vs
Match Group（MTCH）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
Match Group的季度营收约是Cloudflare, Inc.的1.4倍（$878.0M vs $614.5M），Match Group净利率更高（23.9% vs -2.0%，领先25.8%），Cloudflare, Inc.同比增速更快（33.6% vs 2.1%），Match Group自由现金流更多（$308.1M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 1.1%）
美国互联网科技企业Match Group总部位于得克萨斯州达拉斯，旗下拥有全球规模最大的在线约会服务品牌矩阵，运营Tinder、Hinge、Plenty of Fish等多款全球知名约会产品。2020年7月公司从IAC分拆为独立上市公司，截至2019年全球付费订阅用户达930万，其中近半数来自北美地区。
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。
MTCH vs NET — 直观对比
营收规模更大
MTCH
是对方的1.4倍
$614.5M
营收增速更快
NET
高出31.5%
2.1%
净利率更高
MTCH
高出25.8%
-2.0%
自由现金流更多
MTCH
多$202.9M
$105.2M
两年增速更快
NET
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $878.0M | $614.5M |
| 净利润 | $209.7M | $-12.1M |
| 毛利率 | 74.7% | 73.6% |
| 营业利润率 | 32.4% | -8.0% |
| 净利率 | 23.9% | -2.0% |
| 营收同比 | 2.1% | 33.6% |
| 净利润同比 | 32.5% | 6.0% |
| 每股收益（稀释后） | $0.83 | $-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MTCHNET
| Q4 25 | $878.0M | $614.5M | ||
| Q3 25 | $914.3M | $562.0M | ||
| Q2 25 | $863.7M | $512.3M | ||
| Q1 25 | $831.2M | $479.1M | ||
| Q4 24 | $860.2M | $459.9M | ||
| Q3 24 | $895.5M | $430.1M | ||
| Q2 24 | $864.1M | $401.0M | ||
| Q1 24 | $859.6M | $378.6M |
净利润MTCHNET
| Q4 25 | $209.7M | $-12.1M | ||
| Q3 25 | $160.8M | $-1.3M | ||
| Q2 25 | $125.5M | $-50.4M | ||
| Q1 25 | $117.6M | $-38.5M | ||
| Q4 24 | $158.3M | $-12.8M | ||
| Q3 24 | $136.5M | $-15.3M | ||
| Q2 24 | $133.3M | $-15.1M | ||
| Q1 24 | $123.2M | $-35.5M |
毛利率MTCHNET
| Q4 25 | 74.7% | 73.6% | ||
| Q3 25 | 73.0% | 74.0% | ||
| Q2 25 | 72.0% | 74.9% | ||
| Q1 25 | 71.5% | 75.9% | ||
| Q4 24 | 72.5% | 76.4% | ||
| Q3 24 | 71.7% | 77.7% | ||
| Q2 24 | 71.6% | 77.8% | ||
| Q1 24 | 70.1% | 77.5% |
营业利润率MTCHNET
| Q4 25 | 32.4% | -8.0% | ||
| Q3 25 | 24.2% | -6.7% | ||
| Q2 25 | 22.5% | -13.1% | ||
| Q1 25 | 20.8% | -11.1% | ||
| Q4 24 | 26.0% | -7.5% | ||
| Q3 24 | 23.5% | -7.2% | ||
| Q2 24 | 23.7% | -8.7% | ||
| Q1 24 | 21.5% | -14.4% |
净利率MTCHNET
| Q4 25 | 23.9% | -2.0% | ||
| Q3 25 | 17.6% | -0.2% | ||
| Q2 25 | 14.5% | -9.8% | ||
| Q1 25 | 14.1% | -8.0% | ||
| Q4 24 | 18.4% | -2.8% | ||
| Q3 24 | 15.2% | -3.6% | ||
| Q2 24 | 15.4% | -3.8% | ||
| Q1 24 | 14.3% | -9.4% |
每股收益（稀释后）MTCHNET
| Q4 25 | $0.83 | $-0.03 | ||
| Q3 25 | $0.62 | $0.00 | ||
| Q2 25 | $0.49 | $-0.15 | ||
| Q1 25 | $0.44 | $-0.11 | ||
| Q4 24 | $0.59 | $-0.05 | ||
| Q3 24 | $0.51 | $-0.04 | ||
| Q2 24 | $0.48 | $-0.04 | ||
| Q1 24 | $0.44 | $-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 | $1.0B | $943.5M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $-253.5M | $1.5B |
| 总资产 | $4.5B | $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MTCHNET
| Q4 25 | $1.0B | $943.5M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $340.4M | $1.5B | ||
| Q1 25 | $414.2M | $204.5M | ||
| Q4 24 | $970.7M | $147.7M | ||
| Q3 24 | $860.9M | $182.9M | ||
| Q2 24 | $843.6M | $157.0M | ||
| Q1 24 | $920.9M | $254.4M |
总债务MTCHNET
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.8B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.8B | — |
股东权益MTCHNET
| Q4 25 | $-253.5M | $1.5B | ||
| Q3 25 | $-223.9M | $1.3B | ||
| Q2 25 | $-230.9M | $1.2B | ||
| Q1 25 | $-182.7M | $1.4B | ||
| Q4 24 | $-63.7M | $1.0B | ||
| Q3 24 | $-88.5M | $973.1M | ||
| Q2 24 | $-130.2M | $881.5M | ||
| Q1 24 | $-107.8M | $797.2M |
总资产MTCHNET
| Q4 25 | $4.5B | $6.0B | ||
| Q3 25 | $4.5B | $5.8B | ||
| Q2 25 | $3.9B | $5.6B | ||
| Q1 25 | $3.9B | $3.7B | ||
| Q4 24 | $4.5B | $3.3B | ||
| Q3 24 | $4.4B | $3.1B | ||
| Q2 24 | $4.4B | $2.9B | ||
| Q1 24 | $4.4B | $2.8B |
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 | $322.8M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $308.1M | $105.2M |
| 自由现金流率自由现金流/营收 | 35.1% | 17.1% |
| 资本支出强度资本支出/营收 | 1.7% | 13.9% |
| 现金转化率经营现金流/净利润 | 1.54× | — |
| 过去12个月自由现金流最近4个季度 | $1.0B | $287.5M |
8季度趋势，按日历期对齐
经营现金流MTCHNET
| Q4 25 | $322.8M | $190.4M | ||
| Q3 25 | $320.6M | $167.1M | ||
| Q2 25 | $243.8M | $99.8M | ||
| Q1 25 | $193.1M | $145.8M | ||
| Q4 24 | $254.7M | $127.3M | ||
| Q3 24 | $264.9M | $104.7M | ||
| Q2 24 | $129.0M | $74.8M | ||
| Q1 24 | $284.1M | $73.6M |
自由现金流MTCHNET
| Q4 25 | $308.1M | $105.2M | ||
| Q3 25 | $306.8M | $82.5M | ||
| Q2 25 | $231.0M | $39.9M | ||
| Q1 25 | $177.7M | $59.9M | ||
| Q4 24 | $247.1M | $54.2M | ||
| Q3 24 | $251.8M | $54.5M | ||
| Q2 24 | $116.3M | $45.2M | ||
| Q1 24 | $266.9M | $41.5M |
自由现金流率MTCHNET
| Q4 25 | 35.1% | 17.1% | ||
| Q3 25 | 33.6% | 14.7% | ||
| Q2 25 | 26.7% | 7.8% | ||
| Q1 25 | 21.4% | 12.5% | ||
| Q4 24 | 28.7% | 11.8% | ||
| Q3 24 | 28.1% | 12.7% | ||
| Q2 24 | 13.5% | 11.3% | ||
| Q1 24 | 31.0% | 11.0% |
资本支出强度MTCHNET
| Q4 25 | 1.7% | 13.9% | ||
| Q3 25 | 1.5% | 15.1% | ||
| Q2 25 | 1.5% | 11.7% | ||
| Q1 25 | 1.9% | 17.9% | ||
| Q4 24 | 0.9% | 15.9% | ||
| Q3 24 | 1.5% | 11.7% | ||
| Q2 24 | 1.5% | 7.4% | ||
| Q1 24 | 2.0% | 8.5% |
现金转化率MTCHNET
| Q4 25 | 1.54× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.94× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 1.94× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 2.31× | — |
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
MTCH
| Tinder Segment | $479.3M | 55% |
| Hinge Segment | $186.5M | 21% |
| Evergreen And Emerging Segment | $148.1M | 17% |
| MG Asia Segment | $65.8M | 7% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
