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KAISER ALUMINUM CORP（KALU）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
KAISER ALUMINUM CORP的季度营收约是Cloudflare, Inc.的1.5倍（$929.0M vs $614.5M），KAISER ALUMINUM CORP净利率更高（3.0% vs -2.0%，领先5.0%），Cloudflare, Inc.同比增速更快（33.6% vs 21.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-51.1M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 12.2%）
凯撒铝业是美国知名铝产品生产商，前身为凯撒铝业化工公司。其历史可追溯至Permanente Metals公司，该公司公开发行普通股后更名为凯撒铝业化工公司，后续拆分出现在的凯撒铝业，深耕铝材料生产领域，为下游多行业提供铝制品解决方案。
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。
KALU vs NET — 直观对比
营收规模更大
KALU
是对方的1.5倍
$614.5M
营收增速更快
NET
高出12.2%
21.4%
净利率更高
KALU
高出5.0%
-2.0%
自由现金流更多
NET
多$156.3M
$-51.1M
两年增速更快
NET
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.0M | $614.5M |
| 净利润 | $28.2M | $-12.1M |
| 毛利率 | 13.3% | 73.6% |
| 营业利润率 | 6.5% | -8.0% |
| 净利率 | 3.0% | -2.0% |
| 营收同比 | 21.4% | 33.6% |
| 净利润同比 | 42.4% | 6.0% |
| 每股收益（稀释后） | $1.67 | $-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KALUNET
| Q4 25 | $929.0M | $614.5M | ||
| Q3 25 | $843.5M | $562.0M | ||
| Q2 25 | $823.1M | $512.3M | ||
| Q1 25 | $777.4M | $479.1M | ||
| Q4 24 | $765.4M | $459.9M | ||
| Q3 24 | $747.7M | $430.1M | ||
| Q2 24 | $773.4M | $401.0M | ||
| Q1 24 | $737.5M | $378.6M |
净利润KALUNET
| Q4 25 | $28.2M | $-12.1M | ||
| Q3 25 | $39.5M | $-1.3M | ||
| Q2 25 | $23.2M | $-50.4M | ||
| Q1 25 | $21.6M | $-38.5M | ||
| Q4 24 | $19.8M | $-12.8M | ||
| Q3 24 | $8.8M | $-15.3M | ||
| Q2 24 | $18.9M | $-15.1M | ||
| Q1 24 | $18.2M | $-35.5M |
毛利率KALUNET
| Q4 25 | 13.3% | 73.6% | ||
| Q3 25 | 13.6% | 74.0% | ||
| Q2 25 | 12.2% | 74.9% | ||
| Q1 25 | 13.4% | 75.9% | ||
| Q4 24 | 12.5% | 76.4% | ||
| Q3 24 | 9.6% | 77.7% | ||
| Q2 24 | 13.4% | 77.8% | ||
| Q1 24 | 11.7% | 77.5% |
营业利润率KALUNET
| Q4 25 | 6.5% | -8.0% | ||
| Q3 25 | 5.8% | -6.7% | ||
| Q2 25 | 4.6% | -13.1% | ||
| Q1 25 | 5.3% | -11.1% | ||
| Q4 24 | 5.0% | -7.5% | ||
| Q3 24 | 1.8% | -7.2% | ||
| Q2 24 | 4.7% | -8.7% | ||
| Q1 24 | 3.3% | -14.4% |
净利率KALUNET
| Q4 25 | 3.0% | -2.0% | ||
| Q3 25 | 4.7% | -0.2% | ||
| Q2 25 | 2.8% | -9.8% | ||
| Q1 25 | 2.8% | -8.0% | ||
| Q4 24 | 2.6% | -2.8% | ||
| Q3 24 | 1.2% | -3.6% | ||
| Q2 24 | 2.4% | -3.8% | ||
| Q1 24 | 2.5% | -9.4% |
每股收益（稀释后）KALUNET
| Q4 25 | $1.67 | $-0.03 | ||
| Q3 25 | $2.38 | $0.00 | ||
| Q2 25 | $1.41 | $-0.15 | ||
| Q1 25 | $1.31 | $-0.11 | ||
| Q4 24 | $1.21 | $-0.05 | ||
| Q3 24 | $0.54 | $-0.04 | ||
| Q2 24 | $1.15 | $-0.04 | ||
| Q1 24 | $1.12 | $-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 | $7.0M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $826.1M | $1.5B |
| 总资产 | $2.6B | $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KALUNET
| Q4 25 | $7.0M | $943.5M | ||
| Q3 25 | $17.2M | $1.1B | ||
| Q2 25 | $13.1M | $1.5B | ||
| Q1 25 | $21.3M | $204.5M | ||
| Q4 24 | $18.4M | $147.7M | ||
| Q3 24 | $45.7M | $182.9M | ||
| Q2 24 | $70.4M | $157.0M | ||
| Q1 24 | $101.6M | $254.4M |
股东权益KALUNET
| Q4 25 | $826.1M | $1.5B | ||
| Q3 25 | $806.1M | $1.3B | ||
| Q2 25 | $776.0M | $1.2B | ||
| Q1 25 | $756.8M | $1.4B | ||
| Q4 24 | $743.1M | $1.0B | ||
| Q3 24 | $729.4M | $973.1M | ||
| Q2 24 | $727.6M | $881.5M | ||
| Q1 24 | $714.7M | $797.2M |
总资产KALUNET
| Q4 25 | $2.6B | $6.0B | ||
| Q3 25 | $2.6B | $5.8B | ||
| Q2 25 | $2.5B | $5.6B | ||
| Q1 25 | $2.4B | $3.7B | ||
| Q4 24 | $2.4B | $3.3B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.3B | $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 | $-20.6M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-51.1M | $105.2M |
| 自由现金流率自由现金流/营收 | -5.5% | 17.1% |
| 资本支出强度资本支出/营收 | 3.3% | 13.9% |
| 现金转化率经营现金流/净利润 | -0.73× | — |
| 过去12个月自由现金流最近4个季度 | $-25.5M | $287.5M |
8季度趋势，按日历期对齐
经营现金流KALUNET
| Q4 25 | $-20.6M | $190.4M | ||
| Q3 25 | $59.1M | $167.1M | ||
| Q2 25 | $15.9M | $99.8M | ||
| Q1 25 | $57.0M | $145.8M | ||
| Q4 24 | $43.4M | $127.3M | ||
| Q3 24 | $34.1M | $104.7M | ||
| Q2 24 | $26.3M | $74.8M | ||
| Q1 24 | $63.3M | $73.6M |
自由现金流KALUNET
| Q4 25 | $-51.1M | $105.2M | ||
| Q3 25 | $34.5M | $82.5M | ||
| Q2 25 | $-27.7M | $39.9M | ||
| Q1 25 | $18.8M | $59.9M | ||
| Q4 24 | $-12.6M | $54.2M | ||
| Q3 24 | $-17.0M | $54.5M | ||
| Q2 24 | $-17.4M | $45.2M | ||
| Q1 24 | $33.3M | $41.5M |
自由现金流率KALUNET
| Q4 25 | -5.5% | 17.1% | ||
| Q3 25 | 4.1% | 14.7% | ||
| Q2 25 | -3.4% | 7.8% | ||
| Q1 25 | 2.4% | 12.5% | ||
| Q4 24 | -1.6% | 11.8% | ||
| Q3 24 | -2.3% | 12.7% | ||
| Q2 24 | -2.2% | 11.3% | ||
| Q1 24 | 4.5% | 11.0% |
资本支出强度KALUNET
| Q4 25 | 3.3% | 13.9% | ||
| Q3 25 | 2.9% | 15.1% | ||
| Q2 25 | 5.3% | 11.7% | ||
| Q1 25 | 4.9% | 17.9% | ||
| Q4 24 | 7.3% | 15.9% | ||
| Q3 24 | 6.8% | 11.7% | ||
| Q2 24 | 5.7% | 7.4% | ||
| Q1 24 | 4.1% | 8.5% |
现金转化率KALUNET
| Q4 25 | -0.73× | — | ||
| Q3 25 | 1.50× | — | ||
| Q2 25 | 0.69× | — | ||
| Q1 25 | 2.64× | — | ||
| Q4 24 | 2.19× | — | ||
| Q3 24 | 3.88× | — | ||
| Q2 24 | 1.39× | — | ||
| Q1 24 | 3.48× | — |
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
KALU
| Packaging | $440.6M | 47% |
| Aero Hs Products | $213.0M | 23% |
| Transferred Over Time | $200.2M | 22% |
| Automotive Extrusions | $75.4M | 8% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
