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CoreWeave, Inc.（CRWV）与Rivian Automotive, Inc.（RIVN）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Rivian Automotive, Inc.的1.2倍（$1.6B vs $1.3B），CoreWeave, Inc.净利率更高（-28.7% vs -63.1%，领先34.3%），Rivian Automotive, Inc.自由现金流更多（$-1.1B 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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
CRWV vs RIVN — 直观对比
营收规模更大
CRWV
是对方的1.2倍
$1.3B
净利率更高
CRWV
高出34.3%
-63.1%
自由现金流更多
RIVN
多$1.4B
$-2.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.3B |
| 净利润 | $-451.7M | $-811.0M |
| 毛利率 | 67.6% | 9.3% |
| 营业利润率 | -5.7% | -64.8% |
| 净利率 | -28.7% | -63.1% |
| 营收同比 | — | -25.8% |
| 净利润同比 | — | -9.0% |
| 每股收益（稀释后） | $-0.50 | $-0.66 |
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CRWVRIVN
| Q4 25 | $1.6B | $1.3B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $981.6M | $1.2B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $583.9M | $874.0M | ||
| Q2 24 | $395.4M | $1.2B | ||
| Q1 24 | — | $1.2B |
净利润CRWVRIVN
| Q4 25 | $-451.7M | $-811.0M | ||
| Q3 25 | $-110.1M | $-1.2B | ||
| Q2 25 | $-290.5M | $-1.1B | ||
| Q1 25 | $-314.6M | $-545.0M | ||
| Q4 24 | — | $-744.0M | ||
| Q3 24 | $-359.8M | $-1.1B | ||
| Q2 24 | $-323.0M | $-1.5B | ||
| Q1 24 | — | $-1.4B |
毛利率CRWVRIVN
| Q4 25 | 67.6% | 9.3% | ||
| Q3 25 | 73.0% | 1.5% | ||
| Q2 25 | 74.2% | -15.8% | ||
| Q1 25 | 73.3% | 16.6% | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | 75.5% | -44.9% | ||
| Q2 24 | 72.5% | -38.9% | ||
| Q1 24 | — | -43.8% |
营业利润率CRWVRIVN
| Q4 25 | -5.7% | -64.8% | ||
| Q3 25 | 3.8% | -63.1% | ||
| Q2 25 | 1.6% | -85.5% | ||
| Q1 25 | -2.8% | -52.8% | ||
| Q4 24 | — | -38.1% | ||
| Q3 24 | 20.1% | -133.8% | ||
| Q2 24 | 19.7% | -118.7% | ||
| Q1 24 | — | -123.3% |
净利率CRWVRIVN
| Q4 25 | -28.7% | -63.1% | ||
| Q3 25 | -8.1% | -75.3% | ||
| Q2 25 | -24.0% | -85.7% | ||
| Q1 25 | -32.1% | -44.0% | ||
| Q4 24 | — | -42.9% | ||
| Q3 24 | -61.6% | -125.9% | ||
| Q2 24 | -81.7% | -125.8% | ||
| Q1 24 | — | -120.1% |
每股收益（稀释后）CRWVRIVN
| Q4 25 | $-0.50 | $-0.66 | ||
| Q3 25 | $-0.22 | $-0.96 | ||
| Q2 25 | $-0.60 | $-0.97 | ||
| Q1 25 | $-1.49 | $-0.48 | ||
| Q4 24 | — | $-0.67 | ||
| Q3 24 | $-1.82 | $-1.08 | ||
| Q2 24 | $-1.62 | $-1.46 | ||
| Q1 24 | — | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $21.4B | — |
| 股东权益账面价值 | $3.3B | $4.6B |
| 总资产 | $49.3B | $14.9B |
| 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CRWVRIVN
| Q4 25 | $3.2B | $6.1B | ||
| Q3 25 | $1.9B | $7.1B | ||
| Q2 25 | $1.2B | $7.5B | ||
| Q1 25 | $1.3B | $7.2B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | $1.4B | $6.7B | ||
| Q2 24 | $1.0B | $7.9B | ||
| Q1 24 | — | $7.9B |
总债务CRWVRIVN
| Q4 25 | $21.4B | — | ||
| Q3 25 | $14.0B | — | ||
| Q2 25 | $11.1B | — | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益CRWVRIVN
| Q4 25 | $3.3B | $4.6B | ||
| Q3 25 | $3.9B | $5.1B | ||
| Q2 25 | $2.7B | $6.1B | ||
| Q1 25 | $1.9B | $6.2B | ||
| Q4 24 | — | $6.6B | ||
| Q3 24 | $-344.0M | $5.9B | ||
| Q2 24 | $-1.0B | $6.8B | ||
| Q1 24 | — | $8.1B |
总资产CRWVRIVN
| Q4 25 | $49.3B | $14.9B | ||
| Q3 25 | $32.9B | $15.2B | ||
| Q2 25 | $26.2B | $15.6B | ||
| Q1 25 | $21.9B | $15.5B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $14.3B | ||
| Q2 24 | — | $15.4B | ||
| Q1 24 | — | $15.7B |
负债/权益比CRWVRIVN
| Q4 25 | 6.41× | — | ||
| Q3 25 | 3.62× | — | ||
| Q2 25 | 4.16× | — | ||
| Q1 25 | 4.57× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $-1.1B |
| 自由现金流率自由现金流/营收 | -159.1% | -89.0% |
| 资本支出强度资本支出/营收 | 258.3% | 36.0% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-7.3B | $-2.5B |
8季度趋势，按日历期对齐
经营现金流CRWVRIVN
| Q4 25 | $1.6B | $-681.0M | ||
| Q3 25 | $1.7B | $26.0M | ||
| Q2 25 | $-251.3M | $64.0M | ||
| Q1 25 | $61.2M | $-188.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $-876.0M | ||
| Q2 24 | — | $-754.0M | ||
| Q1 24 | — | $-1.3B |
自由现金流CRWVRIVN
| Q4 25 | $-2.5B | $-1.1B | ||
| Q3 25 | $-699.8M | $-421.0M | ||
| Q2 25 | $-2.7B | $-398.0M | ||
| Q1 25 | $-1.3B | $-526.0M | ||
| Q4 24 | — | $856.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-1.0B | ||
| Q1 24 | — | $-1.5B |
自由现金流率CRWVRIVN
| Q4 25 | -159.1% | -89.0% | ||
| Q3 25 | -51.3% | -27.0% | ||
| Q2 25 | -223.0% | -30.5% | ||
| Q1 25 | -137.1% | -42.4% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | -131.9% | ||
| Q2 24 | — | -89.6% | ||
| Q1 24 | — | -126.5% |
资本支出强度CRWVRIVN
| Q4 25 | 258.3% | 36.0% | ||
| Q3 25 | 175.1% | 28.7% | ||
| Q2 25 | 202.3% | 35.5% | ||
| Q1 25 | 143.4% | 27.3% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 24.4% | ||
| Q1 24 | — | 21.1% |
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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
