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Cloudflare, Inc.（NET）与SAFETY INSURANCE GROUP INC（SAFT）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SAFETY INSURANCE GROUP INC的1.9倍（$614.5M vs $319.3M），SAFETY INSURANCE GROUP INC净利率更高（6.3% vs -2.0%，领先8.3%），Cloudflare, Inc.同比增速更快（33.6% vs 11.4%），SAFETY INSURANCE GROUP INC自由现金流更多（$192.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 9.1%）
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。
全美互助保险集团及其关联公司，常简称为Nationwide，是一家总部位于美国俄亥俄州哥伦布市的大型保险金融服务集团，在亚利桑那州斯科茨代尔、爱荷华州得梅因都设有区域总部。目前集团拥有约2.4万名员工，位列2025年财富美国500强榜单第72名。
NET vs SAFT — 直观对比
营收规模更大
NET
是对方的1.9倍
$319.3M
营收增速更快
NET
高出22.2%
11.4%
净利率更高
SAFT
高出8.3%
-2.0%
自由现金流更多
SAFT
多$86.8M
$105.2M
两年增速更快
NET
近两年复合增速
9.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $319.3M |
| 净利润 | $-12.1M | $20.1M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 8.0% |
| 净利率 | -2.0% | 6.3% |
| 营收同比 | 33.6% | 11.4% |
| 净利润同比 | 6.0% | 147.3% |
| 每股收益（稀释后） | $-0.03 | $1.36 |
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NETSAFT
| Q4 25 | $614.5M | $319.3M | ||
| Q3 25 | $562.0M | $326.6M | ||
| Q2 25 | $512.3M | $316.3M | ||
| Q1 25 | $479.1M | $301.4M | ||
| Q4 24 | $459.9M | $286.7M | ||
| Q3 24 | $430.1M | $295.3M | ||
| Q2 24 | $401.0M | $269.8M | ||
| Q1 24 | $378.6M | $268.2M |
净利润NETSAFT
| Q4 25 | $-12.1M | $20.1M | ||
| Q3 25 | $-1.3M | $28.3M | ||
| Q2 25 | $-50.4M | $28.9M | ||
| Q1 25 | $-38.5M | $21.9M | ||
| Q4 24 | $-12.8M | $8.1M | ||
| Q3 24 | $-15.3M | $25.9M | ||
| Q2 24 | $-15.1M | $16.6M | ||
| Q1 24 | $-35.5M | $20.1M |
毛利率NETSAFT
| 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NETSAFT
| Q4 25 | -8.0% | 8.0% | ||
| Q3 25 | -6.7% | 11.1% | ||
| Q2 25 | -13.1% | 11.6% | ||
| Q1 25 | -11.1% | 9.4% | ||
| Q4 24 | -7.5% | 3.5% | ||
| Q3 24 | -7.2% | 11.1% | ||
| Q2 24 | -8.7% | 7.9% | ||
| Q1 24 | -14.4% | 9.5% |
净利率NETSAFT
| Q4 25 | -2.0% | 6.3% | ||
| Q3 25 | -0.2% | 8.7% | ||
| Q2 25 | -9.8% | 9.1% | ||
| Q1 25 | -8.0% | 7.3% | ||
| Q4 24 | -2.8% | 2.8% | ||
| Q3 24 | -3.6% | 8.8% | ||
| Q2 24 | -3.8% | 6.2% | ||
| Q1 24 | -9.4% | 7.5% |
每股收益（稀释后）NETSAFT
| Q4 25 | $-0.03 | $1.36 | ||
| Q3 25 | $0.00 | $1.91 | ||
| Q2 25 | $-0.15 | $1.95 | ||
| Q1 25 | $-0.11 | $1.48 | ||
| Q4 24 | $-0.05 | $0.56 | ||
| Q3 24 | $-0.04 | $1.73 | ||
| Q2 24 | $-0.04 | $1.13 | ||
| Q1 24 | $-0.10 | $1.36 |
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 | $73.9M |
| 总债务越低越好 | — | $50.0M |
| 股东权益账面价值 | $1.5B | $892.3M |
| 总资产 | $6.0B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资NETSAFT
| Q4 25 | $943.5M | $73.9M | ||
| Q3 25 | $1.1B | $56.2M | ||
| Q2 25 | $1.5B | $49.4M | ||
| Q1 25 | $204.5M | $64.7M | ||
| Q4 24 | $147.7M | $59.0M | ||
| Q3 24 | $182.9M | $82.3M | ||
| Q2 24 | $157.0M | $44.6M | ||
| Q1 24 | $254.4M | $30.8M |
总债务NETSAFT
| Q4 25 | — | $50.0M | ||
| Q3 25 | — | $30.0M | ||
| Q2 25 | — | $30.0M | ||
| Q1 25 | — | $30.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NETSAFT
| Q4 25 | $1.5B | $892.3M | ||
| Q3 25 | $1.3B | $899.6M | ||
| Q2 25 | $1.2B | $873.3M | ||
| Q1 25 | $1.4B | $850.7M | ||
| Q4 24 | $1.0B | $828.5M | ||
| Q3 24 | $973.1M | $851.4M | ||
| Q2 24 | $881.5M | $810.2M | ||
| Q1 24 | $797.2M | $807.1M |
总资产NETSAFT
| Q4 25 | $6.0B | $2.5B | ||
| Q3 25 | $5.8B | $2.4B | ||
| Q2 25 | $5.6B | $2.4B | ||
| Q1 25 | $3.7B | $2.3B | ||
| Q4 24 | $3.3B | $2.3B | ||
| Q3 24 | $3.1B | $2.3B | ||
| Q2 24 | $2.9B | $2.2B | ||
| Q1 24 | $2.8B | $2.1B |
负债/权益比NETSAFT
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $194.5M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $192.0M |
| 自由现金流率自由现金流/营收 | 17.1% | 60.1% |
| 资本支出强度资本支出/营收 | 13.9% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 9.67× |
| 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NETSAFT
| Q4 25 | $190.4M | $194.5M | ||
| Q3 25 | $167.1M | $85.5M | ||
| Q2 25 | $99.8M | $32.3M | ||
| Q1 25 | $145.8M | $3.2M | ||
| Q4 24 | $127.3M | $128.7M | ||
| Q3 24 | $104.7M | $73.8M | ||
| Q2 24 | $74.8M | $25.6M | ||
| Q1 24 | $73.6M | $-21.1M |
自由现金流NETSAFT
| Q4 25 | $105.2M | $192.0M | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | $32.3M | ||
| Q1 25 | $59.9M | $2.8M | ||
| Q4 24 | $54.2M | $124.3M | ||
| Q3 24 | $54.5M | $73.2M | ||
| Q2 24 | $45.2M | $25.0M | ||
| Q1 24 | $41.5M | $-24.2M |
自由现金流率NETSAFT
| Q4 25 | 17.1% | 60.1% | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | 10.2% | ||
| Q1 25 | 12.5% | 0.9% | ||
| Q4 24 | 11.8% | 43.4% | ||
| Q3 24 | 12.7% | 24.8% | ||
| Q2 24 | 11.3% | 9.3% | ||
| Q1 24 | 11.0% | -9.0% |
资本支出强度NETSAFT
| Q4 25 | 13.9% | 0.8% | ||
| Q3 25 | 15.1% | 0.0% | ||
| Q2 25 | 11.7% | 0.0% | ||
| Q1 25 | 17.9% | 0.1% | ||
| Q4 24 | 15.9% | 1.5% | ||
| Q3 24 | 11.7% | 0.2% | ||
| Q2 24 | 7.4% | 0.2% | ||
| Q1 24 | 8.5% | 1.1% |
现金转化率NETSAFT
| Q4 25 | — | 9.67× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 15.83× | ||
| Q3 24 | — | 2.85× | ||
| Q2 24 | — | 1.54× | ||
| Q1 24 | — | -1.05× |
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% |
SAFT
暂无分部数据
