vs
Cloudflare, Inc.（NET）与Opendoor Technologies Inc.（OPEN）财务数据对比。点击上方公司名可切换其他公司
Opendoor Technologies Inc.的季度营收约是Cloudflare, Inc.的1.2倍（$736.0M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -148.9%，领先146.9%），Cloudflare, Inc.同比增速更快（33.6% vs -32.1%），Cloudflare, Inc.自由现金流更多（$105.2M vs $67.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -21.1%）
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。
Opendoor Technologies Inc.是一家主营住宅房地产买卖的线上企业，总部位于旧金山。平台可通过线上流程向房主提供房屋即时现金报价，收购房产后进行修缮再重新挂牌出售，同时还提供基于移动端应用的购房服务及配套融资方案，截至2021年11月业务覆盖美国44个区域市场。
NET vs OPEN — 直观对比
营收规模更大
OPEN
是对方的1.2倍
$614.5M
营收增速更快
NET
高出65.7%
-32.1%
净利率更高
NET
高出146.9%
-148.9%
自由现金流更多
NET
多$38.2M
$67.0M
两年增速更快
NET
近两年复合增速
-21.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $736.0M |
| 净利润 | $-12.1M | $-1.1B |
| 毛利率 | 73.6% | 7.7% |
| 营业利润率 | -8.0% | -20.4% |
| 净利率 | -2.0% | -148.9% |
| 营收同比 | 33.6% | -32.1% |
| 净利润同比 | 6.0% | -869.9% |
| 每股收益（稀释后） | $-0.03 | $-1.42 |
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NETOPEN
| Q4 25 | $614.5M | $736.0M | ||
| Q3 25 | $562.0M | $915.0M | ||
| Q2 25 | $512.3M | $1.6B | ||
| Q1 25 | $479.1M | $1.2B | ||
| Q4 24 | $459.9M | $1.1B | ||
| Q3 24 | $430.1M | $1.4B | ||
| Q2 24 | $401.0M | $1.5B | ||
| Q1 24 | $378.6M | $1.2B |
净利润NETOPEN
| Q4 25 | $-12.1M | $-1.1B | ||
| Q3 25 | $-1.3M | $-90.0M | ||
| Q2 25 | $-50.4M | $-29.0M | ||
| Q1 25 | $-38.5M | $-85.0M | ||
| Q4 24 | $-12.8M | $-113.0M | ||
| Q3 24 | $-15.3M | $-78.0M | ||
| Q2 24 | $-15.1M | $-92.0M | ||
| Q1 24 | $-35.5M | $-109.0M |
毛利率NETOPEN
| Q4 25 | 73.6% | 7.7% | ||
| Q3 25 | 74.0% | 7.2% | ||
| Q2 25 | 74.9% | 8.2% | ||
| Q1 25 | 75.9% | 8.6% | ||
| Q4 24 | 76.4% | 7.8% | ||
| Q3 24 | 77.7% | 7.6% | ||
| Q2 24 | 77.8% | 8.5% | ||
| Q1 24 | 77.5% | 9.7% |
营业利润率NETOPEN
| Q4 25 | -8.0% | -20.4% | ||
| Q3 25 | -6.7% | -7.4% | ||
| Q2 25 | -13.1% | -0.8% | ||
| Q1 25 | -11.1% | -4.9% | ||
| Q4 24 | -7.5% | -8.7% | ||
| Q3 24 | -7.2% | -4.9% | ||
| Q2 24 | -8.7% | -4.8% | ||
| Q1 24 | -14.4% | -7.4% |
净利率NETOPEN
| Q4 25 | -2.0% | -148.9% | ||
| Q3 25 | -0.2% | -9.8% | ||
| Q2 25 | -9.8% | -1.9% | ||
| Q1 25 | -8.0% | -7.4% | ||
| Q4 24 | -2.8% | -10.4% | ||
| Q3 24 | -3.6% | -5.7% | ||
| Q2 24 | -3.8% | -6.1% | ||
| Q1 24 | -9.4% | -9.2% |
每股收益（稀释后）NETOPEN
| Q4 25 | $-0.03 | $-1.42 | ||
| Q3 25 | $0.00 | $-0.12 | ||
| Q2 25 | $-0.15 | $-0.04 | ||
| Q1 25 | $-0.11 | $-0.12 | ||
| Q4 24 | $-0.05 | $-0.16 | ||
| Q3 24 | $-0.04 | $-0.11 | ||
| Q2 24 | $-0.04 | $-0.13 | ||
| Q1 24 | $-0.10 | $-0.16 |
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 | $962.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.0B |
| 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NETOPEN
| Q4 25 | $943.5M | $962.0M | ||
| Q3 25 | $1.1B | $962.0M | ||
| Q2 25 | $1.5B | $789.0M | ||
| Q1 25 | $204.5M | $559.0M | ||
| Q4 24 | $147.7M | $679.0M | ||
| Q3 24 | $182.9M | $837.0M | ||
| Q2 24 | $157.0M | $809.0M | ||
| Q1 24 | $254.4M | $990.0M |
股东权益NETOPEN
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.3B | $811.0M | ||
| Q2 25 | $1.2B | $631.0M | ||
| Q1 25 | $1.4B | $645.0M | ||
| Q4 24 | $1.0B | $713.0M | ||
| Q3 24 | $973.1M | $801.0M | ||
| Q2 24 | $881.5M | $845.0M | ||
| Q1 24 | $797.2M | $899.0M |
总资产NETOPEN
| Q4 25 | $6.0B | $2.4B | ||
| Q3 25 | $5.8B | $2.7B | ||
| Q2 25 | $5.6B | $2.9B | ||
| Q1 25 | $3.7B | $3.3B | ||
| Q4 24 | $3.3B | $3.1B | ||
| Q3 24 | $3.1B | $3.4B | ||
| Q2 24 | $2.9B | $3.4B | ||
| Q1 24 | $2.8B | $3.4B |
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 | $70.0M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $67.0M |
| 自由现金流率自由现金流/营收 | 17.1% | 9.1% |
| 资本支出强度资本支出/营收 | 13.9% | 0.4% |
| 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 | $1.0B |
8季度趋势，按日历期对齐
经营现金流NETOPEN
| Q4 25 | $190.4M | $70.0M | ||
| Q3 25 | $167.1M | $435.0M | ||
| Q2 25 | $99.8M | $823.0M | ||
| Q1 25 | $145.8M | $-279.0M | ||
| Q4 24 | $127.3M | $-80.0M | ||
| Q3 24 | $104.7M | $62.0M | ||
| Q2 24 | $74.8M | $-399.0M | ||
| Q1 24 | $73.6M | $-178.0M |
自由现金流NETOPEN
| Q4 25 | $105.2M | $67.0M | ||
| Q3 25 | $82.5M | $432.0M | ||
| Q2 25 | $39.9M | $821.0M | ||
| Q1 25 | $59.9M | $-283.0M | ||
| Q4 24 | $54.2M | $-83.0M | ||
| Q3 24 | $54.5M | $56.0M | ||
| Q2 24 | $45.2M | $-407.0M | ||
| Q1 24 | $41.5M | $-186.0M |
自由现金流率NETOPEN
| Q4 25 | 17.1% | 9.1% | ||
| Q3 25 | 14.7% | 47.2% | ||
| Q2 25 | 7.8% | 52.4% | ||
| Q1 25 | 12.5% | -24.5% | ||
| Q4 24 | 11.8% | -7.7% | ||
| Q3 24 | 12.7% | 4.1% | ||
| Q2 24 | 11.3% | -26.9% | ||
| Q1 24 | 11.0% | -15.7% |
资本支出强度NETOPEN
| Q4 25 | 13.9% | 0.4% | ||
| Q3 25 | 15.1% | 0.3% | ||
| Q2 25 | 11.7% | 0.1% | ||
| Q1 25 | 17.9% | 0.3% | ||
| Q4 24 | 15.9% | 0.3% | ||
| Q3 24 | 11.7% | 0.4% | ||
| Q2 24 | 7.4% | 0.5% | ||
| Q1 24 | 8.5% | 0.7% |
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% |
OPEN
暂无分部数据
