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Cloudflare, Inc.（NET）与百利高（PRGO）财务数据对比。点击上方公司名可切换其他公司
百利高的季度营收约是Cloudflare, Inc.的1.8倍（$1.1B vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -127.8%，领先125.8%），Cloudflare, Inc.同比增速更快（33.6% vs -2.5%），百利高自由现金流更多（$148.6M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 1.3%）
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。
百利高（Perrigo）是一家注册于爱尔兰的非处方仿制药生产商，主打自有品牌OTC药品业务。公司70%的净销售额来自美国医疗市场，为优化税务布局将法定总部设在爱尔兰，该地区销售额仅占总营收的0.6%，2013年曾完成美国历史上第六大企业税收倒置交易。
NET vs PRGO — 直观对比
营收规模更大
PRGO
是对方的1.8倍
$614.5M
营收增速更快
NET
高出36.1%
-2.5%
净利率更高
NET
高出125.8%
-127.8%
自由现金流更多
PRGO
多$43.4M
$105.2M
两年增速更快
NET
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $1.1B |
| 净利润 | $-12.1M | $-1.4B |
| 毛利率 | 73.6% | 32.6% |
| 营业利润率 | -8.0% | -116.0% |
| 净利率 | -2.0% | -127.8% |
| 营收同比 | 33.6% | -2.5% |
| 净利润同比 | 6.0% | -3093.9% |
| 每股收益（稀释后） | $-0.03 | $-10.23 |
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NETPRGO
| Q4 25 | $614.5M | $1.1B | ||
| Q3 25 | $562.0M | $1.0B | ||
| Q2 25 | $512.3M | $1.1B | ||
| Q1 25 | $479.1M | $1.0B | ||
| Q4 24 | $459.9M | $1.1B | ||
| Q3 24 | $430.1M | $1.1B | ||
| Q2 24 | $401.0M | $1.1B | ||
| Q1 24 | $378.6M | $1.1B |
净利润NETPRGO
| Q4 25 | $-12.1M | $-1.4B | ||
| Q3 25 | $-1.3M | $7.5M | ||
| Q2 25 | $-50.4M | $-8.4M | ||
| Q1 25 | $-38.5M | $-6.4M | ||
| Q4 24 | $-12.8M | $-44.4M | ||
| Q3 24 | $-15.3M | $-21.0M | ||
| Q2 24 | $-15.1M | $-108.4M | ||
| Q1 24 | $-35.5M | $2.0M |
毛利率NETPRGO
| Q4 25 | 73.6% | 32.6% | ||
| Q3 25 | 74.0% | 36.1% | ||
| Q2 25 | 74.9% | 34.4% | ||
| Q1 25 | 75.9% | 37.6% | ||
| Q4 24 | 76.4% | 33.9% | ||
| Q3 24 | 77.7% | 37.2% | ||
| Q2 24 | 77.8% | 37.0% | ||
| Q1 24 | 77.5% | 33.1% |
营业利润率NETPRGO
| Q4 25 | -8.0% | -116.0% | ||
| Q3 25 | -6.7% | 7.0% | ||
| Q2 25 | -13.1% | 4.3% | ||
| Q1 25 | -11.1% | 4.5% | ||
| Q4 24 | -7.5% | 10.0% | ||
| Q3 24 | -7.2% | 7.4% | ||
| Q2 24 | -8.7% | -2.5% | ||
| Q1 24 | -14.4% | -5.1% |
净利率NETPRGO
| Q4 25 | -2.0% | -127.8% | ||
| Q3 25 | -0.2% | 0.7% | ||
| Q2 25 | -9.8% | -0.8% | ||
| Q1 25 | -8.0% | -0.6% | ||
| Q4 24 | -2.8% | -3.9% | ||
| Q3 24 | -3.6% | -1.9% | ||
| Q2 24 | -3.8% | -10.2% | ||
| Q1 24 | -9.4% | 0.2% |
每股收益（稀释后）NETPRGO
| Q4 25 | $-0.03 | $-10.23 | ||
| Q3 25 | $0.00 | $0.05 | ||
| Q2 25 | $-0.15 | $-0.06 | ||
| Q1 25 | $-0.11 | $-0.05 | ||
| Q4 24 | $-0.05 | $-0.32 | ||
| Q3 24 | $-0.04 | $-0.15 | ||
| Q2 24 | $-0.04 | $-0.79 | ||
| Q1 24 | $-0.10 | $0.01 |
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 | — | — |
| 股东权益账面价值 | $1.5B | $2.9B |
| 总资产 | $6.0B | $8.5B |
| 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NETPRGO
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $432.1M | ||
| Q2 25 | $1.5B | $454.2M | ||
| Q1 25 | $204.5M | $409.9M | ||
| Q4 24 | $147.7M | $558.8M | ||
| Q3 24 | $182.9M | $1.5B | ||
| Q2 24 | $157.0M | $542.8M | ||
| Q1 24 | $254.4M | $658.5M |
股东权益NETPRGO
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.3B | $4.4B | ||
| Q2 25 | $1.2B | $4.5B | ||
| Q1 25 | $1.4B | $4.4B | ||
| Q4 24 | $1.0B | $4.3B | ||
| Q3 24 | $973.1M | $4.6B | ||
| Q2 24 | $881.5M | $4.5B | ||
| Q1 24 | $797.2M | $4.7B |
总资产NETPRGO
| Q4 25 | $6.0B | $8.5B | ||
| Q3 25 | $5.8B | $10.1B | ||
| Q2 25 | $5.6B | $10.1B | ||
| Q1 25 | $3.7B | $9.8B | ||
| Q4 24 | $3.3B | $9.6B | ||
| Q3 24 | $3.1B | $11.2B | ||
| Q2 24 | $2.9B | $10.4B | ||
| Q1 24 | $2.8B | $10.6B |
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 | $175.4M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $148.6M |
| 自由现金流率自由现金流/营收 | 17.1% | 13.4% |
| 资本支出强度资本支出/营收 | 13.9% | 2.4% |
| 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 | $145.1M |
8季度趋势，按日历期对齐
经营现金流NETPRGO
| Q4 25 | $190.4M | $175.4M | ||
| Q3 25 | $167.1M | $51.7M | ||
| Q2 25 | $99.8M | $75.9M | ||
| Q1 25 | $145.8M | $-64.5M | ||
| Q4 24 | $127.3M | $312.6M | ||
| Q3 24 | $104.7M | $42.2M | ||
| Q2 24 | $74.8M | $9.5M | ||
| Q1 24 | $73.6M | $-1.4M |
自由现金流NETPRGO
| Q4 25 | $105.2M | $148.6M | ||
| Q3 25 | $82.5M | $29.8M | ||
| Q2 25 | $39.9M | $56.7M | ||
| Q1 25 | $59.9M | $-90.0M | ||
| Q4 24 | $54.2M | $274.9M | ||
| Q3 24 | $54.5M | $15.1M | ||
| Q2 24 | $45.2M | $-18.9M | ||
| Q1 24 | $41.5M | $-26.5M |
自由现金流率NETPRGO
| Q4 25 | 17.1% | 13.4% | ||
| Q3 25 | 14.7% | 2.9% | ||
| Q2 25 | 7.8% | 5.4% | ||
| Q1 25 | 12.5% | -8.6% | ||
| Q4 24 | 11.8% | 24.2% | ||
| Q3 24 | 12.7% | 1.4% | ||
| Q2 24 | 11.3% | -1.8% | ||
| Q1 24 | 11.0% | -2.4% |
资本支出强度NETPRGO
| Q4 25 | 13.9% | 2.4% | ||
| Q3 25 | 15.1% | 2.1% | ||
| Q2 25 | 11.7% | 1.8% | ||
| Q1 25 | 17.9% | 2.4% | ||
| Q4 24 | 15.9% | 3.3% | ||
| Q3 24 | 11.7% | 2.5% | ||
| Q2 24 | 7.4% | 2.7% | ||
| Q1 24 | 8.5% | 2.3% |
现金转化率NETPRGO
| Q4 25 | — | — | ||
| Q3 25 | — | 6.89× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.70× |
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% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
