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派拓网络（PANW）与皇家加勒比集团（RCL）财务数据对比。点击上方公司名可切换其他公司
皇家加勒比集团的季度营收约是派拓网络的1.6倍（$4.3B vs $2.6B），皇家加勒比集团净利率更高（17.9% vs 16.7%，领先1.2%），派拓网络同比增速更快（14.9% vs 13.2%），过去两年派拓网络的营收复合增速更高（14.3% vs 1.8%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
PANW vs RCL — 直观对比
营收规模更大
RCL
是对方的1.6倍
$2.6B
营收增速更快
PANW
高出1.7%
13.2%
净利率更高
RCL
高出1.2%
16.7%
两年增速更快
PANW
近两年复合增速
1.8%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.6B | $4.3B |
| 净利润 | $432.0M | $762.0M |
| 毛利率 | 73.6% | — |
| 营业利润率 | 15.3% | 21.9% |
| 净利率 | 16.7% | 17.9% |
| 营收同比 | 14.9% | 13.2% |
| 净利润同比 | 61.6% | 36.3% |
| 每股收益（稀释后） | $0.61 | $2.76 |
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PANWRCL
| Q1 26 | $2.6B | $4.3B | ||
| Q4 25 | $2.5B | $4.3B | ||
| Q3 25 | $2.5B | $5.1B | ||
| Q2 25 | $2.3B | $4.5B | ||
| Q1 25 | $2.3B | $4.0B | ||
| Q4 24 | $2.1B | $3.8B | ||
| Q3 24 | $2.2B | $4.9B | ||
| Q2 24 | $2.0B | $4.1B |
净利润PANWRCL
| Q1 26 | $432.0M | $762.0M | ||
| Q4 25 | $334.0M | $753.0M | ||
| Q3 25 | $253.8M | $1.6B | ||
| Q2 25 | $262.1M | $1.2B | ||
| Q1 25 | $267.3M | $730.0M | ||
| Q4 24 | $350.7M | $552.0M | ||
| Q3 24 | $357.7M | $1.1B | ||
| Q2 24 | $278.8M | $854.0M |
毛利率PANWRCL
| Q1 26 | 73.6% | — | ||
| Q4 25 | 74.2% | 47.4% | ||
| Q3 25 | 73.2% | 51.8% | ||
| Q2 25 | 72.9% | 49.7% | ||
| Q1 25 | 73.5% | 48.0% | ||
| Q4 24 | 74.1% | 45.4% | ||
| Q3 24 | 73.8% | 51.1% | ||
| Q2 24 | 74.1% | 47.6% |
营业利润率PANWRCL
| Q1 26 | 15.3% | 21.9% | ||
| Q4 25 | 12.5% | 21.9% | ||
| Q3 25 | 19.6% | 33.1% | ||
| Q2 25 | 9.6% | 29.3% | ||
| Q1 25 | 10.6% | 23.6% | ||
| Q4 24 | 13.4% | 16.6% | ||
| Q3 24 | 10.9% | 33.4% | ||
| Q2 24 | 8.9% | 26.7% |
净利率PANWRCL
| Q1 26 | 16.7% | 17.9% | ||
| Q4 25 | 13.5% | 17.7% | ||
| Q3 25 | 10.0% | 30.6% | ||
| Q2 25 | 11.5% | 26.7% | ||
| Q1 25 | 11.8% | 18.3% | ||
| Q4 24 | 16.4% | 14.7% | ||
| Q3 24 | 16.3% | 22.7% | ||
| Q2 24 | 14.0% | 20.8% |
每股收益（稀释后）PANWRCL
| Q1 26 | $0.61 | $2.76 | ||
| Q4 25 | $0.47 | $2.76 | ||
| Q3 25 | $-0.14 | $5.74 | ||
| Q2 25 | $0.37 | $4.41 | ||
| Q1 25 | $0.38 | $2.70 | ||
| Q4 24 | $0.99 | $2.27 | ||
| Q3 24 | $1.04 | $4.21 | ||
| Q2 24 | $0.79 | $3.11 |
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 | $825.0M |
| 总债务越低越好 | — | $21.3B |
| 股东权益账面价值 | $9.4B | $10.2B |
| 总资产 | $25.0B | $41.6B |
| 负债/权益比越低杠杆越低 | — | 2.08× |
8季度趋势，按日历期对齐
现金及短期投资PANWRCL
| Q1 26 | $4.5B | $825.0M | ||
| Q4 25 | $4.2B | $825.0M | ||
| Q3 25 | $2.9B | $432.0M | ||
| Q2 25 | $3.3B | $735.0M | ||
| Q1 25 | $3.2B | $386.0M | ||
| Q4 24 | $3.4B | $388.0M | ||
| Q3 24 | $2.6B | $418.0M | ||
| Q2 24 | $2.9B | $391.0M |
总债务PANWRCL
| Q1 26 | — | $21.3B | ||
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B |
股东权益PANWRCL
| Q1 26 | $9.4B | $10.2B | ||
| Q4 25 | $8.7B | $10.0B | ||
| Q3 25 | $7.8B | $10.1B | ||
| Q2 25 | $7.2B | $9.2B | ||
| Q1 25 | $6.4B | $8.0B | ||
| Q4 24 | $5.9B | $7.6B | ||
| Q3 24 | $5.2B | $7.0B | ||
| Q2 24 | $4.5B | $6.0B |
总资产PANWRCL
| Q1 26 | $25.0B | $41.6B | ||
| Q4 25 | $23.5B | $41.6B | ||
| Q3 25 | $23.6B | $40.1B | ||
| Q2 25 | $22.0B | $38.5B | ||
| Q1 25 | $21.0B | $37.5B | ||
| Q4 24 | $20.4B | $37.1B | ||
| Q3 24 | $20.0B | $37.1B | ||
| Q2 24 | $17.9B | $37.0B |
负债/权益比PANWRCL
| Q1 26 | — | 2.08× | ||
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× |
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 | $6.5B |
| 自由现金流经营现金流 - 资本支出 | $384.0M | — |
| 自由现金流率自由现金流/营收 | 14.8% | — |
| 资本支出强度资本支出/营收 | 6.6% | — |
| 现金转化率经营现金流/净利润 | 1.28× | 8.48× |
| 过去12个月自由现金流最近4个季度 | $3.6B | — |
8季度趋势，按日历期对齐
经营现金流PANWRCL
| Q1 26 | $554.0M | $6.5B | ||
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | $1.0B | $1.5B | ||
| Q2 25 | $628.7M | $1.7B | ||
| Q1 25 | $556.9M | $1.6B | ||
| Q4 24 | $1.5B | $1.5B | ||
| Q3 24 | $512.7M | $897.0M | ||
| Q2 24 | $528.9M | $1.6B |
自由现金流PANWRCL
| Q1 26 | $384.0M | — | ||
| Q4 25 | $1.7B | $116.0M | ||
| Q3 25 | $934.5M | $-989.0M | ||
| Q2 25 | $560.4M | $910.0M | ||
| Q1 25 | $509.4M | $1.2B | ||
| Q4 24 | $1.5B | $915.0M | ||
| Q3 24 | $465.3M | $563.0M | ||
| Q2 24 | $491.5M | $-567.0M |
自由现金流率PANWRCL
| Q1 26 | 14.8% | — | ||
| Q4 25 | 68.2% | 2.7% | ||
| Q3 25 | 36.8% | -19.2% | ||
| Q2 25 | 24.5% | 20.1% | ||
| Q1 25 | 22.6% | 30.0% | ||
| Q4 24 | 68.5% | 24.3% | ||
| Q3 24 | 21.3% | 11.5% | ||
| Q2 24 | 24.8% | -13.8% |
资本支出强度PANWRCL
| Q1 26 | 6.6% | — | ||
| Q4 25 | 3.4% | 35.4% | ||
| Q3 25 | 3.4% | 47.8% | ||
| Q2 25 | 3.0% | 18.4% | ||
| Q1 25 | 2.1% | 10.7% | ||
| Q4 24 | 2.1% | 14.7% | ||
| Q3 24 | 2.2% | 6.8% | ||
| Q2 24 | 1.9% | 52.1% |
现金转化率PANWRCL
| Q1 26 | 1.28× | 8.48× | ||
| Q4 25 | 5.30× | 2.16× | ||
| Q3 25 | 4.02× | 0.93× | ||
| Q2 25 | 2.40× | 1.44× | ||
| Q1 25 | 2.08× | 2.23× | ||
| Q4 24 | 4.30× | 2.66× | ||
| Q3 24 | 1.43× | 0.81× | ||
| Q2 24 | 1.90× | 1.84× |
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% |
RCL
暂无分部数据
