vs
EXTREME NETWORKS INC（EXTR）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EXTREME NETWORKS INC的1.9倍（$614.5M vs $316.9M），EXTREME NETWORKS INC净利率更高（3.3% vs -2.0%，领先5.3%），Cloudflare, Inc.同比增速更快（33.6% vs 11.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $7.8M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 11.1%）
Extreme Networks是一家总部位于美国北卡罗来纳州莫里斯维尔的网络技术企业，专注于设计、研发和生产有线及无线网络基础设施设备，同时开发用于网络管理、策略管控、数据分析、安全防护及访问控制的相关软件，为各行业客户提供高效的网络解决方案。
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。
EXTR vs NET — 直观对比
营收规模更大
NET
是对方的1.9倍
$316.9M
营收增速更快
NET
高出22.2%
11.4%
净利率更高
EXTR
高出5.3%
-2.0%
自由现金流更多
NET
多$97.4M
$7.8M
两年增速更快
NET
近两年复合增速
11.1%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.9M | $614.5M |
| 净利润 | $10.6M | $-12.1M |
| 毛利率 | 61.7% | 73.6% |
| 营业利润率 | 5.5% | -8.0% |
| 净利率 | 3.3% | -2.0% |
| 营收同比 | 11.4% | 33.6% |
| 净利润同比 | 202.9% | 6.0% |
| 每股收益（稀释后） | $0.08 | $-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EXTRNET
| Q2 26 | $316.9M | — | ||
| Q4 25 | $317.9M | $614.5M | ||
| Q3 25 | $310.2M | $562.0M | ||
| Q2 25 | $307.0M | $512.3M | ||
| Q1 25 | $284.5M | $479.1M | ||
| Q4 24 | $279.4M | $459.9M | ||
| Q3 24 | $269.2M | $430.1M | ||
| Q2 24 | $256.7M | $401.0M |
净利润EXTRNET
| Q2 26 | $10.6M | — | ||
| Q4 25 | $7.9M | $-12.1M | ||
| Q3 25 | $5.6M | $-1.3M | ||
| Q2 25 | $-7.8M | $-50.4M | ||
| Q1 25 | $3.5M | $-38.5M | ||
| Q4 24 | $7.4M | $-12.8M | ||
| Q3 24 | $-10.5M | $-15.3M | ||
| Q2 24 | $-54.2M | $-15.1M |
毛利率EXTRNET
| Q2 26 | 61.7% | — | ||
| Q4 25 | 61.4% | 73.6% | ||
| Q3 25 | 60.6% | 74.0% | ||
| Q2 25 | 61.6% | 74.9% | ||
| Q1 25 | 61.7% | 75.9% | ||
| Q4 24 | 62.7% | 76.4% | ||
| Q3 24 | 63.0% | 77.7% | ||
| Q2 24 | 44.7% | 77.8% |
营业利润率EXTRNET
| Q2 26 | 5.5% | — | ||
| Q4 25 | 4.1% | -8.0% | ||
| Q3 25 | 3.6% | -6.7% | ||
| Q2 25 | -0.4% | -13.1% | ||
| Q1 25 | 3.6% | -11.1% | ||
| Q4 24 | 4.5% | -7.5% | ||
| Q3 24 | -1.8% | -7.2% | ||
| Q2 24 | -19.1% | -8.7% |
净利率EXTRNET
| Q2 26 | 3.3% | — | ||
| Q4 25 | 2.5% | -2.0% | ||
| Q3 25 | 1.8% | -0.2% | ||
| Q2 25 | -2.5% | -9.8% | ||
| Q1 25 | 1.2% | -8.0% | ||
| Q4 24 | 2.6% | -2.8% | ||
| Q3 24 | -3.9% | -3.6% | ||
| Q2 24 | -21.1% | -3.8% |
每股收益（稀释后）EXTRNET
| Q2 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.03 | ||
| Q3 25 | $0.04 | $0.00 | ||
| Q2 25 | $-0.07 | $-0.15 | ||
| Q1 25 | $0.03 | $-0.11 | ||
| Q4 24 | $0.06 | $-0.05 | ||
| Q3 24 | $-0.08 | $-0.04 | ||
| Q2 24 | $-0.40 | $-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 | $210.1M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | $1.2B | $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EXTRNET
| Q2 26 | $210.1M | — | ||
| Q4 25 | $219.8M | $943.5M | ||
| Q3 25 | $209.0M | $1.1B | ||
| Q2 25 | $231.7M | $1.5B | ||
| Q1 25 | $185.5M | $204.5M | ||
| Q4 24 | $170.3M | $147.7M | ||
| Q3 24 | $159.5M | $182.9M | ||
| Q2 24 | $156.7M | $157.0M |
总债务EXTRNET
| Q2 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $180.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $190.0M | — |
股东权益EXTRNET
| Q2 26 | — | — | ||
| Q4 25 | $95.9M | $1.5B | ||
| Q3 25 | $68.6M | $1.3B | ||
| Q2 25 | $65.6M | $1.2B | ||
| Q1 25 | $71.7M | $1.4B | ||
| Q4 24 | $51.2M | $1.0B | ||
| Q3 24 | $32.7M | $973.1M | ||
| Q2 24 | $25.3M | $881.5M |
总资产EXTRNET
| Q2 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $6.0B | ||
| Q3 25 | $1.2B | $5.8B | ||
| Q2 25 | $1.2B | $5.6B | ||
| Q1 25 | $1.1B | $3.7B | ||
| Q4 24 | $1.1B | $3.3B | ||
| Q3 24 | $1.1B | $3.1B | ||
| Q2 24 | $1.0B | $2.9B |
负债/权益比EXTRNET
| Q2 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.74× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 7.52× | — |
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 | $50.3M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $7.8M | $105.2M |
| 自由现金流率自由现金流/营收 | 2.5% | 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 | 4.75× | — |
| 过去12个月自由现金流最近4个季度 | $105.3M | $287.5M |
8季度趋势，按日历期对齐
经营现金流EXTRNET
| Q2 26 | $50.3M | — | ||
| Q4 25 | $50.1M | $190.4M | ||
| Q3 25 | $-14.0M | $167.1M | ||
| Q2 25 | $81.9M | $99.8M | ||
| Q1 25 | $30.0M | $145.8M | ||
| Q4 24 | $21.5M | $127.3M | ||
| Q3 24 | $18.6M | $104.7M | ||
| Q2 24 | $15.5M | $74.8M |
自由现金流EXTRNET
| Q2 26 | $7.8M | — | ||
| Q4 25 | $43.0M | $105.2M | ||
| Q3 25 | $-20.9M | $82.5M | ||
| Q2 25 | $75.3M | $39.9M | ||
| Q1 25 | $24.2M | $59.9M | ||
| Q4 24 | $16.1M | $54.2M | ||
| Q3 24 | $11.7M | $54.5M | ||
| Q2 24 | $11.0M | $45.2M |
自由现金流率EXTRNET
| Q2 26 | 2.5% | — | ||
| Q4 25 | 13.5% | 17.1% | ||
| Q3 25 | -6.7% | 14.7% | ||
| Q2 25 | 24.5% | 7.8% | ||
| Q1 25 | 8.5% | 12.5% | ||
| Q4 24 | 5.8% | 11.8% | ||
| Q3 24 | 4.3% | 12.7% | ||
| Q2 24 | 4.3% | 11.3% |
资本支出强度EXTRNET
| Q2 26 | — | — | ||
| Q4 25 | 2.2% | 13.9% | ||
| Q3 25 | 2.2% | 15.1% | ||
| Q2 25 | 2.2% | 11.7% | ||
| Q1 25 | 2.0% | 17.9% | ||
| Q4 24 | 1.9% | 15.9% | ||
| Q3 24 | 2.6% | 11.7% | ||
| Q2 24 | 1.7% | 7.4% |
现金转化率EXTRNET
| Q2 26 | 4.75× | — | ||
| Q4 25 | 6.37× | — | ||
| Q3 25 | -2.49× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 8.67× | — | ||
| Q4 24 | 2.92× | — | ||
| Q3 24 | — | — | ||
| Q2 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
EXTR
| Product | $199.4M | 63% |
| Subscription and support | $117.5M | 37% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
