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Loews Corporation（L）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Loews Corporation的季度营收约是Cloudflare, Inc.的1.3倍（$827.0M vs $614.5M），Loews Corporation净利率更高（48.6% vs -2.0%，领先50.6%），Cloudflare, Inc.同比增速更快（33.6% vs 4.8%），Loews Corporation自由现金流更多（$426.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 7.9%）
Loews Corporation是一家总部位于美国的多元化综合企业集团，旗下子公司业务覆盖财产保险、天然气管道运输、酒店运营、油气勘探生产等核心领域，主要服务北美市场的商业、消费者及工业客户。
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。
L vs NET — 直观对比
营收规模更大
L
是对方的1.3倍
$614.5M
营收增速更快
NET
高出28.8%
4.8%
净利率更高
L
高出50.6%
-2.0%
自由现金流更多
L
多$320.8M
$105.2M
两年增速更快
NET
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $827.0M | $614.5M |
| 净利润 | $402.0M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 65.4% | -8.0% |
| 净利率 | 48.6% | -2.0% |
| 营收同比 | 4.8% | 33.6% |
| 净利润同比 | 115.0% | 6.0% |
| 每股收益（稀释后） | $1.93 | $-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LNET
| Q4 25 | $827.0M | $614.5M | ||
| Q3 25 | $732.0M | $562.0M | ||
| Q2 25 | $769.0M | $512.3M | ||
| Q1 25 | $846.0M | $479.1M | ||
| Q4 24 | $789.0M | $459.9M | ||
| Q3 24 | $683.0M | $430.1M | ||
| Q2 24 | $711.0M | $401.0M | ||
| Q1 24 | $710.0M | $378.6M |
净利润LNET
| Q4 25 | $402.0M | $-12.1M | ||
| Q3 25 | $504.0M | $-1.3M | ||
| Q2 25 | $391.0M | $-50.4M | ||
| Q1 25 | $370.0M | $-38.5M | ||
| Q4 24 | $187.0M | $-12.8M | ||
| Q3 24 | $401.0M | $-15.3M | ||
| Q2 24 | $369.0M | $-15.1M | ||
| Q1 24 | $457.0M | $-35.5M |
毛利率LNET
| 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LNET
| Q4 25 | 65.4% | -8.0% | ||
| Q3 25 | 94.1% | -6.7% | ||
| Q2 25 | 70.1% | -13.1% | ||
| Q1 25 | 60.8% | -11.1% | ||
| Q4 24 | 23.8% | -7.5% | ||
| Q3 24 | 80.5% | -7.2% | ||
| Q2 24 | 71.3% | -8.7% | ||
| Q1 24 | 88.6% | -14.4% |
净利率LNET
| Q4 25 | 48.6% | -2.0% | ||
| Q3 25 | 68.9% | -0.2% | ||
| Q2 25 | 50.8% | -9.8% | ||
| Q1 25 | 43.7% | -8.0% | ||
| Q4 24 | 23.7% | -2.8% | ||
| Q3 24 | 58.7% | -3.6% | ||
| Q2 24 | 51.9% | -3.8% | ||
| Q1 24 | 64.4% | -9.4% |
每股收益（稀释后）LNET
| Q4 25 | $1.93 | $-0.03 | ||
| Q3 25 | $2.43 | $0.00 | ||
| Q2 25 | $1.87 | $-0.15 | ||
| Q1 25 | $1.74 | $-0.11 | ||
| Q4 24 | $0.87 | $-0.05 | ||
| Q3 24 | $1.82 | $-0.04 | ||
| Q2 24 | $1.67 | $-0.04 | ||
| Q1 24 | $2.05 | $-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 | $6.0B | $943.5M |
| 总债务越低越好 | $8.4B | — |
| 股东权益账面价值 | $18.7B | $1.5B |
| 总资产 | $86.3B | $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LNET
| Q4 25 | $6.0B | $943.5M | ||
| Q3 25 | $5.4B | $1.1B | ||
| Q2 25 | $4.5B | $1.5B | ||
| Q1 25 | $4.4B | $204.5M | ||
| Q4 24 | $4.6B | $147.7M | ||
| Q3 24 | $5.2B | $182.9M | ||
| Q2 24 | $4.9B | $157.0M | ||
| Q1 24 | $5.4B | $254.4M |
总债务LNET
| Q4 25 | $8.4B | — | ||
| Q3 25 | $8.4B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $8.4B | — | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | $8.8B | — | ||
| Q2 24 | $8.6B | — | ||
| Q1 24 | $8.4B | — |
股东权益LNET
| Q4 25 | $18.7B | $1.5B | ||
| Q3 25 | $18.3B | $1.3B | ||
| Q2 25 | $17.5B | $1.2B | ||
| Q1 25 | $17.2B | $1.4B | ||
| Q4 24 | $17.1B | $1.0B | ||
| Q3 24 | $17.4B | $973.1M | ||
| Q2 24 | $16.4B | $881.5M | ||
| Q1 24 | $16.2B | $797.2M |
总资产LNET
| Q4 25 | $86.3B | $6.0B | ||
| Q3 25 | $85.9B | $5.8B | ||
| Q2 25 | $84.7B | $5.6B | ||
| Q1 25 | $83.1B | $3.7B | ||
| Q4 24 | $81.9B | $3.3B | ||
| Q3 24 | $83.6B | $3.1B | ||
| Q2 24 | $81.1B | $2.9B | ||
| Q1 24 | $80.9B | $2.8B |
负债/权益比LNET
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.46× | — | ||
| Q2 25 | 0.45× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.52× | — | ||
| Q1 24 | 0.52× | — |
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 | $617.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $426.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 51.5% | 17.1% |
| 资本支出强度资本支出/营收 | 23.1% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.53× | — |
| 过去12个月自由现金流最近4个季度 | $2.7B | $287.5M |
8季度趋势，按日历期对齐
经营现金流LNET
| Q4 25 | $617.0M | $190.4M | ||
| Q3 25 | $920.0M | $167.1M | ||
| Q2 25 | $1.0B | $99.8M | ||
| Q1 25 | $736.0M | $145.8M | ||
| Q4 24 | $941.0M | $127.3M | ||
| Q3 24 | $934.0M | $104.7M | ||
| Q2 24 | $952.0M | $74.8M | ||
| Q1 24 | $198.0M | $73.6M |
自由现金流LNET
| Q4 25 | $426.0M | $105.2M | ||
| Q3 25 | $764.0M | $82.5M | ||
| Q2 25 | $872.0M | $39.9M | ||
| Q1 25 | $638.0M | $59.9M | ||
| Q4 24 | $767.0M | $54.2M | ||
| Q3 24 | $794.0M | $54.5M | ||
| Q2 24 | $793.0M | $45.2M | ||
| Q1 24 | $39.0M | $41.5M |
自由现金流率LNET
| Q4 25 | 51.5% | 17.1% | ||
| Q3 25 | 104.4% | 14.7% | ||
| Q2 25 | 113.4% | 7.8% | ||
| Q1 25 | 75.4% | 12.5% | ||
| Q4 24 | 97.2% | 11.8% | ||
| Q3 24 | 116.3% | 12.7% | ||
| Q2 24 | 111.5% | 11.3% | ||
| Q1 24 | 5.5% | 11.0% |
资本支出强度LNET
| Q4 25 | 23.1% | 13.9% | ||
| Q3 25 | 21.3% | 15.1% | ||
| Q2 25 | 17.4% | 11.7% | ||
| Q1 25 | 11.6% | 17.9% | ||
| Q4 24 | 22.1% | 15.9% | ||
| Q3 24 | 20.5% | 11.7% | ||
| Q2 24 | 22.4% | 7.4% | ||
| Q1 24 | 22.4% | 8.5% |
现金转化率LNET
| Q4 25 | 1.53× | — | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 5.03× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 2.58× | — | ||
| Q1 24 | 0.43× | — |
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
L
| Transportation And Storage Of Natural Gas And NG Ls And Ethane Supply And Transportation Services | $601.0M | 73% |
| Lodging And Related Services | $226.0M | 27% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
