vs
达美乐（DPZ）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达美乐的1.2倍（$1.4B vs $1.2B），达美乐净利率更高（12.2% vs -22.3%，领先34.5%），罗布乐思同比增速更快（43.2% vs 3.5%），罗布乐思自由现金流更多（$308.6M vs $147.0M），过去两年罗布乐思的营收复合增速更高（32.9% vs 3.0%）
达美乐是1960年成立的美国跨国披萨连锁品牌，注册地位于特拉华州，总部坐落在密歇根州安娜堡附近的安娜堡镇达美乐农场办公园区。截至2018年，品牌已在全球83个国家和地区的5701座城市开设约15000家门店，其中美国、印度、英国分别有5649家、1500家和1249家门店。
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。
DPZ vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.2倍
$1.2B
营收增速更快
RBLX
高出39.7%
3.5%
净利率更高
DPZ
高出34.5%
-22.3%
自由现金流更多
RBLX
多$161.6M
$147.0M
两年增速更快
RBLX
近两年复合增速
3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $139.8M | $-316.0M |
| 毛利率 | 40.4% | 77.7% |
| 营业利润率 | 20.0% | -25.3% |
| 净利率 | 12.2% | -22.3% |
| 营收同比 | 3.5% | 43.2% |
| 净利润同比 | -6.6% | -43.9% |
| 每股收益（稀释后） | $4.13 | $-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DPZRBLX
| Q1 26 | $1.2B | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.4B | $988.2M | ||
| Q3 24 | $1.1B | $919.0M | ||
| Q2 24 | $1.1B | $893.5M |
净利润DPZRBLX
| Q1 26 | $139.8M | — | ||
| Q4 25 | — | $-316.0M | ||
| Q3 25 | $139.3M | $-255.6M | ||
| Q2 25 | $131.1M | $-278.4M | ||
| Q1 25 | $149.7M | $-215.1M | ||
| Q4 24 | $169.4M | $-219.6M | ||
| Q3 24 | $146.9M | $-239.3M | ||
| Q2 24 | $142.0M | $-205.9M |
毛利率DPZRBLX
| Q1 26 | 40.4% | — | ||
| Q4 25 | — | 77.7% | ||
| Q3 25 | 40.1% | 78.2% | ||
| Q2 25 | 40.3% | 78.2% | ||
| Q1 25 | 39.8% | 78.3% | ||
| Q4 24 | 39.2% | 77.9% | ||
| Q3 24 | 39.2% | 77.7% | ||
| Q2 24 | 39.8% | 77.8% |
营业利润率DPZRBLX
| Q1 26 | 20.0% | — | ||
| Q4 25 | — | -25.3% | ||
| Q3 25 | 19.5% | -21.8% | ||
| Q2 25 | 19.7% | -29.8% | ||
| Q1 25 | 18.9% | -24.6% | ||
| Q4 24 | 19.0% | -24.7% | ||
| Q3 24 | 18.4% | -30.4% | ||
| Q2 24 | 17.9% | -26.6% |
净利率DPZRBLX
| Q1 26 | 12.2% | — | ||
| Q4 25 | — | -22.3% | ||
| Q3 25 | 12.1% | -18.8% | ||
| Q2 25 | 11.4% | -25.8% | ||
| Q1 25 | 13.5% | -20.8% | ||
| Q4 24 | 11.7% | -22.2% | ||
| Q3 24 | 13.6% | -26.0% | ||
| Q2 24 | 12.9% | -23.0% |
每股收益（稀释后）DPZRBLX
| Q1 26 | $4.13 | — | ||
| Q4 25 | — | $-0.44 | ||
| Q3 25 | $4.08 | $-0.37 | ||
| Q2 25 | $3.81 | $-0.41 | ||
| Q1 25 | $4.33 | $-0.32 | ||
| Q4 24 | $4.89 | $-0.32 | ||
| Q3 24 | $4.19 | $-0.37 | ||
| Q2 24 | $4.03 | $-0.32 |
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 | $232.9M | $3.1B |
| 总债务越低越好 | $4.9B | $1.2B |
| 股东权益账面价值 | — | $394.5M |
| 总资产 | $1.8B | $9.6B |
| 负债/权益比越低杠杆越低 | — | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资DPZRBLX
| Q1 26 | $232.9M | — | ||
| Q4 25 | — | $3.1B | ||
| Q3 25 | $139.7M | $2.9B | ||
| Q2 25 | $272.9M | $2.6B | ||
| Q1 25 | $304.3M | $2.7B | ||
| Q4 24 | $186.1M | $2.4B | ||
| Q3 24 | $189.1M | $2.3B | ||
| Q2 24 | $283.7M | $2.4B |
总债务DPZRBLX
| Q1 26 | $4.9B | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $3.8B | — | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.8B | $1.2B | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.0B | — |
股东权益DPZRBLX
| Q1 26 | — | — | ||
| Q4 25 | — | $394.5M | ||
| Q3 25 | $-4.0B | $407.6M | ||
| Q2 25 | $-4.0B | $353.2M | ||
| Q1 25 | $-3.9B | $310.7M | ||
| Q4 24 | $-4.0B | $221.4M | ||
| Q3 24 | $-4.0B | $189.9M | ||
| Q2 24 | $-3.9B | $121.5M |
总资产DPZRBLX
| Q1 26 | $1.8B | — | ||
| Q4 25 | — | $9.6B | ||
| Q3 25 | $1.7B | $8.6B | ||
| Q2 25 | $1.8B | $7.8B | ||
| Q1 25 | $1.9B | $7.5B | ||
| Q4 24 | $1.7B | $7.2B | ||
| Q3 24 | $1.8B | $6.7B | ||
| Q2 24 | $1.9B | $6.5B |
负债/权益比DPZRBLX
| Q1 26 | — | — | ||
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.48× | ||
| 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 | $162.0M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $147.0M | $308.6M |
| 自由现金流率自由现金流/营收 | 12.8% | 21.8% |
| 资本支出强度资本支出/营收 | 1.3% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.16× | — |
| 过去12个月自由现金流最近4个季度 | $642.6M | $1.4B |
8季度趋势，按日历期对齐
经营现金流DPZRBLX
| Q1 26 | $162.0M | — | ||
| Q4 25 | — | $607.0M | ||
| Q3 25 | $185.4M | $546.2M | ||
| Q2 25 | $187.8M | $199.3M | ||
| Q1 25 | $179.1M | $443.9M | ||
| Q4 24 | $178.0M | $184.5M | ||
| Q3 24 | $172.7M | $247.4M | ||
| Q2 24 | $150.7M | $151.4M |
自由现金流DPZRBLX
| Q1 26 | $147.0M | — | ||
| Q4 25 | — | $308.6M | ||
| Q3 25 | $164.0M | $443.6M | ||
| Q2 25 | $167.3M | $176.7M | ||
| Q1 25 | $164.3M | $426.5M | ||
| Q4 24 | $135.9M | $120.6M | ||
| Q3 24 | $145.6M | $218.0M | ||
| Q2 24 | $127.2M | $111.7M |
自由现金流率DPZRBLX
| Q1 26 | 12.8% | — | ||
| Q4 25 | — | 21.8% | ||
| Q3 25 | 14.3% | 32.6% | ||
| Q2 25 | 14.6% | 16.3% | ||
| Q1 25 | 14.8% | 41.2% | ||
| Q4 24 | 9.4% | 12.2% | ||
| Q3 24 | 13.5% | 23.7% | ||
| Q2 24 | 11.6% | 12.5% |
资本支出强度DPZRBLX
| Q1 26 | 1.3% | — | ||
| Q4 25 | — | 21.1% | ||
| Q3 25 | 1.9% | 7.5% | ||
| Q2 25 | 1.8% | 2.1% | ||
| Q1 25 | 1.3% | 1.7% | ||
| Q4 24 | 2.9% | 6.5% | ||
| Q3 24 | 2.5% | 3.2% | ||
| Q2 24 | 2.1% | 4.4% |
现金转化率DPZRBLX
| Q1 26 | 1.16× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.33× | — | ||
| Q2 25 | 1.43× | — | ||
| Q1 25 | 1.20× | — | ||
| Q4 24 | 1.05× | — | ||
| Q3 24 | 1.18× | — | ||
| Q2 24 | 1.06× | — |
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
DPZ
| Supply chain | $699.0M | 61% |
| U.S. franchise royalties and fees | $158.0M | 14% |
| U.S. franchise advertising | $130.5M | 11% |
| U.S. Company-owned stores | $82.1M | 7% |
| International franchise royalties and fees | $81.0M | 7% |
RBLX
暂无分部数据
