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Cloudflare, Inc.（NET）与狮门娱乐（STRZ）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是狮门娱乐的1.9倍（$614.5M vs $320.9M），Cloudflare, Inc.净利率更高（-2.0% vs -16.4%，领先14.4%），Cloudflare, Inc.同比增速更快（33.6% vs -7.5%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-31.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -40.6%）
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。
Starz娱乐集团（原狮门娱乐）是一家加拿大裔美国合资娱乐企业，1997年由弗兰克·朱斯特拉创立，目前总部坐落于加利福尼亚州圣莫尼卡，注册经营原籍为不列颠哥伦比亚省温哥华，在影视内容制作发行领域拥有深厚行业积淀。
NET vs STRZ — 直观对比
营收规模更大
NET
是对方的1.9倍
$320.9M
营收增速更快
NET
高出41.1%
-7.5%
净利率更高
NET
高出14.4%
-16.4%
自由现金流更多
NET
多$136.5M
$-31.3M
两年增速更快
NET
近两年复合增速
-40.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $320.9M |
| 净利润 | $-12.1M | $-52.6M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | -10.8% |
| 净利率 | -2.0% | -16.4% |
| 营收同比 | 33.6% | -7.5% |
| 净利润同比 | 6.0% | -71.9% |
| 每股收益（稀释后） | $-0.03 | $-3.15 |
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NETSTRZ
| Q4 25 | $614.5M | — | ||
| Q3 25 | $562.0M | $320.9M | ||
| Q2 25 | $512.3M | $319.7M | ||
| Q1 25 | $479.1M | — | ||
| Q4 24 | $459.9M | $970.5M | ||
| Q3 24 | $430.1M | $346.9M | ||
| Q2 24 | $401.0M | $347.6M | ||
| Q1 24 | $378.6M | — |
净利润NETSTRZ
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $-52.6M | ||
| Q2 25 | $-50.4M | $-42.5M | ||
| Q1 25 | $-38.5M | — | ||
| Q4 24 | $-12.8M | $-21.9M | ||
| Q3 24 | $-15.3M | $-30.6M | ||
| Q2 24 | $-15.1M | $4.2M | ||
| Q1 24 | $-35.5M | — |
毛利率NETSTRZ
| 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% | — | ||
| Q1 24 | 77.5% | — |
营业利润率NETSTRZ
| Q4 25 | -8.0% | — | ||
| Q3 25 | -6.7% | -10.8% | ||
| Q2 25 | -13.1% | -8.4% | ||
| Q1 25 | -11.1% | — | ||
| Q4 24 | -7.5% | 3.7% | ||
| Q3 24 | -7.2% | -4.9% | ||
| Q2 24 | -8.7% | 2.9% | ||
| Q1 24 | -14.4% | — |
净利率NETSTRZ
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | -16.4% | ||
| Q2 25 | -9.8% | -13.3% | ||
| Q1 25 | -8.0% | — | ||
| Q4 24 | -2.8% | -2.3% | ||
| Q3 24 | -3.6% | -8.8% | ||
| Q2 24 | -3.8% | 1.2% | ||
| Q1 24 | -9.4% | — |
每股收益（稀释后）NETSTRZ
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | $-3.15 | ||
| Q2 25 | $-0.15 | $-2.54 | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.05 | $-0.09 | ||
| Q3 24 | $-0.04 | $-1.83 | ||
| Q2 24 | $-0.04 | $0.26 | ||
| Q1 24 | $-0.10 | — |
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 | $37.0M |
| 总债务越低越好 | — | $608.7M |
| 股东权益账面价值 | $1.5B | $663.2M |
| 总资产 | $6.0B | $2.0B |
| 负债/权益比越低杠杆越低 | — | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资NETSTRZ
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $37.0M | ||
| Q2 25 | $1.5B | $51.6M | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | $200.5M | ||
| Q3 24 | $182.9M | $229.6M | ||
| Q2 24 | $157.0M | $192.5M | ||
| Q1 24 | $254.4M | — |
总债务NETSTRZ
| Q4 25 | — | — | ||
| Q3 25 | — | $608.7M | ||
| Q2 25 | — | $611.7M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | — |
股东权益NETSTRZ
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | $663.2M | ||
| Q2 25 | $1.2B | $712.3M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.0B | $-168.3M | ||
| Q3 24 | $973.1M | $935.9M | ||
| Q2 24 | $881.5M | $973.1M | ||
| Q1 24 | $797.2M | — |
总资产NETSTRZ
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.8B | $2.0B | ||
| Q2 25 | $5.6B | $2.1B | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.3B | $7.2B | ||
| Q3 24 | $3.1B | $7.1B | ||
| Q2 24 | $2.9B | $7.2B | ||
| Q1 24 | $2.8B | — |
负债/权益比NETSTRZ
| Q4 25 | — | — | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.24× | ||
| Q2 24 | — | 1.59× | ||
| Q1 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 | $-26.1M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $-31.3M |
| 自由现金流率自由现金流/营收 | 17.1% | -9.8% |
| 资本支出强度资本支出/营收 | 13.9% | 1.6% |
| 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 | $-317.7M |
8季度趋势，按日历期对齐
经营现金流NETSTRZ
| Q4 25 | $190.4M | — | ||
| Q3 25 | $167.1M | $-26.1M | ||
| Q2 25 | $99.8M | $65.4M | ||
| Q1 25 | $145.8M | — | ||
| Q4 24 | $127.3M | $-335.3M | ||
| Q3 24 | $104.7M | $9.1M | ||
| Q2 24 | $74.8M | $-33.5M | ||
| Q1 24 | $73.6M | — |
自由现金流NETSTRZ
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | $-31.3M | ||
| Q2 25 | $39.9M | $58.5M | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | $-349.3M | ||
| Q3 24 | $54.5M | $4.4M | ||
| Q2 24 | $45.2M | $-38.4M | ||
| Q1 24 | $41.5M | — |
自由现金流率NETSTRZ
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | -9.8% | ||
| Q2 25 | 7.8% | 18.3% | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | -36.0% | ||
| Q3 24 | 12.7% | 1.3% | ||
| Q2 24 | 11.3% | -11.0% | ||
| Q1 24 | 11.0% | — |
资本支出强度NETSTRZ
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | 1.6% | ||
| Q2 25 | 11.7% | 2.2% | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | 1.4% | ||
| Q3 24 | 11.7% | 1.4% | ||
| Q2 24 | 7.4% | 1.4% | ||
| Q1 24 | 8.5% | — |
现金转化率NETSTRZ
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -7.98× | ||
| Q1 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% |
STRZ
| Over The Top Subscription Service OTT | $222.8M | 69% |
| Linear Subscription Service | $98.1M | 31% |
