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Hillman Solutions Corp.（HLMN）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Hillman Solutions Corp.的1.7倍（$614.5M vs $370.1M），Hillman Solutions Corp.净利率更高（-1.3% vs -2.0%，领先0.7%），Cloudflare, Inc.同比增速更快（33.6% vs 3.0%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-34.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -1.2%）
Hillman Solutions是一家美国企业，核心业务涵盖五金产品制造、分销以及面向消费者的定制加工服务，为市场提供多元化的五金相关解决方案，服务覆盖产业链多个环节。
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。
HLMN vs NET — 直观对比
营收规模更大
NET
是对方的1.7倍
$370.1M
营收增速更快
NET
高出30.6%
3.0%
净利率更高
HLMN
高出0.7%
-2.0%
自由现金流更多
NET
多$139.6M
$-34.3M
两年增速更快
NET
近两年复合增速
-1.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $370.1M | $614.5M |
| 净利润 | $-4.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 1.9% | -8.0% |
| 净利率 | -1.3% | -2.0% |
| 营收同比 | 3.0% | 33.6% |
| 净利润同比 | — | 6.0% |
| 每股收益（稀释后） | $-0.02 | $-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HLMNNET
| Q1 26 | $370.1M | — | ||
| Q4 25 | $365.1M | $614.5M | ||
| Q3 25 | $424.9M | $562.0M | ||
| Q2 25 | $402.8M | $512.3M | ||
| Q1 25 | $359.3M | $479.1M | ||
| Q4 24 | $349.6M | $459.9M | ||
| Q3 24 | $393.3M | $430.1M | ||
| Q2 24 | $379.4M | $401.0M |
净利润HLMNNET
| Q1 26 | $-4.7M | — | ||
| Q4 25 | $1.6M | $-12.1M | ||
| Q3 25 | $23.2M | $-1.3M | ||
| Q2 25 | $15.8M | $-50.4M | ||
| Q1 25 | $-317.0K | $-38.5M | ||
| Q4 24 | $-1.2M | $-12.8M | ||
| Q3 24 | $7.4M | $-15.3M | ||
| Q2 24 | $12.5M | $-15.1M |
毛利率HLMNNET
| 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HLMNNET
| Q1 26 | 1.9% | — | ||
| Q4 25 | 4.6% | -8.0% | ||
| Q3 25 | 10.8% | -6.7% | ||
| Q2 25 | 9.0% | -13.1% | ||
| Q1 25 | 4.2% | -11.1% | ||
| Q4 24 | 4.0% | -7.5% | ||
| Q3 24 | 6.8% | -7.2% | ||
| Q2 24 | 8.3% | -8.7% |
净利率HLMNNET
| Q1 26 | -1.3% | — | ||
| Q4 25 | 0.4% | -2.0% | ||
| Q3 25 | 5.5% | -0.2% | ||
| Q2 25 | 3.9% | -9.8% | ||
| Q1 25 | -0.1% | -8.0% | ||
| Q4 24 | -0.3% | -2.8% | ||
| Q3 24 | 1.9% | -3.6% | ||
| Q2 24 | 3.3% | -3.8% |
每股收益（稀释后）HLMNNET
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.00 | $-0.03 | ||
| Q3 25 | $0.12 | $0.00 | ||
| Q2 25 | $0.08 | $-0.15 | ||
| Q1 25 | $0.00 | $-0.11 | ||
| Q4 24 | $-0.00 | $-0.05 | ||
| Q3 24 | $0.04 | $-0.04 | ||
| Q2 24 | $0.06 | $-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 | $27.7M | $943.5M |
| 总债务越低越好 | $714.1M | — |
| 股东权益账面价值 | $1.2B | $1.5B |
| 总资产 | $2.4B | $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HLMNNET
| Q1 26 | $27.7M | — | ||
| Q4 25 | $27.3M | $943.5M | ||
| Q3 25 | $37.7M | $1.1B | ||
| Q2 25 | $34.2M | $1.5B | ||
| Q1 25 | $36.3M | $204.5M | ||
| Q4 24 | $44.5M | $147.7M | ||
| Q3 24 | $59.8M | $182.9M | ||
| Q2 24 | $54.0M | $157.0M |
总债务HLMNNET
| Q1 26 | $714.1M | — | ||
| Q4 25 | $668.3M | — | ||
| Q3 25 | $683.2M | — | ||
| Q2 25 | $683.1M | — | ||
| Q1 25 | $713.5M | — | ||
| Q4 24 | $691.7M | — | ||
| Q3 24 | $730.7M | — | ||
| Q2 24 | $732.1M | — |
股东权益HLMNNET
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.2B | $973.1M | ||
| Q2 24 | $1.2B | $881.5M |
总资产HLMNNET
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $6.0B | ||
| Q3 25 | $2.4B | $5.8B | ||
| Q2 25 | $2.4B | $5.6B | ||
| Q1 25 | $2.3B | $3.7B | ||
| Q4 24 | $2.3B | $3.3B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.4B | $2.9B |
负债/权益比HLMNNET
| Q1 26 | 0.59× | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.60× | — | ||
| Q4 24 | 0.59× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — |
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 | $-34.3M | $105.2M |
| 自由现金流率自由现金流/营收 | -9.3% | 17.1% |
| 资本支出强度资本支出/营收 | 4.0% | 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 | $22.1M | $287.5M |
8季度趋势，按日历期对齐
经营现金流HLMNNET
| Q1 26 | — | — | ||
| Q4 25 | $30.9M | $190.4M | ||
| Q3 25 | $26.2M | $167.1M | ||
| Q2 25 | $48.7M | $99.8M | ||
| Q1 25 | $-655.0K | $145.8M | ||
| Q4 24 | $43.1M | $127.3M | ||
| Q3 24 | $63.7M | $104.7M | ||
| Q2 24 | $64.8M | $74.8M |
自由现金流HLMNNET
| Q1 26 | $-34.3M | — | ||
| Q4 25 | $16.1M | $105.2M | ||
| Q3 25 | $9.1M | $82.5M | ||
| Q2 25 | $31.2M | $39.9M | ||
| Q1 25 | $-21.3M | $59.9M | ||
| Q4 24 | $22.1M | $54.2M | ||
| Q3 24 | $39.6M | $54.5M | ||
| Q2 24 | $42.5M | $45.2M |
自由现金流率HLMNNET
| Q1 26 | -9.3% | — | ||
| Q4 25 | 4.4% | 17.1% | ||
| Q3 25 | 2.1% | 14.7% | ||
| Q2 25 | 7.7% | 7.8% | ||
| Q1 25 | -5.9% | 12.5% | ||
| Q4 24 | 6.3% | 11.8% | ||
| Q3 24 | 10.1% | 12.7% | ||
| Q2 24 | 11.2% | 11.3% |
资本支出强度HLMNNET
| Q1 26 | 4.0% | — | ||
| Q4 25 | 4.0% | 13.9% | ||
| Q3 25 | 4.0% | 15.1% | ||
| Q2 25 | 4.3% | 11.7% | ||
| Q1 25 | 5.7% | 17.9% | ||
| Q4 24 | 6.0% | 15.9% | ||
| Q3 24 | 6.1% | 11.7% | ||
| Q2 24 | 5.9% | 7.4% |
现金转化率HLMNNET
| Q1 26 | — | — | ||
| Q4 25 | 19.33× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 3.08× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.57× | — | ||
| Q2 24 | 5.17× | — |
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
HLMN
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
