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爱齐科技（ALGN）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
爱齐科技的季度营收约是Cloudflare, Inc.的1.7倍（$1.0B vs $614.5M），爱齐科技净利率更高（10.8% vs -2.0%，领先12.8%），Cloudflare, Inc.同比增速更快（33.6% vs 6.2%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 0.6%）
爱齐科技是一家全球知名医疗设备企业，主营设计、生产及销售隐适美透明矫治器、iTero口内扫描仪及配套服务，客户覆盖正畸医师、全科牙医，面向修复、美容牙科领域，业务分为透明矫治器、扫描仪及服务两大板块，可满足青少年等不同群体的正畸需求
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。
ALGN vs NET — 直观对比
营收规模更大
ALGN
是对方的1.7倍
$614.5M
营收增速更快
NET
高出27.4%
6.2%
净利率更高
ALGN
高出12.8%
-2.0%
两年增速更快
NET
近两年复合增速
0.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $614.5M |
| 净利润 | $112.8M | $-12.1M |
| 毛利率 | 70.8% | 73.6% |
| 营业利润率 | 13.6% | -8.0% |
| 净利率 | 10.8% | -2.0% |
| 营收同比 | 6.2% | 33.6% |
| 净利润同比 | 21.0% | 6.0% |
| 每股收益（稀释后） | $1.57 | $-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ALGNNET
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $614.5M | ||
| Q3 25 | $995.7M | $562.0M | ||
| Q2 25 | $1.0B | $512.3M | ||
| Q1 25 | $979.3M | $479.1M | ||
| Q4 24 | $995.2M | $459.9M | ||
| Q3 24 | $977.9M | $430.1M | ||
| Q2 24 | $1.0B | $401.0M |
净利润ALGNNET
| Q1 26 | $112.8M | — | ||
| Q4 25 | $135.8M | $-12.1M | ||
| Q3 25 | $56.8M | $-1.3M | ||
| Q2 25 | $124.6M | $-50.4M | ||
| Q1 25 | $93.2M | $-38.5M | ||
| Q4 24 | $103.8M | $-12.8M | ||
| Q3 24 | $116.0M | $-15.3M | ||
| Q2 24 | $96.6M | $-15.1M |
毛利率ALGNNET
| Q1 26 | 70.8% | — | ||
| Q4 25 | 65.3% | 73.6% | ||
| Q3 25 | 64.2% | 74.0% | ||
| Q2 25 | 69.9% | 74.9% | ||
| Q1 25 | 69.5% | 75.9% | ||
| Q4 24 | 70.0% | 76.4% | ||
| Q3 24 | 69.7% | 77.7% | ||
| Q2 24 | 70.3% | 77.8% |
营业利润率ALGNNET
| Q1 26 | 13.6% | — | ||
| Q4 25 | 14.8% | -8.0% | ||
| Q3 25 | 9.7% | -6.7% | ||
| Q2 25 | 16.1% | -13.1% | ||
| Q1 25 | 13.4% | -11.1% | ||
| Q4 24 | 14.5% | -7.5% | ||
| Q3 24 | 16.6% | -7.2% | ||
| Q2 24 | 14.3% | -8.7% |
净利率ALGNNET
| Q1 26 | 10.8% | — | ||
| Q4 25 | 13.0% | -2.0% | ||
| Q3 25 | 5.7% | -0.2% | ||
| Q2 25 | 12.3% | -9.8% | ||
| Q1 25 | 9.5% | -8.0% | ||
| Q4 24 | 10.4% | -2.8% | ||
| Q3 24 | 11.9% | -3.6% | ||
| Q2 24 | 9.4% | -3.8% |
每股收益（稀释后）ALGNNET
| Q1 26 | $1.57 | — | ||
| Q4 25 | $1.88 | $-0.03 | ||
| Q3 25 | $0.78 | $0.00 | ||
| Q2 25 | $1.72 | $-0.15 | ||
| Q1 25 | $1.27 | $-0.11 | ||
| Q4 24 | $1.40 | $-0.05 | ||
| Q3 24 | $1.55 | $-0.04 | ||
| Q2 24 | $1.28 | $-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 | $1.1B | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.1B | $1.5B |
| 总资产 | $6.3B | $6.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ALGNNET
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $943.5M | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $901.2M | $1.5B | ||
| Q1 25 | $873.0M | $204.5M | ||
| Q4 24 | $1.0B | $147.7M | ||
| Q3 24 | $1.0B | $182.9M | ||
| Q2 24 | $761.4M | $157.0M |
股东权益ALGNNET
| Q1 26 | $4.1B | — | ||
| Q4 25 | $4.0B | $1.5B | ||
| Q3 25 | $4.0B | $1.3B | ||
| Q2 25 | $3.9B | $1.2B | ||
| Q1 25 | $3.8B | $1.4B | ||
| Q4 24 | $3.9B | $1.0B | ||
| Q3 24 | $3.9B | $973.1M | ||
| Q2 24 | $3.8B | $881.5M |
总资产ALGNNET
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.2B | $6.0B | ||
| Q3 25 | $6.2B | $5.8B | ||
| Q2 25 | $6.2B | $5.6B | ||
| Q1 25 | $6.1B | $3.7B | ||
| Q4 24 | $6.2B | $3.3B | ||
| Q3 24 | $6.4B | $3.1B | ||
| Q2 24 | $6.2B | $2.9B |
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 | $151.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | — | $105.2M |
| 自由现金流率自由现金流/营收 | — | 17.1% |
| 资本支出强度资本支出/营收 | — | 13.9% |
| 现金转化率经营现金流/净利润 | 1.34× | — |
| 过去12个月自由现金流最近4个季度 | — | $287.5M |
8季度趋势，按日历期对齐
经营现金流ALGNNET
| Q1 26 | $151.0M | — | ||
| Q4 25 | $223.2M | $190.4M | ||
| Q3 25 | $188.7M | $167.1M | ||
| Q2 25 | $128.7M | $99.8M | ||
| Q1 25 | $52.7M | $145.8M | ||
| Q4 24 | $286.1M | $127.3M | ||
| Q3 24 | $263.7M | $104.7M | ||
| Q2 24 | $159.8M | $74.8M |
自由现金流ALGNNET
| Q1 26 | — | — | ||
| Q4 25 | $187.3M | $105.2M | ||
| Q3 25 | $169.0M | $82.5M | ||
| Q2 25 | $107.2M | $39.9M | ||
| Q1 25 | $27.4M | $59.9M | ||
| Q4 24 | $263.1M | $54.2M | ||
| Q3 24 | $233.9M | $54.5M | ||
| Q2 24 | $106.4M | $45.2M |
自由现金流率ALGNNET
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 17.1% | ||
| Q3 25 | 17.0% | 14.7% | ||
| Q2 25 | 10.6% | 7.8% | ||
| Q1 25 | 2.8% | 12.5% | ||
| Q4 24 | 26.4% | 11.8% | ||
| Q3 24 | 23.9% | 12.7% | ||
| Q2 24 | 10.3% | 11.3% |
资本支出强度ALGNNET
| Q1 26 | — | — | ||
| Q4 25 | 3.4% | 13.9% | ||
| Q3 25 | 2.0% | 15.1% | ||
| Q2 25 | 2.1% | 11.7% | ||
| Q1 25 | 2.6% | 17.9% | ||
| Q4 24 | 2.3% | 15.9% | ||
| Q3 24 | 3.0% | 11.7% | ||
| Q2 24 | 5.2% | 7.4% |
现金转化率ALGNNET
| Q1 26 | 1.34× | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | 3.33× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | 2.76× | — | ||
| Q3 24 | 2.27× | — | ||
| Q2 24 | 1.66× | — |
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
ALGN
| Clear Aligner | $856.0M | 82% |
| CAM Services | $184.1M | 18% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
