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COMMERCIAL METALS Co（CMC）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
COMMERCIAL METALS Co的季度营收约是罗布乐思的1.5倍（$2.1B vs $1.4B），COMMERCIAL METALS Co净利率更高（8.4% vs -22.3%，领先30.7%），罗布乐思同比增速更快（43.2% vs 11.0%），罗布乐思自由现金流更多（$308.6M vs $78.8M），过去两年罗布乐思的营收复合增速更高（32.9% vs 7.1%）
商业金属公司（CMC）总部位于美国得克萨斯州欧文市，主营钢筋及相关建筑材料，与纽柯公司同为美国房屋、桥梁、道路等基础设施领域混凝土加固用钢材的两大核心供应商，旗下还拥有地基系统生产商Tensar，产品可用于道路、公共基建及工业设施建设。
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。
CMC vs RBLX — 直观对比
营收规模更大
CMC
是对方的1.5倍
$1.4B
营收增速更快
RBLX
高出32.2%
11.0%
净利率更高
CMC
高出30.7%
-22.3%
自由现金流更多
RBLX
多$229.8M
$78.8M
两年增速更快
RBLX
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $177.3M | $-316.0M |
| 毛利率 | 19.2% | 77.7% |
| 营业利润率 | 8.6% | -25.3% |
| 净利率 | 8.4% | -22.3% |
| 营收同比 | 11.0% | 43.2% |
| 净利润同比 | 200.9% | -43.9% |
| 每股收益（稀释后） | $1.58 | $-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CMCRBLX
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.1B | $1.4B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $1.8B | $1.0B | ||
| Q4 24 | $1.9B | $988.2M | ||
| Q3 24 | $2.0B | $919.0M | ||
| Q2 24 | $2.1B | $893.5M | ||
| Q1 24 | $1.8B | $801.3M |
净利润CMCRBLX
| Q4 25 | $177.3M | $-316.0M | ||
| Q3 25 | $151.8M | $-255.6M | ||
| Q2 25 | $83.1M | $-278.4M | ||
| Q1 25 | $25.5M | $-215.1M | ||
| Q4 24 | $-175.7M | $-219.6M | ||
| Q3 24 | $103.9M | $-239.3M | ||
| Q2 24 | $119.4M | $-205.9M | ||
| Q1 24 | $85.8M | $-270.6M |
毛利率CMCRBLX
| Q4 25 | 19.2% | 77.7% | ||
| Q3 25 | 18.6% | 78.2% | ||
| Q2 25 | 14.8% | 78.2% | ||
| Q1 25 | 12.5% | 78.3% | ||
| Q4 24 | 16.1% | 77.9% | ||
| Q3 24 | 16.2% | 77.7% | ||
| Q2 24 | 16.4% | 77.8% | ||
| Q1 24 | 16.0% | 77.7% |
营业利润率CMCRBLX
| Q4 25 | 8.6% | -25.3% | ||
| Q3 25 | 9.1% | -21.8% | ||
| Q2 25 | 5.4% | -29.8% | ||
| Q1 25 | 2.1% | -24.6% | ||
| Q4 24 | -12.1% | -24.7% | ||
| Q3 24 | 6.7% | -30.4% | ||
| Q2 24 | 7.7% | -26.6% | ||
| Q1 24 | 6.3% | -37.7% |
净利率CMCRBLX
| Q4 25 | 8.4% | -22.3% | ||
| Q3 25 | 7.2% | -18.8% | ||
| Q2 25 | 4.1% | -25.8% | ||
| Q1 25 | 1.5% | -20.8% | ||
| Q4 24 | -9.2% | -22.2% | ||
| Q3 24 | 5.2% | -26.0% | ||
| Q2 24 | 5.7% | -23.0% | ||
| Q1 24 | 4.6% | -33.8% |
每股收益（稀释后）CMCRBLX
| Q4 25 | $1.58 | $-0.44 | ||
| Q3 25 | $1.33 | $-0.37 | ||
| Q2 25 | $0.73 | $-0.41 | ||
| Q1 25 | $0.22 | $-0.32 | ||
| Q4 24 | $-1.54 | $-0.32 | ||
| Q3 24 | $0.90 | $-0.37 | ||
| Q2 24 | $1.02 | $-0.32 | ||
| Q1 24 | $0.73 | $-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 | $1.0B | $3.1B |
| 总债务越低越好 | $3.3B | $1.2B |
| 股东权益账面价值 | $4.3B | $394.5M |
| 总资产 | $9.2B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.77× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资CMCRBLX
| Q4 25 | $1.0B | $3.1B | ||
| Q3 25 | $1.0B | $2.9B | ||
| Q2 25 | $893.0M | $2.6B | ||
| Q1 25 | $758.4M | $2.7B | ||
| Q4 24 | $856.1M | $2.4B | ||
| Q3 24 | $857.9M | $2.3B | ||
| Q2 24 | $698.3M | $2.4B | ||
| Q1 24 | $638.3M | $2.4B |
总债务CMCRBLX
| Q4 25 | $3.3B | $1.2B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
股东权益CMCRBLX
| Q4 25 | $4.3B | $394.5M | ||
| Q3 25 | $4.2B | $407.6M | ||
| Q2 25 | $4.1B | $353.2M | ||
| Q1 25 | $4.0B | $310.7M | ||
| Q4 24 | $4.0B | $221.4M | ||
| Q3 24 | $4.3B | $189.9M | ||
| Q2 24 | $4.3B | $121.5M | ||
| Q1 24 | $4.2B | $71.6M |
总资产CMCRBLX
| Q4 25 | $9.2B | $9.6B | ||
| Q3 25 | $7.2B | $8.6B | ||
| Q2 25 | $7.0B | $7.8B | ||
| Q1 25 | $6.7B | $7.5B | ||
| Q4 24 | $6.8B | $7.2B | ||
| Q3 24 | $6.8B | $6.7B | ||
| Q2 24 | $6.7B | $6.5B | ||
| Q1 24 | $6.7B | $6.3B |
负债/权益比CMCRBLX
| Q4 25 | 0.77× | 2.98× | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.29× | 5.48× | ||
| Q3 24 | 0.27× | — | ||
| Q2 24 | 0.27× | — | ||
| Q1 24 | 0.27× | — |
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 | $204.2M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $78.8M | $308.6M |
| 自由现金流率自由现金流/营收 | 3.7% | 21.8% |
| 资本支出强度资本支出/营收 | 5.9% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.15× | — |
| 过去12个月自由现金流最近4个季度 | $296.2M | $1.4B |
8季度趋势，按日历期对齐
经营现金流CMCRBLX
| Q4 25 | $204.2M | $607.0M | ||
| Q3 25 | $315.2M | $546.2M | ||
| Q2 25 | $154.4M | $199.3M | ||
| Q1 25 | $32.4M | $443.9M | ||
| Q4 24 | $213.0M | $184.5M | ||
| Q3 24 | $351.8M | $247.4M | ||
| Q2 24 | $197.9M | $151.4M | ||
| Q1 24 | $89.0M | $238.9M |
自由现金流CMCRBLX
| Q4 25 | $78.8M | $308.6M | ||
| Q3 25 | $206.3M | $443.6M | ||
| Q2 25 | $65.0M | $176.7M | ||
| Q1 25 | $-53.8M | $426.5M | ||
| Q4 24 | $94.8M | $120.6M | ||
| Q3 24 | $270.3M | $218.0M | ||
| Q2 24 | $115.8M | $111.7M | ||
| Q1 24 | $-4.8M | $192.3M |
自由现金流率CMCRBLX
| Q4 25 | 3.7% | 21.8% | ||
| Q3 25 | 9.8% | 32.6% | ||
| Q2 25 | 3.2% | 16.3% | ||
| Q1 25 | -3.1% | 41.2% | ||
| Q4 24 | 5.0% | 12.2% | ||
| Q3 24 | 13.5% | 23.7% | ||
| Q2 24 | 5.6% | 12.5% | ||
| Q1 24 | -0.3% | 24.0% |
资本支出强度CMCRBLX
| Q4 25 | 5.9% | 21.1% | ||
| Q3 25 | 5.2% | 7.5% | ||
| Q2 25 | 4.4% | 2.1% | ||
| Q1 25 | 4.9% | 1.7% | ||
| Q4 24 | 6.2% | 6.5% | ||
| Q3 24 | 4.1% | 3.2% | ||
| Q2 24 | 3.9% | 4.4% | ||
| Q1 24 | 5.1% | 5.8% |
现金转化率CMCRBLX
| Q4 25 | 1.15× | — | ||
| Q3 25 | 2.08× | — | ||
| Q2 25 | 1.86× | — | ||
| Q1 25 | 1.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.39× | — | ||
| Q2 24 | 1.66× | — | ||
| Q1 24 | 1.04× | — |
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
CMC
| Steel Products | $670.8M | 32% |
| Downstream Products | $505.3M | 24% |
| Construction Solutions Group | $314.4M | 15% |
| Europe Steel Group | $200.0M | 9% |
| Precast Products | $141.6M | 7% |
| Construction Products | $78.4M | 4% |
| Foley Products Company LLC | $75.1M | 4% |
| Concrete Pipe And Precast LLC | $69.4M | 3% |
| Ground Stabilization Products | $49.9M | 2% |
RBLX
暂无分部数据
