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Dayforce（DAY）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Dayforce的1.3倍（$614.5M vs $481.6M），Cloudflare, Inc.净利率更高（-2.0% vs -40.9%，领先38.9%），Cloudflare, Inc.同比增速更快（33.6% vs 9.5%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 9.8%）
Dayforce前身为知名人力资源服务商Ceridian，是一家总部位于美国的人力资源软件及服务企业，面向各行业不同规模的客户提供覆盖薪酬核算、人员管理、考勤等多场景的HR SaaS产品及配套专业服务，助力企业提升人力资源运营效率。
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。
DAY vs NET — 直观对比
营收规模更大
NET
是对方的1.3倍
$481.6M
营收增速更快
NET
高出24.1%
9.5%
净利率更高
NET
高出38.9%
-40.9%
两年增速更快
NET
近两年复合增速
9.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $481.6M | $614.5M |
| 净利润 | $-196.8M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 6.3% | -8.0% |
| 净利率 | -40.9% | -2.0% |
| 营收同比 | 9.5% | 33.6% |
| 净利润同比 | -9940.0% | 6.0% |
| 每股收益（稀释后） | $-1.23 | $-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DAYNET
| Q4 25 | — | $614.5M | ||
| Q3 25 | $481.6M | $562.0M | ||
| Q2 25 | $464.7M | $512.3M | ||
| Q1 25 | $481.8M | $479.1M | ||
| Q4 24 | $465.2M | $459.9M | ||
| Q3 24 | $440.0M | $430.1M | ||
| Q2 24 | $423.3M | $401.0M | ||
| Q1 24 | $431.5M | $378.6M |
净利润DAYNET
| Q4 25 | — | $-12.1M | ||
| Q3 25 | $-196.8M | $-1.3M | ||
| Q2 25 | $21.3M | $-50.4M | ||
| Q1 25 | $14.9M | $-38.5M | ||
| Q4 24 | $10.8M | $-12.8M | ||
| Q3 24 | $2.0M | $-15.3M | ||
| Q2 24 | $-1.8M | $-15.1M | ||
| Q1 24 | $7.1M | $-35.5M |
毛利率DAYNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | 47.0% | 76.4% | ||
| Q3 24 | 45.8% | 77.7% | ||
| Q2 24 | 44.1% | 77.8% | ||
| Q1 24 | 47.6% | 77.5% |
营业利润率DAYNET
| Q4 25 | — | -8.0% | ||
| Q3 25 | 6.3% | -6.7% | ||
| Q2 25 | 9.1% | -13.1% | ||
| Q1 25 | 6.4% | -11.1% | ||
| Q4 24 | 6.1% | -7.5% | ||
| Q3 24 | 4.7% | -7.2% | ||
| Q2 24 | 3.3% | -8.7% | ||
| Q1 24 | 9.4% | -14.4% |
净利率DAYNET
| Q4 25 | — | -2.0% | ||
| Q3 25 | -40.9% | -0.2% | ||
| Q2 25 | 4.6% | -9.8% | ||
| Q1 25 | 3.1% | -8.0% | ||
| Q4 24 | 2.3% | -2.8% | ||
| Q3 24 | 0.5% | -3.6% | ||
| Q2 24 | -0.4% | -3.8% | ||
| Q1 24 | 1.6% | -9.4% |
每股收益（稀释后）DAYNET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | $-1.23 | $0.00 | ||
| Q2 25 | $0.13 | $-0.15 | ||
| Q1 25 | $0.09 | $-0.11 | ||
| Q4 24 | $0.07 | $-0.05 | ||
| Q3 24 | $0.01 | $-0.04 | ||
| Q2 24 | $-0.01 | $-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 | $627.6M | $943.5M |
| 总债务越低越好 | $631.1M | — |
| 股东权益账面价值 | $2.7B | $1.5B |
| 总资产 | $8.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.23× | — |
8季度趋势，按日历期对齐
现金及短期投资DAYNET
| Q4 25 | — | $943.5M | ||
| Q3 25 | $627.6M | $1.1B | ||
| Q2 25 | $625.2M | $1.5B | ||
| Q1 25 | $557.3M | $204.5M | ||
| Q4 24 | $579.7M | $147.7M | ||
| Q3 24 | $494.1M | $182.9M | ||
| Q2 24 | $465.4M | $157.0M | ||
| Q1 24 | $392.5M | $254.4M |
总债务DAYNET
| Q4 25 | — | — | ||
| Q3 25 | $631.1M | — | ||
| Q2 25 | $631.8M | — | ||
| Q1 25 | $632.4M | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
股东权益DAYNET
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.7B | $1.3B | ||
| Q2 25 | $2.7B | $1.2B | ||
| Q1 25 | $2.6B | $1.4B | ||
| Q4 24 | $2.5B | $1.0B | ||
| Q3 24 | $2.6B | $973.1M | ||
| Q2 24 | $2.5B | $881.5M | ||
| Q1 24 | $2.4B | $797.2M |
总资产DAYNET
| Q4 25 | — | $6.0B | ||
| Q3 25 | $8.7B | $5.8B | ||
| Q2 25 | $8.5B | $5.6B | ||
| Q1 25 | $9.5B | $3.7B | ||
| Q4 24 | $9.1B | $3.3B | ||
| Q3 24 | $8.1B | $3.1B | ||
| Q2 24 | $9.0B | $2.9B | ||
| Q1 24 | $10.8B | $2.8B |
负债/权益比DAYNET
| Q4 25 | — | — | ||
| Q3 25 | 0.23× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.47× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.49× | — | ||
| Q1 24 | 0.50× | — |
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 | $31.2M | $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 | — | — |
| 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DAYNET
| Q4 25 | — | $190.4M | ||
| Q3 25 | $31.2M | $167.1M | ||
| Q2 25 | $112.7M | $99.8M | ||
| Q1 25 | $49.6M | $145.8M | ||
| Q4 24 | $81.0M | $127.3M | ||
| Q3 24 | $91.8M | $104.7M | ||
| Q2 24 | $99.2M | $74.8M | ||
| Q1 24 | $9.1M | $73.6M |
自由现金流DAYNET
| 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DAYNET
| 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DAYNET
| 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DAYNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 7.50× | — | ||
| Q3 24 | 45.90× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.28× | — |
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
DAY
| Dayforce Recurring | $333.0M | 69% |
| Cloud And Bureau Professional Services And Other | $78.5M | 16% |
| Float | $42.2M | 9% |
| Powerpay Recurring | $19.7M | 4% |
| Other Recurring | $8.2M | 2% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
