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美商海盗船（CRSR）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美商海盗船的3.2倍（$1.4B vs $436.9M），美商海盗船净利率更高（5.9% vs -22.3%，领先28.2%），罗布乐思同比增速更快（43.2% vs 5.6%），罗布乐思自由现金流更多（$308.6M vs $32.9M），过去两年罗布乐思的营收复合增速更高（32.9% 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。
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。
CRSR vs RBLX — 直观对比
营收规模更大
RBLX
是对方的3.2倍
$436.9M
营收增速更快
RBLX
高出37.6%
5.6%
净利率更高
CRSR
高出28.2%
-22.3%
自由现金流更多
RBLX
多$275.7M
$32.9M
两年增速更快
RBLX
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $436.9M | $1.4B |
| 净利润 | $25.8M | $-316.0M |
| 毛利率 | 33.1% | 77.7% |
| 营业利润率 | 6.2% | -25.3% |
| 净利率 | 5.9% | -22.3% |
| 营收同比 | 5.6% | 43.2% |
| 净利润同比 | 1028.2% | -43.9% |
| 每股收益（稀释后） | $0.23 | $-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CRSRRBLX
| Q4 25 | $436.9M | $1.4B | ||
| Q3 25 | $345.8M | $1.4B | ||
| Q2 25 | $320.1M | $1.1B | ||
| Q1 25 | $369.8M | $1.0B | ||
| Q4 24 | $413.6M | $988.2M | ||
| Q3 24 | $304.2M | $919.0M | ||
| Q2 24 | $261.3M | $893.5M | ||
| Q1 24 | $337.3M | $801.3M |
净利润CRSRRBLX
| Q4 25 | $25.8M | $-316.0M | ||
| Q3 25 | $-10.6M | $-255.6M | ||
| Q2 25 | $-20.9M | $-278.4M | ||
| Q1 25 | $-10.5M | $-215.1M | ||
| Q4 24 | $2.3M | $-219.6M | ||
| Q3 24 | $-51.7M | $-239.3M | ||
| Q2 24 | $-24.2M | $-205.9M | ||
| Q1 24 | $-11.6M | $-270.6M |
毛利率CRSRRBLX
| Q4 25 | 33.1% | 77.7% | ||
| Q3 25 | 26.9% | 78.2% | ||
| Q2 25 | 26.8% | 78.2% | ||
| Q1 25 | 27.7% | 78.3% | ||
| Q4 24 | 26.2% | 77.9% | ||
| Q3 24 | 22.9% | 77.7% | ||
| Q2 24 | 24.1% | 77.8% | ||
| Q1 24 | 25.7% | 77.7% |
营业利润率CRSRRBLX
| Q4 25 | 6.2% | -25.3% | ||
| Q3 25 | -1.6% | -21.8% | ||
| Q2 25 | -5.3% | -29.8% | ||
| Q1 25 | -0.6% | -24.6% | ||
| Q4 24 | 1.4% | -24.7% | ||
| Q3 24 | -6.9% | -30.4% | ||
| Q2 24 | -9.5% | -26.6% | ||
| Q1 24 | -3.0% | -37.7% |
净利率CRSRRBLX
| Q4 25 | 5.9% | -22.3% | ||
| Q3 25 | -3.1% | -18.8% | ||
| Q2 25 | -6.5% | -25.8% | ||
| Q1 25 | -2.8% | -20.8% | ||
| Q4 24 | 0.6% | -22.2% | ||
| Q3 24 | -17.0% | -26.0% | ||
| Q2 24 | -9.3% | -23.0% | ||
| Q1 24 | -3.4% | -33.8% |
每股收益（稀释后）CRSRRBLX
| Q4 25 | $0.23 | $-0.44 | ||
| Q3 25 | $-0.09 | $-0.37 | ||
| Q2 25 | $-0.16 | $-0.41 | ||
| Q1 25 | $-0.10 | $-0.32 | ||
| Q4 24 | $0.01 | $-0.32 | ||
| Q3 24 | $-0.56 | $-0.37 | ||
| Q2 24 | $-0.28 | $-0.32 | ||
| Q1 24 | $-0.12 | $-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 | — | $3.1B |
| 总债务越低越好 | $121.3M | $1.2B |
| 股东权益账面价值 | $633.6M | $394.5M |
| 总资产 | $1.3B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.19× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资CRSRRBLX
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总债务CRSRRBLX
| Q4 25 | $121.3M | $1.2B | ||
| Q3 25 | $122.9M | — | ||
| Q2 25 | $124.4M | — | ||
| Q1 25 | $148.7M | — | ||
| Q4 24 | $173.5M | $1.2B | ||
| Q3 24 | $177.2M | — | ||
| Q2 24 | $180.3M | — | ||
| Q1 24 | $183.3M | — |
股东权益CRSRRBLX
| Q4 25 | $633.6M | $394.5M | ||
| Q3 25 | $600.2M | $407.6M | ||
| Q2 25 | $603.9M | $353.2M | ||
| Q1 25 | $608.8M | $310.7M | ||
| Q4 24 | $604.3M | $221.4M | ||
| Q3 24 | $598.5M | $189.9M | ||
| Q2 24 | $642.7M | $121.5M | ||
| Q1 24 | $663.5M | $71.6M |
总资产CRSRRBLX
| Q4 25 | $1.3B | $9.6B | ||
| Q3 25 | $1.2B | $8.6B | ||
| Q2 25 | $1.2B | $7.8B | ||
| Q1 25 | $1.2B | $7.5B | ||
| Q4 24 | $1.2B | $7.2B | ||
| Q3 24 | $1.2B | $6.7B | ||
| Q2 24 | $1.2B | $6.5B | ||
| Q1 24 | $1.3B | $6.3B |
负债/权益比CRSRRBLX
| Q4 25 | 0.19× | 2.98× | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.21× | — | ||
| Q1 25 | 0.24× | — | ||
| Q4 24 | 0.29× | 5.48× | ||
| 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 | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $32.9M | $308.6M |
| 自由现金流率自由现金流/营收 | 7.5% | 21.8% |
| 资本支出强度资本支出/营收 | 1.2% | 21.1% |
| 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 | $1.4B |
8季度趋势，按日历期对齐
经营现金流CRSRRBLX
| Q4 25 | $38.2M | $607.0M | ||
| Q3 25 | $-37.0M | $546.2M | ||
| Q2 25 | $30.2M | $199.3M | ||
| Q1 25 | $18.8M | $443.9M | ||
| Q4 24 | $55.6M | $184.5M | ||
| Q3 24 | $25.1M | $247.4M | ||
| Q2 24 | $-18.5M | $151.4M | ||
| Q1 24 | $-26.3M | $238.9M |
自由现金流CRSRRBLX
| Q4 25 | $32.9M | $308.6M | ||
| Q3 25 | $-41.3M | $443.6M | ||
| Q2 25 | $27.5M | $176.7M | ||
| Q1 25 | $15.7M | $426.5M | ||
| Q4 24 | $54.1M | $120.6M | ||
| Q3 24 | $21.8M | $218.0M | ||
| Q2 24 | $-21.0M | $111.7M | ||
| Q1 24 | $-28.8M | $192.3M |
自由现金流率CRSRRBLX
| Q4 25 | 7.5% | 21.8% | ||
| Q3 25 | -12.0% | 32.6% | ||
| Q2 25 | 8.6% | 16.3% | ||
| Q1 25 | 4.2% | 41.2% | ||
| Q4 24 | 13.1% | 12.2% | ||
| Q3 24 | 7.2% | 23.7% | ||
| Q2 24 | -8.0% | 12.5% | ||
| Q1 24 | -8.6% | 24.0% |
资本支出强度CRSRRBLX
| Q4 25 | 1.2% | 21.1% | ||
| Q3 25 | 1.3% | 7.5% | ||
| Q2 25 | 0.8% | 2.1% | ||
| Q1 25 | 0.8% | 1.7% | ||
| Q4 24 | 0.4% | 6.5% | ||
| Q3 24 | 1.1% | 3.2% | ||
| Q2 24 | 1.0% | 4.4% | ||
| Q1 24 | 0.7% | 5.8% |
现金转化率CRSRRBLX
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 24.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
RBLX
暂无分部数据
