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Cloudflare, Inc.（NET）与SPX Technologies, Inc.（SPXC）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SPX Technologies, Inc.的1.1倍（$614.5M vs $566.8M），SPX Technologies, Inc.净利率更高（10.6% vs -2.0%，领先12.5%），Cloudflare, Inc.同比增速更快（33.6% vs 22.0%），Cloudflare, Inc.自由现金流更多（$105.2M vs $11.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.3%）
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。
SPX Technologies是美国头部制造企业，总部位于北卡罗来纳州夏洛特市，业务布局暖通空调、检测测量、输发电及工程解决方案四大核心领域，产品涵盖冷却塔、锅炉、地下管线定位仪、电力变压器、热交换器等，旗下拥有Waukesha、Dielectric、Genfare等多个知名品牌。
NET vs SPXC — 直观对比
营收规模更大
NET
是对方的1.1倍
$566.8M
营收增速更快
NET
高出11.6%
22.0%
净利率更高
SPXC
高出12.5%
-2.0%
自由现金流更多
NET
多$93.9M
$11.3M
两年增速更快
NET
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $566.8M |
| 净利润 | $-12.1M | $59.9M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 15.5% |
| 净利率 | -2.0% | 10.6% |
| 营收同比 | 33.6% | 22.0% |
| 净利润同比 | 6.0% | 17.0% |
| 每股收益（稀释后） | $-0.03 | — |
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NETSPXC
| Q1 26 | — | $566.8M | ||
| Q4 25 | $614.5M | $637.3M | ||
| Q3 25 | $562.0M | $592.8M | ||
| Q2 25 | $512.3M | $552.4M | ||
| Q1 25 | $479.1M | $482.6M | ||
| Q4 24 | $459.9M | $533.7M | ||
| Q3 24 | $430.1M | $483.7M | ||
| Q2 24 | $401.0M | $501.3M |
净利润NETSPXC
| Q1 26 | — | $59.9M | ||
| Q4 25 | $-12.1M | $77.9M | ||
| Q3 25 | $-1.3M | $62.7M | ||
| Q2 25 | $-50.4M | $52.2M | ||
| Q1 25 | $-38.5M | $51.2M | ||
| Q4 24 | $-12.8M | $57.1M | ||
| Q3 24 | $-15.3M | $50.2M | ||
| Q2 24 | $-15.1M | $44.2M |
毛利率NETSPXC
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 39.8% | ||
| Q3 25 | 74.0% | 40.4% | ||
| Q2 25 | 74.9% | 41.4% | ||
| Q1 25 | 75.9% | 40.6% | ||
| Q4 24 | 76.4% | 40.9% | ||
| Q3 24 | 77.7% | 40.9% | ||
| Q2 24 | 77.8% | 40.1% |
营业利润率NETSPXC
| Q1 26 | — | 15.5% | ||
| Q4 25 | -8.0% | 15.7% | ||
| Q3 25 | -6.7% | 16.4% | ||
| Q2 25 | -13.1% | 15.7% | ||
| Q1 25 | -11.1% | 13.8% | ||
| Q4 24 | -7.5% | 16.9% | ||
| Q3 24 | -7.2% | 16.3% | ||
| Q2 24 | -8.7% | 14.9% |
净利率NETSPXC
| Q1 26 | — | 10.6% | ||
| Q4 25 | -2.0% | 12.2% | ||
| Q3 25 | -0.2% | 10.6% | ||
| Q2 25 | -9.8% | 9.4% | ||
| Q1 25 | -8.0% | 10.6% | ||
| Q4 24 | -2.8% | 10.7% | ||
| Q3 24 | -3.6% | 10.4% | ||
| Q2 24 | -3.8% | 8.8% |
每股收益（稀释后）NETSPXC
| Q1 26 | — | — | ||
| Q4 25 | $-0.03 | $1.56 | ||
| Q3 25 | $0.00 | $1.28 | ||
| Q2 25 | $-0.15 | $1.10 | ||
| Q1 25 | $-0.11 | $1.09 | ||
| Q4 24 | $-0.05 | $1.21 | ||
| Q3 24 | $-0.04 | $1.06 | ||
| Q2 24 | $-0.04 | $0.94 |
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 | $156.5M |
| 总债务越低越好 | — | $667.3M |
| 股东权益账面价值 | $1.5B | $2.3B |
| 总资产 | $6.0B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 0.29× |
8季度趋势，按日历期对齐
现金及短期投资NETSPXC
| Q1 26 | — | $156.5M | ||
| Q4 25 | $943.5M | $364.0M | ||
| Q3 25 | $1.1B | $229.4M | ||
| Q2 25 | $1.5B | $132.8M | ||
| Q1 25 | $204.5M | $177.8M | ||
| Q4 24 | $147.7M | $156.9M | ||
| Q3 24 | $182.9M | $124.8M | ||
| Q2 24 | $157.0M | $128.1M |
总债务NETSPXC
| Q1 26 | — | $667.3M | ||
| Q4 25 | — | $496.7M | ||
| Q3 25 | — | $499.8M | ||
| Q2 25 | — | $950.3M | ||
| Q1 25 | — | $872.0M | ||
| Q4 24 | — | $577.0M | ||
| Q3 24 | — | $665.2M | ||
| Q2 24 | — | $509.9M |
股东权益NETSPXC
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.5B | $2.2B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $973.1M | $1.4B | ||
| Q2 24 | $881.5M | $1.3B |
总资产NETSPXC
| Q1 26 | — | $3.9B | ||
| Q4 25 | $6.0B | $3.6B | ||
| Q3 25 | $5.8B | $3.4B | ||
| Q2 25 | $5.6B | $3.3B | ||
| Q1 25 | $3.7B | $3.1B | ||
| Q4 24 | $3.3B | $2.7B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $2.9B | $2.8B |
负债/权益比NETSPXC
| Q1 26 | — | 0.29× | ||
| Q4 25 | — | 0.22× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.40× |
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 | $11.3M |
| 自由现金流率自由现金流/营收 | 17.1% | 2.0% |
| 资本支出强度资本支出/营收 | 13.9% | 3.3% |
| 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 | $268.9M |
8季度趋势，按日历期对齐
经营现金流NETSPXC
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $195.2M | ||
| Q3 25 | $167.1M | $106.5M | ||
| Q2 25 | $99.8M | $42.5M | ||
| Q1 25 | $145.8M | $-10.9M | ||
| Q4 24 | $127.3M | $166.5M | ||
| Q3 24 | $104.7M | $51.4M | ||
| Q2 24 | $74.8M | $57.5M |
自由现金流NETSPXC
| Q1 26 | — | $11.3M | ||
| Q4 25 | $105.2M | $126.7M | ||
| Q3 25 | $82.5M | $96.1M | ||
| Q2 25 | $39.9M | $34.8M | ||
| Q1 25 | $59.9M | $-16.4M | ||
| Q4 24 | $54.2M | $156.7M | ||
| Q3 24 | $54.5M | $43.5M | ||
| Q2 24 | $45.2M | $47.1M |
自由现金流率NETSPXC
| Q1 26 | — | 2.0% | ||
| Q4 25 | 17.1% | 19.9% | ||
| Q3 25 | 14.7% | 16.2% | ||
| Q2 25 | 7.8% | 6.3% | ||
| Q1 25 | 12.5% | -3.4% | ||
| Q4 24 | 11.8% | 29.4% | ||
| Q3 24 | 12.7% | 9.0% | ||
| Q2 24 | 11.3% | 9.4% |
资本支出强度NETSPXC
| Q1 26 | — | 3.3% | ||
| Q4 25 | 13.9% | 10.7% | ||
| Q3 25 | 15.1% | 1.8% | ||
| Q2 25 | 11.7% | 1.4% | ||
| Q1 25 | 17.9% | 1.1% | ||
| Q4 24 | 15.9% | 1.8% | ||
| Q3 24 | 11.7% | 1.6% | ||
| Q2 24 | 7.4% | 2.1% |
现金转化率NETSPXC
| Q1 26 | — | — | ||
| Q4 25 | — | 2.51× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | -0.21× | ||
| Q4 24 | — | 2.92× | ||
| Q3 24 | — | 1.02× | ||
| Q2 24 | — | 1.30× |
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% |
SPXC
暂无分部数据
