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Cloudflare, Inc.（NET）与Orion S.A.（OEC）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Orion S.A.的1.5倍（$614.5M vs $411.7M），Cloudflare, Inc.同比增速更快（33.6% vs -5.2%），Cloudflare, Inc.自由现金流更多（$105.2M vs $44.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -9.5%）
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。
奥里昂集团成立于1917年，总部位于芬兰埃斯波，是一家全球化运营的芬兰企业。公司面向全球市场研发、生产并销售人用与兽用药品以及药用活性成分，旗下所有生产基地及大部分研发部门均设于芬兰境内。
NET vs OEC — 直观对比
营收规模更大
NET
是对方的1.5倍
$411.7M
营收增速更快
NET
高出38.8%
-5.2%
自由现金流更多
NET
多$61.0M
$44.2M
两年增速更快
NET
近两年复合增速
-9.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $411.7M |
| 净利润 | $-12.1M | — |
| 毛利率 | 73.6% | 18.9% |
| 营业利润率 | -8.0% | 4.3% |
| 净利率 | -2.0% | — |
| 营收同比 | 33.6% | -5.2% |
| 净利润同比 | 6.0% | — |
| 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NETOEC
| Q4 25 | $614.5M | $411.7M | ||
| Q3 25 | $562.0M | $450.9M | ||
| Q2 25 | $512.3M | $466.4M | ||
| Q1 25 | $479.1M | $477.7M | ||
| Q4 24 | $459.9M | $434.2M | ||
| Q3 24 | $430.1M | $463.4M | ||
| Q2 24 | $401.0M | $477.0M | ||
| Q1 24 | $378.6M | $502.9M |
净利润NETOEC
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $-67.1M | ||
| Q2 25 | $-50.4M | $9.0M | ||
| Q1 25 | $-38.5M | $9.1M | ||
| Q4 24 | $-12.8M | — | ||
| Q3 24 | $-15.3M | $-20.2M | ||
| Q2 24 | $-15.1M | $20.5M | ||
| Q1 24 | $-35.5M | $26.7M |
毛利率NETOEC
| Q4 25 | 73.6% | 18.9% | ||
| Q3 25 | 74.0% | 19.0% | ||
| Q2 25 | 74.9% | 21.1% | ||
| Q1 25 | 75.9% | 20.5% | ||
| Q4 24 | 76.4% | 20.6% | ||
| Q3 24 | 77.7% | 23.2% | ||
| Q2 24 | 77.8% | 23.0% | ||
| Q1 24 | 77.5% | 24.3% |
营业利润率NETOEC
| Q4 25 | -8.0% | 4.3% | ||
| Q3 25 | -6.7% | -11.9% | ||
| Q2 25 | -13.1% | 6.9% | ||
| Q1 25 | -11.1% | 6.5% | ||
| Q4 24 | -7.5% | 5.4% | ||
| Q3 24 | -7.2% | -3.3% | ||
| Q2 24 | -8.7% | 8.7% | ||
| Q1 24 | -14.4% | 10.5% |
净利率NETOEC
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | -14.9% | ||
| Q2 25 | -9.8% | 1.9% | ||
| Q1 25 | -8.0% | 1.9% | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | -3.6% | -4.4% | ||
| Q2 24 | -3.8% | 4.3% | ||
| Q1 24 | -9.4% | 5.3% |
每股收益（稀释后）NETOEC
| Q4 25 | $-0.03 | $-0.36 | ||
| Q3 25 | $0.00 | $-1.20 | ||
| Q2 25 | $-0.15 | $0.16 | ||
| Q1 25 | $-0.11 | $0.16 | ||
| Q4 24 | $-0.05 | $0.31 | ||
| Q3 24 | $-0.04 | $-0.35 | ||
| Q2 24 | $-0.04 | $0.35 | ||
| Q1 24 | $-0.10 | $0.45 |
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 | $60.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $384.6M |
| 总资产 | $6.0B | $1.9B |
| 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NETOEC
| Q4 25 | $943.5M | $60.7M | ||
| Q3 25 | $1.1B | $51.3M | ||
| Q2 25 | $1.5B | $42.6M | ||
| Q1 25 | $204.5M | $37.5M | ||
| Q4 24 | $147.7M | $44.2M | ||
| Q3 24 | $182.9M | $53.2M | ||
| Q2 24 | $157.0M | $34.2M | ||
| Q1 24 | $254.4M | $43.9M |
股东权益NETOEC
| Q4 25 | $1.5B | $384.6M | ||
| Q3 25 | $1.3B | $401.8M | ||
| Q2 25 | $1.2B | $466.5M | ||
| Q1 25 | $1.4B | $466.1M | ||
| Q4 24 | $1.0B | $474.9M | ||
| Q3 24 | $973.1M | $476.3M | ||
| Q2 24 | $881.5M | $503.9M | ||
| Q1 24 | $797.2M | $492.2M |
总资产NETOEC
| Q4 25 | $6.0B | $1.9B | ||
| Q3 25 | $5.8B | $2.0B | ||
| Q2 25 | $5.6B | $2.0B | ||
| Q1 25 | $3.7B | $2.0B | ||
| Q4 24 | $3.3B | $1.9B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $2.9B | $1.9B | ||
| Q1 24 | $2.8B | $1.9B |
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 | $92.9M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $44.2M |
| 自由现金流率自由现金流/营收 | 17.1% | 10.7% |
| 资本支出强度资本支出/营收 | 13.9% | 11.8% |
| 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 | $54.8M |
8季度趋势，按日历期对齐
经营现金流NETOEC
| Q4 25 | $190.4M | $92.9M | ||
| Q3 25 | $167.1M | $68.8M | ||
| Q2 25 | $99.8M | $53.7M | ||
| Q1 25 | $145.8M | $400.0K | ||
| Q4 24 | $127.3M | $94.5M | ||
| Q3 24 | $104.7M | $-30.9M | ||
| Q2 24 | $74.8M | $29.3M | ||
| Q1 24 | $73.6M | $32.4M |
自由现金流NETOEC
| Q4 25 | $105.2M | $44.2M | ||
| Q3 25 | $82.5M | $27.9M | ||
| Q2 25 | $39.9M | $11.5M | ||
| Q1 25 | $59.9M | $-28.8M | ||
| Q4 24 | $54.2M | $23.5M | ||
| Q3 24 | $54.5M | $-78.8M | ||
| Q2 24 | $45.2M | $-25.4M | ||
| Q1 24 | $41.5M | $-700.0K |
自由现金流率NETOEC
| Q4 25 | 17.1% | 10.7% | ||
| Q3 25 | 14.7% | 6.2% | ||
| Q2 25 | 7.8% | 2.5% | ||
| Q1 25 | 12.5% | -6.0% | ||
| Q4 24 | 11.8% | 5.4% | ||
| Q3 24 | 12.7% | -17.0% | ||
| Q2 24 | 11.3% | -5.3% | ||
| Q1 24 | 11.0% | -0.1% |
资本支出强度NETOEC
| Q4 25 | 13.9% | 11.8% | ||
| Q3 25 | 15.1% | 9.1% | ||
| Q2 25 | 11.7% | 9.0% | ||
| Q1 25 | 17.9% | 6.1% | ||
| Q4 24 | 15.9% | 16.4% | ||
| Q3 24 | 11.7% | 10.3% | ||
| Q2 24 | 7.4% | 11.5% | ||
| Q1 24 | 8.5% | 6.6% |
现金转化率NETOEC
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 5.97× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.43× | ||
| Q1 24 | — | 1.21× |
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% |
OEC
| Rubber | $272.0M | 66% |
| Specialties | $139.7M | 34% |
