Cell-free wireless communication is envisioned as one of the most promising network architectures, which can achieve stable and uniform communication performance while improving the system energy and spectrum efficiency. The deployment of cell-free networks is envisioned to be a longterm evolutionary process, in which cell-free access points (APs) will be gradually introduced into the communication network and collaborate with the existing cellular base stations (BSs). To further explore the performance limits of hybrid cellular and cell-free networks, this paper develops a hybrid network model based on stochastic geometric toolkits, which reveals the coupling of the signal and interference from both the cellular and cell-free networks. Specifically, the conjugate beamforming is applied in hybrid cellular and cell-free networks, which enables user equipment (UE) to benefit from both cellular BSs and cell-free APs. The aggregate signal received from the hybrid network is approximated via moment matching, and coverage probability is characterized by deriving the Laplace transform of the interference. The analysis of signal strength and coverage probability is verified by extensive simulations.