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Artisan Partners Asset Management Inc.（APAM）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Artisan Partners Asset Management Inc.的1.8倍（$614.5M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -2.0%，领先37.2%），Cloudflare, Inc.同比增速更快（33.6% vs 12.9%），Artisan Partners Asset Management Inc.自由现金流更多（$171.6M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
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。
APAM vs NET — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $614.5M |
| 净利润 | $118.1M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 39.2% | -8.0% |
| 净利率 | 35.2% | -2.0% |
| 营收同比 | 12.9% | 33.6% |
| 净利润同比 | 34.9% | 6.0% |
| 每股收益（稀释后） | $1.36 | $-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
| Q4 25 | $335.5M | $614.5M | ||
| Q3 25 | $301.3M | $562.0M | ||
| Q2 25 | $282.7M | $512.3M | ||
| Q1 25 | $277.1M | $479.1M | ||
| Q4 24 | $297.1M | $459.9M | ||
| Q3 24 | $279.6M | $430.1M | ||
| Q2 24 | $270.8M | $401.0M | ||
| Q1 24 | $264.4M | $378.6M |
| Q4 25 | $118.1M | $-12.1M | ||
| Q3 25 | $66.8M | $-1.3M | ||
| Q2 25 | $67.6M | $-50.4M | ||
| Q1 25 | $61.1M | $-38.5M | ||
| Q4 24 | $87.5M | $-12.8M | ||
| Q3 24 | $73.0M | $-15.3M | ||
| Q2 24 | $57.6M | $-15.1M | ||
| Q1 24 | $59.5M | $-35.5M |
| 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% |
| Q4 25 | 39.2% | -8.0% | ||
| Q3 25 | 33.8% | -6.7% | ||
| Q2 25 | 28.2% | -13.1% | ||
| Q1 25 | 31.2% | -11.1% | ||
| Q4 24 | 36.7% | -7.5% | ||
| Q3 24 | 33.3% | -7.2% | ||
| Q2 24 | 32.0% | -8.7% | ||
| Q1 24 | 29.4% | -14.4% |
| Q4 25 | 35.2% | -2.0% | ||
| Q3 25 | 22.2% | -0.2% | ||
| Q2 25 | 23.9% | -9.8% | ||
| Q1 25 | 22.1% | -8.0% | ||
| Q4 24 | 29.5% | -2.8% | ||
| Q3 24 | 26.1% | -3.6% | ||
| Q2 24 | 21.3% | -3.8% | ||
| Q1 24 | 22.5% | -9.4% |
| Q4 25 | $1.36 | $-0.03 | ||
| Q3 25 | $0.93 | $0.00 | ||
| Q2 25 | $0.94 | $-0.15 | ||
| Q1 25 | $0.82 | $-0.11 | ||
| Q4 24 | $0.99 | $-0.05 | ||
| Q3 24 | $1.03 | $-0.04 | ||
| Q2 24 | $0.80 | $-0.04 | ||
| Q1 24 | $0.84 | $-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 | — | $943.5M |
| 总债务越低越好 | $190.0M | — |
| 股东权益账面价值 | $438.8M | $1.5B |
| 总资产 | $1.6B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M | ||
| Q1 24 | — | $254.4M |
| Q4 25 | $190.0M | — | ||
| Q3 25 | $190.0M | — | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | — |
| Q4 25 | $438.8M | $1.5B | ||
| Q3 25 | $402.1M | $1.3B | ||
| Q2 25 | $381.8M | $1.2B | ||
| Q1 25 | $356.5M | $1.4B | ||
| Q4 24 | $388.9M | $1.0B | ||
| Q3 24 | $372.1M | $973.1M | ||
| Q2 24 | $341.2M | $881.5M | ||
| Q1 24 | $320.3M | $797.2M |
| Q4 25 | $1.6B | $6.0B | ||
| Q3 25 | $1.6B | $5.8B | ||
| Q2 25 | $1.4B | $5.6B | ||
| Q1 25 | $1.4B | $3.7B | ||
| Q4 24 | $1.6B | $3.3B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.5B | $2.9B | ||
| Q1 24 | $1.5B | $2.8B |
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | $105.2M |
| 自由现金流率自由现金流/营收 | 51.2% | 17.1% |
| 资本支出强度资本支出/营收 | 0.1% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | $287.5M |
8季度趋势，按日历期对齐
| Q4 25 | $172.0M | $190.4M | ||
| Q3 25 | $40.4M | $167.1M | ||
| Q2 25 | $50.9M | $99.8M | ||
| Q1 25 | $157.9M | $145.8M | ||
| Q4 24 | $372.8M | $127.3M | ||
| Q3 24 | $112.8M | $104.7M | ||
| Q2 24 | $75.9M | $74.8M | ||
| Q1 24 | $147.0M | $73.6M |
| Q4 25 | $171.6M | $105.2M | ||
| Q3 25 | $40.4M | $82.5M | ||
| Q2 25 | $50.9M | $39.9M | ||
| Q1 25 | $157.7M | $59.9M | ||
| Q4 24 | $371.3M | $54.2M | ||
| Q3 24 | $112.4M | $54.5M | ||
| Q2 24 | $75.2M | $45.2M | ||
| Q1 24 | $146.9M | $41.5M |
| Q4 25 | 51.2% | 17.1% | ||
| Q3 25 | 13.4% | 14.7% | ||
| Q2 25 | 18.0% | 7.8% | ||
| Q1 25 | 56.9% | 12.5% | ||
| Q4 24 | 125.0% | 11.8% | ||
| Q3 24 | 40.2% | 12.7% | ||
| Q2 24 | 27.8% | 11.3% | ||
| Q1 24 | 55.6% | 11.0% |
| Q4 25 | 0.1% | 13.9% | ||
| Q3 25 | 0.0% | 15.1% | ||
| Q2 25 | 0.0% | 11.7% | ||
| Q1 25 | 0.1% | 17.9% | ||
| Q4 24 | 0.5% | 15.9% | ||
| Q3 24 | 0.1% | 11.7% | ||
| Q2 24 | 0.2% | 7.4% | ||
| Q1 24 | 0.0% | 8.5% |
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 2.58× | — | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | — |
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
APAM
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
