vs
Cloudflare, Inc.（NET）与OGE ENERGY CORP.（OGE）财务数据对比。点击上方公司名可切换其他公司
OGE ENERGY CORP.的季度营收约是Cloudflare, Inc.的1.2倍（$752.6M vs $614.5M），OGE ENERGY CORP.净利率更高（6.7% vs -2.0%，领先8.6%），Cloudflare, Inc.同比增速更快（33.6% vs 0.7%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 8.1%）
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。
OGE能源集团是一家受监管的公用电力企业，核心子公司俄克拉荷马燃气电力公司为俄克拉荷马州及阿肯色州超84.3万用户提供服务，覆盖俄克拉荷马城大都会区150万居民，总部设于俄克拉荷马城市中心。集团原旗下天然气管道业务Enogex于2013年与CenterPoint Energy的中游业务合并组建为Enable Midstream。
NET vs OGE — 直观对比
营收规模更大
OGE
是对方的1.2倍
$614.5M
营收增速更快
NET
高出32.9%
0.7%
净利率更高
OGE
高出8.6%
-2.0%
两年增速更快
NET
近两年复合增速
8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $752.6M |
| 净利润 | $-12.1M | $50.2M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 15.0% |
| 净利率 | -2.0% | 6.7% |
| 营收同比 | 33.6% | 0.7% |
| 净利润同比 | 6.0% | -19.9% |
| 每股收益（稀释后） | $-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NETOGE
| Q1 26 | — | $752.6M | ||
| Q4 25 | $614.5M | $701.7M | ||
| Q3 25 | $562.0M | $1.0B | ||
| Q2 25 | $512.3M | $719.7M | ||
| Q1 25 | $479.1M | $741.1M | ||
| Q4 24 | $459.9M | $744.7M | ||
| Q3 24 | $430.1M | $945.2M | ||
| Q2 24 | $401.0M | $644.1M |
净利润NETOGE
| Q1 26 | — | $50.2M | ||
| Q4 25 | $-12.1M | $69.2M | ||
| Q3 25 | $-1.3M | $231.3M | ||
| Q2 25 | $-50.4M | $107.5M | ||
| Q1 25 | $-38.5M | $62.7M | ||
| Q4 24 | $-12.8M | $101.9M | ||
| Q3 24 | $-15.3M | $218.7M | ||
| Q2 24 | $-15.1M | $102.3M |
毛利率NETOGE
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 59.2% | ||
| Q3 25 | 74.0% | 62.2% | ||
| Q2 25 | 74.9% | 63.7% | ||
| Q1 25 | 75.9% | 56.3% | ||
| Q4 24 | 76.4% | 59.7% | ||
| Q3 24 | 77.7% | 63.0% | ||
| Q2 24 | 77.8% | 69.9% |
营业利润率NETOGE
| Q1 26 | — | 15.0% | ||
| Q4 25 | -8.0% | 19.7% | ||
| Q3 25 | -6.7% | 33.2% | ||
| Q2 25 | -13.1% | 25.9% | ||
| Q1 25 | -11.1% | 18.0% | ||
| Q4 24 | -7.5% | 24.5% | ||
| Q3 24 | -7.2% | 33.1% | ||
| Q2 24 | -8.7% | 27.3% |
净利率NETOGE
| Q1 26 | — | 6.7% | ||
| Q4 25 | -2.0% | 9.9% | ||
| Q3 25 | -0.2% | 22.5% | ||
| Q2 25 | -9.8% | 14.9% | ||
| Q1 25 | -8.0% | 8.5% | ||
| Q4 24 | -2.8% | 13.7% | ||
| Q3 24 | -3.6% | 23.1% | ||
| Q2 24 | -3.8% | 15.9% |
每股收益（稀释后）NETOGE
| Q1 26 | — | — | ||
| Q4 25 | $-0.03 | $0.34 | ||
| Q3 25 | $0.00 | $1.14 | ||
| Q2 25 | $-0.15 | $0.53 | ||
| Q1 25 | $-0.11 | $0.31 | ||
| Q4 24 | $-0.05 | $0.50 | ||
| Q3 24 | $-0.04 | $1.09 | ||
| Q2 24 | $-0.04 | $0.51 |
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 | — |
| 总资产 | $6.0B | — |
| 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NETOGE
| Q1 26 | — | — | ||
| Q4 25 | $943.5M | $200.0K | ||
| Q3 25 | $1.1B | $300.0K | ||
| Q2 25 | $1.5B | $500.0K | ||
| Q1 25 | $204.5M | $26.9M | ||
| Q4 24 | $147.7M | $600.0K | ||
| Q3 24 | $182.9M | $9.9M | ||
| Q2 24 | $157.0M | $100.0K |
总债务NETOGE
| Q1 26 | — | — | ||
| Q4 25 | — | $5.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NETOGE
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $5.0B | ||
| Q3 25 | $1.3B | $4.8B | ||
| Q2 25 | $1.2B | $4.6B | ||
| Q1 25 | $1.4B | $4.6B | ||
| Q4 24 | $1.0B | $4.6B | ||
| Q3 24 | $973.1M | $4.6B | ||
| Q2 24 | $881.5M | $4.5B |
总资产NETOGE
| Q1 26 | — | — | ||
| Q4 25 | $6.0B | $14.4B | ||
| Q3 25 | $5.8B | $14.3B | ||
| Q2 25 | $5.6B | $14.1B | ||
| Q1 25 | $3.7B | $14.0B | ||
| Q4 24 | $3.3B | $13.7B | ||
| Q3 24 | $3.1B | $13.5B | ||
| Q2 24 | $2.9B | $13.2B |
负债/权益比NETOGE
| Q1 26 | — | — | ||
| Q4 25 | — | 1.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | — | — | ||
| Q2 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 | $190.4M | — |
| 自由现金流经营现金流 - 资本支出 | $105.2M | — |
| 自由现金流率自由现金流/营收 | 17.1% | — |
| 资本支出强度资本支出/营收 | 13.9% | — |
| 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NETOGE
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $384.8M | ||
| Q3 25 | $167.1M | $397.8M | ||
| Q2 25 | $99.8M | $338.6M | ||
| Q1 25 | $145.8M | $15.9M | ||
| Q4 24 | $127.3M | $129.6M | ||
| Q3 24 | $104.7M | $347.1M | ||
| Q2 24 | $74.8M | $253.1M |
自由现金流NETOGE
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $83.1M | ||
| Q3 25 | $82.5M | $168.3M | ||
| Q2 25 | $39.9M | $64.9M | ||
| Q1 25 | $59.9M | $-233.6M | ||
| Q4 24 | $54.2M | $-167.0M | ||
| Q3 24 | $54.5M | $103.0M | ||
| Q2 24 | $45.2M | $-70.2M |
自由现金流率NETOGE
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 11.8% | ||
| Q3 25 | 14.7% | 16.4% | ||
| Q2 25 | 7.8% | 9.0% | ||
| Q1 25 | 12.5% | -31.5% | ||
| Q4 24 | 11.8% | -22.4% | ||
| Q3 24 | 12.7% | 10.9% | ||
| Q2 24 | 11.3% | -10.9% |
资本支出强度NETOGE
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 43.0% | ||
| Q3 25 | 15.1% | 22.3% | ||
| Q2 25 | 11.7% | 38.0% | ||
| Q1 25 | 17.9% | 33.7% | ||
| Q4 24 | 15.9% | 39.8% | ||
| Q3 24 | 11.7% | 25.8% | ||
| Q2 24 | 7.4% | 50.2% |
现金转化率NETOGE
| Q1 26 | — | — | ||
| Q4 25 | — | 5.56× | ||
| Q3 25 | — | 1.72× | ||
| Q2 25 | — | 3.15× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.59× | ||
| Q2 24 | — | 2.47× |
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% |
OGE
| Residential | $260.4M | 35% |
| Commercial | $212.0M | 28% |
| Public authorities and street light | $61.9M | 8% |
| Industrial | $60.7M | 8% |
| Oilfield | $58.4M | 8% |
| Integrated market | $47.3M | 6% |
| Transmission | $40.7M | 5% |
