vs
Cloudflare, Inc.（NET）与RadNet, Inc.（RDNT）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是RadNet, Inc.的1.1倍（$614.5M vs $547.7M），RadNet, Inc.净利率更高（-0.1% vs -2.0%，领先1.9%），Cloudflare, Inc.同比增速更快（33.6% vs 14.8%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 12.6%）
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。
RadNet是美国领先的放射医疗服务企业，总部位于加利福尼亚州洛杉矶，是美国规模最大的独立固定地址诊断影像中心运营商，按网点数量及年度影像业务收入计均居行业首位。截至2025年，该公司在全美8个州持有或运营超400家影像中心，提供门诊诊断影像服务。
NET vs RDNT — 直观对比
营收规模更大
NET
是对方的1.1倍
$547.7M
营收增速更快
NET
高出18.8%
14.8%
净利率更高
RDNT
高出1.9%
-2.0%
两年增速更快
NET
近两年复合增速
12.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $547.7M |
| 净利润 | $-12.1M | $-597.0K |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 5.1% |
| 净利率 | -2.0% | -0.1% |
| 营收同比 | 33.6% | 14.8% |
| 净利润同比 | 6.0% | -111.2% |
| 每股收益（稀释后） | $-0.03 | $0.00 |
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NETRDNT
| Q4 25 | $614.5M | $547.7M | ||
| Q3 25 | $562.0M | $522.9M | ||
| Q2 25 | $512.3M | $498.2M | ||
| Q1 25 | $479.1M | $471.4M | ||
| Q4 24 | $459.9M | $477.1M | ||
| Q3 24 | $430.1M | $461.1M | ||
| Q2 24 | $401.0M | $459.7M | ||
| Q1 24 | $378.6M | $431.7M |
净利润NETRDNT
| Q4 25 | $-12.1M | $-597.0K | ||
| Q3 25 | $-1.3M | $5.4M | ||
| Q2 25 | $-50.4M | $14.5M | ||
| Q1 25 | $-38.5M | $-37.9M | ||
| Q4 24 | $-12.8M | $5.3M | ||
| Q3 24 | $-15.3M | $3.2M | ||
| Q2 24 | $-15.1M | $-3.0M | ||
| Q1 24 | $-35.5M | $-2.8M |
毛利率NETRDNT
| 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NETRDNT
| Q4 25 | -8.0% | 5.1% | ||
| Q3 25 | -6.7% | 5.2% | ||
| Q2 25 | -13.1% | 6.2% | ||
| Q1 25 | -11.1% | -5.1% | ||
| Q4 24 | -7.5% | 5.1% | ||
| Q3 24 | -7.2% | 7.4% | ||
| Q2 24 | -8.7% | 7.6% | ||
| Q1 24 | -14.4% | 2.6% |
净利率NETRDNT
| Q4 25 | -2.0% | -0.1% | ||
| Q3 25 | -0.2% | 1.0% | ||
| Q2 25 | -9.8% | 2.9% | ||
| Q1 25 | -8.0% | -8.0% | ||
| Q4 24 | -2.8% | 1.1% | ||
| Q3 24 | -3.6% | 0.7% | ||
| Q2 24 | -3.8% | -0.6% | ||
| Q1 24 | -9.4% | -0.6% |
每股收益（稀释后）NETRDNT
| Q4 25 | $-0.03 | $0.00 | ||
| Q3 25 | $0.00 | $0.07 | ||
| Q2 25 | $-0.15 | $0.19 | ||
| Q1 25 | $-0.11 | $-0.51 | ||
| Q4 24 | $-0.05 | $0.08 | ||
| Q3 24 | $-0.04 | $0.04 | ||
| Q2 24 | $-0.04 | $-0.04 | ||
| Q1 24 | $-0.10 | $-0.04 |
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 | $767.2M |
| 总债务越低越好 | — | $1.1B |
| 股东权益账面价值 | $1.5B | $1.1B |
| 总资产 | $6.0B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资NETRDNT
| Q4 25 | $943.5M | $767.2M | ||
| Q3 25 | $1.1B | $804.7M | ||
| Q2 25 | $1.5B | $833.2M | ||
| Q1 25 | $204.5M | $717.3M | ||
| Q4 24 | $147.7M | $740.0M | ||
| Q3 24 | $182.9M | $748.9M | ||
| Q2 24 | $157.0M | $741.7M | ||
| Q1 24 | $254.4M | $527.0M |
总债务NETRDNT
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $834.6M |
股东权益NETRDNT
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.2B | $932.3M | ||
| Q1 25 | $1.4B | $898.1M | ||
| Q4 24 | $1.0B | $902.3M | ||
| Q3 24 | $973.1M | $895.3M | ||
| Q2 24 | $881.5M | $881.0M | ||
| Q1 24 | $797.2M | $873.0M |
总资产NETRDNT
| Q4 25 | $6.0B | $3.8B | ||
| Q3 25 | $5.8B | $3.7B | ||
| Q2 25 | $5.6B | $3.5B | ||
| Q1 25 | $3.7B | $3.3B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.1B | $3.3B | ||
| Q2 24 | $2.9B | $3.2B | ||
| Q1 24 | $2.8B | $3.0B |
负债/权益比NETRDNT
| Q4 25 | — | 1.00× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 1.18× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.17× | ||
| Q1 24 | — | 0.96× |
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 | $84.2M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | — |
| 自由现金流率自由现金流/营收 | 17.1% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流NETRDNT
| Q4 25 | $190.4M | $84.2M | ||
| Q3 25 | $167.1M | $52.8M | ||
| Q2 25 | $99.8M | $120.3M | ||
| Q1 25 | $145.8M | $41.5M | ||
| Q4 24 | $127.3M | $42.5M | ||
| Q3 24 | $104.7M | $57.4M | ||
| Q2 24 | $74.8M | $116.0M | ||
| Q1 24 | $73.6M | $17.1M |
自由现金流NETRDNT
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | — | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $54.5M | — | ||
| Q2 24 | $45.2M | — | ||
| Q1 24 | $41.5M | — |
自由现金流率NETRDNT
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 12.7% | — | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 11.0% | — |
资本支出强度NETRDNT
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 8.5% | — |
现金转化率NETRDNT
| Q4 25 | — | — | ||
| Q3 25 | — | 9.75× | ||
| Q2 25 | — | 8.33× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 7.96× | ||
| Q3 24 | — | 17.89× | ||
| Q2 24 | — | — | ||
| Q1 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% |
RDNT
| Commercial Insurance1 | $301.0M | 55% |
| Medicare1 | $129.2M | 24% |
| Capitation Arrangements | $31.9M | 6% |
| Health Care Other | $20.4M | 4% |
| Digital Health | $16.4M | 3% |
| Other | $15.2M | 3% |
| Medicaid1 | $14.0M | 3% |
| Workers Compensation Personal Injury1 | $12.3M | 2% |
| Health Care Management Service | $7.5M | 1% |
