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派拓网络（PANW）与RYDER SYSTEM INC（R）财务数据对比。点击上方公司名可切换其他公司
RYDER SYSTEM INC的季度营收约是派拓网络的1.2倍（$3.1B vs $2.6B），派拓网络净利率更高（16.7% vs 3.0%，领先13.7%），派拓网络同比增速更快（14.9% vs 1.0%），派拓网络自由现金流更多（$384.0M vs $273.0M），过去两年派拓网络的营收复合增速更高（14.3% vs -0.9%）
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。
Ryder System Inc.是美国专业运输物流服务商，总部位于佛罗里达州科勒尔盖布尔斯，业务覆盖美国及英国，核心业务包含卡车租赁、车队管理、供应链及运输管理，同时提供车辆维保、二手车销售、专业司机派遣、电商履约与最后一公里配送等多元服务。
PANW vs R — 直观对比
营收规模更大
R
是对方的1.2倍
$2.6B
营收增速更快
PANW
高出13.9%
1.0%
净利率更高
PANW
高出13.7%
3.0%
自由现金流更多
PANW
多$111.0M
$273.0M
两年增速更快
PANW
近两年复合增速
-0.9%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $3.1B |
| 净利润 | $432.0M | $93.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | 15.3% | — |
| 净利率 | 16.7% | 3.0% |
| 营收同比 | 14.9% | 1.0% |
| 净利润同比 | 61.6% | -5.1% |
| 每股收益（稀释后） | $0.61 | $2.34 |
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PANWR
| Q1 26 | $2.6B | $3.1B | ||
| Q4 25 | $2.5B | $3.2B | ||
| Q3 25 | $2.5B | $3.2B | ||
| Q2 25 | $2.3B | $3.2B | ||
| Q1 25 | $2.3B | $3.1B | ||
| Q4 24 | $2.1B | $3.2B | ||
| Q3 24 | $2.2B | $3.2B | ||
| Q2 24 | $2.0B | $3.2B |
净利润PANWR
| Q1 26 | $432.0M | $93.0M | ||
| Q4 25 | $334.0M | $132.0M | ||
| Q3 25 | $253.8M | $138.0M | ||
| Q2 25 | $262.1M | $131.0M | ||
| Q1 25 | $267.3M | $98.0M | ||
| Q4 24 | $350.7M | $135.0M | ||
| Q3 24 | $357.7M | $142.0M | ||
| Q2 24 | $278.8M | $127.0M |
毛利率PANWR
| Q1 26 | 73.6% | — | ||
| Q4 25 | 74.2% | — | ||
| Q3 25 | 73.2% | — | ||
| Q2 25 | 72.9% | — | ||
| Q1 25 | 73.5% | — | ||
| Q4 24 | 74.1% | — | ||
| Q3 24 | 73.8% | — | ||
| Q2 24 | 74.1% | — |
营业利润率PANWR
| Q1 26 | 15.3% | — | ||
| Q4 25 | 12.5% | 5.6% | ||
| Q3 25 | 19.6% | 6.0% | ||
| Q2 25 | 9.6% | 5.8% | ||
| Q1 25 | 10.6% | 4.3% | ||
| Q4 24 | 13.4% | 5.7% | ||
| Q3 24 | 10.9% | 5.9% | ||
| Q2 24 | 8.9% | 5.6% |
净利率PANWR
| Q1 26 | 16.7% | 3.0% | ||
| Q4 25 | 13.5% | 4.2% | ||
| Q3 25 | 10.0% | 4.4% | ||
| Q2 25 | 11.5% | 4.1% | ||
| Q1 25 | 11.8% | 3.1% | ||
| Q4 24 | 16.4% | 4.2% | ||
| Q3 24 | 16.3% | 4.5% | ||
| Q2 24 | 14.0% | 4.0% |
每股收益（稀释后）PANWR
| Q1 26 | $0.61 | $2.34 | ||
| Q4 25 | $0.47 | $3.22 | ||
| Q3 25 | $-0.14 | $3.32 | ||
| Q2 25 | $0.37 | $3.13 | ||
| Q1 25 | $0.38 | $2.27 | ||
| Q4 24 | $0.99 | $3.09 | ||
| Q3 24 | $1.04 | $3.24 | ||
| Q2 24 | $0.79 | $2.84 |
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 | $182.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.4B | $2.9B |
| 总资产 | $25.0B | — |
| 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PANWR
| Q1 26 | $4.5B | $182.0M | ||
| Q4 25 | $4.2B | $198.0M | ||
| Q3 25 | $2.9B | $189.0M | ||
| Q2 25 | $3.3B | $180.0M | ||
| Q1 25 | $3.2B | $151.0M | ||
| Q4 24 | $3.4B | $154.0M | ||
| Q3 24 | $2.6B | $162.0M | ||
| Q2 24 | $2.9B | $164.0M |
总债务PANWR
| Q1 26 | — | — | ||
| Q4 25 | — | $6.8B | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $7.0B | ||
| Q1 25 | — | $6.7B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | — | $6.6B | ||
| Q2 24 | — | $6.5B |
股东权益PANWR
| Q1 26 | $9.4B | $2.9B | ||
| Q4 25 | $8.7B | $3.1B | ||
| Q3 25 | $7.8B | $3.1B | ||
| Q2 25 | $7.2B | $3.1B | ||
| Q1 25 | $6.4B | $3.0B | ||
| Q4 24 | $5.9B | $3.1B | ||
| Q3 24 | $5.2B | $3.1B | ||
| Q2 24 | $4.5B | $3.1B |
总资产PANWR
| Q1 26 | $25.0B | — | ||
| Q4 25 | $23.5B | $16.4B | ||
| Q3 25 | $23.6B | $16.5B | ||
| Q2 25 | $22.0B | $16.5B | ||
| Q1 25 | $21.0B | $16.4B | ||
| Q4 24 | $20.4B | $16.7B | ||
| Q3 24 | $20.0B | $16.5B | ||
| Q2 24 | $17.9B | $16.4B |
负债/权益比PANWR
| Q1 26 | — | — | ||
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 2.35× | ||
| Q2 25 | — | 2.27× | ||
| Q1 25 | — | 2.21× | ||
| Q4 24 | — | 2.14× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 2.09× |
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 | $583.0M |
| 自由现金流经营现金流 - 资本支出 | $384.0M | $273.0M |
| 自由现金流率自由现金流/营收 | 14.8% | 8.7% |
| 资本支出强度资本支出/营收 | 6.6% | 13.7% |
| 现金转化率经营现金流/净利润 | 1.28× | 6.27× |
| 过去12个月自由现金流最近4个季度 | $3.6B | $595.0M |
8季度趋势，按日历期对齐
经营现金流PANWR
| Q1 26 | $554.0M | $583.0M | ||
| Q4 25 | $1.8B | $749.0M | ||
| Q3 25 | $1.0B | $442.0M | ||
| Q2 25 | $628.7M | $752.0M | ||
| Q1 25 | $556.9M | $651.0M | ||
| Q4 24 | $1.5B | $558.0M | ||
| Q3 24 | $512.7M | $629.0M | ||
| Q2 24 | $528.9M | $552.0M |
自由现金流PANWR
| Q1 26 | $384.0M | $273.0M | ||
| Q4 25 | $1.7B | $344.0M | ||
| Q3 25 | $934.5M | $-85.0M | ||
| Q2 25 | $560.4M | $63.0M | ||
| Q1 25 | $509.4M | $137.0M | ||
| Q4 24 | $1.5B | $-201.0M | ||
| Q3 24 | $465.3M | $30.0M | ||
| Q2 24 | $491.5M | $-87.0M |
自由现金流率PANWR
| Q1 26 | 14.8% | 8.7% | ||
| Q4 25 | 68.2% | 10.8% | ||
| Q3 25 | 36.8% | -2.7% | ||
| Q2 25 | 24.5% | 2.0% | ||
| Q1 25 | 22.6% | 4.4% | ||
| Q4 24 | 68.5% | -6.3% | ||
| Q3 24 | 21.3% | 0.9% | ||
| Q2 24 | 24.8% | -2.7% |
资本支出强度PANWR
| Q1 26 | 6.6% | 13.7% | ||
| Q4 25 | 3.4% | 12.8% | ||
| Q3 25 | 3.4% | 16.6% | ||
| Q2 25 | 3.0% | 21.6% | ||
| Q1 25 | 2.1% | 16.4% | ||
| Q4 24 | 2.1% | 23.8% | ||
| Q3 24 | 2.2% | 18.9% | ||
| Q2 24 | 1.9% | 20.1% |
现金转化率PANWR
| Q1 26 | 1.28× | 6.27× | ||
| Q4 25 | 5.30× | 5.67× | ||
| Q3 25 | 4.02× | 3.20× | ||
| Q2 25 | 2.40× | 5.74× | ||
| Q1 25 | 2.08× | 6.64× | ||
| Q4 24 | 4.30× | 4.13× | ||
| Q3 24 | 1.43× | 4.43× | ||
| Q2 24 | 1.90× | 4.35× |
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% |
R
| Fleet Management Solutions | $1.5B | 47% |
| ChoiceLease | $878.0M | 28% |
| Dedicated Transportation Solutions | $553.0M | 18% |
| Commercial rental | $211.0M | 7% |
