vs
Cloudflare, Inc.（NET）与PORTLAND GENERAL ELECTRIC CO（POR）财务数据对比。点击上方公司名可切换其他公司
PORTLAND GENERAL ELECTRIC CO的季度营收约是Cloudflare, Inc.的1.4倍（$889.0M vs $614.5M），PORTLAND GENERAL ELECTRIC CO净利率更高（4.6% vs -2.0%，领先6.6%），Cloudflare, Inc.同比增速更快（33.6% vs 7.9%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-142.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -2.2%）
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。
波特兰通用电气（简称PGE）是财富1000强上市能源企业，总部位于美国俄勒冈州波特兰，业务覆盖发电、输电、配电全链路，为俄勒冈州近三分之二的工商业活动提供电力服务，受俄勒冈州公用事业委员会监管，前身为1888年成立的威拉米特瀑布电气公司。
NET vs POR — 直观对比
营收规模更大
POR
是对方的1.4倍
$614.5M
营收增速更快
NET
高出25.7%
7.9%
净利率更高
POR
高出6.6%
-2.0%
自由现金流更多
NET
多$247.2M
$-142.0M
两年增速更快
NET
近两年复合增速
-2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $889.0M |
| 净利润 | $-12.1M | $41.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 10.7% |
| 净利率 | -2.0% | 4.6% |
| 营收同比 | 33.6% | 7.9% |
| 净利润同比 | 6.0% | 7.9% |
| 每股收益（稀释后） | $-0.03 | $0.36 |
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NETPOR
| Q4 25 | $614.5M | $889.0M | ||
| Q3 25 | $562.0M | $952.0M | ||
| Q2 25 | $512.3M | $807.0M | ||
| Q1 25 | $479.1M | $928.0M | ||
| Q4 24 | $459.9M | $824.0M | ||
| Q3 24 | $430.1M | $929.0M | ||
| Q2 24 | $401.0M | $758.0M | ||
| Q1 24 | $378.6M | $929.0M |
净利润NETPOR
| Q4 25 | $-12.1M | $41.0M | ||
| Q3 25 | $-1.3M | $103.0M | ||
| Q2 25 | $-50.4M | $62.0M | ||
| Q1 25 | $-38.5M | $100.0M | ||
| Q4 24 | $-12.8M | $38.0M | ||
| Q3 24 | $-15.3M | $94.0M | ||
| Q2 24 | $-15.1M | $72.0M | ||
| Q1 24 | $-35.5M | $109.0M |
毛利率NETPOR
| 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NETPOR
| Q4 25 | -8.0% | 10.7% | ||
| Q3 25 | -6.7% | 18.3% | ||
| Q2 25 | -13.1% | 14.6% | ||
| Q1 25 | -11.1% | 18.1% | ||
| Q4 24 | -7.5% | 10.7% | ||
| Q3 24 | -7.2% | 15.7% | ||
| Q2 24 | -8.7% | 15.3% | ||
| Q1 24 | -14.4% | 17.4% |
净利率NETPOR
| Q4 25 | -2.0% | 4.6% | ||
| Q3 25 | -0.2% | 10.8% | ||
| Q2 25 | -9.8% | 7.7% | ||
| Q1 25 | -8.0% | 10.8% | ||
| Q4 24 | -2.8% | 4.6% | ||
| Q3 24 | -3.6% | 10.1% | ||
| Q2 24 | -3.8% | 9.5% | ||
| Q1 24 | -9.4% | 11.7% |
每股收益（稀释后）NETPOR
| Q4 25 | $-0.03 | $0.36 | ||
| Q3 25 | $0.00 | $0.94 | ||
| Q2 25 | $-0.15 | $0.56 | ||
| Q1 25 | $-0.11 | $0.91 | ||
| Q4 24 | $-0.05 | $0.34 | ||
| Q3 24 | $-0.04 | $0.90 | ||
| Q2 24 | $-0.04 | $0.69 | ||
| Q1 24 | $-0.10 | $1.08 |
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 | — | $4.7B |
| 股东权益账面价值 | $1.5B | $4.1B |
| 总资产 | $6.0B | $13.2B |
| 负债/权益比越低杠杆越低 | — | 1.13× |
8季度趋势，按日历期对齐
现金及短期投资NETPOR
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | — | ||
| Q3 24 | $182.9M | — | ||
| Q2 24 | $157.0M | — | ||
| Q1 24 | $254.4M | — |
总债务NETPOR
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $4.7B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | — | $4.4B |
股东权益NETPOR
| Q4 25 | $1.5B | $4.1B | ||
| Q3 25 | $1.3B | $4.0B | ||
| Q2 25 | $1.2B | $3.9B | ||
| Q1 25 | $1.4B | $3.8B | ||
| Q4 24 | $1.0B | $3.8B | ||
| Q3 24 | $973.1M | $3.6B | ||
| Q2 24 | $881.5M | $3.5B | ||
| Q1 24 | $797.2M | $3.5B |
总资产NETPOR
| Q4 25 | $6.0B | $13.2B | ||
| Q3 25 | $5.8B | $13.0B | ||
| Q2 25 | $5.6B | $12.7B | ||
| Q1 25 | $3.7B | $12.7B | ||
| Q4 24 | $3.3B | $12.5B | ||
| Q3 24 | $3.1B | $11.9B | ||
| Q2 24 | $2.9B | $11.6B | ||
| Q1 24 | $2.8B | $11.6B |
负债/权益比NETPOR
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.20× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | — | 1.28× |
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 | $148.0M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $-142.0M |
| 自由现金流率自由现金流/营收 | 17.1% | -16.0% |
| 资本支出强度资本支出/营收 | 13.9% | 32.6% |
| 现金转化率经营现金流/净利润 | — | 3.61× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $-71.0M |
8季度趋势，按日历期对齐
经营现金流NETPOR
| Q4 25 | $190.4M | $148.0M | ||
| Q3 25 | $167.1M | $403.0M | ||
| Q2 25 | $99.8M | $336.0M | ||
| Q1 25 | $145.8M | $231.0M | ||
| Q4 24 | $127.3M | $170.0M | ||
| Q3 24 | $104.7M | $244.0M | ||
| Q2 24 | $74.8M | $189.0M | ||
| Q1 24 | $73.6M | $175.0M |
自由现金流NETPOR
| Q4 25 | $105.2M | $-142.0M | ||
| Q3 25 | $82.5M | $100.0M | ||
| Q2 25 | $39.9M | $99.0M | ||
| Q1 25 | $59.9M | $-128.0M | ||
| Q4 24 | $54.2M | $-222.0M | ||
| Q3 24 | $54.5M | $-9.0M | ||
| Q2 24 | $45.2M | $-109.0M | ||
| Q1 24 | $41.5M | $-150.0M |
自由现金流率NETPOR
| Q4 25 | 17.1% | -16.0% | ||
| Q3 25 | 14.7% | 10.5% | ||
| Q2 25 | 7.8% | 12.3% | ||
| Q1 25 | 12.5% | -13.8% | ||
| Q4 24 | 11.8% | -26.9% | ||
| Q3 24 | 12.7% | -1.0% | ||
| Q2 24 | 11.3% | -14.4% | ||
| Q1 24 | 11.0% | -16.1% |
资本支出强度NETPOR
| Q4 25 | 13.9% | 32.6% | ||
| Q3 25 | 15.1% | 31.8% | ||
| Q2 25 | 11.7% | 29.4% | ||
| Q1 25 | 17.9% | 38.7% | ||
| Q4 24 | 15.9% | 47.6% | ||
| Q3 24 | 11.7% | 27.2% | ||
| Q2 24 | 7.4% | 39.3% | ||
| Q1 24 | 8.5% | 35.0% |
现金转化率NETPOR
| Q4 25 | — | 3.61× | ||
| Q3 25 | — | 3.91× | ||
| Q2 25 | — | 5.42× | ||
| Q1 25 | — | 2.31× | ||
| Q4 24 | — | 4.47× | ||
| Q3 24 | — | 2.60× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | — | 1.61× |
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% |
POR
| Other | $507.0M | 57% |
| Commercial | $231.0M | 26% |
| Industrial | $140.0M | 16% |
| Direct Accesscustomers | $11.0M | 1% |
