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Cboe Global Markets（CBOE）与罗克韦尔自动化（ROK）财务数据对比。点击上方公司名可切换其他公司
罗克韦尔自动化的季度营收约是Cboe Global Markets的1.7倍（$2.1B vs $1.2B），Cboe Global Markets净利率更高（26.0% vs 14.5%，领先11.5%），罗克韦尔自动化同比增速更快（11.9% vs 8.7%），Cboe Global Markets自由现金流更多（$332.1M vs $170.0M），过去两年Cboe Global Markets的营收复合增速更高（12.2% vs -0.5%）
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。
罗克韦尔自动化是总部位于美国威斯康星州密尔沃基的工业自动化及数字化转型技术提供商，旗下拥有Allen-Bradley、FactoryTalk软件、LifecycleIQ服务等核心品牌，全球员工约2.7万人，服务覆盖100多个国家和地区的客户。
CBOE vs ROK — 直观对比
营收规模更大
ROK
是对方的1.7倍
$1.2B
营收增速更快
ROK
高出3.2%
8.7%
净利率更高
CBOE
高出11.5%
14.5%
自由现金流更多
CBOE
多$162.1M
$170.0M
两年增速更快
CBOE
近两年复合增速
-0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $2.1B |
| 净利润 | $313.5M | $305.0M |
| 毛利率 | 55.7% | 48.3% |
| 营业利润率 | 33.5% | 20.7% |
| 净利率 | 26.0% | 14.5% |
| 营收同比 | 8.7% | 11.9% |
| 净利润同比 | 59.5% | 65.8% |
| 每股收益（稀释后） | $2.97 | $2.69 |
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CBOEROK
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.1B | $2.3B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $2.0B | ||
| Q4 24 | $1.1B | $1.9B | ||
| Q3 24 | $1.1B | $2.0B | ||
| Q2 24 | $974.0M | $2.1B | ||
| Q1 24 | $957.2M | $2.1B |
净利润CBOEROK
| Q4 25 | $313.5M | $305.0M | ||
| Q3 25 | $300.8M | $138.0M | ||
| Q2 25 | $235.1M | $295.0M | ||
| Q1 25 | $250.6M | $252.0M | ||
| Q4 24 | $196.5M | $184.0M | ||
| Q3 24 | $218.5M | $239.1M | ||
| Q2 24 | $140.4M | $232.0M | ||
| Q1 24 | $209.5M | $266.2M |
毛利率CBOEROK
| Q4 25 | 55.7% | 48.3% | ||
| Q3 25 | 53.0% | 69.4% | ||
| Q2 25 | 50.0% | 40.9% | ||
| Q1 25 | 47.3% | 40.5% | ||
| Q4 24 | 47.4% | 38.4% | ||
| Q3 24 | 50.4% | 37.9% | ||
| Q2 24 | 52.8% | 38.8% | ||
| Q1 24 | 52.5% | 39.2% |
营业利润率CBOEROK
| Q4 25 | 33.5% | 20.7% | ||
| Q3 25 | 32.4% | 2.7% | ||
| Q2 25 | 28.9% | 16.0% | ||
| Q1 25 | 29.6% | 14.9% | ||
| Q4 24 | 27.0% | 17.1% | ||
| Q3 24 | 29.1% | 13.5% | ||
| Q2 24 | 21.6% | 12.4% | ||
| Q1 24 | 29.5% | 14.6% |
净利率CBOEROK
| Q4 25 | 26.0% | 14.5% | ||
| Q3 25 | 26.3% | 6.0% | ||
| Q2 25 | 20.0% | 13.8% | ||
| Q1 25 | 21.0% | 12.6% | ||
| Q4 24 | 17.7% | 9.8% | ||
| Q3 24 | 20.7% | 11.7% | ||
| Q2 24 | 14.4% | 11.3% | ||
| Q1 24 | 21.9% | 12.5% |
每股收益（稀释后）CBOEROK
| Q4 25 | $2.97 | $2.69 | ||
| Q3 25 | $2.85 | $1.24 | ||
| Q2 25 | $2.23 | $2.60 | ||
| Q1 25 | $2.37 | $2.22 | ||
| Q4 24 | $1.85 | $1.61 | ||
| Q3 24 | $2.07 | $2.09 | ||
| Q2 24 | $1.33 | $2.02 | ||
| Q1 24 | $1.96 | $2.31 |
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 | $444.0M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $5.1B | $3.7B |
| 总资产 | $9.3B | $11.2B |
| 负债/权益比越低杠杆越低 | 0.28× | — |
8季度趋势，按日历期对齐
现金及短期投资CBOEROK
| Q4 25 | $2.3B | $444.0M | ||
| Q3 25 | $1.5B | $468.0M | ||
| Q2 25 | $1.5B | $495.0M | ||
| Q1 25 | $1.2B | $456.0M | ||
| Q4 24 | $1.0B | $477.0M | ||
| Q3 24 | $763.2M | $471.3M | ||
| Q2 24 | $698.3M | $407.0M | ||
| Q1 24 | $595.1M | $470.5M |
总债务CBOEROK
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $2.6B | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
股东权益CBOEROK
| Q4 25 | $5.1B | $3.7B | ||
| Q3 25 | $4.9B | $3.7B | ||
| Q2 25 | $4.7B | $3.5B | ||
| Q1 25 | $4.5B | $3.4B | ||
| Q4 24 | $4.3B | $3.4B | ||
| Q3 24 | $4.2B | $3.5B | ||
| Q2 24 | $4.0B | $3.3B | ||
| Q1 24 | $4.0B | $3.5B |
总资产CBOEROK
| Q4 25 | $9.3B | $11.2B | ||
| Q3 25 | $9.1B | $11.2B | ||
| Q2 25 | $9.0B | $11.2B | ||
| Q1 25 | $8.7B | $11.0B | ||
| Q4 24 | $7.8B | $10.9B | ||
| Q3 24 | $8.7B | $11.2B | ||
| Q2 24 | $9.3B | $11.2B | ||
| Q1 24 | $8.2B | $11.4B |
负债/权益比CBOEROK
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | 0.72× | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.34× | 0.73× | ||
| 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 | $234.0M |
| 自由现金流经营现金流 - 资本支出 | $332.1M | $170.0M |
| 自由现金流率自由现金流/营收 | 27.6% | 8.1% |
| 资本支出强度资本支出/营收 | 1.7% | 3.0% |
| 现金转化率经营现金流/净利润 | 1.12× | 0.77× |
| 过去12个月自由现金流最近4个季度 | $1.7B | — |
8季度趋势，按日历期对齐
经营现金流CBOEROK
| Q4 25 | $352.1M | $234.0M | ||
| Q3 25 | $153.9M | $454.0M | ||
| Q2 25 | $333.7M | $527.0M | ||
| Q1 25 | $912.9M | $199.0M | ||
| Q4 24 | $-710.4M | $364.0M | ||
| Q3 24 | $-578.5M | $432.3M | ||
| Q2 24 | $1.5B | $279.1M | ||
| Q1 24 | $895.6M | $119.8M |
自由现金流CBOEROK
| Q4 25 | $332.1M | $170.0M | ||
| Q3 25 | $137.9M | — | ||
| Q2 25 | $313.4M | $489.0M | ||
| Q1 25 | $898.2M | $171.0M | ||
| Q4 24 | $-734.2M | $293.0M | ||
| Q3 24 | $-590.5M | — | ||
| Q2 24 | $1.5B | $238.4M | ||
| Q1 24 | $888.3M | $68.6M |
自由现金流率CBOEROK
| Q4 25 | 27.6% | 8.1% | ||
| Q3 25 | 12.1% | — | ||
| Q2 25 | 26.7% | 22.8% | ||
| Q1 25 | 75.2% | 8.5% | ||
| Q4 24 | -66.3% | 15.6% | ||
| Q3 24 | -55.9% | — | ||
| Q2 24 | 151.6% | 11.6% | ||
| Q1 24 | 92.8% | 3.2% |
资本支出强度CBOEROK
| Q4 25 | 1.7% | 3.0% | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.7% | 1.8% | ||
| Q1 25 | 1.2% | 1.4% | ||
| Q4 24 | 2.1% | 3.8% | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.8% | 2.0% | ||
| Q1 24 | 0.8% | 2.4% |
现金转化率CBOEROK
| Q4 25 | 1.12× | 0.77× | ||
| Q3 25 | 0.51× | 3.29× | ||
| Q2 25 | 1.42× | 1.79× | ||
| Q1 25 | 3.64× | 0.79× | ||
| Q4 24 | -3.62× | 1.98× | ||
| Q3 24 | -2.65× | 1.81× | ||
| Q2 24 | 10.64× | 1.20× | ||
| Q1 24 | 4.27× | 0.45× |
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% |
ROK
| Productsand Solutions | $1.9B | 89% |
| Lifecycle Services Segment | $259.0M | 12% |
