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Cloudflare, Inc.（NET）与维蒙特工业（VMI）财务数据对比。点击上方公司名可切换其他公司
维蒙特工业的季度营收约是Cloudflare, Inc.的1.7倍（$1.0B vs $614.5M），维蒙特工业净利率更高（10.5% vs -2.0%，领先12.5%），Cloudflare, Inc.同比增速更快（33.6% vs 6.2%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -0.5%）
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。
维蒙特工业是美国大型上市制造企业，核心产品包括Valley品牌中心支轴及线性灌溉设备、风电机组支撑结构、照明与交通信号灯杆、钢制公用设施杆塔，在全球农业设备及基建配套领域拥有领先的市场地位和技术优势。
NET vs VMI — 直观对比
营收规模更大
VMI
是对方的1.7倍
$614.5M
营收增速更快
NET
高出27.4%
6.2%
净利率更高
VMI
高出12.5%
-2.0%
两年增速更快
NET
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $1.0B |
| 净利润 | $-12.1M | $108.0M |
| 毛利率 | 73.6% | 30.8% |
| 营业利润率 | -8.0% | 15.1% |
| 净利率 | -2.0% | 10.5% |
| 营收同比 | 33.6% | 6.2% |
| 净利润同比 | 6.0% | 23.8% |
| 每股收益（稀释后） | $-0.03 | $5.51 |
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NETVMI
| Q1 26 | — | $1.0B | ||
| Q4 25 | $614.5M | $1.0B | ||
| Q3 25 | $562.0M | $1.0B | ||
| Q2 25 | $512.3M | $1.1B | ||
| Q1 25 | $479.1M | $969.3M | ||
| Q4 24 | $459.9M | $1.0B | ||
| Q3 24 | $430.1M | $1.0B | ||
| Q2 24 | $401.0M | $1.0B |
净利润NETVMI
| Q1 26 | — | $108.0M | ||
| Q4 25 | $-12.1M | $168.0M | ||
| Q3 25 | $-1.3M | $99.0M | ||
| Q2 25 | $-50.4M | $-4.0M | ||
| Q1 25 | $-38.5M | $87.3M | ||
| Q4 24 | $-12.8M | $77.7M | ||
| Q3 24 | $-15.3M | $83.1M | ||
| Q2 24 | $-15.1M | $99.7M |
毛利率NETVMI
| Q1 26 | — | 30.8% | ||
| Q4 25 | 73.6% | 29.8% | ||
| Q3 25 | 74.0% | 30.4% | ||
| Q2 25 | 74.9% | 30.6% | ||
| Q1 25 | 75.9% | 30.0% | ||
| Q4 24 | 76.4% | 30.2% | ||
| Q3 24 | 77.7% | 29.6% | ||
| Q2 24 | 77.8% | 30.8% |
营业利润率NETVMI
| Q1 26 | — | 15.1% | ||
| Q4 25 | -8.0% | 11.2% | ||
| Q3 25 | -6.7% | 13.5% | ||
| Q2 25 | -13.1% | 2.8% | ||
| Q1 25 | -11.1% | 13.2% | ||
| Q4 24 | -7.5% | 11.6% | ||
| Q3 24 | -7.2% | 12.3% | ||
| Q2 24 | -8.7% | 14.2% |
净利率NETVMI
| Q1 26 | — | 10.5% | ||
| Q4 25 | -2.0% | 16.2% | ||
| Q3 25 | -0.2% | 9.5% | ||
| Q2 25 | -9.8% | -0.4% | ||
| Q1 25 | -8.0% | 9.0% | ||
| Q4 24 | -2.8% | 7.5% | ||
| Q3 24 | -3.6% | 8.1% | ||
| Q2 24 | -3.8% | 9.6% |
每股收益（稀释后）NETVMI
| Q1 26 | — | $5.51 | ||
| Q4 25 | $-0.03 | $9.02 | ||
| Q3 25 | $0.00 | $4.98 | ||
| Q2 25 | $-0.15 | $-1.53 | ||
| Q1 25 | $-0.11 | $4.32 | ||
| Q4 24 | $-0.05 | $3.85 | ||
| Q3 24 | $-0.04 | $4.11 | ||
| Q2 24 | $-0.04 | $4.91 |
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 | $160.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $6.0B | $3.4B |
| 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NETVMI
| Q1 26 | — | $160.2M | ||
| Q4 25 | $943.5M | $187.1M | ||
| Q3 25 | $1.1B | $226.1M | ||
| Q2 25 | $1.5B | $208.5M | ||
| Q1 25 | $204.5M | $184.4M | ||
| Q4 24 | $147.7M | $164.3M | ||
| Q3 24 | $182.9M | $200.5M | ||
| Q2 24 | $157.0M | $163.1M |
总债务NETVMI
| Q1 26 | — | — | ||
| Q4 25 | — | $795.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $730.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益NETVMI
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $973.1M | $1.5B | ||
| Q2 24 | $881.5M | $1.5B |
总资产NETVMI
| Q1 26 | — | $3.4B | ||
| Q4 25 | $6.0B | $3.4B | ||
| Q3 25 | $5.8B | $3.4B | ||
| Q2 25 | $5.6B | $3.3B | ||
| Q1 25 | $3.7B | $3.4B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.1B | $3.5B | ||
| Q2 24 | $2.9B | $3.5B |
负债/权益比NETVMI
| Q1 26 | — | — | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.47× | ||
| 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NETVMI
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $111.2M | ||
| Q3 25 | $167.1M | $112.5M | ||
| Q2 25 | $99.8M | $167.6M | ||
| Q1 25 | $145.8M | $65.1M | ||
| Q4 24 | $127.3M | $193.4M | ||
| Q3 24 | $104.7M | $225.1M | ||
| Q2 24 | $74.8M | $130.8M |
自由现金流NETVMI
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $70.4M | ||
| Q3 25 | $82.5M | $70.6M | ||
| Q2 25 | $39.9M | $135.6M | ||
| Q1 25 | $59.9M | $34.8M | ||
| Q4 24 | $54.2M | $167.8M | ||
| Q3 24 | $54.5M | $204.6M | ||
| Q2 24 | $45.2M | $112.5M |
自由现金流率NETVMI
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 6.8% | ||
| Q3 25 | 14.7% | 6.7% | ||
| Q2 25 | 7.8% | 12.9% | ||
| Q1 25 | 12.5% | 3.6% | ||
| Q4 24 | 11.8% | 16.2% | ||
| Q3 24 | 12.7% | 20.1% | ||
| Q2 24 | 11.3% | 10.8% |
资本支出强度NETVMI
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 3.9% | ||
| Q3 25 | 15.1% | 4.0% | ||
| Q2 25 | 11.7% | 3.0% | ||
| Q1 25 | 17.9% | 3.1% | ||
| Q4 24 | 15.9% | 2.5% | ||
| Q3 24 | 11.7% | 2.0% | ||
| Q2 24 | 7.4% | 1.8% |
现金转化率NETVMI
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.49× | ||
| Q3 24 | — | 2.71× | ||
| Q2 24 | — | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
