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Cloudflare, Inc.（NET）与Real Brokerage Inc（REAX）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Real Brokerage Inc的1.1倍（$614.5M vs $568.5M），Real Brokerage Inc净利率更高（-0.1% vs -2.0%，领先1.9%），Real Brokerage Inc同比增速更快（52.6% vs 33.6%），Cloudflare, Inc.自由现金流更多（$105.2M vs $8.4M）
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。
该企业是美国房产服务企业，主营房产经纪业务运营与品牌特许经营，业务覆盖房产中介、 relocation服务、产权服务、保险及结算服务，旗下拥有Better Homes and Gardens Real Estate、21世纪不动产、Coldwell Banker、Corcoran Group、ERA房地产以及苏富比国际地产等多个知名品牌，2026年被Compass, Inc.收购。
NET vs REAX — 直观对比
营收规模更大
NET
是对方的1.1倍
$568.5M
营收增速更快
REAX
高出19.0%
33.6%
净利率更高
REAX
高出1.9%
-2.0%
自由现金流更多
NET
多$96.8M
$8.4M
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $568.5M |
| 净利润 | $-12.1M | $-447.0K |
| 毛利率 | 73.6% | 7.9% |
| 营业利润率 | -8.0% | -0.1% |
| 净利率 | -2.0% | -0.1% |
| 营收同比 | 33.6% | 52.6% |
| 净利润同比 | 6.0% | 82.7% |
| 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NETREAX
| Q4 25 | $614.5M | — | ||
| Q3 25 | $562.0M | $568.5M | ||
| Q2 25 | $512.3M | $540.7M | ||
| Q1 25 | $479.1M | $354.0M | ||
| Q4 24 | $459.9M | — | ||
| Q3 24 | $430.1M | $372.5M | ||
| Q2 24 | $401.0M | — | ||
| Q1 24 | $378.6M | $200.7M |
净利润NETREAX
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $-447.0K | ||
| Q2 25 | $-50.4M | $1.5M | ||
| Q1 25 | $-38.5M | $-5.0M | ||
| Q4 24 | $-12.8M | — | ||
| Q3 24 | $-15.3M | $-2.6M | ||
| Q2 24 | $-15.1M | — | ||
| Q1 24 | $-35.5M | $-16.1M |
毛利率NETREAX
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | 7.9% | ||
| Q2 25 | 74.9% | 8.9% | ||
| Q1 25 | 75.9% | 9.6% | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 77.7% | 8.6% | ||
| Q2 24 | 77.8% | — | ||
| Q1 24 | 77.5% | 10.3% |
营业利润率NETREAX
| Q4 25 | -8.0% | — | ||
| Q3 25 | -6.7% | -0.1% | ||
| Q2 25 | -13.1% | 0.3% | ||
| Q1 25 | -11.1% | -1.5% | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | -7.2% | -0.7% | ||
| Q2 24 | -8.7% | — | ||
| Q1 24 | -14.4% | -7.8% |
净利率NETREAX
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | -0.1% | ||
| Q2 25 | -9.8% | 0.3% | ||
| Q1 25 | -8.0% | -1.4% | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | -3.6% | -0.7% | ||
| Q2 24 | -3.8% | — | ||
| Q1 24 | -9.4% | -8.0% |
每股收益（稀释后）NETREAX
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | $0.00 | ||
| Q2 25 | $-0.15 | $0.01 | ||
| Q1 25 | $-0.11 | $-0.02 | ||
| Q4 24 | $-0.05 | — | ||
| Q3 24 | $-0.04 | $-0.01 | ||
| Q2 24 | $-0.04 | — | ||
| Q1 24 | $-0.10 | $-0.09 |
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 | $38.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $53.6M |
| 总资产 | $6.0B | $145.2M |
| 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NETREAX
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $38.7M | ||
| Q2 25 | $1.5B | $49.7M | ||
| Q1 25 | $204.5M | $24.7M | ||
| Q4 24 | $147.7M | — | ||
| Q3 24 | $182.9M | $22.6M | ||
| Q2 24 | $157.0M | — | ||
| Q1 24 | $254.4M | $20.1M |
股东权益NETREAX
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | $53.6M | ||
| Q2 25 | $1.2B | $49.2M | ||
| Q1 25 | $1.4B | $32.8M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $973.1M | $29.8M | ||
| Q2 24 | $881.5M | — | ||
| Q1 24 | $797.2M | $25.6M |
总资产NETREAX
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.8B | $145.2M | ||
| Q2 25 | $5.6B | $149.4M | ||
| Q1 25 | $3.7B | $100.5M | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.1B | $102.5M | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.8B | — |
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 | $8.8M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $8.4M |
| 自由现金流率自由现金流/营收 | 17.1% | 1.5% |
| 资本支出强度资本支出/营收 | 13.9% | 0.1% |
| 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 | $71.7M |
8季度趋势，按日历期对齐
经营现金流NETREAX
| Q4 25 | $190.4M | — | ||
| Q3 25 | $167.1M | $8.8M | ||
| Q2 25 | $99.8M | $41.0M | ||
| Q1 25 | $145.8M | $15.9M | ||
| Q4 24 | $127.3M | — | ||
| Q3 24 | $104.7M | $7.2M | ||
| Q2 24 | $74.8M | — | ||
| Q1 24 | $73.6M | $21.5M |
自由现金流NETREAX
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | $8.4M | ||
| Q2 25 | $39.9M | $40.8M | ||
| Q1 25 | $59.9M | $15.7M | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $54.5M | $6.8M | ||
| Q2 24 | $45.2M | — | ||
| Q1 24 | $41.5M | $21.4M |
自由现金流率NETREAX
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | 1.5% | ||
| Q2 25 | 7.8% | 7.5% | ||
| Q1 25 | 12.5% | 4.4% | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 12.7% | 1.8% | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 11.0% | 10.7% |
资本支出强度NETREAX
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | 0.1% | ||
| Q2 25 | 11.7% | 0.0% | ||
| Q1 25 | 17.9% | 0.1% | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 11.7% | 0.1% | ||
| Q2 24 | 7.4% | — | ||
| Q1 24 | 8.5% | 0.0% |
现金转化率NETREAX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 27.13× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
REAX
暂无分部数据
