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爵士制药（JAZZ）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
爵士制药的季度营收约是Cloudflare, Inc.的1.9倍（$1.2B vs $614.5M），爵士制药净利率更高（17.0% vs -2.0%，领先18.9%），Cloudflare, Inc.同比增速更快（33.6% vs 10.1%），爵士制药自由现金流更多（$345.8M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 15.2%）
爵士制药是一家全球性生物制药企业，核心业务聚焦肿瘤学与神经科学两大领域，2003年在美国加利福尼亚州成立，当前总部坐落于爱尔兰首都都柏林。
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。
JAZZ vs NET — 直观对比
营收规模更大
JAZZ
是对方的1.9倍
$614.5M
营收增速更快
NET
高出23.5%
10.1%
净利率更高
JAZZ
高出18.9%
-2.0%
自由现金流更多
JAZZ
多$240.6M
$105.2M
两年增速更快
NET
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.5M |
| 净利润 | $203.5M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 21.2% | -8.0% |
| 净利率 | 17.0% | -2.0% |
| 营收同比 | 10.1% | 33.6% |
| 净利润同比 | 6.5% | 6.0% |
| 每股收益（稀释后） | $3.34 | $-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JAZZNET
| Q4 25 | $1.2B | $614.5M | ||
| Q3 25 | $1.1B | $562.0M | ||
| Q2 25 | $1.0B | $512.3M | ||
| Q1 25 | $897.8M | $479.1M | ||
| Q4 24 | $1.1B | $459.9M | ||
| Q3 24 | $1.1B | $430.1M | ||
| Q2 24 | $1.0B | $401.0M | ||
| Q1 24 | $902.0M | $378.6M |
净利润JAZZNET
| Q4 25 | $203.5M | $-12.1M | ||
| Q3 25 | $251.4M | $-1.3M | ||
| Q2 25 | $-718.5M | $-50.4M | ||
| Q1 25 | $-92.5M | $-38.5M | ||
| Q4 24 | $191.1M | $-12.8M | ||
| Q3 24 | $215.1M | $-15.3M | ||
| Q2 24 | $168.6M | $-15.1M | ||
| Q1 24 | $-14.6M | $-35.5M |
毛利率JAZZNET
| 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JAZZNET
| Q4 25 | 21.2% | -8.0% | ||
| Q3 25 | 5.1% | -6.7% | ||
| Q2 25 | -65.6% | -13.1% | ||
| Q1 25 | -6.2% | -11.1% | ||
| Q4 24 | 17.5% | -7.5% | ||
| Q3 24 | 24.7% | -7.2% | ||
| Q2 24 | 19.5% | -8.7% | ||
| Q1 24 | 7.3% | -14.4% |
净利率JAZZNET
| Q4 25 | 17.0% | -2.0% | ||
| Q3 25 | 22.3% | -0.2% | ||
| Q2 25 | -68.7% | -9.8% | ||
| Q1 25 | -10.3% | -8.0% | ||
| Q4 24 | 17.6% | -2.8% | ||
| Q3 24 | 20.4% | -3.6% | ||
| Q2 24 | 16.5% | -3.8% | ||
| Q1 24 | -1.6% | -9.4% |
每股收益（稀释后）JAZZNET
| Q4 25 | $3.34 | $-0.03 | ||
| Q3 25 | $4.08 | $0.00 | ||
| Q2 25 | $-11.74 | $-0.15 | ||
| Q1 25 | $-1.52 | $-0.11 | ||
| Q4 24 | $2.97 | $-0.05 | ||
| Q3 24 | $3.42 | $-0.04 | ||
| Q2 24 | $2.49 | $-0.04 | ||
| Q1 24 | $-0.23 | $-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 | $1.4B | $943.5M |
| 总债务越低越好 | $5.4B | — |
| 股东权益账面价值 | $4.3B | $1.5B |
| 总资产 | $11.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.24× | — |
8季度趋势，按日历期对齐
现金及短期投资JAZZNET
| Q4 25 | $1.4B | $943.5M | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.9B | $204.5M | ||
| Q4 24 | $2.4B | $147.7M | ||
| Q3 24 | $2.2B | $182.9M | ||
| Q2 24 | $1.4B | $157.0M | ||
| Q1 24 | $1.4B | $254.4M |
总债务JAZZNET
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.4B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.4B | — | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $6.1B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.7B | — |
股东权益JAZZNET
| Q4 25 | $4.3B | $1.5B | ||
| Q3 25 | $4.0B | $1.3B | ||
| Q2 25 | $3.7B | $1.2B | ||
| Q1 25 | $4.2B | $1.4B | ||
| Q4 24 | $4.1B | $1.0B | ||
| Q3 24 | $4.2B | $973.1M | ||
| Q2 24 | $3.8B | $881.5M | ||
| Q1 24 | $3.7B | $797.2M |
总资产JAZZNET
| Q4 25 | $11.7B | $6.0B | ||
| Q3 25 | $11.4B | $5.8B | ||
| Q2 25 | $10.9B | $5.6B | ||
| Q1 25 | $11.5B | $3.7B | ||
| Q4 24 | $12.0B | $3.3B | ||
| Q3 24 | $12.3B | $3.1B | ||
| Q2 24 | $11.4B | $2.9B | ||
| Q1 24 | $11.3B | $2.8B |
负债/权益比JAZZNET
| Q4 25 | 1.24× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 1.47× | — | ||
| Q2 24 | 1.52× | — | ||
| 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 | $362.5M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $345.8M | $105.2M |
| 自由现金流率自由现金流/营收 | 28.9% | 17.1% |
| 资本支出强度资本支出/营收 | 1.4% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.78× | — |
| 过去12个月自由现金流最近4个季度 | $1.3B | $287.5M |
8季度趋势，按日历期对齐
经营现金流JAZZNET
| Q4 25 | $362.5M | $190.4M | ||
| Q3 25 | $474.6M | $167.1M | ||
| Q2 25 | $88.9M | $99.8M | ||
| Q1 25 | $429.8M | $145.8M | ||
| Q4 24 | $398.6M | $127.3M | ||
| Q3 24 | $398.7M | $104.7M | ||
| Q2 24 | $331.4M | $74.8M | ||
| Q1 24 | $267.2M | $73.6M |
自由现金流JAZZNET
| Q4 25 | $345.8M | $105.2M | ||
| Q3 25 | $459.4M | $82.5M | ||
| Q2 25 | $75.9M | $39.9M | ||
| Q1 25 | $415.9M | $59.9M | ||
| Q4 24 | $385.3M | $54.2M | ||
| Q3 24 | $388.0M | $54.5M | ||
| Q2 24 | $324.3M | $45.2M | ||
| Q1 24 | $260.3M | $41.5M |
自由现金流率JAZZNET
| Q4 25 | 28.9% | 17.1% | ||
| Q3 25 | 40.8% | 14.7% | ||
| Q2 25 | 7.3% | 7.8% | ||
| Q1 25 | 46.3% | 12.5% | ||
| Q4 24 | 35.4% | 11.8% | ||
| Q3 24 | 36.8% | 12.7% | ||
| Q2 24 | 31.7% | 11.3% | ||
| Q1 24 | 28.9% | 11.0% |
资本支出强度JAZZNET
| Q4 25 | 1.4% | 13.9% | ||
| Q3 25 | 1.3% | 15.1% | ||
| Q2 25 | 1.2% | 11.7% | ||
| Q1 25 | 1.5% | 17.9% | ||
| Q4 24 | 1.2% | 15.9% | ||
| Q3 24 | 1.0% | 11.7% | ||
| Q2 24 | 0.7% | 7.4% | ||
| Q1 24 | 0.8% | 8.5% |
现金转化率JAZZNET
| Q4 25 | 1.78× | — | ||
| Q3 25 | 1.89× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.97× | — | ||
| Q1 24 | — | — |
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
JAZZ
| Xywav | $465.5M | 39% |
| Total Oncology | $337.8M | 28% |
| Rylaze Enrylaze | $108.2M | 9% |
| Zepzelca | $90.4M | 8% |
| Product And Services Royalties And Contract Revenue | $65.5M | 5% |
| High Sodium AG Oxybate Product Royalty Revenue | $55.7M | 5% |
| Xyrem | $37.8M | 3% |
| Vyxeos | $34.7M | 3% |
| Ziihera | $8.5M | 1% |
| Other Products | $2.8M | 0% |
| Sativex | $1.5M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
