vs
传奇娱乐（ACEL）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.的季度营收约是传奇娱乐的1.8倍（$614.5M vs $341.4M），传奇娱乐净利率更高（4.7% vs -2.0%，领先6.7%），Cloudflare, Inc.同比增速更快（33.6% vs 7.5%），Cloudflare, Inc.自由现金流更多（$105.2M vs $16.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.4%）
传奇娱乐是一家美国大众传媒与电影制作公司，总部位于加利福尼亚州伯班克，由托马斯·图尔于2000年创立。该公司长期与华纳兄弟影业、环球影业、索尼影视、派拉蒙影业等主流制片厂，以及网飞、葫芦等流媒体平台展开合作。
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。
ACEL vs NET — 直观对比
营收规模更大
NET
是对方的1.8倍
$341.4M
营收增速更快
NET
高出26.1%
7.5%
净利率更高
ACEL
高出6.7%
-2.0%
自由现金流更多
NET
多$89.3M
$16.0M
两年增速更快
NET
近两年复合增速
6.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $341.4M | $614.5M |
| 净利润 | $16.2M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 8.7% | -8.0% |
| 净利率 | 4.7% | -2.0% |
| 营收同比 | 7.5% | 33.6% |
| 净利润同比 | 93.3% | 6.0% |
| 每股收益（稀释后） | $0.19 | $-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ACELNET
| Q4 25 | $341.4M | $614.5M | ||
| Q3 25 | $329.7M | $562.0M | ||
| Q2 25 | $335.9M | $512.3M | ||
| Q1 25 | $323.9M | $479.1M | ||
| Q4 24 | $317.5M | $459.9M | ||
| Q3 24 | $302.2M | $430.1M | ||
| Q2 24 | $309.4M | $401.0M | ||
| Q1 24 | $301.8M | $378.6M |
净利润ACELNET
| Q4 25 | $16.2M | $-12.1M | ||
| Q3 25 | $13.4M | $-1.3M | ||
| Q2 25 | $7.3M | $-50.4M | ||
| Q1 25 | $14.6M | $-38.5M | ||
| Q4 24 | $8.4M | $-12.8M | ||
| Q3 24 | $4.9M | $-15.3M | ||
| Q2 24 | $14.6M | $-15.1M | ||
| Q1 24 | $7.4M | $-35.5M |
毛利率ACELNET
| 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ACELNET
| Q4 25 | 8.7% | -8.0% | ||
| Q3 25 | 7.7% | -6.7% | ||
| Q2 25 | 8.0% | -13.1% | ||
| Q1 25 | 8.0% | -11.1% | ||
| Q4 24 | 6.5% | -7.5% | ||
| Q3 24 | 7.2% | -7.2% | ||
| Q2 24 | 7.3% | -8.7% | ||
| Q1 24 | 8.5% | -14.4% |
净利率ACELNET
| Q4 25 | 4.7% | -2.0% | ||
| Q3 25 | 4.1% | -0.2% | ||
| Q2 25 | 2.2% | -9.8% | ||
| Q1 25 | 4.5% | -8.0% | ||
| Q4 24 | 2.6% | -2.8% | ||
| Q3 24 | 1.6% | -3.6% | ||
| Q2 24 | 4.7% | -3.8% | ||
| Q1 24 | 2.5% | -9.4% |
每股收益（稀释后）ACELNET
| Q4 25 | $0.19 | $-0.03 | ||
| Q3 25 | $0.16 | $0.00 | ||
| Q2 25 | $0.08 | $-0.15 | ||
| Q1 25 | $0.17 | $-0.11 | ||
| Q4 24 | $0.09 | $-0.05 | ||
| Q3 24 | $0.06 | $-0.04 | ||
| Q2 24 | $0.17 | $-0.04 | ||
| Q1 24 | $0.09 | $-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 | $296.6M | $943.5M |
| 总债务越低越好 | $607.4M | — |
| 股东权益账面价值 | $269.7M | $1.5B |
| 总资产 | $1.1B | $6.0B |
| 负债/权益比越低杠杆越低 | 2.25× | — |
8季度趋势，按日历期对齐
现金及短期投资ACELNET
| Q4 25 | $296.6M | $943.5M | ||
| Q3 25 | $290.2M | $1.1B | ||
| Q2 25 | $264.6M | $1.5B | ||
| Q1 25 | $271.9M | $204.5M | ||
| Q4 24 | $281.3M | $147.7M | ||
| Q3 24 | $265.1M | $182.9M | ||
| Q2 24 | $254.9M | $157.0M | ||
| Q1 24 | $253.9M | $254.4M |
总债务ACELNET
| Q4 25 | $607.4M | — | ||
| Q3 25 | $595.4M | — | ||
| Q2 25 | $595.5M | — | ||
| Q1 25 | $580.7M | — | ||
| Q4 24 | $595.4M | — | ||
| Q3 24 | $554.1M | — | ||
| Q2 24 | $565.7M | — | ||
| Q1 24 | $539.9M | — |
股东权益ACELNET
| Q4 25 | $269.7M | $1.5B | ||
| Q3 25 | $267.1M | $1.3B | ||
| Q2 25 | $260.5M | $1.2B | ||
| Q1 25 | $259.1M | $1.4B | ||
| Q4 24 | $255.0M | $1.0B | ||
| Q3 24 | $206.7M | $973.1M | ||
| Q2 24 | $209.1M | $881.5M | ||
| Q1 24 | $202.1M | $797.2M |
总资产ACELNET
| Q4 25 | $1.1B | $6.0B | ||
| Q3 25 | $1.1B | $5.8B | ||
| Q2 25 | $1.1B | $5.6B | ||
| Q1 25 | $1.0B | $3.7B | ||
| Q4 24 | $1.0B | $3.3B | ||
| Q3 24 | $950.2M | $3.1B | ||
| Q2 24 | $950.3M | $2.9B | ||
| Q1 24 | $919.1M | $2.8B |
负债/权益比ACELNET
| Q4 25 | 2.25× | — | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.24× | — | ||
| Q4 24 | 2.33× | — | ||
| Q3 24 | 2.68× | — | ||
| Q2 24 | 2.71× | — | ||
| Q1 24 | 2.67× | — |
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 | $31.1M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $16.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 4.7% | 17.1% |
| 资本支出强度资本支出/营收 | 4.4% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.92× | — |
| 过去12个月自由现金流最近4个季度 | $62.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流ACELNET
| Q4 25 | $31.1M | $190.4M | ||
| Q3 25 | $55.2M | $167.1M | ||
| Q2 25 | $19.8M | $99.8M | ||
| Q1 25 | $44.8M | $145.8M | ||
| Q4 24 | $13.5M | $127.3M | ||
| Q3 24 | $50.1M | $104.7M | ||
| Q2 24 | $28.9M | $74.8M | ||
| Q1 24 | $28.8M | $73.6M |
自由现金流ACELNET
| Q4 25 | $16.0M | $105.2M | ||
| Q3 25 | $34.2M | $82.5M | ||
| Q2 25 | $-6.2M | $39.9M | ||
| Q1 25 | $18.0M | $59.9M | ||
| Q4 24 | $2.1M | $54.2M | ||
| Q3 24 | $33.1M | $54.5M | ||
| Q2 24 | $11.4M | $45.2M | ||
| Q1 24 | $8.1M | $41.5M |
自由现金流率ACELNET
| Q4 25 | 4.7% | 17.1% | ||
| Q3 25 | 10.4% | 14.7% | ||
| Q2 25 | -1.9% | 7.8% | ||
| Q1 25 | 5.6% | 12.5% | ||
| Q4 24 | 0.7% | 11.8% | ||
| Q3 24 | 11.0% | 12.7% | ||
| Q2 24 | 3.7% | 11.3% | ||
| Q1 24 | 2.7% | 11.0% |
资本支出强度ACELNET
| Q4 25 | 4.4% | 13.9% | ||
| Q3 25 | 6.4% | 15.1% | ||
| Q2 25 | 7.8% | 11.7% | ||
| Q1 25 | 8.3% | 17.9% | ||
| Q4 24 | 3.6% | 15.9% | ||
| Q3 24 | 5.6% | 11.7% | ||
| Q2 24 | 5.7% | 7.4% | ||
| Q1 24 | 6.8% | 8.5% |
现金转化率ACELNET
| Q4 25 | 1.92× | — | ||
| Q3 25 | 4.13× | — | ||
| Q2 25 | 2.71× | — | ||
| Q1 25 | 3.06× | — | ||
| Q4 24 | 1.62× | — | ||
| Q3 24 | 10.23× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 3.88× | — |
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
ACEL
| Video Gaming | $319.1M | 93% |
| ATM Fees And Other Revenue | $13.5M | 4% |
| Amusement | $5.3M | 2% |
| Manufacturing | $3.6M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
