vs
Cloudflare, Inc.（NET）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是Cloudflare, Inc.的1.1倍（$664.6M vs $614.5M），Ryman Hospitality Properties, Inc.净利率更高（10.4% vs -2.0%，领先12.4%），Cloudflare, Inc.同比增速更快（33.6% vs 13.2%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 4.1%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
NET vs RHP — 直观对比
营收规模更大
RHP
是对方的1.1倍
$614.5M
营收增速更快
NET
高出20.4%
13.2%
净利率更高
RHP
高出12.4%
-2.0%
两年增速更快
NET
近两年复合增速
4.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $664.6M |
| 净利润 | $-12.1M | $69.4M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 20.7% |
| 净利率 | -2.0% | 10.4% |
| 营收同比 | 33.6% | 13.2% |
| 净利润同比 | 6.0% | 10.1% |
| 每股收益（稀释后） | $-0.03 | $1.03 |
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NETRHP
| Q1 26 | — | $664.6M | ||
| Q4 25 | $614.5M | $737.8M | ||
| Q3 25 | $562.0M | $592.5M | ||
| Q2 25 | $512.3M | $659.5M | ||
| Q1 25 | $479.1M | $587.3M | ||
| Q4 24 | $459.9M | $647.6M | ||
| Q3 24 | $430.1M | $550.0M | ||
| Q2 24 | $401.0M | $613.3M |
净利润NETRHP
| Q1 26 | — | $69.4M | ||
| Q4 25 | $-12.1M | $74.5M | ||
| Q3 25 | $-1.3M | $34.9M | ||
| Q2 25 | $-50.4M | $71.8M | ||
| Q1 25 | $-38.5M | $63.0M | ||
| Q4 24 | $-12.8M | $72.3M | ||
| Q3 24 | $-15.3M | $59.0M | ||
| Q2 24 | $-15.1M | $100.8M |
毛利率NETRHP
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 41.4% | ||
| Q3 25 | 74.0% | 40.9% | ||
| Q2 25 | 74.9% | 49.7% | ||
| Q1 25 | 75.9% | 44.4% | ||
| Q4 24 | 76.4% | 40.4% | ||
| Q3 24 | 77.7% | 43.1% | ||
| Q2 24 | 77.8% | 48.4% |
营业利润率NETRHP
| Q1 26 | — | 20.7% | ||
| Q4 25 | -8.0% | 19.4% | ||
| Q3 25 | -6.7% | 15.0% | ||
| Q2 25 | -13.1% | 21.1% | ||
| Q1 25 | -11.1% | 19.8% | ||
| Q4 24 | -7.5% | 18.6% | ||
| Q3 24 | -7.2% | 19.3% | ||
| Q2 24 | -8.7% | 27.4% |
净利率NETRHP
| Q1 26 | — | 10.4% | ||
| Q4 25 | -2.0% | 10.1% | ||
| Q3 25 | -0.2% | 5.9% | ||
| Q2 25 | -9.8% | 10.9% | ||
| Q1 25 | -8.0% | 10.7% | ||
| Q4 24 | -2.8% | 11.2% | ||
| Q3 24 | -3.6% | 10.7% | ||
| Q2 24 | -3.8% | 16.4% |
每股收益（稀释后）NETRHP
| Q1 26 | — | $1.03 | ||
| Q4 25 | $-0.03 | $1.12 | ||
| Q3 25 | $0.00 | $0.53 | ||
| Q2 25 | $-0.15 | $1.12 | ||
| Q1 25 | $-0.11 | $1.00 | ||
| Q4 24 | $-0.05 | $1.12 | ||
| Q3 24 | $-0.04 | $0.94 | ||
| Q2 24 | $-0.04 | $1.65 |
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 | $770.8M |
| 总资产 | $6.0B | $6.2B |
| 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NETRHP
| Q1 26 | — | — | ||
| Q4 25 | $943.5M | $471.4M | ||
| Q3 25 | $1.1B | $483.3M | ||
| Q2 25 | $1.5B | $420.6M | ||
| Q1 25 | $204.5M | $413.9M | ||
| Q4 24 | $147.7M | $477.7M | ||
| Q3 24 | $182.9M | $534.9M | ||
| Q2 24 | $157.0M | $498.4M |
股东权益NETRHP
| Q1 26 | — | $770.8M | ||
| Q4 25 | $1.5B | $750.2M | ||
| Q3 25 | $1.3B | $758.5M | ||
| Q2 25 | $1.2B | $800.4M | ||
| Q1 25 | $1.4B | $531.5M | ||
| Q4 24 | $1.0B | $549.0M | ||
| Q3 24 | $973.1M | $551.9M | ||
| Q2 24 | $881.5M | $562.6M |
总资产NETRHP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $6.0B | $6.2B | ||
| Q3 25 | $5.8B | $6.2B | ||
| Q2 25 | $5.6B | $6.1B | ||
| Q1 25 | $3.7B | $5.2B | ||
| Q4 24 | $3.3B | $5.2B | ||
| Q3 24 | $3.1B | $5.2B | ||
| Q2 24 | $2.9B | $5.1B |
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 | — |
| 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NETRHP
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $164.7M | ||
| Q3 25 | $167.1M | $205.2M | ||
| Q2 25 | $99.8M | $122.5M | ||
| Q1 25 | $145.8M | $98.2M | ||
| Q4 24 | $127.3M | $166.6M | ||
| Q3 24 | $104.7M | $218.1M | ||
| Q2 24 | $74.8M | $184.3M |
自由现金流NETRHP
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $58.5M | ||
| Q3 25 | $82.5M | $135.4M | ||
| Q2 25 | $39.9M | $53.0M | ||
| Q1 25 | $59.9M | $-14.5M | ||
| Q4 24 | $54.2M | $76.0M | ||
| Q3 24 | $54.5M | $85.7M | ||
| Q2 24 | $45.2M | $78.8M |
自由现金流率NETRHP
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 7.9% | ||
| Q3 25 | 14.7% | 22.9% | ||
| Q2 25 | 7.8% | 8.0% | ||
| Q1 25 | 12.5% | -2.5% | ||
| Q4 24 | 11.8% | 11.7% | ||
| Q3 24 | 12.7% | 15.6% | ||
| Q2 24 | 11.3% | 12.9% |
资本支出强度NETRHP
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 14.4% | ||
| Q3 25 | 15.1% | 11.8% | ||
| Q2 25 | 11.7% | 10.5% | ||
| Q1 25 | 17.9% | 19.2% | ||
| Q4 24 | 15.9% | 14.0% | ||
| Q3 24 | 11.7% | 24.1% | ||
| Q2 24 | 7.4% | 17.2% |
现金转化率NETRHP
| Q1 26 | — | — | ||
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | — | 1.83× |
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% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
