vs
Core Scientific, Inc.（CORZ）与Riot Platforms, Inc.（RIOT）财务数据对比。点击上方公司名可切换其他公司
Riot Platforms, Inc.的季度营收约是Core Scientific, Inc.的1.9倍（$152.8M vs $79.8M），Core Scientific, Inc.净利率更高（268.5% vs -452.0%，领先720.5%），Riot Platforms, Inc.同比增速更快（7.2% vs -16.0%），Core Scientific, Inc.自由现金流更多（$-450.8M vs $-774.3M），过去两年Riot Platforms, Inc.的营收复合增速更高（38.8% vs -33.3%）
Core Scientific是全球领先的数字资产与高性能计算基础设施服务商，在北美多地运营高能效大型数据中心，主营加密货币挖矿业务，同时为区块链、人工智能领域客户提供托管及定制化算力解决方案。
Riot Platforms是美国领先的比特币挖矿企业，在北美地区运营多座大规模高能效的加密货币矿场，同时布局区块链相关基础设施业务，长期持有比特币作为核心储备资产，专注于数字资产生态相关业务的长期发展。
CORZ vs RIOT — 直观对比
营收规模更大
RIOT
是对方的1.9倍
$79.8M
营收增速更快
RIOT
高出23.2%
-16.0%
净利率更高
CORZ
高出720.5%
-452.0%
自由现金流更多
CORZ
多$323.6M
$-774.3M
两年增速更快
RIOT
近两年复合增速
-33.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $79.8M | $152.8M |
| 净利润 | $214.2M | $-690.7M |
| 毛利率 | 26.0% | — |
| 营业利润率 | -149.5% | -447.9% |
| 净利率 | 268.5% | -452.0% |
| 营收同比 | -16.0% | 7.2% |
| 净利润同比 | 180.6% | -606.3% |
| 每股收益（稀释后） | $-1.63 | $-1.89 |
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CORZRIOT
| Q4 25 | $79.8M | $152.8M | ||
| Q3 25 | $81.1M | $180.2M | ||
| Q2 25 | $78.6M | $153.0M | ||
| Q1 25 | $79.5M | $161.4M | ||
| Q4 24 | $94.9M | $142.6M | ||
| Q3 24 | $95.4M | $84.8M | ||
| Q2 24 | $141.1M | $70.0M | ||
| Q1 24 | $179.3M | $79.3M |
净利润CORZRIOT
| Q4 25 | $214.2M | $-690.7M | ||
| Q3 25 | $-144.0M | $104.5M | ||
| Q2 25 | $-936.8M | $219.5M | ||
| Q1 25 | $576.3M | $-296.4M | ||
| Q4 24 | $-265.5M | $136.4M | ||
| Q3 24 | $-455.3M | $-154.4M | ||
| Q2 24 | $-902.2M | $-84.4M | ||
| Q1 24 | $210.7M | $211.8M |
毛利率CORZRIOT
| Q4 25 | 26.0% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 10.3% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | 27.5% | — | ||
| Q1 24 | 43.3% | — |
营业利润率CORZRIOT
| Q4 25 | -149.5% | -447.9% | ||
| Q3 25 | -67.6% | 44.4% | ||
| Q2 25 | -33.4% | — | ||
| Q1 25 | -59.1% | -144.9% | ||
| Q4 24 | -41.9% | — | ||
| Q3 24 | -43.2% | -143.3% | ||
| Q2 24 | -64.3% | -167.2% | ||
| Q1 24 | 30.8% | — |
净利率CORZRIOT
| Q4 25 | 268.5% | -452.0% | ||
| Q3 25 | -177.6% | 58.0% | ||
| Q2 25 | -1191.4% | 143.4% | ||
| Q1 25 | 724.6% | -183.6% | ||
| Q4 24 | -279.7% | 95.7% | ||
| Q3 24 | -477.4% | -182.1% | ||
| Q2 24 | -639.4% | -120.6% | ||
| Q1 24 | 117.5% | 267.1% |
每股收益（稀释后）CORZRIOT
| Q4 25 | $-1.63 | $-1.89 | ||
| Q3 25 | $-0.45 | $0.26 | ||
| Q2 25 | $-0.04 | $0.58 | ||
| Q1 25 | $1.24 | $-0.90 | ||
| Q4 24 | $0.51 | $0.39 | ||
| Q3 24 | $-1.17 | $-0.54 | ||
| Q2 24 | $-5.05 | $-0.32 | ||
| Q1 24 | $0.78 | $0.51 |
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 | $311.4M | $233.5M |
| 总债务越低越好 | — | $840.8M |
| 股东权益账面价值 | $-962.7M | $2.9B |
| 总资产 | $2.3B | $3.9B |
| 负债/权益比越低杠杆越低 | — | 0.29× |
8季度趋势，按日历期对齐
现金及短期投资CORZRIOT
| Q4 25 | $311.4M | $233.5M | ||
| Q3 25 | $453.4M | $330.7M | ||
| Q2 25 | $581.3M | $255.4M | ||
| Q1 25 | $697.9M | $163.7M | ||
| Q4 24 | $836.2M | $277.9M | ||
| Q3 24 | $253.0M | $355.7M | ||
| Q2 24 | $96.1M | $481.2M | ||
| Q1 24 | $98.1M | $688.5M |
总债务CORZRIOT
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CORZRIOT
| Q4 25 | $-962.7M | $2.9B | ||
| Q3 25 | $-1.3B | $3.5B | ||
| Q2 25 | $-1.2B | $3.3B | ||
| Q1 25 | $-308.8M | $2.9B | ||
| Q4 24 | $-943.0M | $3.1B | ||
| Q3 24 | $-826.7M | $2.7B | ||
| Q2 24 | $-1.2B | $2.6B | ||
| Q1 24 | $-318.5M | $2.5B |
总资产CORZRIOT
| Q4 25 | $2.3B | $3.9B | ||
| Q3 25 | $2.2B | $4.5B | ||
| Q2 25 | $1.9B | $4.3B | ||
| Q1 25 | $1.5B | $3.7B | ||
| Q4 24 | $1.5B | $3.9B | ||
| Q3 24 | $824.6M | $2.9B | ||
| Q2 24 | $664.2M | $2.7B | ||
| Q1 24 | $814.0M | $2.6B |
负债/权益比CORZRIOT
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| 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 | $278.3M | $-572.9M |
| 自由现金流经营现金流 - 资本支出 | $-450.8M | $-774.3M |
| 自由现金流率自由现金流/营收 | -565.1% | -506.6% |
| 资本支出强度资本支出/营收 | 914.0% | 131.8% |
| 现金转化率经营现金流/净利润 | 1.30× | — |
| 过去12个月自由现金流最近4个季度 | $-779.8M | $-1.4B |
8季度趋势，按日历期对齐
经营现金流CORZRIOT
| Q4 25 | $278.3M | $-572.9M | ||
| Q3 25 | $131.8M | $-114.0M | ||
| Q2 25 | $34.0M | $-231.3M | ||
| Q1 25 | $-45.0M | $-122.1M | ||
| Q4 24 | $42.9M | $-255.1M | ||
| Q3 24 | $5.7M | $-56.3M | ||
| Q2 24 | $1.2M | $-42.5M | ||
| Q1 24 | $22.2M | $-57.9M |
自由现金流CORZRIOT
| Q4 25 | $-450.8M | $-774.3M | ||
| Q3 25 | $-112.7M | $-139.7M | ||
| Q2 25 | $-87.3M | $-291.7M | ||
| Q1 25 | $-129.0M | $-154.9M | ||
| Q4 24 | $-52.1M | $-495.4M | ||
| Q3 24 | $-25.5M | $-127.6M | ||
| Q2 24 | $-1.9M | $-96.1M | ||
| Q1 24 | $-9.7M | $-115.2M |
自由现金流率CORZRIOT
| Q4 25 | -565.1% | -506.6% | ||
| Q3 25 | -139.0% | -77.5% | ||
| Q2 25 | -111.0% | -190.7% | ||
| Q1 25 | -162.2% | -96.0% | ||
| Q4 24 | -54.8% | -347.5% | ||
| Q3 24 | -26.7% | -150.5% | ||
| Q2 24 | -1.4% | -137.2% | ||
| Q1 24 | -5.4% | -145.2% |
资本支出强度CORZRIOT
| Q4 25 | 914.0% | 131.8% | ||
| Q3 25 | 301.5% | 14.3% | ||
| Q2 25 | 154.2% | 39.5% | ||
| Q1 25 | 105.6% | 20.4% | ||
| Q4 24 | 100.0% | 168.6% | ||
| Q3 24 | 32.7% | 84.1% | ||
| Q2 24 | 2.2% | 76.5% | ||
| Q1 24 | 17.8% | 72.3% |
现金转化率CORZRIOT
| Q4 25 | 1.30× | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.11× | -0.27× |
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
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
