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ExlService Holdings, Inc.（EXLS）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ExlService Holdings, Inc.的1.1倍（$614.5M vs $542.6M），ExlService Holdings, Inc.净利率更高（11.1% vs -2.0%，领先13.1%），Cloudflare, Inc.同比增速更快（33.6% vs 12.7%），ExlService Holdings, Inc.自由现金流更多（$106.5M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 11.5%）
ExlService Holdings Inc.是全球知名的分析与数字解决方案服务商，服务覆盖保险、医疗健康、银行金融服务、媒体、零售等多个行业，总部位于纽约，在美国、欧洲、亚洲、拉美、澳大利亚、南非等地拥有超过5.4万名专业从业人员。
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。
EXLS vs NET — 直观对比
营收规模更大
NET
是对方的1.1倍
$542.6M
营收增速更快
NET
高出20.9%
12.7%
净利率更高
EXLS
高出13.1%
-2.0%
自由现金流更多
EXLS
多$1.3M
$105.2M
两年增速更快
NET
近两年复合增速
11.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $542.6M | $614.5M |
| 净利润 | $60.2M | $-12.1M |
| 毛利率 | 38.6% | 73.6% |
| 营业利润率 | 14.4% | -8.0% |
| 净利率 | 11.1% | -2.0% |
| 营收同比 | 12.7% | 33.6% |
| 净利润同比 | 18.9% | 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EXLSNET
| Q4 25 | $542.6M | $614.5M | ||
| Q3 25 | $529.6M | $562.0M | ||
| Q2 25 | $514.5M | $512.3M | ||
| Q1 25 | $501.0M | $479.1M | ||
| Q4 24 | $481.4M | $459.9M | ||
| Q3 24 | $472.1M | $430.1M | ||
| Q2 24 | $448.4M | $401.0M | ||
| Q1 24 | $436.5M | $378.6M |
净利润EXLSNET
| Q4 25 | $60.2M | $-12.1M | ||
| Q3 25 | $58.2M | $-1.3M | ||
| Q2 25 | $66.1M | $-50.4M | ||
| Q1 25 | $66.6M | $-38.5M | ||
| Q4 24 | $50.7M | $-12.8M | ||
| Q3 24 | $53.0M | $-15.3M | ||
| Q2 24 | $45.8M | $-15.1M | ||
| Q1 24 | $48.8M | $-35.5M |
毛利率EXLSNET
| Q4 25 | 38.6% | 73.6% | ||
| Q3 25 | 38.5% | 74.0% | ||
| Q2 25 | 37.7% | 74.9% | ||
| Q1 25 | 38.6% | 75.9% | ||
| Q4 24 | 38.1% | 76.4% | ||
| Q3 24 | 37.8% | 77.7% | ||
| Q2 24 | 37.1% | 77.8% | ||
| Q1 24 | 37.4% | 77.5% |
营业利润率EXLSNET
| Q4 25 | 14.4% | -8.0% | ||
| Q3 25 | 14.4% | -6.7% | ||
| Q2 25 | 15.8% | -13.1% | ||
| Q1 25 | 15.7% | -11.1% | ||
| Q4 24 | 14.8% | -7.5% | ||
| Q3 24 | 14.7% | -7.2% | ||
| Q2 24 | 13.7% | -8.7% | ||
| Q1 24 | 14.1% | -14.4% |
净利率EXLSNET
| Q4 25 | 11.1% | -2.0% | ||
| Q3 25 | 11.0% | -0.2% | ||
| Q2 25 | 12.8% | -9.8% | ||
| Q1 25 | 13.3% | -8.0% | ||
| Q4 24 | 10.5% | -2.8% | ||
| Q3 24 | 11.2% | -3.6% | ||
| Q2 24 | 10.2% | -3.8% | ||
| Q1 24 | 11.2% | -9.4% |
每股收益（稀释后）EXLSNET
| Q4 25 | $0.38 | $-0.03 | ||
| Q3 25 | $0.36 | $0.00 | ||
| Q2 25 | $0.40 | $-0.15 | ||
| Q1 25 | $0.40 | $-0.11 | ||
| Q4 24 | $0.31 | $-0.05 | ||
| Q3 24 | $0.33 | $-0.04 | ||
| Q2 24 | $0.28 | $-0.04 | ||
| Q1 24 | $0.29 | $-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 | $328.4M | $943.5M |
| 总债务越低越好 | $298.6M | — |
| 股东权益账面价值 | $912.7M | $1.5B |
| 总资产 | $1.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.33× | — |
8季度趋势，按日历期对齐
现金及短期投资EXLSNET
| Q4 25 | $328.4M | $943.5M | ||
| Q3 25 | $390.1M | $1.1B | ||
| Q2 25 | $353.3M | $1.5B | ||
| Q1 25 | $331.4M | $204.5M | ||
| Q4 24 | $340.6M | $147.7M | ||
| Q3 24 | $325.8M | $182.9M | ||
| Q2 24 | $276.1M | $157.0M | ||
| Q1 24 | $246.2M | $254.4M |
总债务EXLSNET
| Q4 25 | $298.6M | — | ||
| Q3 25 | $354.8M | — | ||
| Q2 25 | $260.0M | — | ||
| Q1 25 | $307.3M | — | ||
| Q4 24 | $288.5M | — | ||
| Q3 24 | $344.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益EXLSNET
| Q4 25 | $912.7M | $1.5B | ||
| Q3 25 | $952.4M | $1.3B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $929.9M | $1.0B | ||
| Q3 24 | $907.6M | $973.1M | ||
| Q2 24 | $852.6M | $881.5M | ||
| Q1 24 | $803.3M | $797.2M |
总资产EXLSNET
| Q4 25 | $1.7B | $6.0B | ||
| Q3 25 | $1.7B | $5.8B | ||
| Q2 25 | $1.7B | $5.6B | ||
| Q1 25 | $1.7B | $3.7B | ||
| Q4 24 | $1.6B | $3.3B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.5B | $2.9B | ||
| Q1 24 | $1.4B | $2.8B |
负债/权益比EXLSNET
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $117.4M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $106.5M | $105.2M |
| 自由现金流率自由现金流/营收 | 19.6% | 17.1% |
| 资本支出强度资本支出/营收 | 2.0% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.95× | — |
| 过去12个月自由现金流最近4个季度 | $298.1M | $287.5M |
8季度趋势，按日历期对齐
经营现金流EXLSNET
| Q4 25 | $117.4M | $190.4M | ||
| Q3 25 | $120.7M | $167.1M | ||
| Q2 25 | $109.4M | $99.8M | ||
| Q1 25 | $3.2M | $145.8M | ||
| Q4 24 | $105.3M | $127.3M | ||
| Q3 24 | $110.1M | $104.7M | ||
| Q2 24 | $74.9M | $74.8M | ||
| Q1 24 | $-21.9M | $73.6M |
自由现金流EXLSNET
| Q4 25 | $106.5M | $105.2M | ||
| Q3 25 | $106.4M | $82.5M | ||
| Q2 25 | $95.0M | $39.9M | ||
| Q1 25 | $-9.7M | $59.9M | ||
| Q4 24 | $95.3M | $54.2M | ||
| Q3 24 | $97.3M | $54.5M | ||
| Q2 24 | $62.8M | $45.2M | ||
| Q1 24 | $-33.1M | $41.5M |
自由现金流率EXLSNET
| Q4 25 | 19.6% | 17.1% | ||
| Q3 25 | 20.1% | 14.7% | ||
| Q2 25 | 18.5% | 7.8% | ||
| Q1 25 | -1.9% | 12.5% | ||
| Q4 24 | 19.8% | 11.8% | ||
| Q3 24 | 20.6% | 12.7% | ||
| Q2 24 | 14.0% | 11.3% | ||
| Q1 24 | -7.6% | 11.0% |
资本支出强度EXLSNET
| Q4 25 | 2.0% | 13.9% | ||
| Q3 25 | 2.7% | 15.1% | ||
| Q2 25 | 2.8% | 11.7% | ||
| Q1 25 | 2.6% | 17.9% | ||
| Q4 24 | 2.1% | 15.9% | ||
| Q3 24 | 2.7% | 11.7% | ||
| Q2 24 | 2.7% | 7.4% | ||
| Q1 24 | 2.6% | 8.5% |
现金转化率EXLSNET
| Q4 25 | 1.95× | — | ||
| Q3 25 | 2.08× | — | ||
| Q2 25 | 1.66× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.08× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | -0.45× | — |
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
EXLS
| Insurance | $185.8M | 34% |
| Healthcare And Life Sciences | $142.2M | 26% |
| Banking Capital Markets And Diversified Industries | $122.6M | 23% |
| International Growth Markets | $92.0M | 17% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
