vs
盖尔斯（GES）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盖尔斯的1.8倍（$1.4B vs $791.4M），盖尔斯净利率更高（3.2% vs -22.3%，领先25.6%），罗布乐思同比增速更快（43.2% vs 7.2%），罗布乐思自由现金流更多（$308.6M vs $-56.3M），过去两年罗布乐思的营收复合增速更高（32.9% vs -5.8%）
盖尔斯是美国知名服饰品牌企业，以标志性的黑白风格广告广为人知。除核心服饰产品外，品牌还通过品牌授权模式推出腕表、珠宝、香水、包袋、鞋履等各类时尚配饰，在全球时尚消费市场拥有较高知名度。
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。
GES vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.8倍
$791.4M
营收增速更快
RBLX
高出36.0%
7.2%
净利率更高
GES
高出25.6%
-22.3%
自由现金流更多
RBLX
多$364.9M
$-56.3M
两年增速更快
RBLX
近两年复合增速
-5.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $791.4M | $1.4B |
| 净利润 | $25.6M | $-316.0M |
| 毛利率 | 42.5% | 77.7% |
| 营业利润率 | 2.9% | -25.3% |
| 净利率 | 3.2% | -22.3% |
| 营收同比 | 7.2% | 43.2% |
| 净利润同比 | 209.6% | -43.9% |
| 每股收益（稀释后） | $0.48 | $-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GESRBLX
| Q4 25 | $791.4M | $1.4B | ||
| Q3 25 | $772.9M | $1.4B | ||
| Q2 25 | $647.8M | $1.1B | ||
| Q1 25 | $932.3M | $1.0B | ||
| Q4 24 | $738.5M | $988.2M | ||
| Q3 24 | $732.6M | $919.0M | ||
| Q2 24 | $591.9M | $893.5M | ||
| Q1 24 | $891.0M | $801.3M |
净利润GESRBLX
| Q4 25 | $25.6M | $-316.0M | ||
| Q3 25 | $6.2M | $-255.6M | ||
| Q2 25 | $-32.9M | $-278.4M | ||
| Q1 25 | $81.4M | $-215.1M | ||
| Q4 24 | $-23.4M | $-219.6M | ||
| Q3 24 | $-10.6M | $-239.3M | ||
| Q2 24 | $13.0M | $-205.9M | ||
| Q1 24 | $115.3M | $-270.6M |
毛利率GESRBLX
| Q4 25 | 42.5% | 77.7% | ||
| Q3 25 | 42.5% | 78.2% | ||
| Q2 25 | 39.9% | 78.2% | ||
| Q1 25 | 44.1% | 78.3% | ||
| Q4 24 | 43.6% | 77.9% | ||
| Q3 24 | 43.7% | 77.7% | ||
| Q2 24 | 41.9% | 77.8% | ||
| Q1 24 | 45.4% | 77.7% |
营业利润率GESRBLX
| Q4 25 | 2.9% | -25.3% | ||
| Q3 25 | 2.3% | -21.8% | ||
| Q2 25 | -5.1% | -29.8% | ||
| Q1 25 | 11.1% | -24.6% | ||
| Q4 24 | 5.7% | -24.7% | ||
| Q3 24 | 6.5% | -30.4% | ||
| Q2 24 | -3.4% | -26.6% | ||
| Q1 24 | 16.3% | -37.7% |
净利率GESRBLX
| Q4 25 | 3.2% | -22.3% | ||
| Q3 25 | 0.8% | -18.8% | ||
| Q2 25 | -5.1% | -25.8% | ||
| Q1 25 | 8.7% | -20.8% | ||
| Q4 24 | -3.2% | -22.2% | ||
| Q3 24 | -1.4% | -26.0% | ||
| Q2 24 | 2.2% | -23.0% | ||
| Q1 24 | 12.9% | -33.8% |
每股收益（稀释后）GESRBLX
| Q4 25 | $0.48 | $-0.44 | ||
| Q3 25 | $0.12 | $-0.37 | ||
| Q2 25 | $-0.65 | $-0.41 | ||
| Q1 25 | $1.29 | $-0.32 | ||
| Q4 24 | $-0.47 | $-0.32 | ||
| Q3 24 | $-0.28 | $-0.37 | ||
| Q2 24 | $0.23 | $-0.32 | ||
| Q1 24 | $1.90 | $-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 | $154.2M | $3.1B |
| 总债务越低越好 | $299.5M | $1.2B |
| 股东权益账面价值 | $508.5M | $394.5M |
| 总资产 | $3.0B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.59× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资GESRBLX
| Q4 25 | $154.2M | $3.1B | ||
| Q3 25 | $189.6M | $2.9B | ||
| Q2 25 | $151.2M | $2.6B | ||
| Q1 25 | $187.7M | $2.7B | ||
| Q4 24 | $140.9M | $2.4B | ||
| Q3 24 | $218.9M | $2.3B | ||
| Q2 24 | $241.7M | $2.4B | ||
| Q1 24 | $360.3M | $2.4B |
总债务GESRBLX
| Q4 25 | $299.5M | $1.2B | ||
| Q3 25 | $258.4M | — | ||
| Q2 25 | $241.7M | — | ||
| Q1 25 | $150.7M | — | ||
| Q4 24 | $238.3M | $1.2B | ||
| Q3 24 | $187.8M | — | ||
| Q2 24 | $196.9M | — | ||
| Q1 24 | $28.2M | — |
股东权益GESRBLX
| Q4 25 | $508.5M | $394.5M | ||
| Q3 25 | $487.6M | $407.6M | ||
| Q2 25 | $483.6M | $353.2M | ||
| Q1 25 | $505.0M | $310.7M | ||
| Q4 24 | $450.7M | $221.4M | ||
| Q3 24 | $491.2M | $189.9M | ||
| Q2 24 | $565.5M | $121.5M | ||
| Q1 24 | $684.9M | $71.6M |
总资产GESRBLX
| Q4 25 | $3.0B | $9.6B | ||
| Q3 25 | $3.0B | $8.6B | ||
| Q2 25 | $2.9B | $7.8B | ||
| Q1 25 | $2.8B | $7.5B | ||
| Q4 24 | $2.8B | $7.2B | ||
| Q3 24 | $2.8B | $6.7B | ||
| Q2 24 | $2.7B | $6.5B | ||
| Q1 24 | $2.6B | $6.3B |
负债/权益比GESRBLX
| Q4 25 | 0.59× | 2.98× | ||
| Q3 25 | 0.53× | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.53× | 5.48× | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.04× | — |
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 | $-39.5M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $-56.3M | $308.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 21.8% |
| 资本支出强度资本支出/营收 | 2.1% | 21.1% |
| 现金转化率经营现金流/净利润 | -1.54× | — |
| 过去12个月自由现金流最近4个季度 | $62.5M | $1.4B |
8季度趋势，按日历期对齐
经营现金流GESRBLX
| Q4 25 | $-39.5M | $607.0M | ||
| Q3 25 | $74.9M | $546.2M | ||
| Q2 25 | $-73.4M | $199.3M | ||
| Q1 25 | $183.2M | $443.9M | ||
| Q4 24 | $-83.3M | $184.5M | ||
| Q3 24 | $44.7M | $247.4M | ||
| Q2 24 | $-22.9M | $151.4M | ||
| Q1 24 | $289.5M | $238.9M |
自由现金流GESRBLX
| Q4 25 | $-56.3M | $308.6M | ||
| Q3 25 | $53.4M | $443.6M | ||
| Q2 25 | $-95.3M | $176.7M | ||
| Q1 25 | $160.7M | $426.5M | ||
| Q4 24 | $-105.4M | $120.6M | ||
| Q3 24 | $24.3M | $218.0M | ||
| Q2 24 | $-44.0M | $111.7M | ||
| Q1 24 | $267.8M | $192.3M |
自由现金流率GESRBLX
| Q4 25 | -7.1% | 21.8% | ||
| Q3 25 | 6.9% | 32.6% | ||
| Q2 25 | -14.7% | 16.3% | ||
| Q1 25 | 17.2% | 41.2% | ||
| Q4 24 | -14.3% | 12.2% | ||
| Q3 24 | 3.3% | 23.7% | ||
| Q2 24 | -7.4% | 12.5% | ||
| Q1 24 | 30.1% | 24.0% |
资本支出强度GESRBLX
| Q4 25 | 2.1% | 21.1% | ||
| Q3 25 | 2.8% | 7.5% | ||
| Q2 25 | 3.4% | 2.1% | ||
| Q1 25 | 2.4% | 1.7% | ||
| Q4 24 | 3.0% | 6.5% | ||
| Q3 24 | 2.8% | 3.2% | ||
| Q2 24 | 3.6% | 4.4% | ||
| Q1 24 | 2.4% | 5.8% |
现金转化率GESRBLX
| Q4 25 | -1.54× | — | ||
| Q3 25 | 12.00× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.25× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.76× | — | ||
| Q1 24 | 2.51× | — |
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
GES
| Products | $760.3M | 96% |
| Royalty | $31.1M | 4% |
RBLX
暂无分部数据
