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游戏驿站（GME）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是游戏驿站的1.5倍（$1.2B vs $821.0M），游戏驿站净利率更高（9.4% vs 9.1%，领先0.3%），利氏兄弟拍卖行同比增速更快（5.4% vs -4.6%），利氏兄弟拍卖行自由现金流更多（$186.5M vs $107.0M），过去两年利氏兄弟拍卖行的营收复合增速更高（6.3% vs -32.3%）
游戏驿站（GameStop Corp.）是美国知名电子游戏、消费电子及游戏周边零售企业，总部位于得克萨斯州格雷普韦恩，是全球规模最大的电子游戏零售商。截至2025年2月，公司在美、加、澳及欧洲地区共运营3203家门店，旗下拥有EB Games、ThinkGeek等多个零售品牌，前身为1984年于达拉斯成立的Babbage's。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
GME vs RBA — 直观对比
营收规模更大
RBA
是对方的1.5倍
$821.0M
营收增速更快
RBA
高出10.0%
-4.6%
净利率更高
GME
高出0.3%
9.1%
自由现金流更多
RBA
多$79.5M
$107.0M
两年增速更快
RBA
近两年复合增速
-32.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $821.0M | $1.2B |
| 净利润 | $77.1M | $109.7M |
| 毛利率 | 33.3% | — |
| 营业利润率 | 5.0% | 14.7% |
| 净利率 | 9.4% | 9.1% |
| 营收同比 | -4.6% | 5.4% |
| 净利润同比 | 343.1% | -7.4% |
| 每股收益（稀释后） | $0.13 | $0.53 |
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GMERBA
| Q4 25 | $821.0M | $1.2B | ||
| Q3 25 | $972.2M | $1.1B | ||
| Q2 25 | $732.4M | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $860.3M | $1.1B | ||
| Q3 24 | $798.3M | $981.8M | ||
| Q2 24 | $881.8M | $1.1B | ||
| Q1 24 | $1.8B | $1.1B |
净利润GMERBA
| Q4 25 | $77.1M | $109.7M | ||
| Q3 25 | $168.6M | $95.5M | ||
| Q2 25 | $44.8M | $109.8M | ||
| Q1 25 | $131.4M | $113.4M | ||
| Q4 24 | $17.4M | $118.5M | ||
| Q3 24 | $14.8M | $76.1M | ||
| Q2 24 | $-32.3M | $111.1M | ||
| Q1 24 | $63.1M | $107.4M |
毛利率GMERBA
| Q4 25 | 33.3% | — | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 34.5% | — | ||
| Q1 25 | 28.3% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 31.2% | — | ||
| Q2 24 | 27.7% | — | ||
| Q1 24 | 23.4% | — |
营业利润率GMERBA
| Q4 25 | 5.0% | 14.7% | ||
| Q3 25 | 6.8% | 14.5% | ||
| Q2 25 | -1.5% | 15.9% | ||
| Q1 25 | 6.2% | 17.1% | ||
| Q4 24 | -3.9% | 18.1% | ||
| Q3 24 | -2.8% | 15.6% | ||
| Q2 24 | -5.7% | 18.4% | ||
| Q1 24 | 3.1% | 18.7% |
净利率GMERBA
| Q4 25 | 9.4% | 9.1% | ||
| Q3 25 | 17.3% | 8.7% | ||
| Q2 25 | 6.1% | 9.3% | ||
| Q1 25 | 10.2% | 10.2% | ||
| Q4 24 | 2.0% | 10.4% | ||
| Q3 24 | 1.9% | 7.8% | ||
| Q2 24 | -3.7% | 10.1% | ||
| Q1 24 | 3.5% | 10.1% |
每股收益（稀释后）GMERBA
| Q4 25 | $0.13 | $0.53 | ||
| Q3 25 | $0.31 | $0.43 | ||
| Q2 25 | $0.09 | $0.53 | ||
| Q1 25 | $0.36 | $0.55 | ||
| Q4 24 | $0.04 | $0.58 | ||
| Q3 24 | $0.04 | $0.36 | ||
| Q2 24 | $-0.11 | $0.54 | ||
| Q1 24 | $0.21 | $0.53 |
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 | $8.8B | $531.5M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $5.3B | $5.6B |
| 总资产 | $10.6B | $12.1B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资GMERBA
| Q4 25 | $8.8B | $531.5M | ||
| Q3 25 | $8.7B | $674.7M | ||
| Q2 25 | $6.4B | $710.2M | ||
| Q1 25 | $4.8B | $578.1M | ||
| Q4 24 | $4.6B | $533.9M | ||
| Q3 24 | $4.2B | $650.7M | ||
| Q2 24 | $1.1B | $599.5M | ||
| Q1 24 | $1.2B | $462.8M |
总债务GMERBA
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | $16.9M | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | $28.5M | $2.9B |
股东权益GMERBA
| Q4 25 | $5.3B | $5.6B | ||
| Q3 25 | $5.2B | $5.5B | ||
| Q2 25 | $5.0B | $5.5B | ||
| Q1 25 | $4.9B | $5.3B | ||
| Q4 24 | $4.8B | $5.2B | ||
| Q3 24 | $4.4B | $5.2B | ||
| Q2 24 | $1.3B | $5.2B | ||
| Q1 24 | $1.3B | $5.1B |
总资产GMERBA
| Q4 25 | $10.6B | $12.1B | ||
| Q3 25 | $10.3B | $12.2B | ||
| Q2 25 | $7.5B | $12.2B | ||
| Q1 25 | $5.9B | $11.9B | ||
| Q4 24 | $6.2B | $11.8B | ||
| Q3 24 | $5.5B | $11.9B | ||
| Q2 24 | $2.6B | $12.1B | ||
| Q1 24 | $2.7B | $12.0B |
负债/权益比GMERBA
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | 0.00× | 0.50× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| Q1 24 | 0.02× | 0.58× |
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 | $111.3M | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $186.5M |
| 自由现金流率自由现金流/营收 | 13.0% | 15.5% |
| 资本支出强度资本支出/营收 | 0.5% | 5.7% |
| 现金转化率经营现金流/净利润 | 1.44× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $568.7M | $719.2M |
8季度趋势，按日历期对齐
经营现金流GMERBA
| Q4 25 | $111.3M | $255.2M | ||
| Q3 25 | $117.4M | $239.7M | ||
| Q2 25 | $192.5M | $326.5M | ||
| Q1 25 | $162.3M | $156.8M | ||
| Q4 24 | $24.6M | $184.5M | ||
| Q3 24 | $68.6M | $285.4M | ||
| Q2 24 | $-109.8M | $337.3M | ||
| Q1 24 | $-11.0M | $124.8M |
自由现金流GMERBA
| Q4 25 | $107.0M | $186.5M | ||
| Q3 25 | $113.3M | $188.5M | ||
| Q2 25 | $189.6M | $241.7M | ||
| Q1 25 | $158.8M | $102.5M | ||
| Q4 24 | $20.0M | $127.9M | ||
| Q3 24 | $65.5M | $248.5M | ||
| Q2 24 | $-114.7M | $308.6M | ||
| Q1 24 | $-18.7M | $79.6M |
自由现金流率GMERBA
| Q4 25 | 13.0% | 15.5% | ||
| Q3 25 | 11.7% | 17.3% | ||
| Q2 25 | 25.9% | 20.4% | ||
| Q1 25 | 12.4% | 9.2% | ||
| Q4 24 | 2.3% | 11.2% | ||
| Q3 24 | 8.2% | 25.3% | ||
| Q2 24 | -13.0% | 28.2% | ||
| Q1 24 | -1.0% | 7.5% |
资本支出强度GMERBA
| Q4 25 | 0.5% | 5.7% | ||
| Q3 25 | 0.4% | 4.7% | ||
| Q2 25 | 0.4% | 7.2% | ||
| Q1 25 | 0.3% | 4.9% | ||
| Q4 24 | 0.5% | 5.0% | ||
| Q3 24 | 0.4% | 3.8% | ||
| Q2 24 | 0.6% | 2.6% | ||
| Q1 24 | 0.4% | 4.2% |
现金转化率GMERBA
| Q4 25 | 1.44× | 2.33× | ||
| Q3 25 | 0.70× | 2.51× | ||
| Q2 25 | 4.30× | 2.97× | ||
| Q1 25 | 1.24× | 1.38× | ||
| Q4 24 | 1.41× | 1.56× | ||
| Q3 24 | 4.64× | 3.75× | ||
| Q2 24 | — | 3.04× | ||
| Q1 24 | -0.17× | 1.16× |
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
GME
| Hardware And Accessories | $367.4M | 45% |
| Collectibles | $256.1M | 31% |
| Software | $197.5M | 24% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
