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Cloudflare, Inc.（NET）与纽约时报公司（NYT）财务数据对比。点击上方公司名可切换其他公司
纽约时报公司的季度营收约是Cloudflare, Inc.的1.3倍（$802.3M vs $614.5M），纽约时报公司净利率更高（16.2% vs -2.0%，领先18.1%），Cloudflare, Inc.同比增速更快（33.6% vs 10.4%），纽约时报公司自由现金流更多（$157.6M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 16.2%）
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。
纽约时报公司是美国知名大众传媒企业，总部位于纽约市曼哈顿的纽约时报大厦，旗下核心出版产品包括《纽约时报》及其国际版等系列刊物，同时运营多元媒体资产，在全球新闻传媒领域拥有较高知名度。
NET vs NYT — 直观对比
营收规模更大
NYT
是对方的1.3倍
$614.5M
营收增速更快
NET
高出23.2%
10.4%
净利率更高
NYT
高出18.1%
-2.0%
自由现金流更多
NYT
多$52.4M
$105.2M
两年增速更快
NET
近两年复合增速
16.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $802.3M |
| 净利润 | $-12.1M | $129.8M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 20.1% |
| 净利率 | -2.0% | 16.2% |
| 营收同比 | 33.6% | 10.4% |
| 净利润同比 | 6.0% | 4.9% |
| 每股收益（稀释后） | $-0.03 | $0.79 |
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NETNYT
| Q4 25 | $614.5M | $802.3M | ||
| Q3 25 | $562.0M | $700.8M | ||
| Q2 25 | $512.3M | $685.9M | ||
| Q1 25 | $479.1M | $635.9M | ||
| Q4 24 | $459.9M | $726.6M | ||
| Q3 24 | $430.1M | $640.2M | ||
| Q2 24 | $401.0M | $625.1M | ||
| Q1 24 | $378.6M | $594.0M |
净利润NETNYT
| Q4 25 | $-12.1M | $129.8M | ||
| Q3 25 | $-1.3M | $81.6M | ||
| Q2 25 | $-50.4M | $82.9M | ||
| Q1 25 | $-38.5M | $49.6M | ||
| Q4 24 | $-12.8M | $123.7M | ||
| Q3 24 | $-15.3M | $64.1M | ||
| Q2 24 | $-15.1M | $65.5M | ||
| Q1 24 | $-35.5M | $40.4M |
毛利率NETNYT
| 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NETNYT
| Q4 25 | -8.0% | 20.1% | ||
| Q3 25 | -6.7% | 15.0% | ||
| Q2 25 | -13.1% | 15.5% | ||
| Q1 25 | -11.1% | 9.2% | ||
| Q4 24 | -7.5% | 20.2% | ||
| Q3 24 | -7.2% | 12.0% | ||
| Q2 24 | -8.7% | 12.7% | ||
| Q1 24 | -14.4% | 8.1% |
净利率NETNYT
| Q4 25 | -2.0% | 16.2% | ||
| Q3 25 | -0.2% | 11.7% | ||
| Q2 25 | -9.8% | 12.1% | ||
| Q1 25 | -8.0% | 7.8% | ||
| Q4 24 | -2.8% | 17.0% | ||
| Q3 24 | -3.6% | 10.0% | ||
| Q2 24 | -3.8% | 10.5% | ||
| Q1 24 | -9.4% | 6.8% |
每股收益（稀释后）NETNYT
| Q4 25 | $-0.03 | $0.79 | ||
| Q3 25 | $0.00 | $0.50 | ||
| Q2 25 | $-0.15 | $0.50 | ||
| Q1 25 | $-0.11 | $0.30 | ||
| Q4 24 | $-0.05 | $0.74 | ||
| Q3 24 | $-0.04 | $0.39 | ||
| Q2 24 | $-0.04 | $0.40 | ||
| Q1 24 | $-0.10 | $0.24 |
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 | $642.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $2.0B |
| 总资产 | $6.0B | $3.0B |
| 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NETNYT
| Q4 25 | $943.5M | $642.2M | ||
| Q3 25 | $1.1B | $617.4M | ||
| Q2 25 | $1.5B | $540.2M | ||
| Q1 25 | $204.5M | $522.1M | ||
| Q4 24 | $147.7M | $565.9M | ||
| Q3 24 | $182.9M | $492.9M | ||
| Q2 24 | $157.0M | $411.4M | ||
| Q1 24 | $254.4M | $379.1M |
股东权益NETNYT
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $1.3B | $2.0B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.0B | $1.9B | ||
| Q3 24 | $973.1M | $1.9B | ||
| Q2 24 | $881.5M | $1.8B | ||
| Q1 24 | $797.2M | $1.7B |
总资产NETNYT
| Q4 25 | $6.0B | $3.0B | ||
| Q3 25 | $5.8B | $2.9B | ||
| Q2 25 | $5.6B | $2.8B | ||
| Q1 25 | $3.7B | $2.7B | ||
| Q4 24 | $3.3B | $2.8B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $2.9B | $2.7B | ||
| Q1 24 | $2.8B | $2.6B |
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 | $164.2M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $157.6M |
| 自由现金流率自由现金流/营收 | 17.1% | 19.6% |
| 资本支出强度资本支出/营收 | 13.9% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 1.26× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $550.5M |
8季度趋势，按日历期对齐
经营现金流NETNYT
| Q4 25 | $190.4M | $164.2M | ||
| Q3 25 | $167.1M | $207.6M | ||
| Q2 25 | $99.8M | $113.6M | ||
| Q1 25 | $145.8M | $99.1M | ||
| Q4 24 | $127.3M | $151.7M | ||
| Q3 24 | $104.7M | $125.5M | ||
| Q2 24 | $74.8M | $80.2M | ||
| Q1 24 | $73.6M | $53.1M |
自由现金流NETNYT
| Q4 25 | $105.2M | $157.6M | ||
| Q3 25 | $82.5M | $199.7M | ||
| Q2 25 | $39.9M | $103.3M | ||
| Q1 25 | $59.9M | $89.9M | ||
| Q4 24 | $54.2M | $143.6M | ||
| Q3 24 | $54.5M | $118.4M | ||
| Q2 24 | $45.2M | $72.6M | ||
| Q1 24 | $41.5M | $46.7M |
自由现金流率NETNYT
| Q4 25 | 17.1% | 19.6% | ||
| Q3 25 | 14.7% | 28.5% | ||
| Q2 25 | 7.8% | 15.1% | ||
| Q1 25 | 12.5% | 14.1% | ||
| Q4 24 | 11.8% | 19.8% | ||
| Q3 24 | 12.7% | 18.5% | ||
| Q2 24 | 11.3% | 11.6% | ||
| Q1 24 | 11.0% | 7.9% |
资本支出强度NETNYT
| Q4 25 | 13.9% | 0.8% | ||
| Q3 25 | 15.1% | 1.1% | ||
| Q2 25 | 11.7% | 1.5% | ||
| Q1 25 | 17.9% | 1.5% | ||
| Q4 24 | 15.9% | 1.1% | ||
| Q3 24 | 11.7% | 1.1% | ||
| Q2 24 | 7.4% | 1.2% | ||
| Q1 24 | 8.5% | 1.1% |
现金转化率NETNYT
| Q4 25 | — | 1.26× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | — | 2.00× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | — | 1.96× | ||
| Q2 24 | — | 1.22× | ||
| Q1 24 | — | 1.31× |
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
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
NYT
| Subscription | $510.5M | 64% |
| Advertising | $191.7M | 24% |
| Affiliate Licensing And Other Products And Services | $100.2M | 12% |
