vs
ProFrac Holding Corp.（ACDC）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ProFrac Holding Corp.的1.4倍（$614.5M vs $436.5M），Cloudflare, Inc.净利率更高（-2.0% vs -33.2%，领先31.2%），Cloudflare, Inc.同比增速更快（33.6% vs -4.0%），Cloudflare, Inc.自由现金流更多（$105.2M vs $12.9M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -13.4%）
ProFrac Holding Corp.是一家领先的北美能源服务企业，主要为油气勘探开采企业提供水力压裂、完井及相关配套服务，核心客户覆盖美国、加拿大主要陆上页岩及常规油气产区的上游运营商。
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。
ACDC vs NET — 直观对比
营收规模更大
NET
是对方的1.4倍
$436.5M
营收增速更快
NET
高出37.6%
-4.0%
净利率更高
NET
高出31.2%
-33.2%
自由现金流更多
NET
多$92.3M
$12.9M
两年增速更快
NET
近两年复合增速
-13.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $436.5M | $614.5M |
| 净利润 | $-144.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | -24.9% | -8.0% |
| 净利率 | -33.2% | -2.0% |
| 营收同比 | -4.0% | 33.6% |
| 净利润同比 | -37.8% | 6.0% |
| 每股收益（稀释后） | $-0.83 | $-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ACDCNET
| Q4 25 | $436.5M | $614.5M | ||
| Q3 25 | $403.1M | $562.0M | ||
| Q2 25 | $501.9M | $512.3M | ||
| Q1 25 | $600.3M | $479.1M | ||
| Q4 24 | $454.7M | $459.9M | ||
| Q3 24 | $575.3M | $430.1M | ||
| Q2 24 | $579.4M | $401.0M | ||
| Q1 24 | $581.5M | $378.6M |
净利润ACDCNET
| Q4 25 | $-144.7M | $-12.1M | ||
| Q3 25 | $-100.9M | $-1.3M | ||
| Q2 25 | $-105.9M | $-50.4M | ||
| Q1 25 | $-17.5M | $-38.5M | ||
| Q4 24 | $-105.0M | $-12.8M | ||
| Q3 24 | $-45.2M | $-15.3M | ||
| Q2 24 | $-66.7M | $-15.1M | ||
| Q1 24 | $1.8M | $-35.5M |
毛利率ACDCNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.5% |
营业利润率ACDCNET
| Q4 25 | -24.9% | -8.0% | ||
| Q3 25 | -19.5% | -6.7% | ||
| Q2 25 | -10.8% | -13.1% | ||
| Q1 25 | 2.7% | -11.1% | ||
| Q4 24 | -10.3% | -7.5% | ||
| Q3 24 | -0.7% | -7.2% | ||
| Q2 24 | -8.5% | -8.7% | ||
| Q1 24 | 6.9% | -14.4% |
净利率ACDCNET
| Q4 25 | -33.2% | -2.0% | ||
| Q3 25 | -25.0% | -0.2% | ||
| Q2 25 | -21.1% | -9.8% | ||
| Q1 25 | -2.9% | -8.0% | ||
| Q4 24 | -23.1% | -2.8% | ||
| Q3 24 | -7.9% | -3.6% | ||
| Q2 24 | -11.5% | -3.8% | ||
| Q1 24 | 0.3% | -9.4% |
每股收益（稀释后）ACDCNET
| Q4 25 | $-0.83 | $-0.03 | ||
| Q3 25 | $-0.60 | $0.00 | ||
| Q2 25 | $-0.67 | $-0.15 | ||
| Q1 25 | $-0.12 | $-0.11 | ||
| Q4 24 | $-0.67 | $-0.05 | ||
| Q3 24 | $-0.29 | $-0.04 | ||
| Q2 24 | $-0.42 | $-0.04 | ||
| Q1 24 | $0.00 | $-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 | $22.9M | $943.5M |
| 总债务越低越好 | $832.7M | — |
| 股东权益账面价值 | $717.5M | $1.5B |
| 总资产 | $2.6B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.16× | — |
8季度趋势，按日历期对齐
现金及短期投资ACDCNET
| Q4 25 | $22.9M | $943.5M | ||
| Q3 25 | $58.0M | $1.1B | ||
| Q2 25 | $26.0M | $1.5B | ||
| Q1 25 | $16.0M | $204.5M | ||
| Q4 24 | $14.8M | $147.7M | ||
| Q3 24 | $25.5M | $182.9M | ||
| Q2 24 | $24.0M | $157.0M | ||
| Q1 24 | $28.3M | $254.4M |
总债务ACDCNET
| Q4 25 | $832.7M | — | ||
| Q3 25 | $907.0M | — | ||
| Q2 25 | $941.9M | — | ||
| Q1 25 | $967.9M | — | ||
| Q4 24 | $936.1M | — | ||
| Q3 24 | $986.7M | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $895.1M | — |
股东权益ACDCNET
| Q4 25 | $717.5M | $1.5B | ||
| Q3 25 | $862.0M | $1.3B | ||
| Q2 25 | $875.5M | $1.2B | ||
| Q1 25 | $988.1M | $1.4B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $1.1B | $973.1M | ||
| Q2 24 | $1.1B | $881.5M | ||
| Q1 24 | $1.2B | $797.2M |
总资产ACDCNET
| Q4 25 | $2.6B | $6.0B | ||
| Q3 25 | $2.7B | $5.8B | ||
| Q2 25 | $2.8B | $5.6B | ||
| Q1 25 | $3.0B | $3.7B | ||
| Q4 24 | $3.0B | $3.3B | ||
| Q3 24 | $3.1B | $3.1B | ||
| Q2 24 | $3.2B | $2.9B | ||
| Q1 24 | $3.0B | $2.8B |
负债/权益比ACDCNET
| Q4 25 | 1.16× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 0.90× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.74× | — |
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 | $49.5M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $12.9M | $105.2M |
| 自由现金流率自由现金流/营收 | 3.0% | 17.1% |
| 资本支出强度资本支出/营收 | 8.4% | 13.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $19.6M | $287.5M |
8季度趋势，按日历期对齐
经营现金流ACDCNET
| Q4 25 | $49.5M | $190.4M | ||
| Q3 25 | $900.0K | $167.1M | ||
| Q2 25 | $100.4M | $99.8M | ||
| Q1 25 | $38.7M | $145.8M | ||
| Q4 24 | $76.5M | $127.3M | ||
| Q3 24 | $98.2M | $104.7M | ||
| Q2 24 | $113.5M | $74.8M | ||
| Q1 24 | $79.1M | $73.6M |
自由现金流ACDCNET
| Q4 25 | $12.9M | $105.2M | ||
| Q3 25 | $-33.4M | $82.5M | ||
| Q2 25 | $53.9M | $39.9M | ||
| Q1 25 | $-13.8M | $59.9M | ||
| Q4 24 | $13.3M | $54.2M | ||
| Q3 24 | $28.2M | $54.5M | ||
| Q2 24 | $51.6M | $45.2M | ||
| Q1 24 | $19.2M | $41.5M |
自由现金流率ACDCNET
| Q4 25 | 3.0% | 17.1% | ||
| Q3 25 | -8.3% | 14.7% | ||
| Q2 25 | 10.7% | 7.8% | ||
| Q1 25 | -2.3% | 12.5% | ||
| Q4 24 | 2.9% | 11.8% | ||
| Q3 24 | 4.9% | 12.7% | ||
| Q2 24 | 8.9% | 11.3% | ||
| Q1 24 | 3.3% | 11.0% |
资本支出强度ACDCNET
| Q4 25 | 8.4% | 13.9% | ||
| Q3 25 | 8.5% | 15.1% | ||
| Q2 25 | 9.3% | 11.7% | ||
| Q1 25 | 8.7% | 17.9% | ||
| Q4 24 | 13.9% | 15.9% | ||
| Q3 24 | 12.2% | 11.7% | ||
| Q2 24 | 10.7% | 7.4% | ||
| Q1 24 | 10.3% | 8.5% |
现金转化率ACDCNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 43.94× | — |
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
ACDC
| Services | $385.6M | 88% |
| Products | $50.9M | 12% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
