vs
赫氏（HXL）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.的季度营收约是赫氏的1.2倍（$614.5M vs $501.5M），赫氏净利率更高（7.4% vs -2.0%，领先9.4%），Cloudflare, Inc.同比增速更快（33.6% vs 9.9%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 0.1%）
赫氏是总部位于美国康涅狄格州斯坦福德的上市工业材料企业，专注于结构材料的研发与生产，由加州增强塑料公司、汽巴复合材料业务、赫克力士复合材料产品部门合并组建。其产品覆盖商用、军工、休闲等市场，广泛应用于军民飞机、航天运载火箭、卫星、风电叶片、运动器材等领域。
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。
HXL vs NET — 直观对比
营收规模更大
NET
是对方的1.2倍
$501.5M
营收增速更快
NET
高出23.7%
9.9%
净利率更高
HXL
高出9.4%
-2.0%
两年增速更快
NET
近两年复合增速
0.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $501.5M | $614.5M |
| 净利润 | $37.2M | $-12.1M |
| 毛利率 | 26.9% | 73.6% |
| 营业利润率 | 11.5% | -8.0% |
| 净利率 | 7.4% | -2.0% |
| 营收同比 | 9.9% | 33.6% |
| 净利润同比 | 28.7% | 6.0% |
| 每股收益（稀释后） | $0.49 | $-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HXLNET
| Q1 26 | $501.5M | — | ||
| Q4 25 | $491.3M | $614.5M | ||
| Q3 25 | $456.2M | $562.0M | ||
| Q2 25 | $489.9M | $512.3M | ||
| Q1 25 | $456.5M | $479.1M | ||
| Q4 24 | $473.8M | $459.9M | ||
| Q3 24 | $456.5M | $430.1M | ||
| Q2 24 | $500.4M | $401.0M |
净利润HXLNET
| Q1 26 | $37.2M | — | ||
| Q4 25 | $46.4M | $-12.1M | ||
| Q3 25 | $20.6M | $-1.3M | ||
| Q2 25 | $13.5M | $-50.4M | ||
| Q1 25 | $28.9M | $-38.5M | ||
| Q4 24 | $5.8M | $-12.8M | ||
| Q3 24 | $39.8M | $-15.3M | ||
| Q2 24 | $50.0M | $-15.1M |
毛利率HXLNET
| Q1 26 | 26.9% | — | ||
| Q4 25 | 24.6% | 73.6% | ||
| Q3 25 | 21.9% | 74.0% | ||
| Q2 25 | 22.8% | 74.9% | ||
| Q1 25 | 22.4% | 75.9% | ||
| Q4 24 | 25.0% | 76.4% | ||
| Q3 24 | 23.3% | 77.7% | ||
| Q2 24 | 25.3% | 77.8% |
营业利润率HXLNET
| Q1 26 | 11.5% | — | ||
| Q4 25 | 12.5% | -8.0% | ||
| Q3 25 | 7.9% | -6.7% | ||
| Q2 25 | 6.1% | -13.1% | ||
| Q1 25 | 9.7% | -11.1% | ||
| Q4 24 | 1.9% | -7.5% | ||
| Q3 24 | 11.5% | -7.2% | ||
| Q2 24 | 14.3% | -8.7% |
净利率HXLNET
| Q1 26 | 7.4% | — | ||
| Q4 25 | 9.4% | -2.0% | ||
| Q3 25 | 4.5% | -0.2% | ||
| Q2 25 | 2.8% | -9.8% | ||
| Q1 25 | 6.3% | -8.0% | ||
| Q4 24 | 1.2% | -2.8% | ||
| Q3 24 | 8.7% | -3.6% | ||
| Q2 24 | 10.0% | -3.8% |
每股收益（稀释后）HXLNET
| Q1 26 | $0.49 | — | ||
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-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 | $54.1M | $943.5M |
| 总债务越低越好 | $998.1M | — |
| 股东权益账面价值 | $1.3B | $1.5B |
| 总资产 | $2.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.79× | — |
8季度趋势，按日历期对齐
现金及短期投资HXLNET
| Q1 26 | $54.1M | — | ||
| Q4 25 | $71.0M | $943.5M | ||
| Q3 25 | $90.5M | $1.1B | ||
| Q2 25 | $77.2M | $1.5B | ||
| Q1 25 | $89.2M | $204.5M | ||
| Q4 24 | $125.4M | $147.7M | ||
| Q3 24 | $98.2M | $182.9M | ||
| Q2 24 | $75.4M | $157.0M |
总债务HXLNET
| Q1 26 | $998.1M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益HXLNET
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.6B | $1.3B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.5B | $1.0B | ||
| Q3 24 | $1.6B | $973.1M | ||
| Q2 24 | $1.6B | $881.5M |
总资产HXLNET
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $6.0B | ||
| Q3 25 | $2.8B | $5.8B | ||
| Q2 25 | $2.8B | $5.6B | ||
| Q1 25 | $2.8B | $3.7B | ||
| Q4 24 | $2.7B | $3.3B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $2.8B | $2.9B |
负债/权益比HXLNET
| Q1 26 | 0.79× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $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 | 3.2% | 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HXLNET
| Q1 26 | — | — | ||
| Q4 25 | $125.5M | $190.4M | ||
| Q3 25 | $110.2M | $167.1M | ||
| Q2 25 | $23.3M | $99.8M | ||
| Q1 25 | $-28.5M | $145.8M | ||
| Q4 24 | $162.6M | $127.3M | ||
| Q3 24 | $90.1M | $104.7M | ||
| Q2 24 | $44.2M | $74.8M |
自由现金流HXLNET
| Q1 26 | — | — | ||
| Q4 25 | $107.3M | $105.2M | ||
| Q3 25 | $96.5M | $82.5M | ||
| Q2 25 | $8.0M | $39.9M | ||
| Q1 25 | $-54.6M | $59.9M | ||
| Q4 24 | $144.0M | $54.2M | ||
| Q3 24 | $73.3M | $54.5M | ||
| Q2 24 | $21.3M | $45.2M |
自由现金流率HXLNET
| Q1 26 | — | — | ||
| Q4 25 | 21.8% | 17.1% | ||
| Q3 25 | 21.2% | 14.7% | ||
| Q2 25 | 1.6% | 7.8% | ||
| Q1 25 | -12.0% | 12.5% | ||
| Q4 24 | 30.4% | 11.8% | ||
| Q3 24 | 16.1% | 12.7% | ||
| Q2 24 | 4.3% | 11.3% |
资本支出强度HXLNET
| Q1 26 | 3.2% | — | ||
| Q4 25 | 3.7% | 13.9% | ||
| Q3 25 | 3.0% | 15.1% | ||
| Q2 25 | 3.1% | 11.7% | ||
| Q1 25 | 5.7% | 17.9% | ||
| Q4 24 | 3.9% | 15.9% | ||
| Q3 24 | 3.7% | 11.7% | ||
| Q2 24 | 4.6% | 7.4% |
现金转化率HXLNET
| Q1 26 | — | — | ||
| Q4 25 | 2.70× | — | ||
| Q3 25 | 5.35× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | -0.99× | — | ||
| Q4 24 | 28.03× | — | ||
| Q3 24 | 2.26× | — | ||
| Q2 24 | 0.88× | — |
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
HXL
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
