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肯纳金属（KMT）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是肯纳金属的1.2倍（$614.5M vs $529.5M），肯纳金属净利率更高（6.4% vs -2.0%，领先8.4%），Cloudflare, Inc.同比增速更快（33.6% vs 9.8%），Cloudflare, Inc.自由现金流更多（$105.2M vs $42.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 1.3%）
肯纳金属是高性能切削工具及工程部件制造商，产品广泛应用于航空航天、国防、交通运输、油气钻探等领域，业务覆盖全球市场，为各行业客户提供适配高要求作业场景的专业解决方案。
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。
KMT vs NET — 直观对比
营收规模更大
NET
是对方的1.2倍
$529.5M
营收增速更快
NET
高出23.8%
9.8%
净利率更高
KMT
高出8.4%
-2.0%
自由现金流更多
NET
多$62.8M
$42.4M
两年增速更快
NET
近两年复合增速
1.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $529.5M | $614.5M |
| 净利润 | $33.9M | $-12.1M |
| 毛利率 | 32.8% | 73.6% |
| 营业利润率 | 9.9% | -8.0% |
| 净利率 | 6.4% | -2.0% |
| 营收同比 | 9.8% | 33.6% |
| 净利润同比 | 89.0% | 6.0% |
| 每股收益（稀释后） | $0.44 | $-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KMTNET
| Q4 25 | $529.5M | $614.5M | ||
| Q3 25 | $498.0M | $562.0M | ||
| Q2 25 | $516.4M | $512.3M | ||
| Q1 25 | $486.4M | $479.1M | ||
| Q4 24 | $482.1M | $459.9M | ||
| Q3 24 | $481.9M | $430.1M | ||
| Q2 24 | $543.3M | $401.0M | ||
| Q1 24 | $515.8M | $378.6M |
净利润KMTNET
| Q4 25 | $33.9M | $-12.1M | ||
| Q3 25 | $23.3M | $-1.3M | ||
| Q2 25 | $21.6M | $-50.4M | ||
| Q1 25 | $31.5M | $-38.5M | ||
| Q4 24 | $17.9M | $-12.8M | ||
| Q3 24 | $22.1M | $-15.3M | ||
| Q2 24 | $37.2M | $-15.1M | ||
| Q1 24 | $19.0M | $-35.5M |
毛利率KMTNET
| Q4 25 | 32.8% | 73.6% | ||
| Q3 25 | 31.0% | 74.0% | ||
| Q2 25 | 28.2% | 74.9% | ||
| Q1 25 | 32.1% | 75.9% | ||
| Q4 24 | 30.1% | 76.4% | ||
| Q3 24 | 31.3% | 77.7% | ||
| Q2 24 | 31.5% | 77.8% | ||
| Q1 24 | 29.7% | 77.5% |
营业利润率KMTNET
| Q4 25 | 9.9% | -8.0% | ||
| Q3 25 | 7.5% | -6.7% | ||
| Q2 25 | 6.1% | -13.1% | ||
| Q1 25 | 9.1% | -11.1% | ||
| Q4 24 | 6.6% | -7.5% | ||
| Q3 24 | 7.5% | -7.2% | ||
| Q2 24 | 11.3% | -8.7% | ||
| Q1 24 | 6.8% | -14.4% |
净利率KMTNET
| Q4 25 | 6.4% | -2.0% | ||
| Q3 25 | 4.7% | -0.2% | ||
| Q2 25 | 4.2% | -9.8% | ||
| Q1 25 | 6.5% | -8.0% | ||
| Q4 24 | 3.7% | -2.8% | ||
| Q3 24 | 4.6% | -3.6% | ||
| Q2 24 | 6.8% | -3.8% | ||
| Q1 24 | 3.7% | -9.4% |
每股收益（稀释后）KMTNET
| Q4 25 | $0.44 | $-0.03 | ||
| Q3 25 | $0.30 | $0.00 | ||
| Q2 25 | $0.28 | $-0.15 | ||
| Q1 25 | $0.41 | $-0.11 | ||
| Q4 24 | $0.23 | $-0.05 | ||
| Q3 24 | $0.28 | $-0.04 | ||
| Q2 24 | $0.47 | $-0.04 | ||
| Q1 24 | $0.24 | $-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 | $129.3M | $943.5M |
| 总债务越低越好 | $597.2M | — |
| 股东权益账面价值 | $1.3B | $1.5B |
| 总资产 | $2.6B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.45× | — |
8季度趋势，按日历期对齐
现金及短期投资KMTNET
| Q4 25 | $129.3M | $943.5M | ||
| Q3 25 | $103.5M | $1.1B | ||
| Q2 25 | $140.5M | $1.5B | ||
| Q1 25 | $97.5M | $204.5M | ||
| Q4 24 | $121.2M | $147.7M | ||
| Q3 24 | $119.6M | $182.9M | ||
| Q2 24 | $128.0M | $157.0M | ||
| Q1 24 | $92.1M | $254.4M |
总债务KMTNET
| Q4 25 | $597.2M | — | ||
| Q3 25 | $597.0M | — | ||
| Q2 25 | $596.8M | — | ||
| Q1 25 | $596.6M | — | ||
| Q4 24 | $596.4M | — | ||
| Q3 24 | $596.2M | — | ||
| Q2 24 | $596.0M | — | ||
| Q1 24 | $595.8M | — |
股东权益KMTNET
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.3B | $973.1M | ||
| Q2 24 | $1.2B | $881.5M | ||
| Q1 24 | $1.3B | $797.2M |
总资产KMTNET
| Q4 25 | $2.6B | $6.0B | ||
| Q3 25 | $2.5B | $5.8B | ||
| Q2 25 | $2.5B | $5.6B | ||
| Q1 25 | $2.5B | $3.7B | ||
| Q4 24 | $2.4B | $3.3B | ||
| Q3 24 | $2.5B | $3.1B | ||
| Q2 24 | $2.5B | $2.9B | ||
| Q1 24 | $2.5B | $2.8B |
负债/权益比KMTNET
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.46× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.49× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.48× | — | ||
| Q1 24 | 0.47× | — |
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 | $55.1M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $42.4M | $105.2M |
| 自由现金流率自由现金流/营收 | 8.0% | 17.1% |
| 资本支出强度资本支出/营收 | 2.4% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.63× | — |
| 过去12个月自由现金流最近4个季度 | $99.3M | $287.5M |
8季度趋势，按日历期对齐
经营现金流KMTNET
| Q4 25 | $55.1M | $190.4M | ||
| Q3 25 | $17.5M | $167.1M | ||
| Q2 25 | $78.6M | $99.8M | ||
| Q1 25 | $28.8M | $145.8M | ||
| Q4 24 | $55.2M | $127.3M | ||
| Q3 24 | $45.7M | $104.7M | ||
| Q2 24 | $113.6M | $74.8M | ||
| Q1 24 | $75.2M | $73.6M |
自由现金流KMTNET
| Q4 25 | $42.4M | $105.2M | ||
| Q3 25 | $-5.5M | $82.5M | ||
| Q2 25 | $57.1M | $39.9M | ||
| Q1 25 | $5.3M | $59.9M | ||
| Q4 24 | $35.9M | $54.2M | ||
| Q3 24 | $21.0M | $54.5M | ||
| Q2 24 | $90.3M | $45.2M | ||
| Q1 24 | $48.4M | $41.5M |
自由现金流率KMTNET
| Q4 25 | 8.0% | 17.1% | ||
| Q3 25 | -1.1% | 14.7% | ||
| Q2 25 | 11.1% | 7.8% | ||
| Q1 25 | 1.1% | 12.5% | ||
| Q4 24 | 7.5% | 11.8% | ||
| Q3 24 | 4.4% | 12.7% | ||
| Q2 24 | 16.6% | 11.3% | ||
| Q1 24 | 9.4% | 11.0% |
资本支出强度KMTNET
| Q4 25 | 2.4% | 13.9% | ||
| Q3 25 | 4.6% | 15.1% | ||
| Q2 25 | 4.2% | 11.7% | ||
| Q1 25 | 4.8% | 17.9% | ||
| Q4 24 | 4.0% | 15.9% | ||
| Q3 24 | 5.1% | 11.7% | ||
| Q2 24 | 4.3% | 7.4% | ||
| Q1 24 | 5.2% | 8.5% |
现金转化率KMTNET
| Q4 25 | 1.63× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 3.64× | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | 3.08× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.06× | — | ||
| Q1 24 | 3.96× | — |
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
KMT
| Metal Cutting | $331.1M | 63% |
| Infrastructure | $198.5M | 37% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
