vs
CrowdStrike（CRWD）与硕腾（ZTS）财务数据对比。点击上方公司名可切换其他公司
硕腾的季度营收约是CrowdStrike的1.9倍（$2.4B vs $1.2B），硕腾净利率更高（25.3% vs -2.8%，领先28.0%），CrowdStrike同比增速更快（22.2% vs 3.0%），硕腾自由现金流更多（$732.0M vs $314.1M），过去两年CrowdStrike的营收复合增速更高（20.8% vs 4.4%）
CrowdStrike Holdings, Inc.是总部位于美国得克萨斯州奥斯汀的网络安全科技企业，核心业务涵盖终端安全防护、威胁情报提供与网络攻击响应服务，可为全球各行业客户有效应对各类网络安全风险，保障系统与数据安全。
硕腾是全球规模最大的动物保健制药企业，专注于宠物与家畜用药品、疫苗的研发和生产，前身为制药巨头辉瑞旗下的动物保健业务板块，辉瑞剥离多数股权后成为完全独立的企业。目前公司产品直销约45个国家，在全球超过100个国家和地区销售，海外业务占总营收的50%左右。
CRWD vs ZTS — 直观对比
营收规模更大
ZTS
是对方的1.9倍
$1.2B
营收增速更快
CRWD
高出19.2%
3.0%
净利率更高
ZTS
高出28.0%
-2.8%
自由现金流更多
ZTS
多$417.9M
$314.1M
两年增速更快
CRWD
近两年复合增速
4.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.4B |
| 净利润 | $-34.0M | $603.0M |
| 毛利率 | 75.1% | 70.2% |
| 营业利润率 | -5.6% | 31.9% |
| 净利率 | -2.8% | 25.3% |
| 营收同比 | 22.2% | 3.0% |
| 净利润同比 | -102.1% | 3.8% |
| 每股收益（稀释后） | $-0.14 | $1.37 |
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CRWDZTS
| Q4 25 | $1.2B | $2.4B | ||
| Q3 25 | $1.2B | $2.4B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.1B | $2.2B | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $963.9M | $2.4B | ||
| Q2 24 | $921.0M | $2.4B | ||
| Q1 24 | $845.3M | $2.2B |
净利润CRWDZTS
| Q4 25 | $-34.0M | $603.0M | ||
| Q3 25 | $-77.7M | $721.0M | ||
| Q2 25 | $-110.2M | $718.0M | ||
| Q1 25 | $-92.3M | $631.0M | ||
| Q4 24 | $-16.8M | $581.0M | ||
| Q3 24 | $47.0M | $682.0M | ||
| Q2 24 | $42.8M | $624.0M | ||
| Q1 24 | $53.7M | $599.0M |
毛利率CRWDZTS
| Q4 25 | 75.1% | 70.2% | ||
| Q3 25 | 73.5% | 71.5% | ||
| Q2 25 | 73.8% | 73.6% | ||
| Q1 25 | 74.1% | 72.0% | ||
| Q4 24 | 74.7% | 69.5% | ||
| Q3 24 | 75.4% | 70.6% | ||
| Q2 24 | 75.6% | 71.7% | ||
| Q1 24 | 75.3% | 70.6% |
营业利润率CRWDZTS
| Q4 25 | -5.6% | 31.9% | ||
| Q3 25 | -9.7% | 37.0% | ||
| Q2 25 | -11.3% | 36.7% | ||
| Q1 25 | -8.1% | 36.5% | ||
| Q4 24 | -5.5% | 31.6% | ||
| Q3 24 | 1.4% | 36.6% | ||
| Q2 24 | 0.8% | 33.0% | ||
| Q1 24 | 3.5% | 34.1% |
净利率CRWDZTS
| Q4 25 | -2.8% | 25.3% | ||
| Q3 25 | -6.6% | 30.0% | ||
| Q2 25 | -10.0% | 29.2% | ||
| Q1 25 | -8.7% | 28.4% | ||
| Q4 24 | -1.7% | 25.1% | ||
| Q3 24 | 4.9% | 28.6% | ||
| Q2 24 | 4.6% | 26.4% | ||
| Q1 24 | 6.4% | 27.4% |
每股收益（稀释后）CRWDZTS
| Q4 25 | $-0.14 | $1.37 | ||
| Q3 25 | $-0.31 | $1.63 | ||
| Q2 25 | $-0.44 | $1.61 | ||
| Q1 25 | $-0.37 | $1.41 | ||
| Q4 24 | $-0.07 | $1.29 | ||
| Q3 24 | $0.19 | $1.50 | ||
| Q2 24 | $0.17 | $1.37 | ||
| Q1 24 | $0.23 | $1.31 |
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 | $4.8B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.0B | $3.3B |
| 总资产 | $10.0B | $15.5B |
| 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CRWDZTS
| Q4 25 | $4.8B | — | ||
| Q3 25 | $5.0B | $2.1B | ||
| Q2 25 | $4.6B | $1.4B | ||
| Q1 25 | $4.3B | $1.7B | ||
| Q4 24 | $4.3B | $2.0B | ||
| Q3 24 | $4.0B | $1.7B | ||
| Q2 24 | $3.7B | $1.6B | ||
| Q1 24 | $3.5B | $2.0B |
股东权益CRWDZTS
| Q4 25 | $4.0B | $3.3B | ||
| Q3 25 | $3.8B | $5.4B | ||
| Q2 25 | $3.5B | $5.0B | ||
| Q1 25 | $3.3B | $4.7B | ||
| Q4 24 | $3.1B | $4.8B | ||
| Q3 24 | $2.9B | $5.2B | ||
| Q2 24 | $2.5B | $5.0B | ||
| Q1 24 | $2.3B | $5.1B |
总资产CRWDZTS
| Q4 25 | $10.0B | $15.5B | ||
| Q3 25 | $9.3B | $15.2B | ||
| Q2 25 | $8.7B | $14.5B | ||
| Q1 25 | $8.7B | $14.1B | ||
| Q4 24 | $7.8B | $14.2B | ||
| Q3 24 | $7.2B | $14.4B | ||
| Q2 24 | $6.8B | $14.2B | ||
| Q1 24 | $6.6B | $14.3B |
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 | $397.5M | $893.0M |
| 自由现金流经营现金流 - 资本支出 | $314.1M | $732.0M |
| 自由现金流率自由现金流/营收 | 25.5% | 30.7% |
| 资本支出强度资本支出/营收 | 6.8% | 6.7% |
| 现金转化率经营现金流/净利润 | — | 1.48× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $2.3B |
8季度趋势，按日历期对齐
经营现金流CRWDZTS
| Q4 25 | $397.5M | $893.0M | ||
| Q3 25 | $332.8M | $938.0M | ||
| Q2 25 | $384.1M | $486.0M | ||
| Q1 25 | $345.7M | $587.0M | ||
| Q4 24 | $326.1M | $905.0M | ||
| Q3 24 | $326.6M | $951.0M | ||
| Q2 24 | $383.2M | $502.0M | ||
| Q1 24 | $347.0M | $595.0M |
自由现金流CRWDZTS
| Q4 25 | $314.1M | $732.0M | ||
| Q3 25 | $302.3M | $805.0M | ||
| Q2 25 | $298.4M | $308.0M | ||
| Q1 25 | $258.5M | $438.0M | ||
| Q4 24 | $247.4M | $689.0M | ||
| Q3 24 | $287.4M | $784.0M | ||
| Q2 24 | $333.5M | $370.0M | ||
| Q1 24 | $294.4M | $455.0M |
自由现金流率CRWDZTS
| Q4 25 | 25.5% | 30.7% | ||
| Q3 25 | 25.9% | 33.5% | ||
| Q2 25 | 27.0% | 12.5% | ||
| Q1 25 | 24.4% | 19.7% | ||
| Q4 24 | 24.5% | 29.7% | ||
| Q3 24 | 29.8% | 32.8% | ||
| Q2 24 | 36.2% | 15.7% | ||
| Q1 24 | 34.8% | 20.8% |
资本支出强度CRWDZTS
| Q4 25 | 6.8% | 6.7% | ||
| Q3 25 | 2.6% | 5.5% | ||
| Q2 25 | 7.8% | 7.2% | ||
| Q1 25 | 8.2% | 6.7% | ||
| Q4 24 | 7.8% | 9.3% | ||
| Q3 24 | 4.1% | 7.0% | ||
| Q2 24 | 5.4% | 5.6% | ||
| Q1 24 | 6.2% | 6.4% |
现金转化率CRWDZTS
| Q4 25 | — | 1.48× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 0.68× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 6.95× | 1.39× | ||
| Q2 24 | 8.95× | 0.80× | ||
| Q1 24 | 6.46× | 0.99× |
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
CRWD
| Subscription And Circulation | $1.2B | 95% |
| Professional Services | $65.5M | 5% |
ZTS
| Other | $1.3B | 56% |
| Livestock | $234.0M | 10% |
| Pain Sedation | $209.0M | 9% |
| Other Pharmaceuticals | $188.0M | 8% |
| Swine | $125.0M | 5% |
| Poultry | $117.0M | 5% |
| Fish | $81.0M | 3% |
| Other Non Pharmaceuticals | $70.0M | 3% |
| Manufactured Product Other | $18.0M | 1% |
| Medicated Feed Additives | $12.0M | 1% |
