vs
Clearwater Paper Corp（CLW）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Clearwater Paper Corp的1.8倍（$639.8M vs $360.3M），Clearwater Paper Corp净利率更高（-3.6% vs -3.6%，领先0.0%），Cloudflare, Inc.同比增速更快（33.5% vs -4.7%），过去两年Cloudflare, Inc.的营收复合增速更高（26.3% vs 2.3%）
净水纸业公司是美国的一家纸浆与纸板制造商，总部位于华盛顿州斯波坎。公司于2008年12月9日从波特拉奇公司分拆设立，专注于纸浆及纸板产品的研发生产与销售，是北美地区该领域颇具影响力的生产企业。
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。
CLW vs NET — 直观对比
营收规模更大
NET
是对方的1.8倍
$360.3M
营收增速更快
NET
高出38.3%
-4.7%
净利率更高
CLW
高出0.0%
-3.6%
两年增速更快
NET
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $360.3M | $639.8M |
| 净利润 | $-12.8M | $-22.9M |
| 毛利率 | -0.2% | 71.2% |
| 营业利润率 | — | 19.1% |
| 净利率 | -3.6% | -3.6% |
| 营收同比 | -4.7% | 33.5% |
| 净利润同比 | -103.2% | 40.4% |
| 每股收益（稀释后） | — | $-0.07 |
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CLWNET
| Q1 26 | $360.3M | $639.8M | ||
| Q4 25 | $386.4M | $614.5M | ||
| Q3 25 | $399.0M | $562.0M | ||
| Q2 25 | $391.8M | $512.3M | ||
| Q1 25 | $378.2M | $479.1M | ||
| Q4 24 | $387.1M | $459.9M | ||
| Q3 24 | $393.3M | $430.1M | ||
| Q2 24 | $344.4M | $401.0M |
净利润CLWNET
| Q1 26 | $-12.8M | $-22.9M | ||
| Q4 25 | $38.3M | $-12.1M | ||
| Q3 25 | $-53.3M | $-1.3M | ||
| Q2 25 | $2.7M | $-50.4M | ||
| Q1 25 | $-6.3M | $-38.5M | ||
| Q4 24 | $199.1M | $-12.8M | ||
| Q3 24 | $5.8M | $-15.3M | ||
| Q2 24 | $-25.8M | $-15.1M |
毛利率CLWNET
| Q1 26 | -0.2% | 71.2% | ||
| Q4 25 | 4.5% | 73.6% | ||
| Q3 25 | 4.7% | 74.0% | ||
| Q2 25 | 11.0% | 74.9% | ||
| Q1 25 | 9.7% | 75.9% | ||
| Q4 24 | 3.8% | 76.4% | ||
| Q3 24 | 7.7% | 77.7% | ||
| Q2 24 | -0.6% | 77.8% |
营业利润率CLWNET
| Q1 26 | — | 19.1% | ||
| Q4 25 | 1.9% | -8.0% | ||
| Q3 25 | -13.9% | -6.7% | ||
| Q2 25 | 2.5% | -13.1% | ||
| Q1 25 | -1.1% | -11.1% | ||
| Q4 24 | -4.0% | -7.5% | ||
| Q3 24 | -0.3% | -7.2% | ||
| Q2 24 | -13.6% | -8.7% |
净利率CLWNET
| Q1 26 | -3.6% | -3.6% | ||
| Q4 25 | 9.9% | -2.0% | ||
| Q3 25 | -13.4% | -0.2% | ||
| Q2 25 | 0.7% | -9.8% | ||
| Q1 25 | -1.7% | -8.0% | ||
| Q4 24 | 51.4% | -2.8% | ||
| Q3 24 | 1.5% | -3.6% | ||
| Q2 24 | -7.5% | -3.8% |
每股收益（稀释后）CLWNET
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $2.36 | $-0.03 | ||
| Q3 25 | $-3.30 | $0.00 | ||
| Q2 25 | $0.17 | $-0.15 | ||
| Q1 25 | $-0.38 | $-0.11 | ||
| Q4 24 | $11.87 | $-0.05 | ||
| Q3 24 | $0.35 | $-0.04 | ||
| Q2 24 | $-1.55 | $-0.04 |
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 | $36.5M | $932.2M |
| 总债务越低越好 | $361.1M | — |
| 股东权益账面价值 | $813.8M | $1.5B |
| 总资产 | $1.6B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
现金及短期投资CLWNET
| Q1 26 | $36.5M | $932.2M | ||
| Q4 25 | $30.7M | $943.5M | ||
| Q3 25 | $34.4M | $1.1B | ||
| Q2 25 | $46.7M | $1.5B | ||
| Q1 25 | $44.0M | $204.5M | ||
| Q4 24 | $79.6M | $147.7M | ||
| Q3 24 | $35.5M | $182.9M | ||
| Q2 24 | $39.6M | $157.0M |
总债务CLWNET
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
股东权益CLWNET
| Q1 26 | $813.8M | $1.5B | ||
| Q4 25 | $825.3M | $1.5B | ||
| Q3 25 | $783.0M | $1.3B | ||
| Q2 25 | $836.8M | $1.2B | ||
| Q1 25 | $836.6M | $1.4B | ||
| Q4 24 | $854.6M | $1.0B | ||
| Q3 24 | $664.6M | $973.1M | ||
| Q2 24 | $658.6M | $881.5M |
总资产CLWNET
| Q1 26 | $1.6B | $6.2B | ||
| Q4 25 | $1.6B | $6.0B | ||
| Q3 25 | $1.6B | $5.8B | ||
| Q2 25 | $1.6B | $5.6B | ||
| Q1 25 | $1.6B | $3.7B | ||
| Q4 24 | $1.7B | $3.3B | ||
| Q3 24 | $2.5B | $3.1B | ||
| Q2 24 | $2.5B | $2.9B |
负债/权益比CLWNET
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
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 | — | $158.3M |
| 自由现金流经营现金流 - 资本支出 | — | $84.1M |
| 自由现金流率自由现金流/营收 | — | 13.1% |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | $311.7M |
8季度趋势，按日历期对齐
经营现金流CLWNET
| Q1 26 | — | $158.3M | ||
| Q4 25 | $5.0M | $190.4M | ||
| Q3 25 | $34.0M | $167.1M | ||
| Q2 25 | $-28.2M | $99.8M | ||
| Q1 25 | $1.5M | $145.8M | ||
| Q4 24 | $-35.1M | $127.3M | ||
| Q3 24 | $16.2M | $104.7M | ||
| Q2 24 | $21.1M | $74.8M |
自由现金流CLWNET
| Q1 26 | — | $84.1M | ||
| Q4 25 | $-9.9M | $105.2M | ||
| Q3 25 | $15.7M | $82.5M | ||
| Q2 25 | $-51.1M | $39.9M | ||
| Q1 25 | $-31.2M | $59.9M | ||
| Q4 24 | $-68.1M | $54.2M | ||
| Q3 24 | $-30.8M | $54.5M | ||
| Q2 24 | $3.0M | $45.2M |
自由现金流率CLWNET
| Q1 26 | — | 13.1% | ||
| Q4 25 | -2.6% | 17.1% | ||
| Q3 25 | 3.9% | 14.7% | ||
| Q2 25 | -13.0% | 7.8% | ||
| Q1 25 | -8.2% | 12.5% | ||
| Q4 24 | -17.6% | 11.8% | ||
| Q3 24 | -7.8% | 12.7% | ||
| Q2 24 | 0.9% | 11.3% |
资本支出强度CLWNET
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 13.9% | ||
| Q3 25 | 4.6% | 15.1% | ||
| Q2 25 | 5.8% | 11.7% | ||
| Q1 25 | 8.6% | 17.9% | ||
| Q4 24 | 8.5% | 15.9% | ||
| Q3 24 | 12.0% | 11.7% | ||
| Q2 24 | 5.3% | 7.4% |
现金转化率CLWNET
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -10.44× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | — | ||
| Q3 24 | 2.79× | — | ||
| Q2 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
