vs
雷诺士国际（LII）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
雷诺士国际的季度营收约是Cloudflare, Inc.的1.9倍（$1.2B vs $614.5M），雷诺士国际净利率更高（13.6% vs -2.0%，领先15.5%），Cloudflare, Inc.同比增速更快（33.6% vs -11.2%），雷诺士国际自由现金流更多（$376.7M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.8%）
雷诺士国际是美国知名的暖通空调（HVAC）及制冷领域气候控制产品供应商，总部位于得克萨斯州理查森。公司在墨西哥萨尔蒂约、美国爱荷华州马歇尔敦、南卡罗来纳州奥兰治堡设有核心生产基地，1904年收购公司的诺里斯家族后裔约翰·W·诺里斯三世持有其9.8%的股份。
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。
LII vs NET — 直观对比
营收规模更大
LII
是对方的1.9倍
$614.5M
营收增速更快
NET
高出44.8%
-11.2%
净利率更高
LII
高出15.5%
-2.0%
自由现金流更多
LII
多$271.5M
$105.2M
两年增速更快
NET
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.5M |
| 净利润 | $162.1M | $-12.1M |
| 毛利率 | 34.7% | 73.6% |
| 营业利润率 | 18.6% | -8.0% |
| 净利率 | 13.6% | -2.0% |
| 营收同比 | -11.2% | 33.6% |
| 净利润同比 | -18.0% | 6.0% |
| 每股收益（稀释后） | $4.62 | $-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LIINET
| Q4 25 | $1.2B | $614.5M | ||
| Q3 25 | $1.4B | $562.0M | ||
| Q2 25 | $1.5B | $512.3M | ||
| Q1 25 | $1.1B | $479.1M | ||
| Q4 24 | $1.3B | $459.9M | ||
| Q3 24 | $1.5B | $430.1M | ||
| Q2 24 | $1.5B | $401.0M | ||
| Q1 24 | $1.0B | $378.6M |
净利润LIINET
| Q4 25 | $162.1M | $-12.1M | ||
| Q3 25 | $245.8M | $-1.3M | ||
| Q2 25 | $277.6M | $-50.4M | ||
| Q1 25 | $120.3M | $-38.5M | ||
| Q4 24 | $197.7M | $-12.8M | ||
| Q3 24 | $239.0M | $-15.3M | ||
| Q2 24 | $245.9M | $-15.1M | ||
| Q1 24 | $124.3M | $-35.5M |
毛利率LIINET
| Q4 25 | 34.7% | 73.6% | ||
| Q3 25 | 32.8% | 74.0% | ||
| Q2 25 | 34.8% | 74.9% | ||
| Q1 25 | 30.6% | 75.9% | ||
| Q4 24 | 33.9% | 76.4% | ||
| Q3 24 | 32.6% | 77.7% | ||
| Q2 24 | 33.6% | 77.8% | ||
| Q1 24 | 32.5% | 77.5% |
营业利润率LIINET
| Q4 25 | 18.6% | -8.0% | ||
| Q3 25 | 21.7% | -6.7% | ||
| Q2 25 | 23.6% | -13.1% | ||
| Q1 25 | 14.5% | -11.1% | ||
| Q4 24 | 18.2% | -7.5% | ||
| Q3 24 | 20.2% | -7.2% | ||
| Q2 24 | 22.1% | -8.7% | ||
| Q1 24 | 15.9% | -14.4% |
净利率LIINET
| Q4 25 | 13.6% | -2.0% | ||
| Q3 25 | 17.2% | -0.2% | ||
| Q2 25 | 18.5% | -9.8% | ||
| Q1 25 | 11.2% | -8.0% | ||
| Q4 24 | 14.7% | -2.8% | ||
| Q3 24 | 16.0% | -3.6% | ||
| Q2 24 | 16.9% | -3.8% | ||
| Q1 24 | 11.9% | -9.4% |
每股收益（稀释后）LIINET
| Q4 25 | $4.62 | $-0.03 | ||
| Q3 25 | $6.98 | $0.00 | ||
| Q2 25 | $7.82 | $-0.15 | ||
| Q1 25 | $3.37 | $-0.11 | ||
| Q4 24 | $5.52 | $-0.05 | ||
| Q3 24 | $6.68 | $-0.04 | ||
| Q2 24 | $6.87 | $-0.04 | ||
| Q1 24 | $3.47 | $-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 | $34.7M | $943.5M |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $1.2B | $1.5B |
| 总资产 | $4.1B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.98× | — |
8季度趋势，按日历期对齐
现金及短期投资LIINET
| Q4 25 | $34.7M | $943.5M | ||
| Q3 25 | $59.2M | $1.1B | ||
| Q2 25 | $55.1M | $1.5B | ||
| Q1 25 | $222.9M | $204.5M | ||
| Q4 24 | $422.3M | $147.7M | ||
| Q3 24 | $255.7M | $182.9M | ||
| Q2 24 | $57.8M | $157.0M | ||
| Q1 24 | $57.6M | $254.4M |
总债务LIINET
| Q4 25 | $1.1B | — | ||
| Q3 25 | $838.2M | — | ||
| Q2 25 | $835.7M | — | ||
| Q1 25 | $834.2M | — | ||
| Q4 24 | $833.1M | — | ||
| Q3 24 | $827.6M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
股东权益LIINET
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $900.5M | $1.2B | ||
| Q1 25 | $852.5M | $1.4B | ||
| Q4 24 | $850.2M | $1.0B | ||
| Q3 24 | $754.0M | $973.1M | ||
| Q2 24 | $577.4M | $881.5M | ||
| Q1 24 | $368.8M | $797.2M |
总资产LIINET
| Q4 25 | $4.1B | $6.0B | ||
| Q3 25 | $3.5B | $5.8B | ||
| Q2 25 | $3.7B | $5.6B | ||
| Q1 25 | $3.5B | $3.7B | ||
| Q4 24 | $3.5B | $3.3B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.2B | $2.9B | ||
| Q1 24 | $3.0B | $2.8B |
负债/权益比LIINET
| Q4 25 | 0.98× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 1.95× | — | ||
| Q1 24 | 3.13× | — |
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 | $405.9M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $376.7M | $105.2M |
| 自由现金流率自由现金流/营收 | 31.5% | 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 | 2.50× | — |
| 过去12个月自由现金流最近4个季度 | $638.8M | $287.5M |
8季度趋势，按日历期对齐
经营现金流LIINET
| Q4 25 | $405.9M | $190.4M | ||
| Q3 25 | $300.7M | $167.1M | ||
| Q2 25 | $86.8M | $99.8M | ||
| Q1 25 | $-35.8M | $145.8M | ||
| Q4 24 | $332.4M | $127.3M | ||
| Q3 24 | $452.1M | $104.7M | ||
| Q2 24 | $184.0M | $74.8M | ||
| Q1 24 | $-22.8M | $73.6M |
自由现金流LIINET
| Q4 25 | $376.7M | $105.2M | ||
| Q3 25 | $265.1M | $82.5M | ||
| Q2 25 | $58.3M | $39.9M | ||
| Q1 25 | $-61.3M | $59.9M | ||
| Q4 24 | $272.2M | $54.2M | ||
| Q3 24 | $410.9M | $54.5M | ||
| Q2 24 | $151.3M | $45.2M | ||
| Q1 24 | $-52.3M | $41.5M |
自由现金流率LIINET
| Q4 25 | 31.5% | 17.1% | ||
| Q3 25 | 18.6% | 14.7% | ||
| Q2 25 | 3.9% | 7.8% | ||
| Q1 25 | -5.7% | 12.5% | ||
| Q4 24 | 20.2% | 11.8% | ||
| Q3 24 | 27.4% | 12.7% | ||
| Q2 24 | 10.4% | 11.3% | ||
| Q1 24 | -5.0% | 11.0% |
资本支出强度LIINET
| Q4 25 | 2.4% | 13.9% | ||
| Q3 25 | 2.5% | 15.1% | ||
| Q2 25 | 1.9% | 11.7% | ||
| Q1 25 | 2.4% | 17.9% | ||
| Q4 24 | 4.5% | 15.9% | ||
| Q3 24 | 2.8% | 11.7% | ||
| Q2 24 | 2.3% | 7.4% | ||
| Q1 24 | 2.8% | 8.5% |
现金转化率LIINET
| Q4 25 | 2.50× | — | ||
| Q3 25 | 1.22× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | -0.30× | — | ||
| Q4 24 | 1.68× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | -0.18× | — |
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
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
