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Gaming & Leisure Properties, Inc.（GLPI）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Gaming & Leisure Properties, Inc.的1.5倍（$614.5M vs $420.0M），Gaming & Leisure Properties, Inc.净利率更高（57.0% vs -2.0%，领先59.0%），Cloudflare, Inc.同比增速更快（33.6% vs 6.3%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 5.0%）
博彩与休闲地产公司（GLPI）是一家专注于赌场物业的房地产投资信托（REIT），总部位于宾夕法尼亚州怀奥米辛。公司于2013年11月从宾州国民娱乐分拆成立，目前持有62处赌场物业，全部对外出租给其他企业运营。
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。
GLPI vs NET — 直观对比
营收规模更大
NET
是对方的1.5倍
$420.0M
营收增速更快
NET
高出27.3%
6.3%
净利率更高
GLPI
高出59.0%
-2.0%
两年增速更快
NET
近两年复合增速
5.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $420.0M | $614.5M |
| 净利润 | $239.4M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 79.4% | -8.0% |
| 净利率 | 57.0% | -2.0% |
| 营收同比 | 6.3% | 33.6% |
| 净利润同比 | 40.5% | 6.0% |
| 每股收益（稀释后） | — | $-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GLPINET
| Q1 26 | $420.0M | — | ||
| Q4 25 | $407.0M | $614.5M | ||
| Q3 25 | $397.6M | $562.0M | ||
| Q2 25 | $394.9M | $512.3M | ||
| Q1 25 | $395.2M | $479.1M | ||
| Q4 24 | $389.6M | $459.9M | ||
| Q3 24 | $385.3M | $430.1M | ||
| Q2 24 | $380.6M | $401.0M |
净利润GLPINET
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $-12.1M | ||
| Q3 25 | $241.2M | $-1.3M | ||
| Q2 25 | $151.4M | $-50.4M | ||
| Q1 25 | $165.2M | $-38.5M | ||
| Q4 24 | $223.6M | $-12.8M | ||
| Q3 24 | $184.7M | $-15.3M | ||
| Q2 24 | $208.3M | $-15.1M |
毛利率GLPINET
| 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GLPINET
| Q1 26 | 79.4% | — | ||
| Q4 25 | 89.3% | -8.0% | ||
| Q3 25 | 84.8% | -6.7% | ||
| Q2 25 | 61.3% | -13.1% | ||
| Q1 25 | 65.5% | -11.1% | ||
| Q4 24 | 79.1% | -7.5% | ||
| Q3 24 | 70.4% | -7.2% | ||
| Q2 24 | 77.1% | -8.7% |
净利率GLPINET
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | -2.0% | ||
| Q3 25 | 60.7% | -0.2% | ||
| Q2 25 | 38.4% | -9.8% | ||
| Q1 25 | 41.8% | -8.0% | ||
| Q4 24 | 57.4% | -2.8% | ||
| Q3 24 | 47.9% | -3.6% | ||
| Q2 24 | 54.7% | -3.8% |
每股收益（稀释后）GLPINET
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $-0.03 | ||
| Q3 25 | $0.85 | $0.00 | ||
| Q2 25 | $0.54 | $-0.15 | ||
| Q1 25 | $0.60 | $-0.11 | ||
| Q4 24 | $0.79 | $-0.05 | ||
| Q3 24 | $0.67 | $-0.04 | ||
| Q2 24 | $0.77 | $-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 | $274.5M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $5.0B | $1.5B |
| 总资产 | $13.8B | $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GLPINET
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | $560.8M | $147.7M | ||
| Q3 24 | $560.8M | $182.9M | ||
| Q2 24 | $560.8M | $157.0M |
总债务GLPINET
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $6.9B | — | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.6B | — |
股东权益GLPINET
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $1.5B | ||
| Q3 25 | $4.6B | $1.3B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.2B | $1.4B | ||
| Q4 24 | $4.3B | $1.0B | ||
| Q3 24 | $4.3B | $973.1M | ||
| Q2 24 | $4.1B | $881.5M |
总资产GLPINET
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $6.0B | ||
| Q3 25 | $12.8B | $5.8B | ||
| Q2 25 | $12.5B | $5.6B | ||
| Q1 25 | $12.1B | $3.7B | ||
| Q4 24 | $13.1B | $3.3B | ||
| Q3 24 | $12.7B | $3.1B | ||
| Q2 24 | $11.8B | $2.9B |
负债/权益比GLPINET
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.60× | — |
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GLPINET
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $190.4M | ||
| Q3 25 | $240.3M | $167.1M | ||
| Q2 25 | $293.4M | $99.8M | ||
| Q1 25 | $252.5M | $145.8M | ||
| Q4 24 | $1.1B | $127.3M | ||
| Q3 24 | $270.4M | $104.7M | ||
| Q2 24 | $252.1M | $74.8M |
自由现金流GLPINET
| Q1 26 | — | — | ||
| Q4 25 | — | $105.2M | ||
| Q3 25 | $183.0M | $82.5M | ||
| Q2 25 | $272.3M | $39.9M | ||
| Q1 25 | $239.6M | $59.9M | ||
| Q4 24 | $1.1B | $54.2M | ||
| Q3 24 | $261.5M | $54.5M | ||
| Q2 24 | $245.0M | $45.2M |
自由现金流率GLPINET
| Q1 26 | — | — | ||
| Q4 25 | — | 17.1% | ||
| Q3 25 | 46.0% | 14.7% | ||
| Q2 25 | 69.0% | 7.8% | ||
| Q1 25 | 60.6% | 12.5% | ||
| Q4 24 | 275.3% | 11.8% | ||
| Q3 24 | 67.9% | 12.7% | ||
| Q2 24 | 64.4% | 11.3% |
资本支出强度GLPINET
| Q1 26 | — | — | ||
| Q4 25 | — | 13.9% | ||
| Q3 25 | 14.4% | 15.1% | ||
| Q2 25 | 5.3% | 11.7% | ||
| Q1 25 | 3.3% | 17.9% | ||
| Q4 24 | 0.0% | 15.9% | ||
| Q3 24 | 2.3% | 11.7% | ||
| Q2 24 | 1.9% | 7.4% |
现金转化率GLPINET
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | — | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 1.94× | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 4.80× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | 1.21× | — |
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
GLPI
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
