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奥多比（ADBE）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
奥多比的季度营收约是Cloudflare, Inc.的10.4倍（$6.4B vs $614.5M）。奥多比净利率更高（29.5% vs -2.0%，领先31.5%）。Cloudflare, Inc.同比增速更快（33.6% vs 12.0%）。奥多比自由现金流更多（$2.9B vs $105.2M）。过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 9.8%）
奥多比（Adobe Inc.）前身为奥多比系统公司，是总部位于美国加利福尼亚州圣何塞的跨国计算机软件企业。旗下产品覆盖网页设计、图像处理、矢量创作、音视频编辑、移动应用开发、印刷排版、动画制作等多个领域，是全球领先的数字创意软件服务商。
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。
ADBE vs NET — 直观对比
营收规模更大
ADBE
是对方的10.4倍
$614.5M
营收增速更快
NET
高出21.6%
12.0%
净利率更高
ADBE
高出31.5%
-2.0%
自由现金流更多
ADBE
多$2.8B
$105.2M
两年增速更快
NET
近两年复合增速
9.8%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.4B | $614.5M |
| 净利润 | $1.9B | $-12.1M |
| 毛利率 | 89.6% | 73.6% |
| 营业利润率 | 37.8% | -8.0% |
| 净利率 | 29.5% | -2.0% |
| 营收同比 | 12.0% | 33.6% |
| 净利润同比 | 4.3% | 6.0% |
| 每股收益（稀释后） | $4.60 | $-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ADBENET
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.2B | $614.5M | ||
| Q3 25 | $6.0B | $562.0M | ||
| Q2 25 | $5.9B | $512.3M | ||
| Q1 25 | $5.7B | $479.1M | ||
| Q4 24 | $5.6B | $459.9M | ||
| Q3 24 | $5.4B | $430.1M | ||
| Q2 24 | $5.3B | $401.0M |
净利润ADBENET
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $-12.1M | ||
| Q3 25 | $1.8B | $-1.3M | ||
| Q2 25 | $1.7B | $-50.4M | ||
| Q1 25 | $1.8B | $-38.5M | ||
| Q4 24 | $1.7B | $-12.8M | ||
| Q3 24 | $1.7B | $-15.3M | ||
| Q2 24 | $1.6B | $-15.1M |
毛利率ADBENET
| Q1 26 | 89.6% | — | ||
| Q4 25 | 89.5% | 73.6% | ||
| Q3 25 | 89.3% | 74.0% | ||
| Q2 25 | 89.1% | 74.9% | ||
| Q1 25 | 89.1% | 75.9% | ||
| Q4 24 | 89.0% | 76.4% | ||
| Q3 24 | 89.8% | 77.7% | ||
| Q2 24 | 88.7% | 77.8% |
营业利润率ADBENET
| Q1 26 | 37.8% | — | ||
| Q4 25 | 36.5% | -8.0% | ||
| Q3 25 | 36.3% | -6.7% | ||
| Q2 25 | 35.9% | -13.1% | ||
| Q1 25 | 37.9% | -11.1% | ||
| Q4 24 | 34.9% | -7.5% | ||
| Q3 24 | 36.8% | -7.2% | ||
| Q2 24 | 35.5% | -8.7% |
净利率ADBENET
| Q1 26 | 29.5% | — | ||
| Q4 25 | 30.0% | -2.0% | ||
| Q3 25 | 29.6% | -0.2% | ||
| Q2 25 | 28.8% | -9.8% | ||
| Q1 25 | 31.7% | -8.0% | ||
| Q4 24 | 30.0% | -2.8% | ||
| Q3 24 | 31.1% | -3.6% | ||
| Q2 24 | 29.6% | -3.8% |
每股收益（稀释后）ADBENET
| Q1 26 | $4.60 | — | ||
| Q4 25 | $4.44 | $-0.03 | ||
| Q3 25 | $4.18 | $0.00 | ||
| Q2 25 | $3.94 | $-0.15 | ||
| Q1 25 | $4.14 | $-0.11 | ||
| Q4 24 | $3.75 | $-0.05 | ||
| Q3 24 | $3.76 | $-0.04 | ||
| Q2 24 | $3.49 | $-0.04 |
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 | $6.9B | $943.5M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $11.4B | $1.5B |
| 总资产 | $29.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.47× | — |
8季度趋势，按日历期对齐
现金及短期投资ADBENET
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.6B | $943.5M | ||
| Q3 25 | $5.9B | $1.1B | ||
| Q2 25 | $5.7B | $1.5B | ||
| Q1 25 | $7.4B | $204.5M | ||
| Q4 24 | $7.9B | $147.7M | ||
| Q3 24 | $7.5B | $182.9M | ||
| Q2 24 | $8.1B | $157.0M |
总债务ADBENET
| Q1 26 | $5.4B | — | ||
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $6.2B | — | ||
| Q1 25 | $6.2B | — | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.1B | — | ||
| Q2 24 | $4.1B | — |
股东权益ADBENET
| Q1 26 | $11.4B | — | ||
| Q4 25 | $11.6B | $1.5B | ||
| Q3 25 | $11.8B | $1.3B | ||
| Q2 25 | $11.4B | $1.2B | ||
| Q1 25 | $13.1B | $1.4B | ||
| Q4 24 | $14.1B | $1.0B | ||
| Q3 24 | $14.5B | $973.1M | ||
| Q2 24 | $14.8B | $881.5M |
总资产ADBENET
| Q1 26 | $29.7B | — | ||
| Q4 25 | $29.5B | $6.0B | ||
| Q3 25 | $28.8B | $5.8B | ||
| Q2 25 | $28.1B | $5.6B | ||
| Q1 25 | $30.0B | $3.7B | ||
| Q4 24 | $30.2B | $3.3B | ||
| Q3 24 | $29.8B | $3.1B | ||
| Q2 24 | $30.0B | $2.9B |
负债/权益比ADBENET
| Q1 26 | 0.47× | — | ||
| Q4 25 | 0.53× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.28× | — | ||
| Q2 24 | 0.28× | — |
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 | $3.0B | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $2.9B | $105.2M |
| 自由现金流率自由现金流/营收 | 45.7% | 17.1% |
| 资本支出强度资本支出/营收 | 0.6% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.57× | — |
| 过去12个月自由现金流最近4个季度 | $10.3B | $287.5M |
8季度趋势，按日历期对齐
经营现金流ADBENET
| Q1 26 | $3.0B | — | ||
| Q4 25 | $3.2B | $190.4M | ||
| Q3 25 | $2.2B | $167.1M | ||
| Q2 25 | $2.2B | $99.8M | ||
| Q1 25 | $2.5B | $145.8M | ||
| Q4 24 | — | $127.3M | ||
| Q3 24 | $2.0B | $104.7M | ||
| Q2 24 | $1.9B | $74.8M |
自由现金流ADBENET
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $105.2M | ||
| Q3 25 | $2.1B | $82.5M | ||
| Q2 25 | $2.1B | $39.9M | ||
| Q1 25 | $2.5B | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | $2.0B | $54.5M | ||
| Q2 24 | $1.9B | $45.2M |
自由现金流率ADBENET
| Q1 26 | 45.7% | — | ||
| Q4 25 | 50.5% | 17.1% | ||
| Q3 25 | 35.5% | 14.7% | ||
| Q2 25 | 36.5% | 7.8% | ||
| Q1 25 | 43.0% | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 36.3% | 12.7% | ||
| Q2 24 | 35.8% | 11.3% |
资本支出强度ADBENET
| Q1 26 | 0.6% | — | ||
| Q4 25 | 0.5% | 13.9% | ||
| Q3 25 | 1.2% | 15.1% | ||
| Q2 25 | 0.8% | 11.7% | ||
| Q1 25 | 0.5% | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | 1.1% | 11.7% | ||
| Q2 24 | 0.8% | 7.4% |
现金转化率ADBENET
| Q1 26 | 1.57× | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 1.30× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.23× | — |
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
ADBE
| Subscription Revenue | $6.2B | 97% |
| Service Other | $110.0M | 2% |
| Products | $90.0M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
