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Cloudflare, Inc.（NET）与Walker & Dunlop, Inc.（WD）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Walker & Dunlop, Inc.的1.8倍（$614.5M vs $340.0M），Cloudflare, Inc.净利率更高（-2.0% vs -12.9%，领先10.9%），Cloudflare, Inc.同比增速更快（33.6% vs -0.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-680.1M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 22.1%）
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。
Walker & Dunlop, Inc.是美国乃至全球规模领先的商业地产金融与咨询服务机构，为客户提供覆盖商业地产领域的多元金融解决方案及专业咨询服务，业务辐射全球多个市场，在行业内拥有深厚的资源积累与广泛的市场认可度。
NET vs WD — 直观对比
营收规模更大
NET
是对方的1.8倍
$340.0M
营收增速更快
NET
高出34.0%
-0.4%
净利率更高
NET
高出10.9%
-12.9%
自由现金流更多
NET
多$785.3M
$-680.1M
两年增速更快
NET
近两年复合增速
22.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $340.0M |
| 净利润 | $-12.1M | $-13.9M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | -17.2% |
| 净利率 | -2.0% | -12.9% |
| 营收同比 | 33.6% | -0.4% |
| 净利润同比 | 6.0% | -131.0% |
| 每股收益（稀释后） | $-0.03 | $-0.41 |
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NETWD
| Q4 25 | $614.5M | $340.0M | ||
| Q3 25 | $562.0M | $337.7M | ||
| Q2 25 | $512.3M | $319.2M | ||
| Q1 25 | $479.1M | $237.4M | ||
| Q4 24 | $459.9M | $341.5M | ||
| Q3 24 | $430.1M | $292.3M | ||
| Q2 24 | $401.0M | $270.7M | ||
| Q1 24 | $378.6M | $228.1M |
净利润NETWD
| Q4 25 | $-12.1M | $-13.9M | ||
| Q3 25 | $-1.3M | $33.5M | ||
| Q2 25 | $-50.4M | $34.0M | ||
| Q1 25 | $-38.5M | $2.8M | ||
| Q4 24 | $-12.8M | $44.8M | ||
| Q3 24 | $-15.3M | $28.8M | ||
| Q2 24 | $-15.1M | $22.7M | ||
| Q1 24 | $-35.5M | $11.9M |
毛利率NETWD
| 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NETWD
| Q4 25 | -8.0% | -17.2% | ||
| Q3 25 | -6.7% | 13.6% | ||
| Q2 25 | -13.1% | 14.5% | ||
| Q1 25 | -11.1% | 2.2% | ||
| Q4 24 | -7.5% | 15.3% | ||
| Q3 24 | -7.2% | 12.8% | ||
| Q2 24 | -8.7% | 10.4% | ||
| Q1 24 | -14.4% | 6.0% |
净利率NETWD
| Q4 25 | -2.0% | -12.9% | ||
| Q3 25 | -0.2% | 9.9% | ||
| Q2 25 | -9.8% | 10.6% | ||
| Q1 25 | -8.0% | 1.2% | ||
| Q4 24 | -2.8% | 13.1% | ||
| Q3 24 | -3.6% | 9.9% | ||
| Q2 24 | -3.8% | 8.4% | ||
| Q1 24 | -9.4% | 5.2% |
每股收益（稀释后）NETWD
| Q4 25 | $-0.03 | $-0.41 | ||
| Q3 25 | $0.00 | $0.98 | ||
| Q2 25 | $-0.15 | $0.99 | ||
| Q1 25 | $-0.11 | $0.08 | ||
| Q4 24 | $-0.05 | $1.32 | ||
| Q3 24 | $-0.04 | $0.85 | ||
| Q2 24 | $-0.04 | $0.67 | ||
| Q1 24 | $-0.10 | $0.35 |
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 | $299.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $6.0B | $5.1B |
| 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NETWD
| Q4 25 | $943.5M | $299.3M | ||
| Q3 25 | $1.1B | $274.8M | ||
| Q2 25 | $1.5B | $233.7M | ||
| Q1 25 | $204.5M | $181.0M | ||
| Q4 24 | $147.7M | $279.3M | ||
| Q3 24 | $182.9M | $179.8M | ||
| Q2 24 | $157.0M | $208.1M | ||
| Q1 24 | $254.4M | $216.5M |
股东权益NETWD
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $973.1M | $1.7B | ||
| Q2 24 | $881.5M | $1.7B | ||
| Q1 24 | $797.2M | $1.7B |
总资产NETWD
| Q4 25 | $6.0B | $5.1B | ||
| Q3 25 | $5.8B | $5.8B | ||
| Q2 25 | $5.6B | $4.7B | ||
| Q1 25 | $3.7B | $4.5B | ||
| Q4 24 | $3.3B | $4.4B | ||
| Q3 24 | $3.1B | $4.6B | ||
| Q2 24 | $2.9B | $4.2B | ||
| Q1 24 | $2.8B | $3.8B |
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 | $-664.3M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $-680.1M |
| 自由现金流率自由现金流/营收 | 17.1% | -200.0% |
| 资本支出强度资本支出/营收 | 13.9% | 4.6% |
| 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 | $-2.2B |
8季度趋势，按日历期对齐
经营现金流NETWD
| Q4 25 | $190.4M | $-664.3M | ||
| Q3 25 | $167.1M | $-948.1M | ||
| Q2 25 | $99.8M | $-238.5M | ||
| Q1 25 | $145.8M | $-281.1M | ||
| Q4 24 | $127.3M | $129.4M | ||
| Q3 24 | $104.7M | $-202.0M | ||
| Q2 24 | $74.8M | $-237.8M | ||
| Q1 24 | $73.6M | $38.4M |
自由现金流NETWD
| Q4 25 | $105.2M | $-680.1M | ||
| Q3 25 | $82.5M | $-950.4M | ||
| Q2 25 | $39.9M | $-241.0M | ||
| Q1 25 | $59.9M | $-284.7M | ||
| Q4 24 | $54.2M | $116.4M | ||
| Q3 24 | $54.5M | $-204.0M | ||
| Q2 24 | $45.2M | $-241.7M | ||
| Q1 24 | $41.5M | $35.2M |
自由现金流率NETWD
| Q4 25 | 17.1% | -200.0% | ||
| Q3 25 | 14.7% | -281.5% | ||
| Q2 25 | 7.8% | -75.5% | ||
| Q1 25 | 12.5% | -120.0% | ||
| Q4 24 | 11.8% | 34.1% | ||
| Q3 24 | 12.7% | -69.8% | ||
| Q2 24 | 11.3% | -89.3% | ||
| Q1 24 | 11.0% | 15.4% |
资本支出强度NETWD
| Q4 25 | 13.9% | 4.6% | ||
| Q3 25 | 15.1% | 0.7% | ||
| Q2 25 | 11.7% | 0.8% | ||
| Q1 25 | 17.9% | 1.5% | ||
| Q4 24 | 15.9% | 3.8% | ||
| Q3 24 | 11.7% | 0.7% | ||
| Q2 24 | 7.4% | 1.4% | ||
| Q1 24 | 8.5% | 1.4% |
现金转化率NETWD
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
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% |
WD
暂无分部数据
