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GigaCloud Technology Inc（GCT）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
GigaCloud Technology Inc的季度营收约是Rocket Lab Corp的1.9倍（$332.6M vs $179.7M），GigaCloud Technology Inc净利率更高（11.2% vs -29.5%，领先40.6%），Rocket Lab Corp同比增速更快（35.7% vs 9.7%），GigaCloud Technology Inc自由现金流更多（$77.1M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 36.6%）
GigaCloud Technology Inc是一家美国电商企业，主打家具、家电、健身器材等体积较大、规格不统一商品的B2B交易，旗下拥有线上B2B交易平台，业务覆盖撮合交易、全程物流直至终端配送环节。公司总部位于加利福尼亚州埃尔蒙特，自2022年8月起在纳斯达克挂牌上市。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
GCT vs RKLB — 直观对比
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $332.6M | $179.7M |
| 净利润 | $37.2M | $-52.9M |
| 毛利率 | 23.2% | 38.0% |
| 营业利润率 | 12.2% | -28.4% |
| 净利率 | 11.2% | -29.5% |
| 营收同比 | 9.7% | 35.7% |
| 净利润同比 | -8.6% | -1.1% |
| 每股收益（稀释后） | $0.99 | $-0.09 |
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
| Q4 25 | — | $179.7M | ||
| Q3 25 | $332.6M | $155.1M | ||
| Q2 25 | $322.6M | $144.5M | ||
| Q1 25 | $271.9M | $122.6M | ||
| Q4 24 | $295.8M | $132.4M | ||
| Q3 24 | $303.3M | $104.8M | ||
| Q2 24 | $310.9M | $106.3M | ||
| Q1 24 | $251.1M | $92.8M |
| Q4 25 | — | $-52.9M | ||
| Q3 25 | $37.2M | $-18.3M | ||
| Q2 25 | $34.6M | $-66.4M | ||
| Q1 25 | $27.1M | $-60.6M | ||
| Q4 24 | $31.0M | $-52.3M | ||
| Q3 24 | $40.7M | $-51.9M | ||
| Q2 24 | $27.0M | $-41.6M | ||
| Q1 24 | $27.2M | $-44.3M |
| Q4 25 | — | 38.0% | ||
| Q3 25 | 23.2% | 37.0% | ||
| Q2 25 | 23.9% | 32.1% | ||
| Q1 25 | 23.4% | 28.8% | ||
| Q4 24 | 22.0% | 27.8% | ||
| Q3 24 | 25.5% | 26.7% | ||
| Q2 24 | 24.6% | 25.6% | ||
| Q1 24 | 26.5% | 26.1% |
| Q4 25 | — | -28.4% | ||
| Q3 25 | 12.2% | -38.0% | ||
| Q2 25 | 11.1% | -41.3% | ||
| Q1 25 | 10.4% | -48.3% | ||
| Q4 24 | 9.3% | -38.9% | ||
| Q3 24 | 13.4% | -49.5% | ||
| Q2 24 | 8.8% | -40.7% | ||
| Q1 24 | 13.9% | -46.4% |
| Q4 25 | — | -29.5% | ||
| Q3 25 | 11.2% | -11.8% | ||
| Q2 25 | 10.7% | -46.0% | ||
| Q1 25 | 10.0% | -49.5% | ||
| Q4 24 | 10.5% | -39.5% | ||
| Q3 24 | 13.4% | -49.6% | ||
| Q2 24 | 8.7% | -39.2% | ||
| Q1 24 | 10.8% | -47.7% |
| Q4 25 | — | $-0.09 | ||
| Q3 25 | $0.99 | $-0.03 | ||
| Q2 25 | $0.91 | $-0.13 | ||
| Q1 25 | $0.68 | $-0.12 | ||
| Q4 24 | $0.76 | $-0.11 | ||
| Q3 24 | $0.98 | $-0.10 | ||
| Q2 24 | $0.65 | $-0.08 | ||
| Q1 24 | $0.66 | $-0.09 |
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 | $365.9M | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $457.3M | $1.7B |
| 总资产 | $1.1B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
| Q4 25 | — | $1.0B | ||
| Q3 25 | $365.9M | $976.7M | ||
| Q2 25 | $303.0M | $688.1M | ||
| Q1 25 | $286.8M | $428.4M | ||
| Q4 24 | $302.4M | $419.0M | ||
| Q3 24 | $259.8M | $442.4M | ||
| Q2 24 | $207.8M | $496.8M | ||
| Q1 24 | $195.3M | $492.5M |
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
| Q4 25 | — | $1.7B | ||
| Q3 25 | $457.3M | $1.3B | ||
| Q2 25 | $431.4M | $688.5M | ||
| Q1 25 | $412.9M | $431.3M | ||
| Q4 24 | $405.2M | $382.5M | ||
| Q3 24 | $400.4M | $419.8M | ||
| Q2 24 | $358.4M | $455.2M | ||
| Q1 24 | $317.8M | $478.9M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $977.6M | $1.2B |
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $78.3M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $77.1M | $-114.2M |
| 自由现金流率自由现金流/营收 | 23.2% | -63.6% |
| 资本支出强度资本支出/营收 | 0.4% | 27.6% |
| 现金转化率经营现金流/净利润 | 2.10× | — |
| 过去12个月自由现金流最近4个季度 | $188.1M | $-321.8M |
8季度趋势，按日历期对齐
| Q4 25 | — | $-64.5M | ||
| Q3 25 | $78.3M | $-23.5M | ||
| Q2 25 | $38.6M | $-23.2M | ||
| Q1 25 | $9.4M | $-54.2M | ||
| Q4 24 | $68.4M | $-2.4M | ||
| Q3 24 | $55.2M | $-30.9M | ||
| Q2 24 | $19.1M | $-13.0M | ||
| Q1 24 | $15.3M | $-2.6M |
| Q4 25 | — | $-114.2M | ||
| Q3 25 | $77.1M | $-69.4M | ||
| Q2 25 | $37.0M | $-55.3M | ||
| Q1 25 | $7.0M | $-82.9M | ||
| Q4 24 | $66.9M | $-23.9M | ||
| Q3 24 | $51.4M | $-41.9M | ||
| Q2 24 | $12.9M | $-28.3M | ||
| Q1 24 | $11.3M | $-21.8M |
| Q4 25 | — | -63.6% | ||
| Q3 25 | 23.2% | -44.8% | ||
| Q2 25 | 11.5% | -38.3% | ||
| Q1 25 | 2.6% | -67.6% | ||
| Q4 24 | 22.6% | -18.1% | ||
| Q3 24 | 16.9% | -40.0% | ||
| Q2 24 | 4.2% | -26.7% | ||
| Q1 24 | 4.5% | -23.5% |
| Q4 25 | — | 27.6% | ||
| Q3 25 | 0.4% | 29.6% | ||
| Q2 25 | 0.5% | 22.2% | ||
| Q1 25 | 0.9% | 23.4% | ||
| Q4 24 | 0.5% | 16.3% | ||
| Q3 24 | 1.3% | 10.5% | ||
| Q2 24 | 2.0% | 14.4% | ||
| Q1 24 | 1.6% | 20.7% |
| Q4 25 | — | — | ||
| Q3 25 | 2.10× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 2.21× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.56× | — |
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
GCT
| Services | $108.4M | 33% |
| Transferred Over Time | $89.8M | 27% |
| Product Sales To B | $50.1M | 15% |
| Last Mile Delivery Service | $49.2M | 15% |
| Warehousing Service | $14.2M | 4% |
| Ocean Transportation Service | $9.0M | 3% |
| Platform Commission | $4.9M | 1% |
| Drayage Service | $3.2M | 1% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
