vs
Cloudflare, Inc.（NET）与POTLATCHDELTIC CORP（PCH）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POTLATCHDELTIC CORP的2.0倍（$614.5M vs $314.2M），POTLATCHDELTIC CORP净利率更高（8.2% vs -2.0%，领先10.2%），Cloudflare, Inc.同比增速更快（33.6% vs 23.1%），Cloudflare, Inc.自由现金流更多（$105.2M vs $50.1M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 11.1%）
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。
PotlatchDeltic是一家总部位于美国华盛顿州斯波坎的多元化林产品企业，业务覆盖林木培育、木材加工及相关林制品的生产与供应，在林业资源管理和产品研发领域拥有成熟的运营体系，为建筑、家居等多个下游行业提供优质原材料与产品解决方案。
NET vs PCH — 直观对比
营收规模更大
NET
是对方的2.0倍
$314.2M
营收增速更快
NET
高出10.5%
23.1%
净利率更高
PCH
高出10.2%
-2.0%
自由现金流更多
NET
多$55.1M
$50.1M
两年增速更快
NET
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $314.2M |
| 净利润 | $-12.1M | $25.9M |
| 毛利率 | 73.6% | 18.2% |
| 营业利润率 | -8.0% | 11.2% |
| 净利率 | -2.0% | 8.2% |
| 营收同比 | 33.6% | 23.1% |
| 净利润同比 | 6.0% | 682.5% |
| 每股收益（稀释后） | $-0.03 | $0.33 |
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NETPCH
| Q4 25 | $614.5M | — | ||
| Q3 25 | $562.0M | $314.2M | ||
| Q2 25 | $512.3M | $275.0M | ||
| Q1 25 | $479.1M | $268.3M | ||
| Q4 24 | $459.9M | $258.1M | ||
| Q3 24 | $430.1M | $255.1M | ||
| Q2 24 | $401.0M | $320.7M | ||
| Q1 24 | $378.6M | $228.1M |
净利润NETPCH
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $25.9M | ||
| Q2 25 | $-50.4M | $7.4M | ||
| Q1 25 | $-38.5M | $25.8M | ||
| Q4 24 | $-12.8M | $5.2M | ||
| Q3 24 | $-15.3M | $3.3M | ||
| Q2 24 | $-15.1M | $13.7M | ||
| Q1 24 | $-35.5M | $-305.0K |
毛利率NETPCH
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | 18.2% | ||
| Q2 25 | 74.9% | 13.0% | ||
| Q1 25 | 75.9% | 17.8% | ||
| Q4 24 | 76.4% | 13.4% | ||
| Q3 24 | 77.7% | 10.8% | ||
| Q2 24 | 77.8% | 11.9% | ||
| Q1 24 | 77.5% | 7.0% |
营业利润率NETPCH
| Q4 25 | -8.0% | — | ||
| Q3 25 | -6.7% | 11.2% | ||
| Q2 25 | -13.1% | 5.0% | ||
| Q1 25 | -11.1% | 10.3% | ||
| Q4 24 | -7.5% | 5.2% | ||
| Q3 24 | -7.2% | 2.8% | ||
| Q2 24 | -8.7% | 5.4% | ||
| Q1 24 | -14.4% | -2.1% |
净利率NETPCH
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | 8.2% | ||
| Q2 25 | -9.8% | 2.7% | ||
| Q1 25 | -8.0% | 9.6% | ||
| Q4 24 | -2.8% | 2.0% | ||
| Q3 24 | -3.6% | 1.3% | ||
| Q2 24 | -3.8% | 4.3% | ||
| Q1 24 | -9.4% | -0.1% |
每股收益（稀释后）NETPCH
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | $0.33 | ||
| Q2 25 | $-0.15 | $0.09 | ||
| Q1 25 | $-0.11 | $0.33 | ||
| Q4 24 | $-0.05 | $0.07 | ||
| Q3 24 | $-0.04 | $0.04 | ||
| Q2 24 | $-0.04 | $0.17 | ||
| Q1 24 | $-0.10 | $0.00 |
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 | $88.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.9B |
| 总资产 | $6.0B | $3.2B |
| 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NETPCH
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $88.8M | ||
| Q2 25 | $1.5B | $95.3M | ||
| Q1 25 | $204.5M | $147.5M | ||
| Q4 24 | $147.7M | $151.6M | ||
| Q3 24 | $182.9M | $161.1M | ||
| Q2 24 | $157.0M | $199.7M | ||
| Q1 24 | $254.4M | $180.2M |
总债务NETPCH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NETPCH
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $973.1M | $2.1B | ||
| Q2 24 | $881.5M | $2.1B | ||
| Q1 24 | $797.2M | $2.2B |
总资产NETPCH
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.8B | $3.2B | ||
| Q2 25 | $5.6B | $3.2B | ||
| Q1 25 | $3.7B | $3.3B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.1B | $3.3B | ||
| Q2 24 | $2.9B | $3.4B | ||
| Q1 24 | $2.8B | $3.4B |
负债/权益比NETPCH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $65.7M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $50.1M |
| 自由现金流率自由现金流/营收 | 17.1% | 15.9% |
| 资本支出强度资本支出/营收 | 13.9% | 4.9% |
| 现金转化率经营现金流/净利润 | — | 2.54× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $132.4M |
8季度趋势，按日历期对齐
经营现金流NETPCH
| Q4 25 | $190.4M | — | ||
| Q3 25 | $167.1M | $65.7M | ||
| Q2 25 | $99.8M | $41.0M | ||
| Q1 25 | $145.8M | $49.1M | ||
| Q4 24 | $127.3M | $45.4M | ||
| Q3 24 | $104.7M | $26.5M | ||
| Q2 24 | $74.8M | $100.6M | ||
| Q1 24 | $73.6M | $16.0M |
自由现金流NETPCH
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | $50.1M | ||
| Q2 25 | $39.9M | $30.6M | ||
| Q1 25 | $59.9M | $26.3M | ||
| Q4 24 | $54.2M | $25.4M | ||
| Q3 24 | $54.5M | $-8.2M | ||
| Q2 24 | $45.2M | $72.4M | ||
| Q1 24 | $41.5M | $2.0M |
自由现金流率NETPCH
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | 15.9% | ||
| Q2 25 | 7.8% | 11.1% | ||
| Q1 25 | 12.5% | 9.8% | ||
| Q4 24 | 11.8% | 9.9% | ||
| Q3 24 | 12.7% | -3.2% | ||
| Q2 24 | 11.3% | 22.6% | ||
| Q1 24 | 11.0% | 0.9% |
资本支出强度NETPCH
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | 4.9% | ||
| Q2 25 | 11.7% | 3.8% | ||
| Q1 25 | 17.9% | 8.5% | ||
| Q4 24 | 15.9% | 7.7% | ||
| Q3 24 | 11.7% | 13.6% | ||
| Q2 24 | 7.4% | 8.8% | ||
| Q1 24 | 8.5% | 6.1% |
现金转化率NETPCH
| Q4 25 | — | — | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 5.58× | ||
| Q1 25 | — | 1.90× | ||
| Q4 24 | — | 8.74× | ||
| Q3 24 | — | 7.99× | ||
| Q2 24 | — | 7.35× | ||
| Q1 24 | — | — |
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% |
PCH
| Lumber | $131.8M | 42% |
| Timberlands | $52.5M | 17% |
| Rural Real Estate | $51.3M | 16% |
| Residuals And Panels | $34.0M | 11% |
| Pulpwood | $16.7M | 5% |
| Development Real Estate | $14.6M | 5% |
| Other | $8.1M | 3% |
| Other Products | $5.2M | 2% |
