vs
Acushnet Holdings Corp.（GOLF）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Acushnet Holdings Corp.的1.3倍（$614.5M vs $477.2M），Cloudflare, Inc.净利率更高（-2.0% vs -7.3%，领先5.3%），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 $-23.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -17.9%）
Acushnet Holdings Corp.是一家专注于高尔夫赛道的美国企业，旗下运营多个知名品牌，产品品类覆盖高尔夫专业器材、运动服饰及相关配件，为全球高尔夫运动爱好者提供多元化的相关产品选择。
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。
GOLF vs NET — 直观对比
营收规模更大
NET
是对方的1.3倍
$477.2M
营收增速更快
NET
高出26.4%
7.2%
净利率更高
NET
高出5.3%
-7.3%
自由现金流更多
NET
多$128.6M
$-23.3M
两年增速更快
NET
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $477.2M | $614.5M |
| 净利润 | $-34.9M | $-12.1M |
| 毛利率 | 44.1% | 73.6% |
| 营业利润率 | -3.8% | -8.0% |
| 净利率 | -7.3% | -2.0% |
| 营收同比 | 7.2% | 33.6% |
| 净利润同比 | -3027.3% | 6.0% |
| 每股收益（稀释后） | $-0.57 | $-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GOLFNET
| Q4 25 | $477.2M | $614.5M | ||
| Q3 25 | $657.7M | $562.0M | ||
| Q2 25 | $720.5M | $512.3M | ||
| Q1 25 | $703.4M | $479.1M | ||
| Q4 24 | $445.2M | $459.9M | ||
| Q3 24 | $620.5M | $430.1M | ||
| Q2 24 | $683.9M | $401.0M | ||
| Q1 24 | $707.6M | $378.6M |
净利润GOLFNET
| Q4 25 | $-34.9M | $-12.1M | ||
| Q3 25 | $48.5M | $-1.3M | ||
| Q2 25 | $75.6M | $-50.4M | ||
| Q1 25 | $99.4M | $-38.5M | ||
| Q4 24 | $-1.1M | $-12.8M | ||
| Q3 24 | $56.2M | $-15.3M | ||
| Q2 24 | $71.4M | $-15.1M | ||
| Q1 24 | $87.8M | $-35.5M |
毛利率GOLFNET
| Q4 25 | 44.1% | 73.6% | ||
| Q3 25 | 48.5% | 74.0% | ||
| Q2 25 | 49.2% | 74.9% | ||
| Q1 25 | 47.9% | 75.9% | ||
| Q4 24 | 22.6% | 76.4% | ||
| Q3 24 | 54.4% | 77.7% | ||
| Q2 24 | 54.4% | 77.8% | ||
| Q1 24 | 53.4% | 77.5% |
营业利润率GOLFNET
| Q4 25 | -3.8% | -8.0% | ||
| Q3 25 | 14.1% | -6.7% | ||
| Q2 25 | 15.2% | -13.1% | ||
| Q1 25 | 16.3% | -11.1% | ||
| Q4 24 | -1.2% | -7.5% | ||
| Q3 24 | 13.2% | -7.2% | ||
| Q2 24 | 15.5% | -8.7% | ||
| Q1 24 | 17.2% | -14.4% |
净利率GOLFNET
| Q4 25 | -7.3% | -2.0% | ||
| Q3 25 | 7.4% | -0.2% | ||
| Q2 25 | 10.5% | -9.8% | ||
| Q1 25 | 14.1% | -8.0% | ||
| Q4 24 | -0.3% | -2.8% | ||
| Q3 24 | 9.1% | -3.6% | ||
| Q2 24 | 10.4% | -3.8% | ||
| Q1 24 | 12.4% | -9.4% |
每股收益（稀释后）GOLFNET
| Q4 25 | $-0.57 | $-0.03 | ||
| Q3 25 | $0.81 | $0.00 | ||
| Q2 25 | $1.25 | $-0.15 | ||
| Q1 25 | $1.62 | $-0.11 | ||
| Q4 24 | $0.02 | $-0.05 | ||
| Q3 24 | $0.89 | $-0.04 | ||
| Q2 24 | $1.11 | $-0.04 | ||
| Q1 24 | $1.35 | $-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 | $926.2M | — |
| 股东权益账面价值 | $783.6M | $1.5B |
| 总资产 | $2.3B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.18× | — |
8季度趋势，按日历期对齐
现金及短期投资GOLFNET
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M | ||
| Q1 24 | — | $254.4M |
总债务GOLFNET
| Q4 25 | $926.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $753.1M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GOLFNET
| Q4 25 | $783.6M | $1.5B | ||
| Q3 25 | $852.3M | $1.3B | ||
| Q2 25 | $808.5M | $1.2B | ||
| Q1 25 | $780.3M | $1.4B | ||
| Q4 24 | $765.2M | $1.0B | ||
| Q3 24 | $863.9M | $973.1M | ||
| Q2 24 | $863.7M | $881.5M | ||
| Q1 24 | $883.7M | $797.2M |
总资产GOLFNET
| Q4 25 | $2.3B | $6.0B | ||
| Q3 25 | $2.4B | $5.8B | ||
| Q2 25 | $2.4B | $5.6B | ||
| Q1 25 | $2.4B | $3.7B | ||
| Q4 24 | $2.2B | $3.3B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.4B | $2.8B |
负债/权益比GOLFNET
| Q4 25 | 1.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-338.0K | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-23.3M | $105.2M |
| 自由现金流率自由现金流/营收 | -4.9% | 17.1% |
| 资本支出强度资本支出/营收 | 4.8% | 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 | $120.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流GOLFNET
| Q4 25 | $-338.0K | $190.4M | ||
| Q3 25 | $163.1M | $167.1M | ||
| Q2 25 | $151.9M | $99.8M | ||
| Q1 25 | $-120.3M | $145.8M | ||
| Q4 24 | $-1.1M | $127.3M | ||
| Q3 24 | $144.1M | $104.7M | ||
| Q2 24 | $211.6M | $74.8M | ||
| Q1 24 | $-109.5M | $73.6M |
自由现金流GOLFNET
| Q4 25 | $-23.3M | $105.2M | ||
| Q3 25 | $136.9M | $82.5M | ||
| Q2 25 | $138.0M | $39.9M | ||
| Q1 25 | $-131.5M | $59.9M | ||
| Q4 24 | $-33.2M | $54.2M | ||
| Q3 24 | $123.7M | $54.5M | ||
| Q2 24 | $196.8M | $45.2M | ||
| Q1 24 | $-116.8M | $41.5M |
自由现金流率GOLFNET
| Q4 25 | -4.9% | 17.1% | ||
| Q3 25 | 20.8% | 14.7% | ||
| Q2 25 | 19.2% | 7.8% | ||
| Q1 25 | -18.7% | 12.5% | ||
| Q4 24 | -7.5% | 11.8% | ||
| Q3 24 | 19.9% | 12.7% | ||
| Q2 24 | 28.8% | 11.3% | ||
| Q1 24 | -16.5% | 11.0% |
资本支出强度GOLFNET
| Q4 25 | 4.8% | 13.9% | ||
| Q3 25 | 4.0% | 15.1% | ||
| Q2 25 | 1.9% | 11.7% | ||
| Q1 25 | 1.6% | 17.9% | ||
| Q4 24 | 7.2% | 15.9% | ||
| Q3 24 | 3.3% | 11.7% | ||
| Q2 24 | 2.2% | 7.4% | ||
| Q1 24 | 1.0% | 8.5% |
现金转化率GOLFNET
| Q4 25 | — | — | ||
| Q3 25 | 3.36× | — | ||
| Q2 25 | 2.01× | — | ||
| Q1 25 | -1.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 2.96× | — | ||
| Q1 24 | -1.25× | — |
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
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
