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Cloudflare, Inc.（NET）与RLI CORP（RLI）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RLI CORP的1.3倍（$614.5M vs $465.7M），RLI CORP净利率更高（19.6% vs -2.0%，领先21.5%），Cloudflare, Inc.同比增速更快（33.6% vs 6.1%），RLI CORP自由现金流更多（$155.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 2.3%）
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。
RLI Corp是一家总部位于美国伊利诺伊州皮奥里亚的专业保险公司，主营财产保险与意外伤害保险业务，深耕保险领域多年，凭借成熟的风险管控体系与定制化产品矩阵，为不同类型的客户提供全面可靠的风险保障服务。
NET vs RLI — 直观对比
营收规模更大
NET
是对方的1.3倍
$465.7M
营收增速更快
NET
高出27.6%
6.1%
净利率更高
RLI
高出21.5%
-2.0%
自由现金流更多
RLI
多$49.8M
$105.2M
两年增速更快
NET
近两年复合增速
2.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $465.7M |
| 净利润 | $-12.1M | $91.2M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 24.4% |
| 净利率 | -2.0% | 19.6% |
| 营收同比 | 33.6% | 6.1% |
| 净利润同比 | 6.0% | 123.1% |
| 每股收益（稀释后） | $-0.03 | $1.00 |
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NETRLI
| Q4 25 | $614.5M | $465.7M | ||
| Q3 25 | $562.0M | $509.3M | ||
| Q2 25 | $512.3M | $499.8M | ||
| Q1 25 | $479.1M | $407.7M | ||
| Q4 24 | $459.9M | $439.1M | ||
| Q3 24 | $430.1M | $470.0M | ||
| Q2 24 | $401.0M | $416.4M | ||
| Q1 24 | $378.6M | $444.8M |
净利润NETRLI
| Q4 25 | $-12.1M | $91.2M | ||
| Q3 25 | $-1.3M | $124.6M | ||
| Q2 25 | $-50.4M | $124.3M | ||
| Q1 25 | $-38.5M | $63.2M | ||
| Q4 24 | $-12.8M | $40.9M | ||
| Q3 24 | $-15.3M | $95.0M | ||
| Q2 24 | $-15.1M | $82.0M | ||
| Q1 24 | $-35.5M | $127.9M |
毛利率NETRLI
| 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NETRLI
| Q4 25 | -8.0% | 24.4% | ||
| Q3 25 | -6.7% | 30.9% | ||
| Q2 25 | -13.1% | 31.3% | ||
| Q1 25 | -11.1% | 19.3% | ||
| Q4 24 | -7.5% | 10.8% | ||
| Q3 24 | -7.2% | 24.9% | ||
| Q2 24 | -8.7% | 24.8% | ||
| Q1 24 | -14.4% | 36.0% |
净利率NETRLI
| Q4 25 | -2.0% | 19.6% | ||
| Q3 25 | -0.2% | 24.5% | ||
| Q2 25 | -9.8% | 24.9% | ||
| Q1 25 | -8.0% | 15.5% | ||
| Q4 24 | -2.8% | 9.3% | ||
| Q3 24 | -3.6% | 20.2% | ||
| Q2 24 | -3.8% | 19.7% | ||
| Q1 24 | -9.4% | 28.8% |
每股收益（稀释后）NETRLI
| Q4 25 | $-0.03 | $1.00 | ||
| Q3 25 | $0.00 | $1.35 | ||
| Q2 25 | $-0.15 | $1.34 | ||
| Q1 25 | $-0.11 | $0.68 | ||
| Q4 24 | $-0.05 | $-2.87 | ||
| Q3 24 | $-0.04 | $2.06 | ||
| Q2 24 | $-0.04 | $1.78 | ||
| Q1 24 | $-0.10 | $2.77 |
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 | $1.8B |
| 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NETRLI
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | — | ||
| Q3 24 | $182.9M | — | ||
| Q2 24 | $157.0M | — | ||
| Q1 24 | $254.4M | — |
总债务NETRLI
| Q4 25 | — | — | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $100.0M | ||
| Q1 25 | — | $100.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | — | $100.0M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | — | $100.0M |
股东权益NETRLI
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $973.1M | $1.7B | ||
| Q2 24 | $881.5M | $1.6B | ||
| Q1 24 | $797.2M | $1.5B |
总资产NETRLI
| Q4 25 | $6.0B | $6.2B | ||
| Q3 25 | $5.8B | $6.2B | ||
| Q2 25 | $5.6B | $6.0B | ||
| Q1 25 | $3.7B | $5.7B | ||
| Q4 24 | $3.3B | $5.6B | ||
| Q3 24 | $3.1B | $5.8B | ||
| Q2 24 | $2.9B | $5.5B | ||
| Q1 24 | $2.8B | $5.3B |
负债/权益比NETRLI
| Q4 25 | — | — | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.06× | ||
| Q1 24 | — | 0.07× |
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 | $156.8M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $155.0M |
| 自由现金流率自由现金流/营收 | 17.1% | 33.3% |
| 资本支出强度资本支出/营收 | 13.9% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.72× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $608.7M |
8季度趋势，按日历期对齐
经营现金流NETRLI
| Q4 25 | $190.4M | $156.8M | ||
| Q3 25 | $167.1M | $179.2M | ||
| Q2 25 | $99.8M | $174.7M | ||
| Q1 25 | $145.8M | $103.5M | ||
| Q4 24 | $127.3M | $128.1M | ||
| Q3 24 | $104.7M | $219.4M | ||
| Q2 24 | $74.8M | $141.8M | ||
| Q1 24 | $73.6M | $70.9M |
自由现金流NETRLI
| Q4 25 | $105.2M | $155.0M | ||
| Q3 25 | $82.5M | $177.8M | ||
| Q2 25 | $39.9M | $173.4M | ||
| Q1 25 | $59.9M | $102.5M | ||
| Q4 24 | $54.2M | $127.6M | ||
| Q3 24 | $54.5M | $219.0M | ||
| Q2 24 | $45.2M | $139.1M | ||
| Q1 24 | $41.5M | $69.9M |
自由现金流率NETRLI
| Q4 25 | 17.1% | 33.3% | ||
| Q3 25 | 14.7% | 34.9% | ||
| Q2 25 | 7.8% | 34.7% | ||
| Q1 25 | 12.5% | 25.1% | ||
| Q4 24 | 11.8% | 29.0% | ||
| Q3 24 | 12.7% | 46.6% | ||
| Q2 24 | 11.3% | 33.4% | ||
| Q1 24 | 11.0% | 15.7% |
资本支出强度NETRLI
| Q4 25 | 13.9% | 0.4% | ||
| Q3 25 | 15.1% | 0.3% | ||
| Q2 25 | 11.7% | 0.3% | ||
| Q1 25 | 17.9% | 0.3% | ||
| Q4 24 | 15.9% | 0.1% | ||
| Q3 24 | 11.7% | 0.1% | ||
| Q2 24 | 7.4% | 0.7% | ||
| Q1 24 | 8.5% | 0.2% |
现金转化率NETRLI
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 1.44× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 3.13× | ||
| Q3 24 | — | 2.31× | ||
| Q2 24 | — | 1.73× | ||
| Q1 24 | — | 0.55× |
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% |
RLI
| Casualty Segment | $246.8M | 53% |
| Property Insurance Segment | $122.5M | 26% |
| Other | $59.3M | 13% |
| Surety Insurance Segment | $37.1M | 8% |
