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百通（BDC）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
百通的季度营收约是Cloudflare, Inc.的1.1倍（$696.4M vs $614.5M），百通净利率更高（7.3% vs -2.0%，领先9.3%），Cloudflare, Inc.同比增速更快（33.6% vs 11.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-63.1M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 7.3%）
百通公司是美国上市跨国企业，专注于端到端网络、安全及连接产品的设计、生产与销售，业务覆盖工业自动化解决方案、智能建筑、宽带及5G三大核心领域，为各行业客户提供可靠的通信连接相关产品与服务。
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。
BDC vs NET — 直观对比
营收规模更大
BDC
是对方的1.1倍
$614.5M
营收增速更快
NET
高出22.2%
11.4%
净利率更高
BDC
高出9.3%
-2.0%
自由现金流更多
NET
多$168.3M
$-63.1M
两年增速更快
NET
近两年复合增速
7.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $696.4M | $614.5M |
| 净利润 | $51.0M | $-12.1M |
| 毛利率 | 37.1% | 73.6% |
| 营业利润率 | 11.2% | -8.0% |
| 净利率 | 7.3% | -2.0% |
| 营收同比 | 11.4% | 33.6% |
| 净利润同比 | -1.8% | 6.0% |
| 每股收益（稀释后） | $1.30 | $-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BDCNET
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $614.5M | ||
| Q3 25 | $698.2M | $562.0M | ||
| Q2 25 | $672.0M | $512.3M | ||
| Q1 25 | $624.9M | $479.1M | ||
| Q4 24 | $666.0M | $459.9M | ||
| Q3 24 | $654.9M | $430.1M | ||
| Q2 24 | $604.3M | $401.0M |
净利润BDCNET
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $-12.1M | ||
| Q3 25 | $56.7M | $-1.3M | ||
| Q2 25 | $61.0M | $-50.4M | ||
| Q1 25 | $51.9M | $-38.5M | ||
| Q4 24 | $58.4M | $-12.8M | ||
| Q3 24 | $53.7M | $-15.3M | ||
| Q2 24 | $49.0M | $-15.1M |
毛利率BDCNET
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 73.6% | ||
| Q3 25 | 37.7% | 74.0% | ||
| Q2 25 | 38.5% | 74.9% | ||
| Q1 25 | 39.3% | 75.9% | ||
| Q4 24 | 37.5% | 76.4% | ||
| Q3 24 | 37.3% | 77.7% | ||
| Q2 24 | 37.5% | 77.8% |
营业利润率BDCNET
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | -8.0% | ||
| Q3 25 | 10.9% | -6.7% | ||
| Q2 25 | 11.8% | -13.1% | ||
| Q1 25 | 11.6% | -11.1% | ||
| Q4 24 | 10.4% | -7.5% | ||
| Q3 24 | 11.5% | -7.2% | ||
| Q2 24 | 11.4% | -8.7% |
净利率BDCNET
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | -2.0% | ||
| Q3 25 | 8.1% | -0.2% | ||
| Q2 25 | 9.1% | -9.8% | ||
| Q1 25 | 8.3% | -8.0% | ||
| Q4 24 | 8.8% | -2.8% | ||
| Q3 24 | 8.2% | -3.6% | ||
| Q2 24 | 8.1% | -3.8% |
每股收益（稀释后）BDCNET
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $-0.03 | ||
| Q3 25 | $1.41 | $0.00 | ||
| Q2 25 | $1.53 | $-0.15 | ||
| Q1 25 | $1.27 | $-0.11 | ||
| Q4 24 | $1.41 | $-0.05 | ||
| Q3 24 | $1.30 | $-0.04 | ||
| Q2 24 | $1.19 | $-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 | $272.2M | $943.5M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $1.3B | $1.5B |
| 总资产 | — | $6.0B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资BDCNET
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $943.5M | ||
| Q3 25 | $314.3M | $1.1B | ||
| Q2 25 | $301.5M | $1.5B | ||
| Q1 25 | $259.0M | $204.5M | ||
| Q4 24 | $370.3M | $147.7M | ||
| Q3 24 | $323.0M | $182.9M | ||
| Q2 24 | $564.8M | $157.0M |
总债务BDCNET
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益BDCNET
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.3B | $1.0B | ||
| Q3 24 | $1.2B | $973.1M | ||
| Q2 24 | $1.2B | $881.5M |
总资产BDCNET
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $6.0B | ||
| Q3 25 | $3.4B | $5.8B | ||
| Q2 25 | $3.4B | $5.6B | ||
| Q1 25 | $3.3B | $3.7B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.5B | $2.9B |
负债/权益比BDCNET
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-63.1M | $105.2M |
| 自由现金流率自由现金流/营收 | -9.1% | 17.1% |
| 资本支出强度资本支出/营收 | 6.4% | 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 | $180.4M | $287.5M |
8季度趋势，按日历期对齐
经营现金流BDCNET
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $190.4M | ||
| Q3 25 | $105.0M | $167.1M | ||
| Q2 25 | $82.0M | $99.8M | ||
| Q1 25 | $7.4M | $145.8M | ||
| Q4 24 | $174.7M | $127.3M | ||
| Q3 24 | $91.7M | $104.7M | ||
| Q2 24 | $83.0M | $74.8M |
自由现金流BDCNET
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $105.2M | ||
| Q3 25 | $65.3M | $82.5M | ||
| Q2 25 | $56.9M | $39.9M | ||
| Q1 25 | $-24.8M | $59.9M | ||
| Q4 24 | $116.4M | $54.2M | ||
| Q3 24 | $67.2M | $54.5M | ||
| Q2 24 | $61.0M | $45.2M |
自由现金流率BDCNET
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 17.1% | ||
| Q3 25 | 9.4% | 14.7% | ||
| Q2 25 | 8.5% | 7.8% | ||
| Q1 25 | -4.0% | 12.5% | ||
| Q4 24 | 17.5% | 11.8% | ||
| Q3 24 | 10.3% | 12.7% | ||
| Q2 24 | 10.1% | 11.3% |
资本支出强度BDCNET
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 13.9% | ||
| Q3 25 | 5.7% | 15.1% | ||
| Q2 25 | 3.7% | 11.7% | ||
| Q1 25 | 5.2% | 17.9% | ||
| Q4 24 | 8.8% | 15.9% | ||
| Q3 24 | 3.7% | 11.7% | ||
| Q2 24 | 3.6% | 7.4% |
现金转化率BDCNET
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | — |
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
BDC
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
