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游戏驿站（GME）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
游戏驿站的季度营收约是Ubiquiti Inc.的1.0倍（$821.0M vs $814.9M），Ubiquiti Inc.净利率更高（28.7% vs 9.4%，领先19.3%），Ubiquiti Inc.同比增速更快（35.8% vs -4.6%），Ubiquiti Inc.自由现金流更多（$260.3M vs $107.0M），过去两年Ubiquiti Inc.的营收复合增速更高（28.6% 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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
GME vs UI — 直观对比
营收规模更大
GME
是对方的1.0倍
$814.9M
营收增速更快
UI
高出40.4%
-4.6%
净利率更高
UI
高出19.3%
9.4%
自由现金流更多
UI
多$153.3M
$107.0M
两年增速更快
UI
近两年复合增速
-32.3%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $821.0M | $814.9M |
| 净利润 | $77.1M | $233.6M |
| 毛利率 | 33.3% | 45.9% |
| 营业利润率 | 5.0% | 35.9% |
| 净利率 | 9.4% | 28.7% |
| 营收同比 | -4.6% | 35.8% |
| 净利润同比 | 343.1% | 70.8% |
| 每股收益（稀释后） | $0.13 | $3.86 |
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GMEUI
| Q4 25 | $821.0M | $814.9M | ||
| Q3 25 | $972.2M | $733.8M | ||
| Q2 25 | $732.4M | $759.2M | ||
| Q1 25 | $1.3B | $664.2M | ||
| Q4 24 | $860.3M | $599.9M | ||
| Q3 24 | $798.3M | $550.3M | ||
| Q2 24 | $881.8M | $507.5M | ||
| Q1 24 | $1.8B | $493.0M |
净利润GMEUI
| Q4 25 | $77.1M | $233.6M | ||
| Q3 25 | $168.6M | $207.9M | ||
| Q2 25 | $44.8M | $266.7M | ||
| Q1 25 | $131.4M | $180.4M | ||
| Q4 24 | $17.4M | $136.8M | ||
| Q3 24 | $14.8M | $128.0M | ||
| Q2 24 | $-32.3M | $103.8M | ||
| Q1 24 | $63.1M | $76.3M |
毛利率GMEUI
| Q4 25 | 33.3% | 45.9% | ||
| Q3 25 | 29.1% | 46.0% | ||
| Q2 25 | 34.5% | 45.1% | ||
| Q1 25 | 28.3% | 44.5% | ||
| Q4 24 | 29.9% | 41.2% | ||
| Q3 24 | 31.2% | 42.1% | ||
| Q2 24 | 27.7% | 40.2% | ||
| Q1 24 | 23.4% | 35.3% |
营业利润率GMEUI
| Q4 25 | 5.0% | 35.9% | ||
| Q3 25 | 6.8% | 35.7% | ||
| Q2 25 | -1.5% | 34.4% | ||
| Q1 25 | 6.2% | 34.2% | ||
| Q4 24 | -3.9% | 29.8% | ||
| Q3 24 | -2.8% | 30.7% | ||
| Q2 24 | -5.7% | 27.3% | ||
| Q1 24 | 3.1% | 22.6% |
净利率GMEUI
| Q4 25 | 9.4% | 28.7% | ||
| Q3 25 | 17.3% | 28.3% | ||
| Q2 25 | 6.1% | 35.1% | ||
| Q1 25 | 10.2% | 27.2% | ||
| Q4 24 | 2.0% | 22.8% | ||
| Q3 24 | 1.9% | 23.3% | ||
| Q2 24 | -3.7% | 20.5% | ||
| Q1 24 | 3.5% | 15.5% |
每股收益（稀释后）GMEUI
| Q4 25 | $0.13 | $3.86 | ||
| Q3 25 | $0.31 | $3.43 | ||
| Q2 25 | $0.09 | $4.40 | ||
| Q1 25 | $0.36 | $2.98 | ||
| Q4 24 | $0.04 | $2.26 | ||
| Q3 24 | $0.04 | $2.12 | ||
| Q2 24 | $-0.11 | $1.72 | ||
| Q1 24 | $0.21 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | — | $47.5M |
| 股东权益账面价值 | $5.3B | $1.0B |
| 总资产 | $10.6B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资GMEUI
| Q4 25 | $8.8B | $302.8M | ||
| Q3 25 | $8.7B | $177.2M | ||
| Q2 25 | $6.4B | $149.7M | ||
| Q1 25 | $4.8B | $151.0M | ||
| Q4 24 | $4.6B | $133.1M | ||
| Q3 24 | $4.2B | $165.2M | ||
| Q2 24 | $1.1B | $126.3M | ||
| Q1 24 | $1.2B | $102.5M |
总债务GMEUI
| Q4 25 | — | $47.5M | ||
| Q3 25 | — | $133.8M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | $16.9M | $340.0M | ||
| Q4 24 | — | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | $28.5M | $877.5M |
股东权益GMEUI
| Q4 25 | $5.3B | $1.0B | ||
| Q3 25 | $5.2B | $828.4M | ||
| Q2 25 | $5.0B | $668.3M | ||
| Q1 25 | $4.9B | $436.1M | ||
| Q4 24 | $4.8B | $290.4M | ||
| Q3 24 | $4.4B | $188.1M | ||
| Q2 24 | $1.3B | $95.1M | ||
| Q1 24 | $1.3B | $25.9M |
总资产GMEUI
| Q4 25 | $10.6B | $1.6B | ||
| Q3 25 | $10.3B | $1.5B | ||
| Q2 25 | $7.5B | $1.5B | ||
| Q1 25 | $5.9B | $1.3B | ||
| Q4 24 | $6.2B | $1.2B | ||
| Q3 24 | $5.5B | $1.2B | ||
| Q2 24 | $2.6B | $1.2B | ||
| Q1 24 | $2.7B | $1.2B |
负债/权益比GMEUI
| Q4 25 | — | 0.05× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | 0.00× | 0.78× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | 0.02× | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $107.0M | $260.3M |
| 自由现金流率自由现金流/营收 | 13.0% | 31.9% |
| 资本支出强度资本支出/营收 | 0.5% | 0.4% |
| 现金转化率经营现金流/净利润 | 1.44× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $568.7M | $699.5M |
8季度趋势，按日历期对齐
经营现金流GMEUI
| Q4 25 | $111.3M | $263.9M | ||
| Q3 25 | $117.4M | $198.5M | ||
| Q2 25 | $192.5M | $130.4M | ||
| Q1 25 | $162.3M | $123.6M | ||
| Q4 24 | $24.6M | $152.4M | ||
| Q3 24 | $68.6M | $233.7M | ||
| Q2 24 | $-109.8M | $231.4M | ||
| Q1 24 | $-11.0M | $163.9M |
自由现金流GMEUI
| Q4 25 | $107.0M | $260.3M | ||
| Q3 25 | $113.3M | $193.3M | ||
| Q2 25 | $189.6M | $125.2M | ||
| Q1 25 | $158.8M | $120.7M | ||
| Q4 24 | $20.0M | $150.4M | ||
| Q3 24 | $65.5M | $231.1M | ||
| Q2 24 | $-114.7M | $229.5M | ||
| Q1 24 | $-18.7M | $160.6M |
自由现金流率GMEUI
| Q4 25 | 13.0% | 31.9% | ||
| Q3 25 | 11.7% | 26.3% | ||
| Q2 25 | 25.9% | 16.5% | ||
| Q1 25 | 12.4% | 18.2% | ||
| Q4 24 | 2.3% | 25.1% | ||
| Q3 24 | 8.2% | 42.0% | ||
| Q2 24 | -13.0% | 45.2% | ||
| Q1 24 | -1.0% | 32.6% |
资本支出强度GMEUI
| Q4 25 | 0.5% | 0.4% | ||
| Q3 25 | 0.4% | 0.7% | ||
| Q2 25 | 0.4% | 0.7% | ||
| Q1 25 | 0.3% | 0.4% | ||
| Q4 24 | 0.5% | 0.3% | ||
| Q3 24 | 0.4% | 0.5% | ||
| Q2 24 | 0.6% | 0.4% | ||
| Q1 24 | 0.4% | 0.7% |
现金转化率GMEUI
| Q4 25 | 1.44× | 1.13× | ||
| Q3 25 | 0.70× | 0.95× | ||
| Q2 25 | 4.30× | 0.49× | ||
| Q1 25 | 1.24× | 0.68× | ||
| Q4 24 | 1.41× | 1.11× | ||
| Q3 24 | 4.64× | 1.83× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | -0.17× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
