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AMERICOLD REALTY TRUST（COLD）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
AMERICOLD REALTY TRUST的季度营收约是Cloudflare, Inc.的1.0倍（$643.1M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -13.7%，领先11.8%），Cloudflare, Inc.同比增速更快（33.6% vs -0.7%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-12.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
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。
COLD vs NET — 直观对比
营收规模更大
COLD
是对方的1.0倍
$614.5M
营收增速更快
NET
高出34.3%
-0.7%
净利率更高
NET
高出11.8%
-13.7%
自由现金流更多
NET
多$117.4M
$-12.2M
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 | $643.1M | $614.5M |
| 净利润 | $-88.3M | $-12.1M |
| 毛利率 | 31.3% | 73.6% |
| 营业利润率 | -10.8% | -8.0% |
| 净利率 | -13.7% | -2.0% |
| 营收同比 | -0.7% | 33.6% |
| 净利润同比 | -143.9% | 6.0% |
| 每股收益（稀释后） | $-0.31 | $-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COLDNET
| Q4 25 | $643.1M | $614.5M | ||
| Q3 25 | $649.0M | $562.0M | ||
| Q2 25 | $635.1M | $512.3M | ||
| Q1 25 | $613.7M | $479.1M | ||
| Q4 24 | $647.4M | $459.9M | ||
| Q3 24 | $660.4M | $430.1M | ||
| Q2 24 | $645.6M | $401.0M | ||
| Q1 24 | $651.4M | $378.6M |
净利润COLDNET
| Q4 25 | $-88.3M | $-12.1M | ||
| Q3 25 | $-11.4M | $-1.3M | ||
| Q2 25 | $1.5M | $-50.4M | ||
| Q1 25 | $-16.4M | $-38.5M | ||
| Q4 24 | $-36.2M | $-12.8M | ||
| Q3 24 | $-3.7M | $-15.3M | ||
| Q2 24 | $-64.1M | $-15.1M | ||
| Q1 24 | $9.7M | $-35.5M |
毛利率COLDNET
| Q4 25 | 31.3% | 73.6% | ||
| Q3 25 | 29.3% | 74.0% | ||
| Q2 25 | 30.9% | 74.9% | ||
| Q1 25 | 31.1% | 75.9% | ||
| Q4 24 | 29.7% | 76.4% | ||
| Q3 24 | 29.6% | 77.7% | ||
| Q2 24 | 31.0% | 77.8% | ||
| Q1 24 | 30.3% | 77.5% |
营业利润率COLDNET
| Q4 25 | -10.8% | -8.0% | ||
| Q3 25 | 2.6% | -6.7% | ||
| Q2 25 | 5.9% | -13.1% | ||
| Q1 25 | 3.6% | -11.1% | ||
| Q4 24 | -1.8% | -7.5% | ||
| Q3 24 | 4.6% | -7.2% | ||
| Q2 24 | 9.8% | -8.7% | ||
| Q1 24 | 6.4% | -14.4% |
净利率COLDNET
| Q4 25 | -13.7% | -2.0% | ||
| Q3 25 | -1.8% | -0.2% | ||
| Q2 25 | 0.2% | -9.8% | ||
| Q1 25 | -2.7% | -8.0% | ||
| Q4 24 | -5.6% | -2.8% | ||
| Q3 24 | -0.6% | -3.6% | ||
| Q2 24 | -9.9% | -3.8% | ||
| Q1 24 | 1.5% | -9.4% |
每股收益（稀释后）COLDNET
| Q4 25 | $-0.31 | $-0.03 | ||
| Q3 25 | $-0.04 | $0.00 | ||
| Q2 25 | $0.01 | $-0.15 | ||
| Q1 25 | $-0.06 | $-0.11 | ||
| Q4 24 | $-0.12 | $-0.05 | ||
| Q3 24 | $-0.01 | $-0.04 | ||
| Q2 24 | $-0.23 | $-0.04 | ||
| Q1 24 | $0.03 | $-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 | $136.9M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.9B | $1.5B |
| 总资产 | $8.1B | $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COLDNET
| Q4 25 | $136.9M | $943.5M | ||
| Q3 25 | $33.3M | $1.1B | ||
| Q2 25 | $101.4M | $1.5B | ||
| Q1 25 | $38.9M | $204.5M | ||
| Q4 24 | $47.7M | $147.7M | ||
| Q3 24 | $61.3M | $182.9M | ||
| Q2 24 | $44.2M | $157.0M | ||
| Q1 24 | $59.2M | $254.4M |
股东权益COLDNET
| Q4 25 | $2.9B | $1.5B | ||
| Q3 25 | $3.0B | $1.3B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.2B | $1.4B | ||
| Q4 24 | $3.3B | $1.0B | ||
| Q3 24 | $3.4B | $973.1M | ||
| Q2 24 | $3.4B | $881.5M | ||
| Q1 24 | $3.6B | $797.2M |
总资产COLDNET
| Q4 25 | $8.1B | $6.0B | ||
| Q3 25 | $8.1B | $5.8B | ||
| Q2 25 | $8.1B | $5.6B | ||
| Q1 25 | $7.8B | $3.7B | ||
| Q4 24 | $7.7B | $3.3B | ||
| Q3 24 | $7.9B | $3.1B | ||
| Q2 24 | $7.8B | $2.9B | ||
| Q1 24 | $7.8B | $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 | $130.2M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | $105.2M |
| 自由现金流率自由现金流/营收 | -1.9% | 17.1% |
| 资本支出强度资本支出/营收 | 22.1% | 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 | $-217.2M | $287.5M |
8季度趋势，按日历期对齐
经营现金流COLDNET
| Q4 25 | $130.2M | $190.4M | ||
| Q3 25 | $78.9M | $167.1M | ||
| Q2 25 | $120.3M | $99.8M | ||
| Q1 25 | $30.2M | $145.8M | ||
| Q4 24 | $162.6M | $127.3M | ||
| Q3 24 | $50.6M | $104.7M | ||
| Q2 24 | $136.7M | $74.8M | ||
| Q1 24 | $62.0M | $73.6M |
自由现金流COLDNET
| Q4 25 | $-12.2M | $105.2M | ||
| Q3 25 | $-65.4M | $82.5M | ||
| Q2 25 | $-57.4M | $39.9M | ||
| Q1 25 | $-82.3M | $59.9M | ||
| Q4 24 | $57.4M | $54.2M | ||
| Q3 24 | $-44.5M | $54.5M | ||
| Q2 24 | $73.3M | $45.2M | ||
| Q1 24 | $16.2M | $41.5M |
自由现金流率COLDNET
| Q4 25 | -1.9% | 17.1% | ||
| Q3 25 | -10.1% | 14.7% | ||
| Q2 25 | -9.0% | 7.8% | ||
| Q1 25 | -13.4% | 12.5% | ||
| Q4 24 | 8.9% | 11.8% | ||
| Q3 24 | -6.7% | 12.7% | ||
| Q2 24 | 11.4% | 11.3% | ||
| Q1 24 | 2.5% | 11.0% |
资本支出强度COLDNET
| Q4 25 | 22.1% | 13.9% | ||
| Q3 25 | 22.2% | 15.1% | ||
| Q2 25 | 28.0% | 11.7% | ||
| Q1 25 | 18.3% | 17.9% | ||
| Q4 24 | 16.3% | 15.9% | ||
| Q3 24 | 14.4% | 11.7% | ||
| Q2 24 | 9.8% | 7.4% | ||
| Q1 24 | 7.0% | 8.5% |
现金转化率COLDNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 78.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 6.36× | — |
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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
