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Cloudflare, Inc.（NET）与Vestis Corp（VSTS）财务数据对比。点击上方公司名可切换其他公司
Vestis Corp的季度营收约是Cloudflare, Inc.的1.1倍（$663.4M vs $614.5M），Vestis Corp净利率更高（-1.0% vs -2.0%，领先1.0%），Cloudflare, Inc.同比增速更快（33.6% vs -3.0%），Cloudflare, Inc.自由现金流更多（$105.2M vs $28.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -3.0%）
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。
Vestis Corp是北美领先的工作制服、安全防护服饰及配套设施服务供应商，服务覆盖医疗、制造、零售、餐饮住宿、公共服务等多个领域，为企业客户提供定制化的制服租赁、清洁与日常维护解决方案。
NET vs VSTS — 直观对比
营收规模更大
VSTS
是对方的1.1倍
$614.5M
营收增速更快
NET
高出36.6%
-3.0%
净利率更高
VSTS
高出1.0%
-2.0%
自由现金流更多
NET
多$76.9M
$28.3M
两年增速更快
NET
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $663.4M |
| 净利润 | $-12.1M | $-6.4M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 2.5% |
| 净利率 | -2.0% | -1.0% |
| 营收同比 | 33.6% | -3.0% |
| 净利润同比 | 6.0% | -868.1% |
| 每股收益（稀释后） | $-0.03 | $-0.05 |
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NETVSTS
| Q1 26 | — | $663.4M | ||
| Q4 25 | $614.5M | $712.0M | ||
| Q3 25 | $562.0M | — | ||
| Q2 25 | $512.3M | $673.8M | ||
| Q1 25 | $479.1M | $665.2M | ||
| Q4 24 | $459.9M | $683.8M | ||
| Q3 24 | $430.1M | $684.3M | ||
| Q2 24 | $401.0M | $698.2M |
净利润NETVSTS
| Q1 26 | — | $-6.4M | ||
| Q4 25 | $-12.1M | $-12.5M | ||
| Q3 25 | $-1.3M | — | ||
| Q2 25 | $-50.4M | $-676.0K | ||
| Q1 25 | $-38.5M | $-27.8M | ||
| Q4 24 | $-12.8M | $832.0K | ||
| Q3 24 | $-15.3M | $-2.3M | ||
| Q2 24 | $-15.1M | $5.0M |
毛利率NETVSTS
| Q1 26 | — | — | ||
| 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% | — |
营业利润率NETVSTS
| Q1 26 | — | 2.5% | ||
| Q4 25 | -8.0% | 2.5% | ||
| Q3 25 | -6.7% | — | ||
| Q2 25 | -13.1% | 3.7% | ||
| Q1 25 | -11.1% | -1.3% | ||
| Q4 24 | -7.5% | 4.4% | ||
| Q3 24 | -7.2% | 4.4% | ||
| Q2 24 | -8.7% | 5.4% |
净利率NETVSTS
| Q1 26 | — | -1.0% | ||
| Q4 25 | -2.0% | -1.8% | ||
| Q3 25 | -0.2% | — | ||
| Q2 25 | -9.8% | -0.1% | ||
| Q1 25 | -8.0% | -4.2% | ||
| Q4 24 | -2.8% | 0.1% | ||
| Q3 24 | -3.6% | -0.3% | ||
| Q2 24 | -3.8% | 0.7% |
每股收益（稀释后）NETVSTS
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $-0.03 | $-0.10 | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.15 | $-0.01 | ||
| Q1 25 | $-0.11 | $-0.21 | ||
| Q4 24 | $-0.05 | $0.01 | ||
| Q3 24 | $-0.04 | $-0.02 | ||
| Q2 24 | $-0.04 | $0.04 |
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 | $41.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $864.4M |
| 总资产 | $6.0B | $2.9B |
| 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NETVSTS
| Q1 26 | — | $41.5M | ||
| Q4 25 | $943.5M | $29.7M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | $23.7M | ||
| Q1 25 | $204.5M | $28.8M | ||
| Q4 24 | $147.7M | $18.6M | ||
| Q3 24 | $182.9M | $31.0M | ||
| Q2 24 | $157.0M | $29.1M |
总债务NETVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — |
股东权益NETVSTS
| Q1 26 | — | $864.4M | ||
| Q4 25 | $1.5B | $865.6M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $882.2M | ||
| Q1 25 | $1.4B | $876.3M | ||
| Q4 24 | $1.0B | $899.6M | ||
| Q3 24 | $973.1M | $903.1M | ||
| Q2 24 | $881.5M | $901.2M |
总资产NETVSTS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $6.0B | $2.9B | ||
| Q3 25 | $5.8B | — | ||
| Q2 25 | $5.6B | $2.9B | ||
| Q1 25 | $3.7B | $2.9B | ||
| Q4 24 | $3.3B | $2.9B | ||
| Q3 24 | $3.1B | $2.9B | ||
| Q2 24 | $2.9B | $3.1B |
负债/权益比NETVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.29× | ||
| 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 | $37.7M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $28.3M |
| 自由现金流率自由现金流/营收 | 17.1% | 4.3% |
| 资本支出强度资本支出/营收 | 13.9% | 1.4% |
| 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 | $45.0M |
8季度趋势，按日历期对齐
经营现金流NETVSTS
| Q1 26 | — | $37.7M | ||
| Q4 25 | $190.4M | $30.9M | ||
| Q3 25 | $167.1M | — | ||
| Q2 25 | $99.8M | $22.9M | ||
| Q1 25 | $145.8M | $6.7M | ||
| Q4 24 | $127.3M | $3.8M | ||
| Q3 24 | $104.7M | $295.6M | ||
| Q2 24 | $74.8M | $48.7M |
自由现金流NETVSTS
| Q1 26 | — | $28.3M | ||
| Q4 25 | $105.2M | $15.6M | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | $8.0M | ||
| Q1 25 | $59.9M | $-6.9M | ||
| Q4 24 | $54.2M | $-11.0M | ||
| Q3 24 | $54.5M | $267.5M | ||
| Q2 24 | $45.2M | $27.7M |
自由现金流率NETVSTS
| Q1 26 | — | 4.3% | ||
| Q4 25 | 17.1% | 2.2% | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | 1.2% | ||
| Q1 25 | 12.5% | -1.0% | ||
| Q4 24 | 11.8% | -1.6% | ||
| Q3 24 | 12.7% | 39.1% | ||
| Q2 24 | 11.3% | 4.0% |
资本支出强度NETVSTS
| Q1 26 | — | 1.4% | ||
| Q4 25 | 13.9% | 2.2% | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | 2.2% | ||
| Q1 25 | 17.9% | 2.0% | ||
| Q4 24 | 15.9% | 2.2% | ||
| Q3 24 | 11.7% | 4.1% | ||
| Q2 24 | 7.4% | 3.0% |
现金转化率NETVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 9.66× |
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% |
VSTS
| Workplace Supplies | $375.2M | 57% |
| Uniforms | $227.7M | 34% |
| Other | $60.5M | 9% |
