vs
柯蒂斯-莱特（CW）与罗布乐思（RBLX）财务数据对比。点击上方公司名可切换其他公司
罗布乐思的季度营收约是柯蒂斯-莱特的1.5倍（$1.4B vs $947.0M），柯蒂斯-莱特净利率更高（14.5% vs -22.3%，领先36.8%），罗布乐思同比增速更快（43.2% vs 14.9%），柯蒂斯-莱特自由现金流更多（$315.1M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 15.2%）
柯蒂斯-莱特公司是总部位于美国北卡罗来纳州戴维森的制造与服务提供商，在美国内外均设有工厂及业务网点。公司1929年由柯蒂斯、莱特及多家供应商合并成立，成立之初即为美国最大航空企业，二战期间为美军生产了超14.2万台航空发动机。
罗布乐思（Roblox Corporation）是总部位于美国加利福尼亚州圣马特奥的游戏企业，由大卫·巴斯祖奇与埃里克·卡塞尔于2004年共同创立。公司核心产品为同名线上游戏创作平台Roblox，于2006年正式上线，截至2024年12月底全球员工规模已超2400人。
CW vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.5倍
$947.0M
营收增速更快
RBLX
高出28.3%
14.9%
净利率更高
CW
高出36.8%
-22.3%
自由现金流更多
CW
多$6.5M
$308.6M
两年增速更快
RBLX
近两年复合增速
15.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $947.0M | $1.4B |
| 净利润 | $137.0M | $-316.0M |
| 毛利率 | 37.5% | 77.7% |
| 营业利润率 | 19.2% | -25.3% |
| 净利率 | 14.5% | -22.3% |
| 营收同比 | 14.9% | 43.2% |
| 净利润同比 | 16.2% | -43.9% |
| 每股收益（稀释后） | $3.69 | $-0.44 |
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CWRBLX
| Q4 25 | $947.0M | $1.4B | ||
| Q3 25 | $869.2M | $1.4B | ||
| Q2 25 | $876.6M | $1.1B | ||
| Q1 25 | $805.6M | $1.0B | ||
| Q4 24 | $824.3M | $988.2M | ||
| Q3 24 | $798.9M | $919.0M | ||
| Q2 24 | $784.8M | $893.5M | ||
| Q1 24 | $713.2M | $801.3M |
净利润CWRBLX
| Q4 25 | $137.0M | $-316.0M | ||
| Q3 25 | $124.8M | $-255.6M | ||
| Q2 25 | $121.1M | $-278.4M | ||
| Q1 25 | $101.3M | $-215.1M | ||
| Q4 24 | $117.9M | $-219.6M | ||
| Q3 24 | $111.2M | $-239.3M | ||
| Q2 24 | $99.5M | $-205.9M | ||
| Q1 24 | $76.5M | $-270.6M |
毛利率CWRBLX
| Q4 25 | 37.5% | 77.7% | ||
| Q3 25 | 37.7% | 78.2% | ||
| Q2 25 | 37.2% | 78.2% | ||
| Q1 25 | 36.3% | 78.3% | ||
| Q4 24 | 38.5% | 77.9% | ||
| Q3 24 | 37.3% | 77.7% | ||
| Q2 24 | 36.2% | 77.8% | ||
| Q1 24 | 35.6% | 77.7% |
营业利润率CWRBLX
| Q4 25 | 19.2% | -25.3% | ||
| Q3 25 | 19.1% | -21.8% | ||
| Q2 25 | 17.8% | -29.8% | ||
| Q1 25 | 16.0% | -24.6% | ||
| Q4 24 | 18.8% | -24.7% | ||
| Q3 24 | 18.1% | -30.4% | ||
| Q2 24 | 16.4% | -26.6% | ||
| Q1 24 | 14.0% | -37.7% |
净利率CWRBLX
| Q4 25 | 14.5% | -22.3% | ||
| Q3 25 | 14.4% | -18.8% | ||
| Q2 25 | 13.8% | -25.8% | ||
| Q1 25 | 12.6% | -20.8% | ||
| Q4 24 | 14.3% | -22.2% | ||
| Q3 24 | 13.9% | -26.0% | ||
| Q2 24 | 12.7% | -23.0% | ||
| Q1 24 | 10.7% | -33.8% |
每股收益（稀释后）CWRBLX
| Q4 25 | $3.69 | $-0.44 | ||
| Q3 25 | $3.31 | $-0.37 | ||
| Q2 25 | $3.19 | $-0.41 | ||
| Q1 25 | $2.68 | $-0.32 | ||
| Q4 24 | $3.09 | $-0.32 | ||
| Q3 24 | $2.89 | $-0.37 | ||
| Q2 24 | $2.58 | $-0.32 | ||
| Q1 24 | $1.99 | $-0.43 |
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 | — | $3.1B |
| 总债务越低越好 | $957.9M | $1.2B |
| 股东权益账面价值 | $2.5B | $394.5M |
| 总资产 | $5.2B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.38× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资CWRBLX
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | $226.5M | $2.7B | ||
| Q4 24 | $385.0M | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $338.0M | $2.4B |
总债务CWRBLX
| Q4 25 | $957.9M | $1.2B | ||
| Q3 25 | $968.6M | — | ||
| Q2 25 | $958.4M | — | ||
| Q1 25 | $958.6M | — | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.1B | — |
股东权益CWRBLX
| Q4 25 | $2.5B | $394.5M | ||
| Q3 25 | $2.5B | $407.6M | ||
| Q2 25 | $2.7B | $353.2M | ||
| Q1 25 | $2.6B | $310.7M | ||
| Q4 24 | $2.4B | $221.4M | ||
| Q3 24 | $2.5B | $189.9M | ||
| Q2 24 | $2.5B | $121.5M | ||
| Q1 24 | $2.4B | $71.6M |
总资产CWRBLX
| Q4 25 | $5.2B | $9.6B | ||
| Q3 25 | $5.1B | $8.6B | ||
| Q2 25 | $5.2B | $7.8B | ||
| Q1 25 | $5.0B | $7.5B | ||
| Q4 24 | $5.0B | $7.2B | ||
| Q3 24 | $4.9B | $6.7B | ||
| Q2 24 | $4.7B | $6.5B | ||
| Q1 24 | $4.6B | $6.3B |
负债/权益比CWRBLX
| Q4 25 | 0.38× | 2.98× | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.37× | — | ||
| Q4 24 | 0.43× | 5.48× | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 0.44× | — |
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 | $352.7M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $315.1M | $308.6M |
| 自由现金流率自由现金流/营收 | 33.3% | 21.8% |
| 资本支出强度资本支出/营收 | 4.0% | 21.1% |
| 现金转化率经营现金流/净利润 | 2.57× | — |
| 过去12个月自由现金流最近4个季度 | $553.7M | $1.4B |
8季度趋势，按日历期对齐
经营现金流CWRBLX
| Q4 25 | $352.7M | $607.0M | ||
| Q3 25 | $192.8M | $546.2M | ||
| Q2 25 | $136.6M | $199.3M | ||
| Q1 25 | $-38.8M | $443.9M | ||
| Q4 24 | $301.3M | $184.5M | ||
| Q3 24 | $177.3M | $247.4M | ||
| Q2 24 | $111.3M | $151.4M | ||
| Q1 24 | $-45.6M | $238.9M |
自由现金流CWRBLX
| Q4 25 | $315.1M | $308.6M | ||
| Q3 25 | $175.9M | $443.6M | ||
| Q2 25 | $117.2M | $176.7M | ||
| Q1 25 | $-54.5M | $426.5M | ||
| Q4 24 | $278.0M | $120.6M | ||
| Q3 24 | $162.7M | $218.0M | ||
| Q2 24 | $100.3M | $111.7M | ||
| Q1 24 | $-57.7M | $192.3M |
自由现金流率CWRBLX
| Q4 25 | 33.3% | 21.8% | ||
| Q3 25 | 20.2% | 32.6% | ||
| Q2 25 | 13.4% | 16.3% | ||
| Q1 25 | -6.8% | 41.2% | ||
| Q4 24 | 33.7% | 12.2% | ||
| Q3 24 | 20.4% | 23.7% | ||
| Q2 24 | 12.8% | 12.5% | ||
| Q1 24 | -8.1% | 24.0% |
资本支出强度CWRBLX
| Q4 25 | 4.0% | 21.1% | ||
| Q3 25 | 1.9% | 7.5% | ||
| Q2 25 | 2.2% | 2.1% | ||
| Q1 25 | 2.0% | 1.7% | ||
| Q4 24 | 2.8% | 6.5% | ||
| Q3 24 | 1.8% | 3.2% | ||
| Q2 24 | 1.4% | 4.4% | ||
| Q1 24 | 1.7% | 5.8% |
现金转化率CWRBLX
| Q4 25 | 2.57× | — | ||
| Q3 25 | 1.54× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | -0.38× | — | ||
| Q4 24 | 2.56× | — | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 1.12× | — | ||
| Q1 24 | -0.60× | — |
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
CW
| Naval Power | $417.4M | 44% |
| Defense Electronics | $268.3M | 28% |
| Aerospace Industrial | $262.4M | 28% |
RBLX
暂无分部数据
