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BWX Technologies, Inc.（BWXT）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
BWX Technologies, Inc.的季度营收约是Cloudflare, Inc.的1.4倍（$885.8M vs $614.5M），BWX Technologies, Inc.净利率更高（10.5% vs -2.0%，领先12.5%），Cloudflare, Inc.同比增速更快（33.6% vs 18.7%），Cloudflare, Inc.自由现金流更多（$105.2M vs $56.8M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 21.1%）
BWX Technologies Inc.（简称BWXT）总部位于美国弗吉尼亚州林奇堡，是一家面向全球供应核部件与核燃料的专业企业，产品广泛应用于核电及核工业相关领域，服务覆盖全球多个国家和地区的客户。
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。
BWXT vs NET — 直观对比
营收规模更大
BWXT
是对方的1.4倍
$614.5M
营收增速更快
NET
高出14.9%
18.7%
净利率更高
BWXT
高出12.5%
-2.0%
自由现金流更多
NET
多$48.4M
$56.8M
两年增速更快
NET
近两年复合增速
21.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $885.8M | $614.5M |
| 净利润 | $93.0M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 10.4% | -8.0% |
| 净利率 | 10.5% | -2.0% |
| 营收同比 | 18.7% | 33.6% |
| 净利润同比 | 30.9% | 6.0% |
| 每股收益（稀释后） | $1.02 | $-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BWXTNET
| Q4 25 | $885.8M | $614.5M | ||
| Q3 25 | $866.3M | $562.0M | ||
| Q2 25 | $764.0M | $512.3M | ||
| Q1 25 | $682.3M | $479.1M | ||
| Q4 24 | $746.3M | $459.9M | ||
| Q3 24 | $672.0M | $430.1M | ||
| Q2 24 | $681.5M | $401.0M | ||
| Q1 24 | $604.0M | $378.6M |
净利润BWXTNET
| Q4 25 | $93.0M | $-12.1M | ||
| Q3 25 | $82.1M | $-1.3M | ||
| Q2 25 | $78.4M | $-50.4M | ||
| Q1 25 | $75.5M | $-38.5M | ||
| Q4 24 | $71.0M | $-12.8M | ||
| Q3 24 | $69.5M | $-15.3M | ||
| Q2 24 | $73.0M | $-15.1M | ||
| Q1 24 | $68.5M | $-35.5M |
毛利率BWXTNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | 21.8% | 74.0% | ||
| Q2 25 | 25.1% | 74.9% | ||
| Q1 25 | 24.2% | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | 24.4% | 77.7% | ||
| Q2 24 | 24.7% | 77.8% | ||
| Q1 24 | 24.6% | 77.5% |
营业利润率BWXTNET
| Q4 25 | 10.4% | -8.0% | ||
| Q3 25 | 13.1% | -6.7% | ||
| Q2 25 | 13.4% | -13.1% | ||
| Q1 25 | 14.2% | -11.1% | ||
| Q4 24 | 12.4% | -7.5% | ||
| Q3 24 | 14.4% | -7.2% | ||
| Q2 24 | 14.5% | -8.7% | ||
| Q1 24 | 15.4% | -14.4% |
净利率BWXTNET
| Q4 25 | 10.5% | -2.0% | ||
| Q3 25 | 9.5% | -0.2% | ||
| Q2 25 | 10.3% | -9.8% | ||
| Q1 25 | 11.1% | -8.0% | ||
| Q4 24 | 9.5% | -2.8% | ||
| Q3 24 | 10.3% | -3.6% | ||
| Q2 24 | 10.7% | -3.8% | ||
| Q1 24 | 11.3% | -9.4% |
每股收益（稀释后）BWXTNET
| Q4 25 | $1.02 | $-0.03 | ||
| Q3 25 | $0.89 | $0.00 | ||
| Q2 25 | $0.85 | $-0.15 | ||
| Q1 25 | $0.82 | $-0.11 | ||
| Q4 24 | $0.77 | $-0.05 | ||
| Q3 24 | $0.76 | $-0.04 | ||
| Q2 24 | $0.79 | $-0.04 | ||
| Q1 24 | $0.75 | $-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 | $499.8M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.2B | $1.5B |
| 总资产 | $4.3B | $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BWXTNET
| Q4 25 | $499.8M | $943.5M | ||
| Q3 25 | $79.6M | $1.1B | ||
| Q2 25 | $37.0M | $1.5B | ||
| Q1 25 | $55.4M | $204.5M | ||
| Q4 24 | $74.1M | $147.7M | ||
| Q3 24 | $35.5M | $182.9M | ||
| Q2 24 | $48.3M | $157.0M | ||
| Q1 24 | $45.9M | $254.4M |
股东权益BWXTNET
| 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 | $998.5M | $881.5M | ||
| Q1 24 | $946.2M | $797.2M |
总资产BWXTNET
| Q4 25 | $4.3B | $6.0B | ||
| Q3 25 | $3.8B | $5.8B | ||
| Q2 25 | $3.7B | $5.6B | ||
| Q1 25 | $3.1B | $3.7B | ||
| Q4 24 | $2.9B | $3.3B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $2.8B | $2.9B | ||
| Q1 24 | $2.8B | $2.8B |
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 | $127.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $56.8M | $105.2M |
| 自由现金流率自由现金流/营收 | 6.4% | 17.1% |
| 资本支出强度资本支出/营收 | 7.9% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.37× | — |
| 过去12个月自由现金流最近4个季度 | $295.3M | $287.5M |
8季度趋势，按日历期对齐
经营现金流BWXTNET
| Q4 25 | $127.0M | $190.4M | ||
| Q3 25 | $143.2M | $167.1M | ||
| Q2 25 | $159.0M | $99.8M | ||
| Q1 25 | $50.6M | $145.8M | ||
| Q4 24 | $276.9M | $127.3M | ||
| Q3 24 | $32.6M | $104.7M | ||
| Q2 24 | $65.9M | $74.8M | ||
| Q1 24 | $33.0M | $73.6M |
自由现金流BWXTNET
| Q4 25 | $56.8M | $105.2M | ||
| Q3 25 | $94.9M | $82.5M | ||
| Q2 25 | $126.3M | $39.9M | ||
| Q1 25 | $17.3M | $59.9M | ||
| Q4 24 | $224.4M | $54.2M | ||
| Q3 24 | $-7.7M | $54.5M | ||
| Q2 24 | $35.5M | $45.2M | ||
| Q1 24 | $2.6M | $41.5M |
自由现金流率BWXTNET
| Q4 25 | 6.4% | 17.1% | ||
| Q3 25 | 11.0% | 14.7% | ||
| Q2 25 | 16.5% | 7.8% | ||
| Q1 25 | 2.5% | 12.5% | ||
| Q4 24 | 30.1% | 11.8% | ||
| Q3 24 | -1.1% | 12.7% | ||
| Q2 24 | 5.2% | 11.3% | ||
| Q1 24 | 0.4% | 11.0% |
资本支出强度BWXTNET
| Q4 25 | 7.9% | 13.9% | ||
| Q3 25 | 5.6% | 15.1% | ||
| Q2 25 | 4.3% | 11.7% | ||
| Q1 25 | 4.9% | 17.9% | ||
| Q4 24 | 7.0% | 15.9% | ||
| Q3 24 | 6.0% | 11.7% | ||
| Q2 24 | 4.5% | 7.4% | ||
| Q1 24 | 5.0% | 8.5% |
现金转化率BWXTNET
| Q4 25 | 1.37× | — | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 2.03× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 3.90× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.90× | — | ||
| Q1 24 | 0.48× | — |
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
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
