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KELLY SERVICES INC（KELYA）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
KELLY SERVICES INC的季度营收约是Cloudflare, Inc.的1.9倍（$1.2B vs $614.5M），Cloudflare, Inc.同比增速更快（33.6% vs -3.3%），Cloudflare, Inc.自由现金流更多（$105.2M vs $13.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -3.1%）
凯利服务是1946年成立的美国跨国人力资源服务企业，总部位于密歇根州特洛伊市。公司可为金融服务、信息技术、法律等多个领域输送各层级雇员，核心业务涵盖人力资源管理咨询、业务外包、人才招聘、职业转型及供应商管理等专业服务。
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。
KELYA vs NET — 直观对比
营收规模更大
KELYA
是对方的1.9倍
$614.5M
营收增速更快
NET
高出36.9%
-3.3%
自由现金流更多
NET
多$92.2M
$13.0M
两年增速更快
NET
近两年复合增速
-3.1%
损益表 — Q4 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.5M |
| 净利润 | — | $-12.1M |
| 毛利率 | 20.3% | 73.6% |
| 营业利润率 | -4.8% | -8.0% |
| 净利率 | — | -2.0% |
| 营收同比 | -3.3% | 33.6% |
| 净利润同比 | — | 6.0% |
| 每股收益（稀释后） | $-0.86 | $-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KELYANET
| Q4 25 | — | $614.5M | ||
| Q3 25 | — | $562.0M | ||
| Q2 25 | — | $512.3M | ||
| Q1 25 | — | $479.1M | ||
| Q4 24 | $1.2B | $459.9M | ||
| Q3 24 | $1.0B | $430.1M | ||
| Q2 24 | $1.1B | $401.0M | ||
| Q1 24 | $1.0B | $378.6M |
净利润KELYANET
| Q4 25 | — | $-12.1M | ||
| Q3 25 | — | $-1.3M | ||
| Q2 25 | — | $-50.4M | ||
| Q1 25 | — | $-38.5M | ||
| Q4 24 | — | $-12.8M | ||
| Q3 24 | $800.0K | $-15.3M | ||
| Q2 24 | $4.6M | $-15.1M | ||
| Q1 24 | $25.8M | $-35.5M |
毛利率KELYANET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | 20.3% | 76.4% | ||
| Q3 24 | 21.4% | 77.7% | ||
| Q2 24 | 20.2% | 77.8% | ||
| Q1 24 | 19.7% | 77.5% |
营业利润率KELYANET
| Q4 25 | — | -8.0% | ||
| Q3 25 | — | -6.7% | ||
| Q2 25 | — | -13.1% | ||
| Q1 25 | — | -11.1% | ||
| Q4 24 | -4.8% | -7.5% | ||
| Q3 24 | 0.3% | -7.2% | ||
| Q2 24 | 1.2% | -8.7% | ||
| Q1 24 | 2.6% | -14.4% |
净利率KELYANET
| Q4 25 | — | -2.0% | ||
| Q3 25 | — | -0.2% | ||
| Q2 25 | — | -9.8% | ||
| Q1 25 | — | -8.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | 0.1% | -3.6% | ||
| Q2 24 | 0.4% | -3.8% | ||
| Q1 24 | 2.5% | -9.4% |
每股收益（稀释后）KELYANET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | $-0.86 | $-0.05 | ||
| Q3 24 | $0.02 | $-0.04 | ||
| Q2 24 | $0.12 | $-0.04 | ||
| Q1 24 | $0.70 | $-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 | $39.0M | $943.5M |
| 总债务越低越好 | $239.4M | — |
| 股东权益账面价值 | $1.2B | $1.5B |
| 总资产 | $2.6B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资KELYANET
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $204.5M | ||
| Q4 24 | $39.0M | $147.7M | ||
| Q3 24 | $32.8M | $182.9M | ||
| Q2 24 | $38.2M | $157.0M | ||
| Q1 24 | $200.7M | $254.4M |
总债务KELYANET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $239.4M | — | ||
| Q3 24 | $228.2M | — | ||
| Q2 24 | $210.4M | — | ||
| Q1 24 | — | — |
股东权益KELYANET
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.3B | $973.1M | ||
| Q2 24 | $1.3B | $881.5M | ||
| Q1 24 | $1.3B | $797.2M |
总资产KELYANET
| Q4 25 | — | $6.0B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | $2.6B | $3.3B | ||
| Q3 24 | $2.7B | $3.1B | ||
| Q2 24 | $2.6B | $2.9B | ||
| Q1 24 | $2.4B | $2.8B |
负债/权益比KELYANET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.19× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.16× | — | ||
| Q1 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 | $15.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $13.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 1.1% | 17.1% |
| 资本支出强度资本支出/营收 | 0.2% | 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 | $15.8M | $287.5M |
8季度趋势，按日历期对齐
经营现金流KELYANET
| Q4 25 | — | $190.4M | ||
| Q3 25 | — | $167.1M | ||
| Q2 25 | — | $99.8M | ||
| Q1 25 | — | $145.8M | ||
| Q4 24 | $15.0M | $127.3M | ||
| Q3 24 | $-20.3M | $104.7M | ||
| Q2 24 | $57.7M | $74.8M | ||
| Q1 24 | $-25.5M | $73.6M |
自由现金流KELYANET
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | $13.0M | $54.2M | ||
| Q3 24 | $-22.7M | $54.5M | ||
| Q2 24 | $54.7M | $45.2M | ||
| Q1 24 | $-29.2M | $41.5M |
自由现金流率KELYANET
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | 1.1% | 11.8% | ||
| Q3 24 | -2.2% | 12.7% | ||
| Q2 24 | 5.2% | 11.3% | ||
| Q1 24 | -2.8% | 11.0% |
资本支出强度KELYANET
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | 0.2% | 15.9% | ||
| Q3 24 | 0.2% | 11.7% | ||
| Q2 24 | 0.3% | 7.4% | ||
| Q1 24 | 0.4% | 8.5% |
现金转化率KELYANET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -25.38× | — | ||
| Q2 24 | 12.54× | — | ||
| Q1 24 | -0.99× | — |
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
KELYA
| Science Engineering Technology | $295.8M | 25% |
| Education | $293.1M | 25% |
| Staffing Services | $237.7M | 20% |
| Other | $138.8M | 12% |
| Talent Solutions | $120.5M | 10% |
| Outcome Based Services | $103.6M | 9% |
| Permanent Placement | $1.6M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
