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Arcosa, Inc.（ACA）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Arcosa, Inc.的季度营收约是Cloudflare, Inc.的1.2倍（$716.7M vs $614.5M），Arcosa, Inc.净利率更高（7.3% vs -2.0%，领先9.2%），Cloudflare, Inc.同比增速更快（33.6% vs 7.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $55.8M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 9.4%）
Arcosa, Inc.是一家基础设施相关产品及解决方案提供商，业务覆盖建筑、能源、交通三大核心板块，主营公用设施结构件、建筑集料、交通零部件等产品，主要面向北美市场客户，为各类关键基础设施建设项目提供支持。
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。
ACA vs NET — 直观对比
营收规模更大
ACA
是对方的1.2倍
$614.5M
营收增速更快
NET
高出26.0%
7.6%
净利率更高
ACA
高出9.2%
-2.0%
自由现金流更多
NET
多$49.4M
$55.8M
两年增速更快
NET
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $716.7M | $614.5M |
| 净利润 | $52.1M | $-12.1M |
| 毛利率 | 22.9% | 73.6% |
| 营业利润率 | 11.0% | -8.0% |
| 净利率 | 7.3% | -2.0% |
| 营收同比 | 7.6% | 33.6% |
| 净利润同比 | 776.6% | 6.0% |
| 每股收益（稀释后） | $1.06 | $-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ACANET
| Q4 25 | $716.7M | $614.5M | ||
| Q3 25 | $797.8M | $562.0M | ||
| Q2 25 | $736.9M | $512.3M | ||
| Q1 25 | $632.0M | $479.1M | ||
| Q4 24 | $666.2M | $459.9M | ||
| Q3 24 | $640.4M | $430.1M | ||
| Q2 24 | $664.7M | $401.0M | ||
| Q1 24 | $598.6M | $378.6M |
净利润ACANET
| Q4 25 | $52.1M | $-12.1M | ||
| Q3 25 | $73.0M | $-1.3M | ||
| Q2 25 | $59.7M | $-50.4M | ||
| Q1 25 | $23.6M | $-38.5M | ||
| Q4 24 | $-7.7M | $-12.8M | ||
| Q3 24 | $16.6M | $-15.3M | ||
| Q2 24 | $45.6M | $-15.1M | ||
| Q1 24 | $39.2M | $-35.5M |
毛利率ACANET
| Q4 25 | 22.9% | 73.6% | ||
| Q3 25 | 24.1% | 74.0% | ||
| Q2 25 | 22.5% | 74.9% | ||
| Q1 25 | 19.8% | 75.9% | ||
| Q4 24 | 19.3% | 76.4% | ||
| Q3 24 | 21.3% | 77.7% | ||
| Q2 24 | 20.8% | 77.8% | ||
| Q1 24 | 18.6% | 77.5% |
营业利润率ACANET
| Q4 25 | 11.0% | -8.0% | ||
| Q3 25 | 14.1% | -6.7% | ||
| Q2 25 | 12.9% | -13.1% | ||
| Q1 25 | 8.8% | -11.1% | ||
| Q4 24 | 6.5% | -7.5% | ||
| Q3 24 | 5.3% | -7.2% | ||
| Q2 24 | 10.1% | -8.7% | ||
| Q1 24 | 8.9% | -14.4% |
净利率ACANET
| Q4 25 | 7.3% | -2.0% | ||
| Q3 25 | 9.2% | -0.2% | ||
| Q2 25 | 8.1% | -9.8% | ||
| Q1 25 | 3.7% | -8.0% | ||
| Q4 24 | -1.2% | -2.8% | ||
| Q3 24 | 2.6% | -3.6% | ||
| Q2 24 | 6.9% | -3.8% | ||
| Q1 24 | 6.5% | -9.4% |
每股收益（稀释后）ACANET
| Q4 25 | $1.06 | $-0.03 | ||
| Q3 25 | $1.48 | $0.00 | ||
| Q2 25 | $1.22 | $-0.15 | ||
| Q1 25 | $0.48 | $-0.11 | ||
| Q4 24 | $-0.16 | $-0.05 | ||
| Q3 24 | $0.34 | $-0.04 | ||
| Q2 24 | $0.93 | $-0.04 | ||
| Q1 24 | $0.80 | $-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 | $214.6M | $943.5M |
| 总债务越低越好 | $1.5B | — |
| 股东权益账面价值 | $2.6B | $1.5B |
| 总资产 | $5.0B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.57× | — |
8季度趋势，按日历期对齐
现金及短期投资ACANET
| Q4 25 | $214.6M | $943.5M | ||
| Q3 25 | $220.0M | $1.1B | ||
| Q2 25 | $189.7M | $1.5B | ||
| Q1 25 | $167.9M | $204.5M | ||
| Q4 24 | $187.3M | $147.7M | ||
| Q3 24 | $756.8M | $182.9M | ||
| Q2 24 | $103.7M | $157.0M | ||
| Q1 24 | $176.5M | $254.4M |
总债务ACANET
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $699.9M | — | ||
| Q1 24 | $600.6M | — |
股东权益ACANET
| Q4 25 | $2.6B | $1.5B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.5B | $1.2B | ||
| Q1 25 | $2.5B | $1.4B | ||
| Q4 24 | $2.4B | $1.0B | ||
| Q3 24 | $2.4B | $973.1M | ||
| Q2 24 | $2.4B | $881.5M | ||
| Q1 24 | $2.4B | $797.2M |
总资产ACANET
| Q4 25 | $5.0B | $6.0B | ||
| Q3 25 | $5.1B | $5.8B | ||
| Q2 25 | $5.0B | $5.6B | ||
| Q1 25 | $4.9B | $3.7B | ||
| Q4 24 | $4.9B | $3.3B | ||
| Q3 24 | $4.4B | $3.1B | ||
| Q2 24 | $3.8B | $2.9B | ||
| Q1 24 | $3.7B | $2.8B |
负债/权益比ACANET
| Q4 25 | 0.57× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.29× | — | ||
| Q1 24 | 0.25× | — |
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 | $120.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $105.2M |
| 自由现金流率自由现金流/营收 | 7.8% | 17.1% |
| 资本支出强度资本支出/营收 | 9.0% | 13.9% |
| 现金转化率经营现金流/净利润 | 2.30× | — |
| 过去12个月自由现金流最近4个季度 | $175.5M | $287.5M |
8季度趋势，按日历期对齐
经营现金流ACANET
| Q4 25 | $120.0M | $190.4M | ||
| Q3 25 | $160.6M | $167.1M | ||
| Q2 25 | $61.2M | $99.8M | ||
| Q1 25 | $-700.0K | $145.8M | ||
| Q4 24 | $248.2M | $127.3M | ||
| Q3 24 | $135.0M | $104.7M | ||
| Q2 24 | $38.3M | $74.8M | ||
| Q1 24 | $80.5M | $73.6M |
自由现金流ACANET
| Q4 25 | $55.8M | $105.2M | ||
| Q3 25 | $121.0M | $82.5M | ||
| Q2 25 | $33.4M | $39.9M | ||
| Q1 25 | $-34.7M | $59.9M | ||
| Q4 24 | $194.9M | $54.2M | ||
| Q3 24 | $100.6M | $54.5M | ||
| Q2 24 | $-9.3M | $45.2M | ||
| Q1 24 | $26.1M | $41.5M |
自由现金流率ACANET
| Q4 25 | 7.8% | 17.1% | ||
| Q3 25 | 15.2% | 14.7% | ||
| Q2 25 | 4.5% | 7.8% | ||
| Q1 25 | -5.5% | 12.5% | ||
| Q4 24 | 29.3% | 11.8% | ||
| Q3 24 | 15.7% | 12.7% | ||
| Q2 24 | -1.4% | 11.3% | ||
| Q1 24 | 4.4% | 11.0% |
资本支出强度ACANET
| Q4 25 | 9.0% | 13.9% | ||
| Q3 25 | 5.0% | 15.1% | ||
| Q2 25 | 3.8% | 11.7% | ||
| Q1 25 | 5.4% | 17.9% | ||
| Q4 24 | 8.0% | 15.9% | ||
| Q3 24 | 5.4% | 11.7% | ||
| Q2 24 | 7.2% | 7.4% | ||
| Q1 24 | 9.1% | 8.5% |
现金转化率ACANET
| Q4 25 | 2.30× | — | ||
| Q3 25 | 2.20× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | -0.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.13× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 2.05× | — |
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
ACA
| Engineered Structures | $301.1M | 42% |
| Total Construction Materials | $276.8M | 39% |
| Specialty Materials And Asphalt | $110.2M | 15% |
| Construction Site Support | $28.6M | 4% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
