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HOVNANIAN ENTERPRISES INC（HOV）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
HOVNANIAN ENTERPRISES INC的季度营收约是Cloudflare, Inc.的1.3倍（$817.9M vs $614.5M），HOVNANIAN ENTERPRISES INC净利率更高（-0.1% vs -2.0%，领先1.9%），Cloudflare, Inc.同比增速更快（33.6% vs -16.5%），HOVNANIAN ENTERPRISES INC自由现金流更多（$164.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 17.3%）
霍夫纳尼安企业是美国知名房地产企业，业务覆盖住宅开发全流程，包含设计、建造与销售，产品线丰富，不仅开发独立独栋住宅，也开发联排别墅、公寓以及养老住宅等高密度居住物业。
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。
HOV vs NET — 直观对比
营收规模更大
HOV
是对方的1.3倍
$614.5M
营收增速更快
NET
高出50.1%
-16.5%
净利率更高
HOV
高出1.9%
-2.0%
自由现金流更多
HOV
多$58.8M
$105.2M
两年增速更快
NET
近两年复合增速
17.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $817.9M | $614.5M |
| 净利润 | $-667.0K | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | -0.5% | -8.0% |
| 净利率 | -0.1% | -2.0% |
| 营收同比 | -16.5% | 33.6% |
| 净利润同比 | -100.7% | 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HOVNET
| Q4 25 | $817.9M | $614.5M | ||
| Q3 25 | $800.6M | $562.0M | ||
| Q2 25 | $686.5M | $512.3M | ||
| Q1 25 | $673.6M | $479.1M | ||
| Q4 24 | $979.6M | $459.9M | ||
| Q3 24 | $722.7M | $430.1M | ||
| Q2 24 | $708.4M | $401.0M | ||
| Q1 24 | $594.2M | $378.6M |
净利润HOVNET
| Q4 25 | $-667.0K | $-12.1M | ||
| Q3 25 | $16.6M | $-1.3M | ||
| Q2 25 | $19.7M | $-50.4M | ||
| Q1 25 | $28.2M | $-38.5M | ||
| Q4 24 | $94.3M | $-12.8M | ||
| Q3 24 | $72.9M | $-15.3M | ||
| Q2 24 | $50.8M | $-15.1M | ||
| Q1 24 | $23.9M | $-35.5M |
毛利率HOVNET
| 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% | ||
| Q1 24 | — | 77.5% |
营业利润率HOVNET
| Q4 25 | -0.5% | -8.0% | ||
| Q3 25 | 3.0% | -6.7% | ||
| Q2 25 | 3.9% | -13.1% | ||
| Q1 25 | 5.9% | -11.1% | ||
| Q4 24 | 12.0% | -7.5% | ||
| Q3 24 | 13.5% | -7.2% | ||
| Q2 24 | 9.8% | -8.7% | ||
| Q1 24 | 5.5% | -14.4% |
净利率HOVNET
| Q4 25 | -0.1% | -2.0% | ||
| Q3 25 | 2.1% | -0.2% | ||
| Q2 25 | 2.9% | -9.8% | ||
| Q1 25 | 4.2% | -8.0% | ||
| Q4 24 | 9.6% | -2.8% | ||
| Q3 24 | 10.1% | -3.6% | ||
| Q2 24 | 7.2% | -3.8% | ||
| Q1 24 | 4.0% | -9.4% |
每股收益（稀释后）HOVNET
| Q4 25 | $-0.57 | $-0.03 | ||
| Q3 25 | $1.99 | $0.00 | ||
| Q2 25 | $2.43 | $-0.15 | ||
| Q1 25 | $3.58 | $-0.11 | ||
| Q4 24 | $12.47 | $-0.05 | ||
| Q3 24 | $9.75 | $-0.04 | ||
| Q2 24 | $6.66 | $-0.04 | ||
| Q1 24 | $2.91 | $-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 | $900.7M | — |
| 股东权益账面价值 | $830.9M | $1.5B |
| 总资产 | $2.6B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.08× | — |
8季度趋势，按日历期对齐
现金及短期投资HOVNET
| 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HOVNET
| Q4 25 | $900.7M | — | ||
| Q3 25 | $861.9M | — | ||
| Q2 25 | $864.3M | — | ||
| Q1 25 | $893.7M | — | ||
| Q4 24 | $896.2M | — | ||
| Q3 24 | $898.7M | — | ||
| Q2 24 | $933.0M | — | ||
| Q1 24 | $934.6M | — |
股东权益HOVNET
| Q4 25 | $830.9M | $1.5B | ||
| Q3 25 | $835.4M | $1.3B | ||
| Q2 25 | $820.4M | $1.2B | ||
| Q1 25 | $811.4M | $1.4B | ||
| Q4 24 | $800.3M | $1.0B | ||
| Q3 24 | $703.4M | $973.1M | ||
| Q2 24 | $647.0M | $881.5M | ||
| Q1 24 | $607.1M | $797.2M |
总资产HOVNET
| Q4 25 | $2.6B | $6.0B | ||
| Q3 25 | $2.6B | $5.8B | ||
| Q2 25 | $2.6B | $5.6B | ||
| Q1 25 | $2.5B | $3.7B | ||
| Q4 24 | $2.6B | $3.3B | ||
| Q3 24 | $2.5B | $3.1B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.3B | $2.8B |
负债/权益比HOVNET
| Q4 25 | 1.08× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.05× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 1.44× | — | ||
| Q1 24 | 1.54× | — |
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 | $169.1M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $164.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 20.0% | 17.1% |
| 资本支出强度资本支出/营收 | 0.6% | 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 | $166.2M | $287.5M |
8季度趋势，按日历期对齐
经营现金流HOVNET
| Q4 25 | $169.1M | $190.4M | ||
| Q3 25 | $52.8M | $167.1M | ||
| Q2 25 | $22.3M | $99.8M | ||
| Q1 25 | $-55.9M | $145.8M | ||
| Q4 24 | $115.8M | $127.3M | ||
| Q3 24 | $-92.3M | $104.7M | ||
| Q2 24 | $89.1M | $74.8M | ||
| Q1 24 | $-89.0M | $73.6M |
自由现金流HOVNET
| Q4 25 | $164.0M | $105.2M | ||
| Q3 25 | $45.8M | $82.5M | ||
| Q2 25 | $16.0M | $39.9M | ||
| Q1 25 | $-59.6M | $59.9M | ||
| Q4 24 | $111.4M | $54.2M | ||
| Q3 24 | $-95.8M | $54.5M | ||
| Q2 24 | $84.7M | $45.2M | ||
| Q1 24 | $-94.4M | $41.5M |
自由现金流率HOVNET
| Q4 25 | 20.0% | 17.1% | ||
| Q3 25 | 5.7% | 14.7% | ||
| Q2 25 | 2.3% | 7.8% | ||
| Q1 25 | -8.8% | 12.5% | ||
| Q4 24 | 11.4% | 11.8% | ||
| Q3 24 | -13.3% | 12.7% | ||
| Q2 24 | 12.0% | 11.3% | ||
| Q1 24 | -15.9% | 11.0% |
资本支出强度HOVNET
| Q4 25 | 0.6% | 13.9% | ||
| Q3 25 | 0.9% | 15.1% | ||
| Q2 25 | 0.9% | 11.7% | ||
| Q1 25 | 0.5% | 17.9% | ||
| Q4 24 | 0.5% | 15.9% | ||
| Q3 24 | 0.5% | 11.7% | ||
| Q2 24 | 0.6% | 7.4% | ||
| Q1 24 | 0.9% | 8.5% |
现金转化率HOVNET
| Q4 25 | — | — | ||
| Q3 25 | 3.18× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | -1.98× | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | -1.27× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | -3.72× | — |
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
HOV
| Home Building | $789.8M | 97% |
| Financial Services | $28.1M | 3% |
| Management Fees | $7.1M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
