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Cloudflare, Inc.（NET）与WABASH NATIONAL Corp（WNC）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WABASH NATIONAL Corp的2.0倍（$614.5M vs $303.2M），Cloudflare, Inc.同比增速更快（33.6% vs -20.4%），Cloudflare, Inc.自由现金流更多（$105.2M vs $-37.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs -25.8%）
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。
沃巴什国家公司是美国多元化工业制造企业，也是北美最大的半挂车与卡车车身生产商之一。公司主营干货厢式半挂车、冷藏厢式半挂车、平板半挂车、液罐半挂车、卡车车身及复合材料产品的设计与生产，自2022年起产品主要以沃巴什品牌进行销售。
NET vs WNC — 直观对比
营收规模更大
NET
是对方的2.0倍
$303.2M
营收增速更快
NET
高出54.0%
-20.4%
自由现金流更多
NET
多$142.5M
$-37.3M
两年增速更快
NET
近两年复合增速
-25.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $303.2M |
| 净利润 | $-12.1M | — |
| 毛利率 | 73.6% | 2.8% |
| 营业利润率 | -8.0% | 1.3% |
| 净利率 | -2.0% | — |
| 营收同比 | 33.6% | -20.4% |
| 净利润同比 | 6.0% | — |
| 每股收益（稀释后） | $-0.03 | $-1.11 |
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NETWNC
| Q1 26 | — | $303.2M | ||
| Q4 25 | $614.5M | $321.5M | ||
| Q3 25 | $562.0M | $381.6M | ||
| Q2 25 | $512.3M | $458.8M | ||
| Q1 25 | $479.1M | $380.9M | ||
| Q4 24 | $459.9M | $416.8M | ||
| Q3 24 | $430.1M | $464.0M | ||
| Q2 24 | $401.0M | $550.6M |
净利润NETWNC
| Q1 26 | — | — | ||
| Q4 25 | $-12.1M | $-49.9M | ||
| Q3 25 | $-1.3M | $40.0M | ||
| Q2 25 | $-50.4M | $-9.6M | ||
| Q1 25 | $-38.5M | $230.9M | ||
| Q4 24 | $-12.8M | $-1.0M | ||
| Q3 24 | $-15.3M | $-330.2M | ||
| Q2 24 | $-15.1M | $29.0M |
毛利率NETWNC
| Q1 26 | — | 2.8% | ||
| Q4 25 | 73.6% | -1.9% | ||
| Q3 25 | 74.0% | 4.1% | ||
| Q2 25 | 74.9% | 9.0% | ||
| Q1 25 | 75.9% | 5.0% | ||
| Q4 24 | 76.4% | 10.3% | ||
| Q3 24 | 77.7% | 12.1% | ||
| Q2 24 | 77.8% | 16.3% |
营业利润率NETWNC
| Q1 26 | — | 1.3% | ||
| Q4 25 | -8.0% | -18.6% | ||
| Q3 25 | -6.7% | 15.1% | ||
| Q2 25 | -13.1% | -1.0% | ||
| Q1 25 | -11.1% | 82.6% | ||
| Q4 24 | -7.5% | 0.9% | ||
| Q3 24 | -7.2% | -93.3% | ||
| Q2 24 | -8.7% | 7.9% |
净利率NETWNC
| Q1 26 | — | — | ||
| Q4 25 | -2.0% | -15.5% | ||
| Q3 25 | -0.2% | 10.5% | ||
| Q2 25 | -9.8% | -2.1% | ||
| Q1 25 | -8.0% | 60.6% | ||
| Q4 24 | -2.8% | -0.2% | ||
| Q3 24 | -3.6% | -71.2% | ||
| Q2 24 | -3.8% | 5.3% |
每股收益（稀释后）NETWNC
| Q1 26 | — | $-1.11 | ||
| Q4 25 | $-0.03 | $-1.03 | ||
| Q3 25 | $0.00 | $0.97 | ||
| Q2 25 | $-0.15 | $-0.23 | ||
| Q1 25 | $-0.11 | $5.36 | ||
| Q4 24 | $-0.05 | $0.10 | ||
| Q3 24 | $-0.04 | $-7.53 | ||
| Q2 24 | $-0.04 | $0.64 |
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 | $43.4M |
| 总债务越低越好 | — | $498.0M |
| 股东权益账面价值 | $1.5B | — |
| 总资产 | $6.0B | $1.2B |
| 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NETWNC
| Q1 26 | — | $43.4M | ||
| Q4 25 | $943.5M | $31.9M | ||
| Q3 25 | $1.1B | $91.7M | ||
| Q2 25 | $1.5B | $57.4M | ||
| Q1 25 | $204.5M | $81.0M | ||
| Q4 24 | $147.7M | $115.5M | ||
| Q3 24 | $182.9M | $81.8M | ||
| Q2 24 | $157.0M | $77.3M |
总债务NETWNC
| Q1 26 | — | $498.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $425.0M | ||
| Q2 25 | — | $440.0M | ||
| Q1 25 | — | $420.0M | ||
| Q4 24 | — | $400.0M | ||
| Q3 24 | — | $400.0M | ||
| Q2 24 | — | $400.0M |
股东权益NETWNC
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $367.4M | ||
| Q3 25 | $1.3B | $418.7M | ||
| Q2 25 | $1.2B | $385.2M | ||
| Q1 25 | $1.4B | $403.8M | ||
| Q4 24 | $1.0B | $188.8M | ||
| Q3 24 | $973.1M | $200.5M | ||
| Q2 24 | $881.5M | $550.4M |
总资产NETWNC
| Q1 26 | — | $1.2B | ||
| Q4 25 | $6.0B | $1.2B | ||
| Q3 25 | $5.8B | $1.3B | ||
| Q2 25 | $5.6B | $1.4B | ||
| Q1 25 | $3.7B | $1.4B | ||
| Q4 24 | $3.3B | $1.4B | ||
| Q3 24 | $3.1B | $1.5B | ||
| Q2 24 | $2.9B | $1.3B |
负债/权益比NETWNC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.01× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.04× | ||
| Q4 24 | — | 2.12× | ||
| Q3 24 | — | 1.99× | ||
| Q2 24 | — | 0.73× |
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 | $-33.7M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $-37.3M |
| 自由现金流率自由现金流/营收 | 17.1% | -12.3% |
| 资本支出强度资本支出/营收 | 13.9% | 1.1% |
| 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 | $-41.4M |
8季度趋势，按日历期对齐
经营现金流NETWNC
| Q1 26 | — | $-33.7M | ||
| Q4 25 | $190.4M | $-57.4M | ||
| Q3 25 | $167.1M | $85.2M | ||
| Q2 25 | $99.8M | $-15.8M | ||
| Q1 25 | $145.8M | $-272.0K | ||
| Q4 24 | $127.3M | $80.9M | ||
| Q3 24 | $104.7M | $42.8M | ||
| Q2 24 | $74.8M | $11.0M |
自由现金流NETWNC
| Q1 26 | — | $-37.3M | ||
| Q4 25 | $105.2M | $-61.9M | ||
| Q3 25 | $82.5M | $79.9M | ||
| Q2 25 | $39.9M | $-22.1M | ||
| Q1 25 | $59.9M | $-9.0M | ||
| Q4 24 | $54.2M | $59.5M | ||
| Q3 24 | $54.5M | $28.2M | ||
| Q2 24 | $45.2M | $-6.1M |
自由现金流率NETWNC
| Q1 26 | — | -12.3% | ||
| Q4 25 | 17.1% | -19.3% | ||
| Q3 25 | 14.7% | 20.9% | ||
| Q2 25 | 7.8% | -4.8% | ||
| Q1 25 | 12.5% | -2.4% | ||
| Q4 24 | 11.8% | 14.3% | ||
| Q3 24 | 12.7% | 6.1% | ||
| Q2 24 | 11.3% | -1.1% |
资本支出强度NETWNC
| Q1 26 | — | 1.1% | ||
| Q4 25 | 13.9% | 1.4% | ||
| Q3 25 | 15.1% | 1.4% | ||
| Q2 25 | 11.7% | 1.4% | ||
| Q1 25 | 17.9% | 2.3% | ||
| Q4 24 | 15.9% | 5.1% | ||
| Q3 24 | 11.7% | 3.1% | ||
| Q2 24 | 7.4% | 3.1% |
现金转化率NETWNC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.13× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.00× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.38× |
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% |
WNC
暂无分部数据
