vs
百富门（BF.B）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
百富门的季度营收约是Cloudflare, Inc.的1.7倍（$1.0B vs $614.5M），百富门净利率更高（21.6% vs -2.0%，领先23.6%），Cloudflare, Inc.同比增速更快（33.6% vs -5.4%），百富门自由现金流更多（$107.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -1.6%）
百富门（Brown-Forman）是美国家族控股上市企业，属全球规模最大的葡萄酒及烈酒经营集团之一，总部位于肯塔基州路易斯维尔。旗下拥有杰克丹尼、伍德福德珍藏、格兰多纳等多个国际知名酒类品牌，曾持有的南方安逸等品牌已于2016年出售。
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。
BF.B vs NET — 直观对比
营收规模更大
BF.B
是对方的1.7倍
$614.5M
营收增速更快
NET
高出39.0%
-5.4%
净利率更高
BF.B
高出23.6%
-2.0%
自由现金流更多
BF.B
多$1.8M
$105.2M
两年增速更快
NET
近两年复合增速
-1.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $614.5M |
| 净利润 | $224.0M | $-12.1M |
| 毛利率 | 59.4% | 73.6% |
| 营业利润率 | 29.4% | -8.0% |
| 净利率 | 21.6% | -2.0% |
| 营收同比 | -5.4% | 33.6% |
| 净利润同比 | -13.2% | 6.0% |
| 每股收益（稀释后） | $0.47 | $-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BF.BNET
| Q4 25 | $1.0B | $614.5M | ||
| Q3 25 | $924.0M | $562.0M | ||
| Q2 25 | $894.0M | $512.3M | ||
| Q1 25 | $1.0B | $479.1M | ||
| Q4 24 | $1.1B | $459.9M | ||
| Q3 24 | $951.0M | $430.1M | ||
| Q2 24 | $964.0M | $401.0M | ||
| Q1 24 | $1.1B | $378.6M |
净利润BF.BNET
| Q4 25 | $224.0M | $-12.1M | ||
| Q3 25 | $170.0M | $-1.3M | ||
| Q2 25 | $146.0M | $-50.4M | ||
| Q1 25 | $270.0M | $-38.5M | ||
| Q4 24 | $258.0M | $-12.8M | ||
| Q3 24 | $195.0M | $-15.3M | ||
| Q2 24 | $266.0M | $-15.1M | ||
| Q1 24 | $285.0M | $-35.5M |
毛利率BF.BNET
| Q4 25 | 59.4% | 73.6% | ||
| Q3 25 | 59.7% | 74.0% | ||
| Q2 25 | 57.4% | 74.9% | ||
| Q1 25 | 59.8% | 75.9% | ||
| Q4 24 | 59.0% | 76.4% | ||
| Q3 24 | 59.4% | 77.7% | ||
| Q2 24 | 59.0% | 77.8% | ||
| Q1 24 | 59.4% | 77.5% |
营业利润率BF.BNET
| Q4 25 | 29.4% | -8.0% | ||
| Q3 25 | 28.1% | -6.7% | ||
| Q2 25 | 22.9% | -13.1% | ||
| Q1 25 | 27.1% | -11.1% | ||
| Q4 24 | 31.1% | -7.5% | ||
| Q3 24 | 29.5% | -7.2% | ||
| Q2 24 | 38.9% | -8.7% | ||
| Q1 24 | 34.9% | -14.4% |
净利率BF.BNET
| Q4 25 | 21.6% | -2.0% | ||
| Q3 25 | 18.4% | -0.2% | ||
| Q2 25 | 16.3% | -9.8% | ||
| Q1 25 | 26.1% | -8.0% | ||
| Q4 24 | 23.6% | -2.8% | ||
| Q3 24 | 20.5% | -3.6% | ||
| Q2 24 | 27.6% | -3.8% | ||
| Q1 24 | 26.7% | -9.4% |
每股收益（稀释后）BF.BNET
| Q4 25 | $0.47 | $-0.03 | ||
| Q3 25 | $0.36 | $0.00 | ||
| Q2 25 | $0.31 | $-0.15 | ||
| Q1 25 | $0.57 | $-0.11 | ||
| Q4 24 | $0.55 | $-0.05 | ||
| Q3 24 | $0.41 | $-0.04 | ||
| Q2 24 | $0.56 | $-0.04 | ||
| Q1 24 | $0.60 | $-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 | $319.0M | $943.5M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $4.1B | $1.5B |
| 总资产 | $8.2B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.59× | — |
8季度趋势，按日历期对齐
现金及短期投资BF.BNET
| Q4 25 | $319.0M | $943.5M | ||
| Q3 25 | $471.0M | $1.1B | ||
| Q2 25 | $444.0M | $1.5B | ||
| Q1 25 | $599.0M | $204.5M | ||
| Q4 24 | $416.0M | $147.7M | ||
| Q3 24 | $416.0M | $182.9M | ||
| Q2 24 | $446.0M | $157.0M | ||
| Q1 24 | $589.0M | $254.4M |
总债务BF.BNET
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益BF.BNET
| Q4 25 | $4.1B | $1.5B | ||
| Q3 25 | $4.0B | $1.3B | ||
| Q2 25 | $4.0B | $1.2B | ||
| Q1 25 | $3.8B | $1.4B | ||
| Q4 24 | $3.7B | $1.0B | ||
| Q3 24 | $3.5B | $973.1M | ||
| Q2 24 | $3.5B | $881.5M | ||
| Q1 24 | $3.2B | $797.2M |
总资产BF.BNET
| Q4 25 | $8.2B | $6.0B | ||
| Q3 25 | $8.2B | $5.8B | ||
| Q2 25 | $8.1B | $5.6B | ||
| Q1 25 | $8.1B | $3.7B | ||
| Q4 24 | $8.3B | $3.3B | ||
| Q3 24 | $8.2B | $3.1B | ||
| Q2 24 | $8.2B | $2.9B | ||
| Q1 24 | $8.2B | $2.8B |
负债/权益比BF.BNET
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.77× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.83× | — |
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 | $132.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 10.3% | 17.1% |
| 资本支出强度资本支出/营收 | 2.4% | 13.9% |
| 现金转化率经营现金流/净利润 | 0.59× | — |
| 过去12个月自由现金流最近4个季度 | $610.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流BF.BNET
| Q4 25 | $132.0M | $190.4M | ||
| Q3 25 | $160.0M | $167.1M | ||
| Q2 25 | $152.0M | $99.8M | ||
| Q1 25 | $317.0M | $145.8M | ||
| Q4 24 | $112.0M | $127.3M | ||
| Q3 24 | $17.0M | $104.7M | ||
| Q2 24 | $285.0M | $74.8M | ||
| Q1 24 | $265.0M | $73.6M |
自由现金流BF.BNET
| Q4 25 | $107.0M | $105.2M | ||
| Q3 25 | $129.0M | $82.5M | ||
| Q2 25 | $102.0M | $39.9M | ||
| Q1 25 | $272.0M | $59.9M | ||
| Q4 24 | $81.0M | $54.2M | ||
| Q3 24 | $-24.0M | $54.5M | ||
| Q2 24 | $205.0M | $45.2M | ||
| Q1 24 | $196.0M | $41.5M |
自由现金流率BF.BNET
| Q4 25 | 10.3% | 17.1% | ||
| Q3 25 | 14.0% | 14.7% | ||
| Q2 25 | 11.4% | 7.8% | ||
| Q1 25 | 26.3% | 12.5% | ||
| Q4 24 | 7.4% | 11.8% | ||
| Q3 24 | -2.5% | 12.7% | ||
| Q2 24 | 21.3% | 11.3% | ||
| Q1 24 | 18.3% | 11.0% |
资本支出强度BF.BNET
| Q4 25 | 2.4% | 13.9% | ||
| Q3 25 | 3.4% | 15.1% | ||
| Q2 25 | 5.6% | 11.7% | ||
| Q1 25 | 4.3% | 17.9% | ||
| Q4 24 | 2.8% | 15.9% | ||
| Q3 24 | 4.3% | 11.7% | ||
| Q2 24 | 8.3% | 7.4% | ||
| Q1 24 | 6.5% | 8.5% |
现金转化率BF.BNET
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.94× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 0.09× | — | ||
| Q2 24 | 1.07× | — | ||
| Q1 24 | 0.93× | — |
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
BF.B
| Whiskey | $771.0M | 74% |
| Ready To Drink | $138.0M | 13% |
| Tequila | $67.0M | 6% |
| Restofportfolio | $52.0M | 5% |
| Nonbrandedandbulk | $8.0M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
