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FactSet（FDS）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FactSet的1.0倍（$614.5M vs $607.6M），FactSet净利率更高（25.1% vs -2.0%，领先27.1%），Cloudflare, Inc.同比增速更快（33.6% vs 6.9%），Cloudflare, Inc.自由现金流更多（$105.2M vs $90.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 5.5%）
FactSet是总部位于美国康涅狄格州诺沃克的金融数据与软件企业，为客户提供一体化数据及软件解决方案。2024财年，公司年度订阅价值与专业服务营收合计22亿美元，当前总市值约170亿美元。
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。
FDS vs NET — 直观对比
营收规模更大
NET
是对方的1.0倍
$607.6M
营收增速更快
NET
高出26.8%
6.9%
净利率更高
FDS
高出27.1%
-2.0%
自由现金流更多
NET
多$14.8M
$90.4M
两年增速更快
NET
近两年复合增速
5.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $607.6M | $614.5M |
| 净利润 | $152.6M | $-12.1M |
| 毛利率 | 52.6% | 73.6% |
| 营业利润率 | 31.6% | -8.0% |
| 净利率 | 25.1% | -2.0% |
| 营收同比 | 6.9% | 33.6% |
| 净利润同比 | 1.7% | 6.0% |
| 每股收益（稀释后） | $4.06 | $-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FDSNET
| Q4 25 | $607.6M | $614.5M | ||
| Q3 25 | $596.9M | $562.0M | ||
| Q2 25 | $585.5M | $512.3M | ||
| Q1 25 | $570.7M | $479.1M | ||
| Q4 24 | $568.7M | $459.9M | ||
| Q3 24 | $562.2M | $430.1M | ||
| Q2 24 | $552.7M | $401.0M | ||
| Q1 24 | $545.9M | $378.6M |
净利润FDSNET
| Q4 25 | $152.6M | $-12.1M | ||
| Q3 25 | $153.6M | $-1.3M | ||
| Q2 25 | $148.5M | $-50.4M | ||
| Q1 25 | $144.9M | $-38.5M | ||
| Q4 24 | $150.0M | $-12.8M | ||
| Q3 24 | $89.5M | $-15.3M | ||
| Q2 24 | $158.1M | $-15.1M | ||
| Q1 24 | $140.9M | $-35.5M |
毛利率FDSNET
| Q4 25 | 52.6% | 73.6% | ||
| Q3 25 | 51.6% | 74.0% | ||
| Q2 25 | 52.1% | 74.9% | ||
| Q1 25 | 52.8% | 75.9% | ||
| Q4 24 | 54.5% | 76.4% | ||
| Q3 24 | 54.1% | 77.7% | ||
| Q2 24 | 55.3% | 77.8% | ||
| Q1 24 | 53.3% | 77.5% |
营业利润率FDSNET
| Q4 25 | 31.6% | -8.0% | ||
| Q3 25 | 29.7% | -6.7% | ||
| Q2 25 | 33.2% | -13.1% | ||
| Q1 25 | 32.5% | -11.1% | ||
| Q4 24 | 33.6% | -7.5% | ||
| Q3 24 | 22.7% | -7.2% | ||
| Q2 24 | 36.6% | -8.7% | ||
| Q1 24 | 33.3% | -14.4% |
净利率FDSNET
| Q4 25 | 25.1% | -2.0% | ||
| Q3 25 | 25.7% | -0.2% | ||
| Q2 25 | 25.4% | -9.8% | ||
| Q1 25 | 25.4% | -8.0% | ||
| Q4 24 | 26.4% | -2.8% | ||
| Q3 24 | 15.9% | -3.6% | ||
| Q2 24 | 28.6% | -3.8% | ||
| Q1 24 | 25.8% | -9.4% |
每股收益（稀释后）FDSNET
| Q4 25 | $4.06 | $-0.03 | ||
| Q3 25 | $4.03 | $0.00 | ||
| Q2 25 | $3.87 | $-0.15 | ||
| Q1 25 | $3.76 | $-0.11 | ||
| Q4 24 | $3.89 | $-0.05 | ||
| Q3 24 | $2.33 | $-0.04 | ||
| Q2 24 | $4.09 | $-0.04 | ||
| Q1 24 | $3.65 | $-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 | $292.7M | $943.5M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $1.5B |
| 总资产 | $4.2B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.63× | — |
8季度趋势，按日历期对齐
现金及短期投资FDSNET
| Q4 25 | $292.7M | $943.5M | ||
| Q3 25 | $355.1M | $1.1B | ||
| Q2 25 | $364.0M | $1.5B | ||
| Q1 25 | $287.0M | $204.5M | ||
| Q4 24 | $358.8M | $147.7M | ||
| Q3 24 | $492.6M | $182.9M | ||
| Q2 24 | $522.0M | $157.0M | ||
| Q1 24 | $450.2M | $254.4M |
总债务FDSNET
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
股东权益FDSNET
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.0B | $1.0B | ||
| Q3 24 | $1.9B | $973.1M | ||
| Q2 24 | $1.9B | $881.5M | ||
| Q1 24 | $1.8B | $797.2M |
总资产FDSNET
| Q4 25 | $4.2B | $6.0B | ||
| Q3 25 | $4.3B | $5.8B | ||
| Q2 25 | $4.3B | $5.6B | ||
| Q1 25 | $4.2B | $3.7B | ||
| Q4 24 | $4.0B | $3.3B | ||
| Q3 24 | $4.1B | $3.1B | ||
| Q2 24 | $4.0B | $2.9B | ||
| Q1 24 | $4.0B | $2.8B |
负债/权益比FDSNET
| Q4 25 | 0.63× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.66× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.71× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.83× | — |
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 | $121.3M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $90.4M | $105.2M |
| 自由现金流率自由现金流/营收 | 14.9% | 17.1% |
| 资本支出强度资本支出/营收 | 5.1% | 13.9% |
| 现金转化率经营现金流/净利润 | 0.79× | — |
| 过去12个月自由现金流最近4个季度 | $647.4M | $287.5M |
8季度趋势，按日历期对齐
经营现金流FDSNET
| Q4 25 | $121.3M | $190.4M | ||
| Q3 25 | $212.1M | $167.1M | ||
| Q2 25 | $253.8M | $99.8M | ||
| Q1 25 | $174.0M | $145.8M | ||
| Q4 24 | $86.4M | $127.3M | ||
| Q3 24 | $163.2M | $104.7M | ||
| Q2 24 | $238.2M | $74.8M | ||
| Q1 24 | $143.8M | $73.6M |
自由现金流FDSNET
| Q4 25 | $90.4M | $105.2M | ||
| Q3 25 | $178.1M | $82.5M | ||
| Q2 25 | $228.6M | $39.9M | ||
| Q1 25 | $150.2M | $59.9M | ||
| Q4 24 | $60.5M | $54.2M | ||
| Q3 24 | $137.2M | $54.5M | ||
| Q2 24 | $216.9M | $45.2M | ||
| Q1 24 | $121.9M | $41.5M |
自由现金流率FDSNET
| Q4 25 | 14.9% | 17.1% | ||
| Q3 25 | 29.8% | 14.7% | ||
| Q2 25 | 39.0% | 7.8% | ||
| Q1 25 | 26.3% | 12.5% | ||
| Q4 24 | 10.6% | 11.8% | ||
| Q3 24 | 24.4% | 12.7% | ||
| Q2 24 | 39.2% | 11.3% | ||
| Q1 24 | 22.3% | 11.0% |
资本支出强度FDSNET
| Q4 25 | 5.1% | 13.9% | ||
| Q3 25 | 5.7% | 15.1% | ||
| Q2 25 | 4.3% | 11.7% | ||
| Q1 25 | 4.2% | 17.9% | ||
| Q4 24 | 4.5% | 15.9% | ||
| Q3 24 | 4.6% | 11.7% | ||
| Q2 24 | 3.9% | 7.4% | ||
| Q1 24 | 4.0% | 8.5% |
现金转化率FDSNET
| Q4 25 | 0.79× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.71× | — | ||
| Q1 25 | 1.20× | — | ||
| Q4 24 | 0.58× | — | ||
| Q3 24 | 1.82× | — | ||
| Q2 24 | 1.51× | — | ||
| Q1 24 | 1.02× | — |
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
FDS
| Americas Segment | $399.7M | 66% |
| EMEA Segment | $149.1M | 25% |
| Asia Pacific Segment | $62.2M | 10% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
