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ATI INC（ATI）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
ATI INC的季度营收约是Cloudflare, Inc.的1.9倍（$1.2B vs $614.5M），ATI INC净利率更高（10.3% vs -2.0%，领先12.2%），Cloudflare, Inc.同比增速更快（33.6% vs 0.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $74.6M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 2.5%）
ATI是加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器（GPU）及芯片组研发。公司成立于1985年，1993年公开上市，2006年被AMD收购。作为无晶圆厂半导体巨头，ATI坚持自主研发，生产组装环节外包，2000年竞争对手3dfx破产后，成为全球图形芯片领域的核心厂商之一。
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。
ATI vs NET — 直观对比
营收规模更大
ATI
是对方的1.9倍
$614.5M
营收增速更快
NET
高出33.0%
0.6%
净利率更高
ATI
高出12.2%
-2.0%
自由现金流更多
NET
多$30.6M
$74.6M
两年增速更快
NET
近两年复合增速
2.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.5M |
| 净利润 | $118.2M | $-12.1M |
| 毛利率 | 22.8% | 73.6% |
| 营业利润率 | 14.2% | -8.0% |
| 净利率 | 10.3% | -2.0% |
| 营收同比 | 0.6% | 33.6% |
| 净利润同比 | 21.9% | 6.0% |
| 每股收益（稀释后） | $0.85 | $-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ATINET
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $614.5M | ||
| Q3 25 | $1.1B | $562.0M | ||
| Q2 25 | $1.1B | $512.3M | ||
| Q1 25 | $1.1B | $479.1M | ||
| Q4 24 | $1.2B | $459.9M | ||
| Q3 24 | $1.1B | $430.1M | ||
| Q2 24 | $1.1B | $401.0M |
净利润ATINET
| Q1 26 | $118.2M | — | ||
| Q4 25 | $96.6M | $-12.1M | ||
| Q3 25 | $110.0M | $-1.3M | ||
| Q2 25 | $100.7M | $-50.4M | ||
| Q1 25 | $97.0M | $-38.5M | ||
| Q4 24 | $137.1M | $-12.8M | ||
| Q3 24 | $82.7M | $-15.3M | ||
| Q2 24 | $81.9M | $-15.1M |
毛利率ATINET
| Q1 26 | 22.8% | — | ||
| Q4 25 | 23.2% | 73.6% | ||
| Q3 25 | 22.7% | 74.0% | ||
| Q2 25 | 21.3% | 74.9% | ||
| Q1 25 | 20.6% | 75.9% | ||
| Q4 24 | 21.2% | 76.4% | ||
| Q3 24 | 21.4% | 77.7% | ||
| Q2 24 | 20.8% | 77.8% |
营业利润率ATINET
| Q1 26 | 14.2% | — | ||
| Q4 25 | 14.5% | -8.0% | ||
| Q3 25 | 14.4% | -6.7% | ||
| Q2 25 | 14.1% | -13.1% | ||
| Q1 25 | 12.8% | -11.1% | ||
| Q4 24 | 17.8% | -7.5% | ||
| Q3 24 | 13.5% | -7.2% | ||
| Q2 24 | 13.0% | -8.7% |
净利率ATINET
| Q1 26 | 10.3% | — | ||
| Q4 25 | 8.2% | -2.0% | ||
| Q3 25 | 9.8% | -0.2% | ||
| Q2 25 | 8.8% | -9.8% | ||
| Q1 25 | 8.5% | -8.0% | ||
| Q4 24 | 11.7% | -2.8% | ||
| Q3 24 | 7.9% | -3.6% | ||
| Q2 24 | 7.5% | -3.8% |
每股收益（稀释后）ATINET
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.70 | $-0.03 | ||
| Q3 25 | $0.78 | $0.00 | ||
| Q2 25 | $0.70 | $-0.15 | ||
| Q1 25 | $0.67 | $-0.11 | ||
| Q4 24 | $0.94 | $-0.05 | ||
| Q3 24 | $0.57 | $-0.04 | ||
| Q2 24 | $0.58 | $-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 | $401.7M | $943.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $1.9B | $1.5B |
| 总资产 | $5.2B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.95× | — |
8季度趋势，按日历期对齐
现金及短期投资ATINET
| Q1 26 | $401.7M | — | ||
| Q4 25 | $416.7M | $943.5M | ||
| Q3 25 | $372.2M | $1.1B | ||
| Q2 25 | $319.6M | $1.5B | ||
| Q1 25 | $475.8M | $204.5M | ||
| Q4 24 | $721.2M | $147.7M | ||
| Q3 24 | $406.6M | $182.9M | ||
| Q2 24 | $425.6M | $157.0M |
总债务ATINET
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — |
股东权益ATINET
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.9B | $1.0B | ||
| Q3 24 | $1.8B | $973.1M | ||
| Q2 24 | $1.4B | $881.5M |
总资产ATINET
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.1B | $6.0B | ||
| Q3 25 | $5.0B | $5.8B | ||
| Q2 25 | $5.0B | $5.6B | ||
| Q1 25 | $5.2B | $3.7B | ||
| Q4 24 | $5.2B | $3.3B | ||
| Q3 24 | $5.1B | $3.1B | ||
| Q2 24 | $4.9B | $2.9B |
负债/权益比ATINET
| Q1 26 | 0.95× | — | ||
| Q4 25 | 0.95× | — | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 1.04× | — | ||
| Q2 24 | 1.37× | — |
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 | $74.6M | $105.2M |
| 自由现金流率自由现金流/营收 | 6.5% | 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 | $554.1M | $287.5M |
8季度趋势，按日历期对齐
经营现金流ATINET
| Q1 26 | — | — | ||
| Q4 25 | $315.8M | $190.4M | ||
| Q3 25 | $229.5M | $167.1M | ||
| Q2 25 | $161.5M | $99.8M | ||
| Q1 25 | $-92.5M | $145.8M | ||
| Q4 24 | $380.9M | $127.3M | ||
| Q3 24 | $24.0M | $104.7M | ||
| Q2 24 | $101.1M | $74.8M |
自由现金流ATINET
| Q1 26 | $74.6M | — | ||
| Q4 25 | $223.1M | $105.2M | ||
| Q3 25 | $167.0M | $82.5M | ||
| Q2 25 | $89.4M | $39.9M | ||
| Q1 25 | $-145.8M | $59.9M | ||
| Q4 24 | $333.6M | $54.2M | ||
| Q3 24 | $-41.8M | $54.5M | ||
| Q2 24 | $40.9M | $45.2M |
自由现金流率ATINET
| Q1 26 | 6.5% | — | ||
| Q4 25 | 19.0% | 17.1% | ||
| Q3 25 | 14.8% | 14.7% | ||
| Q2 25 | 7.8% | 7.8% | ||
| Q1 25 | -12.7% | 12.5% | ||
| Q4 24 | 28.4% | 11.8% | ||
| Q3 24 | -4.0% | 12.7% | ||
| Q2 24 | 3.7% | 11.3% |
资本支出强度ATINET
| Q1 26 | — | — | ||
| Q4 25 | 7.9% | 13.9% | ||
| Q3 25 | 5.6% | 15.1% | ||
| Q2 25 | 6.3% | 11.7% | ||
| Q1 25 | 4.7% | 17.9% | ||
| Q4 24 | 4.0% | 15.9% | ||
| Q3 24 | 6.3% | 11.7% | ||
| Q2 24 | 5.5% | 7.4% |
现金转化率ATINET
| Q1 26 | — | — | ||
| Q4 25 | 3.27× | — | ||
| Q3 25 | 2.09× | — | ||
| Q2 25 | 1.60× | — | ||
| Q1 25 | -0.95× | — | ||
| Q4 24 | 2.78× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 1.23× | — |
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
ATI
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
