vs
Advantage Solutions Inc.（ADV）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Advantage Solutions Inc.的季度营收约是Cloudflare, Inc.的1.5倍（$932.1M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -17.4%，领先15.4%），Cloudflare, Inc.同比增速更快（33.6% vs 4.5%），Cloudflare, Inc.自由现金流更多（$105.2M vs $23.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 4.0%）
该公司是一家全球数据与分析企业，为众多行业提供数据技术服务、分析工具、预测洞察与欺诈防范方案，总部位于佐治亚州阿尔法利塔，在美国全境以及澳大利亚、巴西、中国、法国、中国香港、印度、爱尔兰、以色列、菲律宾、英国均设有办公地点。
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。
ADV vs NET — 直观对比
营收规模更大
ADV
是对方的1.5倍
$614.5M
营收增速更快
NET
高出29.1%
4.5%
净利率更高
NET
高出15.4%
-17.4%
自由现金流更多
NET
多$81.8M
$23.4M
两年增速更快
NET
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $932.1M | $614.5M |
| 净利润 | $-161.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | -17.4% | -8.0% |
| 净利率 | -17.4% | -2.0% |
| 营收同比 | 4.5% | 33.6% |
| 净利润同比 | 9.2% | 6.0% |
| 每股收益（稀释后） | — | $-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ADVNET
| Q4 25 | $932.1M | $614.5M | ||
| Q3 25 | $915.0M | $562.0M | ||
| Q2 25 | $873.7M | $512.3M | ||
| Q1 25 | $821.8M | $479.1M | ||
| Q4 24 | $892.3M | $459.9M | ||
| Q3 24 | $939.3M | $430.1M | ||
| Q2 24 | $873.4M | $401.0M | ||
| Q1 24 | $861.4M | $378.6M |
净利润ADVNET
| Q4 25 | $-161.7M | $-12.1M | ||
| Q3 25 | $20.6M | $-1.3M | ||
| Q2 25 | $-30.4M | $-50.4M | ||
| Q1 25 | $-56.1M | $-38.5M | ||
| Q4 24 | $-178.0M | $-12.8M | ||
| Q3 24 | $-42.8M | $-15.3M | ||
| Q2 24 | $-100.8M | $-15.1M | ||
| Q1 24 | $-5.3M | $-35.5M |
毛利率ADVNET
| 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ADVNET
| Q4 25 | -17.4% | -8.0% | ||
| Q3 25 | 4.4% | -6.7% | ||
| Q2 25 | 1.1% | -13.1% | ||
| Q1 25 | -1.8% | -11.1% | ||
| Q4 24 | -19.1% | -7.5% | ||
| Q3 24 | -0.3% | -7.2% | ||
| Q2 24 | -10.4% | -8.7% | ||
| Q1 24 | -3.5% | -14.4% |
净利率ADVNET
| Q4 25 | -17.4% | -2.0% | ||
| Q3 25 | 2.2% | -0.2% | ||
| Q2 25 | -3.5% | -9.8% | ||
| Q1 25 | -6.8% | -8.0% | ||
| Q4 24 | -20.0% | -2.8% | ||
| Q3 24 | -4.6% | -3.6% | ||
| Q2 24 | -11.5% | -3.8% | ||
| Q1 24 | -0.6% | -9.4% |
每股收益（稀释后）ADVNET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $-0.13 | $-0.04 | ||
| Q2 24 | $-0.31 | $-0.04 | ||
| Q1 24 | $-0.02 | $-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 | $240.8M | $943.5M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $554.0M | $1.5B |
| 总资产 | $2.8B | $6.0B |
| 负债/权益比越低杠杆越低 | 3.05× | — |
8季度趋势，按日历期对齐
现金及短期投资ADVNET
| Q4 25 | $240.8M | $943.5M | ||
| Q3 25 | $201.1M | $1.1B | ||
| Q2 25 | $102.9M | $1.5B | ||
| Q1 25 | $121.1M | $204.5M | ||
| Q4 24 | $205.2M | $147.7M | ||
| Q3 24 | $196.1M | $182.9M | ||
| Q2 24 | $154.0M | $157.0M | ||
| Q1 24 | $112.3M | $254.4M |
总债务ADVNET
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADVNET
| Q4 25 | $554.0M | $1.5B | ||
| Q3 25 | $708.5M | $1.3B | ||
| Q2 25 | $683.6M | $1.2B | ||
| Q1 25 | $695.6M | $1.4B | ||
| Q4 24 | $748.7M | $1.0B | ||
| Q3 24 | $932.5M | $973.1M | ||
| Q2 24 | $973.7M | $881.5M | ||
| Q1 24 | $1.1B | $797.2M |
总资产ADVNET
| Q4 25 | $2.8B | $6.0B | ||
| Q3 25 | $3.0B | $5.8B | ||
| Q2 25 | $3.0B | $5.6B | ||
| Q1 25 | $3.0B | $3.7B | ||
| Q4 24 | $3.1B | $3.3B | ||
| Q3 24 | $3.4B | $3.1B | ||
| Q2 24 | $3.5B | $2.9B | ||
| Q1 24 | $3.6B | $2.8B |
负债/权益比ADVNET
| Q4 25 | 3.05× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $45.6M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $23.4M | $105.2M |
| 自由现金流率自由现金流/营收 | 2.5% | 17.1% |
| 资本支出强度资本支出/营收 | 2.4% | 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 | $10.7M | $287.5M |
8季度趋势，按日历期对齐
经营现金流ADVNET
| Q4 25 | $45.6M | $190.4M | ||
| Q3 25 | $63.6M | $167.1M | ||
| Q2 25 | $-8.1M | $99.8M | ||
| Q1 25 | $-39.6M | $145.8M | ||
| Q4 24 | $15.1M | $127.3M | ||
| Q3 24 | $34.0M | $104.7M | ||
| Q2 24 | $53.4M | $74.8M | ||
| Q1 24 | $-9.4M | $73.6M |
自由现金流ADVNET
| Q4 25 | $23.4M | $105.2M | ||
| Q3 25 | $52.2M | $82.5M | ||
| Q2 25 | $-10.2M | $39.9M | ||
| Q1 25 | $-54.7M | $59.9M | ||
| Q4 24 | $-27.4M | $54.2M | ||
| Q3 24 | $8.6M | $54.5M | ||
| Q2 24 | $43.8M | $45.2M | ||
| Q1 24 | $-24.8M | $41.5M |
自由现金流率ADVNET
| Q4 25 | 2.5% | 17.1% | ||
| Q3 25 | 5.7% | 14.7% | ||
| Q2 25 | -1.2% | 7.8% | ||
| Q1 25 | -6.7% | 12.5% | ||
| Q4 24 | -3.1% | 11.8% | ||
| Q3 24 | 0.9% | 12.7% | ||
| Q2 24 | 5.0% | 11.3% | ||
| Q1 24 | -2.9% | 11.0% |
资本支出强度ADVNET
| Q4 25 | 2.4% | 13.9% | ||
| Q3 25 | 1.3% | 15.1% | ||
| Q2 25 | 0.2% | 11.7% | ||
| Q1 25 | 1.8% | 17.9% | ||
| Q4 24 | 4.8% | 15.9% | ||
| Q3 24 | 2.7% | 11.7% | ||
| Q2 24 | 1.1% | 7.4% | ||
| Q1 24 | 1.8% | 8.5% |
现金转化率ADVNET
| Q4 25 | — | — | ||
| Q3 25 | 3.09× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
ADV
| Experiential Services | $395.9M | 42% |
| Branded Services | $289.8M | 31% |
| Retailer Services | $246.5M | 26% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
