vs
Cloudflare, Inc.（NET）与登士柏西诺德（XRAY）财务数据对比。点击上方公司名可切换其他公司
登士柏西诺德的季度营收约是Cloudflare, Inc.的1.6倍（$961.0M vs $614.5M），Cloudflare, Inc.净利率更高（-2.0% vs -15.2%，领先13.2%），Cloudflare, Inc.同比增速更快（33.6% vs 6.2%），Cloudflare, Inc.自由现金流更多（$105.2M vs $60.0M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 0.4%）
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。
登士柏西诺德是美国牙科设备及耗材制造商，业务覆盖全球120多个国家，在21个国家设有生产工厂。该公司前身为1993年Gendex公司以5.9亿美元收购登士柏国际后整合组建的企业，是全球牙科领域的重要供应商。
NET vs XRAY — 直观对比
营收规模更大
XRAY
是对方的1.6倍
$614.5M
营收增速更快
NET
高出27.4%
6.2%
净利率更高
NET
高出13.2%
-15.2%
自由现金流更多
NET
多$45.2M
$60.0M
两年增速更快
NET
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.5M | $961.0M |
| 净利润 | $-12.1M | $-146.0M |
| 毛利率 | 73.6% | 46.1% |
| 营业利润率 | -8.0% | -14.5% |
| 净利率 | -2.0% | -15.2% |
| 营收同比 | 33.6% | 6.2% |
| 净利润同比 | 6.0% | 66.0% |
| 每股收益（稀释后） | $-0.03 | $-0.74 |
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NETXRAY
| Q4 25 | $614.5M | $961.0M | ||
| Q3 25 | $562.0M | $904.0M | ||
| Q2 25 | $512.3M | $936.0M | ||
| Q1 25 | $479.1M | $879.0M | ||
| Q4 24 | $459.9M | $905.0M | ||
| Q3 24 | $430.1M | $951.0M | ||
| Q2 24 | $401.0M | $984.0M | ||
| Q1 24 | $378.6M | $953.0M |
净利润NETXRAY
| Q4 25 | $-12.1M | $-146.0M | ||
| Q3 25 | $-1.3M | $-427.0M | ||
| Q2 25 | $-50.4M | $-45.0M | ||
| Q1 25 | $-38.5M | $20.0M | ||
| Q4 24 | $-12.8M | $-430.0M | ||
| Q3 24 | $-15.3M | $-494.0M | ||
| Q2 24 | $-15.1M | $-4.0M | ||
| Q1 24 | $-35.5M | $18.0M |
毛利率NETXRAY
| Q4 25 | 73.6% | 46.1% | ||
| Q3 25 | 74.0% | 48.8% | ||
| Q2 25 | 74.9% | 52.4% | ||
| Q1 25 | 75.9% | 53.0% | ||
| Q4 24 | 76.4% | 49.3% | ||
| Q3 24 | 77.7% | 52.1% | ||
| Q2 24 | 77.8% | 51.9% | ||
| Q1 24 | 77.5% | 53.1% |
营业利润率NETXRAY
| Q4 25 | -8.0% | -14.5% | ||
| Q3 25 | -6.7% | -24.1% | ||
| Q2 25 | -13.1% | -13.7% | ||
| Q1 25 | -11.1% | 7.2% | ||
| Q4 24 | -7.5% | -56.2% | ||
| Q3 24 | -7.2% | -48.6% | ||
| Q2 24 | -8.7% | 5.1% | ||
| Q1 24 | -14.4% | 4.4% |
净利率NETXRAY
| Q4 25 | -2.0% | -15.2% | ||
| Q3 25 | -0.2% | -47.2% | ||
| Q2 25 | -9.8% | -4.8% | ||
| Q1 25 | -8.0% | 2.3% | ||
| Q4 24 | -2.8% | -47.5% | ||
| Q3 24 | -3.6% | -51.9% | ||
| Q2 24 | -3.8% | -0.4% | ||
| Q1 24 | -9.4% | 1.9% |
每股收益（稀释后）NETXRAY
| Q4 25 | $-0.03 | $-0.74 | ||
| Q3 25 | $0.00 | $-2.14 | ||
| Q2 25 | $-0.15 | $-0.22 | ||
| Q1 25 | $-0.11 | $0.10 | ||
| Q4 24 | $-0.05 | $-2.09 | ||
| Q3 24 | $-0.04 | $-2.46 | ||
| Q2 24 | $-0.04 | $-0.02 | ||
| Q1 24 | $-0.10 | $0.09 |
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 | $326.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $1.5B | $1.3B |
| 总资产 | $6.0B | $5.4B |
| 负债/权益比越低杠杆越低 | — | 1.70× |
8季度趋势，按日历期对齐
现金及短期投资NETXRAY
| Q4 25 | $943.5M | $326.0M | ||
| Q3 25 | $1.1B | $363.0M | ||
| Q2 25 | $1.5B | $359.0M | ||
| Q1 25 | $204.5M | $398.0M | ||
| Q4 24 | $147.7M | $272.0M | ||
| Q3 24 | $182.9M | $296.0M | ||
| Q2 24 | $157.0M | $279.0M | ||
| Q1 24 | $254.4M | $291.0M |
总债务NETXRAY
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益NETXRAY
| Q4 25 | $1.5B | $1.3B | ||
| Q3 25 | $1.3B | $1.5B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.0B | $1.9B | ||
| Q3 24 | $973.1M | $2.5B | ||
| Q2 24 | $881.5M | $3.1B | ||
| Q1 24 | $797.2M | $3.3B |
总资产NETXRAY
| Q4 25 | $6.0B | $5.4B | ||
| Q3 25 | $5.8B | $5.7B | ||
| Q2 25 | $5.6B | $6.1B | ||
| Q1 25 | $3.7B | $6.0B | ||
| Q4 24 | $3.3B | $5.8B | ||
| Q3 24 | $3.1B | $6.6B | ||
| Q2 24 | $2.9B | $6.9B | ||
| Q1 24 | $2.8B | $7.1B |
负债/权益比NETXRAY
| Q4 25 | — | 1.70× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $105.2M | $60.0M |
| 自由现金流率自由现金流/营收 | 17.1% | 6.2% |
| 资本支出强度资本支出/营收 | 13.9% | 4.3% |
| 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 | $104.0M |
8季度趋势，按日历期对齐
经营现金流NETXRAY
| Q4 25 | $190.4M | $101.0M | ||
| Q3 25 | $167.1M | $79.0M | ||
| Q2 25 | $99.8M | $48.0M | ||
| Q1 25 | $145.8M | $7.0M | ||
| Q4 24 | $127.3M | $87.0M | ||
| Q3 24 | $104.7M | $141.0M | ||
| Q2 24 | $74.8M | $208.0M | ||
| Q1 24 | $73.6M | $25.0M |
自由现金流NETXRAY
| Q4 25 | $105.2M | $60.0M | ||
| Q3 25 | $82.5M | $40.0M | ||
| Q2 25 | $39.9M | $16.0M | ||
| Q1 25 | $59.9M | $-12.0M | ||
| Q4 24 | $54.2M | $36.0M | ||
| Q3 24 | $54.5M | $98.0M | ||
| Q2 24 | $45.2M | $156.0M | ||
| Q1 24 | $41.5M | $-9.0M |
自由现金流率NETXRAY
| Q4 25 | 17.1% | 6.2% | ||
| Q3 25 | 14.7% | 4.4% | ||
| Q2 25 | 7.8% | 1.7% | ||
| Q1 25 | 12.5% | -1.4% | ||
| Q4 24 | 11.8% | 4.0% | ||
| Q3 24 | 12.7% | 10.3% | ||
| Q2 24 | 11.3% | 15.9% | ||
| Q1 24 | 11.0% | -0.9% |
资本支出强度NETXRAY
| Q4 25 | 13.9% | 4.3% | ||
| Q3 25 | 15.1% | 4.3% | ||
| Q2 25 | 11.7% | 3.4% | ||
| Q1 25 | 17.9% | 2.2% | ||
| Q4 24 | 15.9% | 5.6% | ||
| Q3 24 | 11.7% | 4.5% | ||
| Q2 24 | 7.4% | 5.3% | ||
| Q1 24 | 8.5% | 3.6% |
现金转化率NETXRAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.39× |
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% |
XRAY
| Essential Dental Solutions | $372.0M | 39% |
| Equipment And Instruments | $160.0M | 17% |
| Implants And Prosthetics | $150.0M | 16% |
| CADCAM | $139.0M | 14% |
| Wellspect Healthcare | $88.0M | 9% |
| Orthodontics | $52.0M | 5% |
