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Helmerich & Payne, Inc.（HP）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Helmerich & Payne, Inc.的季度营收约是Cloudflare, Inc.的1.6倍（$981.1M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -9.9%，领先7.9%），Helmerich & Payne, Inc.同比增速更快（45.4% vs 33.6%），Helmerich & Payne, Inc.自由现金流更多（$114.9M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 19.7%）
Helmerich & Payne（简称H&P）是总部位于美国俄克拉荷马州塔尔萨的跨国石油钻探承包商，为油气勘探开发企业提供钻井及相关配套服务。公司1998年推出的FlexRigs系列钻井平台广泛应用于非常规页岩地层钻探作业，是全球最大的陆上钻探服务商之一。
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。
HP vs NET — 直观对比
营收规模更大
HP
是对方的1.6倍
$614.5M
营收增速更快
HP
高出11.8%
33.6%
净利率更高
NET
高出7.9%
-9.9%
自由现金流更多
HP
多$9.6M
$105.2M
两年增速更快
NET
近两年复合增速
19.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $981.1M | $614.5M |
| 净利润 | $-96.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | -6.1% | -8.0% |
| 净利率 | -9.9% | -2.0% |
| 营收同比 | 45.4% | 33.6% |
| 净利润同比 | -276.6% | 6.0% |
| 每股收益（稀释后） | $-0.98 | $-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HPNET
| Q4 25 | $981.1M | $614.5M | ||
| Q3 25 | $953.8M | $562.0M | ||
| Q2 25 | $1.0B | $512.3M | ||
| Q1 25 | $1.0B | $479.1M | ||
| Q4 24 | $674.6M | $459.9M | ||
| Q3 24 | $691.3M | $430.1M | ||
| Q2 24 | $695.1M | $401.0M | ||
| Q1 24 | $685.1M | $378.6M |
净利润HPNET
| Q4 25 | $-96.7M | $-12.1M | ||
| Q3 25 | $-57.4M | $-1.3M | ||
| Q2 25 | $-162.8M | $-50.4M | ||
| Q1 25 | $1.7M | $-38.5M | ||
| Q4 24 | $54.8M | $-12.8M | ||
| Q3 24 | $75.5M | $-15.3M | ||
| Q2 24 | $88.7M | $-15.1M | ||
| Q1 24 | $84.8M | $-35.5M |
毛利率HPNET
| 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HPNET
| Q4 25 | -6.1% | -8.0% | ||
| Q3 25 | -0.1% | -6.7% | ||
| Q2 25 | -12.4% | -13.1% | ||
| Q1 25 | 4.2% | -11.1% | ||
| Q4 24 | 13.3% | -7.5% | ||
| Q3 24 | 15.4% | -7.2% | ||
| Q2 24 | 16.0% | -8.7% | ||
| Q1 24 | 16.1% | -14.4% |
净利率HPNET
| Q4 25 | -9.9% | -2.0% | ||
| Q3 25 | -6.0% | -0.2% | ||
| Q2 25 | -15.7% | -9.8% | ||
| Q1 25 | 0.2% | -8.0% | ||
| Q4 24 | 8.1% | -2.8% | ||
| Q3 24 | 10.9% | -3.6% | ||
| Q2 24 | 12.8% | -3.8% | ||
| Q1 24 | 12.4% | -9.4% |
每股收益（稀释后）HPNET
| Q4 25 | $-0.98 | $-0.03 | ||
| Q3 25 | $-0.57 | $0.00 | ||
| Q2 25 | $-1.64 | $-0.15 | ||
| Q1 25 | $0.01 | $-0.11 | ||
| Q4 24 | $0.54 | $-0.05 | ||
| Q3 24 | $0.77 | $-0.04 | ||
| Q2 24 | $0.88 | $-0.04 | ||
| Q1 24 | $0.84 | $-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 | $269.0M | $943.5M |
| 总债务越低越好 | $2.0B | — |
| 股东权益账面价值 | $2.7B | $1.5B |
| 总资产 | $6.5B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.75× | — |
8季度趋势，按日历期对齐
现金及短期投资HPNET
| Q4 25 | $269.0M | $943.5M | ||
| Q3 25 | $218.3M | $1.1B | ||
| Q2 25 | $187.4M | $1.5B | ||
| Q1 25 | $195.6M | $204.5M | ||
| Q4 24 | $526.5M | $147.7M | ||
| Q3 24 | $510.3M | $182.9M | ||
| Q2 24 | $289.7M | $157.0M | ||
| Q1 24 | $277.0M | $254.4M |
总债务HPNET
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HPNET
| Q4 25 | $2.7B | $1.5B | ||
| Q3 25 | $2.8B | $1.3B | ||
| Q2 25 | $2.9B | $1.2B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $2.9B | $1.0B | ||
| Q3 24 | $2.9B | $973.1M | ||
| Q2 24 | $2.9B | $881.5M | ||
| Q1 24 | $2.8B | $797.2M |
总资产HPNET
| Q4 25 | $6.5B | $6.0B | ||
| Q3 25 | $6.7B | $5.8B | ||
| Q2 25 | $6.9B | $5.6B | ||
| Q1 25 | $7.2B | $3.7B | ||
| Q4 24 | $5.8B | $3.3B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $4.5B | $2.9B | ||
| Q1 24 | $4.4B | $2.8B |
负债/权益比HPNET
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.76× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.61× | — | ||
| 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 | $182.4M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $114.9M | $105.2M |
| 自由现金流率自由现金流/营收 | 11.7% | 17.1% |
| 资本支出强度资本支出/营收 | 6.9% | 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 | $179.6M | $287.5M |
8季度趋势，按日历期对齐
经营现金流HPNET
| Q4 25 | $182.4M | $190.4M | ||
| Q3 25 | $206.9M | $167.1M | ||
| Q2 25 | $121.6M | $99.8M | ||
| Q1 25 | $56.0M | $145.8M | ||
| Q4 24 | $158.4M | $127.3M | ||
| Q3 24 | $168.8M | $104.7M | ||
| Q2 24 | $197.4M | $74.8M | ||
| Q1 24 | $143.7M | $73.6M |
自由现金流HPNET
| Q4 25 | $114.9M | $105.2M | ||
| Q3 25 | $142.8M | $82.5M | ||
| Q2 25 | $24.6M | $39.9M | ||
| Q1 25 | $-102.7M | $59.9M | ||
| Q4 24 | $51.9M | $54.2M | ||
| Q3 24 | $62.8M | $54.5M | ||
| Q2 24 | $63.0M | $45.2M | ||
| Q1 24 | $25.4M | $41.5M |
自由现金流率HPNET
| Q4 25 | 11.7% | 17.1% | ||
| Q3 25 | 15.0% | 14.7% | ||
| Q2 25 | 2.4% | 7.8% | ||
| Q1 25 | -10.1% | 12.5% | ||
| Q4 24 | 7.7% | 11.8% | ||
| Q3 24 | 9.1% | 12.7% | ||
| Q2 24 | 9.1% | 11.3% | ||
| Q1 24 | 3.7% | 11.0% |
资本支出强度HPNET
| Q4 25 | 6.9% | 13.9% | ||
| Q3 25 | 6.7% | 15.1% | ||
| Q2 25 | 9.3% | 11.7% | ||
| Q1 25 | 15.7% | 17.9% | ||
| Q4 24 | 15.8% | 15.9% | ||
| Q3 24 | 15.3% | 11.7% | ||
| Q2 24 | 19.3% | 7.4% | ||
| Q1 24 | 17.3% | 8.5% |
现金转化率HPNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 33.89× | — | ||
| Q4 24 | 2.89× | — | ||
| Q3 24 | 2.24× | — | ||
| Q2 24 | 2.23× | — | ||
| Q1 24 | 1.69× | — |
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
HP
| North America Solutions | $563.6M | 57% |
| International Solutions Segment | $229.3M | 23% |
| Offshore Solutions | $188.3M | 19% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
