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BLACKLINE, INC.（BL）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
BLACKLINE, INC.的季度营收约是Rocket Lab Corp的1.0倍（$183.2M vs $179.7M），BLACKLINE, INC.净利率更高（2.7% vs -29.5%，领先32.1%），Rocket Lab Corp同比增速更快（35.7% vs 8.1%），BLACKLINE, INC.自由现金流更多（$26.1M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 7.9%）
BlackLine是一家美国企业级软件公司，总部位于洛杉矶，在全球设有17个办事处，专注于开发云服务，可实现财务结账全流程自动化与管理，同时覆盖财务合并、发票到回款流程及公司间会计核算等业务场景。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
BL vs RKLB — 直观对比
营收规模更大
BL
是对方的1.0倍
$179.7M
营收增速更快
RKLB
高出27.6%
8.1%
净利率更高
BL
高出32.1%
-29.5%
自由现金流更多
BL
多$140.2M
$-114.2M
两年增速更快
RKLB
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $183.2M | $179.7M |
| 净利润 | $4.9M | $-52.9M |
| 毛利率 | 75.2% | 38.0% |
| 营业利润率 | 3.7% | -28.4% |
| 净利率 | 2.7% | -29.5% |
| 营收同比 | 8.1% | 35.7% |
| 净利润同比 | -91.3% | -1.1% |
| 每股收益（稀释后） | $0.07 | $-0.09 |
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BLRKLB
| Q4 25 | $183.2M | $179.7M | ||
| Q3 25 | $178.3M | $155.1M | ||
| Q2 25 | $172.0M | $144.5M | ||
| Q1 25 | $166.9M | $122.6M | ||
| Q4 24 | $169.5M | $132.4M | ||
| Q3 24 | $165.9M | $104.8M | ||
| Q2 24 | $160.5M | $106.3M | ||
| Q1 24 | $157.5M | $92.8M |
净利润BLRKLB
| Q4 25 | $4.9M | $-52.9M | ||
| Q3 25 | $5.3M | $-18.3M | ||
| Q2 25 | $8.3M | $-66.4M | ||
| Q1 25 | $6.1M | $-60.6M | ||
| Q4 24 | $56.4M | $-52.3M | ||
| Q3 24 | $17.2M | $-51.9M | ||
| Q2 24 | $76.7M | $-41.6M | ||
| Q1 24 | $10.8M | $-44.3M |
毛利率BLRKLB
| Q4 25 | 75.2% | 38.0% | ||
| Q3 25 | 75.1% | 37.0% | ||
| Q2 25 | 75.2% | 32.1% | ||
| Q1 25 | 75.5% | 28.8% | ||
| Q4 24 | 75.6% | 27.8% | ||
| Q3 24 | 75.2% | 26.7% | ||
| Q2 24 | 74.9% | 25.6% | ||
| Q1 24 | 75.2% | 26.1% |
营业利润率BLRKLB
| Q4 25 | 3.7% | -28.4% | ||
| Q3 25 | 4.3% | -38.0% | ||
| Q2 25 | 4.4% | -41.3% | ||
| Q1 25 | 2.1% | -48.3% | ||
| Q4 24 | 3.7% | -38.9% | ||
| Q3 24 | 5.0% | -49.5% | ||
| Q2 24 | 1.4% | -40.7% | ||
| Q1 24 | 1.1% | -46.4% |
净利率BLRKLB
| Q4 25 | 2.7% | -29.5% | ||
| Q3 25 | 3.0% | -11.8% | ||
| Q2 25 | 4.8% | -46.0% | ||
| Q1 25 | 3.6% | -49.5% | ||
| Q4 24 | 33.3% | -39.5% | ||
| Q3 24 | 10.4% | -49.6% | ||
| Q2 24 | 47.8% | -39.2% | ||
| Q1 24 | 6.9% | -47.7% |
每股收益（稀释后）BLRKLB
| Q4 25 | $0.07 | $-0.09 | ||
| Q3 25 | $0.09 | $-0.03 | ||
| Q2 25 | $0.13 | $-0.13 | ||
| Q1 25 | $0.10 | $-0.12 | ||
| Q4 24 | $0.79 | $-0.11 | ||
| Q3 24 | $0.27 | $-0.10 | ||
| Q2 24 | $0.22 | $-0.08 | ||
| Q1 24 | $0.17 | $-0.09 |
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 | $390.0M | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $332.3M | $1.7B |
| 总资产 | $1.8B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资BLRKLB
| Q4 25 | $390.0M | $1.0B | ||
| Q3 25 | $419.9M | $976.7M | ||
| Q2 25 | $459.1M | $688.1M | ||
| Q1 25 | $479.5M | $428.4M | ||
| Q4 24 | $885.9M | $419.0M | ||
| Q3 24 | $725.3M | $442.4M | ||
| Q2 24 | $616.6M | $496.8M | ||
| Q1 24 | $331.4M | $492.5M |
总债务BLRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益BLRKLB
| Q4 25 | $332.3M | $1.7B | ||
| Q3 25 | $328.3M | $1.3B | ||
| Q2 25 | $414.0M | $688.5M | ||
| Q1 25 | $417.9M | $431.3M | ||
| Q4 24 | $446.7M | $382.5M | ||
| Q3 24 | $367.9M | $419.8M | ||
| Q2 24 | $325.8M | $455.2M | ||
| Q1 24 | $279.8M | $478.9M |
总资产BLRKLB
| Q4 25 | $1.8B | $2.3B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.7B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $2.1B | $1.2B |
负债/权益比BLRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $26.7M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $26.1M | $-114.2M |
| 自由现金流率自由现金流/营收 | 14.2% | -63.6% |
| 资本支出强度资本支出/营收 | 0.3% | 27.6% |
| 现金转化率经营现金流/净利润 | 5.46× | — |
| 过去12个月自由现金流最近4个季度 | $161.5M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流BLRKLB
| Q4 25 | $26.7M | $-64.5M | ||
| Q3 25 | $63.8M | $-23.5M | ||
| Q2 25 | $32.3M | $-23.2M | ||
| Q1 25 | $46.7M | $-54.2M | ||
| Q4 24 | $43.8M | $-2.4M | ||
| Q3 24 | $55.9M | $-30.9M | ||
| Q2 24 | $40.7M | $-13.0M | ||
| Q1 24 | $50.4M | $-2.6M |
自由现金流BLRKLB
| Q4 25 | $26.1M | $-114.2M | ||
| Q3 25 | $63.3M | $-69.4M | ||
| Q2 25 | $31.4M | $-55.3M | ||
| Q1 25 | $40.8M | $-82.9M | ||
| Q4 24 | $43.0M | $-23.9M | ||
| Q3 24 | $55.5M | $-41.9M | ||
| Q2 24 | $40.0M | $-28.3M | ||
| Q1 24 | $50.1M | $-21.8M |
自由现金流率BLRKLB
| Q4 25 | 14.2% | -63.6% | ||
| Q3 25 | 35.5% | -44.8% | ||
| Q2 25 | 18.2% | -38.3% | ||
| Q1 25 | 24.4% | -67.6% | ||
| Q4 24 | 25.4% | -18.1% | ||
| Q3 24 | 33.5% | -40.0% | ||
| Q2 24 | 24.9% | -26.7% | ||
| Q1 24 | 31.8% | -23.5% |
资本支出强度BLRKLB
| Q4 25 | 0.3% | 27.6% | ||
| Q3 25 | 0.3% | 29.6% | ||
| Q2 25 | 0.6% | 22.2% | ||
| Q1 25 | 3.6% | 23.4% | ||
| Q4 24 | 0.4% | 16.3% | ||
| Q3 24 | 0.2% | 10.5% | ||
| Q2 24 | 0.4% | 14.4% | ||
| Q1 24 | 0.2% | 20.7% |
现金转化率BLRKLB
| Q4 25 | 5.46× | — | ||
| Q3 25 | 12.07× | — | ||
| Q2 25 | 3.90× | — | ||
| Q1 25 | 7.72× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 3.24× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 4.66× | — |
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
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
