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Ares Management Corp（ARES）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
Ares Management Corp的季度营收约是ROKU, INC的1.2倍（$1.5B vs $1.2B），Ares Management Corp净利率更高（3.6% vs -2.2%，领先5.8%），Ares Management Corp同比增速更快（19.5% vs -18.3%），过去两年Ares Management Corp的营收复合增速更高（45.9% vs 13.6%）
Ares Management Corp是一家全球知名的另类投资管理机构，业务覆盖信贷、私募股权及房地产三大投资领域。公司成立于1997年，在北美、欧洲、亚洲多地设有分支机构，为全球客户提供专业的另类资产管理服务。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
ARES vs ROKU — 直观对比
营收规模更大
ARES
是对方的1.2倍
$1.2B
营收增速更快
ARES
高出37.8%
-18.3%
净利率更高
ARES
高出5.8%
-2.2%
两年增速更快
ARES
近两年复合增速
13.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $54.2M | $-27.4M |
| 毛利率 | — | 35.6% |
| 营业利润率 | 13.7% | 59.7% |
| 净利率 | 3.6% | -2.2% |
| 营收同比 | 19.5% | -18.3% |
| 净利润同比 | -69.4% | -361.0% |
| 每股收益（稀释后） | — | $0.57 |
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ARESROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $788.7M | $968.2M |
净利润ARESROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $54.2M | $80.5M | ||
| Q3 25 | $288.9M | $24.8M | ||
| Q2 25 | $137.1M | $10.5M | ||
| Q1 25 | $47.2M | $-27.4M | ||
| Q4 24 | $177.3M | $-35.5M | ||
| Q3 24 | $118.5M | $-9.0M | ||
| Q2 24 | $94.9M | $-34.0M |
毛利率ARESROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.9% |
营业利润率ARESROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 13.7% | 4.7% | ||
| Q3 25 | 39.3% | 0.8% | ||
| Q2 25 | 21.3% | -2.1% | ||
| Q1 25 | 13.0% | -5.7% | ||
| Q4 24 | 31.8% | -3.3% | ||
| Q3 24 | 29.0% | -3.4% | ||
| Q2 24 | 40.2% | -7.4% |
净利率ARESROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 3.6% | 5.8% | ||
| Q3 25 | 17.4% | 2.0% | ||
| Q2 25 | 10.2% | 0.9% | ||
| Q1 25 | 4.3% | -2.7% | ||
| Q4 24 | 14.1% | -3.0% | ||
| Q3 24 | 10.5% | -0.9% | ||
| Q2 24 | 12.0% | -3.5% |
每股收益（稀释后）ARESROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-0.24 |
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 | — | $2.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $4.3B | $2.7B |
| 总资产 | $28.6B | $4.4B |
| 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ARESROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B |
股东权益ARESROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $4.3B | $2.7B | ||
| Q3 25 | $4.5B | $2.6B | ||
| Q2 25 | $4.4B | $2.6B | ||
| Q1 25 | $4.5B | $2.5B | ||
| Q4 24 | $3.5B | $2.5B | ||
| Q3 24 | $2.1B | $2.5B | ||
| Q2 24 | $2.0B | $2.4B |
总资产ARESROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $28.6B | $4.4B | ||
| Q3 25 | $27.0B | $4.4B | ||
| Q2 25 | $27.3B | $4.3B | ||
| Q1 25 | $27.2B | $4.2B | ||
| Q4 24 | $24.9B | $4.3B | ||
| Q3 24 | $24.5B | $4.3B | ||
| Q2 24 | $24.2B | $4.1B |
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 | $-483.7M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | — | $298.4M |
| 自由现金流率自由现金流/营收 | — | 23.9% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | -8.92× | — |
| 过去12个月自由现金流最近4个季度 | — | $640.0M |
8季度趋势，按日历期对齐
经营现金流ARESROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $-483.7M | $107.7M | ||
| Q3 25 | $1.3B | $127.6M | ||
| Q2 25 | $415.7M | $109.7M | ||
| Q1 25 | $2.0B | $138.7M | ||
| Q4 24 | $807.6M | $79.3M | ||
| Q3 24 | $841.3M | $68.7M | ||
| Q2 24 | $432.2M | $23.4M |
自由现金流ARESROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | — | $106.6M | ||
| Q3 25 | — | $126.5M | ||
| Q2 25 | — | $108.6M | ||
| Q1 25 | — | $136.8M | ||
| Q4 24 | — | $76.8M | ||
| Q3 24 | — | $67.6M | ||
| Q2 24 | — | $22.5M |
自由现金流率ARESROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 2.3% |
资本支出强度ARESROKU
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% |
现金转化率ARESROKU
| Q1 26 | — | — | ||
| Q4 25 | -8.92× | 1.34× | ||
| Q3 25 | 4.64× | 5.14× | ||
| Q2 25 | 3.03× | 10.45× | ||
| Q1 25 | 42.28× | — | ||
| Q4 24 | 4.55× | — | ||
| Q3 24 | 7.10× | — | ||
| Q2 24 | 4.55× | — |
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
ARES
| Management Service | $991.1M | 66% |
| Management Service Incentive | $206.7M | 14% |
| Carried Interest | $205.4M | 14% |
| Fee Related Performance Revenues | $113.3M | 8% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
