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芝商所（CME）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
芝商所的季度营收约是罗布乐思的1.3倍（$1.9B vs $1.4B），芝商所净利率更高（0.1% vs -22.3%，领先22.4%），罗布乐思同比增速更快（43.2% vs 14.5%），过去两年罗布乐思的营收复合增速更高（32.9% vs 10.8%）
芝商所是总部位于美国伊利诺伊州芝加哥的金融服务企业，为全球规模最大的金融衍生品交易所运营商，旗下拥有芝加哥商品交易所、芝加哥期货交易所、纽约商业交易所、纽约商品交易所等交易平台，覆盖农产品、货币、能源等品类交易，同时持有标普道琼斯指数27%的股权。
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。
CME vs RBLX — 直观对比
营收规模更大
CME
是对方的1.3倍
$1.4B
营收增速更快
RBLX
高出28.7%
14.5%
净利率更高
CME
高出22.4%
-22.3%
两年增速更快
RBLX
近两年复合增速
10.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.4B |
| 净利润 | $1.2M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 0.1% | -25.3% |
| 净利率 | 0.1% | -22.3% |
| 营收同比 | 14.5% | 43.2% |
| 净利润同比 | 20.7% | -43.9% |
| 每股收益（稀释后） | — | $-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CMERBLX
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.6B | $1.0B | ||
| Q4 24 | $1.5B | $988.2M | ||
| Q3 24 | $1.6B | $919.0M | ||
| Q2 24 | $1.5B | $893.5M |
净利润CMERBLX
| Q1 26 | $1.2M | — | ||
| Q4 25 | $1.2B | $-316.0M | ||
| Q3 25 | $908.0M | $-255.6M | ||
| Q2 25 | $1.0B | $-278.4M | ||
| Q1 25 | $956.2M | $-215.1M | ||
| Q4 24 | $874.6M | $-219.6M | ||
| Q3 24 | $912.8M | $-239.3M | ||
| Q2 24 | $883.2M | $-205.9M |
毛利率CMERBLX
| Q1 26 | — | — | ||
| 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% |
营业利润率CMERBLX
| Q1 26 | 0.1% | — | ||
| Q4 25 | 61.8% | -25.3% | ||
| Q3 25 | 63.3% | -21.8% | ||
| Q2 25 | 66.7% | -29.8% | ||
| Q1 25 | 67.5% | -24.6% | ||
| Q4 24 | 62.1% | -24.7% | ||
| Q3 24 | 64.6% | -30.4% | ||
| Q2 24 | 65.3% | -26.6% |
净利率CMERBLX
| Q1 26 | 0.1% | — | ||
| Q4 25 | 71.7% | -22.3% | ||
| Q3 25 | 59.1% | -18.8% | ||
| Q2 25 | 60.6% | -25.8% | ||
| Q1 25 | 58.2% | -20.8% | ||
| Q4 24 | 57.3% | -22.2% | ||
| Q3 24 | 57.6% | -26.0% | ||
| Q2 24 | 57.6% | -23.0% |
每股收益（稀释后）CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | $3.24 | $-0.44 | ||
| Q3 25 | $2.49 | $-0.37 | ||
| Q2 25 | $2.81 | $-0.41 | ||
| Q1 25 | $2.62 | $-0.32 | ||
| Q4 24 | $2.40 | $-0.32 | ||
| Q3 24 | $2.50 | $-0.37 | ||
| Q2 24 | $2.42 | $-0.32 |
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 | $2.4B | $3.1B |
| 总债务越低越好 | $3.4B | $1.2B |
| 股东权益账面价值 | — | $394.5M |
| 总资产 | $202.0B | $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CMERBLX
| Q1 26 | $2.4B | — | ||
| Q4 25 | $4.5B | $3.1B | ||
| Q3 25 | $2.6B | $2.9B | ||
| Q2 25 | $2.1B | $2.6B | ||
| Q1 25 | $1.5B | $2.7B | ||
| Q4 24 | $3.0B | $2.4B | ||
| Q3 24 | $2.4B | $2.3B | ||
| Q2 24 | $1.9B | $2.4B |
总债务CMERBLX
| Q1 26 | $3.4B | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | $28.7B | $394.5M | ||
| Q3 25 | $28.2B | $407.6M | ||
| Q2 25 | $27.7B | $353.2M | ||
| Q1 25 | $27.0B | $310.7M | ||
| Q4 24 | $26.5B | $221.4M | ||
| Q3 24 | $28.2B | $189.9M | ||
| Q2 24 | $27.6B | $121.5M |
总资产CMERBLX
| Q1 26 | $202.0B | — | ||
| Q4 25 | $198.4B | $9.6B | ||
| Q3 25 | $187.1B | $8.6B | ||
| Q2 25 | $179.9B | $7.8B | ||
| Q1 25 | $157.8B | $7.5B | ||
| Q4 24 | $137.4B | $7.2B | ||
| Q3 24 | $137.8B | $6.7B | ||
| Q2 24 | $123.4B | $6.5B |
负债/权益比CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.48× | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $607.0M |
| 自由现金流经营现金流 - 资本支出 | — | $308.6M |
| 自由现金流率自由现金流/营收 | — | 21.8% |
| 资本支出强度资本支出/营收 | — | 21.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $607.0M | ||
| Q3 25 | $968.1M | $546.2M | ||
| Q2 25 | $1.1B | $199.3M | ||
| Q1 25 | $1.1B | $443.9M | ||
| Q4 24 | $1.0B | $184.5M | ||
| Q3 24 | $1.0B | $247.4M | ||
| Q2 24 | $776.9M | $151.4M |
自由现金流CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $308.6M | ||
| Q3 25 | $949.7M | $443.6M | ||
| Q2 25 | $1.0B | $176.7M | ||
| Q1 25 | $1.1B | $426.5M | ||
| Q4 24 | $991.7M | $120.6M | ||
| Q3 24 | $973.2M | $218.0M | ||
| Q2 24 | $758.7M | $111.7M |
自由现金流率CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | 66.8% | 21.8% | ||
| Q3 25 | 61.8% | 32.6% | ||
| Q2 25 | 61.5% | 16.3% | ||
| Q1 25 | 67.1% | 41.2% | ||
| Q4 24 | 65.0% | 12.2% | ||
| Q3 24 | 61.4% | 23.7% | ||
| Q2 24 | 49.5% | 12.5% |
资本支出强度CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 21.1% | ||
| Q3 25 | 1.2% | 7.5% | ||
| Q2 25 | 1.1% | 2.1% | ||
| Q1 25 | 0.9% | 1.7% | ||
| Q4 24 | 1.7% | 6.5% | ||
| Q3 24 | 1.9% | 3.2% | ||
| Q2 24 | 1.2% | 4.4% |
现金转化率CMERBLX
| Q1 26 | — | — | ||
| Q4 25 | 0.96× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 1.16× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 0.88× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
