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Cloudflare, Inc.（NET）与美乐棵（SMG）财务数据对比。点击上方公司名可切换其他公司
美乐棵的季度营收约是Cloudflare, Inc.的2.4倍（$1.5B vs $614.5M），美乐棵净利率更高（16.3% vs -2.0%，领先18.3%），Cloudflare, Inc.同比增速更快（33.6% vs -16.9%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 10.2%）
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。
美乐棵公司是一家总部位于俄亥俄州马里斯维尔的美国跨国企业，其前身可追溯至1868年O.M.斯科特开始销售草种的业务。公司主营草坪养护、园艺种植、虫害防治类消费产品以及无土室内园艺设备，旗下拥有Scotts、Miracle-Gro、Ortho等知名品牌，同时在美国及中国等多个国际市场销售和分销除草剂Roundup。
NET vs SMG — 直观对比
营收规模更大
SMG
是对方的2.4倍
$614.5M
营收增速更快
NET
高出50.5%
-16.9%
净利率更高
SMG
高出18.3%
-2.0%
两年增速更快
NET
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $1.5B |
| 净利润 | $-12.1M | $238.6M |
| 毛利率 | 73.6% | 41.8% |
| 营业利润率 | -8.0% | 27.5% |
| 净利率 | -2.0% | 16.3% |
| 营收同比 | 33.6% | -16.9% |
| 净利润同比 | 6.0% | 61.2% |
| 每股收益（稀释后） | $-0.03 | $-2.00 |
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NETSMG
| Q1 26 | — | $1.5B | ||
| Q4 25 | $614.5M | $354.4M | ||
| Q3 25 | $562.0M | $387.3M | ||
| Q2 25 | $512.3M | $1.2B | ||
| Q1 25 | $479.1M | $1.4B | ||
| Q4 24 | $459.9M | $416.8M | ||
| Q3 24 | $430.1M | $414.7M | ||
| Q2 24 | $401.0M | $1.2B |
净利润NETSMG
| Q1 26 | — | $238.6M | ||
| Q4 25 | $-12.1M | $-125.0M | ||
| Q3 25 | $-1.3M | — | ||
| Q2 25 | $-50.4M | $149.1M | ||
| Q1 25 | $-38.5M | $217.5M | ||
| Q4 24 | $-12.8M | $-69.5M | ||
| Q3 24 | $-15.3M | — | ||
| Q2 24 | $-15.1M | $132.1M |
毛利率NETSMG
| Q1 26 | — | 41.8% | ||
| Q4 25 | 73.6% | 25.0% | ||
| Q3 25 | 74.0% | 6.1% | ||
| Q2 25 | 74.9% | 31.8% | ||
| Q1 25 | 75.9% | 38.6% | ||
| Q4 24 | 76.4% | 22.7% | ||
| Q3 24 | 77.7% | -7.1% | ||
| Q2 24 | 77.8% | 29.5% |
营业利润率NETSMG
| Q1 26 | — | 27.5% | ||
| Q4 25 | -8.0% | -6.2% | ||
| Q3 25 | -6.7% | -38.8% | ||
| Q2 25 | -13.1% | 18.1% | ||
| Q1 25 | -11.1% | 24.3% | ||
| Q4 24 | -7.5% | -12.2% | ||
| Q3 24 | -7.2% | -52.1% | ||
| Q2 24 | -8.7% | 16.6% |
净利率NETSMG
| Q1 26 | — | 16.3% | ||
| Q4 25 | -2.0% | -35.3% | ||
| Q3 25 | -0.2% | — | ||
| Q2 25 | -9.8% | 12.6% | ||
| Q1 25 | -8.0% | 15.3% | ||
| Q4 24 | -2.8% | -16.7% | ||
| Q3 24 | -3.6% | — | ||
| Q2 24 | -3.8% | 11.0% |
每股收益（稀释后）NETSMG
| Q1 26 | — | $-2.00 | ||
| Q4 25 | $-0.03 | $-2.16 | ||
| Q3 25 | $0.00 | $-2.58 | ||
| Q2 25 | $-0.15 | $2.54 | ||
| Q1 25 | $-0.11 | $3.72 | ||
| Q4 24 | $-0.05 | $-1.21 | ||
| Q3 24 | $-0.04 | $-4.21 | ||
| Q2 24 | $-0.04 | $2.28 |
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 | $6.2M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $6.0B | $3.4B |
| 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NETSMG
| Q1 26 | — | $6.2M | ||
| Q4 25 | $943.5M | $8.3M | ||
| Q3 25 | $1.1B | $36.6M | ||
| Q2 25 | $1.5B | $51.1M | ||
| Q1 25 | $204.5M | $16.9M | ||
| Q4 24 | $147.7M | $9.8M | ||
| Q3 24 | $182.9M | $71.6M | ||
| Q2 24 | $157.0M | $279.9M |
总债务NETSMG
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | — |
股东权益NETSMG
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $-500.6M | ||
| Q3 25 | $1.3B | $-357.5M | ||
| Q2 25 | $1.2B | $-170.9M | ||
| Q1 25 | $1.4B | $-290.1M | ||
| Q4 24 | $1.0B | $-479.5M | ||
| Q3 24 | $973.1M | $-390.6M | ||
| Q2 24 | $881.5M | $-146.2M |
总资产NETSMG
| Q1 26 | — | $3.4B | ||
| Q4 25 | $6.0B | $3.0B | ||
| Q3 25 | $5.8B | $2.7B | ||
| Q2 25 | $5.6B | $3.1B | ||
| Q1 25 | $3.7B | $3.5B | ||
| Q4 24 | $3.3B | $3.2B | ||
| Q3 24 | $3.1B | $2.9B | ||
| Q2 24 | $2.9B | $3.5B |
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NETSMG
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $-370.4M | ||
| Q3 25 | $167.1M | $174.1M | ||
| Q2 25 | $99.8M | $454.4M | ||
| Q1 25 | $145.8M | $188.1M | ||
| Q4 24 | $127.3M | $-445.3M | ||
| Q3 24 | $104.7M | $118.5M | ||
| Q2 24 | $74.8M | $588.0M |
自由现金流NETSMG
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $-390.4M | ||
| Q3 25 | $82.5M | $131.2M | ||
| Q2 25 | $39.9M | $437.5M | ||
| Q1 25 | $59.9M | $179.8M | ||
| Q4 24 | $54.2M | $-474.6M | ||
| Q3 24 | $54.5M | $101.9M | ||
| Q2 24 | $45.2M | $574.8M |
自由现金流率NETSMG
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | -110.2% | ||
| Q3 25 | 14.7% | 33.9% | ||
| Q2 25 | 7.8% | 36.8% | ||
| Q1 25 | 12.5% | 12.7% | ||
| Q4 24 | 11.8% | -113.9% | ||
| Q3 24 | 12.7% | 24.6% | ||
| Q2 24 | 11.3% | 47.8% |
资本支出强度NETSMG
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 5.6% | ||
| Q3 25 | 15.1% | 11.1% | ||
| Q2 25 | 11.7% | 1.4% | ||
| Q1 25 | 17.9% | 0.6% | ||
| Q4 24 | 15.9% | 7.0% | ||
| Q3 24 | 11.7% | 4.0% | ||
| Q2 24 | 7.4% | 1.1% |
现金转化率NETSMG
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.05× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.45× |
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% |
SMG
暂无分部数据
