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Cboe Global Markets（CBOE）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Cboe Global Markets的1.2倍（$1.4B vs $1.2B），Cboe Global Markets净利率更高（26.0% vs -22.3%，领先48.4%），罗布乐思同比增速更快（43.2% vs 8.7%），Cboe Global Markets自由现金流更多（$332.1M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 12.2%）
Cboe Global Markets是总部位于美国芝加哥的金融交易所运营集团，旗下拥有并运营多类交易所及交易场所，业务覆盖股票、期权、期货、数字资产等多个交易领域，为全球市场参与者提供专业交易服务支持。
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。
CBOE vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.2倍
$1.2B
营收增速更快
RBLX
高出34.5%
8.7%
净利率更高
CBOE
高出48.4%
-22.3%
自由现金流更多
CBOE
多$23.5M
$308.6M
两年增速更快
RBLX
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $313.5M | $-316.0M |
| 毛利率 | 55.7% | 77.7% |
| 营业利润率 | 33.5% | -25.3% |
| 净利率 | 26.0% | -22.3% |
| 营收同比 | 8.7% | 43.2% |
| 净利润同比 | 59.5% | -43.9% |
| 每股收益（稀释后） | $2.97 | $-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CBOERBLX
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.1B | $988.2M | ||
| Q3 24 | $1.1B | $919.0M | ||
| Q2 24 | $974.0M | $893.5M | ||
| Q1 24 | $957.2M | $801.3M |
净利润CBOERBLX
| Q4 25 | $313.5M | $-316.0M | ||
| Q3 25 | $300.8M | $-255.6M | ||
| Q2 25 | $235.1M | $-278.4M | ||
| Q1 25 | $250.6M | $-215.1M | ||
| Q4 24 | $196.5M | $-219.6M | ||
| Q3 24 | $218.5M | $-239.3M | ||
| Q2 24 | $140.4M | $-205.9M | ||
| Q1 24 | $209.5M | $-270.6M |
毛利率CBOERBLX
| Q4 25 | 55.7% | 77.7% | ||
| Q3 25 | 53.0% | 78.2% | ||
| Q2 25 | 50.0% | 78.2% | ||
| Q1 25 | 47.3% | 78.3% | ||
| Q4 24 | 47.4% | 77.9% | ||
| Q3 24 | 50.4% | 77.7% | ||
| Q2 24 | 52.8% | 77.8% | ||
| Q1 24 | 52.5% | 77.7% |
营业利润率CBOERBLX
| Q4 25 | 33.5% | -25.3% | ||
| Q3 25 | 32.4% | -21.8% | ||
| Q2 25 | 28.9% | -29.8% | ||
| Q1 25 | 29.6% | -24.6% | ||
| Q4 24 | 27.0% | -24.7% | ||
| Q3 24 | 29.1% | -30.4% | ||
| Q2 24 | 21.6% | -26.6% | ||
| Q1 24 | 29.5% | -37.7% |
净利率CBOERBLX
| Q4 25 | 26.0% | -22.3% | ||
| Q3 25 | 26.3% | -18.8% | ||
| Q2 25 | 20.0% | -25.8% | ||
| Q1 25 | 21.0% | -20.8% | ||
| Q4 24 | 17.7% | -22.2% | ||
| Q3 24 | 20.7% | -26.0% | ||
| Q2 24 | 14.4% | -23.0% | ||
| Q1 24 | 21.9% | -33.8% |
每股收益（稀释后）CBOERBLX
| Q4 25 | $2.97 | $-0.44 | ||
| Q3 25 | $2.85 | $-0.37 | ||
| Q2 25 | $2.23 | $-0.41 | ||
| Q1 25 | $2.37 | $-0.32 | ||
| Q4 24 | $1.85 | $-0.32 | ||
| Q3 24 | $2.07 | $-0.37 | ||
| Q2 24 | $1.33 | $-0.32 | ||
| Q1 24 | $1.96 | $-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 | $2.3B | $3.1B |
| 总债务越低越好 | $1.4B | $1.2B |
| 股东权益账面价值 | $5.1B | $394.5M |
| 总资产 | $9.3B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.28× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资CBOERBLX
| Q4 25 | $2.3B | $3.1B | ||
| Q3 25 | $1.5B | $2.9B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $763.2M | $2.3B | ||
| Q2 24 | $698.3M | $2.4B | ||
| Q1 24 | $595.1M | $2.4B |
总债务CBOERBLX
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益CBOERBLX
| Q4 25 | $5.1B | $394.5M | ||
| Q3 25 | $4.9B | $407.6M | ||
| Q2 25 | $4.7B | $353.2M | ||
| Q1 25 | $4.5B | $310.7M | ||
| Q4 24 | $4.3B | $221.4M | ||
| Q3 24 | $4.2B | $189.9M | ||
| Q2 24 | $4.0B | $121.5M | ||
| Q1 24 | $4.0B | $71.6M |
总资产CBOERBLX
| Q4 25 | $9.3B | $9.6B | ||
| Q3 25 | $9.1B | $8.6B | ||
| Q2 25 | $9.0B | $7.8B | ||
| Q1 25 | $8.7B | $7.5B | ||
| Q4 24 | $7.8B | $7.2B | ||
| Q3 24 | $8.7B | $6.7B | ||
| Q2 24 | $9.3B | $6.5B | ||
| Q1 24 | $8.2B | $6.3B |
负债/权益比CBOERBLX
| Q4 25 | 0.28× | 2.98× | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.34× | 5.48× | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | 0.36× | — |
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 | $352.1M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $332.1M | $308.6M |
| 自由现金流率自由现金流/营收 | 27.6% | 21.8% |
| 资本支出强度资本支出/营收 | 1.7% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.12× | — |
| 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CBOERBLX
| Q4 25 | $352.1M | $607.0M | ||
| Q3 25 | $153.9M | $546.2M | ||
| Q2 25 | $333.7M | $199.3M | ||
| Q1 25 | $912.9M | $443.9M | ||
| Q4 24 | $-710.4M | $184.5M | ||
| Q3 24 | $-578.5M | $247.4M | ||
| Q2 24 | $1.5B | $151.4M | ||
| Q1 24 | $895.6M | $238.9M |
自由现金流CBOERBLX
| Q4 25 | $332.1M | $308.6M | ||
| Q3 25 | $137.9M | $443.6M | ||
| Q2 25 | $313.4M | $176.7M | ||
| Q1 25 | $898.2M | $426.5M | ||
| Q4 24 | $-734.2M | $120.6M | ||
| Q3 24 | $-590.5M | $218.0M | ||
| Q2 24 | $1.5B | $111.7M | ||
| Q1 24 | $888.3M | $192.3M |
自由现金流率CBOERBLX
| Q4 25 | 27.6% | 21.8% | ||
| Q3 25 | 12.1% | 32.6% | ||
| Q2 25 | 26.7% | 16.3% | ||
| Q1 25 | 75.2% | 41.2% | ||
| Q4 24 | -66.3% | 12.2% | ||
| Q3 24 | -55.9% | 23.7% | ||
| Q2 24 | 151.6% | 12.5% | ||
| Q1 24 | 92.8% | 24.0% |
资本支出强度CBOERBLX
| Q4 25 | 1.7% | 21.1% | ||
| Q3 25 | 1.4% | 7.5% | ||
| Q2 25 | 1.7% | 2.1% | ||
| Q1 25 | 1.2% | 1.7% | ||
| Q4 24 | 2.1% | 6.5% | ||
| Q3 24 | 1.1% | 3.2% | ||
| Q2 24 | 1.8% | 4.4% | ||
| Q1 24 | 0.8% | 5.8% |
现金转化率CBOERBLX
| Q4 25 | 1.12× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 1.42× | — | ||
| Q1 25 | 3.64× | — | ||
| Q4 24 | -3.62× | — | ||
| Q3 24 | -2.65× | — | ||
| Q2 24 | 10.64× | — | ||
| Q1 24 | 4.27× | — |
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
CBOE
| Liquidity Payments | $443.6M | 37% |
| Cash And Spot Markets | $431.3M | 36% |
| Transferred Over Time | $84.3M | 7% |
| Market Data Fees | $82.7M | 7% |
| Royalty Fees | $68.9M | 6% |
| Futures | $36.1M | 3% |
| Global FX | $24.4M | 2% |
| Other Revenue | $23.1M | 2% |
| Routing And Clearing | $20.1M | 2% |
RBLX
暂无分部数据
