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阿里巴巴集团控股有限公司（BABA）与Galaxy Digital Inc.（GLXY）财务数据对比。点击上方公司名可切换其他公司
阿里巴巴集团控股有限公司的季度营收约是Galaxy Digital Inc.的1.7倍（$38.8B vs $23.3B），阿里巴巴集团控股有限公司净利率更高（5.8% vs -3.3%，领先9.1%）
阿里巴巴集团控股有限公司是1999年6月28日于浙江杭州创立的中国跨国科技企业，核心业务覆盖电商、零售、互联网及科技领域，运营面向中国及全球市场的C2C、B2C、B2B交易平台，同时提供本地生活服务、数字媒体娱乐、物流、云计算等多元服务，服务全球海量消费者与企业客户。
Digital Chocolate是总部位于美国加州圣马特奥的电子游戏开发发行商，由艺电（EA）及3DO公司创始人特里普·霍金斯于2003年创立，主打Java ME功能机、iOS、Windows平台游戏，也推出过部分非娱乐类产品，品牌口号为「把握当下」。
BABA vs GLXY — 直观对比
营收规模更大
BABA
是对方的1.7倍
$23.3B
净利率更高
BABA
高出9.1%
-3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $38.8B | $23.3B |
| 净利润 | $2.2B | $-777.1M |
| 毛利率 | 40.2% | — |
| 营业利润率 | 6.6% | -3.7% |
| 净利率 | 5.8% | -3.3% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $6.64 | — |
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BABAGLXY
| Q4 25 | $38.8B | $23.3B | ||
| Q3 25 | $34.2B | $28.4B | ||
| Q2 25 | $32.6B | $8.6B | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $38.7B | — | ||
| Q3 24 | — | $8.5B | ||
| Q2 24 | — | $8.9B | ||
| Q1 24 | — | $0 |
净利润BABAGLXY
| Q4 25 | $2.2B | $-777.1M | ||
| Q3 25 | $2.9B | $505.1M | ||
| Q2 25 | $1.7B | $30.7M | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $6.8B | — | ||
| Q3 24 | — | $-33.3M | ||
| Q2 24 | — | $-125.6M | ||
| Q1 24 | — | $-1.0K |
毛利率BABAGLXY
| Q4 25 | 40.2% | — | ||
| Q3 25 | 39.2% | — | ||
| Q2 25 | 38.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 42.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率BABAGLXY
| Q4 25 | 6.6% | -3.7% | ||
| Q3 25 | 2.2% | 1.9% | ||
| Q2 25 | 12.0% | 0.5% | ||
| Q1 25 | — | — | ||
| Q4 24 | 14.7% | — | ||
| Q3 24 | — | -0.5% | ||
| Q2 24 | — | -1.6% | ||
| Q1 24 | — | — |
净利率BABAGLXY
| Q4 25 | 5.8% | -3.3% | ||
| Q3 25 | 8.5% | 1.8% | ||
| Q2 25 | 5.3% | 0.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | — |
每股收益（稀释后）BABAGLXY
| Q4 25 | $6.64 | — | ||
| Q3 25 | $8.72 | — | ||
| Q2 25 | $5.20 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $20.40 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $18.3B | $2.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $148.7B | $2.0B |
| 总资产 | $268.6B | $11.3B |
| 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BABAGLXY
| Q4 25 | $18.3B | $2.0B | ||
| Q3 25 | $19.0B | $2.0B | ||
| Q2 25 | $20.0B | $1.4B | ||
| Q1 25 | — | $1.0K | ||
| Q4 24 | $22.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益BABAGLXY
| Q4 25 | $148.7B | $2.0B | ||
| Q3 25 | $145.0B | $1.8B | ||
| Q2 25 | $139.2B | $1.5B | ||
| Q1 25 | — | $1.0K | ||
| Q4 24 | $137.2B | — | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.0K |
总资产BABAGLXY
| Q4 25 | $268.6B | $11.3B | ||
| Q3 25 | $264.6B | $11.5B | ||
| Q2 25 | $248.6B | $9.1B | ||
| Q1 25 | — | $1.0K | ||
| Q4 24 | $254.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $5.2B | $-1.1B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | 2.31× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BABAGLXY
| Q4 25 | $5.2B | $-1.1B | ||
| Q3 25 | $1.4B | $427.7M | ||
| Q2 25 | $3.8B | $329.3M | ||
| Q1 25 | — | $0 | ||
| Q4 24 | $9.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-1.0K |
自由现金流BABAGLXY
| Q4 25 | — | — | ||
| Q3 25 | — | $189.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率BABAGLXY
| Q4 25 | — | — | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度BABAGLXY
| Q4 25 | — | — | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率BABAGLXY
| Q4 25 | 2.31× | — | ||
| Q3 25 | 0.49× | 0.85× | ||
| Q2 25 | 2.19× | 10.73× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
BABA
| Alibaba China E-commerce Group | $22.8B | 59% |
| All others | $9.6B | 25% |
| Cloud Intelligence Group | $6.2B | 16% |
GLXY
| Other | $13.0B | 56% |
| Digital Assets Sales | $10.2B | 44% |
| Blockchain Rewards | $57.0M | 0% |
| Fee | $27.4M | 0% |
| Blockchain Rewards From Non Customers | $1.7M | 0% |
