vs
Leonardo DRS, Inc.（DRS）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Leonardo DRS, Inc.的季度营收约是Cloudflare, Inc.的1.7倍（$1.1B vs $614.5M），Leonardo DRS, Inc.净利率更高（9.6% vs -2.0%，领先11.6%），Cloudflare, Inc.同比增速更快（33.6% vs 8.1%），Leonardo DRS, Inc.自由现金流更多（$376.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 24.1%）
莱昂纳多DRS公司是美国本土国防承包商，前身为DRS技术公司，曾于纽约证券交易所挂牌交易，2008年被莱昂纳多的前身芬梅卡尼卡收购，核心业务为向美国军方提供先进国防技术及配套系统产品。
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。
DRS vs NET — 直观对比
营收规模更大
DRS
是对方的1.7倍
$614.5M
营收增速更快
NET
高出25.6%
8.1%
净利率更高
DRS
高出11.6%
-2.0%
自由现金流更多
DRS
多$270.8M
$105.2M
两年增速更快
NET
近两年复合增速
24.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $614.5M |
| 净利润 | $102.0M | $-12.1M |
| 毛利率 | 25.4% | 73.6% |
| 营业利润率 | 11.9% | -8.0% |
| 净利率 | 9.6% | -2.0% |
| 营收同比 | 8.1% | 33.6% |
| 净利润同比 | 14.6% | 6.0% |
| 每股收益（稀释后） | $0.38 | $-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DRSNET
| Q4 25 | $1.1B | $614.5M | ||
| Q3 25 | $960.0M | $562.0M | ||
| Q2 25 | $829.0M | $512.3M | ||
| Q1 25 | $799.0M | $479.1M | ||
| Q4 24 | $981.0M | $459.9M | ||
| Q3 24 | $812.0M | $430.1M | ||
| Q2 24 | $753.0M | $401.0M | ||
| Q1 24 | $688.0M | $378.6M |
净利润DRSNET
| Q4 25 | $102.0M | $-12.1M | ||
| Q3 25 | $72.0M | $-1.3M | ||
| Q2 25 | $54.0M | $-50.4M | ||
| Q1 25 | $50.0M | $-38.5M | ||
| Q4 24 | $89.0M | $-12.8M | ||
| Q3 24 | $57.0M | $-15.3M | ||
| Q2 24 | $38.0M | $-15.1M | ||
| Q1 24 | $29.0M | $-35.5M |
毛利率DRSNET
| Q4 25 | 25.4% | 73.6% | ||
| Q3 25 | 23.1% | 74.0% | ||
| Q2 25 | 23.8% | 74.9% | ||
| Q1 25 | 22.7% | 75.9% | ||
| Q4 24 | 24.0% | 76.4% | ||
| Q3 24 | 22.0% | 77.7% | ||
| Q2 24 | 22.4% | 77.8% | ||
| Q1 24 | 22.2% | 77.5% |
营业利润率DRSNET
| Q4 25 | 11.9% | -8.0% | ||
| Q3 25 | 9.7% | -6.7% | ||
| Q2 25 | 8.4% | -13.1% | ||
| Q1 25 | 7.4% | -11.1% | ||
| Q4 24 | 12.2% | -7.5% | ||
| Q3 24 | 9.2% | -7.2% | ||
| Q2 24 | 7.3% | -8.7% | ||
| Q1 24 | 6.3% | -14.4% |
净利率DRSNET
| Q4 25 | 9.6% | -2.0% | ||
| Q3 25 | 7.5% | -0.2% | ||
| Q2 25 | 6.5% | -9.8% | ||
| Q1 25 | 6.3% | -8.0% | ||
| Q4 24 | 9.1% | -2.8% | ||
| Q3 24 | 7.0% | -3.6% | ||
| Q2 24 | 5.0% | -3.8% | ||
| Q1 24 | 4.2% | -9.4% |
每股收益（稀释后）DRSNET
| Q4 25 | $0.38 | $-0.03 | ||
| Q3 25 | $0.26 | $0.00 | ||
| Q2 25 | $0.20 | $-0.15 | ||
| Q1 25 | $0.19 | $-0.11 | ||
| Q4 24 | $0.34 | $-0.05 | ||
| Q3 24 | $0.21 | $-0.04 | ||
| Q2 24 | $0.14 | $-0.04 | ||
| Q1 24 | $0.11 | $-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 | $647.0M | $943.5M |
| 总债务越低越好 | $321.0M | — |
| 股东权益账面价值 | $2.7B | $1.5B |
| 总资产 | $4.5B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.12× | — |
8季度趋势，按日历期对齐
现金及短期投资DRSNET
| Q4 25 | $647.0M | $943.5M | ||
| Q3 25 | $309.0M | $1.1B | ||
| Q2 25 | $278.0M | $1.5B | ||
| Q1 25 | $380.0M | $204.5M | ||
| Q4 24 | $598.0M | $147.7M | ||
| Q3 24 | $198.0M | $182.9M | ||
| Q2 24 | $149.0M | $157.0M | ||
| Q1 24 | $160.0M | $254.4M |
总债务DRSNET
| Q4 25 | $321.0M | — | ||
| Q3 25 | $326.0M | — | ||
| Q2 25 | $331.0M | — | ||
| Q1 25 | $335.0M | — | ||
| Q4 24 | $340.0M | — | ||
| Q3 24 | $345.0M | — | ||
| Q2 24 | $351.0M | — | ||
| Q1 24 | $356.0M | — |
股东权益DRSNET
| Q4 25 | $2.7B | $1.5B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.6B | $1.2B | ||
| Q1 25 | $2.6B | $1.4B | ||
| Q4 24 | $2.6B | $1.0B | ||
| Q3 24 | $2.5B | $973.1M | ||
| Q2 24 | $2.4B | $881.5M | ||
| Q1 24 | $2.4B | $797.2M |
总资产DRSNET
| Q4 25 | $4.5B | $6.0B | ||
| Q3 25 | $4.2B | $5.8B | ||
| Q2 25 | $4.1B | $5.6B | ||
| Q1 25 | $4.1B | $3.7B | ||
| Q4 24 | $4.2B | $3.3B | ||
| Q3 24 | $3.9B | $3.1B | ||
| Q2 24 | $3.8B | $2.9B | ||
| Q1 24 | $3.8B | $2.8B |
负债/权益比DRSNET
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 0.15× | — |
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 | $425.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $376.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 35.5% | 17.1% |
| 资本支出强度资本支出/营收 | 4.6% | 13.9% |
| 现金转化率经营现金流/净利润 | 4.17× | — |
| 过去12个月自由现金流最近4个季度 | $227.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流DRSNET
| Q4 25 | $425.0M | $190.4M | ||
| Q3 25 | $107.0M | $167.1M | ||
| Q2 25 | $-28.0M | $99.8M | ||
| Q1 25 | $-138.0M | $145.8M | ||
| Q4 24 | $443.0M | $127.3M | ||
| Q3 24 | $59.0M | $104.7M | ||
| Q2 24 | $34.0M | $74.8M | ||
| Q1 24 | $-265.0M | $73.6M |
自由现金流DRSNET
| Q4 25 | $376.0M | $105.2M | ||
| Q3 25 | $77.0M | $82.5M | ||
| Q2 25 | $-56.0M | $39.9M | ||
| Q1 25 | $-170.0M | $59.9M | ||
| Q4 24 | $414.0M | $54.2M | ||
| Q3 24 | $47.0M | $54.5M | ||
| Q2 24 | $0 | $45.2M | ||
| Q1 24 | $-275.0M | $41.5M |
自由现金流率DRSNET
| Q4 25 | 35.5% | 17.1% | ||
| Q3 25 | 8.0% | 14.7% | ||
| Q2 25 | -6.8% | 7.8% | ||
| Q1 25 | -21.3% | 12.5% | ||
| Q4 24 | 42.2% | 11.8% | ||
| Q3 24 | 5.8% | 12.7% | ||
| Q2 24 | 0.0% | 11.3% | ||
| Q1 24 | -40.0% | 11.0% |
资本支出强度DRSNET
| Q4 25 | 4.6% | 13.9% | ||
| Q3 25 | 3.1% | 15.1% | ||
| Q2 25 | 3.4% | 11.7% | ||
| Q1 25 | 4.0% | 17.9% | ||
| Q4 24 | 3.0% | 15.9% | ||
| Q3 24 | 1.5% | 11.7% | ||
| Q2 24 | 4.5% | 7.4% | ||
| Q1 24 | 1.5% | 8.5% |
现金转化率DRSNET
| Q4 25 | 4.17× | — | ||
| Q3 25 | 1.49× | — | ||
| Q2 25 | -0.52× | — | ||
| Q1 25 | -2.76× | — | ||
| Q4 24 | 4.98× | — | ||
| Q3 24 | 1.04× | — | ||
| Q2 24 | 0.89× | — | ||
| Q1 24 | -9.14× | — |
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
DRS
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
