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Cloudflare, Inc.（NET）与今日美国公司（TDAY）财务数据对比。点击上方公司名可切换其他公司
Cloudflare, Inc.的季度营收约是今日美国公司的1.1倍（$614.5M vs $548.5M），今日美国公司净利率更高（3.6% vs -2.0%，领先5.6%），Cloudflare, Inc.同比增速更快（33.6% vs -4.0%），Cloudflare, Inc.自由现金流更多（$105.2M vs $6.4M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -7.4%）
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。
今日美国公司（原甘尼特）是总部位于纽约的美国传媒控股集团，按每日总发行量计算，它是美国规模最大的报业出版商，旗下拥有众多知名纸媒与数字媒体资产。
NET vs TDAY — 直观对比
营收规模更大
NET
是对方的1.1倍
$548.5M
营收增速更快
NET
高出37.6%
-4.0%
净利率更高
TDAY
高出5.6%
-2.0%
自由现金流更多
NET
多$98.8M
$6.4M
两年增速更快
NET
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $548.5M |
| 净利润 | $-12.1M | $19.9M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | — |
| 净利率 | -2.0% | 3.6% |
| 营收同比 | 33.6% | -4.0% |
| 净利润同比 | 6.0% | — |
| 每股收益（稀释后） | $-0.03 | $0.12 |
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NETTDAY
| Q1 26 | — | $548.5M | ||
| Q4 25 | $614.5M | $585.0M | ||
| Q3 25 | $562.0M | $560.8M | ||
| Q2 25 | $512.3M | $584.9M | ||
| Q1 25 | $479.1M | $571.6M | ||
| Q4 24 | $459.9M | $621.3M | ||
| Q3 24 | $430.1M | $612.4M | ||
| Q2 24 | $401.0M | $639.8M |
净利润NETTDAY
| Q1 26 | — | $19.9M | ||
| Q4 25 | $-12.1M | $-30.1M | ||
| Q3 25 | $-1.3M | $-39.2M | ||
| Q2 25 | $-50.4M | $78.4M | ||
| Q1 25 | $-38.5M | $-7.3M | ||
| Q4 24 | $-12.8M | $64.3M | ||
| Q3 24 | $-15.3M | $-19.7M | ||
| Q2 24 | $-15.1M | $13.7M |
毛利率NETTDAY
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 41.5% | ||
| Q3 25 | 74.0% | 37.2% | ||
| Q2 25 | 74.9% | 38.5% | ||
| Q1 25 | 75.9% | 37.6% | ||
| Q4 24 | 76.4% | 39.5% | ||
| Q3 24 | 77.7% | 38.6% | ||
| Q2 24 | 77.8% | 38.8% |
营业利润率NETTDAY
| Q1 26 | — | — | ||
| Q4 25 | -8.0% | 7.4% | ||
| Q3 25 | -6.7% | -3.9% | ||
| Q2 25 | -13.1% | -1.6% | ||
| Q1 25 | -11.1% | 1.7% | ||
| Q4 24 | -7.5% | 1.0% | ||
| Q3 24 | -7.2% | -1.0% | ||
| Q2 24 | -8.7% | 1.1% |
净利率NETTDAY
| Q1 26 | — | 3.6% | ||
| Q4 25 | -2.0% | -5.1% | ||
| Q3 25 | -0.2% | -7.0% | ||
| Q2 25 | -9.8% | 13.4% | ||
| Q1 25 | -8.0% | -1.3% | ||
| Q4 24 | -2.8% | 10.4% | ||
| Q3 24 | -3.6% | -3.2% | ||
| Q2 24 | -3.8% | 2.1% |
每股收益（稀释后）NETTDAY
| Q1 26 | — | $0.12 | ||
| Q4 25 | $-0.03 | $-0.09 | ||
| Q3 25 | $0.00 | $-0.27 | ||
| Q2 25 | $-0.15 | $0.42 | ||
| Q1 25 | $-0.11 | $-0.05 | ||
| Q4 24 | $-0.05 | $0.47 | ||
| Q3 24 | $-0.04 | $-0.14 | ||
| Q2 24 | $-0.04 | $0.09 |
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 | $85.2M |
| 总债务越低越好 | — | $726.8M |
| 股东权益账面价值 | $1.5B | $141.4M |
| 总资产 | $6.0B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 5.14× |
8季度趋势，按日历期对齐
现金及短期投资NETTDAY
| Q1 26 | — | $85.2M | ||
| Q4 25 | $943.5M | $90.2M | ||
| Q3 25 | $1.1B | $75.2M | ||
| Q2 25 | $1.5B | $88.5M | ||
| Q1 25 | $204.5M | $85.9M | ||
| Q4 24 | $147.7M | $106.3M | ||
| Q3 24 | $182.9M | $101.8M | ||
| Q2 24 | $157.0M | $98.9M |
总债务NETTDAY
| Q1 26 | — | $726.8M | ||
| Q4 25 | — | $954.2M | ||
| Q3 25 | — | $971.8M | ||
| Q2 25 | — | $988.9M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $992.1M | ||
| Q2 24 | — | $1.0B |
股东权益NETTDAY
| Q1 26 | — | $141.4M | ||
| Q4 25 | $1.5B | $155.1M | ||
| Q3 25 | $1.3B | $194.0M | ||
| Q2 25 | $1.2B | $237.1M | ||
| Q1 25 | $1.4B | $150.1M | ||
| Q4 24 | $1.0B | $153.1M | ||
| Q3 24 | $973.1M | $240.5M | ||
| Q2 24 | $881.5M | $249.8M |
总资产NETTDAY
| Q1 26 | — | $1.8B | ||
| Q4 25 | $6.0B | $1.8B | ||
| Q3 25 | $5.8B | $1.9B | ||
| Q2 25 | $5.6B | $2.0B | ||
| Q1 25 | $3.7B | $2.0B | ||
| Q4 24 | $3.3B | $2.0B | ||
| Q3 24 | $3.1B | $2.1B | ||
| Q2 24 | $2.9B | $2.1B |
负债/权益比NETTDAY
| Q1 26 | — | 5.14× | ||
| Q4 25 | — | 6.15× | ||
| Q3 25 | — | 5.01× | ||
| Q2 25 | — | 4.17× | ||
| Q1 25 | — | 6.71× | ||
| Q4 24 | — | 7.05× | ||
| Q3 24 | — | 4.13× | ||
| Q2 24 | — | 4.06× |
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 | $6.4M |
| 自由现金流率自由现金流/营收 | 17.1% | 1.2% |
| 资本支出强度资本支出/营收 | 13.9% | 2.4% |
| 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NETTDAY
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $43.4M | ||
| Q3 25 | $167.1M | — | ||
| Q2 25 | $99.8M | — | ||
| Q1 25 | $145.8M | $23.3M | ||
| Q4 24 | $127.3M | $9.0M | ||
| Q3 24 | $104.7M | — | ||
| Q2 24 | $74.8M | — |
自由现金流NETTDAY
| Q1 26 | — | $6.4M | ||
| Q4 25 | $105.2M | $30.8M | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | — | ||
| Q1 25 | $59.9M | $9.8M | ||
| Q4 24 | $54.2M | $-3.8M | ||
| Q3 24 | $54.5M | — | ||
| Q2 24 | $45.2M | — |
自由现金流率NETTDAY
| Q1 26 | — | 1.2% | ||
| Q4 25 | 17.1% | 5.3% | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 12.5% | 1.7% | ||
| Q4 24 | 11.8% | -0.6% | ||
| Q3 24 | 12.7% | — | ||
| Q2 24 | 11.3% | — |
资本支出强度NETTDAY
| Q1 26 | — | 2.4% | ||
| Q4 25 | 13.9% | 2.2% | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | 17.9% | 2.4% | ||
| Q4 24 | 15.9% | 2.1% | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 7.4% | — |
现金转化率NETTDAY
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | — | ||
| 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% |
TDAY
| Print and commercial | $286.6M | 52% |
| Digital | $261.9M | 48% |
