vs
IES Holdings, Inc.（IESC）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
IES Holdings, Inc.的季度营收约是Cloudflare, Inc.的1.4倍（$871.0M vs $614.5M），IES Holdings, Inc.净利率更高（10.5% vs -2.0%，领先12.5%），Cloudflare, Inc.同比增速更快（33.6% vs 16.2%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-18.9M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 11.1%）
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
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。
IESC vs NET — 直观对比
营收规模更大
IESC
是对方的1.4倍
$614.5M
营收增速更快
NET
高出17.4%
16.2%
净利率更高
IESC
高出12.5%
-2.0%
自由现金流更多
NET
多$124.1M
$-18.9M
两年增速更快
NET
近两年复合增速
11.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $871.0M | $614.5M |
| 净利润 | $91.8M | $-12.1M |
| 毛利率 | 25.3% | 73.6% |
| 营业利润率 | 11.2% | -8.0% |
| 净利率 | 10.5% | -2.0% |
| 营收同比 | 16.2% | 33.6% |
| 净利润同比 | 59.1% | 6.0% |
| 每股收益（稀释后） | $4.51 | $-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IESCNET
| Q4 25 | $871.0M | $614.5M | ||
| Q3 25 | $897.8M | $562.0M | ||
| Q2 25 | $890.2M | $512.3M | ||
| Q1 25 | $834.0M | $479.1M | ||
| Q4 24 | $749.5M | $459.9M | ||
| Q3 24 | $775.8M | $430.1M | ||
| Q2 24 | $768.4M | $401.0M | ||
| Q1 24 | $705.7M | $378.6M |
净利润IESCNET
| Q4 25 | $91.8M | $-12.1M | ||
| Q3 25 | $102.3M | $-1.3M | ||
| Q2 25 | $79.3M | $-50.4M | ||
| Q1 25 | $72.6M | $-38.5M | ||
| Q4 24 | $57.7M | $-12.8M | ||
| Q3 24 | $65.5M | $-15.3M | ||
| Q2 24 | $66.6M | $-15.1M | ||
| Q1 24 | $56.8M | $-35.5M |
毛利率IESCNET
| Q4 25 | 25.3% | 73.6% | ||
| Q3 25 | 26.0% | 74.0% | ||
| Q2 25 | 26.9% | 74.9% | ||
| Q1 25 | 25.0% | 75.9% | ||
| Q4 24 | 23.8% | 76.4% | ||
| Q3 24 | 24.0% | 77.7% | ||
| Q2 24 | 25.3% | 77.8% | ||
| Q1 24 | 24.3% | 77.5% |
营业利润率IESCNET
| Q4 25 | 11.2% | -8.0% | ||
| Q3 25 | 11.6% | -6.7% | ||
| Q2 25 | 12.6% | -13.1% | ||
| Q1 25 | 11.1% | -11.1% | ||
| Q4 24 | 10.0% | -7.5% | ||
| Q3 24 | 9.7% | -7.2% | ||
| Q2 24 | 11.7% | -8.7% | ||
| Q1 24 | 11.0% | -14.4% |
净利率IESCNET
| Q4 25 | 10.5% | -2.0% | ||
| Q3 25 | 11.4% | -0.2% | ||
| Q2 25 | 8.9% | -9.8% | ||
| Q1 25 | 8.7% | -8.0% | ||
| Q4 24 | 7.7% | -2.8% | ||
| Q3 24 | 8.4% | -3.6% | ||
| Q2 24 | 8.7% | -3.8% | ||
| Q1 24 | 8.0% | -9.4% |
每股收益（稀释后）IESCNET
| Q4 25 | $4.51 | $-0.03 | ||
| Q3 25 | $4.99 | $0.00 | ||
| Q2 25 | $3.81 | $-0.15 | ||
| Q1 25 | $3.50 | $-0.11 | ||
| Q4 24 | $2.72 | $-0.05 | ||
| Q3 24 | $3.06 | $-0.04 | ||
| Q2 24 | $2.67 | $-0.04 | ||
| Q1 24 | $2.29 | $-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 | $258.7M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $961.1M | $1.5B |
| 总资产 | $1.7B | $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IESCNET
| Q4 25 | $258.7M | $943.5M | ||
| Q3 25 | $231.8M | $1.1B | ||
| Q2 25 | $168.3M | $1.5B | ||
| Q1 25 | $88.3M | $204.5M | ||
| Q4 24 | $112.0M | $147.7M | ||
| Q3 24 | $135.8M | $182.9M | ||
| Q2 24 | $44.9M | $157.0M | ||
| Q1 24 | $106.0M | $254.4M |
股东权益IESCNET
| Q4 25 | $961.1M | $1.5B | ||
| Q3 25 | $884.0M | $1.3B | ||
| Q2 25 | $781.4M | $1.2B | ||
| Q1 25 | $705.8M | $1.4B | ||
| Q4 24 | $652.4M | $1.0B | ||
| Q3 24 | $611.1M | $973.1M | ||
| Q2 24 | $567.5M | $881.5M | ||
| Q1 24 | $534.8M | $797.2M |
总资产IESCNET
| Q4 25 | $1.7B | $6.0B | ||
| Q3 25 | $1.6B | $5.8B | ||
| Q2 25 | $1.5B | $5.6B | ||
| Q1 25 | $1.4B | $3.7B | ||
| Q4 24 | $1.3B | $3.3B | ||
| Q3 24 | $1.2B | $3.1B | ||
| Q2 24 | $1.2B | $2.9B | ||
| Q1 24 | $1.1B | $2.8B |
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 | $27.7M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-18.9M | $105.2M |
| 自由现金流率自由现金流/营收 | -2.2% | 17.1% |
| 资本支出强度资本支出/营收 | 5.3% | 13.9% |
| 现金转化率经营现金流/净利润 | 0.30× | — |
| 过去12个月自由现金流最近4个季度 | $175.9M | $287.5M |
8季度趋势，按日历期对齐
经营现金流IESCNET
| Q4 25 | $27.7M | $190.4M | ||
| Q3 25 | $132.0M | $167.1M | ||
| Q2 25 | $92.0M | $99.8M | ||
| Q1 25 | $24.8M | $145.8M | ||
| Q4 24 | $37.3M | $127.3M | ||
| Q3 24 | $92.8M | $104.7M | ||
| Q2 24 | $82.9M | $74.8M | ||
| Q1 24 | $33.7M | $73.6M |
自由现金流IESCNET
| Q4 25 | $-18.9M | $105.2M | ||
| Q3 25 | $112.0M | $82.5M | ||
| Q2 25 | $74.8M | $39.9M | ||
| Q1 25 | $7.9M | $59.9M | ||
| Q4 24 | $24.1M | $54.2M | ||
| Q3 24 | $78.5M | $54.5M | ||
| Q2 24 | $65.4M | $45.2M | ||
| Q1 24 | $26.9M | $41.5M |
自由现金流率IESCNET
| Q4 25 | -2.2% | 17.1% | ||
| Q3 25 | 12.5% | 14.7% | ||
| Q2 25 | 8.4% | 7.8% | ||
| Q1 25 | 0.9% | 12.5% | ||
| Q4 24 | 3.2% | 11.8% | ||
| Q3 24 | 10.1% | 12.7% | ||
| Q2 24 | 8.5% | 11.3% | ||
| Q1 24 | 3.8% | 11.0% |
资本支出强度IESCNET
| Q4 25 | 5.3% | 13.9% | ||
| Q3 25 | 2.2% | 15.1% | ||
| Q2 25 | 1.9% | 11.7% | ||
| Q1 25 | 2.0% | 17.9% | ||
| Q4 24 | 1.8% | 15.9% | ||
| Q3 24 | 1.8% | 11.7% | ||
| Q2 24 | 2.3% | 7.4% | ||
| Q1 24 | 1.0% | 8.5% |
现金转化率IESCNET
| Q4 25 | 0.30× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 1.42× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 0.59× | — |
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
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
