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ADT Inc.（ADT）与罗布乐思（RBLX）财务数据对比。点击上方公司名可切换其他公司
罗布乐思的季度营收约是ADT Inc.的1.1倍（$1.4B vs $1.3B），ADT Inc.净利率更高（11.4% vs -22.3%，领先33.7%），罗布乐思同比增速更快（43.2% vs 2.9%），ADT Inc.自由现金流更多（$323.5M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 2.7%）
ADT Inc.是美国头部安防企业，总部位于佛罗里达州博卡拉顿，业务覆盖美国与加拿大，为住宅、小型商户提供电子安防、消防防护及相关报警监控服务。公司2016年被阿波罗全球管理以69亿美元杠杆收购，2018年1月于纽约证券交易所上市。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
ADT vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.1倍
$1.3B
营收增速更快
RBLX
高出40.3%
2.9%
净利率更高
ADT
高出33.7%
-22.3%
自由现金流更多
ADT
多$14.9M
$308.6M
两年增速更快
RBLX
近两年复合增速
2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $145.4M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 26.1% | -25.3% |
| 净利率 | 11.4% | -22.3% |
| 营收同比 | 2.9% | 43.2% |
| 净利润同比 | -23.5% | -43.9% |
| 每股收益（稀释后） | — | $-0.44 |
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ADTRBLX
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.3B | $1.4B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $1.2B | $988.2M | ||
| Q3 24 | $1.2B | $919.0M | ||
| Q2 24 | $1.2B | $893.5M | ||
| Q1 24 | $1.2B | $801.3M |
净利润ADTRBLX
| Q4 25 | $145.4M | $-316.0M | ||
| Q3 25 | $145.1M | $-255.6M | ||
| Q2 25 | $165.2M | $-278.4M | ||
| Q1 25 | $140.2M | $-215.1M | ||
| Q4 24 | $190.0M | $-219.6M | ||
| Q3 24 | $127.2M | $-239.3M | ||
| Q2 24 | $92.4M | $-205.9M | ||
| Q1 24 | $91.6M | $-270.6M |
毛利率ADTRBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.9% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.7% |
营业利润率ADTRBLX
| Q4 25 | 26.1% | -25.3% | ||
| Q3 25 | 24.3% | -21.8% | ||
| Q2 25 | 26.6% | -29.8% | ||
| Q1 25 | 25.2% | -24.6% | ||
| Q4 24 | 32.4% | -24.7% | ||
| Q3 24 | 26.2% | -30.4% | ||
| Q2 24 | 23.6% | -26.6% | ||
| Q1 24 | 16.2% | -37.7% |
净利率ADTRBLX
| Q4 25 | 11.4% | -22.3% | ||
| Q3 25 | 11.2% | -18.8% | ||
| Q2 25 | 12.8% | -25.8% | ||
| Q1 25 | 11.1% | -20.8% | ||
| Q4 24 | 15.3% | -22.2% | ||
| Q3 24 | 10.2% | -26.0% | ||
| Q2 24 | 7.7% | -23.0% | ||
| Q1 24 | 7.6% | -33.8% |
每股收益（稀释后）ADTRBLX
| Q4 25 | — | $-0.44 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | — | $-0.41 | ||
| Q1 25 | — | $-0.32 | ||
| Q4 24 | — | $-0.32 | ||
| Q3 24 | — | $-0.37 | ||
| Q2 24 | — | $-0.32 | ||
| Q1 24 | — | $-0.43 |
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 | $80.8M | $3.1B |
| 总债务越低越好 | $7.4B | $1.2B |
| 股东权益账面价值 | $3.8B | $394.5M |
| 总资产 | $15.8B | $9.6B |
| 负债/权益比越低杠杆越低 | 1.95× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资ADTRBLX
| Q4 25 | $80.8M | $3.1B | ||
| Q3 25 | $62.8M | $2.9B | ||
| Q2 25 | $45.2M | $2.6B | ||
| Q1 25 | $3.7M | $2.7B | ||
| Q4 24 | $96.2M | $2.4B | ||
| Q3 24 | $95.3M | $2.3B | ||
| Q2 24 | $37.9M | $2.4B | ||
| Q1 24 | $4.0M | $2.4B |
总债务ADTRBLX
| Q4 25 | $7.4B | $1.2B | ||
| Q3 25 | $7.3B | — | ||
| Q2 25 | $6.8B | — | ||
| Q1 25 | $7.6B | — | ||
| Q4 24 | $7.5B | $1.2B | ||
| Q3 24 | $7.5B | — | ||
| Q2 24 | $7.5B | — | ||
| Q1 24 | $7.6B | — |
股东权益ADTRBLX
| Q4 25 | $3.8B | $394.5M | ||
| Q3 25 | $3.7B | $407.6M | ||
| Q2 25 | $3.7B | $353.2M | ||
| Q1 25 | $3.6B | $310.7M | ||
| Q4 24 | $3.8B | $221.4M | ||
| Q3 24 | $3.9B | $189.9M | ||
| Q2 24 | $3.8B | $121.5M | ||
| Q1 24 | $3.7B | $71.6M |
总资产ADTRBLX
| Q4 25 | $15.8B | $9.6B | ||
| Q3 25 | $16.0B | $8.6B | ||
| Q2 25 | $16.0B | $7.8B | ||
| Q1 25 | $15.8B | $7.5B | ||
| Q4 24 | $16.1B | $7.2B | ||
| Q3 24 | $16.1B | $6.7B | ||
| Q2 24 | $16.0B | $6.5B | ||
| Q1 24 | $15.9B | $6.3B |
负债/权益比ADTRBLX
| Q4 25 | 1.95× | 2.98× | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.84× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.98× | 5.48× | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.03× | — |
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 | $373.6M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $323.5M | $308.6M |
| 自由现金流率自由现金流/营收 | 25.4% | 21.8% |
| 资本支出强度资本支出/营收 | 3.9% | 21.1% |
| 现金转化率经营现金流/净利润 | 2.57× | — |
| 过去12个月自由现金流最近4个季度 | $1.7B | $1.4B |
8季度趋势，按日历期对齐
经营现金流ADTRBLX
| Q4 25 | $373.6M | $607.0M | ||
| Q3 25 | $480.1M | $546.2M | ||
| Q2 25 | $563.9M | $199.3M | ||
| Q1 25 | $466.6M | $443.9M | ||
| Q4 24 | $459.7M | $184.5M | ||
| Q3 24 | $498.2M | $247.4M | ||
| Q2 24 | $563.2M | $151.4M | ||
| Q1 24 | $363.8M | $238.9M |
自由现金流ADTRBLX
| Q4 25 | $323.5M | $308.6M | ||
| Q3 25 | $437.4M | $443.6M | ||
| Q2 25 | $526.3M | $176.7M | ||
| Q1 25 | $421.2M | $426.5M | ||
| Q4 24 | $426.0M | $120.6M | ||
| Q3 24 | $455.5M | $218.0M | ||
| Q2 24 | $516.5M | $111.7M | ||
| Q1 24 | $323.1M | $192.3M |
自由现金流率ADTRBLX
| Q4 25 | 25.4% | 21.8% | ||
| Q3 25 | 33.7% | 32.6% | ||
| Q2 25 | 40.9% | 16.3% | ||
| Q1 25 | 33.2% | 41.2% | ||
| Q4 24 | 34.3% | 12.2% | ||
| Q3 24 | 36.6% | 23.7% | ||
| Q2 24 | 42.9% | 12.5% | ||
| Q1 24 | 26.7% | 24.0% |
资本支出强度ADTRBLX
| Q4 25 | 3.9% | 21.1% | ||
| Q3 25 | 3.3% | 7.5% | ||
| Q2 25 | 2.9% | 2.1% | ||
| Q1 25 | 3.6% | 1.7% | ||
| Q4 24 | 2.7% | 6.5% | ||
| Q3 24 | 3.4% | 3.2% | ||
| Q2 24 | 3.9% | 4.4% | ||
| Q1 24 | 3.4% | 5.8% |
现金转化率ADTRBLX
| Q4 25 | 2.57× | — | ||
| Q3 25 | 3.31× | — | ||
| Q2 25 | 3.41× | — | ||
| Q1 25 | 3.33× | — | ||
| Q4 24 | 2.42× | — | ||
| Q3 24 | 3.92× | — | ||
| Q2 24 | 6.10× | — | ||
| Q1 24 | 3.97× | — |
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
ADT
| Recurring Monthly Revenue | $1.0B | 82% |
| Installation Revenue | $103.0M | 8% |
| Other | $89.9M | 7% |
| Other Related Services | $36.0M | 3% |
RBLX
暂无分部数据
