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QWEST CORP（CTBB）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
ROKU, INC的季度营收约是QWEST CORP的1.1倍（$1.2B vs $1.1B），ROKU, INC净利率更高（-2.2% vs -187.5%，领先185.3%），QWEST CORP同比增速更快（-15.0% vs -18.3%），ROKU, INC自由现金流更多（$298.4M vs $160.0M），过去两年ROKU, INC的营收复合增速更高（13.6% vs -8.6%）
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
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。
CTBB vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.1倍
$1.1B
营收增速更快
CTBB
高出3.2%
-18.3%
净利率更高
ROKU
高出185.3%
-187.5%
自由现金流更多
ROKU
多$138.4M
$160.0M
两年增速更快
ROKU
近两年复合增速
-8.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $-2.1B | $-27.4M |
| 毛利率 | 67.9% | 35.6% |
| 营业利润率 | -183.2% | 59.7% |
| 净利率 | -187.5% | -2.2% |
| 营收同比 | -15.0% | -18.3% |
| 净利润同比 | -627.9% | -361.0% |
| 每股收益（稀释后） | — | $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CTBBROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.3B | $968.2M |
净利润CTBBROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $-2.1B | $80.5M | ||
| Q3 25 | $176.0M | $24.8M | ||
| Q2 25 | $277.0M | $10.5M | ||
| Q1 25 | $284.0M | $-27.4M | ||
| Q4 24 | $391.0M | $-35.5M | ||
| Q3 24 | $365.0M | $-9.0M | ||
| Q2 24 | $378.0M | $-34.0M |
毛利率CTBBROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 67.9% | 43.5% | ||
| Q3 25 | 65.3% | 43.4% | ||
| Q2 25 | 68.2% | 44.8% | ||
| Q1 25 | 69.3% | 43.6% | ||
| Q4 24 | 71.2% | 42.7% | ||
| Q3 24 | 69.9% | 45.2% | ||
| Q2 24 | 71.6% | 43.9% |
营业利润率CTBBROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | -183.2% | 4.7% | ||
| Q3 25 | 22.3% | 0.8% | ||
| Q2 25 | 33.1% | -2.1% | ||
| Q1 25 | 33.7% | -5.7% | ||
| Q4 24 | 40.7% | -3.3% | ||
| Q3 24 | 38.5% | -3.4% | ||
| Q2 24 | 40.3% | -7.4% |
净利率CTBBROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | -187.5% | 5.8% | ||
| Q3 25 | 16.1% | 2.0% | ||
| Q2 25 | 24.3% | 0.9% | ||
| Q1 25 | 24.7% | -2.7% | ||
| Q4 24 | 30.2% | -3.0% | ||
| Q3 24 | 28.2% | -0.9% | ||
| Q2 24 | 28.7% | -3.5% |
每股收益（稀释后）CTBBROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | — | $0.55 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-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 | $39.0M | $2.4B |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $10.9B | $2.7B |
| 总资产 | $15.8B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资CTBBROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $39.0M | $2.3B | ||
| Q3 25 | $36.0M | $2.3B | ||
| Q2 25 | $25.0M | $2.3B | ||
| Q1 25 | $40.0M | $2.3B | ||
| Q4 24 | $26.0M | $2.2B | ||
| Q3 24 | $22.0M | $2.1B | ||
| Q2 24 | $18.0M | $2.1B |
总债务CTBBROKU
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.9B | — |
股东权益CTBBROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $10.9B | $2.7B | ||
| Q3 25 | $13.0B | $2.6B | ||
| Q2 25 | $12.8B | $2.6B | ||
| Q1 25 | $12.5B | $2.5B | ||
| Q4 24 | $12.2B | $2.5B | ||
| Q3 24 | $11.9B | $2.5B | ||
| Q2 24 | $11.5B | $2.4B |
总资产CTBBROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $15.8B | $4.4B | ||
| Q3 25 | $17.9B | $4.4B | ||
| Q2 25 | $17.8B | $4.3B | ||
| Q1 25 | $17.6B | $4.2B | ||
| Q4 24 | $17.4B | $4.3B | ||
| Q3 24 | $17.0B | $4.3B | ||
| Q2 24 | $16.6B | $4.1B |
负债/权益比CTBBROKU
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.13× | — | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.17× | — |
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 | $402.0M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $160.0M | $298.4M |
| 自由现金流率自由现金流/营收 | 14.5% | 23.9% |
| 资本支出强度资本支出/营收 | 22.0% | — |
| 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 | $938.0M | $640.0M |
8季度趋势，按日历期对齐
经营现金流CTBBROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $402.0M | $107.7M | ||
| Q3 25 | $427.0M | $127.6M | ||
| Q2 25 | $480.0M | $109.7M | ||
| Q1 25 | $453.0M | $138.7M | ||
| Q4 24 | $548.0M | $79.3M | ||
| Q3 24 | $627.0M | $68.7M | ||
| Q2 24 | $548.0M | $23.4M |
自由现金流CTBBROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $160.0M | $106.6M | ||
| Q3 25 | $252.0M | $126.5M | ||
| Q2 25 | $276.0M | $108.6M | ||
| Q1 25 | $250.0M | $136.8M | ||
| Q4 24 | $277.0M | $76.8M | ||
| Q3 24 | $396.0M | $67.6M | ||
| Q2 24 | $280.0M | $22.5M |
自由现金流率CTBBROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 14.5% | 7.6% | ||
| Q3 25 | 23.1% | 10.4% | ||
| Q2 25 | 24.2% | 9.8% | ||
| Q1 25 | 21.7% | 13.4% | ||
| Q4 24 | 21.4% | 6.4% | ||
| Q3 24 | 30.6% | 6.4% | ||
| Q2 24 | 21.3% | 2.3% |
资本支出强度CTBBROKU
| Q1 26 | — | — | ||
| Q4 25 | 22.0% | 0.1% | ||
| Q3 25 | 16.0% | 0.1% | ||
| Q2 25 | 17.9% | 0.1% | ||
| Q1 25 | 17.6% | 0.2% | ||
| Q4 24 | 20.9% | 0.2% | ||
| Q3 24 | 17.9% | 0.1% | ||
| Q2 24 | 20.4% | 0.1% |
现金转化率CTBBROKU
| Q1 26 | — | — | ||
| Q4 25 | — | 1.34× | ||
| Q3 25 | 2.43× | 5.14× | ||
| Q2 25 | 1.73× | 10.45× | ||
| Q1 25 | 1.60× | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.72× | — | ||
| Q2 24 | 1.45× | — |
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
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
