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CNX Resources Corp（CNX）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CNX Resources Corp的1.0倍（$614.5M vs $610.5M），CNX Resources Corp净利率更高（32.1% vs -2.0%，领先34.1%），CNX Resources Corp同比增速更快（347.0% vs 33.6%），CNX Resources Corp自由现金流更多（$122.6M vs $105.2M），过去两年CNX Resources Corp的营收复合增速更高（32.0% vs 27.4%）
CNX资源公司是总部位于美国匹兹堡的天然气企业，业务布局覆盖阿巴拉契亚盆地，核心产区位于宾夕法尼亚州、俄亥俄州、西弗吉尼亚州的马塞勒斯和尤蒂卡页岩区，同时在弗吉尼亚州开发煤层气资产、运营甲烷捕获减排项目，拥有完善的中游业务体系，是美国规模最大的天然气生产商之一。
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。
CNX vs NET — 直观对比
营收规模更大
NET
是对方的1.0倍
$610.5M
营收增速更快
CNX
高出313.4%
33.6%
净利率更高
CNX
高出34.1%
-2.0%
自由现金流更多
CNX
多$17.4M
$105.2M
两年增速更快
CNX
近两年复合增速
27.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $610.5M | $614.5M |
| 净利润 | $196.3M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | — | -8.0% |
| 净利率 | 32.1% | -2.0% |
| 营收同比 | 347.0% | 33.6% |
| 净利润同比 | 235.7% | 6.0% |
| 每股收益（稀释后） | $1.58 | $-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CNXNET
| Q4 25 | $610.5M | $614.5M | ||
| Q3 25 | $583.8M | $562.0M | ||
| Q2 25 | $962.4M | $512.3M | ||
| Q1 25 | — | $479.1M | ||
| Q4 24 | — | $459.9M | ||
| Q3 24 | $424.2M | $430.1M | ||
| Q2 24 | $321.4M | $401.0M | ||
| Q1 24 | $384.6M | $378.6M |
净利润CNXNET
| Q4 25 | $196.3M | $-12.1M | ||
| Q3 25 | $202.1M | $-1.3M | ||
| Q2 25 | $432.5M | $-50.4M | ||
| Q1 25 | — | $-38.5M | ||
| Q4 24 | — | $-12.8M | ||
| Q3 24 | $65.5M | $-15.3M | ||
| Q2 24 | $-18.3M | $-15.1M | ||
| Q1 24 | $6.9M | $-35.5M |
毛利率CNXNET
| 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CNXNET
| Q4 25 | — | -8.0% | ||
| Q3 25 | — | -6.7% | ||
| Q2 25 | — | -13.1% | ||
| Q1 25 | — | -11.1% | ||
| Q4 24 | — | -7.5% | ||
| Q3 24 | — | -7.2% | ||
| Q2 24 | — | -8.7% | ||
| Q1 24 | — | -14.4% |
净利率CNXNET
| Q4 25 | 32.1% | -2.0% | ||
| Q3 25 | 34.6% | -0.2% | ||
| Q2 25 | 44.9% | -9.8% | ||
| Q1 25 | — | -8.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | 15.4% | -3.6% | ||
| Q2 24 | -5.7% | -3.8% | ||
| Q1 24 | 1.8% | -9.4% |
每股收益（稀释后）CNXNET
| Q4 25 | $1.58 | $-0.03 | ||
| Q3 25 | $1.21 | $0.00 | ||
| Q2 25 | $2.53 | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $0.37 | $-0.04 | ||
| Q2 24 | $-0.12 | $-0.04 | ||
| Q1 24 | $0.04 | $-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 | $779.0K | $943.5M |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $4.3B | $1.5B |
| 总资产 | $9.1B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资CNXNET
| Q4 25 | $779.0K | $943.5M | ||
| Q3 25 | $4.7M | $1.1B | ||
| Q2 25 | $3.4M | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | $1.3M | $182.9M | ||
| Q2 24 | $3.9M | $157.0M | ||
| Q1 24 | $2.0M | $254.4M |
总债务CNXNET
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.3B | — |
股东权益CNXNET
| Q4 25 | $4.3B | $1.5B | ||
| Q3 25 | $4.1B | $1.3B | ||
| Q2 25 | $4.1B | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $4.3B | $973.1M | ||
| Q2 24 | $4.3B | $881.5M | ||
| Q1 24 | $4.3B | $797.2M |
总资产CNXNET
| Q4 25 | $9.1B | $6.0B | ||
| Q3 25 | $8.9B | $5.8B | ||
| Q2 25 | $9.0B | $5.6B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $8.5B | $3.1B | ||
| Q2 24 | $8.6B | $2.9B | ||
| Q1 24 | $8.7B | $2.8B |
负债/权益比CNXNET
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 0.53× | — |
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 | $297.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $122.6M | $105.2M |
| 自由现金流率自由现金流/营收 | 20.1% | 17.1% |
| 资本支出强度资本支出/营收 | 28.6% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.51× | — |
| 过去12个月自由现金流最近4个季度 | $505.2M | $287.5M |
8季度趋势，按日历期对齐
经营现金流CNXNET
| Q4 25 | $297.0M | $190.4M | ||
| Q3 25 | $233.8M | $167.1M | ||
| Q2 25 | $282.5M | $99.8M | ||
| Q1 25 | — | $145.8M | ||
| Q4 24 | — | $127.3M | ||
| Q3 24 | $170.2M | $104.7M | ||
| Q2 24 | $191.8M | $74.8M | ||
| Q1 24 | $185.1M | $73.6M |
自由现金流CNXNET
| Q4 25 | $122.6M | $105.2M | ||
| Q3 25 | $158.2M | $82.5M | ||
| Q2 25 | $168.9M | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | $55.4M | $54.5M | ||
| Q2 24 | $39.8M | $45.2M | ||
| Q1 24 | $16.9M | $41.5M |
自由现金流率CNXNET
| Q4 25 | 20.1% | 17.1% | ||
| Q3 25 | 27.1% | 14.7% | ||
| Q2 25 | 17.6% | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 13.1% | 12.7% | ||
| Q2 24 | 12.4% | 11.3% | ||
| Q1 24 | 4.4% | 11.0% |
资本支出强度CNXNET
| Q4 25 | 28.6% | 13.9% | ||
| Q3 25 | 12.9% | 15.1% | ||
| Q2 25 | 11.8% | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | 27.0% | 11.7% | ||
| Q2 24 | 47.3% | 7.4% | ||
| Q1 24 | 43.7% | 8.5% |
现金转化率CNXNET
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.16× | — | ||
| Q2 25 | 0.65× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.60× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 27.01× | — |
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
CNX
| Natural Gas Reserves | $436.6M | 72% |
| Other | $66.8M | 11% |
| NG Ls | $38.1M | 6% |
| Coalbed Methane | $35.2M | 6% |
| Shale | $17.5M | 3% |
| Oil And Gas Purchased | $14.4M | 2% |
| Oil And Condensate | $1.9M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
