vs
CULLEN/FROST BANKERS, INC.（CFR）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CULLEN/FROST BANKERS, INC.的1.1倍（$614.5M vs $580.9M），CULLEN/FROST BANKERS, INC.净利率更高（28.6% vs -2.0%，领先30.6%），Cloudflare, Inc.同比增速更快（33.6% vs 8.3%），CULLEN/FROST BANKERS, INC.自由现金流更多（$127.3M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 7.6%）
Frost Bank是总部位于美国圣安东尼奥的德克萨斯州特许银行，为银行控股公司卡伦/弗罗斯特银行家集团的核心子公司。其在得克萨斯州共设有200家营业网点、1750台自动柜员机，按总资产规模统计位列全美前60大银行之列。
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。
CFR vs NET — 直观对比
营收规模更大
NET
是对方的1.1倍
$580.9M
营收增速更快
NET
高出25.3%
8.3%
净利率更高
CFR
高出30.6%
-2.0%
自由现金流更多
CFR
多$22.1M
$105.2M
两年增速更快
NET
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $580.9M | $614.5M |
| 净利润 | $166.3M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 34.1% | -8.0% |
| 净利率 | 28.6% | -2.0% |
| 营收同比 | 8.3% | 33.6% |
| 净利润同比 | 7.4% | 6.0% |
| 每股收益（稀释后） | $2.56 | $-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CFRNET
| Q4 25 | $580.9M | $614.5M | ||
| Q3 25 | $567.3M | $562.0M | ||
| Q2 25 | $546.9M | $512.3M | ||
| Q1 25 | $540.2M | $479.1M | ||
| Q4 24 | $536.3M | $459.9M | ||
| Q3 24 | $518.0M | $430.1M | ||
| Q2 24 | $507.9M | $401.0M | ||
| Q1 24 | $501.4M | $378.6M |
净利润CFRNET
| Q4 25 | $166.3M | $-12.1M | ||
| Q3 25 | $174.4M | $-1.3M | ||
| Q2 25 | $157.0M | $-50.4M | ||
| Q1 25 | $150.9M | $-38.5M | ||
| Q4 24 | $154.9M | $-12.8M | ||
| Q3 24 | $146.5M | $-15.3M | ||
| Q2 24 | $145.5M | $-15.1M | ||
| Q1 24 | $135.7M | $-35.5M |
毛利率CFRNET
| 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CFRNET
| Q4 25 | 34.1% | -8.0% | ||
| Q3 25 | 36.7% | -6.7% | ||
| Q2 25 | 34.1% | -13.1% | ||
| Q1 25 | 33.2% | -11.1% | ||
| Q4 24 | 34.3% | -7.5% | ||
| Q3 24 | 33.8% | -7.2% | ||
| Q2 24 | 34.5% | -8.7% | ||
| Q1 24 | 32.2% | -14.4% |
净利率CFRNET
| Q4 25 | 28.6% | -2.0% | ||
| Q3 25 | 30.7% | -0.2% | ||
| Q2 25 | 28.7% | -9.8% | ||
| Q1 25 | 27.9% | -8.0% | ||
| Q4 24 | 28.9% | -2.8% | ||
| Q3 24 | 28.3% | -3.6% | ||
| Q2 24 | 28.6% | -3.8% | ||
| Q1 24 | 27.1% | -9.4% |
每股收益（稀释后）CFRNET
| Q4 25 | $2.56 | $-0.03 | ||
| Q3 25 | $2.67 | $0.00 | ||
| Q2 25 | $2.39 | $-0.15 | ||
| Q1 25 | $2.30 | $-0.11 | ||
| Q4 24 | $2.36 | $-0.05 | ||
| Q3 24 | $2.24 | $-0.04 | ||
| Q2 24 | $2.21 | $-0.04 | ||
| Q1 24 | $2.06 | $-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 | — | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.6B | $1.5B |
| 总资产 | $53.0B | $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CFRNET
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M | ||
| Q1 24 | — | $254.4M |
股东权益CFRNET
| Q4 25 | $4.6B | $1.5B | ||
| Q3 25 | $4.5B | $1.3B | ||
| Q2 25 | $4.2B | $1.2B | ||
| Q1 25 | $4.1B | $1.4B | ||
| Q4 24 | $3.9B | $1.0B | ||
| Q3 24 | $4.1B | $973.1M | ||
| Q2 24 | $3.7B | $881.5M | ||
| Q1 24 | $3.6B | $797.2M |
总资产CFRNET
| Q4 25 | $53.0B | $6.0B | ||
| Q3 25 | $52.5B | $5.8B | ||
| Q2 25 | $51.4B | $5.6B | ||
| Q1 25 | $52.0B | $3.7B | ||
| Q4 24 | $52.5B | $3.3B | ||
| Q3 24 | $51.0B | $3.1B | ||
| Q2 24 | $48.8B | $2.9B | ||
| Q1 24 | $49.5B | $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 | $274.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $127.3M | $105.2M |
| 自由现金流率自由现金流/营收 | 21.9% | 17.1% |
| 资本支出强度资本支出/营收 | 25.2% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | $116.4M | $287.5M |
8季度趋势，按日历期对齐
经营现金流CFRNET
| Q4 25 | $274.0M | $190.4M | ||
| Q3 25 | $248.6M | $167.1M | ||
| Q2 25 | $140.8M | $99.8M | ||
| Q1 25 | $-296.1M | $145.8M | ||
| Q4 24 | $989.5M | $127.3M | ||
| Q3 24 | $307.2M | $104.7M | ||
| Q2 24 | $129.6M | $74.8M | ||
| Q1 24 | $488.4M | $73.6M |
自由现金流CFRNET
| Q4 25 | $127.3M | $105.2M | ||
| Q3 25 | $211.7M | $82.5M | ||
| Q2 25 | $114.5M | $39.9M | ||
| Q1 25 | $-337.1M | $59.9M | ||
| Q4 24 | $861.8M | $54.2M | ||
| Q3 24 | $281.9M | $54.5M | ||
| Q2 24 | $103.0M | $45.2M | ||
| Q1 24 | $450.3M | $41.5M |
自由现金流率CFRNET
| Q4 25 | 21.9% | 17.1% | ||
| Q3 25 | 37.3% | 14.7% | ||
| Q2 25 | 20.9% | 7.8% | ||
| Q1 25 | -62.4% | 12.5% | ||
| Q4 24 | 160.7% | 11.8% | ||
| Q3 24 | 54.4% | 12.7% | ||
| Q2 24 | 20.3% | 11.3% | ||
| Q1 24 | 89.8% | 11.0% |
资本支出强度CFRNET
| Q4 25 | 25.2% | 13.9% | ||
| Q3 25 | 6.5% | 15.1% | ||
| Q2 25 | 4.8% | 11.7% | ||
| Q1 25 | 7.6% | 17.9% | ||
| Q4 24 | 23.8% | 15.9% | ||
| Q3 24 | 4.9% | 11.7% | ||
| Q2 24 | 5.2% | 7.4% | ||
| Q1 24 | 7.6% | 8.5% |
现金转化率CFRNET
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | -1.96× | — | ||
| Q4 24 | 6.39× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 0.89× | — | ||
| Q1 24 | 3.60× | — |
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
CFR
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
