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CREDIT ACCEPTANCE CORP（CACC）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CREDIT ACCEPTANCE CORP的1.1倍（$614.5M vs $579.9M），CREDIT ACCEPTANCE CORP净利率更高（21.0% vs -2.0%，领先23.0%），Cloudflare, Inc.同比增速更快（33.6% vs 2.5%），CREDIT ACCEPTANCE CORP自由现金流更多（$268.9M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.8%）
Credit Acceptance是一家汽车金融服务提供商，主要提供汽车贷款及相关金融产品。公司通过覆盖全国的合作汽车经销商网络开展业务，设有“投资组合计划”和“采购计划”两大业务项目，可向汽车经销商提供资金，以此换取对应消费者贷款的后续服务权利。
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。
CACC vs NET — 直观对比
营收规模更大
NET
是对方的1.1倍
$579.9M
营收增速更快
NET
高出31.1%
2.5%
净利率更高
CACC
高出23.0%
-2.0%
自由现金流更多
CACC
多$163.7M
$105.2M
两年增速更快
NET
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $579.9M | $614.5M |
| 净利润 | $122.0M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 27.1% | -8.0% |
| 净利率 | 21.0% | -2.0% |
| 营收同比 | 2.5% | 33.6% |
| 净利润同比 | -19.7% | 6.0% |
| 每股收益（稀释后） | $10.87 | $-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CACCNET
| Q4 25 | $579.9M | $614.5M | ||
| Q3 25 | $582.4M | $562.0M | ||
| Q2 25 | $583.8M | $512.3M | ||
| Q1 25 | $571.1M | $479.1M | ||
| Q4 24 | $565.9M | $459.9M | ||
| Q3 24 | $550.3M | $430.1M | ||
| Q2 24 | $538.2M | $401.0M | ||
| Q1 24 | $508.0M | $378.6M |
净利润CACCNET
| Q4 25 | $122.0M | $-12.1M | ||
| Q3 25 | $108.2M | $-1.3M | ||
| Q2 25 | $87.4M | $-50.4M | ||
| Q1 25 | $106.3M | $-38.5M | ||
| Q4 24 | $151.9M | $-12.8M | ||
| Q3 24 | $78.8M | $-15.3M | ||
| Q2 24 | $-47.1M | $-15.1M | ||
| Q1 24 | $64.3M | $-35.5M |
毛利率CACCNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.5% |
营业利润率CACCNET
| Q4 25 | 27.1% | -8.0% | ||
| Q3 25 | 25.6% | -6.7% | ||
| Q2 25 | 20.2% | -13.1% | ||
| Q1 25 | 24.8% | -11.1% | ||
| Q4 24 | 33.9% | -7.5% | ||
| Q3 24 | 19.4% | -7.2% | ||
| Q2 24 | -10.3% | -8.7% | ||
| Q1 24 | 17.0% | -14.4% |
净利率CACCNET
| Q4 25 | 21.0% | -2.0% | ||
| Q3 25 | 18.6% | -0.2% | ||
| Q2 25 | 15.0% | -9.8% | ||
| Q1 25 | 18.6% | -8.0% | ||
| Q4 24 | 26.8% | -2.8% | ||
| Q3 24 | 14.3% | -3.6% | ||
| Q2 24 | -8.8% | -3.8% | ||
| Q1 24 | 12.7% | -9.4% |
每股收益（稀释后）CACCNET
| Q4 25 | $10.87 | $-0.03 | ||
| Q3 25 | $9.43 | $0.00 | ||
| Q2 25 | $7.42 | $-0.15 | ||
| Q1 25 | $8.66 | $-0.11 | ||
| Q4 24 | $12.28 | $-0.05 | ||
| Q3 24 | $6.35 | $-0.04 | ||
| Q2 24 | $-3.83 | $-0.04 | ||
| Q1 24 | $5.08 | $-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 | $22.8M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.5B |
| 总资产 | $8.6B | $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CACCNET
| Q4 25 | $22.8M | $943.5M | ||
| Q3 25 | $15.9M | $1.1B | ||
| Q2 25 | $70.0M | $1.5B | ||
| Q1 25 | $528.8M | $204.5M | ||
| Q4 24 | $343.7M | $147.7M | ||
| Q3 24 | $159.7M | $182.9M | ||
| Q2 24 | $8.3M | $157.0M | ||
| Q1 24 | $8.4M | $254.4M |
股东权益CACCNET
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.7B | $1.0B | ||
| Q3 24 | $1.6B | $973.1M | ||
| Q2 24 | $1.6B | $881.5M | ||
| Q1 24 | $1.7B | $797.2M |
总资产CACCNET
| Q4 25 | $8.6B | $6.0B | ||
| Q3 25 | $8.6B | $5.8B | ||
| Q2 25 | $8.7B | $5.6B | ||
| Q1 25 | $9.3B | $3.7B | ||
| Q4 24 | $8.9B | $3.3B | ||
| Q3 24 | $8.7B | $3.1B | ||
| Q2 24 | $8.3B | $2.9B | ||
| Q1 24 | $8.1B | $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 | $269.3M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $268.9M | $105.2M |
| 自由现金流率自由现金流/营收 | 46.4% | 17.1% |
| 资本支出强度资本支出/营收 | 0.1% | 13.9% |
| 现金转化率经营现金流/净利润 | 2.21× | — |
| 过去12个月自由现金流最近4个季度 | $1.1B | $287.5M |
8季度趋势，按日历期对齐
经营现金流CACCNET
| Q4 25 | $269.3M | $190.4M | ||
| Q3 25 | $299.4M | $167.1M | ||
| Q2 25 | $139.7M | $99.8M | ||
| Q1 25 | $346.2M | $145.8M | ||
| Q4 24 | $306.2M | $127.3M | ||
| Q3 24 | $317.7M | $104.7M | ||
| Q2 24 | $204.0M | $74.8M | ||
| Q1 24 | $310.0M | $73.6M |
自由现金流CACCNET
| Q4 25 | $268.9M | $105.2M | ||
| Q3 25 | $298.8M | $82.5M | ||
| Q2 25 | $139.4M | $39.9M | ||
| Q1 25 | $345.9M | $59.9M | ||
| Q4 24 | $305.5M | $54.2M | ||
| Q3 24 | $317.3M | $54.5M | ||
| Q2 24 | $203.6M | $45.2M | ||
| Q1 24 | $309.7M | $41.5M |
自由现金流率CACCNET
| Q4 25 | 46.4% | 17.1% | ||
| Q3 25 | 51.3% | 14.7% | ||
| Q2 25 | 23.9% | 7.8% | ||
| Q1 25 | 60.6% | 12.5% | ||
| Q4 24 | 54.0% | 11.8% | ||
| Q3 24 | 57.7% | 12.7% | ||
| Q2 24 | 37.8% | 11.3% | ||
| Q1 24 | 61.0% | 11.0% |
资本支出强度CACCNET
| Q4 25 | 0.1% | 13.9% | ||
| Q3 25 | 0.1% | 15.1% | ||
| Q2 25 | 0.1% | 11.7% | ||
| Q1 25 | 0.1% | 17.9% | ||
| Q4 24 | 0.1% | 15.9% | ||
| Q3 24 | 0.1% | 11.7% | ||
| Q2 24 | 0.1% | 7.4% | ||
| Q1 24 | 0.1% | 8.5% |
现金转化率CACCNET
| Q4 25 | 2.21× | — | ||
| Q3 25 | 2.77× | — | ||
| Q2 25 | 1.60× | — | ||
| Q1 25 | 3.26× | — | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 4.03× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.82× | — |
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
CACC
| Loans Receivable | $553.0M | 95% |
| Other | $26.9M | 5% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
