vs
凯雷集团（CG）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
凯雷集团的季度营收约是罗布乐思的1.3倍（$1.9B vs $1.4B），凯雷集团净利率更高（18.8% vs -22.3%，领先41.2%），凯雷集团同比增速更快（84.1% vs 43.2%），罗布乐思自由现金流更多（$308.6M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs 32.9%）
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
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。
CG vs RBLX — 直观对比
营收规模更大
CG
是对方的1.3倍
$1.4B
营收增速更快
CG
高出40.9%
43.2%
净利率更高
CG
高出41.2%
-22.3%
自由现金流更多
RBLX
多$1.5B
$-1.2B
两年增速更快
CG
近两年复合增速
32.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.4B |
| 净利润 | $358.1M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 24.3% | -25.3% |
| 净利率 | 18.8% | -22.3% |
| 营收同比 | 84.1% | 43.2% |
| 净利润同比 | 69.8% | -43.9% |
| 每股收益（稀释后） | $0.96 | $-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CGRBLX
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $332.7M | $1.4B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $973.1M | $1.0B | ||
| Q4 24 | $1.0B | $988.2M | ||
| Q3 24 | $2.6B | $919.0M | ||
| Q2 24 | $1.1B | $893.5M | ||
| Q1 24 | $688.4M | $801.3M |
净利润CGRBLX
| Q4 25 | $358.1M | $-316.0M | ||
| Q3 25 | $900.0K | $-255.6M | ||
| Q2 25 | $319.7M | $-278.4M | ||
| Q1 25 | $130.0M | $-215.1M | ||
| Q4 24 | $210.9M | $-219.6M | ||
| Q3 24 | $595.7M | $-239.3M | ||
| Q2 24 | $148.2M | $-205.9M | ||
| Q1 24 | $65.6M | $-270.6M |
毛利率CGRBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.9% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.7% |
营业利润率CGRBLX
| Q4 25 | 24.3% | -25.3% | ||
| Q3 25 | 25.8% | -21.8% | ||
| Q2 25 | 28.0% | -29.8% | ||
| Q1 25 | 17.6% | -24.6% | ||
| Q4 24 | 25.7% | -24.7% | ||
| Q3 24 | 29.9% | -30.4% | ||
| Q2 24 | 20.5% | -26.6% | ||
| Q1 24 | 17.5% | -37.7% |
净利率CGRBLX
| Q4 25 | 18.8% | -22.3% | ||
| Q3 25 | 0.3% | -18.8% | ||
| Q2 25 | 20.3% | -25.8% | ||
| Q1 25 | 13.4% | -20.8% | ||
| Q4 24 | 20.4% | -22.2% | ||
| Q3 24 | 22.6% | -26.0% | ||
| Q2 24 | 13.9% | -23.0% | ||
| Q1 24 | 9.5% | -33.8% |
每股收益（稀释后）CGRBLX
| Q4 25 | $0.96 | $-0.44 | ||
| Q3 25 | $0.00 | $-0.37 | ||
| Q2 25 | $0.87 | $-0.41 | ||
| Q1 25 | $0.35 | $-0.32 | ||
| Q4 24 | $0.56 | $-0.32 | ||
| Q3 24 | $1.63 | $-0.37 | ||
| Q2 24 | $0.40 | $-0.32 | ||
| Q1 24 | $0.18 | $-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 | $2.0B | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $7.1B | $394.5M |
| 总资产 | $29.1B | $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CGRBLX
| Q4 25 | $2.0B | $3.1B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $1.3B | $2.6B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $914.8M | $2.4B | ||
| Q1 24 | $1.3B | $2.4B |
总债务CGRBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CGRBLX
| Q4 25 | $7.1B | $394.5M | ||
| Q3 25 | $6.8B | $407.6M | ||
| Q2 25 | $6.7B | $353.2M | ||
| Q1 25 | $6.4B | $310.7M | ||
| Q4 24 | $6.3B | $221.4M | ||
| Q3 24 | $6.3B | $189.9M | ||
| Q2 24 | $5.7B | $121.5M | ||
| Q1 24 | $5.7B | $71.6M |
总资产CGRBLX
| Q4 25 | $29.1B | $9.6B | ||
| Q3 25 | $27.1B | $8.6B | ||
| Q2 25 | $25.1B | $7.8B | ||
| Q1 25 | $24.1B | $7.5B | ||
| Q4 24 | $23.1B | $7.2B | ||
| Q3 24 | $22.7B | $6.7B | ||
| Q2 24 | $22.3B | $6.5B | ||
| Q1 24 | $20.8B | $6.3B |
负债/权益比CGRBLX
| 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 | $-1.2B | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $308.6M |
| 自由现金流率自由现金流/营收 | -65.1% | 21.8% |
| 资本支出强度资本支出/营收 | 2.2% | 21.1% |
| 现金转化率经营现金流/净利润 | -3.34× | — |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $1.4B |
8季度趋势，按日历期对齐
经营现金流CGRBLX
| Q4 25 | $-1.2B | $607.0M | ||
| Q3 25 | $-1.6B | $546.2M | ||
| Q2 25 | $-168.8M | $199.3M | ||
| Q1 25 | $-352.1M | $443.9M | ||
| Q4 24 | $-352.8M | $184.5M | ||
| Q3 24 | $791.9M | $247.4M | ||
| Q2 24 | $-1.3B | $151.4M | ||
| Q1 24 | $71.1M | $238.9M |
自由现金流CGRBLX
| Q4 25 | $-1.2B | $308.6M | ||
| Q3 25 | $-1.6B | $443.6M | ||
| Q2 25 | $-186.3M | $176.7M | ||
| Q1 25 | $-368.8M | $426.5M | ||
| Q4 24 | $-379.5M | $120.6M | ||
| Q3 24 | $772.8M | $218.0M | ||
| Q2 24 | $-1.3B | $111.7M | ||
| Q1 24 | $56.9M | $192.3M |
自由现金流率CGRBLX
| Q4 25 | -65.1% | 21.8% | ||
| Q3 25 | -475.7% | 32.6% | ||
| Q2 25 | -11.8% | 16.3% | ||
| Q1 25 | -37.9% | 41.2% | ||
| Q4 24 | -36.8% | 12.2% | ||
| Q3 24 | 29.3% | 23.7% | ||
| Q2 24 | -120.4% | 12.5% | ||
| Q1 24 | 8.3% | 24.0% |
资本支出强度CGRBLX
| Q4 25 | 2.2% | 21.1% | ||
| Q3 25 | 7.0% | 7.5% | ||
| Q2 25 | 1.1% | 2.1% | ||
| Q1 25 | 1.7% | 1.7% | ||
| Q4 24 | 2.6% | 6.5% | ||
| Q3 24 | 0.7% | 3.2% | ||
| Q2 24 | 1.7% | 4.4% | ||
| Q1 24 | 2.1% | 5.8% |
现金转化率CGRBLX
| Q4 25 | -3.34× | — | ||
| Q3 25 | -1732.78× | — | ||
| Q2 25 | -0.53× | — | ||
| Q1 25 | -2.71× | — | ||
| Q4 24 | -1.67× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | -8.57× | — | ||
| Q1 24 | 1.08× | — |
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
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
RBLX
暂无分部数据
