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Cloudflare, Inc.（NET）与Rithm Capital Corp.（RITM）财务数据对比。点击上方公司名可切换其他公司
Rithm Capital Corp.的季度营收约是Cloudflare, Inc.的1.3倍（$828.2M vs $614.5M），Rithm Capital Corp.净利率更高（13.2% vs -2.0%，领先15.2%），Rithm Capital Corp.同比增速更快（508.5% vs 33.6%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
NET vs RITM — 直观对比
营收规模更大
RITM
是对方的1.3倍
$614.5M
营收增速更快
RITM
高出474.9%
33.6%
净利率更高
RITM
高出15.2%
-2.0%
两年增速更快
NET
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $828.2M |
| 净利润 | $-12.1M | $109.5M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 29.9% |
| 净利率 | -2.0% | 13.2% |
| 营收同比 | 33.6% | 508.5% |
| 净利润同比 | 6.0% | 27.7% |
| 每股收益（稀释后） | $-0.03 | $0.12 |
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NETRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $614.5M | $1.5B | ||
| Q3 25 | $562.0M | $1.1B | ||
| Q2 25 | $512.3M | $1.2B | ||
| Q1 25 | $479.1M | $768.4M | ||
| Q4 24 | $459.9M | $2.1B | ||
| Q3 24 | $430.1M | $619.5M | ||
| Q2 24 | $401.0M | $1.2B |
净利润NETRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $-12.1M | $85.0M | ||
| Q3 25 | $-1.3M | $221.5M | ||
| Q2 25 | $-50.4M | $311.7M | ||
| Q1 25 | $-38.5M | $78.8M | ||
| Q4 24 | $-12.8M | $290.2M | ||
| Q3 24 | $-15.3M | $121.7M | ||
| Q2 24 | $-15.1M | $235.6M |
毛利率NETRITM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率NETRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | -8.0% | 13.8% | ||
| Q3 25 | -6.7% | 21.4% | ||
| Q2 25 | -13.1% | 25.2% | ||
| Q1 25 | -11.1% | 7.4% | ||
| Q4 24 | -7.5% | 23.8% | ||
| Q3 24 | -7.2% | 7.3% | ||
| Q2 24 | -8.7% | 23.6% |
净利率NETRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | -2.0% | 5.7% | ||
| Q3 25 | -0.2% | 20.0% | ||
| Q2 25 | -9.8% | 25.6% | ||
| Q1 25 | -8.0% | 10.3% | ||
| Q4 24 | -2.8% | 14.0% | ||
| Q3 24 | -3.6% | 19.7% | ||
| Q2 24 | -3.8% | 19.2% |
每股收益（稀释后）NETRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $-0.03 | $0.09 | ||
| Q3 25 | $0.00 | $0.35 | ||
| Q2 25 | $-0.15 | $0.53 | ||
| Q1 25 | $-0.11 | $0.07 | ||
| Q4 24 | $-0.05 | $0.50 | ||
| Q3 24 | $-0.04 | $0.20 | ||
| Q2 24 | $-0.04 | $0.43 |
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 | $9.1B |
| 总资产 | $6.0B | $53.4B |
| 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NETRITM
| Q1 26 | — | — | ||
| Q4 25 | $943.5M | $1.8B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $204.5M | $1.5B | ||
| Q4 24 | $147.7M | $1.5B | ||
| Q3 24 | $182.9M | $1.6B | ||
| Q2 24 | $157.0M | $1.2B |
总债务NETRITM
| Q1 26 | — | — | ||
| Q4 25 | — | $35.4B | ||
| Q3 25 | — | $32.2B | ||
| Q2 25 | — | $31.2B | ||
| Q1 25 | — | $32.2B | ||
| Q4 24 | — | $32.6B | ||
| Q3 24 | — | $29.6B | ||
| Q2 24 | — | $30.1B |
股东权益NETRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.5B | $8.4B | ||
| Q3 25 | $1.3B | $8.5B | ||
| Q2 25 | $1.2B | $7.9B | ||
| Q1 25 | $1.4B | $7.8B | ||
| Q4 24 | $1.0B | $7.8B | ||
| Q3 24 | $973.1M | $7.7B | ||
| Q2 24 | $881.5M | $7.3B |
总资产NETRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $6.0B | $53.1B | ||
| Q3 25 | $5.8B | $47.2B | ||
| Q2 25 | $5.6B | $44.3B | ||
| Q1 25 | $3.7B | $45.3B | ||
| Q4 24 | $3.3B | $46.0B | ||
| Q3 24 | $3.1B | $42.3B | ||
| Q2 24 | $2.9B | $42.0B |
负债/权益比NETRITM
| Q1 26 | — | — | ||
| Q4 25 | — | 4.20× | ||
| Q3 25 | — | 3.79× | ||
| Q2 25 | — | 3.92× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | — | 4.18× | ||
| Q3 24 | — | 3.87× | ||
| Q2 24 | — | 4.10× |
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NETRITM
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $-114.6M | ||
| Q3 25 | $167.1M | $-2.0B | ||
| Q2 25 | $99.8M | $-557.1M | ||
| Q1 25 | $145.8M | $1.4B | ||
| Q4 24 | $127.3M | $-1.8B | ||
| Q3 24 | $104.7M | $768.1M | ||
| Q2 24 | $74.8M | $-55.7M |
自由现金流NETRITM
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率NETRITM
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度NETRITM
| Q1 26 | — | — | ||
| 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% | — |
现金转化率NETRITM
| Q1 26 | — | — | ||
| Q4 25 | — | -1.35× | ||
| Q3 25 | — | -9.22× | ||
| Q2 25 | — | -1.79× | ||
| Q1 25 | — | 18.03× | ||
| Q4 24 | — | -6.04× | ||
| Q3 24 | — | 6.31× | ||
| Q2 24 | — | -0.24× |
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% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
