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Federal Realty Investment Trust（FRT）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Federal Realty Investment Trust的1.8倍（$614.5M vs $336.0M），Federal Realty Investment Trust净利率更高（38.6% vs -2.0%，领先40.6%），Cloudflare, Inc.同比增速更快（33.6% vs 8.7%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.5%）
Federal Realty Investment Trust是一家专业房地产投资信托基金，核心投资标的为购物中心类商业物业，资产布局覆盖美国东北部、大西洋中部地区、加利福尼亚州及南佛罗里达区域，在当地商业不动产投资领域拥有丰富的运营经验。
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。
FRT vs NET — 直观对比
营收规模更大
NET
是对方的1.8倍
$336.0M
营收增速更快
NET
高出24.9%
8.7%
净利率更高
FRT
高出40.6%
-2.0%
两年增速更快
NET
近两年复合增速
6.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $336.0M | $614.5M |
| 净利润 | $129.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 53.8% | -8.0% |
| 净利率 | 38.6% | -2.0% |
| 营收同比 | 8.7% | 33.6% |
| 净利润同比 | 103.5% | 6.0% |
| 每股收益（稀释后） | $1.49 | $-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FRTNET
| Q1 26 | $336.0M | — | ||
| Q4 25 | $336.0M | $614.5M | ||
| Q3 25 | $322.3M | $562.0M | ||
| Q2 25 | $311.5M | $512.3M | ||
| Q1 25 | $309.2M | $479.1M | ||
| Q4 24 | $311.4M | $459.9M | ||
| Q3 24 | $303.6M | $430.1M | ||
| Q2 24 | $296.1M | $401.0M |
净利润FRTNET
| Q1 26 | $129.7M | — | ||
| Q4 25 | $129.7M | $-12.1M | ||
| Q3 25 | $61.6M | $-1.3M | ||
| Q2 25 | $155.9M | $-50.4M | ||
| Q1 25 | $63.8M | $-38.5M | ||
| Q4 24 | $65.5M | $-12.8M | ||
| Q3 24 | $61.0M | $-15.3M | ||
| Q2 24 | $112.0M | $-15.1M |
毛利率FRTNET
| 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FRTNET
| Q1 26 | 53.8% | — | ||
| Q4 25 | 53.8% | -8.0% | ||
| Q3 25 | 34.3% | -6.7% | ||
| Q2 25 | 65.1% | -13.1% | ||
| Q1 25 | 35.0% | -11.1% | ||
| Q4 24 | 35.1% | -7.5% | ||
| Q3 24 | 34.9% | -7.2% | ||
| Q2 24 | 53.0% | -8.7% |
净利率FRTNET
| Q1 26 | 38.6% | — | ||
| Q4 25 | 38.6% | -2.0% | ||
| Q3 25 | 19.1% | -0.2% | ||
| Q2 25 | 50.0% | -9.8% | ||
| Q1 25 | 20.6% | -8.0% | ||
| Q4 24 | 21.0% | -2.8% | ||
| Q3 24 | 20.1% | -3.6% | ||
| Q2 24 | 37.8% | -3.8% |
每股收益（稀释后）FRTNET
| Q1 26 | $1.49 | — | ||
| Q4 25 | $1.49 | $-0.03 | ||
| Q3 25 | $0.69 | $0.00 | ||
| Q2 25 | $1.78 | $-0.15 | ||
| Q1 25 | $0.72 | $-0.11 | ||
| Q4 24 | $0.74 | $-0.05 | ||
| Q3 24 | $0.70 | $-0.04 | ||
| Q2 24 | $1.32 | $-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 | $107.4M | $943.5M |
| 总债务越低越好 | $5.0B | — |
| 股东权益账面价值 | $3.2B | $1.5B |
| 总资产 | $9.1B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.53× | — |
8季度趋势，按日历期对齐
现金及短期投资FRTNET
| Q1 26 | $107.4M | — | ||
| Q4 25 | $107.4M | $943.5M | ||
| Q3 25 | $111.3M | $1.1B | ||
| Q2 25 | $177.0M | $1.5B | ||
| Q1 25 | $109.2M | $204.5M | ||
| Q4 24 | $123.4M | $147.7M | ||
| Q3 24 | $97.0M | $182.9M | ||
| Q2 24 | $103.2M | $157.0M |
总债务FRTNET
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FRTNET
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.5B | ||
| Q3 25 | $3.2B | $1.3B | ||
| Q2 25 | $3.2B | $1.2B | ||
| Q1 25 | $3.2B | $1.4B | ||
| Q4 24 | $3.2B | $1.0B | ||
| Q3 24 | $3.1B | $973.1M | ||
| Q2 24 | $3.0B | $881.5M |
总资产FRTNET
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.1B | $6.0B | ||
| Q3 25 | $8.9B | $5.8B | ||
| Q2 25 | $8.6B | $5.6B | ||
| Q1 25 | $8.6B | $3.7B | ||
| Q4 24 | $8.5B | $3.3B | ||
| Q3 24 | $8.5B | $3.1B | ||
| Q2 24 | $8.4B | $2.9B |
负债/权益比FRTNET
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.53× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.42× | — | ||
| 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FRTNET
| Q1 26 | — | — | ||
| Q4 25 | $622.4M | $190.4M | ||
| Q3 25 | $147.8M | $167.1M | ||
| Q2 25 | $150.7M | $99.8M | ||
| Q1 25 | $179.0M | $145.8M | ||
| Q4 24 | $574.6M | $127.3M | ||
| Q3 24 | $144.1M | $104.7M | ||
| Q2 24 | $169.7M | $74.8M |
自由现金流FRTNET
| Q1 26 | — | — | ||
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M |
自由现金流率FRTNET
| Q1 26 | — | — | ||
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% |
资本支出强度FRTNET
| Q1 26 | — | — | ||
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% |
现金转化率FRTNET
| Q1 26 | — | — | ||
| Q4 25 | 4.80× | — | ||
| Q3 25 | 2.40× | — | ||
| Q2 25 | 0.97× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 8.77× | — | ||
| Q3 24 | 2.36× | — | ||
| Q2 24 | 1.52× | — |
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
FRT
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
