vs
Cloudflare, Inc.（NET）与STEWART INFORMATION SERVICES CORP（STC）财务数据对比。点击上方公司名可切换其他公司
STEWART INFORMATION SERVICES CORP的季度营收约是Cloudflare, Inc.的1.2倍（$764.6M vs $614.5M），STEWART INFORMATION SERVICES CORP净利率更高（2.2% vs -2.0%，领先4.2%），Cloudflare, Inc.同比增速更快（33.6% vs 27.7%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 12.7%）
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。
斯图尔特信息服务公司（STC）是一家主营房地产信息、产权保险及交易管理服务的企业，旗下全资子公司斯图尔特产权担保公司、斯图尔特产权公司通过直营网点、斯图尔特可信供应商网络内的独立代理机构及合作企业，为美国及全球市场提供相关产品与服务，总部位于得克萨斯州休斯敦，现有员工约6350人。
NET vs STC — 直观对比
营收规模更大
STC
是对方的1.2倍
$614.5M
营收增速更快
NET
高出5.9%
27.7%
净利率更高
STC
高出4.2%
-2.0%
两年增速更快
NET
近两年复合增速
12.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $764.6M |
| 净利润 | $-12.1M | $17.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | — |
| 净利率 | -2.0% | 2.2% |
| 营收同比 | 33.6% | 27.7% |
| 净利润同比 | 6.0% | 448.4% |
| 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NETSTC
| Q1 26 | — | $764.6M | ||
| Q4 25 | $614.5M | $790.6M | ||
| Q3 25 | $562.0M | $796.9M | ||
| Q2 25 | $512.3M | $722.2M | ||
| Q1 25 | $479.1M | $612.0M | ||
| Q4 24 | $459.9M | $665.9M | ||
| Q3 24 | $430.1M | $667.9M | ||
| Q2 24 | $401.0M | $602.2M |
净利润NETSTC
| Q1 26 | — | $17.0M | ||
| Q4 25 | $-12.1M | $36.3M | ||
| Q3 25 | $-1.3M | $44.3M | ||
| Q2 25 | $-50.4M | $31.9M | ||
| Q1 25 | $-38.5M | $3.1M | ||
| Q4 24 | $-12.8M | $22.7M | ||
| Q3 24 | $-15.3M | $30.1M | ||
| Q2 24 | $-15.1M | $17.3M |
毛利率NETSTC
| Q1 26 | — | — | ||
| 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% | — |
营业利润率NETSTC
| Q1 26 | — | — | ||
| Q4 25 | -8.0% | 6.5% | ||
| Q3 25 | -6.7% | 7.7% | ||
| Q2 25 | -13.1% | 6.5% | ||
| Q1 25 | -11.1% | 1.0% | ||
| Q4 24 | -7.5% | 5.3% | ||
| Q3 24 | -7.2% | 6.4% | ||
| Q2 24 | -8.7% | 4.8% |
净利率NETSTC
| Q1 26 | — | 2.2% | ||
| Q4 25 | -2.0% | 4.6% | ||
| Q3 25 | -0.2% | 5.6% | ||
| Q2 25 | -9.8% | 4.4% | ||
| Q1 25 | -8.0% | 0.5% | ||
| Q4 24 | -2.8% | 3.4% | ||
| Q3 24 | -3.6% | 4.5% | ||
| Q2 24 | -3.8% | 2.9% |
每股收益（稀释后）NETSTC
| Q1 26 | — | — | ||
| Q4 25 | $-0.03 | $1.26 | ||
| Q3 25 | $0.00 | $1.55 | ||
| Q2 25 | $-0.15 | $1.13 | ||
| Q1 25 | $-0.11 | $0.11 | ||
| Q4 24 | $-0.05 | $0.81 | ||
| Q3 24 | $-0.04 | $1.07 | ||
| Q2 24 | $-0.04 | $0.62 |
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 | $317.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $6.0B | — |
| 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NETSTC
| Q1 26 | — | $317.5M | ||
| Q4 25 | $943.5M | $369.7M | ||
| Q3 25 | $1.1B | $233.2M | ||
| Q2 25 | $1.5B | $223.8M | ||
| Q1 25 | $204.5M | $194.2M | ||
| Q4 24 | $147.7M | $257.5M | ||
| Q3 24 | $182.9M | $228.7M | ||
| Q2 24 | $157.0M | $176.7M |
总债务NETSTC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $445.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NETSTC
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $973.1M | $1.4B | ||
| Q2 24 | $881.5M | $1.4B |
总资产NETSTC
| Q1 26 | — | — | ||
| Q4 25 | $6.0B | $3.3B | ||
| Q3 25 | $5.8B | $2.8B | ||
| Q2 25 | $5.6B | $2.8B | ||
| Q1 25 | $3.7B | $2.7B | ||
| Q4 24 | $3.3B | $2.7B | ||
| Q3 24 | $3.1B | $2.7B | ||
| Q2 24 | $2.9B | $2.6B |
负债/权益比NETSTC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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NETSTC
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $89.5M | ||
| Q3 25 | $167.1M | $92.6M | ||
| Q2 25 | $99.8M | $53.4M | ||
| Q1 25 | $145.8M | $-29.9M | ||
| Q4 24 | $127.3M | $68.0M | ||
| Q3 24 | $104.7M | $76.1M | ||
| Q2 24 | $74.8M | $21.1M |
自由现金流NETSTC
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $62.3M | ||
| Q3 25 | $82.5M | $73.6M | ||
| Q2 25 | $39.9M | $38.7M | ||
| Q1 25 | $59.9M | $-42.2M | ||
| Q4 24 | $54.2M | $55.6M | ||
| Q3 24 | $54.5M | $67.4M | ||
| Q2 24 | $45.2M | $11.9M |
自由现金流率NETSTC
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 7.9% | ||
| Q3 25 | 14.7% | 9.2% | ||
| Q2 25 | 7.8% | 5.4% | ||
| Q1 25 | 12.5% | -6.9% | ||
| Q4 24 | 11.8% | 8.4% | ||
| Q3 24 | 12.7% | 10.1% | ||
| Q2 24 | 11.3% | 2.0% |
资本支出强度NETSTC
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 3.4% | ||
| Q3 25 | 15.1% | 2.4% | ||
| Q2 25 | 11.7% | 2.0% | ||
| Q1 25 | 17.9% | 2.0% | ||
| Q4 24 | 15.9% | 1.9% | ||
| Q3 24 | 11.7% | 1.3% | ||
| Q2 24 | 7.4% | 1.5% |
现金转化率NETSTC
| Q1 26 | — | — | ||
| Q4 25 | — | 2.47× | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | 1.67× | ||
| Q1 25 | — | -9.73× | ||
| Q4 24 | — | 2.99× | ||
| Q3 24 | — | 2.53× | ||
| Q2 24 | — | 1.22× |
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% |
STC
| Agency title | $333.0M | 44% |
| Direct title | $270.2M | 35% |
| Real estate solutions | $161.4M | 21% |
