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Cloudflare, Inc.（NET）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Reddit, Inc.的季度营收约是Cloudflare, Inc.的1.1倍（$663.0M vs $614.5M），Reddit, Inc.净利率更高（30.8% vs -2.0%，领先32.7%），Reddit, Inc.同比增速更快（69.0% vs 33.6%），Reddit, Inc.自由现金流更多（$311.0M vs $105.2M），过去两年Reddit, Inc.的营收复合增速更高（53.6% vs 27.4%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
NET vs RDDT — 直观对比
营收规模更大
RDDT
是对方的1.1倍
$614.5M
营收增速更快
RDDT
高出35.4%
33.6%
净利率更高
RDDT
高出32.7%
-2.0%
自由现金流更多
RDDT
多$205.8M
$105.2M
两年增速更快
RDDT
近两年复合增速
27.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $663.0M |
| 净利润 | $-12.1M | $204.0M |
| 毛利率 | 73.6% | 100.0% |
| 营业利润率 | -8.0% | 0.0% |
| 净利率 | -2.0% | 30.8% |
| 营收同比 | 33.6% | 69.0% |
| 净利润同比 | 6.0% | 680.0% |
| 每股收益（稀释后） | $-0.03 | $1.01 |
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NETRDDT
| Q1 26 | — | $663.0M | ||
| Q4 25 | $614.5M | $725.6M | ||
| Q3 25 | $562.0M | $584.9M | ||
| Q2 25 | $512.3M | $499.6M | ||
| Q1 25 | $479.1M | $392.4M | ||
| Q4 24 | $459.9M | $427.7M | ||
| Q3 24 | $430.1M | $348.4M | ||
| Q2 24 | $401.0M | $281.2M |
净利润NETRDDT
| Q1 26 | — | $204.0M | ||
| Q4 25 | $-12.1M | $251.6M | ||
| Q3 25 | $-1.3M | $162.7M | ||
| Q2 25 | $-50.4M | $89.3M | ||
| Q1 25 | $-38.5M | $26.2M | ||
| Q4 24 | $-12.8M | $71.0M | ||
| Q3 24 | $-15.3M | $29.9M | ||
| Q2 24 | $-15.1M | $-10.1M |
毛利率NETRDDT
| Q1 26 | — | 100.0% | ||
| Q4 25 | 73.6% | 91.9% | ||
| Q3 25 | 74.0% | 91.0% | ||
| Q2 25 | 74.9% | 90.8% | ||
| Q1 25 | 75.9% | 90.5% | ||
| Q4 24 | 76.4% | 92.6% | ||
| Q3 24 | 77.7% | 90.1% | ||
| Q2 24 | 77.8% | 89.5% |
营业利润率NETRDDT
| Q1 26 | — | 0.0% | ||
| Q4 25 | -8.0% | 31.9% | ||
| Q3 25 | -6.7% | 23.7% | ||
| Q2 25 | -13.1% | 13.6% | ||
| Q1 25 | -11.1% | 1.0% | ||
| Q4 24 | -7.5% | 12.4% | ||
| Q3 24 | -7.2% | 2.0% | ||
| Q2 24 | -8.7% | -11.0% |
净利率NETRDDT
| Q1 26 | — | 30.8% | ||
| Q4 25 | -2.0% | 34.7% | ||
| Q3 25 | -0.2% | 27.8% | ||
| Q2 25 | -9.8% | 17.9% | ||
| Q1 25 | -8.0% | 6.7% | ||
| Q4 24 | -2.8% | 16.6% | ||
| Q3 24 | -3.6% | 8.6% | ||
| Q2 24 | -3.8% | -3.6% |
每股收益（稀释后）NETRDDT
| Q1 26 | — | $1.01 | ||
| Q4 25 | $-0.03 | $1.24 | ||
| Q3 25 | $0.00 | $0.80 | ||
| Q2 25 | $-0.15 | $0.45 | ||
| Q1 25 | $-0.11 | $0.13 | ||
| Q4 24 | $-0.05 | $4.76 | ||
| Q3 24 | $-0.04 | $0.16 | ||
| Q2 24 | $-0.04 | $-0.06 |
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 | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $3.2B |
| 总资产 | $6.0B | $3.5B |
| 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NETRDDT
| Q1 26 | — | $1.4B | ||
| Q4 25 | $943.5M | $953.6M | ||
| Q3 25 | $1.1B | $911.7M | ||
| Q2 25 | $1.5B | $734.1M | ||
| Q1 25 | $204.5M | $635.7M | ||
| Q4 24 | $147.7M | $562.1M | ||
| Q3 24 | $182.9M | $515.9M | ||
| Q2 24 | $157.0M | $468.0M |
股东权益NETRDDT
| Q1 26 | — | $3.2B | ||
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.3B | $2.6B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $1.0B | $2.1B | ||
| Q3 24 | $973.1M | $2.0B | ||
| Q2 24 | $881.5M | $1.9B |
总资产NETRDDT
| Q1 26 | — | $3.5B | ||
| Q4 25 | $6.0B | $3.2B | ||
| Q3 25 | $5.8B | $2.9B | ||
| Q2 25 | $5.6B | $2.6B | ||
| Q1 25 | $3.7B | $2.4B | ||
| Q4 24 | $3.3B | $2.3B | ||
| Q3 24 | $3.1B | $2.2B | ||
| Q2 24 | $2.9B | $2.1B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $311.0M |
| 自由现金流率自由现金流/营收 | 17.1% | 46.9% |
| 资本支出强度资本支出/营收 | 13.9% | — |
| 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 | $868.6M |
8季度趋势，按日历期对齐
经营现金流NETRDDT
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $266.8M | ||
| Q3 25 | $167.1M | $185.2M | ||
| Q2 25 | $99.8M | $111.3M | ||
| Q1 25 | $145.8M | $127.6M | ||
| Q4 24 | $127.3M | $90.0M | ||
| Q3 24 | $104.7M | $71.6M | ||
| Q2 24 | $74.8M | $28.4M |
自由现金流NETRDDT
| Q1 26 | — | $311.0M | ||
| Q4 25 | $105.2M | $263.6M | ||
| Q3 25 | $82.5M | $183.1M | ||
| Q2 25 | $39.9M | $110.8M | ||
| Q1 25 | $59.9M | $126.6M | ||
| Q4 24 | $54.2M | $89.2M | ||
| Q3 24 | $54.5M | $70.3M | ||
| Q2 24 | $45.2M | $27.2M |
自由现金流率NETRDDT
| Q1 26 | — | 46.9% | ||
| Q4 25 | 17.1% | 36.3% | ||
| Q3 25 | 14.7% | 31.3% | ||
| Q2 25 | 7.8% | 22.2% | ||
| Q1 25 | 12.5% | 32.3% | ||
| Q4 24 | 11.8% | 20.8% | ||
| Q3 24 | 12.7% | 20.2% | ||
| Q2 24 | 11.3% | 9.7% |
资本支出强度NETRDDT
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 0.4% | ||
| Q3 25 | 15.1% | 0.4% | ||
| Q2 25 | 11.7% | 0.1% | ||
| Q1 25 | 17.9% | 0.2% | ||
| Q4 24 | 15.9% | 0.2% | ||
| Q3 24 | 11.7% | 0.4% | ||
| Q2 24 | 7.4% | 0.4% |
现金转化率NETRDDT
| Q1 26 | — | — | ||
| Q4 25 | — | 1.06× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 2.40× | ||
| Q2 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% |
RDDT
暂无分部数据
