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CoreWeave, Inc.（CRWV）与ROKU, INC（ROKU）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ROKU, INC的1.3倍（$1.6B vs $1.2B），ROKU, INC净利率更高（-2.2% vs -28.7%，领先26.5%），ROKU, INC自由现金流更多（$298.4M 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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
CRWV vs ROKU — 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
ROKU
高出26.5%
-28.7%
自由现金流更多
ROKU
多$2.8B
$-2.5B
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $-451.7M | $-27.4M |
| 毛利率 | 67.6% | 35.6% |
| 营业利润率 | -5.7% | 59.7% |
| 净利率 | -28.7% | -2.2% |
| 营收同比 | — | -18.3% |
| 净利润同比 | — | -361.0% |
| 每股收益（稀释后） | $-0.50 | $0.57 |
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CRWVROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $981.6M | $1.0B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $583.9M | $1.1B | ||
| Q2 24 | $395.4M | $968.2M |
净利润CRWVROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $-451.7M | $80.5M | ||
| Q3 25 | $-110.1M | $24.8M | ||
| Q2 25 | $-290.5M | $10.5M | ||
| Q1 25 | $-314.6M | $-27.4M | ||
| Q4 24 | — | $-35.5M | ||
| Q3 24 | $-359.8M | $-9.0M | ||
| Q2 24 | $-323.0M | $-34.0M |
毛利率CRWVROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 67.6% | 43.5% | ||
| Q3 25 | 73.0% | 43.4% | ||
| Q2 25 | 74.2% | 44.8% | ||
| Q1 25 | 73.3% | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | 75.5% | 45.2% | ||
| Q2 24 | 72.5% | 43.9% |
营业利润率CRWVROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | -5.7% | 4.7% | ||
| Q3 25 | 3.8% | 0.8% | ||
| Q2 25 | 1.6% | -2.1% | ||
| Q1 25 | -2.8% | -5.7% | ||
| Q4 24 | — | -3.3% | ||
| Q3 24 | 20.1% | -3.4% | ||
| Q2 24 | 19.7% | -7.4% |
净利率CRWVROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | -28.7% | 5.8% | ||
| Q3 25 | -8.1% | 2.0% | ||
| Q2 25 | -24.0% | 0.9% | ||
| Q1 25 | -32.1% | -2.7% | ||
| Q4 24 | — | -3.0% | ||
| Q3 24 | -61.6% | -0.9% | ||
| Q2 24 | -81.7% | -3.5% |
每股收益（稀释后）CRWVROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $-0.50 | $0.55 | ||
| Q3 25 | $-0.22 | $0.16 | ||
| Q2 25 | $-0.60 | $0.07 | ||
| Q1 25 | $-1.49 | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | $-1.82 | $-0.06 | ||
| Q2 24 | $-1.62 | $-0.24 |
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 | $2.4B |
| 总债务越低越好 | $21.4B | — |
| 股东权益账面价值 | $3.3B | $2.7B |
| 总资产 | $49.3B | $4.4B |
| 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CRWVROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $3.2B | $2.3B | ||
| Q3 25 | $1.9B | $2.3B | ||
| Q2 25 | $1.2B | $2.3B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.0B | $2.1B |
总债务CRWVROKU
| Q1 26 | — | — | ||
| Q4 25 | $21.4B | — | ||
| Q3 25 | $14.0B | — | ||
| Q2 25 | $11.1B | — | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CRWVROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $3.3B | $2.7B | ||
| Q3 25 | $3.9B | $2.6B | ||
| Q2 25 | $2.7B | $2.6B | ||
| Q1 25 | $1.9B | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | $-344.0M | $2.5B | ||
| Q2 24 | $-1.0B | $2.4B |
总资产CRWVROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $49.3B | $4.4B | ||
| Q3 25 | $32.9B | $4.4B | ||
| Q2 25 | $26.2B | $4.3B | ||
| Q1 25 | $21.9B | $4.2B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.1B |
负债/权益比CRWVROKU
| Q1 26 | — | — | ||
| Q4 25 | 6.41× | — | ||
| Q3 25 | 3.62× | — | ||
| Q2 25 | 4.16× | — | ||
| Q1 25 | 4.57× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $-2.5B | $298.4M |
| 自由现金流率自由现金流/营收 | -159.1% | 23.9% |
| 资本支出强度资本支出/营收 | 258.3% | — |
| 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 | $640.0M |
8季度趋势，按日历期对齐
经营现金流CRWVROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $1.6B | $107.7M | ||
| Q3 25 | $1.7B | $127.6M | ||
| Q2 25 | $-251.3M | $109.7M | ||
| Q1 25 | $61.2M | $138.7M | ||
| Q4 24 | — | $79.3M | ||
| Q3 24 | — | $68.7M | ||
| Q2 24 | — | $23.4M |
自由现金流CRWVROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $-2.5B | $106.6M | ||
| Q3 25 | $-699.8M | $126.5M | ||
| Q2 25 | $-2.7B | $108.6M | ||
| Q1 25 | $-1.3B | $136.8M | ||
| Q4 24 | — | $76.8M | ||
| Q3 24 | — | $67.6M | ||
| Q2 24 | — | $22.5M |
自由现金流率CRWVROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | -159.1% | 7.6% | ||
| Q3 25 | -51.3% | 10.4% | ||
| Q2 25 | -223.0% | 9.8% | ||
| Q1 25 | -137.1% | 13.4% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 2.3% |
资本支出强度CRWVROKU
| Q1 26 | — | — | ||
| Q4 25 | 258.3% | 0.1% | ||
| Q3 25 | 175.1% | 0.1% | ||
| Q2 25 | 202.3% | 0.1% | ||
| Q1 25 | 143.4% | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% |
现金转化率CRWVROKU
| Q1 26 | — | — | ||
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | 5.14× | ||
| Q2 25 | — | 10.45× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
