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KIRBY CORP（KEX）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
KIRBY CORP的季度营收约是Cloudflare, Inc.的1.4倍（$844.1M vs $614.5M），KIRBY CORP净利率更高（9.6% vs -2.0%，领先11.6%），Cloudflare, Inc.同比增速更快（33.6% vs 7.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $49.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 1.2%）
总部位于美国得克萨斯州休斯顿的Kirby Corporation是美国最大的罐驳船运营商，业务覆盖密西西比河水系、海湾沿岸航道、美国三大海岸沿线及阿拉斯加、夏威夷地区，主营通过罐驳船运输石化产品、黑油、精炼石油制品、农化产品，同时拥有并运营8组远洋驳船及拖船运输单元。
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。
KEX vs NET — 直观对比
营收规模更大
KEX
是对方的1.4倍
$614.5M
营收增速更快
NET
高出26.2%
7.4%
净利率更高
KEX
高出11.6%
-2.0%
自由现金流更多
NET
多$55.8M
$49.4M
两年增速更快
NET
近两年复合增速
1.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $844.1M | $614.5M |
| 净利润 | $81.3M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 12.8% | -8.0% |
| 净利率 | 9.6% | -2.0% |
| 营收同比 | 7.4% | 33.6% |
| 净利润同比 | 6.6% | 6.0% |
| 每股收益（稀释后） | $1.50 | $-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KEXNET
| Q1 26 | $844.1M | — | ||
| Q4 25 | $851.8M | $614.5M | ||
| Q3 25 | $871.2M | $562.0M | ||
| Q2 25 | $855.5M | $512.3M | ||
| Q1 25 | $785.7M | $479.1M | ||
| Q4 24 | $802.3M | $459.9M | ||
| Q3 24 | $831.1M | $430.1M | ||
| Q2 24 | $824.4M | $401.0M |
净利润KEXNET
| Q1 26 | $81.3M | — | ||
| Q4 25 | $91.8M | $-12.1M | ||
| Q3 25 | $92.5M | $-1.3M | ||
| Q2 25 | $94.3M | $-50.4M | ||
| Q1 25 | $76.0M | $-38.5M | ||
| Q4 24 | $42.8M | $-12.8M | ||
| Q3 24 | $90.0M | $-15.3M | ||
| Q2 24 | $83.9M | $-15.1M |
毛利率KEXNET
| Q1 26 | — | — | ||
| 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% |
营业利润率KEXNET
| Q1 26 | 12.8% | — | ||
| Q4 25 | 15.2% | -8.0% | ||
| Q3 25 | 14.8% | -6.7% | ||
| Q2 25 | 15.4% | -13.1% | ||
| Q1 25 | 13.4% | -11.1% | ||
| Q4 24 | 6.3% | -7.5% | ||
| Q3 24 | 15.3% | -7.2% | ||
| Q2 24 | 14.6% | -8.7% |
净利率KEXNET
| Q1 26 | 9.6% | — | ||
| Q4 25 | 10.8% | -2.0% | ||
| Q3 25 | 10.6% | -0.2% | ||
| Q2 25 | 11.0% | -9.8% | ||
| Q1 25 | 9.7% | -8.0% | ||
| Q4 24 | 5.3% | -2.8% | ||
| Q3 24 | 10.8% | -3.6% | ||
| Q2 24 | 10.2% | -3.8% |
每股收益（稀释后）KEXNET
| Q1 26 | $1.50 | — | ||
| Q4 25 | $1.68 | $-0.03 | ||
| Q3 25 | $1.65 | $0.00 | ||
| Q2 25 | $1.67 | $-0.15 | ||
| Q1 25 | $1.33 | $-0.11 | ||
| Q4 24 | $0.74 | $-0.05 | ||
| Q3 24 | $1.55 | $-0.04 | ||
| Q2 24 | $1.43 | $-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 | $58.0M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.4B | $1.5B |
| 总资产 | — | $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KEXNET
| Q1 26 | $58.0M | — | ||
| Q4 25 | $78.8M | $943.5M | ||
| Q3 25 | $47.0M | $1.1B | ||
| Q2 25 | $68.4M | $1.5B | ||
| Q1 25 | $51.1M | $204.5M | ||
| Q4 24 | $74.4M | $147.7M | ||
| Q3 24 | $67.1M | $182.9M | ||
| Q2 24 | $53.5M | $157.0M |
总债务KEXNET
| Q1 26 | — | — | ||
| Q4 25 | $919.3M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $874.9M | — | ||
| Q3 24 | $978.6M | — | ||
| Q2 24 | $1.0B | — |
股东权益KEXNET
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $1.5B | ||
| Q3 25 | $3.4B | $1.3B | ||
| Q2 25 | $3.4B | $1.2B | ||
| Q1 25 | $3.3B | $1.4B | ||
| Q4 24 | $3.4B | $1.0B | ||
| Q3 24 | $3.3B | $973.1M | ||
| Q2 24 | $3.3B | $881.5M |
总资产KEXNET
| Q1 26 | — | — | ||
| Q4 25 | $6.0B | $6.0B | ||
| Q3 25 | $6.1B | $5.8B | ||
| Q2 25 | $6.1B | $5.6B | ||
| Q1 25 | $6.0B | $3.7B | ||
| Q4 24 | $5.9B | $3.3B | ||
| Q3 24 | $5.9B | $3.1B | ||
| Q2 24 | $5.9B | $2.9B |
负债/权益比KEXNET
| Q1 26 | — | — | ||
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.26× | — | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | 0.32× | — |
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 | $97.7M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $49.4M | $105.2M |
| 自由现金流率自由现金流/营收 | 5.9% | 17.1% |
| 资本支出强度资本支出/营收 | 5.7% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.20× | — |
| 过去12个月自由现金流最近4个季度 | $497.3M | $287.5M |
8季度趋势，按日历期对齐
经营现金流KEXNET
| Q1 26 | $97.7M | — | ||
| Q4 25 | $312.2M | $190.4M | ||
| Q3 25 | $227.5M | $167.1M | ||
| Q2 25 | $93.9M | $99.8M | ||
| Q1 25 | $36.5M | $145.8M | ||
| Q4 24 | $247.4M | $127.3M | ||
| Q3 24 | $206.5M | $104.7M | ||
| Q2 24 | $179.3M | $74.8M |
自由现金流KEXNET
| Q1 26 | $49.4M | — | ||
| Q4 25 | $265.2M | $105.2M | ||
| Q3 25 | $160.3M | $82.5M | ||
| Q2 25 | $22.4M | $39.9M | ||
| Q1 25 | $-42.1M | $59.9M | ||
| Q4 24 | $150.7M | $54.2M | ||
| Q3 24 | $130.1M | $54.5M | ||
| Q2 24 | $90.8M | $45.2M |
自由现金流率KEXNET
| Q1 26 | 5.9% | — | ||
| Q4 25 | 31.1% | 17.1% | ||
| Q3 25 | 18.4% | 14.7% | ||
| Q2 25 | 2.6% | 7.8% | ||
| Q1 25 | -5.4% | 12.5% | ||
| Q4 24 | 18.8% | 11.8% | ||
| Q3 24 | 15.7% | 12.7% | ||
| Q2 24 | 11.0% | 11.3% |
资本支出强度KEXNET
| Q1 26 | 5.7% | — | ||
| Q4 25 | 5.5% | 13.9% | ||
| Q3 25 | 7.7% | 15.1% | ||
| Q2 25 | 8.4% | 11.7% | ||
| Q1 25 | 10.0% | 17.9% | ||
| Q4 24 | 12.0% | 15.9% | ||
| Q3 24 | 9.2% | 11.7% | ||
| Q2 24 | 10.7% | 7.4% |
现金转化率KEXNET
| Q1 26 | 1.20× | — | ||
| Q4 25 | 3.40× | — | ||
| Q3 25 | 2.46× | — | ||
| Q2 25 | 1.00× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 5.78× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 2.14× | — |
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
KEX
| Marine transportation | $497.2M | 59% |
| Distribution and services | $346.9M | 41% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
