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NCR Atleos Corp（NATL）与Cloudflare, Inc.（NET）财务数据对比。点击上方公司名可切换其他公司
NCR Atleos Corp的季度营收约是Cloudflare, Inc.的1.9倍（$1.2B vs $614.5M），NCR Atleos Corp净利率更高（7.2% vs -2.0%，领先9.2%），Cloudflare, Inc.同比增速更快（33.6% vs 4.0%），NCR Atleos Corp自由现金流更多（$194.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 4.9%）
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
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。
NATL vs NET — 直观对比
营收规模更大
NATL
是对方的1.9倍
$614.5M
营收增速更快
NET
高出29.6%
4.0%
净利率更高
NATL
高出9.2%
-2.0%
自由现金流更多
NATL
多$88.8M
$105.2M
两年增速更快
NET
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.5M |
| 净利润 | $83.0M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 13.5% | -8.0% |
| 净利率 | 7.2% | -2.0% |
| 营收同比 | 4.0% | 33.6% |
| 净利润同比 | 102.4% | 6.0% |
| 每股收益（稀释后） | $1.09 | $-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NATLNET
| Q4 25 | $1.2B | $614.5M | ||
| Q3 25 | $1.1B | $562.0M | ||
| Q2 25 | $1.1B | $512.3M | ||
| Q1 25 | $979.0M | $479.1M | ||
| Q4 24 | $1.1B | $459.9M | ||
| Q3 24 | $1.1B | $430.1M | ||
| Q2 24 | $1.1B | $401.0M | ||
| Q1 24 | $1.0B | $378.6M |
净利润NATLNET
| Q4 25 | $83.0M | $-12.1M | ||
| Q3 25 | $26.0M | $-1.3M | ||
| Q2 25 | $39.0M | $-50.4M | ||
| Q1 25 | $14.0M | $-38.5M | ||
| Q4 24 | $41.0M | $-12.8M | ||
| Q3 24 | $21.0M | $-15.3M | ||
| Q2 24 | $27.0M | $-15.1M | ||
| Q1 24 | $-9.0M | $-35.5M |
毛利率NATLNET
| 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% | ||
| Q1 24 | — | 77.5% |
营业利润率NATLNET
| Q4 25 | 13.5% | -8.0% | ||
| Q3 25 | 9.8% | -6.7% | ||
| Q2 25 | 10.8% | -13.1% | ||
| Q1 25 | 9.5% | -11.1% | ||
| Q4 24 | 13.4% | -7.5% | ||
| Q3 24 | 10.6% | -7.2% | ||
| Q2 24 | 9.8% | -8.7% | ||
| Q1 24 | 6.5% | -14.4% |
净利率NATLNET
| Q4 25 | 7.2% | -2.0% | ||
| Q3 25 | 2.3% | -0.2% | ||
| Q2 25 | 3.5% | -9.8% | ||
| Q1 25 | 1.4% | -8.0% | ||
| Q4 24 | 3.7% | -2.8% | ||
| Q3 24 | 2.0% | -3.6% | ||
| Q2 24 | 2.5% | -3.8% | ||
| Q1 24 | -0.9% | -9.4% |
每股收益（稀释后）NATLNET
| Q4 25 | $1.09 | $-0.03 | ||
| Q3 25 | $0.34 | $0.00 | ||
| Q2 25 | $0.52 | $-0.15 | ||
| Q1 25 | $0.19 | $-0.11 | ||
| Q4 24 | $0.56 | $-0.05 | ||
| Q3 24 | $0.28 | $-0.04 | ||
| Q2 24 | $0.37 | $-0.04 | ||
| Q1 24 | $-0.13 | $-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 | $456.0M | $943.5M |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $403.0M | $1.5B |
| 总资产 | $5.7B | $6.0B |
| 负债/权益比越低杠杆越低 | 6.63× | — |
8季度趋势，按日历期对齐
现金及短期投资NATLNET
| Q4 25 | $456.0M | $943.5M | ||
| Q3 25 | $412.0M | $1.1B | ||
| Q2 25 | $357.0M | $1.5B | ||
| Q1 25 | $352.0M | $204.5M | ||
| Q4 24 | $419.0M | $147.7M | ||
| Q3 24 | $395.0M | $182.9M | ||
| Q2 24 | $374.0M | $157.0M | ||
| Q1 24 | $343.0M | $254.4M |
总债务NATLNET
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NATLNET
| Q4 25 | $403.0M | $1.5B | ||
| Q3 25 | $330.0M | $1.3B | ||
| Q2 25 | $350.0M | $1.2B | ||
| Q1 25 | $275.0M | $1.4B | ||
| Q4 24 | $219.0M | $1.0B | ||
| Q3 24 | $264.0M | $973.1M | ||
| Q2 24 | $250.0M | $881.5M | ||
| Q1 24 | $283.0M | $797.2M |
总资产NATLNET
| Q4 25 | $5.7B | $6.0B | ||
| Q3 25 | $5.7B | $5.8B | ||
| Q2 25 | $5.8B | $5.6B | ||
| Q1 25 | $5.7B | $3.7B | ||
| Q4 24 | $5.5B | $3.3B | ||
| Q3 24 | $5.7B | $3.1B | ||
| Q2 24 | $5.8B | $2.9B | ||
| Q1 24 | $5.8B | $2.8B |
负债/权益比NATLNET
| Q4 25 | 6.63× | — | ||
| Q3 25 | 8.45× | — | ||
| Q2 25 | 8.05× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.05× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $231.0M | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $194.0M | $105.2M |
| 自由现金流率自由现金流/营收 | 16.8% | 17.1% |
| 资本支出强度资本支出/营收 | 3.2% | 13.9% |
| 现金转化率经营现金流/净利润 | 2.78× | — |
| 过去12个月自由现金流最近4个季度 | $239.0M | $287.5M |
8季度趋势，按日历期对齐
经营现金流NATLNET
| Q4 25 | $231.0M | $190.4M | ||
| Q3 25 | $25.0M | $167.1M | ||
| Q2 25 | $-23.0M | $99.8M | ||
| Q1 25 | $123.0M | $145.8M | ||
| Q4 24 | $80.0M | $127.3M | ||
| Q3 24 | $107.0M | $104.7M | ||
| Q2 24 | $9.0M | $74.8M | ||
| Q1 24 | $148.0M | $73.6M |
自由现金流NATLNET
| Q4 25 | $194.0M | $105.2M | ||
| Q3 25 | $-5.0M | $82.5M | ||
| Q2 25 | $-44.0M | $39.9M | ||
| Q1 25 | $94.0M | $59.9M | ||
| Q4 24 | $62.0M | $54.2M | ||
| Q3 24 | $85.0M | $54.5M | ||
| Q2 24 | $-14.0M | $45.2M | ||
| Q1 24 | $124.0M | $41.5M |
自由现金流率NATLNET
| Q4 25 | 16.8% | 17.1% | ||
| Q3 25 | -0.4% | 14.7% | ||
| Q2 25 | -4.0% | 7.8% | ||
| Q1 25 | 9.6% | 12.5% | ||
| Q4 24 | 5.6% | 11.8% | ||
| Q3 24 | 7.9% | 12.7% | ||
| Q2 24 | -1.3% | 11.3% | ||
| Q1 24 | 11.9% | 11.0% |
资本支出强度NATLNET
| Q4 25 | 3.2% | 13.9% | ||
| Q3 25 | 2.7% | 15.1% | ||
| Q2 25 | 1.9% | 11.7% | ||
| Q1 25 | 3.0% | 17.9% | ||
| Q4 24 | 1.6% | 15.9% | ||
| Q3 24 | 2.1% | 11.7% | ||
| Q2 24 | 2.1% | 7.4% | ||
| Q1 24 | 2.3% | 8.5% |
现金转化率NATLNET
| Q4 25 | 2.78× | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | 8.79× | — | ||
| Q4 24 | 1.95× | — | ||
| Q3 24 | 5.10× | — | ||
| Q2 24 | 0.33× | — | ||
| Q1 24 | — | — |
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
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
