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派拓网络（PANW）与QUALYS, INC.（QLYS）财务数据对比。点击上方公司名可切换其他公司
派拓网络的季度营收约是QUALYS, INC.的14.8倍（$2.6B vs $175.3M），QUALYS, INC.净利率更高（30.3% vs 16.7%，领先13.7%），派拓网络同比增速更快（14.9% vs 10.1%），派拓网络自由现金流更多（$384.0M vs $74.9M），过去两年派拓网络的营收复合增速更高（14.3% vs 9.6%）
派拓网络（Palo Alto Networks）是总部位于美国加利福尼亚州圣克拉拉的跨国网络安全企业，核心产品包括高级防火墙及拓展其防护能力的云原生安全服务，为全球150多个国家的超7万家机构、含85家财富100强企业提供服务，旗下拥有知名威胁研究团队Unit 42，还举办Ignite网络安全行业峰会。
Qualys是总部位于美国加利福尼亚州福斯特城的科技企业，专注于云安全、合规管理及相关服务，为客户提供覆盖云环境的安全防护与合规解决方案，助力企业应对各类网络安全风险，满足不同行业的合规运营需求。
PANW vs QLYS — 直观对比
营收规模更大
PANW
是对方的14.8倍
$175.3M
营收增速更快
PANW
高出4.8%
10.1%
净利率更高
QLYS
高出13.7%
16.7%
自由现金流更多
PANW
多$309.1M
$74.9M
两年增速更快
PANW
近两年复合增速
9.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $175.3M |
| 净利润 | $432.0M | $53.1M |
| 毛利率 | 73.6% | 83.4% |
| 营业利润率 | 15.3% | 33.6% |
| 净利率 | 16.7% | 30.3% |
| 营收同比 | 14.9% | 10.1% |
| 净利润同比 | 61.6% | 20.9% |
| 每股收益（稀释后） | $0.61 | $1.47 |
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PANWQLYS
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.5B | $175.3M | ||
| Q3 25 | $2.5B | $169.9M | ||
| Q2 25 | $2.3B | $164.1M | ||
| Q1 25 | $2.3B | $159.9M | ||
| Q4 24 | $2.1B | $159.2M | ||
| Q3 24 | $2.2B | $153.9M | ||
| Q2 24 | $2.0B | $148.7M |
净利润PANWQLYS
| Q1 26 | $432.0M | — | ||
| Q4 25 | $334.0M | $53.1M | ||
| Q3 25 | $253.8M | $50.3M | ||
| Q2 25 | $262.1M | $47.3M | ||
| Q1 25 | $267.3M | $47.5M | ||
| Q4 24 | $350.7M | $44.0M | ||
| Q3 24 | $357.7M | $46.2M | ||
| Q2 24 | $278.8M | $43.8M |
毛利率PANWQLYS
| Q1 26 | 73.6% | — | ||
| Q4 25 | 74.2% | 83.4% | ||
| Q3 25 | 73.2% | 83.6% | ||
| Q2 25 | 72.9% | 82.4% | ||
| Q1 25 | 73.5% | 81.9% | ||
| Q4 24 | 74.1% | 81.8% | ||
| Q3 24 | 73.8% | 81.3% | ||
| Q2 24 | 74.1% | 82.2% |
营业利润率PANWQLYS
| Q1 26 | 15.3% | — | ||
| Q4 25 | 12.5% | 33.6% | ||
| Q3 25 | 19.6% | 35.3% | ||
| Q2 25 | 9.6% | 31.3% | ||
| Q1 25 | 10.6% | 32.4% | ||
| Q4 24 | 13.4% | 31.0% | ||
| Q3 24 | 10.9% | 29.2% | ||
| Q2 24 | 8.9% | 32.3% |
净利率PANWQLYS
| Q1 26 | 16.7% | — | ||
| Q4 25 | 13.5% | 30.3% | ||
| Q3 25 | 10.0% | 29.6% | ||
| Q2 25 | 11.5% | 28.8% | ||
| Q1 25 | 11.8% | 29.7% | ||
| Q4 24 | 16.4% | 27.6% | ||
| Q3 24 | 16.3% | 30.0% | ||
| Q2 24 | 14.0% | 29.4% |
每股收益（稀释后）PANWQLYS
| Q1 26 | $0.61 | — | ||
| Q4 25 | $0.47 | $1.47 | ||
| Q3 25 | $-0.14 | $1.39 | ||
| Q2 25 | $0.37 | $1.29 | ||
| Q1 25 | $0.38 | $1.29 | ||
| Q4 24 | $0.99 | $1.19 | ||
| Q3 24 | $1.04 | $1.24 | ||
| Q2 24 | $0.79 | $1.17 |
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 | $4.5B | $250.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.4B | $561.2M |
| 总资产 | $25.0B | $1.1B |
| 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PANWQLYS
| Q1 26 | $4.5B | — | ||
| Q4 25 | $4.2B | $250.3M | ||
| Q3 25 | $2.9B | $225.3M | ||
| Q2 25 | $3.3B | $194.0M | ||
| Q1 25 | $3.2B | $290.7M | ||
| Q4 24 | $3.4B | $232.2M | ||
| Q3 24 | $2.6B | $235.4M | ||
| Q2 24 | $2.9B | $281.2M |
股东权益PANWQLYS
| Q1 26 | $9.4B | — | ||
| Q4 25 | $8.7B | $561.2M | ||
| Q3 25 | $7.8B | $529.4M | ||
| Q2 25 | $7.2B | $508.2M | ||
| Q1 25 | $6.4B | $498.0M | ||
| Q4 24 | $5.9B | $477.1M | ||
| Q3 24 | $5.2B | $449.6M | ||
| Q2 24 | $4.5B | $427.8M |
总资产PANWQLYS
| Q1 26 | $25.0B | — | ||
| Q4 25 | $23.5B | $1.1B | ||
| Q3 25 | $23.6B | $1.0B | ||
| Q2 25 | $22.0B | $999.5M | ||
| Q1 25 | $21.0B | $996.5M | ||
| Q4 24 | $20.4B | $973.5M | ||
| Q3 24 | $20.0B | $908.3M | ||
| Q2 24 | $17.9B | $876.6M |
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 | $554.0M | $75.7M |
| 自由现金流经营现金流 - 资本支出 | $384.0M | $74.9M |
| 自由现金流率自由现金流/营收 | 14.8% | 42.8% |
| 资本支出强度资本支出/营收 | 6.6% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.28× | 1.42× |
| 过去12个月自由现金流最近4个季度 | $3.6B | $304.4M |
8季度趋势，按日历期对齐
经营现金流PANWQLYS
| Q1 26 | $554.0M | — | ||
| Q4 25 | $1.8B | $75.7M | ||
| Q3 25 | $1.0B | $90.4M | ||
| Q2 25 | $628.7M | $33.8M | ||
| Q1 25 | $556.9M | $109.6M | ||
| Q4 24 | $1.5B | $47.7M | ||
| Q3 24 | $512.7M | $61.0M | ||
| Q2 24 | $528.9M | $49.8M |
自由现金流PANWQLYS
| Q1 26 | $384.0M | — | ||
| Q4 25 | $1.7B | $74.9M | ||
| Q3 25 | $934.5M | $89.5M | ||
| Q2 25 | $560.4M | $32.4M | ||
| Q1 25 | $509.4M | $107.5M | ||
| Q4 24 | $1.5B | $41.9M | ||
| Q3 24 | $465.3M | $57.6M | ||
| Q2 24 | $491.5M | $48.8M |
自由现金流率PANWQLYS
| Q1 26 | 14.8% | — | ||
| Q4 25 | 68.2% | 42.8% | ||
| Q3 25 | 36.8% | 52.7% | ||
| Q2 25 | 24.5% | 19.8% | ||
| Q1 25 | 22.6% | 67.3% | ||
| Q4 24 | 68.5% | 26.3% | ||
| Q3 24 | 21.3% | 37.4% | ||
| Q2 24 | 24.8% | 32.8% |
资本支出强度PANWQLYS
| Q1 26 | 6.6% | — | ||
| Q4 25 | 3.4% | 0.4% | ||
| Q3 25 | 3.4% | 0.5% | ||
| Q2 25 | 3.0% | 0.8% | ||
| Q1 25 | 2.1% | 1.3% | ||
| Q4 24 | 2.1% | 3.7% | ||
| Q3 24 | 2.2% | 2.2% | ||
| Q2 24 | 1.9% | 0.7% |
现金转化率PANWQLYS
| Q1 26 | 1.28× | — | ||
| Q4 25 | 5.30× | 1.42× | ||
| Q3 25 | 4.02× | 1.80× | ||
| Q2 25 | 2.40× | 0.71× | ||
| Q1 25 | 2.08× | 2.31× | ||
| Q4 24 | 4.30× | 1.09× | ||
| Q3 24 | 1.43× | 1.32× | ||
| Q2 24 | 1.90× | 1.14× |
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
PANW
| Subscription | $1.4B | 54% |
| Support | $676.0M | 26% |
| Products | $514.0M | 20% |
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
