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BRADY CORP（BRC）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BRADY CORP的1.5倍（$614.5M vs $405.3M），BRADY CORP净利率更高（13.3% vs -2.0%，领先15.3%），Cloudflare, Inc.同比增速更快（33.6% vs 7.5%），Cloudflare, Inc.自由现金流更多（$105.2M vs $22.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 12.1%）
布雷迪公司是美国特种产品、技术设备及标识解决方案供应商，1914年创立，总部位于威斯康星州密尔沃基，在美洲、欧洲、亚洲、澳洲拥有6600名员工，业务覆盖全球，为各行业客户提供工作场景所需的零部件标识相关产品与服务。
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。
BRC vs NET — 直观对比
营收规模更大
NET
是对方的1.5倍
$405.3M
营收增速更快
NET
高出26.1%
7.5%
净利率更高
BRC
高出15.3%
-2.0%
自由现金流更多
NET
多$82.8M
$22.4M
两年增速更快
NET
近两年复合增速
12.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $405.3M | $614.5M |
| 净利润 | $53.9M | $-12.1M |
| 毛利率 | 51.5% | 73.6% |
| 营业利润率 | 16.8% | -8.0% |
| 净利率 | 13.3% | -2.0% |
| 营收同比 | 7.5% | 33.6% |
| 净利润同比 | 15.3% | 6.0% |
| 每股收益（稀释后） | — | $-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BRCNET
| Q4 25 | $405.3M | $614.5M | ||
| Q3 25 | $397.3M | $562.0M | ||
| Q2 25 | $382.6M | $512.3M | ||
| Q1 25 | $356.7M | $479.1M | ||
| Q4 24 | $377.1M | $459.9M | ||
| Q3 24 | $343.4M | $430.1M | ||
| Q2 24 | $343.4M | $401.0M | ||
| Q1 24 | $322.6M | $378.6M |
净利润BRCNET
| Q4 25 | $53.9M | $-12.1M | ||
| Q3 25 | $49.9M | $-1.3M | ||
| Q2 25 | $52.3M | $-50.4M | ||
| Q1 25 | $40.3M | $-38.5M | ||
| Q4 24 | $46.8M | $-12.8M | ||
| Q3 24 | $55.5M | $-15.3M | ||
| Q2 24 | $50.9M | $-15.1M | ||
| Q1 24 | $43.6M | $-35.5M |
毛利率BRCNET
| Q4 25 | 51.5% | 73.6% | ||
| Q3 25 | 50.4% | 74.0% | ||
| Q2 25 | 51.0% | 74.9% | ||
| Q1 25 | 49.3% | 75.9% | ||
| Q4 24 | 50.3% | 76.4% | ||
| Q3 24 | 51.6% | 77.7% | ||
| Q2 24 | 51.6% | 77.8% | ||
| Q1 24 | 50.2% | 77.5% |
营业利润率BRCNET
| Q4 25 | 16.8% | -8.0% | ||
| Q3 25 | 14.9% | -6.7% | ||
| Q2 25 | 17.6% | -13.1% | ||
| Q1 25 | 14.4% | -11.1% | ||
| Q4 24 | 15.6% | -7.5% | ||
| Q3 24 | 19.3% | -7.2% | ||
| Q2 24 | 18.5% | -8.7% | ||
| Q1 24 | 16.7% | -14.4% |
净利率BRCNET
| Q4 25 | 13.3% | -2.0% | ||
| Q3 25 | 12.6% | -0.2% | ||
| Q2 25 | 13.7% | -9.8% | ||
| Q1 25 | 11.3% | -8.0% | ||
| Q4 24 | 12.4% | -2.8% | ||
| Q3 24 | 16.1% | -3.6% | ||
| Q2 24 | 14.8% | -3.8% | ||
| Q1 24 | 13.5% | -9.4% |
每股收益（稀释后）BRCNET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-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 | $182.7M | $943.5M |
| 总债务越低越好 | $115.9M | — |
| 股东权益账面价值 | $1.2B | $1.5B |
| 总资产 | $1.8B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.09× | — |
8季度趋势，按日历期对齐
现金及短期投资BRCNET
| Q4 25 | $182.7M | $943.5M | ||
| Q3 25 | $174.3M | $1.1B | ||
| Q2 25 | $152.2M | $1.5B | ||
| Q1 25 | $138.5M | $204.5M | ||
| Q4 24 | $145.7M | $147.7M | ||
| Q3 24 | $250.1M | $182.9M | ||
| Q2 24 | $160.5M | $157.0M | ||
| Q1 24 | $143.9M | $254.4M |
总债务BRCNET
| Q4 25 | $115.9M | — | ||
| Q3 25 | $99.8M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $90.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BRCNET
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.1B | $973.1M | ||
| Q2 24 | $1.0B | $881.5M | ||
| Q1 24 | $1.0B | $797.2M |
总资产BRCNET
| Q4 25 | $1.8B | $6.0B | ||
| Q3 25 | $1.7B | $5.8B | ||
| Q2 25 | $1.7B | $5.6B | ||
| Q1 25 | $1.6B | $3.7B | ||
| Q4 24 | $1.6B | $3.3B | ||
| Q3 24 | $1.5B | $3.1B | ||
| Q2 24 | $1.4B | $2.9B | ||
| Q1 24 | $1.4B | $2.8B |
负债/权益比BRCNET
| Q4 25 | 0.09× | — | ||
| Q3 25 | 0.08× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.09× | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $33.4M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $105.2M |
| 自由现金流率自由现金流/营收 | 5.5% | 17.1% |
| 资本支出强度资本支出/营收 | 2.7% | 13.9% |
| 现金转化率经营现金流/净利润 | 0.62× | — |
| 过去12个月自由现金流最近4个季度 | $159.9M | $287.5M |
8季度趋势，按日历期对齐
经营现金流BRCNET
| Q4 25 | $33.4M | $190.4M | ||
| Q3 25 | $58.3M | $167.1M | ||
| Q2 25 | $59.9M | $99.8M | ||
| Q1 25 | $39.6M | $145.8M | ||
| Q4 24 | $23.4M | $127.3M | ||
| Q3 24 | $84.0M | $104.7M | ||
| Q2 24 | $72.7M | $74.8M | ||
| Q1 24 | $36.1M | $73.6M |
自由现金流BRCNET
| Q4 25 | $22.4M | $105.2M | ||
| Q3 25 | $49.4M | $82.5M | ||
| Q2 25 | $55.6M | $39.9M | ||
| Q1 25 | $32.5M | $59.9M | ||
| Q4 24 | $16.1M | $54.2M | ||
| Q3 24 | $73.2M | $54.5M | ||
| Q2 24 | $64.4M | $45.2M | ||
| Q1 24 | $-13.5M | $41.5M |
自由现金流率BRCNET
| Q4 25 | 5.5% | 17.1% | ||
| Q3 25 | 12.4% | 14.7% | ||
| Q2 25 | 14.5% | 7.8% | ||
| Q1 25 | 9.1% | 12.5% | ||
| Q4 24 | 4.3% | 11.8% | ||
| Q3 24 | 21.3% | 12.7% | ||
| Q2 24 | 18.8% | 11.3% | ||
| Q1 24 | -4.2% | 11.0% |
资本支出强度BRCNET
| Q4 25 | 2.7% | 13.9% | ||
| Q3 25 | 2.2% | 15.1% | ||
| Q2 25 | 1.1% | 11.7% | ||
| Q1 25 | 2.0% | 17.9% | ||
| Q4 24 | 1.9% | 15.9% | ||
| Q3 24 | 3.1% | 11.7% | ||
| Q2 24 | 2.4% | 7.4% | ||
| Q1 24 | 15.4% | 8.5% |
现金转化率BRCNET
| Q4 25 | 0.62× | — | ||
| Q3 25 | 1.17× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 1.51× | — | ||
| Q2 24 | 1.43× | — | ||
| Q1 24 | 0.83× | — |
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
BRC
| Americas Asia | $215.1M | 53% |
| Europe Australia | $119.9M | 30% |
| Other | $70.2M | 17% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
