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Clearway Energy, Inc.（CWEN）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Clearway Energy, Inc.的2.0倍（$614.5M vs $310.0M），Cloudflare, Inc.净利率更高（-2.0% vs -33.5%，领先31.6%），Cloudflare, Inc.同比增速更快（33.6% vs 21.1%），Cloudflare, Inc.自由现金流更多（$105.2M vs $71.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 8.6%）
NRG能源是总部位于美国得克萨斯州休斯敦的能源企业，前身为后续更名为埃克西尔能源的北方州电力公司的批发业务板块，2000年独立运营。业务覆盖发电与电力零售，拥有天然气、煤炭、石油、核能、风电、公用事业级及分布式太阳能等发电资产，服务超700万零售用户。
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。
CWEN vs NET — 直观对比
营收规模更大
NET
是对方的2.0倍
$310.0M
营收增速更快
NET
高出12.5%
21.1%
净利率更高
NET
高出31.6%
-33.5%
自由现金流更多
NET
多$34.2M
$71.0M
两年增速更快
NET
近两年复合增速
8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $310.0M | $614.5M |
| 净利润 | $-104.0M | $-12.1M |
| 毛利率 | 51.9% | 73.6% |
| 营业利润率 | -11.9% | -8.0% |
| 净利率 | -33.5% | -2.0% |
| 营收同比 | 21.1% | 33.6% |
| 净利润同比 | -3566.7% | 6.0% |
| 每股收益（稀释后） | — | $-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CWENNET
| Q4 25 | $310.0M | $614.5M | ||
| Q3 25 | $429.0M | $562.0M | ||
| Q2 25 | $392.0M | $512.3M | ||
| Q1 25 | $298.0M | $479.1M | ||
| Q4 24 | $256.0M | $459.9M | ||
| Q3 24 | $486.0M | $430.1M | ||
| Q2 24 | $366.0M | $401.0M | ||
| Q1 24 | $263.0M | $378.6M |
净利润CWENNET
| Q4 25 | $-104.0M | $-12.1M | ||
| Q3 25 | $236.0M | $-1.3M | ||
| Q2 25 | $33.0M | $-50.4M | ||
| Q1 25 | $4.0M | $-38.5M | ||
| Q4 24 | $3.0M | $-12.8M | ||
| Q3 24 | $36.0M | $-15.3M | ||
| Q2 24 | $51.0M | $-15.1M | ||
| Q1 24 | $-2.0M | $-35.5M |
毛利率CWENNET
| Q4 25 | 51.9% | 73.6% | ||
| Q3 25 | 70.2% | 74.0% | ||
| Q2 25 | 66.6% | 74.9% | ||
| Q1 25 | 59.1% | 75.9% | ||
| Q4 24 | 52.0% | 76.4% | ||
| Q3 24 | 72.2% | 77.7% | ||
| Q2 24 | 68.0% | 77.8% | ||
| Q1 24 | 52.1% | 77.5% |
营业利润率CWENNET
| Q4 25 | -11.9% | -8.0% | ||
| Q3 25 | 26.1% | -6.7% | ||
| Q2 25 | 21.7% | -13.1% | ||
| Q1 25 | — | -11.1% | ||
| Q4 24 | -14.5% | -7.5% | ||
| Q3 24 | 36.6% | -7.2% | ||
| Q2 24 | 23.0% | -8.7% | ||
| Q1 24 | -11.0% | -14.4% |
净利率CWENNET
| Q4 25 | -33.5% | -2.0% | ||
| Q3 25 | 55.0% | -0.2% | ||
| Q2 25 | 8.4% | -9.8% | ||
| Q1 25 | 1.3% | -8.0% | ||
| Q4 24 | 1.2% | -2.8% | ||
| Q3 24 | 7.4% | -3.6% | ||
| Q2 24 | 13.9% | -3.8% | ||
| Q1 24 | -0.8% | -9.4% |
每股收益（稀释后）CWENNET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-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 | $231.0M | $943.5M |
| 总债务越低越好 | $7.9B | — |
| 股东权益账面价值 | $5.8B | $1.5B |
| 总资产 | $16.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资CWENNET
| Q4 25 | $231.0M | $943.5M | ||
| Q3 25 | $251.0M | $1.1B | ||
| Q2 25 | $260.0M | $1.5B | ||
| Q1 25 | $297.0M | $204.5M | ||
| Q4 24 | $332.0M | $147.7M | ||
| Q3 24 | $292.0M | $182.9M | ||
| Q2 24 | $226.0M | $157.0M | ||
| Q1 24 | $478.0M | $254.4M |
总债务CWENNET
| Q4 25 | $7.9B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $8.3B | — | ||
| Q1 25 | $7.2B | — | ||
| Q4 24 | $6.8B | — | ||
| Q3 24 | $6.7B | — | ||
| Q2 24 | $6.8B | — | ||
| Q1 24 | $7.6B | — |
股东权益CWENNET
| Q4 25 | $5.8B | $1.5B | ||
| Q3 25 | $5.7B | $1.3B | ||
| Q2 25 | $5.5B | $1.2B | ||
| Q1 25 | $5.4B | $1.4B | ||
| Q4 24 | $5.6B | $1.0B | ||
| Q3 24 | $5.6B | $973.1M | ||
| Q2 24 | $5.7B | $881.5M | ||
| Q1 24 | $5.0B | $797.2M |
总资产CWENNET
| Q4 25 | $16.7B | $6.0B | ||
| Q3 25 | $16.1B | $5.8B | ||
| Q2 25 | $16.0B | $5.6B | ||
| Q1 25 | $14.6B | $3.7B | ||
| Q4 24 | $14.3B | $3.3B | ||
| Q3 24 | $14.2B | $3.1B | ||
| Q2 24 | $14.5B | $2.9B | ||
| Q1 24 | $14.9B | $2.8B |
负债/权益比CWENNET
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.41× | — | ||
| Q2 25 | 1.49× | — | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | 1.50× | — |
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 | $177.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $71.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 22.9% | 17.1% |
| 资本支出强度资本支出/营收 | 34.2% | 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 | $369.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流CWENNET
| Q4 25 | $177.0M | $190.4M | ||
| Q3 25 | $225.0M | $167.1M | ||
| Q2 25 | $191.0M | $99.8M | ||
| Q1 25 | $95.0M | $145.8M | ||
| Q4 24 | $192.0M | $127.3M | ||
| Q3 24 | $301.0M | $104.7M | ||
| Q2 24 | $196.0M | $74.8M | ||
| Q1 24 | $81.0M | $73.6M |
自由现金流CWENNET
| Q4 25 | $71.0M | $105.2M | ||
| Q3 25 | $144.0M | $82.5M | ||
| Q2 25 | $115.0M | $39.9M | ||
| Q1 25 | $39.0M | $59.9M | ||
| Q4 24 | $142.0M | $54.2M | ||
| Q3 24 | $266.0M | $54.5M | ||
| Q2 24 | $92.0M | $45.2M | ||
| Q1 24 | $-17.0M | $41.5M |
自由现金流率CWENNET
| Q4 25 | 22.9% | 17.1% | ||
| Q3 25 | 33.6% | 14.7% | ||
| Q2 25 | 29.3% | 7.8% | ||
| Q1 25 | 13.1% | 12.5% | ||
| Q4 24 | 55.5% | 11.8% | ||
| Q3 24 | 54.7% | 12.7% | ||
| Q2 24 | 25.1% | 11.3% | ||
| Q1 24 | -6.5% | 11.0% |
资本支出强度CWENNET
| Q4 25 | 34.2% | 13.9% | ||
| Q3 25 | 18.9% | 15.1% | ||
| Q2 25 | 19.4% | 11.7% | ||
| Q1 25 | 18.8% | 17.9% | ||
| Q4 24 | 19.5% | 15.9% | ||
| Q3 24 | 7.2% | 11.7% | ||
| Q2 24 | 28.4% | 7.4% | ||
| Q1 24 | 37.3% | 8.5% |
现金转化率CWENNET
| Q4 25 | — | — | ||
| Q3 25 | 0.95× | — | ||
| Q2 25 | 5.79× | — | ||
| Q1 25 | 23.75× | — | ||
| Q4 24 | 64.00× | — | ||
| Q3 24 | 8.36× | — | ||
| Q2 24 | 3.84× | — | ||
| Q1 24 | — | — |
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
CWEN
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
