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Kinetik Holdings Inc.（KNTK）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Kinetik Holdings Inc.的1.4倍（$614.5M vs $430.4M），Kinetik Holdings Inc.净利率更高（96.8% vs -2.0%，领先98.8%），Cloudflare, Inc.同比增速更快（33.6% vs 11.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-24.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 12.3%）
Kinetik Holdings Inc.是一家聚焦二叠纪盆地的中游能源基础设施供应商，为美国南部核心油气产区的上游作业方提供天然气收集、处理、运输、存储，以及原油、采出水处置等一体化服务。
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。
KNTK vs NET — 直观对比
营收规模更大
NET
是对方的1.4倍
$430.4M
营收增速更快
NET
高出22.0%
11.6%
净利率更高
KNTK
高出98.8%
-2.0%
自由现金流更多
NET
多$129.3M
$-24.0M
两年增速更快
NET
近两年复合增速
12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $430.4M | $614.5M |
| 净利润 | $416.7M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 11.2% | -8.0% |
| 净利率 | 96.8% | -2.0% |
| 营收同比 | 11.6% | 33.6% |
| 净利润同比 | 2468.4% | 6.0% |
| 每股收益（稀释后） | $2.22 | $-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KNTKNET
| Q4 25 | $430.4M | $614.5M | ||
| Q3 25 | $464.0M | $562.0M | ||
| Q2 25 | $426.7M | $512.3M | ||
| Q1 25 | $443.3M | $479.1M | ||
| Q4 24 | $385.7M | $459.9M | ||
| Q3 24 | $396.4M | $430.1M | ||
| Q2 24 | $359.5M | $401.0M | ||
| Q1 24 | $341.4M | $378.6M |
净利润KNTKNET
| Q4 25 | $416.7M | $-12.1M | ||
| Q3 25 | $5.3M | $-1.3M | ||
| Q2 25 | $23.6M | $-50.4M | ||
| Q1 25 | $19.3M | $-38.5M | ||
| Q4 24 | $16.2M | $-12.8M | ||
| Q3 24 | $25.8M | $-15.3M | ||
| Q2 24 | $37.2M | $-15.1M | ||
| Q1 24 | $233.6M | $-35.5M |
毛利率KNTKNET
| 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KNTKNET
| Q4 25 | 11.2% | -8.0% | ||
| Q3 25 | 4.3% | -6.7% | ||
| Q2 25 | 18.2% | -13.1% | ||
| Q1 25 | 4.3% | -11.1% | ||
| Q4 24 | 6.1% | -7.5% | ||
| Q3 24 | 18.4% | -7.2% | ||
| Q2 24 | 15.7% | -8.7% | ||
| Q1 24 | 7.6% | -14.4% |
净利率KNTKNET
| Q4 25 | 96.8% | -2.0% | ||
| Q3 25 | 1.1% | -0.2% | ||
| Q2 25 | 5.5% | -9.8% | ||
| Q1 25 | 4.3% | -8.0% | ||
| Q4 24 | 4.2% | -2.8% | ||
| Q3 24 | 6.5% | -3.6% | ||
| Q2 24 | 10.3% | -3.8% | ||
| Q1 24 | 68.4% | -9.4% |
每股收益（稀释后）KNTKNET
| Q4 25 | $2.22 | $-0.03 | ||
| Q3 25 | $0.03 | $0.00 | ||
| Q2 25 | $0.33 | $-0.15 | ||
| Q1 25 | $0.05 | $-0.11 | ||
| Q4 24 | $0.01 | $-0.05 | ||
| Q3 24 | $0.35 | $-0.04 | ||
| Q2 24 | $0.54 | $-0.04 | ||
| Q1 24 | $0.12 | $-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 | $4.0M | $943.5M |
| 总债务越低越好 | $3.6B | — |
| 股东权益账面价值 | $-565.4M | $1.5B |
| 总资产 | $7.1B | $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KNTKNET
| Q4 25 | $4.0M | $943.5M | ||
| Q3 25 | $7.7M | $1.1B | ||
| Q2 25 | $10.7M | $1.5B | ||
| Q1 25 | $8.8M | $204.5M | ||
| Q4 24 | $3.6M | $147.7M | ||
| Q3 24 | $20.4M | $182.9M | ||
| Q2 24 | $12.5M | $157.0M | ||
| Q1 24 | $9.8M | $254.4M |
总债务KNTKNET
| Q4 25 | $3.6B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $3.6B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | $3.5B | — |
股东权益KNTKNET
| Q4 25 | $-565.4M | $1.5B | ||
| Q3 25 | $-1.8B | $1.3B | ||
| Q2 25 | $-1.6B | $1.2B | ||
| Q1 25 | $-2.5B | $1.4B | ||
| Q4 24 | $-3.0B | $1.0B | ||
| Q3 24 | $-1.7B | $973.1M | ||
| Q2 24 | $-1.2B | $881.5M | ||
| Q1 24 | $-973.4M | $797.2M |
总资产KNTKNET
| Q4 25 | $7.1B | $6.0B | ||
| Q3 25 | $7.2B | $5.8B | ||
| Q2 25 | $7.2B | $5.6B | ||
| Q1 25 | $7.0B | $3.7B | ||
| Q4 24 | $6.8B | $3.3B | ||
| Q3 24 | $6.9B | $3.1B | ||
| Q2 24 | $6.9B | $2.9B | ||
| Q1 24 | $6.4B | $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 | $110.1M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $-24.0M | $105.2M |
| 自由现金流率自由现金流/营收 | -5.6% | 17.1% |
| 资本支出强度资本支出/营收 | 31.2% | 13.9% |
| 现金转化率经营现金流/净利润 | 0.26× | — |
| 过去12个月自由现金流最近4个季度 | $111.6M | $287.5M |
8季度趋势，按日历期对齐
经营现金流KNTKNET
| Q4 25 | $110.1M | $190.4M | ||
| Q3 25 | $188.1M | $167.1M | ||
| Q2 25 | $129.1M | $99.8M | ||
| Q1 25 | $176.8M | $145.8M | ||
| Q4 24 | $144.0M | $127.3M | ||
| Q3 24 | $214.1M | $104.7M | ||
| Q2 24 | $125.5M | $74.8M | ||
| Q1 24 | $153.7M | $73.6M |
自由现金流KNTKNET
| Q4 25 | $-24.0M | $105.2M | ||
| Q3 25 | $31.6M | $82.5M | ||
| Q2 25 | $1.8M | $39.9M | ||
| Q1 25 | $102.3M | $59.9M | ||
| Q4 24 | $36.3M | $54.2M | ||
| Q3 24 | $155.7M | $54.5M | ||
| Q2 24 | $86.1M | $45.2M | ||
| Q1 24 | $95.7M | $41.5M |
自由现金流率KNTKNET
| Q4 25 | -5.6% | 17.1% | ||
| Q3 25 | 6.8% | 14.7% | ||
| Q2 25 | 0.4% | 7.8% | ||
| Q1 25 | 23.1% | 12.5% | ||
| Q4 24 | 9.4% | 11.8% | ||
| Q3 24 | 39.3% | 12.7% | ||
| Q2 24 | 24.0% | 11.3% | ||
| Q1 24 | 28.0% | 11.0% |
资本支出强度KNTKNET
| Q4 25 | 31.2% | 13.9% | ||
| Q3 25 | 33.7% | 15.1% | ||
| Q2 25 | 29.8% | 11.7% | ||
| Q1 25 | 16.8% | 17.9% | ||
| Q4 24 | 27.9% | 15.9% | ||
| Q3 24 | 14.7% | 11.7% | ||
| Q2 24 | 11.0% | 7.4% | ||
| Q1 24 | 17.0% | 8.5% |
现金转化率KNTKNET
| Q4 25 | 0.26× | — | ||
| Q3 25 | 35.73× | — | ||
| Q2 25 | 5.46× | — | ||
| Q1 25 | 9.18× | — | ||
| Q4 24 | 8.88× | — | ||
| Q3 24 | 8.31× | — | ||
| Q2 24 | 3.37× | — | ||
| Q1 24 | 0.66× | — |
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
KNTK
| Natural Gas NG Ls And Condensate Sales | $325.5M | 76% |
| Gathering And Processing Services | $101.6M | 24% |
| Other | $3.3M | 1% |
| Barilla Draw | $2.3M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
