7.2% | ||
| Q2 24 | 21.4% | -8.7% | ||
| Q1 24 | 17.9% | -14.4% |
净利率AAONNET
| Q4 25 | 7.6% | -2.0% | ||
| Q3 25 | 8.0% | -0.2% | ||
| Q2 25 | 5.0% | -9.8% | ||
| Q1 25 | 9.1% | -8.0% | ||
| Q4 24 | 8.3% | -2.8% | ||
| Q3 24 | 16.1% | -3.6% | ||
| Q2 24 | 16.7% | -3.8% | ||
| Q1 24 | 14.9% | -9.4% |
每股收益（稀释后）AAONNET
| Q4 25 | $0.38 | $-0.03 | ||
| Q3 25 | $0.37 | $0.00 | ||
| Q2 25 | $0.19 | $-0.15 | ||
| Q1 25 | $0.35 | $-0.11 | ||
| Q4 24 | $0.31 | $-0.05 | ||
| Q3 24 | $0.63 | $-0.04 | ||
| Q2 24 | $0.62 | $-0.04 | ||
| Q1 24 | $0.46 | $-0.10 |
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 | $13.0K | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $895.0M | $1.5B |
| 总资产 | $1.7B | $6.0B |
| 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AAONNET
| Q4 25 | $13.0K | $943.5M | ||
| Q3 25 | $1.0M | $1.1B | ||
| Q2 25 | $14.0K | $1.5B | ||
| Q1 25 | $994.0K | $204.5M | ||
| Q4 24 | $14.0K | $147.7M | ||
| Q3 24 | $15.0K | $182.9M | ||
| Q2 24 | $13.0K | $157.0M | ||
| Q1 24 | $8.4M | $254.4M |
股东权益AAONNET
| Q4 25 | $895.0M | $1.5B | ||
| Q3 25 | $863.1M | $1.3B | ||
| Q2 25 | $832.7M | $1.2B | ||
| Q1 25 | $815.9M | $1.4B | ||
| Q4 24 | $824.6M | $1.0B | ||
| Q3 24 | $796.9M | $973.1M | ||
| Q2 24 | $740.5M | $881.5M | ||
| Q1 24 | $784.8M | $797.2M |
总资产AAONNET
| Q4 25 | $1.7B | $6.0B | ||
| Q3 25 | $1.5B | $5.8B | ||
| Q2 25 | $1.4B | $5.6B | ||
| Q1 25 | $1.3B | $3.7B | ||
| Q4 24 | $1.2B | $3.3B | ||
| Q3 24 | $1.0B | $3.1B | ||
| Q2 24 | $1.0B | $2.9B | ||
| Q1 24 | $952.9M | $2.8B |
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 | $19.3M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | — | $105.2M |
| 自由现金流率自由现金流/营收 | — | 17.1% |
| 资本支出强度资本支出/营收 | — | 13.9% |
| 现金转化率经营现金流/净利润 | 0.60× | — |
| 过去12个月自由现金流最近4个季度 | — | $287.5M |
8季度趋势，按日历期对齐
经营现金流AAONNET
| Q4 25 | $19.3M | $190.4M | ||
| Q3 25 | $12.3M | $167.1M | ||
| Q2 25 | $-21.8M | $99.8M | ||
| Q1 25 | $-9.2M | $145.8M | ||
| Q4 24 | $845.0K | $127.3M | ||
| Q3 24 | $63.8M | $104.7M | ||
| Q2 24 | $35.5M | $74.8M | ||
| Q1 24 | $92.4M | $73.6M |
自由现金流AAONNET
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M | ||
| Q1 24 | — | $41.5M |
自由现金流率AAONNET
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 11.0% |
资本支出强度AAONNET
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 8.5% |
现金转化率AAONNET
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | -1.41× | — | ||
| Q1 25 | -0.31× | — | ||
| Q4 24 | 0.03× | — | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 2.37× | — |
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
AAON
| AAON Oklahoma | $215.5M | 51% |
| Bas X | $106.1M | 25% |
| AAON Coil Products | $102.6M | 24% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
