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Cloudflare, Inc.（NET）与Voya Financial, Inc.（VOYA）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Voya Financial, Inc.的1.0倍（$614.5M vs $603.0M），Voya Financial, Inc.净利率更高（23.2% vs -2.0%，领先25.2%），Cloudflare, Inc.同比增速更快（33.6% vs 7.5%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 7.8%）
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。
Voya Financial是总部位于美国纽约的金融服务机构，业务覆盖退休规划、投资管理及保险领域。其前身为ING集团美国运营子公司，2013年完成分拆并通过首次公开募股获得独立资金支持，2014年4月正式启用Voya Financial品牌，旗下前身机构最早在1970年代就已进入美国市场。
NET vs VOYA — 直观对比
营收规模更大
NET
是对方的1.0倍
$603.0M
营收增速更快
NET
高出26.1%
7.5%
净利率更高
VOYA
高出25.2%
-2.0%
两年增速更快
NET
近两年复合增速
7.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $603.0M |
| 净利润 | $-12.1M | $140.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 28.0% |
| 净利率 | -2.0% | 23.2% |
| 营收同比 | 33.6% | 7.5% |
| 净利润同比 | 6.0% | 44.3% |
| 每股收益（稀释后） | $-0.03 | $1.41 |
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NETVOYA
| Q4 25 | $614.5M | $603.0M | ||
| Q3 25 | $562.0M | $572.0M | ||
| Q2 25 | $512.3M | $542.0M | ||
| Q1 25 | $479.1M | $538.0M | ||
| Q4 24 | $459.9M | $561.0M | ||
| Q3 24 | $430.1M | $542.0M | ||
| Q2 24 | $401.0M | $528.0M | ||
| Q1 24 | $378.6M | $519.0M |
净利润NETVOYA
| Q4 25 | $-12.1M | $140.0M | ||
| Q3 25 | $-1.3M | $192.0M | ||
| Q2 25 | $-50.4M | $166.0M | ||
| Q1 25 | $-38.5M | $156.0M | ||
| Q4 24 | $-12.8M | $97.0M | ||
| Q3 24 | $-15.3M | $114.0M | ||
| Q2 24 | $-15.1M | $205.0M | ||
| Q1 24 | $-35.5M | $251.0M |
毛利率NETVOYA
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | — | ||
| Q2 25 | 74.9% | — | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.8% | — | ||
| Q1 24 | 77.5% | — |
营业利润率NETVOYA
| Q4 25 | -8.0% | 28.0% | ||
| Q3 25 | -6.7% | 53.7% | ||
| Q2 25 | -13.1% | 34.7% | ||
| Q1 25 | -11.1% | 32.2% | ||
| Q4 24 | -7.5% | 21.4% | ||
| Q3 24 | -7.2% | 21.4% | ||
| Q2 24 | -8.7% | 52.3% | ||
| Q1 24 | -14.4% | 55.3% |
净利率NETVOYA
| Q4 25 | -2.0% | 23.2% | ||
| Q3 25 | -0.2% | 33.6% | ||
| Q2 25 | -9.8% | 30.6% | ||
| Q1 25 | -8.0% | 29.0% | ||
| Q4 24 | -2.8% | 17.3% | ||
| Q3 24 | -3.6% | 21.0% | ||
| Q2 24 | -3.8% | 38.8% | ||
| Q1 24 | -9.4% | 48.4% |
每股收益（稀释后）NETVOYA
| Q4 25 | $-0.03 | $1.41 | ||
| Q3 25 | $0.00 | $1.80 | ||
| Q2 25 | $-0.15 | $1.66 | ||
| Q1 25 | $-0.11 | $1.42 | ||
| Q4 24 | $-0.05 | $0.99 | ||
| Q3 24 | $-0.04 | $0.98 | ||
| Q2 24 | $-0.04 | $1.96 | ||
| Q1 24 | $-0.10 | $2.24 |
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 | — |
| 总债务越低越好 | — | $2.1B |
| 股东权益账面价值 | $1.5B | $5.0B |
| 总资产 | $6.0B | $178.9B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资NETVOYA
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | — | ||
| Q3 24 | $182.9M | — | ||
| Q2 24 | $157.0M | — | ||
| Q1 24 | $254.4M | — |
总债务NETVOYA
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
股东权益NETVOYA
| Q4 25 | $1.5B | $5.0B | ||
| Q3 25 | $1.3B | $5.0B | ||
| Q2 25 | $1.2B | $4.6B | ||
| Q1 25 | $1.4B | $4.4B | ||
| Q4 24 | $1.0B | $4.0B | ||
| Q3 24 | $973.1M | $4.7B | ||
| Q2 24 | $881.5M | $4.0B | ||
| Q1 24 | $797.2M | $4.2B |
总资产NETVOYA
| Q4 25 | $6.0B | $178.9B | ||
| Q3 25 | $5.8B | $177.4B | ||
| Q2 25 | $5.6B | $172.4B | ||
| Q1 25 | $3.7B | $163.9B | ||
| Q4 24 | $3.3B | $163.9B | ||
| Q3 24 | $3.1B | $166.9B | ||
| Q2 24 | $2.9B | $161.3B | ||
| Q1 24 | $2.8B | $161.6B |
负债/权益比NETVOYA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.51× |
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 | $557.0M |
| 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 | — | 3.98× |
| 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NETVOYA
| Q4 25 | $190.4M | $557.0M | ||
| Q3 25 | $167.1M | $168.0M | ||
| Q2 25 | $99.8M | $742.0M | ||
| Q1 25 | $145.8M | $-179.0M | ||
| Q4 24 | $127.3M | $79.0M | ||
| Q3 24 | $104.7M | $719.0M | ||
| Q2 24 | $74.8M | $316.0M | ||
| Q1 24 | $73.6M | $231.0M |
自由现金流NETVOYA
| 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 | — | ||
| Q1 24 | $41.5M | — |
自由现金流率NETVOYA
| 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% | — | ||
| Q1 24 | 11.0% | — |
资本支出强度NETVOYA
| 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% | — | ||
| Q1 24 | 8.5% | — |
现金转化率NETVOYA
| Q4 25 | — | 3.98× | ||
| Q3 25 | — | 0.88× | ||
| Q2 25 | — | 4.47× | ||
| Q1 25 | — | -1.15× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 6.31× | ||
| Q2 24 | — | 1.54× | ||
| Q1 24 | — | 0.92× |
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% |
VOYA
| Other | $295.0M | 49% |
| Investment Management Segment | $274.0M | 45% |
| Distribution Fees Member | $34.0M | 6% |
