vs
Maplebear Inc.（CART）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Maplebear Inc.的1.4倍（$1.4B vs $992.0M），Maplebear Inc.净利率更高（8.2% vs -22.3%，领先30.5%），罗布乐思同比增速更快（43.2% vs 12.3%），罗布乐思自由现金流更多（$308.6M vs $171.0M），过去两年罗布乐思的营收复合增速更高（32.9% vs 10.0%）
Maplebear Inc. 以Instacart为品牌开展业务，是总部位于美国旧金山的零售媒体及配送企业，在美国和加拿大运营生鲜杂货配送与自提服务。用户可通过官网及移动应用从合作商户订购食品杂货，在法律允许的地区还可选购酒类商品，所有订单由专属采购专员负责拣选、打包并配送上门。
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。
CART vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.4倍
$992.0M
营收增速更快
RBLX
高出30.8%
12.3%
净利率更高
CART
高出30.5%
-22.3%
自由现金流更多
RBLX
多$137.6M
$171.0M
两年增速更快
RBLX
近两年复合增速
10.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $992.0M | $1.4B |
| 净利润 | $81.0M | $-316.0M |
| 毛利率 | 72.3% | 77.7% |
| 营业利润率 | 9.9% | -25.3% |
| 净利率 | 8.2% | -22.3% |
| 营收同比 | 12.3% | 43.2% |
| 净利润同比 | -45.3% | -43.9% |
| 每股收益（稀释后） | $0.31 | $-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CARTRBLX
| Q4 25 | $992.0M | $1.4B | ||
| Q3 25 | $939.0M | $1.4B | ||
| Q2 25 | $914.0M | $1.1B | ||
| Q1 25 | $897.0M | $1.0B | ||
| Q4 24 | $883.0M | $988.2M | ||
| Q3 24 | $852.0M | $919.0M | ||
| Q2 24 | $823.0M | $893.5M | ||
| Q1 24 | $820.0M | $801.3M |
净利润CARTRBLX
| Q4 25 | $81.0M | $-316.0M | ||
| Q3 25 | $144.0M | $-255.6M | ||
| Q2 25 | $116.0M | $-278.4M | ||
| Q1 25 | $106.0M | $-215.1M | ||
| Q4 24 | $148.0M | $-219.6M | ||
| Q3 24 | $118.0M | $-239.3M | ||
| Q2 24 | $61.0M | $-205.9M | ||
| Q1 24 | $130.0M | $-270.6M |
毛利率CARTRBLX
| Q4 25 | 72.3% | 77.7% | ||
| Q3 25 | 73.7% | 78.2% | ||
| Q2 25 | 74.2% | 78.2% | ||
| Q1 25 | 74.8% | 78.3% | ||
| Q4 24 | 75.2% | 77.9% | ||
| Q3 24 | 75.2% | 77.7% | ||
| Q2 24 | 75.7% | 77.8% | ||
| Q1 24 | 74.9% | 77.7% |
营业利润率CARTRBLX
| Q4 25 | 9.9% | -25.3% | ||
| Q3 25 | 17.7% | -21.8% | ||
| Q2 25 | 13.6% | -29.8% | ||
| Q1 25 | 12.3% | -24.6% | ||
| Q4 24 | 17.6% | -24.7% | ||
| Q3 24 | 16.2% | -30.4% | ||
| Q2 24 | 6.3% | -26.6% | ||
| Q1 24 | 17.6% | -37.7% |
净利率CARTRBLX
| Q4 25 | 8.2% | -22.3% | ||
| Q3 25 | 15.3% | -18.8% | ||
| Q2 25 | 12.7% | -25.8% | ||
| Q1 25 | 11.8% | -20.8% | ||
| Q4 24 | 16.8% | -22.2% | ||
| Q3 24 | 13.8% | -26.0% | ||
| Q2 24 | 7.4% | -23.0% | ||
| Q1 24 | 15.9% | -33.8% |
每股收益（稀释后）CARTRBLX
| Q4 25 | $0.31 | $-0.44 | ||
| Q3 25 | $0.51 | $-0.37 | ||
| Q2 25 | $0.41 | $-0.41 | ||
| Q1 25 | $0.37 | $-0.32 | ||
| Q4 24 | $0.53 | $-0.32 | ||
| Q3 24 | $0.42 | $-0.37 | ||
| Q2 24 | $0.20 | $-0.32 | ||
| Q1 24 | $0.43 | $-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 | $687.0M | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $2.5B | $394.5M |
| 总资产 | $3.7B | $9.6B |
| 负债/权益比越低杠杆越低 | — | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资CARTRBLX
| Q4 25 | $687.0M | $3.1B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.6B | $2.6B | ||
| Q1 25 | $1.6B | $2.7B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.3B | $2.3B | ||
| Q2 24 | $1.4B | $2.4B | ||
| Q1 24 | $1.5B | $2.4B |
总债务CARTRBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CARTRBLX
| Q4 25 | $2.5B | $394.5M | ||
| Q3 25 | $3.5B | $407.6M | ||
| Q2 25 | $3.3B | $353.2M | ||
| Q1 25 | $3.2B | $310.7M | ||
| Q4 24 | $3.1B | $221.4M | ||
| Q3 24 | $2.9B | $189.9M | ||
| Q2 24 | $3.0B | $121.5M | ||
| Q1 24 | $3.1B | $71.6M |
总资产CARTRBLX
| Q4 25 | $3.7B | $9.6B | ||
| Q3 25 | $4.5B | $8.6B | ||
| Q2 25 | $4.4B | $7.8B | ||
| Q1 25 | $4.3B | $7.5B | ||
| Q4 24 | $4.1B | $7.2B | ||
| Q3 24 | $3.9B | $6.7B | ||
| Q2 24 | $4.0B | $6.5B | ||
| Q1 24 | $4.1B | $6.3B |
负债/权益比CARTRBLX
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.48× | ||
| 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 | $183.0M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $171.0M | $308.6M |
| 自由现金流率自由现金流/营收 | 17.2% | 21.8% |
| 资本支出强度资本支出/营收 | 1.2% | 21.1% |
| 现金转化率经营现金流/净利润 | 2.26× | — |
| 过去12个月自由现金流最近4个季度 | $910.0M | $1.4B |
8季度趋势，按日历期对齐
经营现金流CARTRBLX
| Q4 25 | $183.0M | $607.0M | ||
| Q3 25 | $287.0M | $546.2M | ||
| Q2 25 | $203.0M | $199.3M | ||
| Q1 25 | $298.0M | $443.9M | ||
| Q4 24 | $153.0M | $184.5M | ||
| Q3 24 | $185.0M | $247.4M | ||
| Q2 24 | $244.0M | $151.4M | ||
| Q1 24 | $105.0M | $238.9M |
自由现金流CARTRBLX
| Q4 25 | $171.0M | $308.6M | ||
| Q3 25 | $272.0M | $443.6M | ||
| Q2 25 | $187.0M | $176.7M | ||
| Q1 25 | $280.0M | $426.5M | ||
| Q4 24 | $141.0M | $120.6M | ||
| Q3 24 | $171.0M | $218.0M | ||
| Q2 24 | $220.0M | $111.7M | ||
| Q1 24 | $91.0M | $192.3M |
自由现金流率CARTRBLX
| Q4 25 | 17.2% | 21.8% | ||
| Q3 25 | 29.0% | 32.6% | ||
| Q2 25 | 20.5% | 16.3% | ||
| Q1 25 | 31.2% | 41.2% | ||
| Q4 24 | 16.0% | 12.2% | ||
| Q3 24 | 20.1% | 23.7% | ||
| Q2 24 | 26.7% | 12.5% | ||
| Q1 24 | 11.1% | 24.0% |
资本支出强度CARTRBLX
| Q4 25 | 1.2% | 21.1% | ||
| Q3 25 | 1.6% | 7.5% | ||
| Q2 25 | 1.8% | 2.1% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | 1.4% | 6.5% | ||
| Q3 24 | 1.6% | 3.2% | ||
| Q2 24 | 2.9% | 4.4% | ||
| Q1 24 | 1.7% | 5.8% |
现金转化率CARTRBLX
| Q4 25 | 2.26× | — | ||
| Q3 25 | 1.99× | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 2.81× | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 0.81× | — |
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
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
RBLX
暂无分部数据
