vs
CoreWeave, Inc.（CRWV）与新闻集团（NWSA）财务数据对比。点击上方公司名可切换其他公司
新闻集团的季度营收约是CoreWeave, Inc.的1.5倍（$2.4B vs $1.6B），新闻集团净利率更高（8.2% vs -28.7%，领先36.9%），新闻集团自由现金流更多（$132.0M vs $-2.5B）
CoreWeave是总部位于美国新泽西州利文斯顿的人工智能云计算企业，专注为AI开发者及各行业企业客户提供云侧图形处理器（GPU）算力基础设施，同时自主研发芯片管理相关软件。
新闻集团是全球知名的媒体集团，旗下拥有报纸、出版、数字媒体等多项媒体业务，在全球传媒领域拥有广泛影响力，专注于为受众提供及时多元的时事资讯与内容服务。
CRWV vs NWSA — 直观对比
营收规模更大
NWSA
是对方的1.5倍
$1.6B
净利率更高
NWSA
高出36.9%
-28.7%
自由现金流更多
NWSA
多$2.6B
$-2.5B
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.4B |
| 净利润 | $-451.7M | $193.0M |
| 毛利率 | 67.6% | — |
| 营业利润率 | -5.7% | — |
| 净利率 | -28.7% | 8.2% |
| 营收同比 | — | 5.5% |
| 净利润同比 | — | -10.2% |
| 每股收益（稀释后） | $-0.50 | $0.34 |
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CRWVNWSA
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $981.6M | $2.0B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $583.9M | $2.6B | ||
| Q2 24 | $395.4M | $2.6B | ||
| Q1 24 | — | $2.4B |
净利润CRWVNWSA
| Q4 25 | $-451.7M | $193.0M | ||
| Q3 25 | $-110.1M | $112.0M | ||
| Q2 25 | $-290.5M | $743.0M | ||
| Q1 25 | $-314.6M | $103.0M | ||
| Q4 24 | — | $215.0M | ||
| Q3 24 | $-359.8M | $119.0M | ||
| Q2 24 | $-323.0M | $50.0M | ||
| Q1 24 | — | $30.0M |
毛利率CRWVNWSA
| Q4 25 | 67.6% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.5% | — | ||
| Q2 24 | 72.5% | — | ||
| Q1 24 | — | — |
营业利润率CRWVNWSA
| Q4 25 | -5.7% | — | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 1.6% | 8.5% | ||
| Q1 25 | -2.8% | 7.5% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | 20.1% | 7.9% | ||
| Q2 24 | 19.7% | 4.3% | ||
| Q1 24 | — | 2.6% |
净利率CRWVNWSA
| Q4 25 | -28.7% | 8.2% | ||
| Q3 25 | -8.1% | 5.2% | ||
| Q2 25 | -24.0% | 45.6% | ||
| Q1 25 | -32.1% | 5.1% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | -61.6% | 4.6% | ||
| Q2 24 | -81.7% | 1.9% | ||
| Q1 24 | — | 1.2% |
每股收益（稀释后）CRWVNWSA
| Q4 25 | $-0.50 | $0.34 | ||
| Q3 25 | $-0.22 | $0.20 | ||
| Q2 25 | $-0.60 | $1.30 | ||
| Q1 25 | $-1.49 | $0.18 | ||
| Q4 24 | — | $0.38 | ||
| Q3 24 | $-1.82 | $0.21 | ||
| Q2 24 | $-1.62 | $0.09 | ||
| Q1 24 | — | $0.05 |
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 | $3.2B | $2.1B |
| 总债务越低越好 | $21.4B | $2.0B |
| 股东权益账面价值 | $3.3B | $8.8B |
| 总资产 | $49.3B | $15.5B |
| 负债/权益比越低杠杆越低 | 6.41× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资CRWVNWSA
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $1.9B | $2.2B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.0B | $2.0B | ||
| Q1 24 | — | $1.9B |
总债务CRWVNWSA
| Q4 25 | $21.4B | $2.0B | ||
| Q3 25 | $14.0B | $2.0B | ||
| Q2 25 | $11.1B | $2.0B | ||
| Q1 25 | $8.7B | $2.0B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $2.9B |
股东权益CRWVNWSA
| Q4 25 | $3.3B | $8.8B | ||
| Q3 25 | $3.9B | $8.7B | ||
| Q2 25 | $2.7B | $8.8B | ||
| Q1 25 | $1.9B | $8.2B | ||
| Q4 24 | — | $8.1B | ||
| Q3 24 | $-344.0M | $8.3B | ||
| Q2 24 | $-1.0B | $8.1B | ||
| Q1 24 | — | $8.1B |
总资产CRWVNWSA
| Q4 25 | $49.3B | $15.5B | ||
| Q3 25 | $32.9B | $15.3B | ||
| Q2 25 | $26.2B | $15.5B | ||
| Q1 25 | $21.9B | $16.6B | ||
| Q4 24 | — | $16.2B | ||
| Q3 24 | — | $16.9B | ||
| Q2 24 | — | $16.7B | ||
| Q1 24 | — | $16.5B |
负债/权益比CRWVNWSA
| Q4 25 | 6.41× | 0.22× | ||
| Q3 25 | 3.62× | 0.22× | ||
| Q2 25 | 4.16× | 0.22× | ||
| Q1 25 | 4.57× | 0.24× | ||
| Q4 24 | — | 0.24× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.36× | ||
| Q1 24 | — | 0.36× |
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 | $1.6B | $231.0M |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $132.0M |
| 自由现金流率自由现金流/营收 | -159.1% | 5.6% |
| 资本支出强度资本支出/营收 | 258.3% | 4.2% |
| 现金转化率经营现金流/净利润 | — | 1.20× |
| 过去12个月自由现金流最近4个季度 | $-7.3B | $586.0M |
8季度趋势，按日历期对齐
经营现金流CRWVNWSA
| Q4 25 | $1.6B | $231.0M | ||
| Q3 25 | $1.7B | $85.0M | ||
| Q2 25 | $-251.3M | $189.0M | ||
| Q1 25 | $61.2M | $511.0M | ||
| Q4 24 | — | $252.0M | ||
| Q3 24 | — | $64.0M | ||
| Q2 24 | — | $254.0M | ||
| Q1 24 | — | $539.0M |
自由现金流CRWVNWSA
| Q4 25 | $-2.5B | $132.0M | ||
| Q3 25 | $-699.8M | $4.0M | ||
| Q2 25 | $-2.7B | $32.0M | ||
| Q1 25 | $-1.3B | $418.0M | ||
| Q4 24 | — | $190.0M | ||
| Q3 24 | — | $-31.0M | ||
| Q2 24 | — | $111.0M | ||
| Q1 24 | — | $422.0M |
自由现金流率CRWVNWSA
| Q4 25 | -159.1% | 5.6% | ||
| Q3 25 | -51.3% | 0.2% | ||
| Q2 25 | -223.0% | 2.0% | ||
| Q1 25 | -137.1% | 20.8% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | -1.2% | ||
| Q2 24 | — | 4.3% | ||
| Q1 24 | — | 17.4% |
资本支出强度CRWVNWSA
| Q4 25 | 258.3% | 4.2% | ||
| Q3 25 | 175.1% | 3.8% | ||
| Q2 25 | 202.3% | 9.6% | ||
| Q1 25 | 143.4% | 4.6% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | 4.8% |
现金转化率CRWVNWSA
| Q4 25 | — | 1.20× | ||
| Q3 25 | — | 0.76× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 4.96× | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 5.08× | ||
| Q1 24 | — | 17.97× |
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
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
NWSA
| Book Publishing Segment | $633.0M | 27% |
| Consumer | $607.0M | 26% |
| News And Information Services Segment | $570.0M | 24% |
| Real Estate | $401.0M | 17% |
| Other Product Or Service | $173.0M | 7% |
