vs
Cloudflare, Inc.（NET）与Park Hotels & Resorts Inc.（PK）财务数据对比。点击上方公司名可切换其他公司
Park Hotels & Resorts Inc.的季度营收约是Cloudflare, Inc.的1.0倍（$629.0M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -32.6%，领先30.6%），Cloudflare, Inc.同比增速更快（33.6% vs 0.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-3.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -0.8%）
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。
Park Hotels & Resorts是一家总部位于美国弗吉尼亚州泰森斯的房地产投资信托（REIT），核心业务为酒店物业投资运营。该企业于2017年从希尔顿全球集团分拆成立，在酒店不动产领域拥有专业的投资与管理经验。
NET vs PK — 直观对比
营收规模更大
PK
是对方的1.0倍
$614.5M
营收增速更快
NET
高出33.0%
0.6%
净利率更高
NET
高出30.6%
-32.6%
自由现金流更多
NET
多$108.2M
$-3.0M
两年增速更快
NET
近两年复合增速
-0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $629.0M |
| 净利润 | $-12.1M | $-205.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | -26.1% |
| 净利率 | -2.0% | -32.6% |
| 营收同比 | 33.6% | 0.6% |
| 净利润同比 | 6.0% | -410.6% |
| 每股收益（稀释后） | $-0.03 | $-1.04 |
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NETPK
| Q4 25 | $614.5M | $629.0M | ||
| Q3 25 | $562.0M | $610.0M | ||
| Q2 25 | $512.3M | $672.0M | ||
| Q1 25 | $479.1M | $630.0M | ||
| Q4 24 | $459.9M | $625.0M | ||
| Q3 24 | $430.1M | $649.0M | ||
| Q2 24 | $401.0M | $686.0M | ||
| Q1 24 | $378.6M | $639.0M |
净利润NETPK
| Q4 25 | $-12.1M | $-205.0M | ||
| Q3 25 | $-1.3M | $-16.0M | ||
| Q2 25 | $-50.4M | $-5.0M | ||
| Q1 25 | $-38.5M | $-57.0M | ||
| Q4 24 | $-12.8M | $66.0M | ||
| Q3 24 | $-15.3M | $54.0M | ||
| Q2 24 | $-15.1M | $64.0M | ||
| Q1 24 | $-35.5M | $28.0M |
毛利率NETPK
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | — | ||
| Q2 25 | 74.9% | — | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.8% | — | ||
| Q1 24 | 77.5% | — |
营业利润率NETPK
| Q4 25 | -8.0% | -26.1% | ||
| Q3 25 | -6.7% | 9.7% | ||
| Q2 25 | -13.1% | 9.7% | ||
| Q1 25 | -11.1% | 1.1% | ||
| Q4 24 | -7.5% | 13.3% | ||
| Q3 24 | -7.2% | 14.6% | ||
| Q2 24 | -8.7% | 17.6% | ||
| Q1 24 | -14.4% | 14.4% |
净利率NETPK
| Q4 25 | -2.0% | -32.6% | ||
| Q3 25 | -0.2% | -2.6% | ||
| Q2 25 | -9.8% | -0.7% | ||
| Q1 25 | -8.0% | -9.0% | ||
| Q4 24 | -2.8% | 10.6% | ||
| Q3 24 | -3.6% | 8.3% | ||
| Q2 24 | -3.8% | 9.3% | ||
| Q1 24 | -9.4% | 4.4% |
每股收益（稀释后）NETPK
| Q4 25 | $-0.03 | $-1.04 | ||
| Q3 25 | $0.00 | $-0.08 | ||
| Q2 25 | $-0.15 | $-0.02 | ||
| Q1 25 | $-0.11 | $-0.29 | ||
| Q4 24 | $-0.05 | $0.32 | ||
| Q3 24 | $-0.04 | $0.26 | ||
| Q2 24 | $-0.04 | $0.30 | ||
| Q1 24 | $-0.10 | $0.13 |
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 | $232.0M |
| 总债务越低越好 | — | $3.9B |
| 股东权益账面价值 | $1.5B | $3.1B |
| 总资产 | $6.0B | $7.7B |
| 负债/权益比越低杠杆越低 | — | 1.23× |
8季度趋势，按日历期对齐
现金及短期投资NETPK
| Q4 25 | $943.5M | $232.0M | ||
| Q3 25 | $1.1B | $278.0M | ||
| Q2 25 | $1.5B | $319.0M | ||
| Q1 25 | $204.5M | $233.0M | ||
| Q4 24 | $147.7M | $402.0M | ||
| Q3 24 | $182.9M | $480.0M | ||
| Q2 24 | $157.0M | $449.0M | ||
| Q1 24 | $254.4M | $378.0M |
总债务NETPK
| Q4 25 | — | $3.9B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.9B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.8B |
股东权益NETPK
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | $1.3B | $3.4B | ||
| Q2 25 | $1.2B | $3.4B | ||
| Q1 25 | $1.4B | $3.5B | ||
| Q4 24 | $1.0B | $3.6B | ||
| Q3 24 | $973.1M | $3.8B | ||
| Q2 24 | $881.5M | $3.8B | ||
| Q1 24 | $797.2M | $3.8B |
总资产NETPK
| Q4 25 | $6.0B | $7.7B | ||
| Q3 25 | $5.8B | $8.8B | ||
| Q2 25 | $5.6B | $8.9B | ||
| Q1 25 | $3.7B | $8.9B | ||
| Q4 24 | $3.3B | $9.2B | ||
| Q3 24 | $3.1B | $9.2B | ||
| Q2 24 | $2.9B | $9.2B | ||
| Q1 24 | $2.8B | $9.1B |
负债/权益比NETPK
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.06× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.00× |
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 | $105.0M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $-3.0M |
| 自由现金流率自由现金流/营收 | 17.1% | -0.5% |
| 资本支出强度资本支出/营收 | 13.9% | 17.2% |
| 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 | $102.0M |
8季度趋势，按日历期对齐
经营现金流NETPK
| Q4 25 | $190.4M | $105.0M | ||
| Q3 25 | $167.1M | $99.0M | ||
| Q2 25 | $99.8M | $108.0M | ||
| Q1 25 | $145.8M | $86.0M | ||
| Q4 24 | $127.3M | $80.0M | ||
| Q3 24 | $104.7M | $140.0M | ||
| Q2 24 | $74.8M | $117.0M | ||
| Q1 24 | $73.6M | $92.0M |
自由现金流NETPK
| Q4 25 | $105.2M | $-3.0M | ||
| Q3 25 | $82.5M | $31.0M | ||
| Q2 25 | $39.9M | $65.0M | ||
| Q1 25 | $59.9M | $9.0M | ||
| Q4 24 | $54.2M | $17.0M | ||
| Q3 24 | $54.5M | $97.0M | ||
| Q2 24 | $45.2M | $66.0M | ||
| Q1 24 | $41.5M | $22.0M |
自由现金流率NETPK
| Q4 25 | 17.1% | -0.5% | ||
| Q3 25 | 14.7% | 5.1% | ||
| Q2 25 | 7.8% | 9.7% | ||
| Q1 25 | 12.5% | 1.4% | ||
| Q4 24 | 11.8% | 2.7% | ||
| Q3 24 | 12.7% | 14.9% | ||
| Q2 24 | 11.3% | 9.6% | ||
| Q1 24 | 11.0% | 3.4% |
资本支出强度NETPK
| Q4 25 | 13.9% | 17.2% | ||
| Q3 25 | 15.1% | 11.1% | ||
| Q2 25 | 11.7% | 6.4% | ||
| Q1 25 | 17.9% | 12.2% | ||
| Q4 24 | 15.9% | 10.1% | ||
| Q3 24 | 11.7% | 6.6% | ||
| Q2 24 | 7.4% | 7.4% | ||
| Q1 24 | 8.5% | 11.0% |
现金转化率NETPK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.21× | ||
| Q3 24 | — | 2.59× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | — | 3.29× |
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% |
PK
| Occupancy | $371.0M | 59% |
| Food And Beverage | $173.0M | 28% |
| Ancillary Hotel | $61.0M | 10% |
| Hotel Other | $24.0M | 4% |
