vs
美泰（MAT）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
美泰的季度营收约是Cloudflare, Inc.的1.4倍（$862.2M vs $614.5M），美泰净利率更高（7.1% vs -2.0%，领先9.0%），Cloudflare, Inc.同比增速更快（33.6% vs 4.3%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-88.1M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -10.6%）
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
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。
MAT vs NET — 直观对比
营收规模更大
MAT
是对方的1.4倍
$614.5M
营收增速更快
NET
高出29.3%
4.3%
净利率更高
MAT
高出9.0%
-2.0%
自由现金流更多
NET
多$193.3M
$-88.1M
两年增速更快
NET
近两年复合增速
-10.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $614.5M |
| 净利润 | $61.0M | $-12.1M |
| 毛利率 | 44.9% | 73.6% |
| 营业利润率 | — | -8.0% |
| 净利率 | 7.1% | -2.0% |
| 营收同比 | 4.3% | 33.6% |
| 净利润同比 | 251.4% | 6.0% |
| 每股收益（稀释后） | $0.20 | $-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MATNET
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $614.5M | ||
| Q3 25 | $1.7B | $562.0M | ||
| Q2 25 | $1.0B | $512.3M | ||
| Q1 25 | $826.6M | $479.1M | ||
| Q4 24 | $1.6B | $459.9M | ||
| Q3 24 | $1.8B | $430.1M | ||
| Q2 24 | $1.1B | $401.0M |
净利润MATNET
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $-12.1M | ||
| Q3 25 | $278.4M | $-1.3M | ||
| Q2 25 | $53.4M | $-50.4M | ||
| Q1 25 | $-40.3M | $-38.5M | ||
| Q4 24 | $140.9M | $-12.8M | ||
| Q3 24 | $372.4M | $-15.3M | ||
| Q2 24 | $56.9M | $-15.1M |
毛利率MATNET
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 73.6% | ||
| Q3 25 | 50.0% | 74.0% | ||
| Q2 25 | 50.9% | 74.9% | ||
| Q1 25 | 49.4% | 75.9% | ||
| Q4 24 | 50.7% | 76.4% | ||
| Q3 24 | 53.1% | 77.7% | ||
| Q2 24 | 49.2% | 77.8% |
营业利润率MATNET
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | -8.0% | ||
| Q3 25 | 21.9% | -6.7% | ||
| Q2 25 | 7.7% | -13.1% | ||
| Q1 25 | -6.4% | -11.1% | ||
| Q4 24 | 9.6% | -7.5% | ||
| Q3 24 | 26.5% | -7.2% | ||
| Q2 24 | 7.7% | -8.7% |
净利率MATNET
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | -2.0% | ||
| Q3 25 | 16.0% | -0.2% | ||
| Q2 25 | 5.2% | -9.8% | ||
| Q1 25 | -4.9% | -8.0% | ||
| Q4 24 | 8.6% | -2.8% | ||
| Q3 24 | 20.2% | -3.6% | ||
| Q2 24 | 5.3% | -3.8% |
每股收益（稀释后）MATNET
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $-0.03 | ||
| Q3 25 | $0.88 | $0.00 | ||
| Q2 25 | $0.16 | $-0.15 | ||
| Q1 25 | $-0.12 | $-0.11 | ||
| Q4 24 | $0.40 | $-0.05 | ||
| Q3 24 | $1.09 | $-0.04 | ||
| Q2 24 | $0.17 | $-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 | $866.0M | $943.5M |
| 总债务越低越好 | $2.3B | — |
| 股东权益账面价值 | $2.1B | $1.5B |
| 总资产 | $6.3B | $6.0B |
| 负债/权益比越低杠杆越低 | 1.11× | — |
8季度趋势，按日历期对齐
现金及短期投资MATNET
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $943.5M | ||
| Q3 25 | $691.9M | $1.1B | ||
| Q2 25 | $870.5M | $1.5B | ||
| Q1 25 | $1.2B | $204.5M | ||
| Q4 24 | $1.4B | $147.7M | ||
| Q3 24 | $723.5M | $182.9M | ||
| Q2 24 | $722.4M | $157.0M |
总债务MATNET
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.3B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — |
股东权益MATNET
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.3B | $1.3B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.3B | $1.0B | ||
| Q3 24 | $2.3B | $973.1M | ||
| Q2 24 | $2.0B | $881.5M |
总资产MATNET
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $6.0B | ||
| Q3 25 | $6.6B | $5.8B | ||
| Q2 25 | $6.2B | $5.6B | ||
| Q1 25 | $6.2B | $3.7B | ||
| Q4 24 | $6.5B | $3.3B | ||
| Q3 24 | $6.5B | $3.1B | ||
| Q2 24 | $5.9B | $2.9B |
负债/权益比MATNET
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.18× | — |
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 | $-88.1M | $105.2M |
| 自由现金流率自由现金流/营收 | -10.2% | 17.1% |
| 资本支出强度资本支出/营收 | 7.6% | 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 | — | $287.5M |
8季度趋势，按日历期对齐
经营现金流MATNET
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $190.4M | ||
| Q3 25 | $72.0M | $167.1M | ||
| Q2 25 | $-300.1M | $99.8M | ||
| Q1 25 | $24.8M | $145.8M | ||
| Q4 24 | $862.1M | $127.3M | ||
| Q3 24 | $155.8M | $104.7M | ||
| Q2 24 | $-252.9M | $74.8M |
自由现金流MATNET
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M |
自由现金流率MATNET
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% |
资本支出强度MATNET
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% |
现金转化率MATNET
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | -5.62× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | -4.45× | — |
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
MAT
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
