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Cloudflare, Inc.（NET）与TreeHouse Foods, Inc.（THS）财务数据对比。点击上方公司名可切换其他公司
TreeHouse Foods, Inc.的季度营收约是Cloudflare, Inc.的1.4倍（$840.3M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -31.6%，领先29.7%），Cloudflare, Inc.同比增速更快（33.6% vs 0.1%），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。
树屋食品公司是一家跨国食品加工企业，主打贴牌包装食品生产，总部位于美国伊利诺伊州奥克布鲁克，2005年成立后完全通过收购拓展业务。2010年该公司销售额达20亿美元，在20座工厂拥有超4000名员工，曾获评《食品加工》杂志2010年度加工企业，被称为“你没听过的大型企业”。
NET vs THS — 直观对比
营收规模更大
THS
是对方的1.4倍
$614.5M
营收增速更快
NET
高出33.5%
0.1%
净利率更高
NET
高出29.7%
-31.6%
两年增速更快
NET
近两年复合增速
-3.9%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $840.3M |
| 净利润 | $-12.1M | $-265.8M |
| 毛利率 | 73.6% | 18.8% |
| 营业利润率 | -8.0% | -30.2% |
| 净利率 | -2.0% | -31.6% |
| 营收同比 | 33.6% | 0.1% |
| 净利润同比 | 6.0% | -7717.6% |
| 每股收益（稀释后） | $-0.03 | $-5.26 |
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NETTHS
| Q4 25 | $614.5M | — | ||
| Q3 25 | $562.0M | $840.3M | ||
| Q2 25 | $512.3M | $798.0M | ||
| Q1 25 | $479.1M | $792.0M | ||
| Q4 24 | $459.9M | $905.7M | ||
| Q3 24 | $430.1M | $839.1M | ||
| Q2 24 | $401.0M | $788.5M | ||
| Q1 24 | $378.6M | $820.7M |
净利润NETTHS
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $-265.8M | ||
| Q2 25 | $-50.4M | $-2.9M | ||
| Q1 25 | $-38.5M | $-31.8M | ||
| Q4 24 | $-12.8M | $58.7M | ||
| Q3 24 | $-15.3M | $-3.4M | ||
| Q2 24 | $-15.1M | $-16.7M | ||
| Q1 24 | $-35.5M | $-11.7M |
毛利率NETTHS
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | 18.8% | ||
| Q2 25 | 74.9% | 17.4% | ||
| Q1 25 | 75.9% | 14.5% | ||
| Q4 24 | 76.4% | 19.5% | ||
| Q3 24 | 77.7% | 15.6% | ||
| Q2 24 | 77.8% | 16.3% | ||
| Q1 24 | 77.5% | 13.6% |
营业利润率NETTHS
| Q4 25 | -8.0% | — | ||
| Q3 25 | -6.7% | -30.2% | ||
| Q2 25 | -13.1% | 3.4% | ||
| Q1 25 | -11.1% | -0.7% | ||
| Q4 24 | -7.5% | 8.9% | ||
| Q3 24 | -7.2% | 3.8% | ||
| Q2 24 | -8.7% | -0.5% | ||
| Q1 24 | -14.4% | -0.6% |
净利率NETTHS
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | -31.6% | ||
| Q2 25 | -9.8% | -0.4% | ||
| Q1 25 | -8.0% | -4.0% | ||
| Q4 24 | -2.8% | 6.5% | ||
| Q3 24 | -3.6% | -0.4% | ||
| Q2 24 | -3.8% | -2.1% | ||
| Q1 24 | -9.4% | -1.4% |
每股收益（稀释后）NETTHS
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | $-5.26 | ||
| Q2 25 | $-0.15 | $-0.06 | ||
| Q1 25 | $-0.11 | $-0.63 | ||
| Q4 24 | $-0.05 | $1.12 | ||
| Q3 24 | $-0.04 | $-0.07 | ||
| Q2 24 | $-0.04 | $-0.32 | ||
| Q1 24 | $-0.10 | $-0.22 |
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 | $21.0M |
| 总债务越低越好 | — | $1.5B |
| 股东权益账面价值 | $1.5B | $1.3B |
| 总资产 | $6.0B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 1.18× |
8季度趋势，按日历期对齐
现金及短期投资NETTHS
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | $21.0M | ||
| Q2 25 | $1.5B | $17.1M | ||
| Q1 25 | $204.5M | $16.4M | ||
| Q4 24 | $147.7M | $289.6M | ||
| Q3 24 | $182.9M | $102.0M | ||
| Q2 24 | $157.0M | $105.8M | ||
| Q1 24 | $254.4M | $191.8M |
总债务NETTHS
| Q4 25 | — | — | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
股东权益NETTHS
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $973.1M | $1.6B | ||
| Q2 24 | $881.5M | $1.6B | ||
| Q1 24 | $797.2M | $1.6B |
总资产NETTHS
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.8B | $3.8B | ||
| Q2 25 | $5.6B | $4.0B | ||
| Q1 25 | $3.7B | $3.9B | ||
| Q4 24 | $3.3B | $4.0B | ||
| Q3 24 | $3.1B | $4.0B | ||
| Q2 24 | $2.9B | $3.9B | ||
| Q1 24 | $2.8B | $4.0B |
负债/权益比NETTHS
| Q4 25 | — | — | ||
| Q3 25 | — | 1.18× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 0.90× | ||
| Q1 24 | — | 0.87× |
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 | $38.2M |
| 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NETTHS
| Q4 25 | $190.4M | — | ||
| Q3 25 | $167.1M | $38.2M | ||
| Q2 25 | $99.8M | $-47.2M | ||
| Q1 25 | $145.8M | $-53.5M | ||
| Q4 24 | $127.3M | $296.2M | ||
| Q3 24 | $104.7M | $41.4M | ||
| Q2 24 | $74.8M | $-19.4M | ||
| Q1 24 | $73.6M | $-52.4M |
自由现金流NETTHS
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | — | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $54.5M | — | ||
| Q2 24 | $45.2M | $-42.2M | ||
| Q1 24 | $41.5M | $-80.7M |
自由现金流率NETTHS
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 12.7% | — | ||
| Q2 24 | 11.3% | -5.4% | ||
| Q1 24 | 11.0% | -9.8% |
资本支出强度NETTHS
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 7.4% | 2.9% | ||
| Q1 24 | 8.5% | 3.4% |
现金转化率NETTHS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.05× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
THS
| Retail Grocery Customers | $670.6M | 80% |
| Food Away From Home And Other | $85.3M | 10% |
| Co Manufacturing | $84.4M | 10% |
