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CoreWeave, Inc.（CRWV）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
CoreWeave, Inc.的季度营收约是越洋钻探的1.5倍（$1.6B vs $1.0B），越洋钻探净利率更高（2.4% vs -28.7%，领先31.1%），越洋钻探自由现金流更多（$321.0M 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
CRWV vs RIG — 直观对比
营收规模更大
CRWV
是对方的1.5倍
$1.0B
净利率更高
RIG
高出31.1%
-28.7%
自由现金流更多
RIG
多$2.8B
$-2.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.0B |
| 净利润 | $-451.7M | $25.0M |
| 毛利率 | 67.6% | 42.0% |
| 营业利润率 | -5.7% | 23.0% |
| 净利率 | -28.7% | 2.4% |
| 营收同比 | — | 9.6% |
| 净利润同比 | — | 257.1% |
| 每股收益（稀释后） | $-0.50 | $0.13 |
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CRWVRIG
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.4B | $1.0B | ||
| Q2 25 | $1.2B | $988.0M | ||
| Q1 25 | $981.6M | $906.0M | ||
| Q4 24 | — | $952.0M | ||
| Q3 24 | $583.9M | $948.0M | ||
| Q2 24 | $395.4M | $861.0M | ||
| Q1 24 | — | $763.0M |
净利润CRWVRIG
| Q4 25 | $-451.7M | $25.0M | ||
| Q3 25 | $-110.1M | $-1.9B | ||
| Q2 25 | $-290.5M | $-938.0M | ||
| Q1 25 | $-314.6M | $-79.0M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | $-359.8M | $-494.0M | ||
| Q2 24 | $-323.0M | $-123.0M | ||
| Q1 24 | — | $98.0M |
毛利率CRWVRIG
| Q4 25 | 67.6% | 42.0% | ||
| Q3 25 | 73.0% | 43.2% | ||
| Q2 25 | 74.2% | 39.4% | ||
| Q1 25 | 73.3% | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | 75.5% | 40.6% | ||
| Q2 24 | 72.5% | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率CRWVRIG
| Q4 25 | -5.7% | 23.0% | ||
| Q3 25 | 3.8% | -163.1% | ||
| Q2 25 | 1.6% | -97.6% | ||
| Q1 25 | -2.8% | 7.1% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | 20.1% | -51.2% | ||
| Q2 24 | 19.7% | -6.9% | ||
| Q1 24 | — | -0.4% |
净利率CRWVRIG
| Q4 25 | -28.7% | 2.4% | ||
| Q3 25 | -8.1% | -187.1% | ||
| Q2 25 | -24.0% | -94.9% | ||
| Q1 25 | -32.1% | -8.7% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | -61.6% | -52.1% | ||
| Q2 24 | -81.7% | -14.3% | ||
| Q1 24 | — | 12.8% |
每股收益（稀释后）CRWVRIG
| Q4 25 | $-0.50 | $0.13 | ||
| Q3 25 | $-0.22 | $-2.00 | ||
| Q2 25 | $-0.60 | $-1.06 | ||
| Q1 25 | $-1.49 | $-0.11 | ||
| Q4 24 | — | $-0.14 | ||
| Q3 24 | $-1.82 | $-0.58 | ||
| Q2 24 | $-1.62 | $-0.15 | ||
| Q1 24 | — | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $21.4B | $5.2B |
| 股东权益账面价值 | $3.3B | $8.1B |
| 总资产 | $49.3B | $15.6B |
| 负债/权益比越低杠杆越低 | 6.41× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资CRWVRIG
| Q4 25 | $3.2B | $620.0M | ||
| Q3 25 | $1.9B | $833.0M | ||
| Q2 25 | $1.2B | $377.0M | ||
| Q1 25 | $1.3B | $263.0M | ||
| Q4 24 | — | $560.0M | ||
| Q3 24 | $1.4B | $435.0M | ||
| Q2 24 | $1.0B | $475.0M | ||
| Q1 24 | — | $446.0M |
总债务CRWVRIG
| Q4 25 | $21.4B | $5.2B | ||
| Q3 25 | $14.0B | $4.8B | ||
| Q2 25 | $11.1B | $5.9B | ||
| Q1 25 | $8.7B | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益CRWVRIG
| Q4 25 | $3.3B | $8.1B | ||
| Q3 25 | $3.9B | $8.1B | ||
| Q2 25 | $2.7B | $9.4B | ||
| Q1 25 | $1.9B | $10.2B | ||
| Q4 24 | — | $10.3B | ||
| Q3 24 | $-344.0M | $10.2B | ||
| Q2 24 | $-1.0B | $10.7B | ||
| Q1 24 | — | $10.5B |
总资产CRWVRIG
| Q4 25 | $49.3B | $15.6B | ||
| Q3 25 | $32.9B | $16.2B | ||
| Q2 25 | $26.2B | $17.8B | ||
| Q1 25 | $21.9B | $19.0B | ||
| Q4 24 | — | $19.4B | ||
| Q3 24 | — | $19.5B | ||
| Q2 24 | — | $20.3B | ||
| Q1 24 | — | $19.9B |
负债/权益比CRWVRIG
| Q4 25 | 6.41× | 0.64× | ||
| Q3 25 | 3.62× | 0.60× | ||
| Q2 25 | 4.16× | 0.63× | ||
| Q1 25 | 4.57× | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | — | 0.65× |
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 | $349.0M |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $321.0M |
| 自由现金流率自由现金流/营收 | -159.1% | 30.8% |
| 资本支出强度资本支出/营收 | 258.3% | 2.7% |
| 现金转化率经营现金流/净利润 | — | 13.96× |
| 过去12个月自由现金流最近4个季度 | $-7.3B | $626.0M |
8季度趋势，按日历期对齐
经营现金流CRWVRIG
| Q4 25 | $1.6B | $349.0M | ||
| Q3 25 | $1.7B | $246.0M | ||
| Q2 25 | $-251.3M | $128.0M | ||
| Q1 25 | $61.2M | $26.0M | ||
| Q4 24 | — | $206.0M | ||
| Q3 24 | — | $194.0M | ||
| Q2 24 | — | $133.0M | ||
| Q1 24 | — | $-86.0M |
自由现金流CRWVRIG
| Q4 25 | $-2.5B | $321.0M | ||
| Q3 25 | $-699.8M | $235.0M | ||
| Q2 25 | $-2.7B | $104.0M | ||
| Q1 25 | $-1.3B | $-34.0M | ||
| Q4 24 | — | $177.0M | ||
| Q3 24 | — | $136.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | $-169.0M |
自由现金流率CRWVRIG
| Q4 25 | -159.1% | 30.8% | ||
| Q3 25 | -51.3% | 22.9% | ||
| Q2 25 | -223.0% | 10.5% | ||
| Q1 25 | -137.1% | -3.8% | ||
| Q4 24 | — | 18.6% | ||
| Q3 24 | — | 14.3% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | -22.1% |
资本支出强度CRWVRIG
| Q4 25 | 258.3% | 2.7% | ||
| Q3 25 | 175.1% | 1.1% | ||
| Q2 25 | 202.3% | 2.4% | ||
| Q1 25 | 143.4% | 6.6% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | — | 6.1% | ||
| Q2 24 | — | 9.8% | ||
| Q1 24 | — | 10.9% |
现金转化率CRWVRIG
| Q4 25 | — | 13.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 29.43× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
