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Cloudflare, Inc.（NET）与PHIBRO ANIMAL HEALTH CORP（PAHC）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PHIBRO ANIMAL HEALTH CORP的1.6倍（$614.5M vs $373.9M），PHIBRO ANIMAL HEALTH CORP净利率更高（7.3% vs -2.0%，领先9.3%），Cloudflare, Inc.同比增速更快（33.6% vs 20.9%），Cloudflare, Inc.自由现金流更多（$105.2M vs $8.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 19.2%）
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。
菲宝罗动物保健公司是一家美国动物健康与矿物质营养企业，主营产品涵盖抗菌药、抗球虫药、驱虫药，以及畜禽营养补充剂、疫苗等。公司下设矿物质营养、功能材料、动物健康三大业务板块，收入主要来源于上述板块，业务遍及美国、拉美、加拿大、欧洲、中东、非洲及亚太地区。
NET vs PAHC — 直观对比
营收规模更大
NET
是对方的1.6倍
$373.9M
营收增速更快
NET
高出12.7%
20.9%
净利率更高
PAHC
高出9.3%
-2.0%
自由现金流更多
NET
多$97.0M
$8.3M
两年增速更快
NET
近两年复合增速
19.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $373.9M |
| 净利润 | $-12.1M | $27.5M |
| 毛利率 | 73.6% | 35.5% |
| 营业利润率 | -8.0% | 13.5% |
| 净利率 | -2.0% | 7.3% |
| 营收同比 | 33.6% | 20.9% |
| 净利润同比 | 6.0% | 762.1% |
| 每股收益（稀释后） | $-0.03 | $0.67 |
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NETPAHC
| Q4 25 | $614.5M | $373.9M | ||
| Q3 25 | $562.0M | $363.9M | ||
| Q2 25 | $512.3M | $378.7M | ||
| Q1 25 | $479.1M | $347.8M | ||
| Q4 24 | $459.9M | $309.3M | ||
| Q3 24 | $430.1M | $260.4M | ||
| Q2 24 | $401.0M | $273.2M | ||
| Q1 24 | $378.6M | $263.2M |
净利润NETPAHC
| Q4 25 | $-12.1M | $27.5M | ||
| Q3 25 | $-1.3M | $26.5M | ||
| Q2 25 | $-50.4M | $17.2M | ||
| Q1 25 | $-38.5M | $20.9M | ||
| Q4 24 | $-12.8M | $3.2M | ||
| Q3 24 | $-15.3M | $7.0M | ||
| Q2 24 | $-15.1M | $752.0K | ||
| Q1 24 | $-35.5M | $8.4M |
毛利率NETPAHC
| Q4 25 | 73.6% | 35.5% | ||
| Q3 25 | 74.0% | 32.9% | ||
| Q2 25 | 74.9% | 29.0% | ||
| Q1 25 | 75.9% | 30.1% | ||
| Q4 24 | 76.4% | 32.9% | ||
| Q3 24 | 77.7% | 32.1% | ||
| Q2 24 | 77.8% | 31.9% | ||
| Q1 24 | 77.5% | 30.2% |
营业利润率NETPAHC
| Q4 25 | -8.0% | 13.5% | ||
| Q3 25 | -6.7% | 14.1% | ||
| Q2 25 | -13.1% | 8.9% | ||
| Q1 25 | -11.1% | 9.6% | ||
| Q4 24 | -7.5% | 8.3% | ||
| Q3 24 | -7.2% | 6.8% | ||
| Q2 24 | -8.7% | 6.7% | ||
| Q1 24 | -14.4% | 7.6% |
净利率NETPAHC
| Q4 25 | -2.0% | 7.3% | ||
| Q3 25 | -0.2% | 7.3% | ||
| Q2 25 | -9.8% | 4.5% | ||
| Q1 25 | -8.0% | 6.0% | ||
| Q4 24 | -2.8% | 1.0% | ||
| Q3 24 | -3.6% | 2.7% | ||
| Q2 24 | -3.8% | 0.3% | ||
| Q1 24 | -9.4% | 3.2% |
每股收益（稀释后）NETPAHC
| Q4 25 | $-0.03 | $0.67 | ||
| Q3 25 | $0.00 | $0.65 | ||
| Q2 25 | $-0.15 | $0.43 | ||
| Q1 25 | $-0.11 | $0.51 | ||
| Q4 24 | $-0.05 | $0.08 | ||
| Q3 24 | $-0.04 | $0.17 | ||
| Q2 24 | $-0.04 | $0.02 | ||
| Q1 24 | $-0.10 | $0.21 |
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 | $74.5M |
| 总债务越低越好 | — | $624.2M |
| 股东权益账面价值 | $1.5B | $332.4M |
| 总资产 | $6.0B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 1.88× |
8季度趋势，按日历期对齐
现金及短期投资NETPAHC
| Q4 25 | $943.5M | $74.5M | ||
| Q3 25 | $1.1B | $85.3M | ||
| Q2 25 | $1.5B | $77.0M | ||
| Q1 25 | $204.5M | $70.4M | ||
| Q4 24 | $147.7M | $67.1M | ||
| Q3 24 | $182.9M | $89.8M | ||
| Q2 24 | $157.0M | $114.6M | ||
| Q1 24 | $254.4M | $98.7M |
总债务NETPAHC
| Q4 25 | — | $624.2M | ||
| Q3 25 | — | $628.0M | ||
| Q2 25 | — | $631.7M | ||
| Q1 25 | — | $635.4M | ||
| Q4 24 | — | $639.1M | ||
| Q3 24 | — | $295.2M | ||
| Q2 24 | — | $312.1M | ||
| Q1 24 | — | — |
股东权益NETPAHC
| Q4 25 | $1.5B | $332.4M | ||
| Q3 25 | $1.3B | $311.7M | ||
| Q2 25 | $1.2B | $285.7M | ||
| Q1 25 | $1.4B | $266.0M | ||
| Q4 24 | $1.0B | $246.8M | ||
| Q3 24 | $973.1M | $258.5M | ||
| Q2 24 | $881.5M | $256.6M | ||
| Q1 24 | $797.2M | $270.1M |
总资产NETPAHC
| Q4 25 | $6.0B | $1.4B | ||
| Q3 25 | $5.8B | $1.4B | ||
| Q2 25 | $5.6B | $1.4B | ||
| Q1 25 | $3.7B | $1.3B | ||
| Q4 24 | $3.3B | $1.3B | ||
| Q3 24 | $3.1B | $966.3M | ||
| Q2 24 | $2.9B | $982.2M | ||
| Q1 24 | $2.8B | $979.0M |
负债/权益比NETPAHC
| Q4 25 | — | 1.88× | ||
| Q3 25 | — | 2.01× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 2.39× | ||
| Q4 24 | — | 2.59× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.22× | ||
| Q1 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 | $19.4M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $8.3M |
| 自由现金流率自由现金流/营收 | 17.1% | 2.2% |
| 资本支出强度资本支出/营收 | 13.9% | 3.0% |
| 现金转化率经营现金流/净利润 | — | 0.70× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $47.3M |
8季度趋势，按日历期对齐
经营现金流NETPAHC
| Q4 25 | $190.4M | $19.4M | ||
| Q3 25 | $167.1M | $9.3M | ||
| Q2 25 | $99.8M | $21.3M | ||
| Q1 25 | $145.8M | $43.2M | ||
| Q4 24 | $127.3M | $3.1M | ||
| Q3 24 | $104.7M | $12.6M | ||
| Q2 24 | $74.8M | $28.4M | ||
| Q1 24 | $73.6M | $11.4M |
自由现金流NETPAHC
| Q4 25 | $105.2M | $8.3M | ||
| Q3 25 | $82.5M | $-4.5M | ||
| Q2 25 | $39.9M | $8.1M | ||
| Q1 25 | $59.9M | $35.4M | ||
| Q4 24 | $54.2M | $-4.7M | ||
| Q3 24 | $54.5M | $3.0M | ||
| Q2 24 | $45.2M | $15.4M | ||
| Q1 24 | $41.5M | $1.7M |
自由现金流率NETPAHC
| Q4 25 | 17.1% | 2.2% | ||
| Q3 25 | 14.7% | -1.2% | ||
| Q2 25 | 7.8% | 2.1% | ||
| Q1 25 | 12.5% | 10.2% | ||
| Q4 24 | 11.8% | -1.5% | ||
| Q3 24 | 12.7% | 1.2% | ||
| Q2 24 | 11.3% | 5.6% | ||
| Q1 24 | 11.0% | 0.6% |
资本支出强度NETPAHC
| Q4 25 | 13.9% | 3.0% | ||
| Q3 25 | 15.1% | 3.8% | ||
| Q2 25 | 11.7% | 3.5% | ||
| Q1 25 | 17.9% | 2.2% | ||
| Q4 24 | 15.9% | 2.5% | ||
| Q3 24 | 11.7% | 3.7% | ||
| Q2 24 | 7.4% | 4.8% | ||
| Q1 24 | 8.5% | 3.7% |
现金转化率NETPAHC
| Q4 25 | — | 0.70× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 2.07× | ||
| Q4 24 | — | 0.97× | ||
| Q3 24 | — | 1.81× | ||
| Q2 24 | — | 37.80× | ||
| Q1 24 | — | 1.36× |
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% |
PAHC
| Medicated Feed Additives And Others | $202.1M | 54% |
| Mineral Nutrition | $68.9M | 18% |
| Nutritional Specialties | $50.2M | 13% |
| Vaccines | $37.6M | 10% |
| Performance Products | $15.0M | 4% |
