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Cloudflare, Inc.（NET）与全食超市（SMPL）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是全食超市的1.8倍（$614.5M vs $340.2M），全食超市净利率更高（7.4% vs -2.0%，领先9.4%），Cloudflare, Inc.同比增速更快（33.6% vs -0.3%），Cloudflare, Inc.自由现金流更多（$105.2M vs $48.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 3.0%）
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。
全食超市是总部位于美国得克萨斯州奥斯汀的跨国连锁超市，现为亚马逊全资旗下品牌。门店主打无氢化脂肪、人工色素、人工香精、防腐剂的天然食品，是美国农业部认证的有机食品零售商，以丰富的有机商品选择深受消费者欢迎。
NET vs SMPL — 直观对比
营收规模更大
NET
是对方的1.8倍
$340.2M
营收增速更快
NET
高出33.9%
-0.3%
净利率更高
SMPL
高出9.4%
-2.0%
自由现金流更多
NET
多$57.2M
$48.0M
两年增速更快
NET
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $340.2M |
| 净利润 | $-12.1M | $25.3M |
| 毛利率 | 73.6% | 32.3% |
| 营业利润率 | -8.0% | 11.0% |
| 净利率 | -2.0% | 7.4% |
| 营收同比 | 33.6% | -0.3% |
| 净利润同比 | 6.0% | -33.7% |
| 每股收益（稀释后） | $-0.03 | $0.26 |
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NETSMPL
| Q4 25 | $614.5M | $340.2M | ||
| Q3 25 | $562.0M | — | ||
| Q2 25 | $512.3M | $381.0M | ||
| Q1 25 | $479.1M | — | ||
| Q4 24 | $459.9M | $341.3M | ||
| Q3 24 | $430.1M | $375.7M | ||
| Q2 24 | $401.0M | $334.8M | ||
| Q1 24 | $378.6M | $312.2M |
净利润NETSMPL
| Q4 25 | $-12.1M | $25.3M | ||
| Q3 25 | $-1.3M | — | ||
| Q2 25 | $-50.4M | $41.1M | ||
| Q1 25 | $-38.5M | — | ||
| Q4 24 | $-12.8M | $38.1M | ||
| Q3 24 | $-15.3M | $29.3M | ||
| Q2 24 | $-15.1M | $41.3M | ||
| Q1 24 | $-35.5M | $33.1M |
毛利率NETSMPL
| Q4 25 | 73.6% | 32.3% | ||
| Q3 25 | 74.0% | — | ||
| Q2 25 | 74.9% | 36.4% | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | 38.2% | ||
| Q3 24 | 77.7% | 38.8% | ||
| Q2 24 | 77.8% | 39.9% | ||
| Q1 24 | 77.5% | 37.4% |
营业利润率NETSMPL
| Q4 25 | -8.0% | 11.0% | ||
| Q3 25 | -6.7% | — | ||
| Q2 25 | -13.1% | 15.6% | ||
| Q1 25 | -11.1% | — | ||
| Q4 24 | -7.5% | 16.0% | ||
| Q3 24 | -7.2% | 12.7% | ||
| Q2 24 | -8.7% | 17.6% | ||
| Q1 24 | -14.4% | 15.4% |
净利率NETSMPL
| Q4 25 | -2.0% | 7.4% | ||
| Q3 25 | -0.2% | — | ||
| Q2 25 | -9.8% | 10.8% | ||
| Q1 25 | -8.0% | — | ||
| Q4 24 | -2.8% | 11.2% | ||
| Q3 24 | -3.6% | 7.8% | ||
| Q2 24 | -3.8% | 12.3% | ||
| Q1 24 | -9.4% | 10.6% |
每股收益（稀释后）NETSMPL
| Q4 25 | $-0.03 | $0.26 | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.15 | $0.40 | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.05 | $0.38 | ||
| Q3 24 | $-0.04 | $0.29 | ||
| Q2 24 | $-0.04 | $0.41 | ||
| Q1 24 | $-0.10 | $0.33 |
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 | $194.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $6.0B | $2.5B |
| 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NETSMPL
| Q4 25 | $943.5M | $194.1M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | $98.0M | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | $121.8M | ||
| Q3 24 | $182.9M | $132.5M | ||
| Q2 24 | $157.0M | $208.7M | ||
| Q1 24 | $254.4M | $135.9M |
总债务NETSMPL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $397.5M | ||
| Q2 24 | — | $237.7M | ||
| Q1 24 | — | $237.7M |
股东权益NETSMPL
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $973.1M | $1.7B | ||
| Q2 24 | $881.5M | $1.7B | ||
| Q1 24 | $797.2M | $1.6B |
总资产NETSMPL
| Q4 25 | $6.0B | $2.5B | ||
| Q3 25 | $5.8B | — | ||
| Q2 25 | $5.6B | $2.4B | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.3B | $2.4B | ||
| Q3 24 | $3.1B | $2.4B | ||
| Q2 24 | $2.9B | $2.2B | ||
| Q1 24 | $2.8B | $2.1B |
负债/权益比NETSMPL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $50.1M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $48.0M |
| 自由现金流率自由现金流/营收 | 17.1% | 14.1% |
| 资本支出强度资本支出/营收 | 13.9% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $223.6M |
8季度趋势，按日历期对齐
经营现金流NETSMPL
| Q4 25 | $190.4M | $50.1M | ||
| Q3 25 | $167.1M | — | ||
| Q2 25 | $99.8M | $101.1M | ||
| Q1 25 | $145.8M | — | ||
| Q4 24 | $127.3M | $32.0M | ||
| Q3 24 | $104.7M | $48.9M | ||
| Q2 24 | $74.8M | $72.8M | ||
| Q1 24 | $73.6M | $46.5M |
自由现金流NETSMPL
| Q4 25 | $105.2M | $48.0M | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | $98.9M | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | $31.7M | ||
| Q3 24 | $54.5M | $45.0M | ||
| Q2 24 | $45.2M | $72.0M | ||
| Q1 24 | $41.5M | $46.1M |
自由现金流率NETSMPL
| Q4 25 | 17.1% | 14.1% | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | 25.9% | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | 9.3% | ||
| Q3 24 | 12.7% | 12.0% | ||
| Q2 24 | 11.3% | 21.5% | ||
| Q1 24 | 11.0% | 14.8% |
资本支出强度NETSMPL
| Q4 25 | 13.9% | 0.6% | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | 0.6% | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | 0.1% | ||
| Q3 24 | 11.7% | 1.0% | ||
| Q2 24 | 7.4% | 0.2% | ||
| Q1 24 | 8.5% | 0.1% |
现金转化率NETSMPL
| Q4 25 | — | 1.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.46× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.76× | ||
| Q1 24 | — | 1.40× |
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% |
SMPL
| Quest | $211.4M | 62% |
| Atkins Domain | $79.7M | 23% |
| OWYN | $28.1M | 8% |
| Other | $20.9M | 6% |
