vs
Cloudflare, Inc.（NET）与WINNEBAGO INDUSTRIES INC（WGO）财务数据对比。点击上方公司名可切换其他公司
WINNEBAGO INDUSTRIES INC的季度营收约是Cloudflare, Inc.的1.1倍（$702.7M vs $614.5M），WINNEBAGO INDUSTRIES INC净利率更高（0.8% vs -2.0%，领先2.7%），Cloudflare, Inc.同比增速更快（33.6% vs 12.3%），Cloudflare, Inc.自由现金流更多（$105.2M vs $19.8M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -4.5%）
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。
温尼贝戈工业是美国知名的房车制造商，主营 recreational vehicle（ recreational vehicle 即休闲旅居车）生产制造，2018年收购克里斯-克拉夫特公司后进军摩托艇制造领域，企业也曾产出中轻型多用途车等相关产品，公司名称源自其原总部所在地爱荷华州的温纳贝戈县。
NET vs WGO — 直观对比
营收规模更大
WGO
是对方的1.1倍
$614.5M
营收增速更快
NET
高出21.3%
12.3%
净利率更高
WGO
高出2.7%
-2.0%
自由现金流更多
NET
多$85.4M
$19.8M
两年增速更快
NET
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $702.7M |
| 净利润 | $-12.1M | $5.5M |
| 毛利率 | 73.6% | 12.7% |
| 营业利润率 | -8.0% | 2.0% |
| 净利率 | -2.0% | 0.8% |
| 营收同比 | 33.6% | 12.3% |
| 净利润同比 | 6.0% | 205.8% |
| 每股收益（稀释后） | $-0.03 | $0.19 |
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NETWGO
| Q4 25 | $614.5M | $702.7M | ||
| Q3 25 | $562.0M | — | ||
| Q2 25 | $512.3M | $775.1M | ||
| Q1 25 | $479.1M | — | ||
| Q4 24 | $459.9M | $625.6M | ||
| Q3 24 | $430.1M | $720.9M | ||
| Q2 24 | $401.0M | $786.0M | ||
| Q1 24 | $378.6M | $703.6M |
净利润NETWGO
| Q4 25 | $-12.1M | $5.5M | ||
| Q3 25 | $-1.3M | — | ||
| Q2 25 | $-50.4M | $17.6M | ||
| Q1 25 | $-38.5M | — | ||
| Q4 24 | $-12.8M | $-5.2M | ||
| Q3 24 | $-15.3M | $-29.1M | ||
| Q2 24 | $-15.1M | $29.0M | ||
| Q1 24 | $-35.5M | $-12.7M |
毛利率NETWGO
| Q4 25 | 73.6% | 12.7% | ||
| Q3 25 | 74.0% | — | ||
| Q2 25 | 74.9% | 13.7% | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | 12.3% | ||
| Q3 24 | 77.7% | 13.1% | ||
| Q2 24 | 77.8% | 15.0% | ||
| Q1 24 | 77.5% | 15.0% |
营业利润率NETWGO
| Q4 25 | -8.0% | 2.0% | ||
| Q3 25 | -6.7% | — | ||
| Q2 25 | -13.1% | 3.9% | ||
| Q1 25 | -11.1% | — | ||
| Q4 24 | -7.5% | -0.1% | ||
| Q3 24 | -7.2% | -2.5% | ||
| Q2 24 | -8.7% | 5.5% | ||
| Q1 24 | -14.4% | 5.0% |
净利率NETWGO
| Q4 25 | -2.0% | 0.8% | ||
| Q3 25 | -0.2% | — | ||
| Q2 25 | -9.8% | 2.3% | ||
| Q1 25 | -8.0% | — | ||
| Q4 24 | -2.8% | -0.8% | ||
| Q3 24 | -3.6% | -4.0% | ||
| Q2 24 | -3.8% | 3.7% | ||
| Q1 24 | -9.4% | -1.8% |
每股收益（稀释后）NETWGO
| Q4 25 | $-0.03 | $0.19 | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $-0.15 | $0.62 | ||
| Q1 25 | $-0.11 | — | ||
| Q4 24 | $-0.05 | $-0.18 | ||
| Q3 24 | $-0.04 | $-0.87 | ||
| Q2 24 | $-0.04 | $0.96 | ||
| Q1 24 | $-0.10 | $-0.43 |
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 | $181.7M |
| 总债务越低越好 | — | $541.0M |
| 股东权益账面价值 | $1.5B | $1.2B |
| 总资产 | $6.0B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资NETWGO
| Q4 25 | $943.5M | $181.7M | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | $10.5M | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | $262.5M | ||
| Q3 24 | $182.9M | $330.9M | ||
| Q2 24 | $157.0M | $318.1M | ||
| Q1 24 | $254.4M | $265.7M |
总债务NETWGO
| Q4 25 | — | $541.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $539.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $637.7M | ||
| Q3 24 | — | $637.1M | ||
| Q2 24 | — | $636.4M | ||
| Q1 24 | — | $694.8M |
股东权益NETWGO
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $973.1M | $1.3B | ||
| Q2 24 | $881.5M | $1.3B | ||
| Q1 24 | $797.2M | $1.3B |
总资产NETWGO
| Q4 25 | $6.0B | $2.1B | ||
| Q3 25 | $5.8B | — | ||
| Q2 25 | $5.6B | $2.1B | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $3.3B | $2.3B | ||
| Q3 24 | $3.1B | $2.4B | ||
| Q2 24 | $2.9B | $2.4B | ||
| Q1 24 | $2.8B | $2.4B |
负债/权益比NETWGO
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.50× | ||
| Q2 24 | — | 0.48× | ||
| Q1 24 | — | 0.52× |
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 | $25.4M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $19.8M |
| 自由现金流率自由现金流/营收 | 17.1% | 2.8% |
| 资本支出强度资本支出/营收 | 13.9% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 4.62× |
| 过去12个月自由现金流最近4个季度 | $287.5M | $-32.4M |
8季度趋势，按日历期对齐
经营现金流NETWGO
| Q4 25 | $190.4M | $25.4M | ||
| Q3 25 | $167.1M | — | ||
| Q2 25 | $99.8M | $-35.8M | ||
| Q1 25 | $145.8M | — | ||
| Q4 24 | $127.3M | $-16.7M | ||
| Q3 24 | $104.7M | $40.7M | ||
| Q2 24 | $74.8M | $99.4M | ||
| Q1 24 | $73.6M | $25.2M |
自由现金流NETWGO
| Q4 25 | $105.2M | $19.8M | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | $-55.0M | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | $-26.7M | ||
| Q3 24 | $54.5M | $29.5M | ||
| Q2 24 | $45.2M | $88.4M | ||
| Q1 24 | $41.5M | $14.2M |
自由现金流率NETWGO
| Q4 25 | 17.1% | 2.8% | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | -7.1% | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | -4.3% | ||
| Q3 24 | 12.7% | 4.1% | ||
| Q2 24 | 11.3% | 11.2% | ||
| Q1 24 | 11.0% | 2.0% |
资本支出强度NETWGO
| Q4 25 | 13.9% | 0.8% | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | 2.5% | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | 1.6% | ||
| Q3 24 | 11.7% | 1.6% | ||
| Q2 24 | 7.4% | 1.4% | ||
| Q1 24 | 8.5% | 1.6% |
现金转化率NETWGO
| Q4 25 | — | 4.62× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -2.03× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.43× | ||
| Q1 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% |
WGO
| Travel Trailer | $139.2M | 20% |
| Class C And Other | $131.0M | 19% |
| Fifth Wheel | $116.0M | 17% |
| Class A | $97.4M | 14% |
| Marine Segment | $79.2M | 11% |
| Class B | $76.3M | 11% |
| Other | $56.4M | 8% |
