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Cloudflare, Inc.（NET）与Essential Utilities, Inc.（WTRG）财务数据对比。点击上方公司名可切换其他公司
Essential Utilities, Inc.的季度营收约是Cloudflare, Inc.的1.1倍（$699.1M vs $614.5M），Essential Utilities, Inc.净利率更高（19.0% vs -2.0%，领先20.9%），Cloudflare, Inc.同比增速更快（33.6% vs 15.7%），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 6.9%）
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。
Essential Utilities是美国公共事业企业，业务覆盖伊利诺伊、印第安纳、肯塔基、新泽西、北卡罗来纳、俄亥俄、宾夕法尼亚、得克萨斯、弗吉尼亚共九个州，主营饮用水供应、污水处理基础设施运营及天然气供应服务，作为上市公司（股票代码WTRG），是Aqua America和Peoples Natural Gas的母公司，两家子公司仍保留原有品牌独立运营。
NET vs WTRG — 直观对比
营收规模更大
WTRG
是对方的1.1倍
$614.5M
营收增速更快
NET
高出17.9%
15.7%
净利率更高
WTRG
高出20.9%
-2.0%
两年增速更快
NET
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $699.1M |
| 净利润 | $-12.1M | $132.7M |
| 毛利率 | 73.6% | — |
| 营业利润率 | -8.0% | 32.5% |
| 净利率 | -2.0% | 19.0% |
| 营收同比 | 33.6% | 15.7% |
| 净利润同比 | 6.0% | -28.2% |
| 每股收益（稀释后） | $-0.03 | $0.46 |
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NETWTRG
| Q4 25 | $614.5M | $699.1M | ||
| Q3 25 | $562.0M | $477.0M | ||
| Q2 25 | $512.3M | $514.9M | ||
| Q1 25 | $479.1M | $783.6M | ||
| Q4 24 | $459.9M | $604.4M | ||
| Q3 24 | $430.1M | $435.3M | ||
| Q2 24 | $401.0M | $434.4M | ||
| Q1 24 | $378.6M | $612.1M |
净利润NETWTRG
| Q4 25 | $-12.1M | $132.7M | ||
| Q3 25 | $-1.3M | $92.1M | ||
| Q2 25 | $-50.4M | $107.8M | ||
| Q1 25 | $-38.5M | $283.8M | ||
| Q4 24 | $-12.8M | $184.8M | ||
| Q3 24 | $-15.3M | $69.4M | ||
| Q2 24 | $-15.1M | $75.4M | ||
| Q1 24 | $-35.5M | $265.8M |
毛利率NETWTRG
| 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NETWTRG
| Q4 25 | -8.0% | 32.5% | ||
| Q3 25 | -6.7% | 35.6% | ||
| Q2 25 | -13.1% | 36.0% | ||
| Q1 25 | -11.1% | 43.2% | ||
| Q4 24 | -7.5% | 37.5% | ||
| Q3 24 | -7.2% | 35.6% | ||
| Q2 24 | -8.7% | 33.4% | ||
| Q1 24 | -14.4% | 37.7% |
净利率NETWTRG
| Q4 25 | -2.0% | 19.0% | ||
| Q3 25 | -0.2% | 19.3% | ||
| Q2 25 | -9.8% | 20.9% | ||
| Q1 25 | -8.0% | 36.2% | ||
| Q4 24 | -2.8% | 30.6% | ||
| Q3 24 | -3.6% | 15.9% | ||
| Q2 24 | -3.8% | 17.4% | ||
| Q1 24 | -9.4% | 43.4% |
每股收益（稀释后）NETWTRG
| Q4 25 | $-0.03 | $0.46 | ||
| Q3 25 | $0.00 | $0.33 | ||
| Q2 25 | $-0.15 | $0.38 | ||
| Q1 25 | $-0.11 | $1.03 | ||
| Q4 24 | $-0.05 | $0.67 | ||
| Q3 24 | $-0.04 | $0.25 | ||
| Q2 24 | $-0.04 | $0.28 | ||
| Q1 24 | $-0.10 | $0.97 |
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 | $34.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $6.9B |
| 总资产 | $6.0B | $19.5B |
| 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NETWTRG
| Q4 25 | $943.5M | $34.8M | ||
| Q3 25 | $1.1B | $6.4M | ||
| Q2 25 | $1.5B | $25.1M | ||
| Q1 25 | $204.5M | $20.8M | ||
| Q4 24 | $147.7M | $9.2M | ||
| Q3 24 | $182.9M | $8.4M | ||
| Q2 24 | $157.0M | $18.8M | ||
| Q1 24 | $254.4M | $35.2M |
股东权益NETWTRG
| Q4 25 | $1.5B | $6.9B | ||
| Q3 25 | $1.3B | $6.8B | ||
| Q2 25 | $1.2B | $6.7B | ||
| Q1 25 | $1.4B | $6.5B | ||
| Q4 24 | $1.0B | $6.2B | ||
| Q3 24 | $973.1M | $6.2B | ||
| Q2 24 | $881.5M | $6.2B | ||
| Q1 24 | $797.2M | $6.1B |
总资产NETWTRG
| Q4 25 | $6.0B | $19.5B | ||
| Q3 25 | $5.8B | $18.9B | ||
| Q2 25 | $5.6B | $18.6B | ||
| Q1 25 | $3.7B | $18.3B | ||
| Q4 24 | $3.3B | $18.0B | ||
| Q3 24 | $3.1B | $17.6B | ||
| Q2 24 | $2.9B | $17.3B | ||
| Q1 24 | $2.8B | $17.1B |
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 | $206.1M |
| 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 | — | 1.55× |
| 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NETWTRG
| Q4 25 | $190.4M | $206.1M | ||
| Q3 25 | $167.1M | $232.5M | ||
| Q2 25 | $99.8M | $272.3M | ||
| Q1 25 | $145.8M | $299.5M | ||
| Q4 24 | $127.3M | $147.8M | ||
| Q3 24 | $104.7M | $196.1M | ||
| Q2 24 | $74.8M | $185.7M | ||
| Q1 24 | $73.6M | $240.7M |
自由现金流NETWTRG
| 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NETWTRG
| 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NETWTRG
| 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NETWTRG
| Q4 25 | — | 1.55× | ||
| Q3 25 | — | 2.53× | ||
| Q2 25 | — | 2.53× | ||
| Q1 25 | — | 1.06× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 2.83× | ||
| Q2 24 | — | 2.46× | ||
| Q1 24 | — | 0.91× |
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% |
WTRG
| Natural Gas | $371.7M | 53% |
| Water | $269.4M | 39% |
| Wastewater | $57.2M | 8% |
| Other | $2.7M | 0% |
