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MERIT MEDICAL SYSTEMS INC（MMSI）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MERIT MEDICAL SYSTEMS INC的1.6倍（$614.5M vs $381.9M），MERIT MEDICAL SYSTEMS INC净利率更高（10.7% vs -2.0%，领先12.7%），Cloudflare, Inc.同比增速更快（33.6% vs 7.5%），Cloudflare, Inc.自由现金流更多（$105.2M vs $24.7M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.3%）
梅里特医疗系统公司是一家全球性医疗设备企业，设计、生产和销售适用于心脏病学、放射学、肿瘤学、内窥镜及重症监护领域的介入和诊断产品，为全球医院及医疗机构提供微创医疗解决方案，助力提升患者疗效和临床操作效率。
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。
MMSI vs NET — 直观对比
营收规模更大
NET
是对方的1.6倍
$381.9M
营收增速更快
NET
高出26.1%
7.5%
净利率更高
MMSI
高出12.7%
-2.0%
自由现金流更多
NET
多$80.5M
$24.7M
两年增速更快
NET
近两年复合增速
6.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $381.9M | $614.5M |
| 净利润 | $41.0M | $-12.1M |
| 毛利率 | 48.4% | 73.6% |
| 营业利润率 | 11.6% | -8.0% |
| 净利率 | 10.7% | -2.0% |
| 营收同比 | 7.5% | 33.6% |
| 净利润同比 | 36.0% | 6.0% |
| 每股收益（稀释后） | $0.68 | $-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MMSINET
| Q1 26 | $381.9M | — | ||
| Q4 25 | $393.9M | $614.5M | ||
| Q3 25 | $384.2M | $562.0M | ||
| Q2 25 | $382.5M | $512.3M | ||
| Q1 25 | $355.4M | $479.1M | ||
| Q4 24 | $355.2M | $459.9M | ||
| Q3 24 | $339.8M | $430.1M | ||
| Q2 24 | $338.0M | $401.0M |
净利润MMSINET
| Q1 26 | $41.0M | — | ||
| Q4 25 | $38.0M | $-12.1M | ||
| Q3 25 | $27.8M | $-1.3M | ||
| Q2 25 | $32.6M | $-50.4M | ||
| Q1 25 | $30.1M | $-38.5M | ||
| Q4 24 | $27.9M | $-12.8M | ||
| Q3 24 | $28.4M | $-15.3M | ||
| Q2 24 | $35.7M | $-15.1M |
毛利率MMSINET
| Q1 26 | 48.4% | — | ||
| Q4 25 | 49.6% | 73.6% | ||
| Q3 25 | 48.5% | 74.0% | ||
| Q2 25 | 48.2% | 74.9% | ||
| Q1 25 | 48.4% | 75.9% | ||
| Q4 24 | 48.7% | 76.4% | ||
| Q3 24 | 46.4% | 77.7% | ||
| Q2 24 | 47.7% | 77.8% |
营业利润率MMSINET
| Q1 26 | 11.6% | — | ||
| Q4 25 | 13.8% | -8.0% | ||
| Q3 25 | 11.1% | -6.7% | ||
| Q2 25 | 12.3% | -13.1% | ||
| Q1 25 | 11.5% | -11.1% | ||
| Q4 24 | 10.3% | -7.5% | ||
| Q3 24 | 11.0% | -7.2% | ||
| Q2 24 | 13.6% | -8.7% |
净利率MMSINET
| Q1 26 | 10.7% | — | ||
| Q4 25 | 9.6% | -2.0% | ||
| Q3 25 | 7.2% | -0.2% | ||
| Q2 25 | 8.5% | -9.8% | ||
| Q1 25 | 8.5% | -8.0% | ||
| Q4 24 | 7.9% | -2.8% | ||
| Q3 24 | 8.4% | -3.6% | ||
| Q2 24 | 10.6% | -3.8% |
每股收益（稀释后）MMSINET
| Q1 26 | $0.68 | — | ||
| Q4 25 | $0.64 | $-0.03 | ||
| Q3 25 | $0.46 | $0.00 | ||
| Q2 25 | $0.54 | $-0.15 | ||
| Q1 25 | $0.49 | $-0.11 | ||
| Q4 24 | $0.46 | $-0.05 | ||
| Q3 24 | $0.48 | $-0.04 | ||
| Q2 24 | $0.61 | $-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 | $488.1M | $943.5M |
| 总债务越低越好 | $735.2M | — |
| 股东权益账面价值 | $1.6B | $1.5B |
| 总资产 | $2.7B | $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MMSINET
| Q1 26 | $488.1M | — | ||
| Q4 25 | $446.4M | $943.5M | ||
| Q3 25 | $392.5M | $1.1B | ||
| Q2 25 | $341.8M | $1.5B | ||
| Q1 25 | $395.5M | $204.5M | ||
| Q4 24 | $376.7M | $147.7M | ||
| Q3 24 | $523.1M | $182.9M | ||
| Q2 24 | $636.7M | $157.0M |
总债务MMSINET
| Q1 26 | $735.2M | — | ||
| Q4 25 | $734.0M | — | ||
| Q3 25 | $732.9M | — | ||
| Q2 25 | $731.8M | — | ||
| Q1 25 | $730.7M | — | ||
| Q4 24 | $729.6M | — | ||
| Q3 24 | $750.5M | — | ||
| Q2 24 | $801.3M | — |
股东权益MMSINET
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.5B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.3B | $973.1M | ||
| Q2 24 | $1.3B | $881.5M |
总资产MMSINET
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $6.0B | ||
| Q3 25 | $2.6B | $5.8B | ||
| Q2 25 | $2.6B | $5.6B | ||
| Q1 25 | $2.5B | $3.7B | ||
| Q4 24 | $2.4B | $3.3B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.4B | $2.9B |
负债/权益比MMSINET
| Q1 26 | 0.45× | — | ||
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.49× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.62× | — |
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 | $24.7M | $105.2M |
| 自由现金流率自由现金流/营收 | 6.5% | 17.1% |
| 资本支出强度资本支出/营收 | 4.2% | 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 | $220.8M | $287.5M |
8季度趋势，按日历期对齐
经营现金流MMSINET
| Q1 26 | — | — | ||
| Q4 25 | $98.5M | $190.4M | ||
| Q3 25 | $75.0M | $167.1M | ||
| Q2 25 | $83.3M | $99.8M | ||
| Q1 25 | $40.6M | $145.8M | ||
| Q4 24 | $68.7M | $127.3M | ||
| Q3 24 | $47.3M | $104.7M | ||
| Q2 24 | $68.5M | $74.8M |
自由现金流MMSINET
| Q1 26 | $24.7M | — | ||
| Q4 25 | $74.0M | $105.2M | ||
| Q3 25 | $52.5M | $82.5M | ||
| Q2 25 | $69.6M | $39.9M | ||
| Q1 25 | $19.5M | $59.9M | ||
| Q4 24 | $65.3M | $54.2M | ||
| Q3 24 | $38.0M | $54.5M | ||
| Q2 24 | $57.9M | $45.2M |
自由现金流率MMSINET
| Q1 26 | 6.5% | — | ||
| Q4 25 | 18.8% | 17.1% | ||
| Q3 25 | 13.7% | 14.7% | ||
| Q2 25 | 18.2% | 7.8% | ||
| Q1 25 | 5.5% | 12.5% | ||
| Q4 24 | 18.4% | 11.8% | ||
| Q3 24 | 11.2% | 12.7% | ||
| Q2 24 | 17.1% | 11.3% |
资本支出强度MMSINET
| Q1 26 | 4.2% | — | ||
| Q4 25 | 6.2% | 13.9% | ||
| Q3 25 | 5.8% | 15.1% | ||
| Q2 25 | 3.6% | 11.7% | ||
| Q1 25 | 5.9% | 17.9% | ||
| Q4 24 | 1.0% | 15.9% | ||
| Q3 24 | 2.8% | 11.7% | ||
| Q2 24 | 3.1% | 7.4% |
现金转化率MMSINET
| Q1 26 | — | — | ||
| Q4 25 | 2.59× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.56× | — | ||
| Q1 25 | 1.35× | — | ||
| Q4 24 | 2.46× | — | ||
| Q3 24 | 1.66× | — | ||
| Q2 24 | 1.92× | — |
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
MMSI
暂无分部数据
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
