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FOX FACTORY HOLDING CORP（FOXF）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FOX FACTORY HOLDING CORP的1.6倍（$614.5M vs $376.4M），FOX FACTORY HOLDING CORP净利率更高（-0.2% vs -2.0%，领先1.8%），Cloudflare, Inc.同比增速更快（33.6% vs 4.8%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-2.5M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.4%）
福克斯工厂控股公司是一家美国企业，旗下最知名的产品为Fox Racing Shox品牌的越野赛车减震悬挂部件，该品牌在越野改装和赛车领域拥有较高知名度，深受越野运动爱好者与专业赛车队伍的认可。
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。
FOXF vs NET — 直观对比
营收规模更大
NET
是对方的1.6倍
$376.4M
营收增速更快
NET
高出28.8%
4.8%
净利率更高
FOXF
高出1.8%
-2.0%
自由现金流更多
NET
多$107.7M
$-2.5M
两年增速更快
NET
近两年复合增速
6.4%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $376.4M | $614.5M |
| 净利润 | $-634.0K | $-12.1M |
| 毛利率 | 30.4% | 73.6% |
| 营业利润率 | 4.0% | -8.0% |
| 净利率 | -0.2% | -2.0% |
| 营收同比 | 4.8% | 33.6% |
| 净利润同比 | -113.3% | 6.0% |
| 每股收益（稀释后） | $-0.02 | $-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FOXFNET
| Q4 25 | $376.4M | $614.5M | ||
| Q3 25 | $374.9M | $562.0M | ||
| Q2 25 | $355.0M | $512.3M | ||
| Q1 25 | $352.8M | $479.1M | ||
| Q4 24 | — | $459.9M | ||
| Q3 24 | $359.1M | $430.1M | ||
| Q2 24 | $348.5M | $401.0M | ||
| Q1 24 | $333.5M | $378.6M |
净利润FOXFNET
| Q4 25 | $-634.0K | $-12.1M | ||
| Q3 25 | $2.7M | $-1.3M | ||
| Q2 25 | $-259.7M | $-50.4M | ||
| Q1 25 | $-141.0K | $-38.5M | ||
| Q4 24 | — | $-12.8M | ||
| Q3 24 | $4.8M | $-15.3M | ||
| Q2 24 | $5.4M | $-15.1M | ||
| Q1 24 | $-3.5M | $-35.5M |
毛利率FOXFNET
| Q4 25 | 30.4% | 73.6% | ||
| Q3 25 | 31.2% | 74.0% | ||
| Q2 25 | 30.9% | 74.9% | ||
| Q1 25 | 28.9% | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | 29.9% | 77.7% | ||
| Q2 24 | 31.8% | 77.8% | ||
| Q1 24 | 30.9% | 77.5% |
营业利润率FOXFNET
| Q4 25 | 4.0% | -8.0% | ||
| Q3 25 | 4.9% | -6.7% | ||
| Q2 25 | -70.6% | -13.1% | ||
| Q1 25 | 3.2% | -11.1% | ||
| Q4 24 | — | -7.5% | ||
| Q3 24 | 5.2% | -7.2% | ||
| Q2 24 | 5.3% | -8.7% | ||
| Q1 24 | 2.7% | -14.4% |
净利率FOXFNET
| Q4 25 | -0.2% | -2.0% | ||
| Q3 25 | 0.7% | -0.2% | ||
| Q2 25 | -73.1% | -9.8% | ||
| Q1 25 | -0.0% | -8.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | 1.3% | -3.6% | ||
| Q2 24 | 1.6% | -3.8% | ||
| Q1 24 | -1.0% | -9.4% |
每股收益（稀释后）FOXFNET
| Q4 25 | $-0.02 | $-0.03 | ||
| Q3 25 | $0.07 | $0.00 | ||
| Q2 25 | $-6.23 | $-0.15 | ||
| Q1 25 | $0.00 | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $0.11 | $-0.04 | ||
| Q2 24 | $0.13 | $-0.04 | ||
| Q1 24 | $-0.08 | $-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 | — | $943.5M |
| 总债务越低越好 | $536.7M | — |
| 股东权益账面价值 | $956.0M | $1.5B |
| 总资产 | $2.0B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资FOXFNET
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $71.7M | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M | ||
| Q1 24 | — | $254.4M |
总债务FOXFNET
| Q4 25 | $536.7M | — | ||
| Q3 25 | $541.8M | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | $552.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $558.4M | — | ||
| Q2 24 | $564.1M | — | ||
| Q1 24 | $370.4M | — |
股东权益FOXFNET
| Q4 25 | $956.0M | $1.5B | ||
| Q3 25 | $958.7M | $1.3B | ||
| Q2 25 | $939.9M | $1.2B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.2B | $973.1M | ||
| Q2 24 | $1.2B | $881.5M | ||
| Q1 24 | $1.2B | $797.2M |
总资产FOXFNET
| Q4 25 | $2.0B | $6.0B | ||
| Q3 25 | $2.0B | $5.8B | ||
| Q2 25 | $1.9B | $5.6B | ||
| Q1 25 | $2.2B | $3.7B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.2B | $2.8B |
负债/权益比FOXFNET
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.31× | — |
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 | $5.3M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-2.5M | $105.2M |
| 自由现金流率自由现金流/营收 | -0.7% | 17.1% |
| 资本支出强度资本支出/营收 | 2.1% | 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 | $85.4M | $287.5M |
8季度趋势，按日历期对齐
经营现金流FOXFNET
| Q4 25 | $5.3M | $190.4M | ||
| Q3 25 | $36.8M | $167.1M | ||
| Q2 25 | $680.0K | $99.8M | ||
| Q1 25 | $81.7M | $145.8M | ||
| Q4 24 | — | $127.3M | ||
| Q3 24 | $14.1M | $104.7M | ||
| Q2 24 | $26.7M | $74.8M | ||
| Q1 24 | $9.4M | $73.6M |
自由现金流FOXFNET
| Q4 25 | $-2.5M | $105.2M | ||
| Q3 25 | $24.6M | $82.5M | ||
| Q2 25 | $-6.5M | $39.9M | ||
| Q1 25 | $69.8M | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | $3.2M | $54.5M | ||
| Q2 24 | $15.4M | $45.2M | ||
| Q1 24 | $-555.0K | $41.5M |
自由现金流率FOXFNET
| Q4 25 | -0.7% | 17.1% | ||
| Q3 25 | 6.6% | 14.7% | ||
| Q2 25 | -1.8% | 7.8% | ||
| Q1 25 | 19.8% | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 0.9% | 12.7% | ||
| Q2 24 | 4.4% | 11.3% | ||
| Q1 24 | -0.2% | 11.0% |
资本支出强度FOXFNET
| Q4 25 | 2.1% | 13.9% | ||
| Q3 25 | 3.3% | 15.1% | ||
| Q2 25 | 2.0% | 11.7% | ||
| Q1 25 | 3.4% | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | 3.0% | 11.7% | ||
| Q2 24 | 3.2% | 7.4% | ||
| Q1 24 | 3.0% | 8.5% |
现金转化率FOXFNET
| Q4 25 | — | — | ||
| Q3 25 | 13.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.94× | — | ||
| Q2 24 | 4.94× | — | ||
| Q1 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
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
