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迈心诺（MASI）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.的季度营收约是迈心诺的1.7倍（$614.5M vs $371.5M），Cloudflare, Inc.净利率更高（-2.0% vs -27.0%，领先25.1%），Cloudflare, Inc.同比增速更快（33.6% vs -26.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $50.9M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -17.7%）
迈心诺（Masimo Corporation）是总部位于美国加利福尼亚州尔湾的健康科技及消费电子企业，核心产品包括面向医院及家用场景的患者监护设备、无创传感器及配套软件平台，同时也布局了消费级音频和可穿戴设备赛道。
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。
MASI vs NET — 直观对比
营收规模更大
NET
是对方的1.7倍
$371.5M
营收增速更快
NET
高出60.0%
-26.4%
净利率更高
NET
高出25.1%
-27.0%
自由现金流更多
NET
多$54.3M
$50.9M
两年增速更快
NET
近两年复合增速
-17.7%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $371.5M | $614.5M |
| 净利润 | $-100.4M | $-12.1M |
| 毛利率 | 62.1% | 73.6% |
| 营业利润率 | 22.5% | -8.0% |
| 净利率 | -27.0% | -2.0% |
| 营收同比 | -26.4% | 33.6% |
| 净利润同比 | -1124.5% | 6.0% |
| 每股收益（稀释后） | $-1.84 | $-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MASINET
| Q4 25 | — | $614.5M | ||
| Q3 25 | $371.5M | $562.0M | ||
| Q2 25 | $370.9M | $512.3M | ||
| Q1 25 | $372.0M | $479.1M | ||
| Q4 24 | $600.7M | $459.9M | ||
| Q3 24 | $504.6M | $430.1M | ||
| Q2 24 | $496.3M | $401.0M | ||
| Q1 24 | $492.8M | $378.6M |
净利润MASINET
| Q4 25 | — | $-12.1M | ||
| Q3 25 | $-100.4M | $-1.3M | ||
| Q2 25 | $51.3M | $-50.4M | ||
| Q1 25 | $-170.7M | $-38.5M | ||
| Q4 24 | $-349.6M | $-12.8M | ||
| Q3 24 | $9.8M | $-15.3M | ||
| Q2 24 | $16.0M | $-15.1M | ||
| Q1 24 | $18.9M | $-35.5M |
毛利率MASINET
| Q4 25 | — | 73.6% | ||
| Q3 25 | 62.1% | 74.0% | ||
| Q2 25 | 62.9% | 74.9% | ||
| Q1 25 | 62.9% | 75.9% | ||
| Q4 24 | 40.7% | 76.4% | ||
| Q3 24 | 52.2% | 77.7% | ||
| Q2 24 | 51.3% | 77.8% | ||
| Q1 24 | 49.0% | 77.5% |
营业利润率MASINET
| Q4 25 | — | -8.0% | ||
| Q3 25 | 22.5% | -6.7% | ||
| Q2 25 | 17.4% | -13.1% | ||
| Q1 25 | 21.0% | -11.1% | ||
| Q4 24 | -59.8% | -7.5% | ||
| Q3 24 | 6.0% | -7.2% | ||
| Q2 24 | 5.7% | -8.7% | ||
| Q1 24 | 6.9% | -14.4% |
净利率MASINET
| Q4 25 | — | -2.0% | ||
| Q3 25 | -27.0% | -0.2% | ||
| Q2 25 | 13.8% | -9.8% | ||
| Q1 25 | -45.9% | -8.0% | ||
| Q4 24 | -58.2% | -2.8% | ||
| Q3 24 | 1.9% | -3.6% | ||
| Q2 24 | 3.2% | -3.8% | ||
| Q1 24 | 3.8% | -9.4% |
每股收益（稀释后）MASINET
| Q4 25 | — | $-0.03 | ||
| Q3 25 | $-1.84 | $0.00 | ||
| Q2 25 | $0.94 | $-0.15 | ||
| Q1 25 | $-3.12 | $-0.11 | ||
| Q4 24 | $-6.54 | $-0.05 | ||
| Q3 24 | $0.18 | $-0.04 | ||
| Q2 24 | $0.29 | $-0.04 | ||
| Q1 24 | $0.35 | $-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 | $312.3M | $943.5M |
| 总债务越低越好 | $559.1M | — |
| 股东权益账面价值 | $810.0M | $1.5B |
| 总资产 | $1.8B | $6.0B |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资MASINET
| Q4 25 | — | $943.5M | ||
| Q3 25 | $312.3M | $1.1B | ||
| Q2 25 | $149.6M | $1.5B | ||
| Q1 25 | $130.8M | $204.5M | ||
| Q4 24 | $177.6M | $147.7M | ||
| Q3 24 | $158.5M | $182.9M | ||
| Q2 24 | $129.6M | $157.0M | ||
| Q1 24 | $157.6M | $254.4M |
总债务MASINET
| Q4 25 | — | — | ||
| Q3 25 | $559.1M | — | ||
| Q2 25 | $613.7M | — | ||
| Q1 25 | $651.0M | — | ||
| Q4 24 | $765.2M | — | ||
| Q3 24 | $772.6M | — | ||
| Q2 24 | $781.6M | — | ||
| Q1 24 | $876.0M | — |
股东权益MASINET
| Q4 25 | — | $1.5B | ||
| Q3 25 | $810.0M | $1.3B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $946.4M | $1.4B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.5B | $973.1M | ||
| Q2 24 | $1.4B | $881.5M | ||
| Q1 24 | $1.4B | $797.2M |
总资产MASINET
| Q4 25 | — | $6.0B | ||
| Q3 25 | $1.8B | $5.8B | ||
| Q2 25 | $2.4B | $5.6B | ||
| Q1 25 | $2.3B | $3.7B | ||
| Q4 24 | $2.6B | $3.3B | ||
| Q3 24 | $3.1B | $3.1B | ||
| Q2 24 | $2.9B | $2.9B | ||
| Q1 24 | $3.0B | $2.8B |
负债/权益比MASINET
| Q4 25 | — | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.59× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | — | ||
| Q1 24 | 0.64× | — |
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 | $56.8M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $50.9M | $105.2M |
| 自由现金流率自由现金流/营收 | 13.7% | 17.1% |
| 资本支出强度资本支出/营收 | 1.6% | 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 | $191.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流MASINET
| Q4 25 | — | $190.4M | ||
| Q3 25 | $56.8M | $167.1M | ||
| Q2 25 | $69.4M | $99.8M | ||
| Q1 25 | $31.1M | $145.8M | ||
| Q4 24 | $50.5M | $127.3M | ||
| Q3 24 | $25.6M | $104.7M | ||
| Q2 24 | $74.5M | $74.8M | ||
| Q1 24 | $45.8M | $73.6M |
自由现金流MASINET
| Q4 25 | — | $105.2M | ||
| Q3 25 | $50.9M | $82.5M | ||
| Q2 25 | $65.6M | $39.9M | ||
| Q1 25 | $28.5M | $59.9M | ||
| Q4 24 | $46.0M | $54.2M | ||
| Q3 24 | $16.9M | $54.5M | ||
| Q2 24 | $66.9M | $45.2M | ||
| Q1 24 | $37.6M | $41.5M |
自由现金流率MASINET
| Q4 25 | — | 17.1% | ||
| Q3 25 | 13.7% | 14.7% | ||
| Q2 25 | 17.7% | 7.8% | ||
| Q1 25 | 7.7% | 12.5% | ||
| Q4 24 | 7.7% | 11.8% | ||
| Q3 24 | 3.3% | 12.7% | ||
| Q2 24 | 13.5% | 11.3% | ||
| Q1 24 | 7.6% | 11.0% |
资本支出强度MASINET
| Q4 25 | — | 13.9% | ||
| Q3 25 | 1.6% | 15.1% | ||
| Q2 25 | 1.0% | 11.7% | ||
| Q1 25 | 0.7% | 17.9% | ||
| Q4 24 | 0.7% | 15.9% | ||
| Q3 24 | 1.7% | 11.7% | ||
| Q2 24 | 1.5% | 7.4% | ||
| Q1 24 | 1.7% | 8.5% |
现金转化率MASINET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.35× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.61× | — | ||
| Q2 24 | 4.66× | — | ||
| Q1 24 | 2.42× | — |
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
MASI
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
