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CoreWeave, Inc.（CRWV）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
Rocket Companies, Inc.的季度营收约是CoreWeave, Inc.的1.7倍（$2.7B vs $1.6B），Rocket Companies, Inc.净利率更高（2.5% vs -28.7%，领先31.3%），Rocket Companies, Inc.自由现金流更多（$-1.3B 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。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
CRWV vs RKT — 直观对比
营收规模更大
RKT
是对方的1.7倍
$1.6B
净利率更高
RKT
高出31.3%
-28.7%
自由现金流更多
RKT
多$1.2B
$-2.5B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $2.7B |
| 净利润 | $-451.7M | $68.0M |
| 毛利率 | 67.6% | — |
| 营业利润率 | -5.7% | 6.3% |
| 净利率 | -28.7% | 2.5% |
| 营收同比 | — | 52.2% |
| 净利润同比 | — | 100.8% |
| 每股收益（稀释后） | $-0.50 | $0.10 |
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CRWVRKT
| Q4 25 | $1.6B | $2.7B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $981.6M | $1.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $583.9M | $646.9M | ||
| Q2 24 | $395.4M | $1.3B | ||
| Q1 24 | — | $1.4B |
净利润CRWVRKT
| Q4 25 | $-451.7M | $68.0M | ||
| Q3 25 | $-110.1M | $-123.9M | ||
| Q2 25 | $-290.5M | $-1.8M | ||
| Q1 25 | $-314.6M | $-10.4M | ||
| Q4 24 | — | $33.9M | ||
| Q3 24 | $-359.8M | $-22.0M | ||
| Q2 24 | $-323.0M | $1.3M | ||
| Q1 24 | — | $16.2M |
毛利率CRWVRKT
| Q4 25 | 67.6% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | — | 58.9% | ||
| Q3 24 | 75.5% | -8.4% | ||
| Q2 24 | 72.5% | 47.4% | ||
| Q1 24 | — | 51.2% |
营业利润率CRWVRKT
| Q4 25 | -5.7% | 6.3% | ||
| Q3 25 | 3.8% | -11.5% | ||
| Q2 25 | 1.6% | 1.8% | ||
| Q1 25 | -2.8% | -21.5% | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | 20.1% | -76.9% | ||
| Q2 24 | 19.7% | 14.8% | ||
| Q1 24 | — | 21.6% |
净利率CRWVRKT
| Q4 25 | -28.7% | 2.5% | ||
| Q3 25 | -8.1% | -7.7% | ||
| Q2 25 | -24.0% | -0.1% | ||
| Q1 25 | -32.1% | -1.0% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | -61.6% | -3.4% | ||
| Q2 24 | -81.7% | 0.1% | ||
| Q1 24 | — | 1.2% |
每股收益（稀释后）CRWVRKT
| Q4 25 | $-0.50 | $0.10 | ||
| Q3 25 | $-0.22 | $-0.06 | ||
| Q2 25 | $-0.60 | $-0.01 | ||
| Q1 25 | $-1.49 | $-0.08 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | $-1.82 | $-0.19 | ||
| Q2 24 | $-1.62 | $0.01 | ||
| 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 | $2.7B |
| 总债务越低越好 | $21.4B | — |
| 股东权益账面价值 | $3.3B | $22.9B |
| 总资产 | $49.3B | $60.7B |
| 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CRWVRKT
| Q4 25 | $3.2B | $2.7B | ||
| Q3 25 | $1.9B | $5.8B | ||
| Q2 25 | $1.2B | $5.1B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | — | $861.4M |
总债务CRWVRKT
| 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CRWVRKT
| Q4 25 | $3.3B | $22.9B | ||
| Q3 25 | $3.9B | $8.9B | ||
| Q2 25 | $2.7B | $7.4B | ||
| Q1 25 | $1.9B | $8.6B | ||
| Q4 24 | — | $9.0B | ||
| Q3 24 | $-344.0M | $8.4B | ||
| Q2 24 | $-1.0B | $8.8B | ||
| Q1 24 | — | $8.6B |
总资产CRWVRKT
| Q4 25 | $49.3B | $60.7B | ||
| Q3 25 | $32.9B | $33.6B | ||
| Q2 25 | $26.2B | $30.4B | ||
| Q1 25 | $21.9B | $25.3B | ||
| Q4 24 | — | $24.5B | ||
| Q3 24 | — | $25.1B | ||
| Q2 24 | — | $23.6B | ||
| Q1 24 | — | $22.2B |
负债/权益比CRWVRKT
| 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 | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $-1.3B |
| 自由现金流率自由现金流/营收 | -159.1% | -47.2% |
| 资本支出强度资本支出/营收 | 258.3% | 1.5% |
| 现金转化率经营现金流/净利润 | — | -18.08× |
| 过去12个月自由现金流最近4个季度 | $-7.3B | $-4.0B |
8季度趋势，按日历期对齐
经营现金流CRWVRKT
| Q4 25 | $1.6B | $-1.2B | ||
| Q3 25 | $1.7B | $-50.3M | ||
| Q2 25 | $-251.3M | $-1.9B | ||
| Q1 25 | $61.2M | $-797.0M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $-1.3B | ||
| Q2 24 | — | $-122.3M | ||
| Q1 24 | — | $-3.0B |
自由现金流CRWVRKT
| Q4 25 | $-2.5B | $-1.3B | ||
| Q3 25 | $-699.8M | $-71.8M | ||
| Q2 25 | $-2.7B | $-1.9B | ||
| Q1 25 | $-1.3B | $-811.0M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $-1.4B | ||
| Q2 24 | — | $-138.3M | ||
| Q1 24 | — | $-3.0B |
自由现金流率CRWVRKT
| Q4 25 | -159.1% | -47.2% | ||
| Q3 25 | -51.3% | -4.5% | ||
| Q2 25 | -223.0% | -137.2% | ||
| Q1 25 | -137.1% | -78.2% | ||
| Q4 24 | — | 103.1% | ||
| Q3 24 | — | -209.6% | ||
| Q2 24 | — | -10.6% | ||
| Q1 24 | — | -218.7% |
资本支出强度CRWVRKT
| Q4 25 | 258.3% | 1.5% | ||
| Q3 25 | 175.1% | 1.3% | ||
| Q2 25 | 202.3% | 1.1% | ||
| Q1 25 | 143.4% | 1.4% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.0% |
现金转化率CRWVRKT
| Q4 25 | — | -18.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 54.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -94.46× | ||
| Q1 24 | — | -185.80× |
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% |
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
