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CHECK POINT SOFTWARE TECHNOLOGIES LTD（CHKP）与派拓网络（PANW）财务数据对比。点击上方公司名可切换其他公司
派拓网络的季度营收约是CHECK POINT SOFTWARE TECHNOLOGIES LTD的1.3倍（$2.6B vs $2.0B），CHECK POINT SOFTWARE TECHNOLOGIES LTD净利率更高（38.0% vs 16.7%，领先21.3%），CHECK POINT SOFTWARE TECHNOLOGIES LTD自由现金流更多（$895.5M vs $384.0M）
Check Point软件技术有限公司是以色列知名网络安全企业，业务覆盖全球60余个国家，总部位于以色列特拉维夫，在美国加利福尼亚州红木城设有重要运营据点。公司为全球超过10万家机构提供安全防护，旗下拥有专业安全研究团队，同时是世界经济论坛的合作伙伴。
派拓网络（Palo Alto Networks）是总部位于美国加利福尼亚州圣克拉拉的跨国网络安全企业，核心产品包括高级防火墙及拓展其防护能力的云原生安全服务，为全球150多个国家的超7万家机构、含85家财富100强企业提供服务，旗下拥有知名威胁研究团队Unit 42，还举办Ignite网络安全行业峰会。
CHKP vs PANW — 直观对比
营收规模更大
PANW
是对方的1.3倍
$2.0B
净利率更高
CHKP
高出21.3%
16.7%
自由现金流更多
CHKP
多$511.5M
$384.0M
损益表 — Q3 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $2.6B |
| 净利润 | $752.4M | $432.0M |
| 毛利率 | 86.7% | 73.6% |
| 营业利润率 | 30.2% | 15.3% |
| 净利率 | 38.0% | 16.7% |
| 营收同比 | — | 14.9% |
| 净利润同比 | — | 61.6% |
| 每股收益（稀释后） | $6.81 | $0.61 |
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CHKPPANW
| Q1 26 | — | $2.6B | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | $2.0B | $2.5B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.0B |
净利润CHKPPANW
| Q1 26 | — | $432.0M | ||
| Q4 25 | — | $334.0M | ||
| Q3 25 | $752.4M | $253.8M | ||
| Q2 25 | — | $262.1M | ||
| Q1 25 | — | $267.3M | ||
| Q4 24 | — | $350.7M | ||
| Q3 24 | — | $357.7M | ||
| Q2 24 | — | $278.8M |
毛利率CHKPPANW
| Q1 26 | — | 73.6% | ||
| Q4 25 | — | 74.2% | ||
| Q3 25 | 86.7% | 73.2% | ||
| Q2 25 | — | 72.9% | ||
| Q1 25 | — | 73.5% | ||
| Q4 24 | — | 74.1% | ||
| Q3 24 | — | 73.8% | ||
| Q2 24 | — | 74.1% |
营业利润率CHKPPANW
| Q1 26 | — | 15.3% | ||
| Q4 25 | — | 12.5% | ||
| Q3 25 | 30.2% | 19.6% | ||
| Q2 25 | — | 9.6% | ||
| Q1 25 | — | 10.6% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 8.9% |
净利率CHKPPANW
| Q1 26 | — | 16.7% | ||
| Q4 25 | — | 13.5% | ||
| Q3 25 | 38.0% | 10.0% | ||
| Q2 25 | — | 11.5% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | 16.3% | ||
| Q2 24 | — | 14.0% |
每股收益（稀释后）CHKPPANW
| Q1 26 | — | $0.61 | ||
| Q4 25 | — | $0.47 | ||
| Q3 25 | $6.81 | $-0.14 | ||
| Q2 25 | — | $0.37 | ||
| Q1 25 | — | $0.38 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | — | $1.04 | ||
| Q2 24 | — | $0.79 |
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 | $619.9M | $4.5B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.1B | $9.4B |
| 总资产 | $5.7B | $25.0B |
| 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CHKPPANW
| Q1 26 | — | $4.5B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | $619.9M | $2.9B | ||
| Q2 25 | — | $3.3B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.9B |
股东权益CHKPPANW
| Q1 26 | — | $9.4B | ||
| Q4 25 | — | $8.7B | ||
| Q3 25 | $3.1B | $7.8B | ||
| Q2 25 | — | $7.2B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $5.9B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $4.5B |
总资产CHKPPANW
| Q1 26 | — | $25.0B | ||
| Q4 25 | — | $23.5B | ||
| Q3 25 | $5.7B | $23.6B | ||
| Q2 25 | — | $22.0B | ||
| Q1 25 | — | $21.0B | ||
| Q4 24 | — | $20.4B | ||
| Q3 24 | — | $20.0B | ||
| Q2 24 | — | $17.9B |
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 | $914.9M | $554.0M |
| 自由现金流经营现金流 - 资本支出 | $895.5M | $384.0M |
| 自由现金流率自由现金流/营收 | 45.2% | 14.8% |
| 资本支出强度资本支出/营收 | 1.0% | 6.6% |
| 现金转化率经营现金流/净利润 | 1.22× | 1.28× |
| 过去12个月自由现金流最近4个季度 | — | $3.6B |
8季度趋势，按日历期对齐
经营现金流CHKPPANW
| Q1 26 | — | $554.0M | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $914.9M | $1.0B | ||
| Q2 25 | — | $628.7M | ||
| Q1 25 | — | $556.9M | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $512.7M | ||
| Q2 24 | — | $528.9M |
自由现金流CHKPPANW
| Q1 26 | — | $384.0M | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | $895.5M | $934.5M | ||
| Q2 25 | — | $560.4M | ||
| Q1 25 | — | $509.4M | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $465.3M | ||
| Q2 24 | — | $491.5M |
自由现金流率CHKPPANW
| Q1 26 | — | 14.8% | ||
| Q4 25 | — | 68.2% | ||
| Q3 25 | 45.2% | 36.8% | ||
| Q2 25 | — | 24.5% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 68.5% | ||
| Q3 24 | — | 21.3% | ||
| Q2 24 | — | 24.8% |
资本支出强度CHKPPANW
| Q1 26 | — | 6.6% | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | 1.0% | 3.4% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 1.9% |
现金转化率CHKPPANW
| Q1 26 | — | 1.28× | ||
| Q4 25 | — | 5.30× | ||
| Q3 25 | 1.22× | 4.02× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | — | 2.08× | ||
| Q4 24 | — | 4.30× | ||
| Q3 24 | — | 1.43× | ||
| Q2 24 | — | 1.90× |
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
CHKP
| Security subscriptions | $812.0M | 41% |
| Software updates and maintenance | $712.0M | 36% |
| Products and licenses | $337.3M | 17% |
| Other | $119.2M | 6% |
PANW
| Subscription | $1.4B | 54% |
| Support | $676.0M | 26% |
| Products | $514.0M | 20% |
