vs
卡骆驰（CROX）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
罗布乐思的季度营收约是卡骆驰的1.5倍（$1.4B vs $921.5M），卡骆驰净利率更高（14.9% vs -22.3%，领先37.3%），罗布乐思同比增速更快（43.2% vs -1.7%），罗布乐思自由现金流更多（$308.6M vs $-98.9M），过去两年罗布乐思的营收复合增速更高（32.9% vs -8.9%）
卡骆驰（Crocs）是总部位于美国科罗拉多州布鲁姆菲尔德的鞋履企业，主打生产、销售旗下同名品牌的泡沫鞋履产品。其标志性鞋款虽被品牌称为“木屐”，但和传统木屐不同，不含木质材料，凭借舒适轻便的特性受到全球消费者喜爱。
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。
CROX vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.5倍
$921.5M
营收增速更快
RBLX
高出44.9%
-1.7%
净利率更高
CROX
高出37.3%
-22.3%
自由现金流更多
RBLX
多$407.5M
$-98.9M
两年增速更快
RBLX
近两年复合增速
-8.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $921.5M | $1.4B |
| 净利润 | $137.6M | $-316.0M |
| 毛利率 | 56.8% | 77.7% |
| 营业利润率 | 21.8% | -25.3% |
| 净利率 | 14.9% | -22.3% |
| 营收同比 | -1.7% | 43.2% |
| 净利润同比 | -14.1% | -43.9% |
| 每股收益（稀释后） | $2.71 | $-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CROXRBLX
| Q1 26 | $921.5M | — | ||
| Q4 25 | $957.6M | $1.4B | ||
| Q3 25 | $996.3M | $1.4B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $937.3M | $1.0B | ||
| Q4 24 | $989.8M | $988.2M | ||
| Q3 24 | $1.1B | $919.0M | ||
| Q2 24 | $1.1B | $893.5M |
净利润CROXRBLX
| Q1 26 | $137.6M | — | ||
| Q4 25 | $105.2M | $-316.0M | ||
| Q3 25 | $145.8M | $-255.6M | ||
| Q2 25 | $-492.3M | $-278.4M | ||
| Q1 25 | $160.1M | $-215.1M | ||
| Q4 24 | $368.9M | $-219.6M | ||
| Q3 24 | $199.8M | $-239.3M | ||
| Q2 24 | $228.9M | $-205.9M |
毛利率CROXRBLX
| Q1 26 | 56.8% | — | ||
| Q4 25 | 54.7% | 77.7% | ||
| Q3 25 | 58.5% | 78.2% | ||
| Q2 25 | 61.7% | 78.2% | ||
| Q1 25 | 57.8% | 78.3% | ||
| Q4 24 | 57.9% | 77.9% | ||
| Q3 24 | 59.6% | 77.7% | ||
| Q2 24 | 61.4% | 77.8% |
营业利润率CROXRBLX
| Q1 26 | 21.8% | — | ||
| Q4 25 | 15.3% | -25.3% | ||
| Q3 25 | 20.8% | -21.8% | ||
| Q2 25 | -37.2% | -29.8% | ||
| Q1 25 | 23.8% | -24.6% | ||
| Q4 24 | 20.2% | -24.7% | ||
| Q3 24 | 25.4% | -30.4% | ||
| Q2 24 | 29.3% | -26.6% |
净利率CROXRBLX
| Q1 26 | 14.9% | — | ||
| Q4 25 | 11.0% | -22.3% | ||
| Q3 25 | 14.6% | -18.8% | ||
| Q2 25 | -42.8% | -25.8% | ||
| Q1 25 | 17.1% | -20.8% | ||
| Q4 24 | 37.3% | -22.2% | ||
| Q3 24 | 18.8% | -26.0% | ||
| Q2 24 | 20.6% | -23.0% |
每股收益（稀释后）CROXRBLX
| Q1 26 | $2.71 | — | ||
| Q4 25 | $1.79 | $-0.44 | ||
| Q3 25 | $2.70 | $-0.37 | ||
| Q2 25 | $-8.82 | $-0.41 | ||
| Q1 25 | $2.83 | $-0.32 | ||
| Q4 24 | $6.25 | $-0.32 | ||
| Q3 24 | $3.36 | $-0.37 | ||
| Q2 24 | $3.77 | $-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 | $130.9M | $3.1B |
| 总债务越低越好 | $1.3B | $1.2B |
| 股东权益账面价值 | $1.4B | $394.5M |
| 总资产 | $4.3B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.93× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资CROXRBLX
| Q1 26 | $130.9M | — | ||
| Q4 25 | $130.4M | $3.1B | ||
| Q3 25 | $154.0M | $2.9B | ||
| Q2 25 | $200.6M | $2.6B | ||
| Q1 25 | $166.5M | $2.7B | ||
| Q4 24 | $180.5M | $2.4B | ||
| Q3 24 | $186.1M | $2.3B | ||
| Q2 24 | $167.7M | $2.4B |
总债务CROXRBLX
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CROXRBLX
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.3B | $394.5M | ||
| Q3 25 | $1.4B | $407.6M | ||
| Q2 25 | $1.4B | $353.2M | ||
| Q1 25 | $2.0B | $310.7M | ||
| Q4 24 | $1.8B | $221.4M | ||
| Q3 24 | $1.7B | $189.9M | ||
| Q2 24 | $1.7B | $121.5M |
总资产CROXRBLX
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.2B | $9.6B | ||
| Q3 25 | $4.3B | $8.6B | ||
| Q2 25 | $4.5B | $7.8B | ||
| Q1 25 | $5.1B | $7.5B | ||
| Q4 24 | $4.8B | $7.2B | ||
| Q3 24 | $4.7B | $6.7B | ||
| Q2 24 | $4.7B | $6.5B |
负债/权益比CROXRBLX
| Q1 26 | 0.93× | — | ||
| 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 | $-98.9M | $308.6M |
| 自由现金流率自由现金流/营收 | -10.7% | 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 | $642.9M | $1.4B |
8季度趋势，按日历期对齐
经营现金流CROXRBLX
| Q1 26 | — | — | ||
| Q4 25 | $252.5M | $607.0M | ||
| Q3 25 | $239.3M | $546.2M | ||
| Q2 25 | $285.8M | $199.3M | ||
| Q1 25 | $-67.2M | $443.9M | ||
| Q4 24 | $321.9M | $184.5M | ||
| Q3 24 | $296.9M | $247.4M | ||
| Q2 24 | $401.2M | $151.4M |
自由现金流CROXRBLX
| Q1 26 | $-98.9M | — | ||
| Q4 25 | $246.4M | $308.6M | ||
| Q3 25 | $226.2M | $443.6M | ||
| Q2 25 | $269.2M | $176.7M | ||
| Q1 25 | $-82.6M | $426.5M | ||
| Q4 24 | $303.4M | $120.6M | ||
| Q3 24 | $278.8M | $218.0M | ||
| Q2 24 | $384.2M | $111.7M |
自由现金流率CROXRBLX
| Q1 26 | -10.7% | — | ||
| Q4 25 | 25.7% | 21.8% | ||
| Q3 25 | 22.7% | 32.6% | ||
| Q2 25 | 23.4% | 16.3% | ||
| Q1 25 | -8.8% | 41.2% | ||
| Q4 24 | 30.7% | 12.2% | ||
| Q3 24 | 26.3% | 23.7% | ||
| Q2 24 | 34.6% | 12.5% |
资本支出强度CROXRBLX
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 21.1% | ||
| Q3 25 | 1.3% | 7.5% | ||
| Q2 25 | 1.4% | 2.1% | ||
| Q1 25 | 1.6% | 1.7% | ||
| Q4 24 | 1.9% | 6.5% | ||
| Q3 24 | 1.7% | 3.2% | ||
| Q2 24 | 1.5% | 4.4% |
现金转化率CROXRBLX
| Q1 26 | — | — | ||
| Q4 25 | 2.40× | — | ||
| Q3 25 | 1.64× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.42× | — | ||
| Q4 24 | 0.87× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.75× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
