vs
Cloudflare, Inc.（NET）与NORTHERN OIL & GAS, INC.（NOG）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NORTHERN OIL & GAS, INC.的1.0倍（$614.5M vs $610.2M），Cloudflare, Inc.净利率更高（-2.0% vs -11.6%，领先9.6%），Cloudflare, Inc.同比增速更快（33.6% vs -72.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $43.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 4.3%）
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。
Marathon Oil Corporation是一家美国油气勘探开发企业，核心业务涵盖油气资源的勘探、开采与运营，2024年11月被康菲石油收购，相关业务与资产已并入康菲石油体系。
NET vs NOG — 直观对比
营收规模更大
NET
是对方的1.0倍
$610.2M
营收增速更快
NET
高出106.2%
-72.6%
净利率更高
NET
高出9.6%
-11.6%
自由现金流更多
NET
多$62.0M
$43.2M
两年增速更快
NET
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $610.2M |
| 净利润 | $-12.1M | $-70.7M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | — |
| 净利率 | -2.0% | -11.6% |
| 营收同比 | 33.6% | -72.6% |
| 净利润同比 | 6.0% | -198.7% |
| 每股收益（稀释后） | $-0.03 | $-0.73 |
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NETNOG
| Q1 26 | — | $610.2M | ||
| Q4 25 | $614.5M | $610.2M | ||
| Q3 25 | $562.0M | $556.6M | ||
| Q2 25 | $512.3M | $706.8M | ||
| Q1 25 | $479.1M | $602.1M | ||
| Q4 24 | $459.9M | $515.0M | ||
| Q3 24 | $430.1M | $753.6M | ||
| Q2 24 | $401.0M | $560.8M |
净利润NETNOG
| Q1 26 | — | $-70.7M | ||
| Q4 25 | $-12.1M | $-70.7M | ||
| Q3 25 | $-1.3M | $-129.1M | ||
| Q2 25 | $-50.4M | $99.6M | ||
| Q1 25 | $-38.5M | $139.0M | ||
| Q4 24 | $-12.8M | $71.7M | ||
| Q3 24 | $-15.3M | $298.4M | ||
| Q2 24 | $-15.1M | $138.6M |
毛利率NETNOG
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 80.4% | ||
| Q3 25 | 74.0% | 78.7% | ||
| Q2 25 | 74.9% | 82.8% | ||
| Q1 25 | 75.9% | 81.1% | ||
| Q4 24 | 76.4% | 77.4% | ||
| Q3 24 | 77.7% | 85.8% | ||
| Q2 24 | 77.8% | 82.0% |
营业利润率NETNOG
| Q1 26 | — | — | ||
| Q4 25 | -8.0% | -5.5% | ||
| Q3 25 | -6.7% | -22.6% | ||
| Q2 25 | -13.1% | 24.9% | ||
| Q1 25 | -11.1% | 38.1% | ||
| Q4 24 | -7.5% | 25.8% | ||
| Q3 24 | -7.2% | 57.6% | ||
| Q2 24 | -8.7% | 39.0% |
净利率NETNOG
| Q1 26 | — | -11.6% | ||
| Q4 25 | -2.0% | -11.6% | ||
| Q3 25 | -0.2% | -23.2% | ||
| Q2 25 | -9.8% | 14.1% | ||
| Q1 25 | -8.0% | 23.1% | ||
| Q4 24 | -2.8% | 13.9% | ||
| Q3 24 | -3.6% | 39.6% | ||
| Q2 24 | -3.8% | 24.7% |
每股收益（稀释后）NETNOG
| Q1 26 | — | $-0.73 | ||
| Q4 25 | $-0.03 | $-0.67 | ||
| Q3 25 | $0.00 | $-1.33 | ||
| Q2 25 | $-0.15 | $1.00 | ||
| Q1 25 | $-0.11 | $1.39 | ||
| Q4 24 | $-0.05 | $0.71 | ||
| Q3 24 | $-0.04 | $2.96 | ||
| Q2 24 | $-0.04 | $1.36 |
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 | $943.5M | $14.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $2.1B |
| 总资产 | $6.0B | $5.4B |
| 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NETNOG
| Q1 26 | — | $14.3M | ||
| Q4 25 | $943.5M | $14.3M | ||
| Q3 25 | $1.1B | $31.6M | ||
| Q2 25 | $1.5B | $25.9M | ||
| Q1 25 | $204.5M | $33.6M | ||
| Q4 24 | $147.7M | $8.9M | ||
| Q3 24 | $182.9M | $34.4M | ||
| Q2 24 | $157.0M | $7.8M |
总债务NETNOG
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B |
股东权益NETNOG
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.4B | $2.4B | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $973.1M | $2.3B | ||
| Q2 24 | $881.5M | $2.1B |
总资产NETNOG
| Q1 26 | — | $5.4B | ||
| Q4 25 | $6.0B | $5.4B | ||
| Q3 25 | $5.8B | $5.5B | ||
| Q2 25 | $5.6B | $5.7B | ||
| Q1 25 | $3.7B | $5.7B | ||
| Q4 24 | $3.3B | $5.6B | ||
| Q3 24 | $3.1B | $5.1B | ||
| Q2 24 | $2.9B | $4.7B |
负债/权益比NETNOG
| Q1 26 | — | — | ||
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.96× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.91× |
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 | $312.6M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $43.2M |
| 自由现金流率自由现金流/营收 | 17.1% | 7.1% |
| 资本支出强度资本支出/营收 | 13.9% | 31.5% |
| 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NETNOG
| Q1 26 | — | $312.6M | ||
| Q4 25 | $190.4M | $312.6M | ||
| Q3 25 | $167.1M | $423.1M | ||
| Q2 25 | $99.8M | $362.1M | ||
| Q1 25 | $145.8M | $407.4M | ||
| Q4 24 | $127.3M | $290.3M | ||
| Q3 24 | $104.7M | $385.8M | ||
| Q2 24 | $74.8M | $340.5M |
自由现金流NETNOG
| Q1 26 | — | $43.2M | ||
| 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NETNOG
| Q1 26 | — | 7.1% | ||
| 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NETNOG
| Q1 26 | — | 31.5% | ||
| 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NETNOG
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.64× | ||
| Q1 25 | — | 2.93× | ||
| Q4 24 | — | 4.05× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 2.46× |
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
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
NOG
| Oil and Gas Sales | $447.7M | 73% |
| Gain on Commodity Derivatives, Net | $159.3M | 26% |
| Other Revenue | $3.1M | 1% |
