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CNO Financial Group, Inc.（CNO）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
CNO Financial Group, Inc.的季度营收约是Cloudflare, Inc.的1.9倍（$1.1B vs $614.5M），CNO Financial Group, Inc.净利率更高（8.8% vs -2.0%，领先10.8%），Cloudflare, Inc.同比增速更快（33.6% vs 4.2%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -0.6%）
CNO金融集团是总部位于美国印第安纳州卡梅尔的金融服务控股公司，前身为康塞科公司。集团旗下保险子公司为美国超400万客户提供人寿保险、年金和补充健康保险产品，通过独立代理人、专属代理人，以及电视广告、直邮等直销触达用户。
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。
CNO vs NET — 直观对比
营收规模更大
CNO
是对方的1.9倍
$614.5M
营收增速更快
NET
高出29.4%
4.2%
净利率更高
CNO
高出10.8%
-2.0%
两年增速更快
NET
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $614.5M |
| 净利润 | $100.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 15.2% | -8.0% |
| 净利率 | 8.8% | -2.0% |
| 营收同比 | 4.2% | 33.6% |
| 净利润同比 | -39.4% | 6.0% |
| 每股收益（稀释后） | $1.02 | $-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CNONET
| Q4 25 | $1.1B | $614.5M | ||
| Q3 25 | $1.2B | $562.0M | ||
| Q2 25 | $1.2B | $512.3M | ||
| Q1 25 | $1.0B | $479.1M | ||
| Q4 24 | $1.1B | $459.9M | ||
| Q3 24 | $1.1B | $430.1M | ||
| Q2 24 | $1.1B | $401.0M | ||
| Q1 24 | $1.2B | $378.6M |
净利润CNONET
| Q4 25 | $100.7M | $-12.1M | ||
| Q3 25 | $23.1M | $-1.3M | ||
| Q2 25 | $91.8M | $-50.4M | ||
| Q1 25 | $13.7M | $-38.5M | ||
| Q4 24 | $166.1M | $-12.8M | ||
| Q3 24 | $9.3M | $-15.3M | ||
| Q2 24 | $116.3M | $-15.1M | ||
| Q1 24 | $112.3M | $-35.5M |
毛利率CNONET
| 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CNONET
| Q4 25 | 15.2% | -8.0% | ||
| Q3 25 | 13.7% | -6.7% | ||
| Q2 25 | 9.8% | -13.1% | ||
| Q1 25 | 10.4% | -11.1% | ||
| Q4 24 | 15.8% | -7.5% | ||
| Q3 24 | 13.6% | -7.2% | ||
| Q2 24 | 13.9% | -8.7% | ||
| Q1 24 | 6.5% | -14.4% |
净利率CNONET
| Q4 25 | 8.8% | -2.0% | ||
| Q3 25 | 1.9% | -0.2% | ||
| Q2 25 | 8.0% | -9.8% | ||
| Q1 25 | 1.4% | -8.0% | ||
| Q4 24 | 15.1% | -2.8% | ||
| Q3 24 | 0.8% | -3.6% | ||
| Q2 24 | 10.9% | -3.8% | ||
| Q1 24 | 9.7% | -9.4% |
每股收益（稀释后）CNONET
| Q4 25 | $1.02 | $-0.03 | ||
| Q3 25 | $0.24 | $0.00 | ||
| Q2 25 | $0.91 | $-0.15 | ||
| Q1 25 | $0.13 | $-0.11 | ||
| Q4 24 | $1.58 | $-0.05 | ||
| Q3 24 | $0.09 | $-0.04 | ||
| Q2 24 | $1.06 | $-0.04 | ||
| Q1 24 | $1.01 | $-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 | $2.6B | $1.5B |
| 总资产 | $38.8B | $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CNONET
| 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CNONET
| Q4 25 | $2.6B | $1.5B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.5B | $1.2B | ||
| Q1 25 | $2.5B | $1.4B | ||
| Q4 24 | $2.5B | $1.0B | ||
| Q3 24 | $2.7B | $973.1M | ||
| Q2 24 | $2.4B | $881.5M | ||
| Q1 24 | $2.4B | $797.2M |
总资产CNONET
| Q4 25 | $38.8B | $6.0B | ||
| Q3 25 | $38.3B | $5.8B | ||
| Q2 25 | $37.3B | $5.6B | ||
| Q1 25 | $37.4B | $3.7B | ||
| Q4 24 | $37.9B | $3.3B | ||
| Q3 24 | $37.6B | $3.1B | ||
| Q2 24 | $36.3B | $2.9B | ||
| Q1 24 | $34.9B | $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 | $195.7M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | — | $105.2M |
| 自由现金流率自由现金流/营收 | — | 17.1% |
| 资本支出强度资本支出/营收 | — | 13.9% |
| 现金转化率经营现金流/净利润 | 1.94× | — |
| 过去12个月自由现金流最近4个季度 | — | $287.5M |
8季度趋势，按日历期对齐
经营现金流CNONET
| Q4 25 | $195.7M | $190.4M | ||
| Q3 25 | $197.8M | $167.1M | ||
| Q2 25 | $145.5M | $99.8M | ||
| Q1 25 | $136.7M | $145.8M | ||
| Q4 24 | $191.0M | $127.3M | ||
| Q3 24 | $231.2M | $104.7M | ||
| Q2 24 | $110.9M | $74.8M | ||
| Q1 24 | $94.6M | $73.6M |
自由现金流CNONET
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M | ||
| Q1 24 | — | $41.5M |
自由现金流率CNONET
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 11.0% |
资本支出强度CNONET
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 8.5% |
现金转化率CNONET
| Q4 25 | 1.94× | — | ||
| Q3 25 | 8.56× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 9.98× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 24.86× | — | ||
| Q2 24 | 0.95× | — | ||
| Q1 24 | 0.84× | — |
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
CNO
| Health Insurance Product Line | $496.4M | 43% |
| Life Insurance Segment | $268.8M | 24% |
| Other | $207.2M | 18% |
| Life And Annuity Insurance Product Line | $170.7M | 15% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
