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盖尔斯（GES）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
盖尔斯的季度营收约是Cloudflare, Inc.的1.3倍（$791.4M vs $614.5M），盖尔斯净利率更高（3.2% vs -2.0%，领先5.2%），Cloudflare, Inc.同比增速更快（33.6% vs 7.2%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-56.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -5.8%）
盖尔斯是美国知名服饰品牌企业，以标志性的黑白风格广告广为人知。除核心服饰产品外，品牌还通过品牌授权模式推出腕表、珠宝、香水、包袋、鞋履等各类时尚配饰，在全球时尚消费市场拥有较高知名度。
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。
GES vs NET — 直观对比
营收规模更大
GES
是对方的1.3倍
$614.5M
营收增速更快
NET
高出26.4%
7.2%
净利率更高
GES
高出5.2%
-2.0%
自由现金流更多
NET
多$161.6M
$-56.3M
两年增速更快
NET
近两年复合增速
-5.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $791.4M | $614.5M |
| 净利润 | $25.6M | $-12.1M |
| 毛利率 | 42.5% | 73.6% |
| 营业利润率 | 2.9% | -8.0% |
| 净利率 | 3.2% | -2.0% |
| 营收同比 | 7.2% | 33.6% |
| 净利润同比 | 209.6% | 6.0% |
| 每股收益（稀释后） | $0.48 | $-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GESNET
| Q4 25 | $791.4M | $614.5M | ||
| Q3 25 | $772.9M | $562.0M | ||
| Q2 25 | $647.8M | $512.3M | ||
| Q1 25 | $932.3M | $479.1M | ||
| Q4 24 | $738.5M | $459.9M | ||
| Q3 24 | $732.6M | $430.1M | ||
| Q2 24 | $591.9M | $401.0M | ||
| Q1 24 | $891.0M | $378.6M |
净利润GESNET
| Q4 25 | $25.6M | $-12.1M | ||
| Q3 25 | $6.2M | $-1.3M | ||
| Q2 25 | $-32.9M | $-50.4M | ||
| Q1 25 | $81.4M | $-38.5M | ||
| Q4 24 | $-23.4M | $-12.8M | ||
| Q3 24 | $-10.6M | $-15.3M | ||
| Q2 24 | $13.0M | $-15.1M | ||
| Q1 24 | $115.3M | $-35.5M |
毛利率GESNET
| Q4 25 | 42.5% | 73.6% | ||
| Q3 25 | 42.5% | 74.0% | ||
| Q2 25 | 39.9% | 74.9% | ||
| Q1 25 | 44.1% | 75.9% | ||
| Q4 24 | 43.6% | 76.4% | ||
| Q3 24 | 43.7% | 77.7% | ||
| Q2 24 | 41.9% | 77.8% | ||
| Q1 24 | 45.4% | 77.5% |
营业利润率GESNET
| Q4 25 | 2.9% | -8.0% | ||
| Q3 25 | 2.3% | -6.7% | ||
| Q2 25 | -5.1% | -13.1% | ||
| Q1 25 | 11.1% | -11.1% | ||
| Q4 24 | 5.7% | -7.5% | ||
| Q3 24 | 6.5% | -7.2% | ||
| Q2 24 | -3.4% | -8.7% | ||
| Q1 24 | 16.3% | -14.4% |
净利率GESNET
| Q4 25 | 3.2% | -2.0% | ||
| Q3 25 | 0.8% | -0.2% | ||
| Q2 25 | -5.1% | -9.8% | ||
| Q1 25 | 8.7% | -8.0% | ||
| Q4 24 | -3.2% | -2.8% | ||
| Q3 24 | -1.4% | -3.6% | ||
| Q2 24 | 2.2% | -3.8% | ||
| Q1 24 | 12.9% | -9.4% |
每股收益（稀释后）GESNET
| Q4 25 | $0.48 | $-0.03 | ||
| Q3 25 | $0.12 | $0.00 | ||
| Q2 25 | $-0.65 | $-0.15 | ||
| Q1 25 | $1.29 | $-0.11 | ||
| Q4 24 | $-0.47 | $-0.05 | ||
| Q3 24 | $-0.28 | $-0.04 | ||
| Q2 24 | $0.23 | $-0.04 | ||
| Q1 24 | $1.90 | $-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 | $154.2M | $943.5M |
| 总债务越低越好 | $299.5M | — |
| 股东权益账面价值 | $508.5M | $1.5B |
| 总资产 | $3.0B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.59× | — |
8季度趋势，按日历期对齐
现金及短期投资GESNET
| Q4 25 | $154.2M | $943.5M | ||
| Q3 25 | $189.6M | $1.1B | ||
| Q2 25 | $151.2M | $1.5B | ||
| Q1 25 | $187.7M | $204.5M | ||
| Q4 24 | $140.9M | $147.7M | ||
| Q3 24 | $218.9M | $182.9M | ||
| Q2 24 | $241.7M | $157.0M | ||
| Q1 24 | $360.3M | $254.4M |
总债务GESNET
| Q4 25 | $299.5M | — | ||
| Q3 25 | $258.4M | — | ||
| Q2 25 | $241.7M | — | ||
| Q1 25 | $150.7M | — | ||
| Q4 24 | $238.3M | — | ||
| Q3 24 | $187.8M | — | ||
| Q2 24 | $196.9M | — | ||
| Q1 24 | $28.2M | — |
股东权益GESNET
| Q4 25 | $508.5M | $1.5B | ||
| Q3 25 | $487.6M | $1.3B | ||
| Q2 25 | $483.6M | $1.2B | ||
| Q1 25 | $505.0M | $1.4B | ||
| Q4 24 | $450.7M | $1.0B | ||
| Q3 24 | $491.2M | $973.1M | ||
| Q2 24 | $565.5M | $881.5M | ||
| Q1 24 | $684.9M | $797.2M |
总资产GESNET
| Q4 25 | $3.0B | $6.0B | ||
| Q3 25 | $3.0B | $5.8B | ||
| Q2 25 | $2.9B | $5.6B | ||
| Q1 25 | $2.8B | $3.7B | ||
| Q4 24 | $2.8B | $3.3B | ||
| Q3 24 | $2.8B | $3.1B | ||
| Q2 24 | $2.7B | $2.9B | ||
| Q1 24 | $2.6B | $2.8B |
负债/权益比GESNET
| Q4 25 | 0.59× | — | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.04× | — |
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 | $-39.5M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-56.3M | $105.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 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 | -1.54× | — |
| 过去12个月自由现金流最近4个季度 | $62.5M | $287.5M |
8季度趋势，按日历期对齐
经营现金流GESNET
| Q4 25 | $-39.5M | $190.4M | ||
| Q3 25 | $74.9M | $167.1M | ||
| Q2 25 | $-73.4M | $99.8M | ||
| Q1 25 | $183.2M | $145.8M | ||
| Q4 24 | $-83.3M | $127.3M | ||
| Q3 24 | $44.7M | $104.7M | ||
| Q2 24 | $-22.9M | $74.8M | ||
| Q1 24 | $289.5M | $73.6M |
自由现金流GESNET
| Q4 25 | $-56.3M | $105.2M | ||
| Q3 25 | $53.4M | $82.5M | ||
| Q2 25 | $-95.3M | $39.9M | ||
| Q1 25 | $160.7M | $59.9M | ||
| Q4 24 | $-105.4M | $54.2M | ||
| Q3 24 | $24.3M | $54.5M | ||
| Q2 24 | $-44.0M | $45.2M | ||
| Q1 24 | $267.8M | $41.5M |
自由现金流率GESNET
| Q4 25 | -7.1% | 17.1% | ||
| Q3 25 | 6.9% | 14.7% | ||
| Q2 25 | -14.7% | 7.8% | ||
| Q1 25 | 17.2% | 12.5% | ||
| Q4 24 | -14.3% | 11.8% | ||
| Q3 24 | 3.3% | 12.7% | ||
| Q2 24 | -7.4% | 11.3% | ||
| Q1 24 | 30.1% | 11.0% |
资本支出强度GESNET
| Q4 25 | 2.1% | 13.9% | ||
| Q3 25 | 2.8% | 15.1% | ||
| Q2 25 | 3.4% | 11.7% | ||
| Q1 25 | 2.4% | 17.9% | ||
| Q4 24 | 3.0% | 15.9% | ||
| Q3 24 | 2.8% | 11.7% | ||
| Q2 24 | 3.6% | 7.4% | ||
| Q1 24 | 2.4% | 8.5% |
现金转化率GESNET
| Q4 25 | -1.54× | — | ||
| Q3 25 | 12.00× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.25× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.76× | — | ||
| Q1 24 | 2.51× | — |
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
GES
| Products | $760.3M | 96% |
| Royalty | $31.1M | 4% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
