vs
Cloudflare, Inc.（NET）与TRINITY INDUSTRIES INC（TRN）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TRINITY INDUSTRIES INC的1.0倍（$614.5M vs $611.2M），TRINITY INDUSTRIES INC净利率更高（31.8% vs -2.0%，领先33.7%），Cloudflare, Inc.同比增速更快（33.6% vs -2.9%），TRINITY INDUSTRIES INC自由现金流更多（$158.6M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -13.1%）
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。
特里尼蒂工业公司是一家美国工业企业，旗下布局多元业务线，为工业、能源、交通、建筑等核心领域提供适配的产品及相关服务，在多个下游行业拥有稳定的客户基础与业务覆盖。
NET vs TRN — 直观对比
营收规模更大
NET
是对方的1.0倍
$611.2M
营收增速更快
NET
高出36.5%
-2.9%
净利率更高
TRN
高出33.7%
-2.0%
自由现金流更多
TRN
多$53.4M
$105.2M
两年增速更快
NET
近两年复合增速
-13.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $611.2M |
| 净利润 | $-12.1M | $194.2M |
| 毛利率 | 73.6% | 25.5% |
| 营业利润率 | -8.0% | 54.9% |
| 净利率 | -2.0% | 31.8% |
| 营收同比 | 33.6% | -2.9% |
| 净利润同比 | 6.0% | 413.8% |
| 每股收益（稀释后） | $-0.03 | $2.25 |
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NETTRN
| Q4 25 | $614.5M | $611.2M | ||
| Q3 25 | $562.0M | $454.1M | ||
| Q2 25 | $512.3M | $506.2M | ||
| Q1 25 | $479.1M | $585.4M | ||
| Q4 24 | $459.9M | $629.4M | ||
| Q3 24 | $430.1M | $798.8M | ||
| Q2 24 | $401.0M | $841.4M | ||
| Q1 24 | $378.6M | $809.6M |
净利润NETTRN
| Q4 25 | $-12.1M | $194.2M | ||
| Q3 25 | $-1.3M | $30.3M | ||
| Q2 25 | $-50.4M | $14.1M | ||
| Q1 25 | $-38.5M | $22.1M | ||
| Q4 24 | $-12.8M | $37.8M | ||
| Q3 24 | $-15.3M | $31.4M | ||
| Q2 24 | $-15.1M | $54.4M | ||
| Q1 24 | $-35.5M | $23.7M |
毛利率NETTRN
| Q4 25 | 73.6% | 25.5% | ||
| Q3 25 | 74.0% | 31.1% | ||
| Q2 25 | 74.9% | 26.4% | ||
| Q1 25 | 75.9% | 24.3% | ||
| Q4 24 | 76.4% | 24.6% | ||
| Q3 24 | 77.7% | 21.2% | ||
| Q2 24 | 77.8% | 21.3% | ||
| Q1 24 | 77.5% | 20.3% |
营业利润率NETTRN
| Q4 25 | -8.0% | 54.9% | ||
| Q3 25 | -6.7% | 26.1% | ||
| Q2 25 | -13.1% | 18.8% | ||
| Q1 25 | -11.1% | 17.0% | ||
| Q4 24 | -7.5% | 17.8% | ||
| Q3 24 | -7.2% | 15.3% | ||
| Q2 24 | -8.7% | 16.9% | ||
| Q1 24 | -14.4% | 14.2% |
净利率NETTRN
| Q4 25 | -2.0% | 31.8% | ||
| Q3 25 | -0.2% | 6.7% | ||
| Q2 25 | -9.8% | 2.8% | ||
| Q1 25 | -8.0% | 3.8% | ||
| Q4 24 | -2.8% | 6.0% | ||
| Q3 24 | -3.6% | 3.9% | ||
| Q2 24 | -3.8% | 6.5% | ||
| Q1 24 | -9.4% | 2.9% |
每股收益（稀释后）NETTRN
| Q4 25 | $-0.03 | $2.25 | ||
| Q3 25 | $0.00 | $0.37 | ||
| Q2 25 | $-0.15 | $0.17 | ||
| Q1 25 | $-0.11 | $0.26 | ||
| Q4 24 | $-0.05 | $0.34 | ||
| Q3 24 | $-0.04 | $0.37 | ||
| Q2 24 | $-0.04 | $0.65 | ||
| Q1 24 | $-0.10 | $0.28 |
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 | $201.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.1B |
| 总资产 | $6.0B | $8.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资NETTRN
| Q4 25 | $943.5M | $201.3M | ||
| Q3 25 | $1.1B | $66.3M | ||
| Q2 25 | $1.5B | $147.7M | ||
| Q1 25 | $204.5M | $94.9M | ||
| Q4 24 | $147.7M | $228.2M | ||
| Q3 24 | $182.9M | $222.4M | ||
| Q2 24 | $157.0M | $257.1M | ||
| Q1 24 | $254.4M | $118.8M |
股东权益NETTRN
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $973.1M | $1.1B | ||
| Q2 24 | $881.5M | $1.1B | ||
| Q1 24 | $797.2M | $1.0B |
总资产NETTRN
| Q4 25 | $6.0B | $8.4B | ||
| Q3 25 | $5.8B | $8.9B | ||
| Q2 25 | $5.6B | $8.8B | ||
| Q1 25 | $3.7B | $8.7B | ||
| Q4 24 | $3.3B | $8.8B | ||
| Q3 24 | $3.1B | $8.8B | ||
| Q2 24 | $2.9B | $9.0B | ||
| Q1 24 | $2.8B | $9.1B |
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 | $177.4M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $158.6M |
| 自由现金流率自由现金流/营收 | 17.1% | 25.9% |
| 资本支出强度资本支出/营收 | 13.9% | 3.1% |
| 现金转化率经营现金流/净利润 | — | 0.91× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $314.1M |
8季度趋势，按日历期对齐
经营现金流NETTRN
| Q4 25 | $190.4M | $177.4M | ||
| Q3 25 | $167.1M | $44.2M | ||
| Q2 25 | $99.8M | $61.6M | ||
| Q1 25 | $145.8M | $76.5M | ||
| Q4 24 | $127.3M | $201.6M | ||
| Q3 24 | $104.7M | $78.5M | ||
| Q2 24 | $74.8M | $241.5M | ||
| Q1 24 | $73.6M | $52.2M |
自由现金流NETTRN
| Q4 25 | $105.2M | $158.6M | ||
| Q3 25 | $82.5M | $35.3M | ||
| Q2 25 | $39.9M | $52.9M | ||
| Q1 25 | $59.9M | $67.3M | ||
| Q4 24 | $54.2M | $180.1M | ||
| Q3 24 | $54.5M | $62.1M | ||
| Q2 24 | $45.2M | $230.2M | ||
| Q1 24 | $41.5M | $47.6M |
自由现金流率NETTRN
| Q4 25 | 17.1% | 25.9% | ||
| Q3 25 | 14.7% | 7.8% | ||
| Q2 25 | 7.8% | 10.5% | ||
| Q1 25 | 12.5% | 11.5% | ||
| Q4 24 | 11.8% | 28.6% | ||
| Q3 24 | 12.7% | 7.8% | ||
| Q2 24 | 11.3% | 27.4% | ||
| Q1 24 | 11.0% | 5.9% |
资本支出强度NETTRN
| Q4 25 | 13.9% | 3.1% | ||
| Q3 25 | 15.1% | 2.0% | ||
| Q2 25 | 11.7% | 1.7% | ||
| Q1 25 | 17.9% | 1.6% | ||
| Q4 24 | 15.9% | 3.4% | ||
| Q3 24 | 11.7% | 2.1% | ||
| Q2 24 | 7.4% | 1.3% | ||
| Q1 24 | 8.5% | 0.6% |
现金转化率NETTRN
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 4.37× | ||
| Q1 25 | — | 3.46× | ||
| Q4 24 | — | 5.33× | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | — | 4.44× | ||
| Q1 24 | — | 2.20× |
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% |
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
