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Cloudflare, Inc.（NET）与森馨科技（SXT）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是森馨科技的1.4倍（$614.5M vs $435.8M），森馨科技净利率更高（10.1% vs -2.0%，领先12.1%），Cloudflare, Inc.同比增速更快（33.6% vs 11.1%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 3.9%）
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。
森馨科技是总部位于美国威斯康星州密尔沃基的全球化色素、香精香料生产商及销售商，产品广泛应用于食品饮料、医药、化妆品、家居个护、特种印刷成像、计算机成像及工业着色等多个领域，旗下设有香精香料事业部与色素事业部两大核心业务板块。
NET vs SXT — 直观对比
营收规模更大
NET
是对方的1.4倍
$435.8M
营收增速更快
NET
高出22.5%
11.1%
净利率更高
SXT
高出12.1%
-2.0%
两年增速更快
NET
近两年复合增速
3.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $435.8M |
| 净利润 | $-12.1M | $44.2M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 15.3% |
| 净利率 | -2.0% | 10.1% |
| 营收同比 | 33.6% | 11.1% |
| 净利润同比 | 6.0% | 28.2% |
| 每股收益（稀释后） | $-0.03 | $1.04 |
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NETSXT
| Q1 26 | — | $435.8M | ||
| Q4 25 | $614.5M | $393.4M | ||
| Q3 25 | $562.0M | $412.1M | ||
| Q2 25 | $512.3M | $414.2M | ||
| Q1 25 | $479.1M | $392.3M | ||
| Q4 24 | $459.9M | $376.4M | ||
| Q3 24 | $430.1M | $392.6M | ||
| Q2 24 | $401.0M | $403.5M |
净利润NETSXT
| Q1 26 | — | $44.2M | ||
| Q4 25 | $-12.1M | $25.5M | ||
| Q3 25 | $-1.3M | $37.0M | ||
| Q2 25 | $-50.4M | $37.6M | ||
| Q1 25 | $-38.5M | $34.5M | ||
| Q4 24 | $-12.8M | $30.1M | ||
| Q3 24 | $-15.3M | $32.7M | ||
| Q2 24 | $-15.1M | $30.9M |
毛利率NETSXT
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 31.4% | ||
| Q3 25 | 74.0% | 34.3% | ||
| Q2 25 | 74.9% | 34.5% | ||
| Q1 25 | 75.9% | 33.6% | ||
| Q4 24 | 76.4% | 31.7% | ||
| Q3 24 | 77.7% | 33.2% | ||
| Q2 24 | 77.8% | 32.4% |
营业利润率NETSXT
| Q1 26 | — | 15.3% | ||
| Q4 25 | -8.0% | 9.7% | ||
| Q3 25 | -6.7% | 14.0% | ||
| Q2 25 | -13.1% | 13.9% | ||
| Q1 25 | -11.1% | 13.6% | ||
| Q4 24 | -7.5% | 11.2% | ||
| Q3 24 | -7.2% | 12.9% | ||
| Q2 24 | -8.7% | 12.3% |
净利率NETSXT
| Q1 26 | — | 10.1% | ||
| Q4 25 | -2.0% | 6.5% | ||
| Q3 25 | -0.2% | 9.0% | ||
| Q2 25 | -9.8% | 9.1% | ||
| Q1 25 | -8.0% | 8.8% | ||
| Q4 24 | -2.8% | 8.0% | ||
| Q3 24 | -3.6% | 8.3% | ||
| Q2 24 | -3.8% | 7.7% |
每股收益（稀释后）NETSXT
| Q1 26 | — | $1.04 | ||
| Q4 25 | $-0.03 | $0.60 | ||
| Q3 25 | $0.00 | $0.87 | ||
| Q2 25 | $-0.15 | $0.88 | ||
| Q1 25 | $-0.11 | $0.81 | ||
| Q4 24 | $-0.05 | $0.71 | ||
| Q3 24 | $-0.04 | $0.77 | ||
| Q2 24 | $-0.04 | $0.73 |
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 | $38.5M |
| 总债务越低越好 | — | $767.8M |
| 股东权益账面价值 | $1.5B | $1.2B |
| 总资产 | $6.0B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.63× |
8季度趋势，按日历期对齐
现金及短期投资NETSXT
| Q1 26 | — | $38.5M | ||
| Q4 25 | $943.5M | $36.5M | ||
| Q3 25 | $1.1B | $42.7M | ||
| Q2 25 | $1.5B | $56.7M | ||
| Q1 25 | $204.5M | $32.6M | ||
| Q4 24 | $147.7M | $26.6M | ||
| Q3 24 | $182.9M | $37.0M | ||
| Q2 24 | $157.0M | $30.3M |
总债务NETSXT
| Q1 26 | — | $767.8M | ||
| Q4 25 | — | $709.2M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $613.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NETSXT
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $973.1M | $1.1B | ||
| Q2 24 | $881.5M | $1.1B |
总资产NETSXT
| Q1 26 | — | $2.3B | ||
| Q4 25 | $6.0B | $2.2B | ||
| Q3 25 | $5.8B | $2.2B | ||
| Q2 25 | $5.6B | $2.2B | ||
| Q1 25 | $3.7B | $2.1B | ||
| Q4 24 | $3.3B | $2.0B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $2.9B | $2.0B |
负债/权益比NETSXT
| Q1 26 | — | 0.63× | ||
| Q4 25 | — | 0.59× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| 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NETSXT
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $44.6M | ||
| Q3 25 | $167.1M | $44.0M | ||
| Q2 25 | $99.8M | $48.3M | ||
| Q1 25 | $145.8M | $-9.0M | ||
| Q4 24 | $127.3M | $21.4M | ||
| Q3 24 | $104.7M | $76.8M | ||
| Q2 24 | $74.8M | $43.8M |
自由现金流NETSXT
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $12.9M | ||
| Q3 25 | $82.5M | $24.2M | ||
| Q2 25 | $39.9M | $27.1M | ||
| Q1 25 | $59.9M | $-25.8M | ||
| Q4 24 | $54.2M | $-1.7M | ||
| Q3 24 | $54.5M | $63.6M | ||
| Q2 24 | $45.2M | $32.0M |
自由现金流率NETSXT
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 3.3% | ||
| Q3 25 | 14.7% | 5.9% | ||
| Q2 25 | 7.8% | 6.5% | ||
| Q1 25 | 12.5% | -6.6% | ||
| Q4 24 | 11.8% | -0.5% | ||
| Q3 24 | 12.7% | 16.2% | ||
| Q2 24 | 11.3% | 7.9% |
资本支出强度NETSXT
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 8.0% | ||
| Q3 25 | 15.1% | 4.8% | ||
| Q2 25 | 11.7% | 5.1% | ||
| Q1 25 | 17.9% | 4.3% | ||
| Q4 24 | 15.9% | 6.1% | ||
| Q3 24 | 11.7% | 3.4% | ||
| Q2 24 | 7.4% | 2.9% |
现金转化率NETSXT
| Q1 26 | — | — | ||
| Q4 25 | — | 1.75× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 1.28× | ||
| Q1 25 | — | -0.26× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 1.42× |
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% |
SXT
暂无分部数据
