vs
CLOVER HEALTH INVESTMENTS, CORP.（CLOV）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CLOVER HEALTH INVESTMENTS, CORP.的1.3倍（$614.5M vs $487.7M），Cloudflare, Inc.净利率更高（-2.0% vs -10.1%，领先8.1%），CLOVER HEALTH INVESTMENTS, CORP.同比增速更快（44.7% vs 33.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-69.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 18.6%）
克利弗健康投资公司是2014年成立的美国医疗保健企业，主营联邦医疗保险优势计划保险产品，是与美国政府直接签约合作的机构。目前公司为美国11个州的联邦医疗保险参保人提供健康管理服务，并已于2021年1月8日公开上市。
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。
CLOV vs NET — 直观对比
营收规模更大
NET
是对方的1.3倍
$487.7M
营收增速更快
CLOV
高出11.1%
33.6%
净利率更高
NET
高出8.1%
-10.1%
自由现金流更多
NET
多$174.2M
$-69.0M
两年增速更快
NET
近两年复合增速
18.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $487.7M | $614.5M |
| 净利润 | $-49.3M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | -10.1% | -8.0% |
| 净利率 | -10.1% | -2.0% |
| 营收同比 | 44.7% | 33.6% |
| 净利润同比 | -123.2% | 6.0% |
| 每股收益（稀释后） | — | $-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CLOVNET
| Q4 25 | $487.7M | $614.5M | ||
| Q3 25 | $496.6M | $562.0M | ||
| Q2 25 | $477.6M | $512.3M | ||
| Q1 25 | $462.3M | $479.1M | ||
| Q4 24 | $337.0M | $459.9M | ||
| Q3 24 | $331.0M | $430.1M | ||
| Q2 24 | $356.3M | $401.0M | ||
| Q1 24 | $346.9M | $378.6M |
净利润CLOVNET
| Q4 25 | $-49.3M | $-12.1M | ||
| Q3 25 | $-24.4M | $-1.3M | ||
| Q2 25 | $-10.6M | $-50.4M | ||
| Q1 25 | $-1.3M | $-38.5M | ||
| Q4 24 | $-22.1M | $-12.8M | ||
| Q3 24 | $-9.2M | $-15.3M | ||
| Q2 24 | $7.4M | $-15.1M | ||
| Q1 24 | $-19.2M | $-35.5M |
毛利率CLOVNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | 24.5% | 77.7% | ||
| Q2 24 | 30.3% | 77.8% | ||
| Q1 24 | 23.6% | 77.5% |
营业利润率CLOVNET
| Q4 25 | -10.1% | -8.0% | ||
| Q3 25 | -4.9% | -6.7% | ||
| Q2 25 | -2.2% | -13.1% | ||
| Q1 25 | -0.3% | -11.1% | ||
| Q4 24 | -6.4% | -7.5% | ||
| Q3 24 | -2.7% | -7.2% | ||
| Q2 24 | 2.0% | -8.7% | ||
| Q1 24 | -6.5% | -14.4% |
净利率CLOVNET
| Q4 25 | -10.1% | -2.0% | ||
| Q3 25 | -4.9% | -0.2% | ||
| Q2 25 | -2.2% | -9.8% | ||
| Q1 25 | -0.3% | -8.0% | ||
| Q4 24 | -6.6% | -2.8% | ||
| Q3 24 | -2.8% | -3.6% | ||
| Q2 24 | 2.1% | -3.8% | ||
| Q1 24 | -5.5% | -9.4% |
每股收益（稀释后）CLOVNET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-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 | $78.3M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $308.7M | $1.5B |
| 总资产 | $541.0M | $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CLOVNET
| Q4 25 | $78.3M | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | $194.5M | $147.7M | ||
| Q3 24 | $288.0M | $182.9M | ||
| Q2 24 | $254.8M | $157.0M | ||
| Q1 24 | $208.3M | $254.4M |
股东权益CLOVNET
| Q4 25 | $308.7M | $1.5B | ||
| Q3 25 | $340.9M | $1.3B | ||
| Q2 25 | $344.2M | $1.2B | ||
| Q1 25 | $336.1M | $1.4B | ||
| Q4 24 | $341.1M | $1.0B | ||
| Q3 24 | $342.2M | $973.1M | ||
| Q2 24 | $324.9M | $881.5M | ||
| Q1 24 | $292.5M | $797.2M |
总资产CLOVNET
| Q4 25 | $541.0M | $6.0B | ||
| Q3 25 | $559.7M | $5.8B | ||
| Q2 25 | $575.0M | $5.6B | ||
| Q1 25 | $583.7M | $3.7B | ||
| Q4 24 | $580.7M | $3.3B | ||
| Q3 24 | $653.0M | $3.1B | ||
| Q2 24 | $674.2M | $2.9B | ||
| Q1 24 | $671.8M | $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 | $-66.9M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-69.0M | $105.2M |
| 自由现金流率自由现金流/营收 | -14.1% | 17.1% |
| 资本支出强度资本支出/营收 | 0.4% | 13.9% |
| 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 | $-69.2M | $287.5M |
8季度趋势，按日历期对齐
经营现金流CLOVNET
| Q4 25 | $-66.9M | $190.4M | ||
| Q3 25 | $12.1M | $167.1M | ||
| Q2 25 | $5.4M | $99.8M | ||
| Q1 25 | $-16.3M | $145.8M | ||
| Q4 24 | $34.8M | $127.3M | ||
| Q3 24 | $50.0M | $104.7M | ||
| Q2 24 | $44.8M | $74.8M | ||
| Q1 24 | $25.9M | $73.6M |
自由现金流CLOVNET
| Q4 25 | $-69.0M | $105.2M | ||
| Q3 25 | $11.4M | $82.5M | ||
| Q2 25 | $4.8M | $39.9M | ||
| Q1 25 | $-16.5M | $59.9M | ||
| Q4 24 | $33.3M | $54.2M | ||
| Q3 24 | $49.6M | $54.5M | ||
| Q2 24 | $44.4M | $45.2M | ||
| Q1 24 | $25.5M | $41.5M |
自由现金流率CLOVNET
| Q4 25 | -14.1% | 17.1% | ||
| Q3 25 | 2.3% | 14.7% | ||
| Q2 25 | 1.0% | 7.8% | ||
| Q1 25 | -3.6% | 12.5% | ||
| Q4 24 | 9.9% | 11.8% | ||
| Q3 24 | 15.0% | 12.7% | ||
| Q2 24 | 12.5% | 11.3% | ||
| Q1 24 | 7.3% | 11.0% |
资本支出强度CLOVNET
| Q4 25 | 0.4% | 13.9% | ||
| Q3 25 | 0.1% | 15.1% | ||
| Q2 25 | 0.1% | 11.7% | ||
| Q1 25 | 0.0% | 17.9% | ||
| Q4 24 | 0.5% | 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CLOVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.04× | — | ||
| Q1 24 | — | — |
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
CLOV
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
