vs
Cloudflare, Inc.（NET）与STERLING INFRASTRUCTURE, INC.（STRL）财务数据对比。点击上方公司名可切换其他公司
STERLING INFRASTRUCTURE, INC.的季度营收约是Cloudflare, Inc.的1.2倍（$755.6M vs $614.5M），STERLING INFRASTRUCTURE, INC.净利率更高（11.6% vs -2.0%，领先13.6%），STERLING INFRASTRUCTURE, INC.同比增速更快（51.5% vs 33.6%），STERLING INFRASTRUCTURE, INC.自由现金流更多（$159.7M vs $105.2M），过去两年STERLING INFRASTRUCTURE, INC.的营收复合增速更高（31.0% vs 27.4%）
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。
本公司是总部位于印度马哈拉施特拉邦孟买的跨国工程总承包（EPC）企业，业务覆盖可再生能源、数据中心、柴油发电、机电水暖（MEP）服务等多个领域，已在全球三十余个国家交付项目，执行团队遍布亚洲、中东、非洲、欧洲及澳大利亚。
NET vs STRL — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $755.6M |
| 净利润 | $-12.1M | $87.6M |
| 毛利率 | 73.6% | 21.7% |
| 营业利润率 | -8.0% | 15.9% |
| 净利率 | -2.0% | 11.6% |
| 营收同比 | 33.6% | 51.5% |
| 净利润同比 | 6.0% | -22.6% |
| 每股收益（稀释后） | $-0.03 | $2.82 |
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
| Q4 25 | $614.5M | $755.6M | ||
| Q3 25 | $562.0M | $689.0M | ||
| Q2 25 | $512.3M | $614.5M | ||
| Q1 25 | $479.1M | $430.9M | ||
| Q4 24 | $459.9M | $498.8M | ||
| Q3 24 | $430.1M | $593.7M | ||
| Q2 24 | $401.0M | $582.8M | ||
| Q1 24 | $378.6M | $440.4M |
| Q4 25 | $-12.1M | $87.6M | ||
| Q3 25 | $-1.3M | $92.1M | ||
| Q2 25 | $-50.4M | $71.0M | ||
| Q1 25 | $-38.5M | $39.5M | ||
| Q4 24 | $-12.8M | $113.2M | ||
| Q3 24 | $-15.3M | $61.3M | ||
| Q2 24 | $-15.1M | $51.9M | ||
| Q1 24 | $-35.5M | $31.0M |
| Q4 25 | 73.6% | 21.7% | ||
| Q3 25 | 74.0% | 24.7% | ||
| Q2 25 | 74.9% | 23.3% | ||
| Q1 25 | 75.9% | 22.0% | ||
| Q4 24 | 76.4% | 21.4% | ||
| Q3 24 | 77.7% | 21.9% | ||
| Q2 24 | 77.8% | 19.3% | ||
| Q1 24 | 77.5% | 17.5% |
| Q4 25 | -8.0% | 15.9% | ||
| Q3 25 | -6.7% | 18.2% | ||
| Q2 25 | -13.1% | 17.0% | ||
| Q1 25 | -11.1% | 13.0% | ||
| Q4 24 | -7.5% | 12.5% | ||
| Q3 24 | -7.2% | 14.7% | ||
| Q2 24 | -8.7% | 12.5% | ||
| Q1 24 | -14.4% | 9.6% |
| Q4 25 | -2.0% | 11.6% | ||
| Q3 25 | -0.2% | 13.4% | ||
| Q2 25 | -9.8% | 11.6% | ||
| Q1 25 | -8.0% | 9.2% | ||
| Q4 24 | -2.8% | 22.7% | ||
| Q3 24 | -3.6% | 10.3% | ||
| Q2 24 | -3.8% | 8.9% | ||
| Q1 24 | -9.4% | 7.1% |
| Q4 25 | $-0.03 | $2.82 | ||
| Q3 25 | $0.00 | $2.97 | ||
| Q2 25 | $-0.15 | $2.31 | ||
| Q1 25 | $-0.11 | $1.28 | ||
| Q4 24 | $-0.05 | $3.63 | ||
| Q3 24 | $-0.04 | $1.97 | ||
| Q2 24 | $-0.04 | $1.67 | ||
| Q1 24 | $-0.10 | $1.00 |
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 | $390.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.1B |
| 总资产 | $6.0B | $2.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $943.5M | $390.7M | ||
| Q3 25 | $1.1B | $306.4M | ||
| Q2 25 | $1.5B | $699.4M | ||
| Q1 25 | $204.5M | $638.6M | ||
| Q4 24 | $147.7M | $664.2M | ||
| Q3 24 | $182.9M | $648.1M | ||
| Q2 24 | $157.0M | $540.0M | ||
| Q1 24 | $254.4M | $480.4M |
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.2B | $881.7M | ||
| Q1 25 | $1.4B | $805.4M | ||
| Q4 24 | $1.0B | $808.1M | ||
| Q3 24 | $973.1M | $716.5M | ||
| Q2 24 | $881.5M | $670.7M | ||
| Q1 24 | $797.2M | $644.6M |
| Q4 25 | $6.0B | $2.6B | ||
| Q3 25 | $5.8B | $2.6B | ||
| Q2 25 | $5.6B | $2.2B | ||
| Q1 25 | $3.7B | $2.0B | ||
| Q4 24 | $3.3B | $2.0B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $2.9B | $2.0B | ||
| Q1 24 | $2.8B | $1.8B |
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 | $186.1M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $159.7M |
| 自由现金流率自由现金流/营收 | 17.1% | 21.1% |
| 资本支出强度资本支出/营收 | 13.9% | 3.5% |
| 现金转化率经营现金流/净利润 | — | 2.12× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $362.7M |
8季度趋势，按日历期对齐
| Q4 25 | $190.4M | $186.1M | ||
| Q3 25 | $167.1M | $83.6M | ||
| Q2 25 | $99.8M | $85.4M | ||
| Q1 25 | $145.8M | $84.9M | ||
| Q4 24 | $127.3M | $174.3M | ||
| Q3 24 | $104.7M | $152.3M | ||
| Q2 24 | $74.8M | $121.0M | ||
| Q1 24 | $73.6M | $49.6M |
| Q4 25 | $105.2M | $159.7M | ||
| Q3 25 | $82.5M | $64.0M | ||
| Q2 25 | $39.9M | $72.1M | ||
| Q1 25 | $59.9M | $67.0M | ||
| Q4 24 | $54.2M | $158.6M | ||
| Q3 24 | $54.5M | $138.3M | ||
| Q2 24 | $45.2M | $92.1M | ||
| Q1 24 | $41.5M | $27.2M |
| Q4 25 | 17.1% | 21.1% | ||
| Q3 25 | 14.7% | 9.3% | ||
| Q2 25 | 7.8% | 11.7% | ||
| Q1 25 | 12.5% | 15.5% | ||
| Q4 24 | 11.8% | 31.8% | ||
| Q3 24 | 12.7% | 23.3% | ||
| Q2 24 | 11.3% | 15.8% | ||
| Q1 24 | 11.0% | 6.2% |
| Q4 25 | 13.9% | 3.5% | ||
| Q3 25 | 15.1% | 2.9% | ||
| Q2 25 | 11.7% | 2.2% | ||
| Q1 25 | 17.9% | 4.2% | ||
| Q4 24 | 15.9% | 3.1% | ||
| Q3 24 | 11.7% | 2.4% | ||
| Q2 24 | 7.4% | 5.0% | ||
| Q1 24 | 8.5% | 5.1% |
| Q4 25 | — | 2.12× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | — | 1.54× | ||
| Q3 24 | — | 2.48× | ||
| Q2 24 | — | 2.33× | ||
| Q1 24 | — | 1.60× |
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% |
STRL
| Lump Sum | $464.9M | 62% |
| Heavy Highway | $99.6M | 13% |
| Residential Construction | $70.4M | 9% |
| Road And Highway Builders LLC | $52.4M | 7% |
| Other Revenue | $36.6M | 5% |
| Aviation | $16.6M | 2% |
| Commercial | $11.4M | 2% |
| Related Party | $600.0K | 0% |
