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Mid-America Apartment Communities（MAA）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Mid-America Apartment Communities的1.1倍（$614.5M vs $553.7M），Mid-America Apartment Communities同比增速更快（438.7% vs 33.6%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 0.7%）
Mid-America Apartment Communities（股票代码：MAA）是一家公开上市的房地产投资信托基金，总部位于美国田纳西州孟菲斯市，核心业务为投资美国东南部及西南部地区的公寓物业，深耕美国高增长区域住宅不动产赛道，为股东创造稳定的长期投资回报。
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。
MAA vs NET — 直观对比
营收规模更大
NET
是对方的1.1倍
$553.7M
营收增速更快
MAA
高出405.1%
33.6%
两年增速更快
NET
近两年复合增速
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $553.7M | $614.5M |
| 净利润 | — | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | — | -8.0% |
| 净利率 | — | -2.0% |
| 营收同比 | 438.7% | 33.6% |
| 净利润同比 | — | 6.0% |
| 每股收益（稀释后） | $4.34 | $-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MAANET
| Q1 26 | $553.7M | — | ||
| Q4 25 | $555.6M | $614.5M | ||
| Q3 25 | $554.4M | $562.0M | ||
| Q2 25 | $549.9M | $512.3M | ||
| Q1 25 | $549.3M | $479.1M | ||
| Q4 24 | $549.8M | $459.9M | ||
| Q3 24 | $551.1M | $430.1M | ||
| Q2 24 | $546.4M | $401.0M |
净利润MAANET
| Q1 26 | — | — | ||
| Q4 25 | $57.6M | $-12.1M | ||
| Q3 25 | $99.5M | $-1.3M | ||
| Q2 25 | $108.1M | $-50.4M | ||
| Q1 25 | $181.7M | $-38.5M | ||
| Q4 24 | $166.6M | $-12.8M | ||
| Q3 24 | $115.2M | $-15.3M | ||
| Q2 24 | $102.0M | $-15.1M |
毛利率MAANET
| Q1 26 | — | — | ||
| 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% |
营业利润率MAANET
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | -8.0% | ||
| Q3 25 | 18.7% | -6.7% | ||
| Q2 25 | 20.2% | -13.1% | ||
| Q1 25 | 34.0% | -11.1% | ||
| Q4 24 | 31.3% | -7.5% | ||
| Q3 24 | 21.5% | -7.2% | ||
| Q2 24 | 19.3% | -8.7% |
净利率MAANET
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | -2.0% | ||
| Q3 25 | 18.0% | -0.2% | ||
| Q2 25 | 19.7% | -9.8% | ||
| Q1 25 | 33.1% | -8.0% | ||
| Q4 24 | 30.3% | -2.8% | ||
| Q3 24 | 20.9% | -3.6% | ||
| Q2 24 | 18.7% | -3.8% |
每股收益（稀释后）MAANET
| Q1 26 | $4.34 | — | ||
| Q4 25 | $0.48 | $-0.03 | ||
| Q3 25 | $0.84 | $0.00 | ||
| Q2 25 | $0.92 | $-0.15 | ||
| Q1 25 | $1.54 | $-0.11 | ||
| Q4 24 | $1.43 | $-0.05 | ||
| Q3 24 | $0.98 | $-0.04 | ||
| Q2 24 | $0.86 | $-0.04 |
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 | — | $943.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.5B |
| 总资产 | — | $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MAANET
| Q1 26 | — | — | ||
| Q4 25 | $60.3M | $943.5M | ||
| Q3 25 | $32.2M | $1.1B | ||
| Q2 25 | $54.5M | $1.5B | ||
| Q1 25 | $55.8M | $204.5M | ||
| Q4 24 | $43.0M | $147.7M | ||
| Q3 24 | $50.2M | $182.9M | ||
| Q2 24 | $62.8M | $157.0M |
股东权益MAANET
| Q1 26 | — | — | ||
| Q4 25 | $5.7B | $1.5B | ||
| Q3 25 | $5.8B | $1.3B | ||
| Q2 25 | $5.9B | $1.2B | ||
| Q1 25 | $5.9B | $1.4B | ||
| Q4 24 | $5.9B | $1.0B | ||
| Q3 24 | $5.9B | $973.1M | ||
| Q2 24 | $6.0B | $881.5M |
总资产MAANET
| Q1 26 | — | — | ||
| Q4 25 | $12.0B | $6.0B | ||
| Q3 25 | $11.9B | $5.8B | ||
| Q2 25 | $11.8B | $5.6B | ||
| Q1 25 | $11.8B | $3.7B | ||
| Q4 24 | $11.8B | $3.3B | ||
| Q3 24 | $11.8B | $3.1B | ||
| Q2 24 | $11.6B | $2.9B |
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 | — | $190.4M |
| 自由现金流经营现金流 - 资本支出 | — | $105.2M |
| 自由现金流率自由现金流/营收 | — | 17.1% |
| 资本支出强度资本支出/营收 | — | 13.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $287.5M |
8季度趋势，按日历期对齐
经营现金流MAANET
| Q1 26 | — | — | ||
| Q4 25 | $261.7M | $190.4M | ||
| Q3 25 | $266.4M | $167.1M | ||
| Q2 25 | $353.4M | $99.8M | ||
| Q1 25 | $196.6M | $145.8M | ||
| Q4 24 | $239.1M | $127.3M | ||
| Q3 24 | $309.5M | $104.7M | ||
| Q2 24 | $349.4M | $74.8M |
自由现金流MAANET
| Q1 26 | — | — | ||
| Q4 25 | $158.6M | $105.2M | ||
| Q3 25 | $170.8M | $82.5M | ||
| Q2 25 | $264.5M | $39.9M | ||
| Q1 25 | $124.0M | $59.9M | ||
| Q4 24 | $152.6M | $54.2M | ||
| Q3 24 | $215.5M | $54.5M | ||
| Q2 24 | $259.7M | $45.2M |
自由现金流率MAANET
| Q1 26 | — | — | ||
| Q4 25 | 28.5% | 17.1% | ||
| Q3 25 | 30.8% | 14.7% | ||
| Q2 25 | 48.1% | 7.8% | ||
| Q1 25 | 22.6% | 12.5% | ||
| Q4 24 | 27.8% | 11.8% | ||
| Q3 24 | 39.1% | 12.7% | ||
| Q2 24 | 47.5% | 11.3% |
资本支出强度MAANET
| Q1 26 | — | — | ||
| Q4 25 | 18.6% | 13.9% | ||
| Q3 25 | 17.2% | 15.1% | ||
| Q2 25 | 16.2% | 11.7% | ||
| Q1 25 | 13.2% | 17.9% | ||
| Q4 24 | 15.7% | 15.9% | ||
| Q3 24 | 17.1% | 11.7% | ||
| Q2 24 | 16.4% | 7.4% |
现金转化率MAANET
| Q1 26 | — | — | ||
| Q4 25 | 4.55× | — | ||
| Q3 25 | 2.68× | — | ||
| Q2 25 | 3.27× | — | ||
| Q1 25 | 1.08× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 2.69× | — | ||
| Q2 24 | 3.43× | — |
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
MAA
| Same Store Communities | $517.0M | 93% |
| Non-Same Store Communities | $22.1M | 4% |
| Lease-up/Development Communities | $7.7M | 1% |
| Commercial Property/Land | $7.0M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
