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AMC Networks Inc.（AMCX）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AMC Networks Inc.的1.0倍（$614.5M vs $594.8M），Cloudflare, Inc.净利率更高（-2.0% vs -9.3%，领先7.4%），Cloudflare, Inc.同比增速更快（33.6% vs -0.8%），Cloudflare, Inc.自由现金流更多（$105.2M vs $40.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -0.1%）
AMC网络公司是总部位于纽约市的美国独立大众传媒娱乐集团，旗下拥有AMC、BBC美国台、IFC、圣丹斯电视、We TV等多个有线频道，还经营纽约IFC中心艺术影院、独立电影公司、动漫版权发行商，以及AMC+、Acorn TV等多个付费订阅流媒体服务。
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。
AMCX vs NET — 直观对比
营收规模更大
NET
是对方的1.0倍
$594.8M
营收增速更快
NET
高出34.4%
-0.8%
净利率更高
NET
高出7.4%
-9.3%
自由现金流更多
NET
多$64.8M
$40.4M
两年增速更快
NET
近两年复合增速
-0.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $594.8M | $614.5M |
| 净利润 | $-55.5M | $-12.1M |
| 毛利率 | 49.7% | 73.6% |
| 营业利润率 | -8.6% | -8.0% |
| 净利率 | -9.3% | -2.0% |
| 营收同比 | -0.8% | 33.6% |
| 净利润同比 | 80.5% | 6.0% |
| 每股收益（稀释后） | $-0.97 | $-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AMCXNET
| Q4 25 | $594.8M | $614.5M | ||
| Q3 25 | $561.7M | $562.0M | ||
| Q2 25 | $600.0M | $512.3M | ||
| Q1 25 | $555.2M | $479.1M | ||
| Q4 24 | $599.3M | $459.9M | ||
| Q3 24 | $599.6M | $430.1M | ||
| Q2 24 | $625.9M | $401.0M | ||
| Q1 24 | $596.5M | $378.6M |
净利润AMCXNET
| Q4 25 | $-55.5M | $-12.1M | ||
| Q3 25 | $76.5M | $-1.3M | ||
| Q2 25 | $50.3M | $-50.4M | ||
| Q1 25 | $18.0M | $-38.5M | ||
| Q4 24 | $-284.5M | $-12.8M | ||
| Q3 24 | $41.4M | $-15.3M | ||
| Q2 24 | $-29.2M | $-15.1M | ||
| Q1 24 | $45.8M | $-35.5M |
毛利率AMCXNET
| Q4 25 | 49.7% | 73.6% | ||
| Q3 25 | 48.2% | 74.0% | ||
| Q2 25 | 52.7% | 74.9% | ||
| Q1 25 | 51.8% | 75.9% | ||
| Q4 24 | 51.2% | 76.4% | ||
| Q3 24 | 52.0% | 77.7% | ||
| Q2 24 | 55.2% | 77.8% | ||
| Q1 24 | 54.5% | 77.5% |
营业利润率AMCXNET
| Q4 25 | -8.6% | -8.0% | ||
| Q3 25 | 9.9% | -6.7% | ||
| Q2 25 | 10.7% | -13.1% | ||
| Q1 25 | 11.6% | -11.1% | ||
| Q4 24 | -42.4% | -7.5% | ||
| Q3 24 | 15.6% | -7.2% | ||
| Q2 24 | 1.7% | -8.7% | ||
| Q1 24 | 18.5% | -14.4% |
净利率AMCXNET
| Q4 25 | -9.3% | -2.0% | ||
| Q3 25 | 13.6% | -0.2% | ||
| Q2 25 | 8.4% | -9.8% | ||
| Q1 25 | 3.3% | -8.0% | ||
| Q4 24 | -47.5% | -2.8% | ||
| Q3 24 | 6.9% | -3.6% | ||
| Q2 24 | -4.7% | -3.8% | ||
| Q1 24 | 7.7% | -9.4% |
每股收益（稀释后）AMCXNET
| Q4 25 | $-0.97 | $-0.03 | ||
| Q3 25 | $1.38 | $0.00 | ||
| Q2 25 | $0.91 | $-0.15 | ||
| Q1 25 | $0.34 | $-0.11 | ||
| Q4 24 | $-6.23 | $-0.05 | ||
| Q3 24 | $0.76 | $-0.04 | ||
| Q2 24 | $-0.66 | $-0.04 | ||
| Q1 24 | $1.03 | $-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 | $502.4M | $943.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $981.9M | $1.5B |
| 总资产 | $3.9B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.78× | — |
8季度趋势，按日历期对齐
现金及短期投资AMCXNET
| Q4 25 | $502.4M | $943.5M | ||
| Q3 25 | $716.8M | $1.1B | ||
| Q2 25 | $866.4M | $1.5B | ||
| Q1 25 | $870.2M | $204.5M | ||
| Q4 24 | $784.6M | $147.7M | ||
| Q3 24 | $816.4M | $182.9M | ||
| Q2 24 | $802.6M | $157.0M | ||
| Q1 24 | $690.5M | $254.4M |
总债务AMCXNET
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.3B | — |
股东权益AMCXNET
| Q4 25 | $981.9M | $1.5B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $971.7M | $1.2B | ||
| Q1 25 | $888.8M | $1.4B | ||
| Q4 24 | $855.6M | $1.0B | ||
| Q3 24 | $1.1B | $973.1M | ||
| Q2 24 | $1.1B | $881.5M | ||
| Q1 24 | $1.1B | $797.2M |
总资产AMCXNET
| Q4 25 | $3.9B | $6.0B | ||
| Q3 25 | $4.2B | $5.8B | ||
| Q2 25 | $4.4B | $5.6B | ||
| Q1 25 | $4.3B | $3.7B | ||
| Q4 24 | $4.4B | $3.3B | ||
| Q3 24 | $4.8B | $3.1B | ||
| Q2 24 | $4.9B | $2.9B | ||
| Q1 24 | $4.9B | $2.8B |
负债/权益比AMCXNET
| Q4 25 | 1.78× | — | ||
| Q3 25 | 1.82× | — | ||
| Q2 25 | 2.27× | — | ||
| Q1 25 | 2.62× | — | ||
| Q4 24 | 2.73× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 2.26× | — | ||
| Q1 24 | 2.17× | — |
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 | $49.2M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $40.4M | $105.2M |
| 自由现金流率自由现金流/营收 | 6.8% | 17.1% |
| 资本支出强度资本支出/营收 | 1.5% | 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 | $272.4M | $287.5M |
8季度趋势，按日历期对齐
经营现金流AMCXNET
| Q4 25 | $49.2M | $190.4M | ||
| Q3 25 | $44.8M | $167.1M | ||
| Q2 25 | $102.8M | $99.8M | ||
| Q1 25 | $108.8M | $145.8M | ||
| Q4 24 | $58.1M | $127.3M | ||
| Q3 24 | $62.2M | $104.7M | ||
| Q2 24 | $104.4M | $74.8M | ||
| Q1 24 | $150.9M | $73.6M |
自由现金流AMCXNET
| Q4 25 | $40.4M | $105.2M | ||
| Q3 25 | $42.0M | $82.5M | ||
| Q2 25 | $95.7M | $39.9M | ||
| Q1 25 | $94.2M | $59.9M | ||
| Q4 24 | $37.6M | $54.2M | ||
| Q3 24 | $53.9M | $54.5M | ||
| Q2 24 | $95.2M | $45.2M | ||
| Q1 24 | $144.1M | $41.5M |
自由现金流率AMCXNET
| Q4 25 | 6.8% | 17.1% | ||
| Q3 25 | 7.5% | 14.7% | ||
| Q2 25 | 16.0% | 7.8% | ||
| Q1 25 | 17.0% | 12.5% | ||
| Q4 24 | 6.3% | 11.8% | ||
| Q3 24 | 9.0% | 12.7% | ||
| Q2 24 | 15.2% | 11.3% | ||
| Q1 24 | 24.2% | 11.0% |
资本支出强度AMCXNET
| Q4 25 | 1.5% | 13.9% | ||
| Q3 25 | 0.5% | 15.1% | ||
| Q2 25 | 1.2% | 11.7% | ||
| Q1 25 | 2.6% | 17.9% | ||
| Q4 24 | 3.4% | 15.9% | ||
| Q3 24 | 1.4% | 11.7% | ||
| Q2 24 | 1.5% | 7.4% | ||
| Q1 24 | 1.1% | 8.5% |
现金转化率AMCXNET
| Q4 25 | — | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 2.04× | — | ||
| Q1 25 | 6.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.29× | — |
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
AMCX
| Subscription And Circulation | $314.8M | 53% |
| Advertising | $124.9M | 21% |
| Other | $79.1M | 13% |
| License | $74.8M | 13% |
| Related Party | $1.2M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
