vs
HECLA MINING CO（HL）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HECLA MINING CO的1.4倍（$614.5M vs $448.1M），HECLA MINING CO净利率更高（30.0% vs -2.0%，领先32.0%），HECLA MINING CO同比增速更快（79.5% vs 33.6%），HECLA MINING CO自由现金流更多（$134.7M vs $105.2M），过去两年HECLA MINING CO的营收复合增速更高（53.8% vs 27.4%）
赫克拉矿业是总部位于美国的金属开采企业，主营银、金、铅、锌等矿产开发，矿区主要分布于北美地区，产品供应珠宝、工业制造、新能源供应链等领域，是美国头部原生银生产商之一。
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。
HL vs NET — 直观对比
营收规模更大
NET
是对方的1.4倍
$448.1M
营收增速更快
HL
高出45.9%
33.6%
净利率更高
HL
高出32.0%
-2.0%
自由现金流更多
HL
多$29.5M
$105.2M
两年增速更快
HL
近两年复合增速
27.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $448.1M | $614.5M |
| 净利润 | $134.4M | $-12.1M |
| 毛利率 | 55.4% | 73.6% |
| 营业利润率 | 49.1% | -8.0% |
| 净利率 | 30.0% | -2.0% |
| 营收同比 | 79.5% | 33.6% |
| 净利润同比 | 1027.2% | 6.0% |
| 每股收益（稀释后） | $0.20 | $-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HLNET
| Q4 25 | $448.1M | $614.5M | ||
| Q3 25 | $409.5M | $562.0M | ||
| Q2 25 | $304.0M | $512.3M | ||
| Q1 25 | $261.3M | $479.1M | ||
| Q4 24 | $249.7M | $459.9M | ||
| Q3 24 | $245.1M | $430.1M | ||
| Q2 24 | $245.7M | $401.0M | ||
| Q1 24 | $189.5M | $378.6M |
净利润HLNET
| Q4 25 | $134.4M | $-12.1M | ||
| Q3 25 | $100.7M | $-1.3M | ||
| Q2 25 | $57.7M | $-50.4M | ||
| Q1 25 | $28.9M | $-38.5M | ||
| Q4 24 | $11.9M | $-12.8M | ||
| Q3 24 | $1.8M | $-15.3M | ||
| Q2 24 | $27.9M | $-15.1M | ||
| Q1 24 | $-5.8M | $-35.5M |
毛利率HLNET
| Q4 25 | 55.4% | 73.6% | ||
| Q3 25 | 44.1% | 74.0% | ||
| Q2 25 | 39.3% | 74.9% | ||
| Q1 25 | 28.3% | 75.9% | ||
| Q4 24 | 27.4% | 76.4% | ||
| Q3 24 | 24.2% | 77.7% | ||
| Q2 24 | 20.9% | 77.8% | ||
| Q1 24 | 10.1% | 77.5% |
营业利润率HLNET
| Q4 25 | 49.1% | -8.0% | ||
| Q3 25 | 36.3% | -6.7% | ||
| Q2 25 | 30.8% | -13.1% | ||
| Q1 25 | 20.0% | -11.1% | ||
| Q4 24 | 15.3% | -7.5% | ||
| Q3 24 | 9.2% | -7.2% | ||
| Q2 24 | 16.5% | -8.7% | ||
| Q1 24 | 2.7% | -14.4% |
净利率HLNET
| Q4 25 | 30.0% | -2.0% | ||
| Q3 25 | 24.6% | -0.2% | ||
| Q2 25 | 19.0% | -9.8% | ||
| Q1 25 | 11.0% | -8.0% | ||
| Q4 24 | 4.8% | -2.8% | ||
| Q3 24 | 0.7% | -3.6% | ||
| Q2 24 | 11.3% | -3.8% | ||
| Q1 24 | -3.0% | -9.4% |
每股收益（稀释后）HLNET
| Q4 25 | $0.20 | $-0.03 | ||
| Q3 25 | $0.15 | $0.00 | ||
| Q2 25 | $0.09 | $-0.15 | ||
| Q1 25 | $0.05 | $-0.11 | ||
| Q4 24 | $0.03 | $-0.05 | ||
| Q3 24 | $0.00 | $-0.04 | ||
| Q2 24 | $0.04 | $-0.04 | ||
| Q1 24 | $-0.01 | $-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 | $301.2M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $1.5B |
| 总资产 | $3.6B | $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HLNET
| Q4 25 | $301.2M | $943.5M | ||
| Q3 25 | $133.9M | $1.1B | ||
| Q2 25 | $296.6M | $1.5B | ||
| Q1 25 | $23.7M | $204.5M | ||
| Q4 24 | $26.9M | $147.7M | ||
| Q3 24 | $22.3M | $182.9M | ||
| Q2 24 | $24.6M | $157.0M | ||
| Q1 24 | $80.2M | $254.4M |
股东权益HLNET
| Q4 25 | $2.6B | $1.5B | ||
| Q3 25 | $2.4B | $1.3B | ||
| Q2 25 | $2.3B | $1.2B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.0B | $1.0B | ||
| Q3 24 | $2.0B | $973.1M | ||
| Q2 24 | $2.0B | $881.5M | ||
| Q1 24 | $2.0B | $797.2M |
总资产HLNET
| Q4 25 | $3.6B | $6.0B | ||
| Q3 25 | $3.2B | $5.8B | ||
| Q2 25 | $3.3B | $5.6B | ||
| Q1 25 | $3.0B | $3.7B | ||
| Q4 24 | $3.0B | $3.3B | ||
| Q3 24 | $3.0B | $3.1B | ||
| Q2 24 | $2.9B | $2.9B | ||
| Q1 24 | $3.0B | $2.8B |
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 | $217.1M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $134.7M | $105.2M |
| 自由现金流率自由现金流/营收 | 30.1% | 17.1% |
| 资本支出强度资本支出/营收 | 18.4% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.61× | — |
| 过去12个月自由现金流最近4个季度 | $310.2M | $287.5M |
8季度趋势，按日历期对齐
经营现金流HLNET
| Q4 25 | $217.1M | $190.4M | ||
| Q3 25 | $148.0M | $167.1M | ||
| Q2 25 | $161.8M | $99.8M | ||
| Q1 25 | $35.7M | $145.8M | ||
| Q4 24 | $67.5M | $127.3M | ||
| Q3 24 | $55.0M | $104.7M | ||
| Q2 24 | $78.7M | $74.8M | ||
| Q1 24 | $17.1M | $73.6M |
自由现金流HLNET
| Q4 25 | $134.7M | $105.2M | ||
| Q3 25 | $90.1M | $82.5M | ||
| Q2 25 | $103.8M | $39.9M | ||
| Q1 25 | $-18.4M | $59.9M | ||
| Q4 24 | $6.7M | $54.2M | ||
| Q3 24 | $-690.0K | $54.5M | ||
| Q2 24 | $28.3M | $45.2M | ||
| Q1 24 | $-30.5M | $41.5M |
自由现金流率HLNET
| Q4 25 | 30.1% | 17.1% | ||
| Q3 25 | 22.0% | 14.7% | ||
| Q2 25 | 34.1% | 7.8% | ||
| Q1 25 | -7.0% | 12.5% | ||
| Q4 24 | 2.7% | 11.8% | ||
| Q3 24 | -0.3% | 12.7% | ||
| Q2 24 | 11.5% | 11.3% | ||
| Q1 24 | -16.1% | 11.0% |
资本支出强度HLNET
| Q4 25 | 18.4% | 13.9% | ||
| Q3 25 | 14.1% | 15.1% | ||
| Q2 25 | 19.1% | 11.7% | ||
| Q1 25 | 20.7% | 17.9% | ||
| Q4 24 | 24.3% | 15.9% | ||
| Q3 24 | 22.7% | 11.7% | ||
| Q2 24 | 20.5% | 7.4% | ||
| Q1 24 | 25.1% | 8.5% |
现金转化率HLNET
| Q4 25 | 1.61× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 2.80× | — | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 5.66× | — | ||
| Q3 24 | 31.24× | — | ||
| Q2 24 | 2.82× | — | ||
| Q1 24 | — | — |
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
HL
| Silver Contracts | $258.5M | 58% |
| Gold | $129.2M | 29% |
| Zinc | $30.3M | 7% |
| Lead | $23.3M | 5% |
| Environmental Remediation Services | $9.2M | 2% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
