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美商海盗船（CRSR）与IMMERSION CORP（IMMR）财务数据对比。点击上方公司名可切换其他公司
美商海盗船的季度营收约是IMMERSION CORP的1.2倍（$436.9M vs $372.9M）。美商海盗船净利率更高（5.9% vs -4.6%，领先10.5%）。IMMERSION CORP同比增速更快（750.4% vs 5.6%）。过去两年IMMERSION CORP的营收复合增速更高（416.0% vs 13.8%）
美商海盗船是源自美国的电脑外设与电竞硬件品牌，总部位于加利福尼亚州米尔皮塔斯。公司创立于1994年，原名海盗船微系统，后更名为海盗船组件、海盗船内存，2007年重新在特拉华州注册。主打产品涵盖高速内存模块、电源、闪存、CPU显卡与机箱散热、电竞外设、电脑机箱等各类电脑相关产品。
Immersion Corporation总部位于佛罗里达州阿文图拉，主要研发并授权触觉反馈技术（即触感技术）。公司由路易斯·罗森伯格于1993年创立，目前由律师弗朗西斯·何塞掌管，他同时担任首席执行官与总法律顾问一职。
CRSR vs IMMR — 直观对比
营收规模更大
CRSR
是对方的1.2倍
$372.9M
营收增速更快
IMMR
高出744.8%
5.6%
净利率更高
CRSR
高出10.5%
-4.6%
两年增速更快
IMMR
近两年复合增速
13.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $436.9M | $372.9M |
| 净利润 | $25.8M | $-17.0M |
| 毛利率 | 33.1% | — |
| 营业利润率 | 6.2% | -2.8% |
| 净利率 | 5.9% | -4.6% |
| 营收同比 | 5.6% | 750.4% |
| 净利润同比 | 1028.2% | -191.3% |
| 每股收益（稀释后） | $0.23 | $-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CRSRIMMR
| Q4 25 | $436.9M | — | ||
| Q3 25 | $345.8M | — | ||
| Q2 25 | $320.1M | $372.9M | ||
| Q1 25 | $369.8M | $471.3M | ||
| Q4 24 | $413.6M | $616.2M | ||
| Q3 24 | $304.2M | — | ||
| Q2 24 | $261.3M | $95.5M | ||
| Q1 24 | $337.3M | — |
净利润CRSRIMMR
| Q4 25 | $25.8M | — | ||
| Q3 25 | $-10.6M | — | ||
| Q2 25 | $-20.9M | $-17.0M | ||
| Q1 25 | $-10.5M | $24.1M | ||
| Q4 24 | $2.3M | $30.8M | ||
| Q3 24 | $-51.7M | — | ||
| Q2 24 | $-24.2M | $26.4M | ||
| Q1 24 | $-11.6M | — |
毛利率CRSRIMMR
| Q4 25 | 33.1% | — | ||
| Q3 25 | 26.9% | — | ||
| Q2 25 | 26.8% | — | ||
| Q1 25 | 27.7% | — | ||
| Q4 24 | 26.2% | — | ||
| Q3 24 | 22.9% | — | ||
| Q2 24 | 24.1% | — | ||
| Q1 24 | 25.7% | — |
营业利润率CRSRIMMR
| Q4 25 | 6.2% | — | ||
| Q3 25 | -1.6% | — | ||
| Q2 25 | -5.3% | -2.8% | ||
| Q1 25 | -0.6% | 7.5% | ||
| Q4 24 | 1.4% | 11.4% | ||
| Q3 24 | -6.9% | — | ||
| Q2 24 | -9.5% | 23.7% | ||
| Q1 24 | -3.0% | — |
净利率CRSRIMMR
| Q4 25 | 5.9% | — | ||
| Q3 25 | -3.1% | — | ||
| Q2 25 | -6.5% | -4.6% | ||
| Q1 25 | -2.8% | 5.1% | ||
| Q4 24 | 0.6% | 5.0% | ||
| Q3 24 | -17.0% | — | ||
| Q2 24 | -9.3% | 27.7% | ||
| Q1 24 | -3.4% | — |
每股收益（稀释后）CRSRIMMR
| Q4 25 | $0.23 | — | ||
| Q3 25 | $-0.09 | — | ||
| Q2 25 | $-0.16 | $-0.57 | ||
| Q1 25 | $-0.10 | $0.73 | ||
| Q4 24 | $0.01 | $0.93 | ||
| Q3 24 | $-0.56 | — | ||
| Q2 24 | $-0.28 | $0.81 | ||
| Q1 24 | $-0.12 | — |
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 | — | $161.4M |
| 总债务越低越好 | $121.3M | $103.1M |
| 股东权益账面价值 | $633.6M | $298.1M |
| 总资产 | $1.3B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.19× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资CRSRIMMR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $161.4M | ||
| Q1 25 | — | $153.9M | ||
| Q4 24 | — | $159.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $133.4M | ||
| Q1 24 | — | — |
总债务CRSRIMMR
| Q4 25 | $121.3M | — | ||
| Q3 25 | $122.9M | — | ||
| Q2 25 | $124.4M | $103.1M | ||
| Q1 25 | $148.7M | — | ||
| Q4 24 | $173.5M | — | ||
| Q3 24 | $177.2M | — | ||
| Q2 24 | $180.3M | — | ||
| Q1 24 | $183.3M | — |
股东权益CRSRIMMR
| Q4 25 | $633.6M | — | ||
| Q3 25 | $600.2M | — | ||
| Q2 25 | $603.9M | $298.1M | ||
| Q1 25 | $608.8M | $317.9M | ||
| Q4 24 | $604.3M | $305.5M | ||
| Q3 24 | $598.5M | — | ||
| Q2 24 | $642.7M | $273.4M | ||
| Q1 24 | $663.5M | — |
总资产CRSRIMMR
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | $1.2B | ||
| Q1 24 | $1.3B | — |
负债/权益比CRSRIMMR
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.21× | 0.35× | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.30× | — | ||
| Q2 24 | 0.28× | — | ||
| Q1 24 | 0.28× | — |
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 | $38.2M | — |
| 自由现金流经营现金流 - 资本支出 | $32.9M | — |
| 自由现金流率自由现金流/营收 | 7.5% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 1.48× | — |
| 过去12个月自由现金流最近4个季度 | $34.7M | — |
8季度趋势，按日历期对齐
经营现金流CRSRIMMR
| Q4 25 | $38.2M | — | ||
| Q3 25 | $-37.0M | — | ||
| Q2 25 | $30.2M | — | ||
| Q1 25 | $18.8M | $-43.7M | ||
| Q4 24 | $55.6M | — | ||
| Q3 24 | $25.1M | — | ||
| Q2 24 | $-18.5M | $-85.9M | ||
| Q1 24 | $-26.3M | — |
自由现金流CRSRIMMR
| Q4 25 | $32.9M | — | ||
| Q3 25 | $-41.3M | — | ||
| Q2 25 | $27.5M | — | ||
| Q1 25 | $15.7M | $-46.2M | ||
| Q4 24 | $54.1M | — | ||
| Q3 24 | $21.8M | — | ||
| Q2 24 | $-21.0M | — | ||
| Q1 24 | $-28.8M | — |
自由现金流率CRSRIMMR
| Q4 25 | 7.5% | — | ||
| Q3 25 | -12.0% | — | ||
| Q2 25 | 8.6% | — | ||
| Q1 25 | 4.2% | -9.8% | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 7.2% | — | ||
| Q2 24 | -8.0% | — | ||
| Q1 24 | -8.6% | — |
资本支出强度CRSRIMMR
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.8% | 0.5% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 1.0% | — | ||
| Q1 24 | 0.7% | — |
现金转化率CRSRIMMR
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1.82× | ||
| Q4 24 | 24.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -3.25× | ||
| Q1 24 | — | — |
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
CRSR
| Gamer And Creator Peripherals | $164.9M | 38% |
| Memory Products | $156.1M | 36% |
| Inventory Costs | $85.6M | 20% |
| Other Segment Items | $16.9M | 4% |
| Other | $13.3M | 3% |
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
