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CoreWeave, Inc.（CRWV）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
CoreWeave, Inc.的季度营收约是利氏兄弟拍卖行的1.3倍（$1.6B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs -28.7%，领先37.9%），利氏兄弟拍卖行自由现金流更多（$186.5M 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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
CRWV vs RBA — 直观对比
营收规模更大
CRWV
是对方的1.3倍
$1.2B
净利率更高
RBA
高出37.9%
-28.7%
自由现金流更多
RBA
多$2.7B
$-2.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $-451.7M | $109.7M |
| 毛利率 | 67.6% | — |
| 营业利润率 | -5.7% | 14.7% |
| 净利率 | -28.7% | 9.1% |
| 营收同比 | — | 5.4% |
| 净利润同比 | — | -7.4% |
| 每股收益（稀释后） | $-0.50 | $0.53 |
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CRWVRBA
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $981.6M | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $583.9M | $981.8M | ||
| Q2 24 | $395.4M | $1.1B | ||
| Q1 24 | — | $1.1B |
净利润CRWVRBA
| Q4 25 | $-451.7M | $109.7M | ||
| Q3 25 | $-110.1M | $95.5M | ||
| Q2 25 | $-290.5M | $109.8M | ||
| Q1 25 | $-314.6M | $113.4M | ||
| Q4 24 | — | $118.5M | ||
| Q3 24 | $-359.8M | $76.1M | ||
| Q2 24 | $-323.0M | $111.1M | ||
| Q1 24 | — | $107.4M |
毛利率CRWVRBA
| 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CRWVRBA
| Q4 25 | -5.7% | 14.7% | ||
| Q3 25 | 3.8% | 14.5% | ||
| Q2 25 | 1.6% | 15.9% | ||
| Q1 25 | -2.8% | 17.1% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 20.1% | 15.6% | ||
| Q2 24 | 19.7% | 18.4% | ||
| Q1 24 | — | 18.7% |
净利率CRWVRBA
| Q4 25 | -28.7% | 9.1% | ||
| Q3 25 | -8.1% | 8.7% | ||
| Q2 25 | -24.0% | 9.3% | ||
| Q1 25 | -32.1% | 10.2% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | -61.6% | 7.8% | ||
| Q2 24 | -81.7% | 10.1% | ||
| Q1 24 | — | 10.1% |
每股收益（稀释后）CRWVRBA
| Q4 25 | $-0.50 | $0.53 | ||
| Q3 25 | $-0.22 | $0.43 | ||
| Q2 25 | $-0.60 | $0.53 | ||
| Q1 25 | $-1.49 | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | $-1.82 | $0.36 | ||
| Q2 24 | $-1.62 | $0.54 | ||
| Q1 24 | — | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $21.4B | $2.3B |
| 股东权益账面价值 | $3.3B | $5.6B |
| 总资产 | $49.3B | $12.1B |
| 负债/权益比越低杠杆越低 | 6.41× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CRWVRBA
| Q4 25 | $3.2B | $531.5M | ||
| Q3 25 | $1.9B | $674.7M | ||
| Q2 25 | $1.2B | $710.2M | ||
| Q1 25 | $1.3B | $578.1M | ||
| Q4 24 | — | $533.9M | ||
| Q3 24 | $1.4B | $650.7M | ||
| Q2 24 | $1.0B | $599.5M | ||
| Q1 24 | — | $462.8M |
总债务CRWVRBA
| Q4 25 | $21.4B | $2.3B | ||
| Q3 25 | $14.0B | $2.6B | ||
| Q2 25 | $11.1B | $2.6B | ||
| Q1 25 | $8.7B | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益CRWVRBA
| Q4 25 | $3.3B | $5.6B | ||
| Q3 25 | $3.9B | $5.5B | ||
| Q2 25 | $2.7B | $5.5B | ||
| Q1 25 | $1.9B | $5.3B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $-344.0M | $5.2B | ||
| Q2 24 | $-1.0B | $5.2B | ||
| Q1 24 | — | $5.1B |
总资产CRWVRBA
| Q4 25 | $49.3B | $12.1B | ||
| Q3 25 | $32.9B | $12.2B | ||
| Q2 25 | $26.2B | $12.2B | ||
| Q1 25 | $21.9B | $11.9B | ||
| Q4 24 | — | $11.8B | ||
| Q3 24 | — | $11.9B | ||
| Q2 24 | — | $12.1B | ||
| Q1 24 | — | $12.0B |
负债/权益比CRWVRBA
| Q4 25 | 6.41× | 0.42× | ||
| Q3 25 | 3.62× | 0.47× | ||
| Q2 25 | 4.16× | 0.47× | ||
| Q1 25 | 4.57× | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | — | 0.58× |
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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $186.5M |
| 自由现金流率自由现金流/营收 | -159.1% | 15.5% |
| 资本支出强度资本支出/营收 | 258.3% | 5.7% |
| 现金转化率经营现金流/净利润 | — | 2.33× |
| 过去12个月自由现金流最近4个季度 | $-7.3B | $719.2M |
8季度趋势，按日历期对齐
经营现金流CRWVRBA
| Q4 25 | $1.6B | $255.2M | ||
| Q3 25 | $1.7B | $239.7M | ||
| Q2 25 | $-251.3M | $326.5M | ||
| Q1 25 | $61.2M | $156.8M | ||
| Q4 24 | — | $184.5M | ||
| Q3 24 | — | $285.4M | ||
| Q2 24 | — | $337.3M | ||
| Q1 24 | — | $124.8M |
自由现金流CRWVRBA
| Q4 25 | $-2.5B | $186.5M | ||
| Q3 25 | $-699.8M | $188.5M | ||
| Q2 25 | $-2.7B | $241.7M | ||
| Q1 25 | $-1.3B | $102.5M | ||
| Q4 24 | — | $127.9M | ||
| Q3 24 | — | $248.5M | ||
| Q2 24 | — | $308.6M | ||
| Q1 24 | — | $79.6M |
自由现金流率CRWVRBA
| Q4 25 | -159.1% | 15.5% | ||
| Q3 25 | -51.3% | 17.3% | ||
| Q2 25 | -223.0% | 20.4% | ||
| Q1 25 | -137.1% | 9.2% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 7.5% |
资本支出强度CRWVRBA
| Q4 25 | 258.3% | 5.7% | ||
| Q3 25 | 175.1% | 4.7% | ||
| Q2 25 | 202.3% | 7.2% | ||
| Q1 25 | 143.4% | 4.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 4.2% |
现金转化率CRWVRBA
| Q4 25 | — | 2.33× | ||
| Q3 25 | — | 2.51× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 1.38× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | — | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
