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CoreWeave, Inc.（CRWV）与帕兰提尔科技（PLTR）财务数据对比。点击上方公司名可切换其他公司
CoreWeave, Inc.的季度营收约是帕兰提尔科技的1.1倍（$1.6B vs $1.4B），帕兰提尔科技净利率更高（43.3% vs -28.7%，领先72.0%），帕兰提尔科技自由现金流更多（$764.0M 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。
帕兰提尔科技是美国上市企业，专注研发数据集成与分析平台，为政府机构、军方及各行业企业提供多源数据整合分析能力。旗下核心产品Gotham与Foundry可打通相互孤立的数据库，广泛支撑情报作业、反恐分析、执法工作及企业级数据分析场景。
CRWV vs PLTR — 直观对比
营收规模更大
CRWV
是对方的1.1倍
$1.4B
净利率更高
PLTR
高出72.0%
-28.7%
自由现金流更多
PLTR
多$3.3B
$-2.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.4B |
| 净利润 | $-451.7M | $608.7M |
| 毛利率 | 67.6% | 84.6% |
| 营业利润率 | -5.7% | 40.9% |
| 净利率 | -28.7% | 43.3% |
| 营收同比 | — | 70.0% |
| 净利润同比 | — | 670.4% |
| 每股收益（稀释后） | $-0.50 | $0.24 |
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CRWVPLTR
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $981.6M | $883.9M | ||
| Q4 24 | — | $827.5M | ||
| Q3 24 | $583.9M | $725.5M | ||
| Q2 24 | $395.4M | $678.1M | ||
| Q1 24 | — | $634.3M |
净利润CRWVPLTR
| Q4 25 | $-451.7M | $608.7M | ||
| Q3 25 | $-110.1M | $475.6M | ||
| Q2 25 | $-290.5M | $326.7M | ||
| Q1 25 | $-314.6M | $214.0M | ||
| Q4 24 | — | $79.0M | ||
| Q3 24 | $-359.8M | $143.5M | ||
| Q2 24 | $-323.0M | $134.1M | ||
| Q1 24 | — | $105.5M |
毛利率CRWVPLTR
| Q4 25 | 67.6% | 84.6% | ||
| Q3 25 | 73.0% | 82.4% | ||
| Q2 25 | 74.2% | 80.8% | ||
| Q1 25 | 73.3% | 80.4% | ||
| Q4 24 | — | 78.9% | ||
| Q3 24 | 75.5% | 79.8% | ||
| Q2 24 | 72.5% | 81.0% | ||
| Q1 24 | — | 81.7% |
营业利润率CRWVPLTR
| Q4 25 | -5.7% | 40.9% | ||
| Q3 25 | 3.8% | 33.3% | ||
| Q2 25 | 1.6% | 26.8% | ||
| Q1 25 | -2.8% | 19.9% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | 20.1% | 15.6% | ||
| Q2 24 | 19.7% | 15.5% | ||
| Q1 24 | — | 12.8% |
净利率CRWVPLTR
| Q4 25 | -28.7% | 43.3% | ||
| Q3 25 | -8.1% | 40.3% | ||
| Q2 25 | -24.0% | 32.6% | ||
| Q1 25 | -32.1% | 24.2% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | -61.6% | 19.8% | ||
| Q2 24 | -81.7% | 19.8% | ||
| Q1 24 | — | 16.6% |
每股收益（稀释后）CRWVPLTR
| Q4 25 | $-0.50 | $0.24 | ||
| Q3 25 | $-0.22 | $0.18 | ||
| Q2 25 | $-0.60 | $0.13 | ||
| Q1 25 | $-1.49 | $0.08 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | $-1.82 | $0.06 | ||
| Q2 24 | $-1.62 | $0.06 | ||
| Q1 24 | — | $0.04 |
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 | $7.2B |
| 总债务越低越好 | $21.4B | — |
| 股东权益账面价值 | $3.3B | $7.4B |
| 总资产 | $49.3B | $8.9B |
| 负债/权益比越低杠杆越低 | 6.41× | — |
8季度趋势，按日历期对齐
现金及短期投资CRWVPLTR
| Q4 25 | $3.2B | $7.2B | ||
| Q3 25 | $1.9B | $6.4B | ||
| Q2 25 | $1.2B | $6.0B | ||
| Q1 25 | $1.3B | $5.4B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $1.4B | $4.6B | ||
| Q2 24 | $1.0B | $4.0B | ||
| Q1 24 | — | $3.9B |
总债务CRWVPLTR
| Q4 25 | $21.4B | — | ||
| Q3 25 | $14.0B | — | ||
| Q2 25 | $11.1B | — | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CRWVPLTR
| Q4 25 | $3.3B | $7.4B | ||
| Q3 25 | $3.9B | $6.6B | ||
| Q2 25 | $2.7B | $5.9B | ||
| Q1 25 | $1.9B | $5.4B | ||
| Q4 24 | — | $5.0B | ||
| Q3 24 | $-344.0M | $4.5B | ||
| Q2 24 | $-1.0B | $4.1B | ||
| Q1 24 | — | $3.8B |
总资产CRWVPLTR
| Q4 25 | $49.3B | $8.9B | ||
| Q3 25 | $32.9B | $8.1B | ||
| Q2 25 | $26.2B | $7.4B | ||
| Q1 25 | $21.9B | $6.7B | ||
| Q4 24 | — | $6.3B | ||
| Q3 24 | — | $5.8B | ||
| Q2 24 | — | $5.2B | ||
| Q1 24 | — | $4.8B |
负债/权益比CRWVPLTR
| Q4 25 | 6.41× | — | ||
| Q3 25 | 3.62× | — | ||
| Q2 25 | 4.16× | — | ||
| Q1 25 | 4.57× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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 | $1.6B | $777.3M |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $764.0M |
| 自由现金流率自由现金流/营收 | -159.1% | 54.3% |
| 资本支出强度资本支出/营收 | 258.3% | 0.9% |
| 现金转化率经营现金流/净利润 | — | 1.28× |
| 过去12个月自由现金流最近4个季度 | $-7.3B | $2.1B |
8季度趋势，按日历期对齐
经营现金流CRWVPLTR
| Q4 25 | $1.6B | $777.3M | ||
| Q3 25 | $1.7B | $507.7M | ||
| Q2 25 | $-251.3M | $539.3M | ||
| Q1 25 | $61.2M | $310.3M | ||
| Q4 24 | — | $460.3M | ||
| Q3 24 | — | $419.8M | ||
| Q2 24 | — | $144.2M | ||
| Q1 24 | — | $129.6M |
自由现金流CRWVPLTR
| Q4 25 | $-2.5B | $764.0M | ||
| Q3 25 | $-699.8M | $500.9M | ||
| Q2 25 | $-2.7B | $531.6M | ||
| Q1 25 | $-1.3B | $304.1M | ||
| Q4 24 | — | $457.2M | ||
| Q3 24 | — | $415.8M | ||
| Q2 24 | — | $141.3M | ||
| Q1 24 | — | $126.9M |
自由现金流率CRWVPLTR
| Q4 25 | -159.1% | 54.3% | ||
| Q3 25 | -51.3% | 42.4% | ||
| Q2 25 | -223.0% | 53.0% | ||
| Q1 25 | -137.1% | 34.4% | ||
| Q4 24 | — | 55.3% | ||
| Q3 24 | — | 57.3% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 20.0% |
资本支出强度CRWVPLTR
| Q4 25 | 258.3% | 0.9% | ||
| Q3 25 | 175.1% | 0.6% | ||
| Q2 25 | 202.3% | 0.8% | ||
| Q1 25 | 143.4% | 0.7% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.4% |
现金转化率CRWVPLTR
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 1.45× | ||
| Q4 24 | — | 5.83× | ||
| Q3 24 | — | 2.92× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.23× |
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% |
PLTR
| Geographic Concentration Risk | $1.1B | 77% |
| Other | $330.4M | 23% |
