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AZZ INC（AZZ）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AZZ INC的1.6倍（$614.5M vs $385.1M），AZZ INC净利率更高（4.1% vs -2.0%，领先6.1%），Cloudflare, Inc.同比增速更快（33.6% vs 9.4%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -3.5%）
AZZ公司是全球领先的金属防护解决方案供应商，主营热浸镀锌、表面涂层处理服务及特种电气、工业零部件，主要服务于北美及其他核心国际市场的建筑、能源、基建、制造等下游领域。
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。
AZZ vs NET — 直观对比
营收规模更大
NET
是对方的1.6倍
$385.1M
营收增速更快
NET
高出24.2%
9.4%
净利率更高
AZZ
高出6.1%
-2.0%
两年增速更快
NET
近两年复合增速
-3.5%
损益表 — Q4 FY2027 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $385.1M | $614.5M |
| 净利润 | $15.9M | $-12.1M |
| 毛利率 | 22.7% | 73.6% |
| 营业利润率 | 14.8% | -8.0% |
| 净利率 | 4.1% | -2.0% |
| 营收同比 | 9.4% | 33.6% |
| 净利润同比 | 146.3% | 6.0% |
| 每股收益（稀释后） | $0.53 | $-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AZZNET
| Q4 26 | $385.1M | — | ||
| Q4 25 | $425.7M | $614.5M | ||
| Q3 25 | $417.3M | $562.0M | ||
| Q2 25 | $422.0M | $512.3M | ||
| Q1 25 | $351.9M | $479.1M | ||
| Q4 24 | $403.7M | $459.9M | ||
| Q3 24 | $409.0M | $430.1M | ||
| Q2 24 | $413.2M | $401.0M |
净利润AZZNET
| Q4 26 | $15.9M | — | ||
| Q4 25 | $41.1M | $-12.1M | ||
| Q3 25 | $89.3M | $-1.3M | ||
| Q2 25 | $170.9M | $-50.4M | ||
| Q1 25 | $20.2M | $-38.5M | ||
| Q4 24 | $33.6M | $-12.8M | ||
| Q3 24 | $35.4M | $-15.3M | ||
| Q2 24 | $39.6M | $-15.1M |
毛利率AZZNET
| Q4 26 | 22.7% | — | ||
| Q4 25 | 23.9% | 73.6% | ||
| Q3 25 | 24.3% | 74.0% | ||
| Q2 25 | 24.7% | 74.9% | ||
| Q1 25 | 22.4% | 75.9% | ||
| Q4 24 | 24.2% | 76.4% | ||
| Q3 24 | 25.3% | 77.7% | ||
| Q2 24 | 24.8% | 77.8% |
营业利润率AZZNET
| Q4 26 | 14.8% | — | ||
| Q4 25 | 16.3% | -8.0% | ||
| Q3 25 | 16.4% | -6.7% | ||
| Q2 25 | 16.5% | -13.1% | ||
| Q1 25 | 11.5% | -11.1% | ||
| Q4 24 | 14.5% | -7.5% | ||
| Q3 24 | 16.5% | -7.2% | ||
| Q2 24 | 16.9% | -8.7% |
净利率AZZNET
| Q4 26 | 4.1% | — | ||
| Q4 25 | 9.6% | -2.0% | ||
| Q3 25 | 21.4% | -0.2% | ||
| Q2 25 | 40.5% | -9.8% | ||
| Q1 25 | 5.7% | -8.0% | ||
| Q4 24 | 8.3% | -2.8% | ||
| Q3 24 | 8.7% | -3.6% | ||
| Q2 24 | 9.6% | -3.8% |
每股收益（稀释后）AZZNET
| Q4 26 | $0.53 | — | ||
| Q4 25 | $1.36 | $-0.03 | ||
| Q3 25 | $2.95 | $0.00 | ||
| Q2 25 | $5.66 | $-0.15 | ||
| Q1 25 | $0.87 | $-0.11 | ||
| Q4 24 | $1.12 | $-0.05 | ||
| Q3 24 | $1.18 | $-0.04 | ||
| Q2 24 | $-1.38 | $-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 | $1.3B | $1.5B |
| 总资产 | $2.2B | $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AZZNET
| Q4 26 | — | — | ||
| Q4 25 | $623.0K | $943.5M | ||
| Q3 25 | $897.0K | $1.1B | ||
| Q2 25 | $3.0M | $1.5B | ||
| Q1 25 | $1.5M | $204.5M | ||
| Q4 24 | $1.5M | $147.7M | ||
| Q3 24 | $2.2M | $182.9M | ||
| Q2 24 | $10.5M | $157.0M |
股东权益AZZNET
| Q4 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $999.8M | $973.1M | ||
| Q2 24 | $967.2M | $881.5M |
总资产AZZNET
| Q4 26 | $2.2B | — | ||
| Q4 25 | $2.2B | $6.0B | ||
| Q3 25 | $2.2B | $5.8B | ||
| Q2 25 | $2.2B | $5.6B | ||
| Q1 25 | $2.2B | $3.7B | ||
| Q4 24 | $2.2B | $3.3B | ||
| Q3 24 | $2.2B | $3.1B | ||
| Q2 24 | $2.2B | $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 | $525.4M | $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 | 32.98× | — |
| 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AZZNET
| Q4 26 | $525.4M | — | ||
| Q4 25 | $79.7M | $190.4M | ||
| Q3 25 | $58.4M | $167.1M | ||
| Q2 25 | $314.8M | $99.8M | ||
| Q1 25 | — | $145.8M | ||
| Q4 24 | $66.2M | $127.3M | ||
| Q3 24 | $47.5M | $104.7M | ||
| Q2 24 | $71.9M | $74.8M |
自由现金流AZZNET
| Q4 26 | — | — | ||
| Q4 25 | $61.2M | $105.2M | ||
| Q3 25 | $39.1M | $82.5M | ||
| Q2 25 | $293.9M | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | $39.7M | $54.2M | ||
| Q3 24 | $15.4M | $54.5M | ||
| Q2 24 | $44.5M | $45.2M |
自由现金流率AZZNET
| Q4 26 | — | — | ||
| Q4 25 | 14.4% | 17.1% | ||
| Q3 25 | 9.4% | 14.7% | ||
| Q2 25 | 69.6% | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | 9.8% | 11.8% | ||
| Q3 24 | 3.8% | 12.7% | ||
| Q2 24 | 10.8% | 11.3% |
资本支出强度AZZNET
| Q4 26 | — | — | ||
| Q4 25 | 4.4% | 13.9% | ||
| Q3 25 | 4.6% | 15.1% | ||
| Q2 25 | 5.0% | 11.7% | ||
| Q1 25 | 8.5% | 17.9% | ||
| Q4 24 | 6.6% | 15.9% | ||
| Q3 24 | 7.8% | 11.7% | ||
| Q2 24 | 6.6% | 7.4% |
现金转化率AZZNET
| Q4 26 | 32.98× | — | ||
| Q4 25 | 1.94× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.97× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 1.82× | — |
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
AZZ
| Precoat Metals | $198.6M | 52% |
| Metal Coatings | $186.5M | 48% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
