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Cloudflare, Inc.（NET）与Stagwell Inc（STGW）财务数据对比。点击上方公司名可切换其他公司
Stagwell Inc的季度营收约是Cloudflare, Inc.的1.1倍（$704.1M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -2.0%，领先0.0%），Cloudflare, Inc.同比增速更快（33.6% vs 8.0%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 2.4%）
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。
Stagwell Inc是一家全球营销传播集团，由马克·佩恩于2015年创立，前身为Stagwell Group。2020年集团宣布计划与关联企业MDC Partners合并，该合并交易于2021年8月正式完成，目前业务覆盖全球多个市场，为客户提供整合营销、品牌传播等专业服务。
NET vs STGW — 直观对比
营收规模更大
STGW
是对方的1.1倍
$614.5M
营收增速更快
NET
高出25.6%
8.0%
净利率更高
NET
高出0.0%
-2.0%
两年增速更快
NET
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $704.1M |
| 净利润 | $-12.1M | $-13.9M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 1.4% |
| 净利率 | -2.0% | -2.0% |
| 营收同比 | 33.6% | 8.0% |
| 净利润同比 | 6.0% | -344.7% |
| 每股收益（稀释后） | $-0.03 | $-0.05 |
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NETSTGW
| Q1 26 | — | $704.1M | ||
| Q4 25 | $614.5M | $807.4M | ||
| Q3 25 | $562.0M | $743.0M | ||
| Q2 25 | $512.3M | $706.8M | ||
| Q1 25 | $479.1M | $651.7M | ||
| Q4 24 | $459.9M | $788.7M | ||
| Q3 24 | $430.1M | $711.3M | ||
| Q2 24 | $401.0M | $671.2M |
净利润NETSTGW
| Q1 26 | — | $-13.9M | ||
| Q4 25 | $-12.1M | $12.7M | ||
| Q3 25 | $-1.3M | $24.6M | ||
| Q2 25 | $-50.4M | $-5.3M | ||
| Q1 25 | $-38.5M | $-2.9M | ||
| Q4 24 | $-12.8M | $3.2M | ||
| Q3 24 | $-15.3M | $3.3M | ||
| Q2 24 | $-15.1M | $-3.0M |
毛利率NETSTGW
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 37.6% | ||
| Q3 25 | 74.0% | 36.6% | ||
| Q2 25 | 74.9% | 35.0% | ||
| Q1 25 | 75.9% | 36.8% | ||
| Q4 24 | 76.4% | 36.3% | ||
| Q3 24 | 77.7% | 35.7% | ||
| Q2 24 | 77.8% | 34.6% |
营业利润率NETSTGW
| Q1 26 | — | 1.4% | ||
| Q4 25 | -8.0% | 7.0% | ||
| Q3 25 | -6.7% | 8.2% | ||
| Q2 25 | -13.1% | 3.3% | ||
| Q1 25 | -11.1% | 2.8% | ||
| Q4 24 | -7.5% | 5.5% | ||
| Q3 24 | -7.2% | 5.9% | ||
| Q2 24 | -8.7% | 3.3% |
净利率NETSTGW
| Q1 26 | — | -2.0% | ||
| Q4 25 | -2.0% | 1.6% | ||
| Q3 25 | -0.2% | 3.3% | ||
| Q2 25 | -9.8% | -0.7% | ||
| Q1 25 | -8.0% | -0.4% | ||
| Q4 24 | -2.8% | 0.4% | ||
| Q3 24 | -3.6% | 0.5% | ||
| Q2 24 | -3.8% | -0.4% |
每股收益（稀释后）NETSTGW
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.15 | — | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.05 | — | ||
| Q3 24 | $-0.04 | — | ||
| Q2 24 | $-0.04 | — |
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 | $114.9M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $1.5B | $722.5M |
| 总资产 | $6.0B | $4.2B |
| 负债/权益比越低杠杆越低 | — | 1.99× |
8季度趋势，按日历期对齐
现金及短期投资NETSTGW
| Q1 26 | — | $114.9M | ||
| Q4 25 | $943.5M | $104.5M | ||
| Q3 25 | $1.1B | $132.2M | ||
| Q2 25 | $1.5B | $181.3M | ||
| Q1 25 | $204.5M | $137.7M | ||
| Q4 24 | $147.7M | $131.3M | ||
| Q3 24 | $182.9M | $145.8M | ||
| Q2 24 | $157.0M | $136.1M |
总债务NETSTGW
| Q1 26 | — | $1.4B | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.4B |
股东权益NETSTGW
| Q1 26 | — | $722.5M | ||
| Q4 25 | $1.5B | $758.4M | ||
| Q3 25 | $1.3B | $749.0M | ||
| Q2 25 | $1.2B | $750.1M | ||
| Q1 25 | $1.4B | $334.4M | ||
| Q4 24 | $1.0B | $331.7M | ||
| Q3 24 | $973.1M | $286.4M | ||
| Q2 24 | $881.5M | $291.6M |
总资产NETSTGW
| Q1 26 | — | $4.2B | ||
| Q4 25 | $6.0B | $4.2B | ||
| Q3 25 | $5.8B | $4.3B | ||
| Q2 25 | $5.6B | $4.3B | ||
| Q1 25 | $3.7B | $4.0B | ||
| Q4 24 | $3.3B | $3.9B | ||
| Q3 24 | $3.1B | $3.8B | ||
| Q2 24 | $2.9B | $3.8B |
负债/权益比NETSTGW
| Q1 26 | — | 1.99× | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | — | 2.04× | ||
| Q2 25 | — | 1.95× | ||
| Q1 25 | — | 4.38× | ||
| Q4 24 | — | 4.08× | ||
| Q3 24 | — | 5.11× | ||
| Q2 24 | — | 4.88× |
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 | $-26.5M |
| 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% | 1.5% |
| 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NETSTGW
| Q1 26 | — | $-26.5M | ||
| Q4 25 | $190.4M | $260.3M | ||
| Q3 25 | $167.1M | $-24.0M | ||
| Q2 25 | $99.8M | $114.8M | ||
| Q1 25 | $145.8M | $-60.0M | ||
| Q4 24 | $127.3M | $212.1M | ||
| Q3 24 | $104.7M | $-1.6M | ||
| Q2 24 | $74.8M | $-14.5M |
自由现金流NETSTGW
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $242.9M | ||
| Q3 25 | $82.5M | $-38.8M | ||
| Q2 25 | $39.9M | $107.1M | ||
| Q1 25 | $59.9M | $-63.9M | ||
| Q4 24 | $54.2M | $209.9M | ||
| Q3 24 | $54.5M | $-4.3M | ||
| Q2 24 | $45.2M | $-23.0M |
自由现金流率NETSTGW
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 30.1% | ||
| Q3 25 | 14.7% | -5.2% | ||
| Q2 25 | 7.8% | 15.1% | ||
| Q1 25 | 12.5% | -9.8% | ||
| Q4 24 | 11.8% | 26.6% | ||
| Q3 24 | 12.7% | -0.6% | ||
| Q2 24 | 11.3% | -3.4% |
资本支出强度NETSTGW
| Q1 26 | — | 1.5% | ||
| Q4 25 | 13.9% | 2.2% | ||
| Q3 25 | 15.1% | 2.0% | ||
| Q2 25 | 11.7% | 1.1% | ||
| Q1 25 | 17.9% | 0.6% | ||
| Q4 24 | 15.9% | 0.3% | ||
| Q3 24 | 11.7% | 0.4% | ||
| Q2 24 | 7.4% | 1.3% |
现金转化率NETSTGW
| Q1 26 | — | — | ||
| Q4 25 | — | 20.56× | ||
| Q3 25 | — | -0.98× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 65.56× | ||
| Q3 24 | — | -0.49× | ||
| Q2 24 | — | — |
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% |
STGW
| Net | $585.0M | 83% |
| Digital Transformation Net | $97.0M | 14% |
| Other | $22.1M | 3% |
