vs
西蒙地产集团（ELS）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.的季度营收约是西蒙地产集团的1.5倍（$614.5M vs $397.6M），Cloudflare, Inc.同比增速更快（33.6% vs 2.7%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 2.3%）
西蒙地产集团是美国头部房地产投资信托企业，投资范围涵盖购物中心、奥特莱斯及社区生活中心等商业地产业态，是美国规模最大的购物中心持有方，总部位于印第安纳州印第安纳波利斯，截至2024年12月末共持有232处物业权益。
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。
ELS vs NET — 直观对比
营收规模更大
NET
是对方的1.5倍
$397.6M
营收增速更快
NET
高出30.9%
2.7%
两年增速更快
NET
近两年复合增速
2.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $397.6M | $614.5M |
| 净利润 | — | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | — | -8.0% |
| 净利率 | — | -2.0% |
| 营收同比 | 2.7% | 33.6% |
| 净利润同比 | — | 6.0% |
| 每股收益（稀释后） | $0.56 | $-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ELSNET
| Q1 26 | $397.6M | — | ||
| Q4 25 | $373.9M | $614.5M | ||
| Q3 25 | $393.3M | $562.0M | ||
| Q2 25 | $376.9M | $512.3M | ||
| Q1 25 | $387.3M | $479.1M | ||
| Q4 24 | $372.3M | $459.9M | ||
| Q3 24 | $387.3M | $430.1M | ||
| Q2 24 | $380.0M | $401.0M |
净利润ELSNET
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $-12.1M | ||
| Q3 25 | $100.4M | $-1.3M | ||
| Q2 25 | $83.5M | $-50.4M | ||
| Q1 25 | $114.4M | $-38.5M | ||
| Q4 24 | $100.6M | $-12.8M | ||
| Q3 24 | $86.9M | $-15.3M | ||
| Q2 24 | $82.1M | $-15.1M |
毛利率ELSNET
| Q1 26 | — | — | ||
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% |
营业利润率ELSNET
| Q1 26 | — | — | ||
| Q4 25 | 26.5% | -8.0% | ||
| Q3 25 | 25.1% | -6.7% | ||
| Q2 25 | 22.3% | -13.1% | ||
| Q1 25 | 28.3% | -11.1% | ||
| Q4 24 | 27.2% | -7.5% | ||
| Q3 24 | 21.4% | -7.2% | ||
| Q2 24 | 21.5% | -8.7% |
净利率ELSNET
| Q1 26 | — | — | ||
| Q4 25 | 27.8% | -2.0% | ||
| Q3 25 | 25.5% | -0.2% | ||
| Q2 25 | 22.2% | -9.8% | ||
| Q1 25 | 29.5% | -8.0% | ||
| Q4 24 | 27.0% | -2.8% | ||
| Q3 24 | 22.4% | -3.6% | ||
| Q2 24 | 21.6% | -3.8% |
每股收益（稀释后）ELSNET
| Q1 26 | $0.56 | — | ||
| Q4 25 | $0.52 | $-0.03 | ||
| Q3 25 | $0.50 | $0.00 | ||
| Q2 25 | $0.42 | $-0.15 | ||
| Q1 25 | $0.57 | $-0.11 | ||
| Q4 24 | $0.51 | $-0.05 | ||
| Q3 24 | $0.44 | $-0.04 | ||
| Q2 24 | $0.42 | $-0.04 |
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 | — | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.8B | $1.5B |
| 总资产 | $5.7M | $6.0B |
| 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ELSNET
| Q1 26 | — | — | ||
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M |
总债务ELSNET
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ELSNET
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.8B | $1.3B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.7B | $1.0B | ||
| Q3 24 | $1.4B | $973.1M | ||
| Q2 24 | $1.4B | $881.5M |
总资产ELSNET
| Q1 26 | $5.7M | — | ||
| Q4 25 | $5.7B | $6.0B | ||
| Q3 25 | $5.7B | $5.8B | ||
| Q2 25 | $5.7B | $5.6B | ||
| Q1 25 | $5.6B | $3.7B | ||
| Q4 24 | $5.6B | $3.3B | ||
| Q3 24 | $5.6B | $3.1B | ||
| Q2 24 | $5.6B | $2.9B |
负债/权益比ELSNET
| Q1 26 | — | — | ||
| Q4 25 | 1.91× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $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ELSNET
| Q1 26 | — | — | ||
| Q4 25 | $571.1M | $190.4M | ||
| Q3 25 | $147.0M | $167.1M | ||
| Q2 25 | $131.3M | $99.8M | ||
| Q1 25 | $193.4M | $145.8M | ||
| Q4 24 | $596.7M | $127.3M | ||
| Q3 24 | $149.5M | $104.7M | ||
| Q2 24 | $143.1M | $74.8M |
自由现金流ELSNET
| Q1 26 | — | — | ||
| Q4 25 | $334.1M | $105.2M | ||
| Q3 25 | $75.7M | $82.5M | ||
| Q2 25 | $71.8M | $39.9M | ||
| Q1 25 | $148.2M | $59.9M | ||
| Q4 24 | $355.4M | $54.2M | ||
| Q3 24 | $91.1M | $54.5M | ||
| Q2 24 | $80.6M | $45.2M |
自由现金流率ELSNET
| Q1 26 | — | — | ||
| Q4 25 | 89.4% | 17.1% | ||
| Q3 25 | 19.3% | 14.7% | ||
| Q2 25 | 19.1% | 7.8% | ||
| Q1 25 | 38.3% | 12.5% | ||
| Q4 24 | 95.5% | 11.8% | ||
| Q3 24 | 23.5% | 12.7% | ||
| Q2 24 | 21.2% | 11.3% |
资本支出强度ELSNET
| Q1 26 | — | — | ||
| Q4 25 | 63.4% | 13.9% | ||
| Q3 25 | 18.1% | 15.1% | ||
| Q2 25 | 15.8% | 11.7% | ||
| Q1 25 | 11.7% | 17.9% | ||
| Q4 24 | 64.8% | 15.9% | ||
| Q3 24 | 15.1% | 11.7% | ||
| Q2 24 | 16.5% | 7.4% |
现金转化率ELSNET
| Q1 26 | — | — | ||
| Q4 25 | 5.50× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.69× | — | ||
| Q4 24 | 5.93× | — | ||
| Q3 24 | 1.72× | — | ||
| Q2 24 | 1.74× | — |
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
ELS
| Rental income | $339.0M | 85% |
| Other | $37.2M | 9% |
| Annual membership subscriptions | $18.3M | 5% |
| Membership upgrade revenue | $3.1M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
