vs
Cipher Mining Inc.（CIFR）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
Cipher Mining Inc.的季度营收约是TELOS CORP的1.3倍（$59.7M vs $46.8M），TELOS CORP净利率更高（-34.9% vs -1229.6%，领先1194.7%），TELOS CORP同比增速更快（77.4% vs 41.4%），TELOS CORP自由现金流更多（$8.0M vs $-695.9M），过去两年TELOS CORP的营收复合增速更高（25.7% vs 11.4%）
Cipher Mining Inc.是总部位于美国的比特币挖矿生态运营企业，当前正全力发展加密货币相关业务，深耕加密行业上游基础设施赛道，依托技术及合规优势构建稳定高效的挖矿服务体系。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
CIFR vs TLS — 直观对比
营收规模更大
CIFR
是对方的1.3倍
$46.8M
营收增速更快
TLS
高出36.0%
41.4%
净利率更高
TLS
高出1194.7%
-1229.6%
自由现金流更多
TLS
多$703.8M
$-695.9M
两年增速更快
TLS
近两年复合增速
11.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.7M | $46.8M |
| 净利润 | $-734.2M | $-16.3M |
| 毛利率 | 59.4% | 35.0% |
| 营业利润率 | -503.4% | -39.6% |
| 净利率 | -1229.6% | -34.9% |
| 营收同比 | 41.4% | 77.4% |
| 净利润同比 | -4293.1% | -74.8% |
| 每股收益（稀释后） | $-1.91 | $-0.22 |
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CIFRTLS
| Q4 25 | $59.7M | $46.8M | ||
| Q3 25 | $71.7M | $51.4M | ||
| Q2 25 | $43.6M | $36.0M | ||
| Q1 25 | $49.0M | $30.6M | ||
| Q4 24 | $42.2M | $26.4M | ||
| Q3 24 | $24.1M | $23.8M | ||
| Q2 24 | $36.8M | $28.5M | ||
| Q1 24 | $48.1M | $29.6M |
净利润CIFRTLS
| Q4 25 | $-734.2M | $-16.3M | ||
| Q3 25 | $-3.3M | $-2.1M | ||
| Q2 25 | $-45.8M | $-9.5M | ||
| Q1 25 | $-39.0M | $-8.6M | ||
| Q4 24 | $17.5M | $-9.3M | ||
| Q3 24 | $-86.8M | $-28.1M | ||
| Q2 24 | $-15.3M | $-7.8M | ||
| Q1 24 | $39.9M | $-7.4M |
毛利率CIFRTLS
| Q4 25 | 59.4% | 35.0% | ||
| Q3 25 | 62.7% | 39.9% | ||
| Q2 25 | 64.8% | 33.2% | ||
| Q1 25 | 69.6% | 39.8% | ||
| Q4 24 | 56.9% | 40.3% | ||
| Q3 24 | 37.5% | 13.2% | ||
| Q2 24 | 61.2% | 34.1% | ||
| Q1 24 | 69.2% | 37.0% |
营业利润率CIFRTLS
| Q4 25 | -503.4% | -39.6% | ||
| Q3 25 | -52.5% | -4.8% | ||
| Q2 25 | -103.9% | -27.5% | ||
| Q1 25 | -77.8% | -29.5% | ||
| Q4 24 | 40.5% | -37.6% | ||
| Q3 24 | -379.2% | -121.4% | ||
| Q2 24 | -43.9% | -30.3% | ||
| Q1 24 | 97.2% | -28.5% |
净利率CIFRTLS
| Q4 25 | -1229.6% | -34.9% | ||
| Q3 25 | -4.6% | -4.1% | ||
| Q2 25 | -105.1% | -26.5% | ||
| Q1 25 | -79.6% | -28.1% | ||
| Q4 24 | 41.5% | -35.4% | ||
| Q3 24 | -359.9% | -118.0% | ||
| Q2 24 | -41.5% | -27.2% | ||
| Q1 24 | 82.9% | -24.9% |
每股收益（稀释后）CIFRTLS
| Q4 25 | $-1.91 | $-0.22 | ||
| Q3 25 | $-0.01 | $-0.03 | ||
| Q2 25 | $-0.12 | $-0.13 | ||
| Q1 25 | $-0.11 | $-0.12 | ||
| Q4 24 | $0.04 | $-0.13 | ||
| Q3 24 | $-0.26 | $-0.39 | ||
| Q2 24 | $-0.05 | $-0.11 | ||
| Q1 24 | $0.13 | $-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 | $628.3M | $53.2M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $805.5M | $96.0M |
| 总资产 | $4.3B | $139.9M |
| 负债/权益比越低杠杆越低 | 3.37× | — |
8季度趋势，按日历期对齐
现金及短期投资CIFRTLS
| Q4 25 | $628.3M | $53.2M | ||
| Q3 25 | $1.2B | $59.0M | ||
| Q2 25 | $62.7M | $57.0M | ||
| Q1 25 | $23.2M | $57.8M | ||
| Q4 24 | $5.6M | $54.6M | ||
| Q3 24 | $25.3M | $69.8M | ||
| Q2 24 | $122.6M | $80.1M | ||
| Q1 24 | $88.7M | $93.9M |
总债务CIFRTLS
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CIFRTLS
| Q4 25 | $805.5M | $96.0M | ||
| Q3 25 | $783.2M | $119.7M | ||
| Q2 25 | $748.9M | $118.4M | ||
| Q1 25 | $734.8M | $126.1M | ||
| Q4 24 | $682.0M | $127.1M | ||
| Q3 24 | $672.0M | $129.5M | ||
| Q2 24 | $690.8M | $149.1M | ||
| Q1 24 | $600.9M | $154.4M |
总资产CIFRTLS
| Q4 25 | $4.3B | $139.9M | ||
| Q3 25 | $2.8B | $164.3M | ||
| Q2 25 | $1.0B | $165.0M | ||
| Q1 25 | $913.8M | $158.1M | ||
| Q4 24 | $855.4M | $158.2M | ||
| Q3 24 | $775.4M | $166.3M | ||
| Q2 24 | $775.6M | $182.4M | ||
| Q1 24 | $677.1M | $195.4M |
负债/权益比CIFRTLS
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| 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 | $-207.9M | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $-695.9M | $8.0M |
| 自由现金流率自由现金流/营收 | -1165.4% | 17.0% |
| 资本支出强度资本支出/营收 | 817.1% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $29.4M |
8季度趋势，按日历期对齐
经营现金流CIFRTLS
| Q4 25 | $-207.9M | $8.0M | ||
| Q3 25 | $-50.1M | $9.1M | ||
| Q2 25 | $-56.2M | $7.0M | ||
| Q1 25 | $-47.2M | $6.1M | ||
| Q4 24 | $-87.5M | $-10.5M | ||
| Q3 24 | $-6.5M | $-7.1M | ||
| Q2 24 | $-25.4M | $-8.0M | ||
| Q1 24 | $-26.6M | $-350.0K |
自由现金流CIFRTLS
| Q4 25 | $-695.9M | $8.0M | ||
| Q3 25 | $-256.2M | $8.7M | ||
| Q2 25 | $-87.5M | $6.8M | ||
| Q1 25 | $-71.8M | $6.0M | ||
| Q4 24 | $-227.0M | $-12.4M | ||
| Q3 24 | $-83.2M | $-7.1M | ||
| Q2 24 | $-33.2M | $-8.2M | ||
| Q1 24 | $-34.5M | $-447.0K |
自由现金流率CIFRTLS
| Q4 25 | -1165.4% | 17.0% | ||
| Q3 25 | -357.3% | 16.9% | ||
| Q2 25 | -200.9% | 19.0% | ||
| Q1 25 | -146.7% | 19.5% | ||
| Q4 24 | -537.6% | -47.0% | ||
| Q3 24 | -345.0% | -30.0% | ||
| Q2 24 | -90.2% | -28.9% | ||
| Q1 24 | -71.7% | -1.5% |
资本支出强度CIFRTLS
| Q4 25 | 817.1% | 0.1% | ||
| Q3 25 | 287.5% | 0.9% | ||
| Q2 25 | 71.8% | 0.4% | ||
| Q1 25 | 50.2% | 0.4% | ||
| Q4 24 | 330.4% | 7.1% | ||
| Q3 24 | 317.8% | 0.2% | ||
| Q2 24 | 21.4% | 0.8% | ||
| Q1 24 | 16.4% | 0.3% |
现金转化率CIFRTLS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | — |
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
CIFR
暂无分部数据
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
