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游戏驿站（GME）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游戏驿站的1.7倍（$1.4B vs $821.0M），游戏驿站净利率更高（9.4% vs -22.3%，领先31.7%），罗布乐思同比增速更快（43.2% vs -4.6%），罗布乐思自由现金流更多（$308.6M vs $107.0M），过去两年罗布乐思的营收复合增速更高（32.9% 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。
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。
GME vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.7倍
$821.0M
营收增速更快
RBLX
高出47.8%
-4.6%
净利率更高
GME
高出31.7%
-22.3%
自由现金流更多
RBLX
多$201.6M
$107.0M
两年增速更快
RBLX
近两年复合增速
-32.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $821.0M | $1.4B |
| 净利润 | $77.1M | $-316.0M |
| 毛利率 | 33.3% | 77.7% |
| 营业利润率 | 5.0% | -25.3% |
| 净利率 | 9.4% | -22.3% |
| 营收同比 | -4.6% | 43.2% |
| 净利润同比 | 343.1% | -43.9% |
| 每股收益（稀释后） | $0.13 | $-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GMERBLX
| Q4 25 | $821.0M | $1.4B | ||
| Q3 25 | $972.2M | $1.4B | ||
| Q2 25 | $732.4M | $1.1B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $860.3M | $988.2M | ||
| Q3 24 | $798.3M | $919.0M | ||
| Q2 24 | $881.8M | $893.5M | ||
| Q1 24 | $1.8B | $801.3M |
净利润GMERBLX
| Q4 25 | $77.1M | $-316.0M | ||
| Q3 25 | $168.6M | $-255.6M | ||
| Q2 25 | $44.8M | $-278.4M | ||
| Q1 25 | $131.4M | $-215.1M | ||
| Q4 24 | $17.4M | $-219.6M | ||
| Q3 24 | $14.8M | $-239.3M | ||
| Q2 24 | $-32.3M | $-205.9M | ||
| Q1 24 | $63.1M | $-270.6M |
毛利率GMERBLX
| Q4 25 | 33.3% | 77.7% | ||
| Q3 25 | 29.1% | 78.2% | ||
| Q2 25 | 34.5% | 78.2% | ||
| Q1 25 | 28.3% | 78.3% | ||
| Q4 24 | 29.9% | 77.9% | ||
| Q3 24 | 31.2% | 77.7% | ||
| Q2 24 | 27.7% | 77.8% | ||
| Q1 24 | 23.4% | 77.7% |
营业利润率GMERBLX
| Q4 25 | 5.0% | -25.3% | ||
| Q3 25 | 6.8% | -21.8% | ||
| Q2 25 | -1.5% | -29.8% | ||
| Q1 25 | 6.2% | -24.6% | ||
| Q4 24 | -3.9% | -24.7% | ||
| Q3 24 | -2.8% | -30.4% | ||
| Q2 24 | -5.7% | -26.6% | ||
| Q1 24 | 3.1% | -37.7% |
净利率GMERBLX
| Q4 25 | 9.4% | -22.3% | ||
| Q3 25 | 17.3% | -18.8% | ||
| Q2 25 | 6.1% | -25.8% | ||
| Q1 25 | 10.2% | -20.8% | ||
| Q4 24 | 2.0% | -22.2% | ||
| Q3 24 | 1.9% | -26.0% | ||
| Q2 24 | -3.7% | -23.0% | ||
| Q1 24 | 3.5% | -33.8% |
每股收益（稀释后）GMERBLX
| Q4 25 | $0.13 | $-0.44 | ||
| Q3 25 | $0.31 | $-0.37 | ||
| Q2 25 | $0.09 | $-0.41 | ||
| Q1 25 | $0.36 | $-0.32 | ||
| Q4 24 | $0.04 | $-0.32 | ||
| Q3 24 | $0.04 | $-0.37 | ||
| Q2 24 | $-0.11 | $-0.32 | ||
| Q1 24 | $0.21 | $-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 | $8.8B | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $5.3B | $394.5M |
| 总资产 | $10.6B | $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GMERBLX
| Q4 25 | $8.8B | $3.1B | ||
| Q3 25 | $8.7B | $2.9B | ||
| Q2 25 | $6.4B | $2.6B | ||
| Q1 25 | $4.8B | $2.7B | ||
| Q4 24 | $4.6B | $2.4B | ||
| Q3 24 | $4.2B | $2.3B | ||
| Q2 24 | $1.1B | $2.4B | ||
| Q1 24 | $1.2B | $2.4B |
总债务GMERBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $16.9M | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $28.5M | — |
股东权益GMERBLX
| Q4 25 | $5.3B | $394.5M | ||
| Q3 25 | $5.2B | $407.6M | ||
| Q2 25 | $5.0B | $353.2M | ||
| Q1 25 | $4.9B | $310.7M | ||
| Q4 24 | $4.8B | $221.4M | ||
| Q3 24 | $4.4B | $189.9M | ||
| Q2 24 | $1.3B | $121.5M | ||
| Q1 24 | $1.3B | $71.6M |
总资产GMERBLX
| Q4 25 | $10.6B | $9.6B | ||
| Q3 25 | $10.3B | $8.6B | ||
| Q2 25 | $7.5B | $7.8B | ||
| Q1 25 | $5.9B | $7.5B | ||
| Q4 24 | $6.2B | $7.2B | ||
| Q3 24 | $5.5B | $6.7B | ||
| Q2 24 | $2.6B | $6.5B | ||
| Q1 24 | $2.7B | $6.3B |
负债/权益比GMERBLX
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | — | 5.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.02× | — |
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 | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $308.6M |
| 自由现金流率自由现金流/营收 | 13.0% | 21.8% |
| 资本支出强度资本支出/营收 | 0.5% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.44× | — |
| 过去12个月自由现金流最近4个季度 | $568.7M | $1.4B |
8季度趋势，按日历期对齐
经营现金流GMERBLX
| Q4 25 | $111.3M | $607.0M | ||
| Q3 25 | $117.4M | $546.2M | ||
| Q2 25 | $192.5M | $199.3M | ||
| Q1 25 | $162.3M | $443.9M | ||
| Q4 24 | $24.6M | $184.5M | ||
| Q3 24 | $68.6M | $247.4M | ||
| Q2 24 | $-109.8M | $151.4M | ||
| Q1 24 | $-11.0M | $238.9M |
自由现金流GMERBLX
| Q4 25 | $107.0M | $308.6M | ||
| Q3 25 | $113.3M | $443.6M | ||
| Q2 25 | $189.6M | $176.7M | ||
| Q1 25 | $158.8M | $426.5M | ||
| Q4 24 | $20.0M | $120.6M | ||
| Q3 24 | $65.5M | $218.0M | ||
| Q2 24 | $-114.7M | $111.7M | ||
| Q1 24 | $-18.7M | $192.3M |
自由现金流率GMERBLX
| Q4 25 | 13.0% | 21.8% | ||
| Q3 25 | 11.7% | 32.6% | ||
| Q2 25 | 25.9% | 16.3% | ||
| Q1 25 | 12.4% | 41.2% | ||
| Q4 24 | 2.3% | 12.2% | ||
| Q3 24 | 8.2% | 23.7% | ||
| Q2 24 | -13.0% | 12.5% | ||
| Q1 24 | -1.0% | 24.0% |
资本支出强度GMERBLX
| Q4 25 | 0.5% | 21.1% | ||
| Q3 25 | 0.4% | 7.5% | ||
| Q2 25 | 0.4% | 2.1% | ||
| Q1 25 | 0.3% | 1.7% | ||
| Q4 24 | 0.5% | 6.5% | ||
| Q3 24 | 0.4% | 3.2% | ||
| Q2 24 | 0.6% | 4.4% | ||
| Q1 24 | 0.4% | 5.8% |
现金转化率GMERBLX
| Q4 25 | 1.44× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 4.30× | — | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 4.64× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.17× | — |
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% |
RBLX
暂无分部数据
