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光辉国际（KFY）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
光辉国际的季度营收约是Cloudflare, Inc.的1.2倍（$729.8M vs $614.5M），光辉国际净利率更高（9.9% vs -2.0%，领先11.9%），Cloudflare, Inc.同比增速更快（33.6% vs 7.0%），Cloudflare, Inc.自由现金流更多（$105.2M vs $100.7M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 3.8%）
光辉国际是一家总部位于美国加利福尼亚州洛杉矶的管理咨询企业，成立于1969年。截至2019年，公司在全球53个国家设有111个办事处，员工总数达8198名，旗下设有咨询、数字化、高管寻访、招聘流程外包及专业人才寻访四大业务板块，为全球客户提供全方位的人力资源及管理解决方案。
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。
KFY vs NET — 直观对比
营收规模更大
KFY
是对方的1.2倍
$614.5M
营收增速更快
NET
高出26.6%
7.0%
净利率更高
KFY
高出11.9%
-2.0%
自由现金流更多
NET
多$4.6M
$100.7M
两年增速更快
NET
近两年复合增速
3.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $729.8M | $614.5M |
| 净利润 | $72.4M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 13.5% | -8.0% |
| 净利率 | 9.9% | -2.0% |
| 营收同比 | 7.0% | 33.6% |
| 净利润同比 | 19.1% | 6.0% |
| 每股收益（稀释后） | $1.36 | $-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KFYNET
| Q4 25 | $729.8M | $614.5M | ||
| Q3 25 | $715.5M | $562.0M | ||
| Q2 25 | $719.8M | $512.3M | ||
| Q1 25 | $676.5M | $479.1M | ||
| Q4 24 | $682.0M | $459.9M | ||
| Q3 24 | $682.8M | $430.1M | ||
| Q2 24 | $699.9M | $401.0M | ||
| Q1 24 | $676.9M | $378.6M |
净利润KFYNET
| Q4 25 | $72.4M | $-12.1M | ||
| Q3 25 | $66.6M | $-1.3M | ||
| Q2 25 | $64.2M | $-50.4M | ||
| Q1 25 | $58.4M | $-38.5M | ||
| Q4 24 | $60.8M | $-12.8M | ||
| Q3 24 | $62.6M | $-15.3M | ||
| Q2 24 | $65.2M | $-15.1M | ||
| Q1 24 | $59.1M | $-35.5M |
毛利率KFYNET
| 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KFYNET
| Q4 25 | 13.5% | -8.0% | ||
| Q3 25 | 11.7% | -6.7% | ||
| Q2 25 | 14.5% | -13.1% | ||
| Q1 25 | 11.6% | -11.1% | ||
| Q4 24 | 12.8% | -7.5% | ||
| Q3 24 | 11.1% | -7.2% | ||
| Q2 24 | 11.9% | -8.7% | ||
| Q1 24 | 7.4% | -14.4% |
净利率KFYNET
| Q4 25 | 9.9% | -2.0% | ||
| Q3 25 | 9.3% | -0.2% | ||
| Q2 25 | 8.9% | -9.8% | ||
| Q1 25 | 8.6% | -8.0% | ||
| Q4 24 | 8.9% | -2.8% | ||
| Q3 24 | 9.2% | -3.6% | ||
| Q2 24 | 9.3% | -3.8% | ||
| Q1 24 | 8.7% | -9.4% |
每股收益（稀释后）KFYNET
| Q4 25 | $1.36 | $-0.03 | ||
| Q3 25 | $1.26 | $0.00 | ||
| Q2 25 | $1.19 | $-0.15 | ||
| Q1 25 | $1.10 | $-0.11 | ||
| Q4 24 | $1.14 | $-0.05 | ||
| Q3 24 | $1.17 | $-0.04 | ||
| Q2 24 | $1.25 | $-0.04 | ||
| Q1 24 | $1.13 | $-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 | $801.1M | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.9B | $1.5B |
| 总资产 | $3.7B | $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KFYNET
| Q4 25 | $801.1M | $943.5M | ||
| Q3 25 | $721.1M | $1.1B | ||
| Q2 25 | $1.0B | $1.5B | ||
| Q1 25 | $820.0M | $204.5M | ||
| Q4 24 | $735.5M | $147.7M | ||
| Q3 24 | $674.0M | $182.9M | ||
| Q2 24 | $983.7M | $157.0M | ||
| Q1 24 | $782.5M | $254.4M |
股东权益KFYNET
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.8B | $1.4B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.8B | $973.1M | ||
| Q2 24 | $1.7B | $881.5M | ||
| Q1 24 | $1.7B | $797.2M |
总资产KFYNET
| Q4 25 | $3.7B | $6.0B | ||
| Q3 25 | $3.6B | $5.8B | ||
| Q2 25 | $3.9B | $5.6B | ||
| Q1 25 | $3.6B | $3.7B | ||
| Q4 24 | $3.5B | $3.3B | ||
| Q3 24 | $3.4B | $3.1B | ||
| Q2 24 | $3.7B | $2.9B | ||
| Q1 24 | $3.6B | $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 | $121.4M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $100.7M | $105.2M |
| 自由现金流率自由现金流/营收 | 13.8% | 17.1% |
| 资本支出强度资本支出/营收 | 2.8% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.68× | — |
| 过去12个月自由现金流最近4个季度 | $272.6M | $287.5M |
8季度趋势，按日历期对齐
经营现金流KFYNET
| Q4 25 | $121.4M | $190.4M | ||
| Q3 25 | $-237.4M | $167.1M | ||
| Q2 25 | $255.8M | $99.8M | ||
| Q1 25 | $213.7M | $145.8M | ||
| Q4 24 | $122.0M | $127.3M | ||
| Q3 24 | $-227.2M | $104.7M | ||
| Q2 24 | $261.9M | $74.8M | ||
| Q1 24 | $164.0M | $73.6M |
自由现金流KFYNET
| Q4 25 | $100.7M | $105.2M | ||
| Q3 25 | $-260.0M | $82.5M | ||
| Q2 25 | $235.5M | $39.9M | ||
| Q1 25 | $196.4M | $59.9M | ||
| Q4 24 | $107.7M | $54.2M | ||
| Q3 24 | $-237.7M | $54.5M | ||
| Q2 24 | $250.0M | $45.2M | ||
| Q1 24 | $152.3M | $41.5M |
自由现金流率KFYNET
| Q4 25 | 13.8% | 17.1% | ||
| Q3 25 | -36.3% | 14.7% | ||
| Q2 25 | 32.7% | 7.8% | ||
| Q1 25 | 29.0% | 12.5% | ||
| Q4 24 | 15.8% | 11.8% | ||
| Q3 24 | -34.8% | 12.7% | ||
| Q2 24 | 35.7% | 11.3% | ||
| Q1 24 | 22.5% | 11.0% |
资本支出强度KFYNET
| Q4 25 | 2.8% | 13.9% | ||
| Q3 25 | 3.2% | 15.1% | ||
| Q2 25 | 2.8% | 11.7% | ||
| Q1 25 | 2.6% | 17.9% | ||
| Q4 24 | 2.1% | 15.9% | ||
| Q3 24 | 1.5% | 11.7% | ||
| Q2 24 | 1.7% | 7.4% | ||
| Q1 24 | 1.7% | 8.5% |
现金转化率KFYNET
| Q4 25 | 1.68× | — | ||
| Q3 25 | -3.56× | — | ||
| Q2 25 | 3.98× | — | ||
| Q1 25 | 3.66× | — | ||
| Q4 24 | 2.01× | — | ||
| Q3 24 | -3.63× | — | ||
| Q2 24 | 4.02× | — | ||
| Q1 24 | 2.78× | — |
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
KFY
| Industrial | $234.0M | 32% |
| Technology Service | $104.5M | 14% |
| RPO | $92.3M | 13% |
| Digital | $91.2M | 13% |
| Consumer Goods | $85.0M | 12% |
| Executive Search EMEA | $52.2M | 7% |
| Education Non Profit And General | $43.2M | 6% |
| Executive Search Asia Pacific | $24.3M | 3% |
| Reimbursed Out Of Pocket Engagement Expenses | $8.1M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
