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MARINEMAX INC（HZO）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MARINEMAX INC的1.2倍（$614.5M vs $527.4M），Cloudflare, Inc.同比增速更快（33.6% vs -16.5%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -16.6%）
MarineMax Inc.是美国头部休闲船舶及游艇零售商，主营全新及二手休闲船艇销售，同时提供船舶维保、金融服务、保险、游艇租赁及航海主题活动等配套服务，覆盖北美市场的私人航海爱好者群体。
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。
HZO vs NET — 直观对比
营收规模更大
NET
是对方的1.2倍
$527.4M
营收增速更快
NET
高出50.1%
-16.5%
两年增速更快
NET
近两年复合增速
-16.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $527.4M | $614.5M |
| 净利润 | — | $-12.1M |
| 毛利率 | 34.4% | 73.6% |
| 营业利润率 | 2.1% | -8.0% |
| 净利率 | — | -2.0% |
| 营收同比 | -16.5% | 33.6% |
| 净利润同比 | — | 6.0% |
| 每股收益（稀释后） | $0.14 | $-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HZONET
| Q1 26 | $527.4M | — | ||
| Q4 25 | $505.2M | $614.5M | ||
| Q3 25 | $552.2M | $562.0M | ||
| Q2 25 | $657.2M | $512.3M | ||
| Q1 25 | $631.5M | $479.1M | ||
| Q4 24 | $468.5M | $459.9M | ||
| Q3 24 | $563.1M | $430.1M | ||
| Q2 24 | $757.7M | $401.0M |
净利润HZONET
| Q1 26 | — | — | ||
| Q4 25 | $-7.9M | $-12.1M | ||
| Q3 25 | $-851.0K | $-1.3M | ||
| Q2 25 | $-52.1M | $-50.4M | ||
| Q1 25 | $3.3M | $-38.5M | ||
| Q4 24 | $18.1M | $-12.8M | ||
| Q3 24 | $4.0M | $-15.3M | ||
| Q2 24 | $31.6M | $-15.1M |
毛利率HZONET
| Q1 26 | 34.4% | — | ||
| Q4 25 | 31.8% | 73.6% | ||
| Q3 25 | 34.7% | 74.0% | ||
| Q2 25 | 30.4% | 74.9% | ||
| Q1 25 | 30.0% | 75.9% | ||
| Q4 24 | 36.2% | 76.4% | ||
| Q3 24 | 34.3% | 77.7% | ||
| Q2 24 | 32.0% | 77.8% |
营业利润率HZONET
| Q1 26 | 2.1% | — | ||
| Q4 25 | 1.0% | -8.0% | ||
| Q3 25 | 2.5% | -6.7% | ||
| Q2 25 | -6.3% | -13.1% | ||
| Q1 25 | 3.6% | -11.1% | ||
| Q4 24 | 8.3% | -7.5% | ||
| Q3 24 | 4.8% | -7.2% | ||
| Q2 24 | 8.1% | -8.7% |
净利率HZONET
| Q1 26 | — | — | ||
| Q4 25 | -1.6% | -2.0% | ||
| Q3 25 | -0.2% | -0.2% | ||
| Q2 25 | -7.9% | -9.8% | ||
| Q1 25 | 0.5% | -8.0% | ||
| Q4 24 | 3.9% | -2.8% | ||
| Q3 24 | 0.7% | -3.6% | ||
| Q2 24 | 4.2% | -3.8% |
每股收益（稀释后）HZONET
| Q1 26 | $0.14 | — | ||
| Q4 25 | $-0.36 | $-0.03 | ||
| Q3 25 | $0.08 | $0.00 | ||
| Q2 25 | $-2.42 | $-0.15 | ||
| Q1 25 | $0.14 | $-0.11 | ||
| Q4 24 | $0.77 | $-0.05 | ||
| Q3 24 | $0.17 | $-0.04 | ||
| Q2 24 | $1.37 | $-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 | $189.1M | $943.5M |
| 总债务越低越好 | $338.7M | — |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | $2.4B | $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HZONET
| Q1 26 | $189.1M | — | ||
| Q4 25 | $164.6M | $943.5M | ||
| Q3 25 | $170.4M | $1.1B | ||
| Q2 25 | $151.0M | $1.5B | ||
| Q1 25 | $203.5M | $204.5M | ||
| Q4 24 | $145.0M | $147.7M | ||
| Q3 24 | $224.3M | $182.9M | ||
| Q2 24 | $242.4M | $157.0M |
总债务HZONET
| Q1 26 | $338.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $393.2M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $391.2M | — | ||
| Q2 24 | — | — |
股东权益HZONET
| Q1 26 | — | — | ||
| Q4 25 | $932.8M | $1.5B | ||
| Q3 25 | $937.2M | $1.3B | ||
| Q2 25 | $940.5M | $1.2B | ||
| Q1 25 | $993.4M | $1.4B | ||
| Q4 24 | $993.5M | $1.0B | ||
| Q3 24 | $975.8M | $973.1M | ||
| Q2 24 | $967.6M | $881.5M |
总资产HZONET
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $6.0B | ||
| Q3 25 | $2.5B | $5.8B | ||
| Q2 25 | $2.5B | $5.6B | ||
| Q1 25 | $2.7B | $3.7B | ||
| Q4 24 | $2.6B | $3.3B | ||
| Q3 24 | $2.6B | $3.1B | ||
| Q2 24 | $2.6B | $2.9B |
负债/权益比HZONET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.42× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.40× | — | ||
| 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 | — | 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HZONET
| Q1 26 | — | — | ||
| Q4 25 | $16.9M | $190.4M | ||
| Q3 25 | $61.5M | $167.1M | ||
| Q2 25 | $84.9M | $99.8M | ||
| Q1 25 | $72.5M | $145.8M | ||
| Q4 24 | $-146.1M | $127.3M | ||
| Q3 24 | $-782.0K | $104.7M | ||
| Q2 24 | $86.3M | $74.8M |
自由现金流HZONET
| Q1 26 | — | — | ||
| Q4 25 | $8.3M | $105.2M | ||
| Q3 25 | $48.0M | $82.5M | ||
| Q2 25 | $68.5M | $39.9M | ||
| Q1 25 | $59.8M | $59.9M | ||
| Q4 24 | $-164.4M | $54.2M | ||
| Q3 24 | $-17.5M | $54.5M | ||
| Q2 24 | $71.1M | $45.2M |
自由现金流率HZONET
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 17.1% | ||
| Q3 25 | 8.7% | 14.7% | ||
| Q2 25 | 10.4% | 7.8% | ||
| Q1 25 | 9.5% | 12.5% | ||
| Q4 24 | -35.1% | 11.8% | ||
| Q3 24 | -3.1% | 12.7% | ||
| Q2 24 | 9.4% | 11.3% |
资本支出强度HZONET
| Q1 26 | — | — | ||
| Q4 25 | 1.7% | 13.9% | ||
| Q3 25 | 2.4% | 15.1% | ||
| Q2 25 | 2.5% | 11.7% | ||
| Q1 25 | 2.0% | 17.9% | ||
| Q4 24 | 3.9% | 15.9% | ||
| Q3 24 | 3.0% | 11.7% | ||
| Q2 24 | 2.0% | 7.4% |
现金转化率HZONET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 21.97× | — | ||
| Q4 24 | -8.09× | — | ||
| Q3 24 | -0.20× | — | ||
| Q2 24 | 2.74× | — |
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
HZO
| Retail Operations | $525.3M | 100% |
| Product Manufacturing | $23.7M | 4% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
