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Cloudflare, Inc.（NET）与QuidelOrtho Corp（QDEL）财务数据对比。点击上方公司名可切换其他公司
QuidelOrtho Corp的季度营收约是Cloudflare, Inc.的1.1倍（$699.9M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -104.7%，领先102.8%），Cloudflare, Inc.同比增速更快（33.6% vs -3.7%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-94.7M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -2.9%）
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。
奎德尔奥索公司是美国的诊断医疗产品制造商，旗下产品面向全球市场销售，深耕体外诊断领域，为医疗机构及相关用户提供专业的检测解决方案，助力全球医疗健康服务效率提升。
NET vs QDEL — 直观对比
营收规模更大
QDEL
是对方的1.1倍
$614.5M
营收增速更快
NET
高出37.3%
-3.7%
净利率更高
NET
高出102.8%
-104.7%
自由现金流更多
NET
多$199.9M
$-94.7M
两年增速更快
NET
近两年复合增速
-2.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $699.9M |
| 净利润 | $-12.1M | $-733.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | -100.7% |
| 净利率 | -2.0% | -104.7% |
| 营收同比 | 33.6% | -3.7% |
| 净利润同比 | 6.0% | -3583.4% |
| 每股收益（稀释后） | $-0.03 | $-10.78 |
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NETQDEL
| Q4 25 | $614.5M | — | ||
| Q3 25 | $562.0M | $699.9M | ||
| Q2 25 | $512.3M | $613.9M | ||
| Q1 25 | $479.1M | $692.8M | ||
| Q4 24 | $459.9M | $707.8M | ||
| Q3 24 | $430.1M | $727.1M | ||
| Q2 24 | $401.0M | $637.0M | ||
| Q1 24 | $378.6M | $711.0M |
净利润NETQDEL
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $-733.0M | ||
| Q2 25 | $-50.4M | $-255.4M | ||
| Q1 25 | $-38.5M | $-12.7M | ||
| Q4 24 | $-12.8M | $-178.4M | ||
| Q3 24 | $-15.3M | $-19.9M | ||
| Q2 24 | $-15.1M | $-147.7M | ||
| Q1 24 | $-35.5M | $-1.7B |
毛利率NETQDEL
| 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NETQDEL
| Q4 25 | -8.0% | — | ||
| Q3 25 | -6.7% | -100.7% | ||
| Q2 25 | -13.1% | -29.4% | ||
| Q1 25 | -11.1% | 4.7% | ||
| Q4 24 | -7.5% | -14.2% | ||
| Q3 24 | -7.2% | 2.1% | ||
| Q2 24 | -8.7% | -18.4% | ||
| Q1 24 | -14.4% | -247.3% |
净利率NETQDEL
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | -104.7% | ||
| Q2 25 | -9.8% | -41.6% | ||
| Q1 25 | -8.0% | -1.8% | ||
| Q4 24 | -2.8% | -25.2% | ||
| Q3 24 | -3.6% | -2.7% | ||
| Q2 24 | -3.8% | -23.2% | ||
| Q1 24 | -9.4% | -239.9% |
每股收益（稀释后）NETQDEL
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | $-10.78 | ||
| Q2 25 | $-0.15 | $-3.77 | ||
| Q1 25 | $-0.11 | $-0.19 | ||
| Q4 24 | $-0.05 | $-2.54 | ||
| Q3 24 | $-0.04 | $-0.30 | ||
| Q2 24 | $-0.04 | $-2.20 | ||
| Q1 24 | $-0.10 | $-25.50 |
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 | $98.1M |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $1.5B | $2.0B |
| 总资产 | $6.0B | $5.7B |
| 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NETQDEL
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $98.1M | ||
| Q2 25 | $1.5B | $151.7M | ||
| Q1 25 | $204.5M | $127.1M | ||
| Q4 24 | $147.7M | $98.3M | ||
| Q3 24 | $182.9M | $143.7M | ||
| Q2 24 | $157.0M | $107.0M | ||
| Q1 24 | $254.4M | $78.5M |
总债务NETQDEL
| Q4 25 | — | — | ||
| Q3 25 | — | $2.5B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B | ||
| Q1 24 | — | $2.2B |
股东权益NETQDEL
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | $2.0B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.4B | $3.0B | ||
| Q4 24 | $1.0B | $3.0B | ||
| Q3 24 | $973.1M | $3.2B | ||
| Q2 24 | $881.5M | $3.2B | ||
| Q1 24 | $797.2M | $3.3B |
总资产NETQDEL
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.8B | $5.7B | ||
| Q2 25 | $5.6B | $6.4B | ||
| Q1 25 | $3.7B | $6.5B | ||
| Q4 24 | $3.3B | $6.4B | ||
| Q3 24 | $3.1B | $6.8B | ||
| Q2 24 | $2.9B | $6.7B | ||
| Q1 24 | $2.8B | $6.7B |
负债/权益比NETQDEL
| Q4 25 | — | — | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 0.74× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.72× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.68× |
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 | $-45.5M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $-94.7M |
| 自由现金流率自由现金流/营收 | 17.1% | -13.5% |
| 资本支出强度资本支出/营收 | 13.9% | 7.0% |
| 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 | $-153.1M |
8季度趋势，按日历期对齐
经营现金流NETQDEL
| Q4 25 | $190.4M | — | ||
| Q3 25 | $167.1M | $-45.5M | ||
| Q2 25 | $99.8M | $-46.8M | ||
| Q1 25 | $145.8M | $65.6M | ||
| Q4 24 | $127.3M | $63.7M | ||
| Q3 24 | $104.7M | $117.9M | ||
| Q2 24 | $74.8M | $-97.9M | ||
| Q1 24 | $73.6M | $-700.0K |
自由现金流NETQDEL
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | $-94.7M | ||
| Q2 25 | $39.9M | $-84.3M | ||
| Q1 25 | $59.9M | $9.4M | ||
| Q4 24 | $54.2M | $16.5M | ||
| Q3 24 | $54.5M | $71.4M | ||
| Q2 24 | $45.2M | $-133.2M | ||
| Q1 24 | $41.5M | $-66.8M |
自由现金流率NETQDEL
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | -13.5% | ||
| Q2 25 | 7.8% | -13.7% | ||
| Q1 25 | 12.5% | 1.4% | ||
| Q4 24 | 11.8% | 2.3% | ||
| Q3 24 | 12.7% | 9.8% | ||
| Q2 24 | 11.3% | -20.9% | ||
| Q1 24 | 11.0% | -9.4% |
资本支出强度NETQDEL
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | 7.0% | ||
| Q2 25 | 11.7% | 6.1% | ||
| Q1 25 | 17.9% | 8.1% | ||
| Q4 24 | 15.9% | 6.7% | ||
| Q3 24 | 11.7% | 6.4% | ||
| Q2 24 | 7.4% | 5.5% | ||
| Q1 24 | 8.5% | 9.3% |
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% |
QDEL
| Labs | $373.8M | 53% |
| Point Of Care | $164.6M | 24% |
| Immunohematology | $142.0M | 20% |
| Donor Screening | $14.7M | 2% |
| Molecular Diagnostics | $4.8M | 1% |
| Collaborative Arrangement Transaction With Party To Collaborative Arrangement | $2.1M | 0% |
