vs
网飞（NFLX）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
网飞的季度营收约是Smurfit Westrock的1.6倍（$12.2B vs $7.6B），网飞净利率更高（43.1% vs 1.3%，领先41.8%），网飞同比增速更快（16.2% vs 0.5%），网飞自由现金流更多（$5.1B vs $612.0M），过去两年Smurfit Westrock的营收复合增速更高（60.8% vs 13.2%）
网飞是来自美国的会员制点播流媒体服务平台，主要提供不同品类的原创及引进电影、电视剧内容，业务覆盖全球众多国家和地区，支持多语言服务，致力于为全球用户提供多元优质的视听娱乐体验。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
NFLX vs SW — 直观对比
营收规模更大
NFLX
是对方的1.6倍
$7.6B
营收增速更快
NFLX
高出15.6%
0.5%
净利率更高
NFLX
高出41.8%
1.3%
自由现金流更多
NFLX
多$4.5B
$612.0M
两年增速更快
SW
近两年复合增速
13.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $12.2B | $7.6B |
| 净利润 | $5.3B | $97.0M |
| 毛利率 | 51.9% | 18.2% |
| 营业利润率 | 32.3% | 5.1% |
| 净利率 | 43.1% | 1.3% |
| 营收同比 | 16.2% | 0.5% |
| 净利润同比 | 82.8% | -33.6% |
| 每股收益（稀释后） | $1.23 | $0.18 |
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NFLXSW
| Q1 26 | $12.2B | — | ||
| Q4 25 | $12.1B | $7.6B | ||
| Q3 25 | $11.5B | $8.0B | ||
| Q2 25 | $11.1B | $7.9B | ||
| Q1 25 | $10.5B | $7.7B | ||
| Q4 24 | $10.2B | $7.5B | ||
| Q3 24 | $9.8B | $7.7B | ||
| Q2 24 | $9.6B | $3.0B |
净利润NFLXSW
| Q1 26 | $5.3B | — | ||
| Q4 25 | $2.4B | $97.0M | ||
| Q3 25 | $2.5B | $246.0M | ||
| Q2 25 | $3.1B | $-28.0M | ||
| Q1 25 | $2.9B | $384.0M | ||
| Q4 24 | $1.9B | $146.0M | ||
| Q3 24 | $2.4B | $-150.0M | ||
| Q2 24 | $2.1B | $132.0M |
毛利率NFLXSW
| Q1 26 | 51.9% | — | ||
| Q4 25 | 45.9% | 18.2% | ||
| Q3 25 | 46.4% | 19.6% | ||
| Q2 25 | 51.9% | 19.1% | ||
| Q1 25 | 50.1% | 20.6% | ||
| Q4 24 | 43.7% | 19.1% | ||
| Q3 24 | 47.9% | 17.6% | ||
| Q2 24 | 45.9% | 23.3% |
营业利润率NFLXSW
| Q1 26 | 32.3% | — | ||
| Q4 25 | 24.5% | 5.1% | ||
| Q3 25 | 28.2% | 6.6% | ||
| Q2 25 | 34.1% | 3.2% | ||
| Q1 25 | 31.7% | 7.2% | ||
| Q4 24 | 22.2% | 5.3% | ||
| Q3 24 | 29.6% | 0.7% | ||
| Q2 24 | 27.2% | 8.2% |
净利率NFLXSW
| Q1 26 | 43.1% | — | ||
| Q4 25 | 20.1% | 1.3% | ||
| Q3 25 | 22.1% | 3.1% | ||
| Q2 25 | 28.2% | -0.4% | ||
| Q1 25 | 27.4% | 5.0% | ||
| Q4 24 | 18.2% | 1.9% | ||
| Q3 24 | 24.1% | -2.0% | ||
| Q2 24 | 22.5% | 4.4% |
每股收益（稀释后）NFLXSW
| Q1 26 | $1.23 | — | ||
| Q4 25 | $-17.14 | $0.18 | ||
| Q3 25 | $5.87 | $0.47 | ||
| Q2 25 | $7.19 | $-0.05 | ||
| Q1 25 | $0.66 | $0.73 | ||
| Q4 24 | $4.27 | $-0.12 | ||
| Q3 24 | $5.40 | $-0.30 | ||
| Q2 24 | $4.88 | $0.51 |
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 | $12.3B | $892.0M |
| 总债务越低越好 | $13.4B | $13.4B |
| 股东权益账面价值 | $31.1B | $18.3B |
| 总资产 | $61.0B | $45.2B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.73× |
8季度趋势，按日历期对齐
现金及短期投资NFLXSW
| Q1 26 | $12.3B | — | ||
| Q4 25 | $9.1B | $892.0M | ||
| Q3 25 | $9.3B | $851.0M | ||
| Q2 25 | $8.4B | $778.0M | ||
| Q1 25 | $8.4B | $797.0M | ||
| Q4 24 | $9.6B | $855.0M | ||
| Q3 24 | $9.2B | — | ||
| Q2 24 | $6.7B | $26.8K |
总债务NFLXSW
| Q1 26 | $13.4B | — | ||
| Q4 25 | $13.5B | $13.4B | ||
| Q3 25 | $14.5B | $13.3B | ||
| Q2 25 | $14.5B | $13.3B | ||
| Q1 25 | $14.0B | $12.9B | ||
| Q4 24 | $13.8B | $12.5B | ||
| Q3 24 | $14.2B | $13.2B | ||
| Q2 24 | $12.2B | — |
股东权益NFLXSW
| Q1 26 | $31.1B | — | ||
| Q4 25 | $26.6B | $18.3B | ||
| Q3 25 | $26.0B | $18.4B | ||
| Q2 25 | $25.0B | $18.3B | ||
| Q1 25 | $24.0B | $17.9B | ||
| Q4 24 | $24.7B | $17.4B | ||
| Q3 24 | $22.7B | $18.0B | ||
| Q2 24 | $22.1B | $14.5K |
总资产NFLXSW
| Q1 26 | $61.0B | — | ||
| Q4 25 | $55.6B | $45.2B | ||
| Q3 25 | $54.9B | $45.6B | ||
| Q2 25 | $53.1B | $45.7B | ||
| Q1 25 | $52.1B | $44.6B | ||
| Q4 24 | $53.6B | $43.8B | ||
| Q3 24 | $52.3B | $45.0B | ||
| Q2 24 | $49.1B | $26.8K |
负债/权益比NFLXSW
| Q1 26 | 0.43× | — | ||
| Q4 25 | 0.51× | 0.73× | ||
| Q3 25 | 0.56× | 0.72× | ||
| Q2 25 | 0.58× | 0.73× | ||
| Q1 25 | 0.58× | 0.72× | ||
| Q4 24 | 0.56× | 0.72× | ||
| Q3 24 | 0.62× | 0.73× | ||
| Q2 24 | 0.55× | — |
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 | $5.3B | $1.2B |
| 自由现金流经营现金流 - 资本支出 | $5.1B | $612.0M |
| 自由现金流率自由现金流/营收 | 41.6% | 8.1% |
| 资本支出强度资本支出/营收 | 1.6% | 7.7% |
| 现金转化率经营现金流/净利润 | 1.00× | 12.32× |
| 过去12个月自由现金流最近4个季度 | $11.9B | $1.2B |
8季度趋势，按日历期对齐
经营现金流NFLXSW
| Q1 26 | $5.3B | — | ||
| Q4 25 | $2.1B | $1.2B | ||
| Q3 25 | $2.8B | $1.1B | ||
| Q2 25 | $2.4B | $829.0M | ||
| Q1 25 | $2.8B | $235.0M | ||
| Q4 24 | $1.5B | $781.0M | ||
| Q3 24 | $2.3B | $320.0M | ||
| Q2 24 | $1.3B | $340.0M |
自由现金流NFLXSW
| Q1 26 | $5.1B | — | ||
| Q4 25 | $1.9B | $612.0M | ||
| Q3 25 | $2.7B | $523.0M | ||
| Q2 25 | $2.3B | $307.0M | ||
| Q1 25 | $2.7B | $-242.0M | ||
| Q4 24 | $1.4B | $212.0M | ||
| Q3 24 | $2.2B | $-192.0M | ||
| Q2 24 | $1.2B | $163.0M |
自由现金流率NFLXSW
| Q1 26 | 41.6% | — | ||
| Q4 25 | 15.5% | 8.1% | ||
| Q3 25 | 23.1% | 6.5% | ||
| Q2 25 | 20.5% | 3.9% | ||
| Q1 25 | 25.2% | -3.2% | ||
| Q4 24 | 13.5% | 2.8% | ||
| Q3 24 | 22.3% | -2.5% | ||
| Q2 24 | 12.7% | 5.5% |
资本支出强度NFLXSW
| Q1 26 | 1.6% | — | ||
| Q4 25 | 2.0% | 7.7% | ||
| Q3 25 | 1.4% | 7.6% | ||
| Q2 25 | 1.4% | 6.6% | ||
| Q1 25 | 1.2% | 6.2% | ||
| Q4 24 | 1.5% | 7.5% | ||
| Q3 24 | 1.3% | 6.7% | ||
| Q2 24 | 0.8% | 6.0% |
现金转化率NFLXSW
| Q1 26 | 1.00× | — | ||
| Q4 25 | 0.87× | 12.32× | ||
| Q3 25 | 1.11× | 4.61× | ||
| Q2 25 | 0.78× | — | ||
| Q1 25 | 0.97× | 0.61× | ||
| Q4 24 | 0.82× | 5.35× | ||
| Q3 24 | 0.98× | — | ||
| Q2 24 | 0.60× | 2.58× |
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
NFLX
暂无分部数据
SW
| Packaging | $3.3B | 43% |
| Other | $3.2B | 43% |
| Paper | $1.1B | 14% |
