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Designer Brands Inc.（DBI）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Designer Brands Inc.的季度营收约是Cloudflare, Inc.的1.2倍（$752.4M vs $614.5M），Designer Brands Inc.净利率更高（2.4% vs -2.0%，领先4.4%），Cloudflare, Inc.同比增速更快（33.6% vs -3.2%），Cloudflare, Inc.自由现金流更多（$105.2M vs $57.5M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -0.1%）
Designer Brands Inc.是一家美国鞋履及时尚配饰零售商，主打销售设计师品牌与知名品牌商品，旗下拥有知名连锁零售品牌DSW（设计师鞋履仓库），目前在美国经营超过500家线下门店，同时运营线上电商平台。
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。
DBI vs NET — 直观对比
营收规模更大
DBI
是对方的1.2倍
$614.5M
营收增速更快
NET
高出36.8%
-3.2%
净利率更高
DBI
高出4.4%
-2.0%
自由现金流更多
NET
多$47.7M
$57.5M
两年增速更快
NET
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $752.4M | $614.5M |
| 净利润 | $18.2M | $-12.1M |
| 毛利率 | 45.1% | 73.6% |
| 营业利润率 | 5.7% | -8.0% |
| 净利率 | 2.4% | -2.0% |
| 营收同比 | -3.2% | 33.6% |
| 净利润同比 | 40.0% | 6.0% |
| 每股收益（稀释后） | $0.35 | $-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DBINET
| Q4 25 | $752.4M | $614.5M | ||
| Q3 25 | $739.8M | $562.0M | ||
| Q2 25 | $686.9M | $512.3M | ||
| Q1 25 | $713.6M | $479.1M | ||
| Q4 24 | $777.2M | $459.9M | ||
| Q3 24 | $771.9M | $430.1M | ||
| Q2 24 | $746.6M | $401.0M | ||
| Q1 24 | $754.3M | $378.6M |
净利润DBINET
| Q4 25 | $18.2M | $-12.1M | ||
| Q3 25 | $10.8M | $-1.3M | ||
| Q2 25 | $-17.4M | $-50.4M | ||
| Q1 25 | $-38.2M | $-38.5M | ||
| Q4 24 | $13.0M | $-12.8M | ||
| Q3 24 | $13.8M | $-15.3M | ||
| Q2 24 | $783.0K | $-15.1M | ||
| Q1 24 | $-29.6M | $-35.5M |
毛利率DBINET
| Q4 25 | 45.1% | 73.6% | ||
| Q3 25 | 43.7% | 74.0% | ||
| Q2 25 | 43.0% | 74.9% | ||
| Q1 25 | 75.7% | 75.9% | ||
| Q4 24 | 43.0% | 76.4% | ||
| Q3 24 | 44.0% | 77.7% | ||
| Q2 24 | 44.2% | 77.8% | ||
| Q1 24 | 38.8% | 77.5% |
营业利润率DBINET
| Q4 25 | 5.7% | -8.0% | ||
| Q3 25 | 3.6% | -6.7% | ||
| Q2 25 | -1.1% | -13.1% | ||
| Q1 25 | -3.6% | -11.1% | ||
| Q4 24 | 2.9% | -7.5% | ||
| Q3 24 | 3.7% | -7.2% | ||
| Q2 24 | 1.3% | -8.7% | ||
| Q1 24 | -4.8% | -14.4% |
净利率DBINET
| Q4 25 | 2.4% | -2.0% | ||
| Q3 25 | 1.5% | -0.2% | ||
| Q2 25 | -2.5% | -9.8% | ||
| Q1 25 | -5.3% | -8.0% | ||
| Q4 24 | 1.7% | -2.8% | ||
| Q3 24 | 1.8% | -3.6% | ||
| Q2 24 | 0.1% | -3.8% | ||
| Q1 24 | -3.9% | -9.4% |
每股收益（稀释后）DBINET
| Q4 25 | $0.35 | $-0.03 | ||
| Q3 25 | $0.22 | $0.00 | ||
| Q2 25 | $-0.36 | $-0.15 | ||
| Q1 25 | $-0.69 | $-0.11 | ||
| Q4 24 | $0.24 | $-0.05 | ||
| Q3 24 | $0.24 | $-0.04 | ||
| Q2 24 | $0.01 | $-0.04 | ||
| Q1 24 | $-899.54 | $-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 | $51.4M | $943.5M |
| 总债务越低越好 | $463.1M | — |
| 股东权益账面价值 | $298.6M | $1.5B |
| 总资产 | $2.1B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.55× | — |
8季度趋势，按日历期对齐
现金及短期投资DBINET
| Q4 25 | $51.4M | $943.5M | ||
| Q3 25 | $44.9M | $1.1B | ||
| Q2 25 | $46.0M | $1.5B | ||
| Q1 25 | $44.8M | $204.5M | ||
| Q4 24 | $36.2M | $147.7M | ||
| Q3 24 | $38.8M | $182.9M | ||
| Q2 24 | $43.4M | $157.0M | ||
| Q1 24 | $49.2M | $254.4M |
总债务DBINET
| Q4 25 | $463.1M | — | ||
| Q3 25 | $509.6M | — | ||
| Q2 25 | $516.2M | — | ||
| Q1 25 | $484.3M | — | ||
| Q4 24 | $529.6M | — | ||
| Q3 24 | $459.0M | — | ||
| Q2 24 | $469.3M | — | ||
| Q1 24 | $420.3M | — |
股东权益DBINET
| Q4 25 | $298.6M | $1.5B | ||
| Q3 25 | $280.8M | $1.3B | ||
| Q2 25 | $266.9M | $1.2B | ||
| Q1 25 | $278.5M | $1.4B | ||
| Q4 24 | $318.5M | $1.0B | ||
| Q3 24 | $355.5M | $973.1M | ||
| Q2 24 | $358.5M | $881.5M | ||
| Q1 24 | $359.2M | $797.2M |
总资产DBINET
| Q4 25 | $2.1B | $6.0B | ||
| Q3 25 | $2.1B | $5.8B | ||
| Q2 25 | $2.1B | $5.6B | ||
| Q1 25 | $2.0B | $3.7B | ||
| Q4 24 | $2.1B | $3.3B | ||
| Q3 24 | $2.1B | $3.1B | ||
| Q2 24 | $2.2B | $2.9B | ||
| Q1 24 | $2.1B | $2.8B |
负债/权益比DBINET
| Q4 25 | 1.55× | — | ||
| Q3 25 | 1.81× | — | ||
| Q2 25 | 1.93× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 1.66× | — | ||
| Q3 24 | 1.29× | — | ||
| Q2 24 | 1.31× | — | ||
| Q1 24 | 1.17× | — |
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 | $66.5M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $57.5M | $105.2M |
| 自由现金流率自由现金流/营收 | 7.6% | 17.1% |
| 资本支出强度资本支出/营收 | 1.2% | 13.9% |
| 现金转化率经营现金流/净利润 | 3.65× | — |
| 过去12个月自由现金流最近4个季度 | $99.9M | $287.5M |
8季度趋势，按日历期对齐
经营现金流DBINET
| Q4 25 | $66.5M | $190.4M | ||
| Q3 25 | $21.4M | $167.1M | ||
| Q2 25 | $-20.4M | $99.8M | ||
| Q1 25 | $70.1M | $145.8M | ||
| Q4 24 | $-9.8M | $127.3M | ||
| Q3 24 | $41.6M | $104.7M | ||
| Q2 24 | $-19.7M | $74.8M | ||
| Q1 24 | $-40.1M | $73.6M |
自由现金流DBINET
| Q4 25 | $57.5M | $105.2M | ||
| Q3 25 | $11.9M | $82.5M | ||
| Q2 25 | $-27.6M | $39.9M | ||
| Q1 25 | $58.1M | $59.9M | ||
| Q4 24 | $-19.2M | $54.2M | ||
| Q3 24 | $28.0M | $54.5M | ||
| Q2 24 | $-35.6M | $45.2M | ||
| Q1 24 | $-52.8M | $41.5M |
自由现金流率DBINET
| Q4 25 | 7.6% | 17.1% | ||
| Q3 25 | 1.6% | 14.7% | ||
| Q2 25 | -4.0% | 7.8% | ||
| Q1 25 | 8.1% | 12.5% | ||
| Q4 24 | -2.5% | 11.8% | ||
| Q3 24 | 3.6% | 12.7% | ||
| Q2 24 | -4.8% | 11.3% | ||
| Q1 24 | -7.0% | 11.0% |
资本支出强度DBINET
| Q4 25 | 1.2% | 13.9% | ||
| Q3 25 | 1.3% | 15.1% | ||
| Q2 25 | 1.1% | 11.7% | ||
| Q1 25 | 1.7% | 17.9% | ||
| Q4 24 | 1.2% | 15.9% | ||
| Q3 24 | 1.8% | 11.7% | ||
| Q2 24 | 2.1% | 7.4% | ||
| Q1 24 | 1.7% | 8.5% |
现金转化率DBINET
| Q4 25 | 3.65× | — | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.75× | — | ||
| Q3 24 | 3.01× | — | ||
| Q2 24 | -25.13× | — | ||
| 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
DBI
| Womens | $280.7M | 37% |
| Athletic Footwear | $188.6M | 25% |
| Wholesale | $89.8M | 12% |
| Canada Retail Segment | $77.3M | 10% |
| Mens | $76.1M | 10% |
| Kids | $24.2M | 3% |
| Commission Income | $10.8M | 1% |
| Directto Consumer | $1.3M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
