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Cloudflare, Inc.（NET）与Natera, Inc.（NTRA）财务数据对比。点击上方公司名可切换其他公司
Natera, Inc.的季度营收约是Cloudflare, Inc.的1.1倍（$665.5M vs $614.5M），Natera, Inc.净利率更高（7.1% vs -2.0%，领先9.1%），Natera, Inc.同比增速更快（39.8% vs 33.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $37.8M），过去两年Natera, Inc.的营收复合增速更高（34.5% vs 27.4%）
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。
Natera是总部位于美国得克萨斯州奥斯汀的临床基因检测企业，主打无创游离DNA（cfDNA）检测技术，业务覆盖女性健康、肿瘤及器官健康三大核心赛道。其自研专利技术结合前沿分子生物学手段与生物信息学工具矩阵，可实现单管血液样本中低至单个分子级别的高灵敏度检测。
NET vs NTRA — 直观对比
营收规模更大
NTRA
是对方的1.1倍
$614.5M
营收增速更快
NTRA
高出6.2%
33.6%
净利率更高
NTRA
高出9.1%
-2.0%
自由现金流更多
NET
多$67.4M
$37.8M
两年增速更快
NTRA
近两年复合增速
27.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $665.5M |
| 净利润 | $-12.1M | $47.3M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | -3.4% |
| 净利率 | -2.0% | 7.1% |
| 营收同比 | 33.6% | 39.8% |
| 净利润同比 | 6.0% | 187.9% |
| 每股收益（稀释后） | $-0.03 | $0.36 |
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NETNTRA
| Q4 25 | $614.5M | $665.5M | ||
| Q3 25 | $562.0M | $592.2M | ||
| Q2 25 | $512.3M | $546.6M | ||
| Q1 25 | $479.1M | $501.8M | ||
| Q4 24 | $459.9M | $476.1M | ||
| Q3 24 | $430.1M | $439.8M | ||
| Q2 24 | $401.0M | $413.4M | ||
| Q1 24 | $378.6M | $367.7M |
净利润NETNTRA
| Q4 25 | $-12.1M | $47.3M | ||
| Q3 25 | $-1.3M | $-87.5M | ||
| Q2 25 | $-50.4M | $-100.9M | ||
| Q1 25 | $-38.5M | $-66.9M | ||
| Q4 24 | $-12.8M | $-53.8M | ||
| Q3 24 | $-15.3M | $-31.6M | ||
| Q2 24 | $-15.1M | $-37.5M | ||
| Q1 24 | $-35.5M | $-67.6M |
毛利率NETNTRA
| 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NETNTRA
| Q4 25 | -8.0% | -3.4% | ||
| Q3 25 | -6.7% | -16.5% | ||
| Q2 25 | -13.1% | -20.2% | ||
| Q1 25 | -11.1% | -15.8% | ||
| Q4 24 | -7.5% | -13.6% | ||
| Q3 24 | -7.2% | -8.9% | ||
| Q2 24 | -8.7% | -10.6% | ||
| Q1 24 | -14.4% | -20.2% |
净利率NETNTRA
| Q4 25 | -2.0% | 7.1% | ||
| Q3 25 | -0.2% | -14.8% | ||
| Q2 25 | -9.8% | -18.5% | ||
| Q1 25 | -8.0% | -13.3% | ||
| Q4 24 | -2.8% | -11.3% | ||
| Q3 24 | -3.6% | -7.2% | ||
| Q2 24 | -3.8% | -9.1% | ||
| Q1 24 | -9.4% | -18.4% |
每股收益（稀释后）NETNTRA
| Q4 25 | $-0.03 | $0.36 | ||
| Q3 25 | $0.00 | $-0.64 | ||
| Q2 25 | $-0.15 | $-0.74 | ||
| Q1 25 | $-0.11 | $-0.50 | ||
| Q4 24 | $-0.05 | $-0.41 | ||
| Q3 24 | $-0.04 | $-0.26 | ||
| Q2 24 | $-0.04 | $-0.30 | ||
| Q1 24 | $-0.10 | $-0.56 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $6.0B | $2.4B |
| 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NETNTRA
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $1.0M | ||
| Q2 25 | $1.5B | $16.0M | ||
| Q1 25 | $204.5M | $17.8M | ||
| Q4 24 | $147.7M | $22.7M | ||
| Q3 24 | $182.9M | $29.5M | ||
| Q2 24 | $157.0M | $90.3M | ||
| Q1 24 | $254.4M | $69.1M |
股东权益NETNTRA
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $973.1M | $878.5M | ||
| Q2 24 | $881.5M | $836.5M | ||
| Q1 24 | $797.2M | $794.1M |
总资产NETNTRA
| Q4 25 | $6.0B | $2.4B | ||
| Q3 25 | $5.8B | $1.8B | ||
| Q2 25 | $5.6B | $1.8B | ||
| Q1 25 | $3.7B | $1.7B | ||
| Q4 24 | $3.3B | $1.7B | ||
| Q3 24 | $3.1B | $1.6B | ||
| Q2 24 | $2.9B | $1.5B | ||
| Q1 24 | $2.8B | $1.5B |
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 | $73.9M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $37.8M |
| 自由现金流率自由现金流/营收 | 17.1% | 5.7% |
| 资本支出强度资本支出/营收 | 13.9% | 5.4% |
| 现金转化率经营现金流/净利润 | — | 1.56× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $109.1M |
8季度趋势，按日历期对齐
经营现金流NETNTRA
| Q4 25 | $190.4M | $73.9M | ||
| Q3 25 | $167.1M | $59.4M | ||
| Q2 25 | $99.8M | $37.6M | ||
| Q1 25 | $145.8M | $44.5M | ||
| Q4 24 | $127.3M | $52.9M | ||
| Q3 24 | $104.7M | $51.8M | ||
| Q2 24 | $74.8M | $4.0M | ||
| Q1 24 | $73.6M | $27.0M |
自由现金流NETNTRA
| Q4 25 | $105.2M | $37.8M | ||
| Q3 25 | $82.5M | $37.0M | ||
| Q2 25 | $39.9M | $11.7M | ||
| Q1 25 | $59.9M | $22.6M | ||
| Q4 24 | $54.2M | $34.8M | ||
| Q3 24 | $54.5M | $35.5M | ||
| Q2 24 | $45.2M | $-7.7M | ||
| Q1 24 | $41.5M | $6.7M |
自由现金流率NETNTRA
| Q4 25 | 17.1% | 5.7% | ||
| Q3 25 | 14.7% | 6.2% | ||
| Q2 25 | 7.8% | 2.1% | ||
| Q1 25 | 12.5% | 4.5% | ||
| Q4 24 | 11.8% | 7.3% | ||
| Q3 24 | 12.7% | 8.1% | ||
| Q2 24 | 11.3% | -1.9% | ||
| Q1 24 | 11.0% | 1.8% |
资本支出强度NETNTRA
| Q4 25 | 13.9% | 5.4% | ||
| Q3 25 | 15.1% | 3.8% | ||
| Q2 25 | 11.7% | 4.7% | ||
| Q1 25 | 17.9% | 4.3% | ||
| Q4 24 | 15.9% | 3.8% | ||
| Q3 24 | 11.7% | 3.7% | ||
| Q2 24 | 7.4% | 2.8% | ||
| Q1 24 | 8.5% | 5.5% |
现金转化率NETNTRA
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
NTRA
暂无分部数据
