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ASSOCIATED BANC-CORP（ASB）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ASSOCIATED BANC-CORP的1.6倍（$614.5M vs $383.0M），ASSOCIATED BANC-CORP净利率更高（31.2% vs -2.0%，领先33.2%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 9.1%）
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
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。
ASB vs NET — 直观对比
营收规模更大
NET
是对方的1.6倍
$383.0M
净利率更高
ASB
高出33.2%
-2.0%
两年增速更快
NET
近两年复合增速
9.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $383.0M | $614.5M |
| 净利润 | $119.6M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | — | -8.0% |
| 净利率 | 31.2% | -2.0% |
| 营收同比 | — | 33.6% |
| 净利润同比 | 566.6% | 6.0% |
| 每股收益（稀释后） | $0.70 | $-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ASBNET
| Q1 26 | $383.0M | — | ||
| Q4 25 | $310.0M | $614.5M | ||
| Q3 25 | $305.2M | $562.0M | ||
| Q2 25 | $300.0M | $512.3M | ||
| Q1 25 | $285.9M | $479.1M | ||
| Q4 24 | $270.3M | $459.9M | ||
| Q3 24 | $329.7M | $430.1M | ||
| Q2 24 | $321.8M | $401.0M |
净利润ASBNET
| Q1 26 | $119.6M | — | ||
| Q4 25 | $137.1M | $-12.1M | ||
| Q3 25 | $124.7M | $-1.3M | ||
| Q2 25 | $111.2M | $-50.4M | ||
| Q1 25 | $101.7M | $-38.5M | ||
| Q4 24 | $-161.6M | $-12.8M | ||
| Q3 24 | $88.0M | $-15.3M | ||
| Q2 24 | $115.6M | $-15.1M |
毛利率ASBNET
| Q1 26 | — | — | ||
| 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% |
营业利润率ASBNET
| Q1 26 | — | — | ||
| Q4 25 | 52.6% | -8.0% | ||
| Q3 25 | 50.5% | -6.7% | ||
| Q2 25 | 46.5% | -13.1% | ||
| Q1 25 | 42.3% | -11.1% | ||
| Q4 24 | -65.8% | -7.5% | ||
| Q3 24 | 32.8% | -7.2% | ||
| Q2 24 | 32.0% | -8.7% |
净利率ASBNET
| Q1 26 | 31.2% | — | ||
| Q4 25 | 44.2% | -2.0% | ||
| Q3 25 | 40.9% | -0.2% | ||
| Q2 25 | 37.1% | -9.8% | ||
| Q1 25 | 35.6% | -8.0% | ||
| Q4 24 | -59.8% | -2.8% | ||
| Q3 24 | 26.7% | -3.6% | ||
| Q2 24 | 35.9% | -3.8% |
每股收益（稀释后）ASBNET
| Q1 26 | $0.70 | — | ||
| Q4 25 | $0.80 | $-0.03 | ||
| Q3 25 | $0.73 | $0.00 | ||
| Q2 25 | $0.65 | $-0.15 | ||
| Q1 25 | $0.59 | $-0.11 | ||
| Q4 24 | $-1.10 | $-0.05 | ||
| Q3 24 | $0.56 | $-0.04 | ||
| Q2 24 | $0.74 | $-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 | — | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.0B | $1.5B |
| 总资产 | $45.6B | $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ASBNET
| Q1 26 | — | — | ||
| 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 |
总债务ASBNET
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $594.1M | — | ||
| Q2 25 | $593.5M | — | ||
| Q1 25 | $591.4M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $844.3M | — | ||
| Q2 24 | $536.1M | — |
股东权益ASBNET
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $1.5B | ||
| Q3 25 | $4.9B | $1.3B | ||
| Q2 25 | $4.8B | $1.2B | ||
| Q1 25 | $4.7B | $1.4B | ||
| Q4 24 | $4.6B | $1.0B | ||
| Q3 24 | $4.4B | $973.1M | ||
| Q2 24 | $4.2B | $881.5M |
总资产ASBNET
| Q1 26 | $45.6B | — | ||
| Q4 25 | $45.2B | $6.0B | ||
| Q3 25 | $44.5B | $5.8B | ||
| Q2 25 | $44.0B | $5.6B | ||
| Q1 25 | $43.3B | $3.7B | ||
| Q4 24 | $43.0B | $3.3B | ||
| Q3 24 | $42.2B | $3.1B | ||
| Q2 24 | $41.6B | $2.9B |
负债/权益比ASBNET
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.13× | — |
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 | — | $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 | — | — |
| 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ASBNET
| Q1 26 | — | — | ||
| Q4 25 | $218.1M | $190.4M | ||
| Q3 25 | $158.0M | $167.1M | ||
| Q2 25 | $141.5M | $99.8M | ||
| Q1 25 | $98.2M | $145.8M | ||
| Q4 24 | $207.1M | $127.3M | ||
| Q3 24 | $105.1M | $104.7M | ||
| Q2 24 | $113.5M | $74.8M |
自由现金流ASBNET
| Q1 26 | — | — | ||
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M |
自由现金流率ASBNET
| Q1 26 | — | — | ||
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% |
资本支出强度ASBNET
| Q1 26 | — | — | ||
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% |
现金转化率ASBNET
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.27× | — | ||
| Q2 25 | 1.27× | — | ||
| Q1 25 | 0.97× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 0.98× | — |
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
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
