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凯雷集团（CG）与ROKU, INC（ROKU）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ROKU, INC的1.5倍（$1.9B vs $1.2B），凯雷集团净利率更高（18.8% vs -2.2%，领先21.0%），凯雷集团同比增速更快（84.1% vs -18.3%），ROKU, INC自由现金流更多（$298.4M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs 13.6%）
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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
CG vs ROKU — 直观对比
营收规模更大
CG
是对方的1.5倍
$1.2B
营收增速更快
CG
高出102.4%
-18.3%
净利率更高
CG
高出21.0%
-2.2%
自由现金流更多
ROKU
多$1.5B
$-1.2B
两年增速更快
CG
近两年复合增速
13.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.2B |
| 净利润 | $358.1M | $-27.4M |
| 毛利率 | — | 35.6% |
| 营业利润率 | 24.3% | 59.7% |
| 净利率 | 18.8% | -2.2% |
| 营收同比 | 84.1% | -18.3% |
| 净利润同比 | 69.8% | -361.0% |
| 每股收益（稀释后） | $0.96 | $0.57 |
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CGROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $332.7M | $1.2B | ||
| Q2 25 | $1.6B | $1.1B | ||
| Q1 25 | $973.1M | $1.0B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $2.6B | $1.1B | ||
| Q2 24 | $1.1B | $968.2M |
净利润CGROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $358.1M | $80.5M | ||
| Q3 25 | $900.0K | $24.8M | ||
| Q2 25 | $319.7M | $10.5M | ||
| Q1 25 | $130.0M | $-27.4M | ||
| Q4 24 | $210.9M | $-35.5M | ||
| Q3 24 | $595.7M | $-9.0M | ||
| Q2 24 | $148.2M | $-34.0M |
毛利率CGROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.9% |
营业利润率CGROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 24.3% | 4.7% | ||
| Q3 25 | 25.8% | 0.8% | ||
| Q2 25 | 28.0% | -2.1% | ||
| Q1 25 | 17.6% | -5.7% | ||
| Q4 24 | 25.7% | -3.3% | ||
| Q3 24 | 29.9% | -3.4% | ||
| Q2 24 | 20.5% | -7.4% |
净利率CGROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 18.8% | 5.8% | ||
| Q3 25 | 0.3% | 2.0% | ||
| Q2 25 | 20.3% | 0.9% | ||
| Q1 25 | 13.4% | -2.7% | ||
| Q4 24 | 20.4% | -3.0% | ||
| Q3 24 | 22.6% | -0.9% | ||
| Q2 24 | 13.9% | -3.5% |
每股收益（稀释后）CGROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $0.96 | $0.55 | ||
| Q3 25 | $0.00 | $0.16 | ||
| Q2 25 | $0.87 | $0.07 | ||
| Q1 25 | $0.35 | $-0.19 | ||
| Q4 24 | $0.56 | $-0.24 | ||
| Q3 24 | $1.63 | $-0.06 | ||
| Q2 24 | $0.40 | $-0.24 |
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 | $2.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.1B | $2.7B |
| 总资产 | $29.1B | $4.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CGROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $2.0B | $2.3B | ||
| Q3 25 | $2.2B | $2.3B | ||
| Q2 25 | $1.3B | $2.3B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.3B | $2.2B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $914.8M | $2.1B |
股东权益CGROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $7.1B | $2.7B | ||
| Q3 25 | $6.8B | $2.6B | ||
| Q2 25 | $6.7B | $2.6B | ||
| Q1 25 | $6.4B | $2.5B | ||
| Q4 24 | $6.3B | $2.5B | ||
| Q3 24 | $6.3B | $2.5B | ||
| Q2 24 | $5.7B | $2.4B |
总资产CGROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $29.1B | $4.4B | ||
| Q3 25 | $27.1B | $4.4B | ||
| Q2 25 | $25.1B | $4.3B | ||
| Q1 25 | $24.1B | $4.2B | ||
| Q4 24 | $23.1B | $4.3B | ||
| Q3 24 | $22.7B | $4.3B | ||
| Q2 24 | $22.3B | $4.1B |
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 | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $298.4M |
| 自由现金流率自由现金流/营收 | -65.1% | 23.9% |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 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 | $640.0M |
8季度趋势，按日历期对齐
经营现金流CGROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $-1.2B | $107.7M | ||
| Q3 25 | $-1.6B | $127.6M | ||
| Q2 25 | $-168.8M | $109.7M | ||
| Q1 25 | $-352.1M | $138.7M | ||
| Q4 24 | $-352.8M | $79.3M | ||
| Q3 24 | $791.9M | $68.7M | ||
| Q2 24 | $-1.3B | $23.4M |
自由现金流CGROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $-1.2B | $106.6M | ||
| Q3 25 | $-1.6B | $126.5M | ||
| Q2 25 | $-186.3M | $108.6M | ||
| Q1 25 | $-368.8M | $136.8M | ||
| Q4 24 | $-379.5M | $76.8M | ||
| Q3 24 | $772.8M | $67.6M | ||
| Q2 24 | $-1.3B | $22.5M |
自由现金流率CGROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | -65.1% | 7.6% | ||
| Q3 25 | -475.7% | 10.4% | ||
| Q2 25 | -11.8% | 9.8% | ||
| Q1 25 | -37.9% | 13.4% | ||
| Q4 24 | -36.8% | 6.4% | ||
| Q3 24 | 29.3% | 6.4% | ||
| Q2 24 | -120.4% | 2.3% |
资本支出强度CGROKU
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 0.1% | ||
| Q3 25 | 7.0% | 0.1% | ||
| Q2 25 | 1.1% | 0.1% | ||
| Q1 25 | 1.7% | 0.2% | ||
| Q4 24 | 2.6% | 0.2% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 1.7% | 0.1% |
现金转化率CGROKU
| Q1 26 | — | — | ||
| Q4 25 | -3.34× | 1.34× | ||
| Q3 25 | -1732.78× | 5.14× | ||
| Q2 25 | -0.53× | 10.45× | ||
| Q1 25 | -2.71× | — | ||
| Q4 24 | -1.67× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | -8.57× | — |
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% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
