Cloudflare, Inc. (NET)财务
NYSE · Technology · Software - Infrastructure · 员工5,156人 · CEO Matthew Prince
- 股价
- $280.70 -9.54%
- 市值
- $1000亿
- 企业价值
- $1020亿
- 最近财报
- Q2 '26 2026-08-06提交
- 下次财报
- 2026-11-05 EPS预期 $0.34
营收(TTM)$25.1亿+33.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-14.1%-4.2 百分点 对比去年同期营业利润 -$3.54亿
净利润(TTM)-$2.06亿-76.2% 对比去年同期税后,含营业外收益
自由现金流(TTM)$3.79亿+111.3% 对比去年同期资本支出 $3.19亿
稀释EPS(TTM)-$0.58-72.9% 对比去年同期最近4个季度之和
净现金$6.33亿+27.3% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1000亿 EV $1020亿
- 营收
- $25.1亿 过去12个月
- 营收增速
- +32% FY2026年一致预期
- 净利润率
- -8.2% 净利润 / 营收,TTM
- P/E
- -481.4× 预期 222.5×(FY2026)
- P/S
- 39.8× 股价 / 营收,TTM
- EV / EBITDA
- 2,632.6× TTM
- 自由现金流
- $3.79亿 过去12个月
- 净利润
- -$2.06亿 过去12个月
- 营收预期
- $28.7亿 FY2026年一致预期
- 盈利
- 2026-11-05 营收预期 $7.37亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-06):营收超预期4.7%,EPS 超预期8.0%营收$6.96亿,预期$6.65亿(+4.7%);EPS $0.29,预期$0.27(+8.0%)。
- 营收增长加速:同比35.9%Q2 '26营收$6.96亿,此前四个季度的平均值为31.4%。
- 营业利润率-14.1%(TTM),较去年同期-4.2 百分点营收增长33.5%,营业利润增长-90.5%。
- 资本支出占营收的12.7%(去年为15.9%)最近4个季度投入$3.19亿(同比+6.7%)。自由现金流$3.79亿。
- 股东回报$2950万 = 自由现金流的7.8%回购$2950万(去年为$0),股息$0,股权激励$5.08亿(TTM)。
- 稀释股数一年内增加2.0%Q2 '26稀释股数3.54亿,一年前为3.47亿。
- 净现金 $6.33亿现金 + 短期投资 $41.6亿,含租赁债务 $35.3亿;一年前净现金 $4.98亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $6.96亿 | $5.12亿 | +35.9% |
| 毛利率 | 71.8% | 74.9% | -3.1 百分点 |
| 营业利润 | -$2.06亿 | -$6730万 | -205.8% |
| 营业利润率 | -29.6% | -13.1% | -16.4 百分点 |
| 净利润 | -$1.7亿 | -$5040万 | -237.0% |
| 稀释EPS | -$0.48 | -$0.15 | -230.6% |
| 经营现金流 | $1.18亿 | $9980万 | +17.8% |
| 资本支出 | $6120万 | $6650万 | -8.0% |
| 自由现金流 | $5640万 | $3330万 | +69.4% |
| R&D | $1.59亿 | $1.35亿 | +18.5% |
| 股权激励费用 | $1.6亿 | $1.22亿 | +30.6% |
实际 vs 一致预期
2026-08-06| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $6.96亿 | $6.65亿 | +4.7% |
| EPS(一致预期口径) | $0.29 | $0.27 | +8.0% |
来自2026-08-06发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Reportable Segment | $6.96亿 | +35.9% | 100.0% | $25.1亿 | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $3.54亿 | +40.7% | 50.9% | $12.6亿 | +34.7% | |
| EMEA | $1.87亿 | +30.4% | 26.9% | $6.84亿 | +29.7% | |
| Asia Pacific | $9940万 | +32.3% | 14.3% | $3.79亿 | +39.5% | |
| Other Geographical Regions | $5510万 | +31.8% | 7.9% | $1.92亿 | +29.0% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $6.97亿
- 资本支出
- -$3.19亿
- 股票回购
- -$2950万
- 股息
- $0
- 收购
- -$1.26亿
- 债务净发行
- -$6490万
- 股权激励费用
- $5.08亿
- 自由现金流
- $3.79亿
- 股东回报 / FCF
- 7.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -481.4× | – | – |
| EV / EBITDA | 2,632.6× | 644.5× 5年中的2年 | 613.7× – 675.3× |
| EV / 营收 | 40.5× | 31.8× | 16.5× – 64.1× |
| 股价 / FCF | 264.0× | 210.8× 5年中的3年 | 188.2× – 232.5× |
| 股价 / 净资产 | 61.4× | 38.5× | 23.6× – 50.3× |
| FCF收益率 | 0.4% | 0.2% | -0.3% – 0.5% |
| 投入资本回报率 | -6.8% | -6.7% | -9.0% – -4.1% |
| 净资产收益率 | -13.9% | -20.3% | -31.9% – -7.0% |
分析师
一致目标价 $336.29 (+19.8%)
区间 $160.00 – $430.00 · 评级 Buy
强烈买入0
买入29
持有10
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $28.7亿 | +32.3% | $1.26 | +535.0% | 222.5× | 18 |
| FY2027 | $36.8亿 | +28.4% | $1.68 | +32.8% | 167.5× | 18 |
| FY2028 | $46.8亿 | +27.1% | $2.30 | +37.1% | 122.2× | 6 |
| FY2029 | $57亿 | +21.7% | $3.36 | +46.5% | 83.5× | 3 |
| FY2030 | $69.9亿 | +22.7% | $4.31 | +28.1% | 65.1× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Cloudflare, Inc.在近期10-Q / 10-K文件中标记的全部236项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $1.27亿 | $9570万 | +32.8% | $8410万 | $1.06亿 | -20.5% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $4.23亿 | $3.08亿 | +37.5% | $3.82亿 | $3.17亿 | +20.8% |
| Accounts Receivable, Allowance for Credit Loss, Current | $790万 | $730万 | +8.2% | $708万 | $817万 | -13.3% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $190万 | $550万 | -65.5% | $1610万 | $725万 | +121.9% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $366万 | $454万 | -19.5% | $1500万 | $1000万 | +49.3% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $587万 | $562万 | +4.6% | $2990万 | $4210万 | -29.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $4.75亿 | $3.53亿 | +34.4% | $3.79亿 | $2.8亿 | +35.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1020万 | $1660万 | -161.5% | $1230万 | -$425万 | +388.2% |
| Additional Paid in Capital | $30.3亿 | $24.1亿 | +25.4% | $26.5亿 | $21.5亿 | +23.2% |
| Advertising Expense | – | – | – | $9520万 | $7860万 | +21.1% |
| Amortization of Debt Issuance Costs | $244万 | $120万 | +103.4% | $707万 | $396万 | +78.6% |
| Amortization of Debt Issuance Costs and Discounts | $244万2025-09-30 | $99万 | +146.6% | $452万2023-12-31 | $466万 | -3.0% |
| Amortization of Intangible Assets | $740万 | $370万 | +100.0% | $1500万 | $1270万 | +18.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2950万 | 3420万 | -13.8% | 3090万 | 2730万 | +13.4% |
| AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax | -$660万 | $350万 | -288.6% | $700万 | $260万 | +169.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.63亿 | $1.25亿 | +30.1% | $4.63亿 | $3.5亿 | +32.2% |
| Assets | $64.7亿 | $55.6亿 | +16.4% | $60.4亿 | $33亿 | +82.9% |
| Assets, Current | $47.8亿 | $44.1亿 | +8.5% | $46.4亿 | $22.7亿 | +104.7% |
| Capital Expenditures Incurred but Not yet Paid | $5050万 | $506万 | +898.1% | $2640万 | $5720万 | -54.0% |
| Capitalized Contract Cost, Amortization | $3250万 | $2420万 | +34.5% | $1.02亿 | $7780万 | +30.6% |
| Capitalized Contract Cost, Impairment Loss | $0 | $0 | – | $0 | $0 | – |
| Capitalized Contract Cost, Net, Noncurrent | $2.41亿 | $1.84亿 | +30.8% | $2.19亿 | $1.72亿 | +27.5% |
| Cash and Cash Equivalents, at Carrying Value | $16.6亿 | $15.2亿 | +9.6% | $9.44亿 | $1.48亿 | +538.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $16.8亿 | $15.3亿 | +9.9% | $9.54亿 | $1.54亿 | +518.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $7.32亿 | $13.1亿 | -44.3% | $8亿 | $6300万 | +1,170.3% |
| Common Stock, Capital Shares Reserved for Future Issuance | 1.6亿 | 1.46亿 | +9.8% | 1.42亿 | 1.17亿 | +21.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$1.74亿 | -$3750万 | -365.5% | -$8580万 | -$8500万 | -0.8% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $2720万 | $2130万 | +27.8% | $2350万 | $1660万 | +42.0% |
| Contract with Customer, Liability, Current | $8.12亿 | $5.47亿 | +48.6% | $6.84亿 | $4.78亿 | +43.2% |
| Contract with Customer, Liability, Noncurrent | $4030万 | $3580万 | +12.4% | $4110万 | $2210万 | +86.0% |
| Contract with Customer, Liability, Revenue Recognized | $1.74亿 | $1.15亿 | +52.0% | $4.68亿 | $3.53亿 | +32.3% |
| Contractual Obligation | $2.55亿2025-12-31 | $3.01亿 | -15.4% | $2.55亿 | $3.01亿 | -15.4% |
| Contractual Obligation, to be Paid, after Year Five | $387万2025-12-31 | $695万 | -44.3% | $387万 | $695万 | -44.3% |
| Contractual Obligation, to be Paid, Year Five | $1190万2025-12-31 | $855万 | +39.5% | $1190万 | $855万 | +39.5% |
| Contractual Obligation, to be Paid, Year Four | $2100万2025-12-31 | $1790万 | +17.3% | $2100万 | $1790万 | +17.3% |
| Contractual Obligation, to be Paid, Year One | $1.02亿2025-12-31 | $1.21亿 | -16.1% | $1.02亿 | $1.21亿 | -16.1% |
| Contractual Obligation, to be Paid, Year Three | $4050万2025-12-31 | $3800万 | +6.8% | $4050万 | $3800万 | +6.8% |
| Contractual Obligation, to be Paid, Year Two | $7590万2025-12-31 | $1.09亿 | -30.1% | $7590万 | $1.09亿 | -30.1% |
| Convertible Debt, Current | $12.9亿 | – | – | $12.9亿 | $0 | – |
| Convertible Debt, Noncurrent | $19.8亿 | $32.6亿 | -39.4% | $19.7亿 | $12.9亿 | +53.4% |
| Cost of Revenue | $1.97亿 | $1.29亿 | +52.7% | $5.53亿 | $3.79亿 | +45.9% |
| Current Federal Tax Expense (Benefit) | – | – | – | $301万 | $168万 | +79.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $491万 | $400万 | +22.9% |
| Current Income Tax Expense (Benefit) | – | – | – | $823万 | $582万 | +41.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $30.8万 | $14.2万 | +116.9% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $17.3亿 | $14.9亿 | +15.9% | $19.8亿 | $11.4亿 | +73.4% |
| Debt Securities, Available-for-sale, Current | $25亿 | $24.4亿 | +2.4% | $31.6亿 | $17.1亿 | +84.9% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$150万 | -$121万 | -24.7% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $340万 | $355万 | -4.3% |
| Deferred Income Tax Expense (Benefit) | -$621万 | -$32.4万 | -1,817.6% | $133万 | $211万 | -36.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$56.3万 | -$23.5万 | -139.6% |
| Deferred Tax Assets, Gross | $9.67亿2025-12-31 | $7.29亿 | +32.8% | $9.67亿 | $7.29亿 | +32.8% |
| Deferred Tax Assets, in Process Research and Development | $1.89亿2025-12-31 | $1.1亿 | +72.6% | $1.89亿 | $1.1亿 | +72.6% |
| Deferred Tax Assets, Net of Valuation Allowance | $1.45亿2025-12-31 | $9790万 | +48.2% | $1.45亿 | $9790万 | +48.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $5.19亿2025-12-31 | $4.43亿 | +17.3% | $5.19亿 | $4.43亿 | +17.3% |
| Deferred Tax Assets, Other | $1010万2025-12-31 | $154万 | +557.9% | $1010万 | $154万 | +557.9% |
| Deferred Tax Assets, Tax Credit Carryforwards | $9250万2025-12-31 | $7490万 | +23.6% | $9250万 | $7490万 | +23.6% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $4370万2025-12-31 | $4210万 | +3.9% | $4370万 | $4210万 | +3.9% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $655万2025-12-31 | $581万 | +12.7% | $655万 | $581万 | +12.7% |
| Deferred Tax Assets, Valuation Allowance | $8.22亿2025-12-31 | $6.31亿 | +30.4% | $8.22亿 | $6.31亿 | +30.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01