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WARRIOR MET COAL, INC.（HCC）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WARRIOR MET COAL, INC.的1.3倍（$614.5M vs $458.6M），WARRIOR MET COAL, INC.净利率更高（15.8% vs -2.0%，领先17.7%），WARRIOR MET COAL, INC.同比增速更快（52.1% vs 33.6%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 7.5%）
Warrior Met Coal（股票代码HCC）是总部位于美国的矿业企业，主营高品质冶金煤的开采与供应，其产品是钢铁制造的核心原材料，主要服务北美、欧洲、亚洲地区的钢铁生产商及工业客户。
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。
HCC vs NET — 直观对比
营收规模更大
NET
是对方的1.3倍
$458.6M
营收增速更快
HCC
高出18.5%
33.6%
净利率更高
HCC
高出17.7%
-2.0%
两年增速更快
NET
近两年复合增速
7.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $458.6M | $614.5M |
| 净利润 | $72.3M | $-12.1M |
| 毛利率 | 36.7% | 73.6% |
| 营业利润率 | 17.3% | -8.0% |
| 净利率 | 15.8% | -2.0% |
| 营收同比 | 52.1% | 33.6% |
| 净利润同比 | — | 6.0% |
| 每股收益（稀释后） | $1.37 | $-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HCCNET
| Q1 26 | $458.6M | — | ||
| Q4 25 | $384.0M | $614.5M | ||
| Q3 25 | $328.6M | $562.0M | ||
| Q2 25 | $297.5M | $512.3M | ||
| Q1 25 | $299.9M | $479.1M | ||
| Q4 24 | $297.5M | $459.9M | ||
| Q3 24 | $327.7M | $430.1M | ||
| Q2 24 | $396.5M | $401.0M |
净利润HCCNET
| Q1 26 | $72.3M | — | ||
| Q4 25 | $23.0M | $-12.1M | ||
| Q3 25 | $36.6M | $-1.3M | ||
| Q2 25 | $5.6M | $-50.4M | ||
| Q1 25 | $-8.2M | $-38.5M | ||
| Q4 24 | $1.1M | $-12.8M | ||
| Q3 24 | $41.8M | $-15.3M | ||
| Q2 24 | $70.7M | $-15.1M |
毛利率HCCNET
| Q1 26 | 36.7% | — | ||
| Q4 25 | 29.5% | 73.6% | ||
| Q3 25 | 27.1% | 74.0% | ||
| Q2 25 | 23.9% | 74.9% | ||
| Q1 25 | 18.1% | 75.9% | ||
| Q4 24 | 23.1% | 76.4% | ||
| Q3 24 | 29.3% | 77.7% | ||
| Q2 24 | 34.1% | 77.8% |
营业利润率HCCNET
| Q1 26 | 17.3% | — | ||
| Q4 25 | 9.0% | -8.0% | ||
| Q3 25 | 6.3% | -6.7% | ||
| Q2 25 | 2.6% | -13.1% | ||
| Q1 25 | -5.8% | -11.1% | ||
| Q4 24 | -1.4% | -7.5% | ||
| Q3 24 | 11.9% | -7.2% | ||
| Q2 24 | 17.9% | -8.7% |
净利率HCCNET
| Q1 26 | 15.8% | — | ||
| Q4 25 | 6.0% | -2.0% | ||
| Q3 25 | 11.1% | -0.2% | ||
| Q2 25 | 1.9% | -9.8% | ||
| Q1 25 | -2.7% | -8.0% | ||
| Q4 24 | 0.4% | -2.8% | ||
| Q3 24 | 12.7% | -3.6% | ||
| Q2 24 | 17.8% | -3.8% |
每股收益（稀释后）HCCNET
| Q1 26 | $1.37 | — | ||
| Q4 25 | $0.43 | $-0.03 | ||
| Q3 25 | $0.70 | $0.00 | ||
| Q2 25 | $0.11 | $-0.15 | ||
| Q1 25 | $-0.16 | $-0.11 | ||
| Q4 24 | $0.02 | $-0.05 | ||
| Q3 24 | $0.80 | $-0.04 | ||
| Q2 24 | $1.35 | $-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 | $233.2M | $943.5M |
| 总债务越低越好 | $154.4M | — |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | $2.8B | $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HCCNET
| Q1 26 | $233.2M | — | ||
| Q4 25 | $300.0M | $943.5M | ||
| Q3 25 | $336.3M | $1.1B | ||
| Q2 25 | $383.3M | $1.5B | ||
| Q1 25 | $454.9M | $204.5M | ||
| Q4 24 | $491.5M | $147.7M | ||
| Q3 24 | $583.2M | $182.9M | ||
| Q2 24 | $709.0M | $157.0M |
总债务HCCNET
| Q1 26 | $154.4M | — | ||
| Q4 25 | $154.3M | — | ||
| Q3 25 | $154.1M | — | ||
| Q2 25 | $153.9M | — | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $153.6M | — | ||
| Q3 24 | $153.5M | — | ||
| Q2 24 | $153.3M | — |
股东权益HCCNET
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $1.5B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.1B | $1.0B | ||
| Q3 24 | $2.1B | $973.1M | ||
| Q2 24 | $2.0B | $881.5M |
总资产HCCNET
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $6.0B | ||
| Q3 25 | $2.7B | $5.8B | ||
| Q2 25 | $2.6B | $5.6B | ||
| Q1 25 | $2.6B | $3.7B | ||
| Q4 24 | $2.6B | $3.3B | ||
| Q3 24 | $2.6B | $3.1B | ||
| Q2 24 | $2.6B | $2.9B |
负债/权益比HCCNET
| Q1 26 | — | — | ||
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.07× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.07× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 0.07× | — |
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HCCNET
| Q1 26 | — | — | ||
| Q4 25 | $76.1M | $190.4M | ||
| Q3 25 | $104.7M | $167.1M | ||
| Q2 25 | $37.5M | $99.8M | ||
| Q1 25 | $10.9M | $145.8M | ||
| Q4 24 | $54.2M | $127.3M | ||
| Q3 24 | $62.2M | $104.7M | ||
| Q2 24 | $147.0M | $74.8M |
自由现金流HCCNET
| 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HCCNET
| 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HCCNET
| 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HCCNET
| Q1 26 | — | — | ||
| Q4 25 | 3.31× | — | ||
| Q3 25 | 2.86× | — | ||
| Q2 25 | 6.70× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 47.68× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 2.08× | — |
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
HCC
| Sales | $448.5M | 98% |
| Other revenues | $10.1M | 2% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
