vs
佳明（GRMN）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
佳明的季度营收约是罗布乐思的1.5倍（$2.1B vs $1.4B），佳明净利率更高（24.9% vs -22.3%，领先47.2%），罗布乐思同比增速更快（43.2% vs 16.6%），佳明自由现金流更多（$429.6M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 24.0%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
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。
GRMN vs RBLX — 直观对比
营收规模更大
GRMN
是对方的1.5倍
$1.4B
营收增速更快
RBLX
高出26.6%
16.6%
净利率更高
GRMN
高出47.2%
-22.3%
自由现金流更多
GRMN
多$121.0M
$308.6M
两年增速更快
RBLX
近两年复合增速
24.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $528.7M | $-316.0M |
| 毛利率 | 59.2% | 77.7% |
| 营业利润率 | 28.9% | -25.3% |
| 净利率 | 24.9% | -22.3% |
| 营收同比 | 16.6% | 43.2% |
| 净利润同比 | 21.3% | -43.9% |
| 每股收益（稀释后） | $2.72 | $-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GRMNRBLX
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.8B | $988.2M | ||
| Q3 24 | $1.6B | $919.0M | ||
| Q2 24 | $1.5B | $893.5M | ||
| Q1 24 | $1.4B | $801.3M |
净利润GRMNRBLX
| Q4 25 | $528.7M | $-316.0M | ||
| Q3 25 | $401.6M | $-255.6M | ||
| Q2 25 | $400.8M | $-278.4M | ||
| Q1 25 | $332.8M | $-215.1M | ||
| Q4 24 | $435.7M | $-219.6M | ||
| Q3 24 | $399.1M | $-239.3M | ||
| Q2 24 | $300.6M | $-205.9M | ||
| Q1 24 | $276.0M | $-270.6M |
毛利率GRMNRBLX
| Q4 25 | 59.2% | 77.7% | ||
| Q3 25 | 59.1% | 78.2% | ||
| Q2 25 | 58.8% | 78.2% | ||
| Q1 25 | 57.6% | 78.3% | ||
| Q4 24 | 59.3% | 77.9% | ||
| Q3 24 | 60.0% | 77.7% | ||
| Q2 24 | 57.3% | 77.8% | ||
| Q1 24 | 58.1% | 77.7% |
营业利润率GRMNRBLX
| Q4 25 | 28.9% | -25.3% | ||
| Q3 25 | 25.8% | -21.8% | ||
| Q2 25 | 26.0% | -29.8% | ||
| Q1 25 | 21.7% | -24.6% | ||
| Q4 24 | 28.3% | -24.7% | ||
| Q3 24 | 27.6% | -30.4% | ||
| Q2 24 | 22.7% | -26.6% | ||
| Q1 24 | 21.6% | -37.7% |
净利率GRMNRBLX
| Q4 25 | 24.9% | -22.3% | ||
| Q3 25 | 22.7% | -18.8% | ||
| Q2 25 | 22.1% | -25.8% | ||
| Q1 25 | 21.7% | -20.8% | ||
| Q4 24 | 23.9% | -22.2% | ||
| Q3 24 | 25.2% | -26.0% | ||
| Q2 24 | 20.0% | -23.0% | ||
| Q1 24 | 20.0% | -33.8% |
每股收益（稀释后）GRMNRBLX
| Q4 25 | $2.72 | $-0.44 | ||
| Q3 25 | $2.08 | $-0.37 | ||
| Q2 25 | $2.07 | $-0.41 | ||
| Q1 25 | $1.72 | $-0.32 | ||
| Q4 24 | $2.24 | $-0.32 | ||
| Q3 24 | $2.07 | $-0.37 | ||
| Q2 24 | $1.56 | $-0.32 | ||
| Q1 24 | $1.43 | $-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 | $2.3B | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $9.0B | $394.5M |
| 总资产 | $11.0B | $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GRMNRBLX
| Q4 25 | $2.3B | $3.1B | ||
| Q3 25 | $2.1B | $2.9B | ||
| Q2 25 | $2.1B | $2.6B | ||
| Q1 25 | $2.2B | $2.7B | ||
| Q4 24 | $2.1B | $2.4B | ||
| Q3 24 | $2.0B | $2.3B | ||
| Q2 24 | $1.9B | $2.4B | ||
| Q1 24 | $1.9B | $2.4B |
总债务GRMNRBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GRMNRBLX
| Q4 25 | $9.0B | $394.5M | ||
| Q3 25 | $8.5B | $407.6M | ||
| Q2 25 | $8.1B | $353.2M | ||
| Q1 25 | $8.2B | $310.7M | ||
| Q4 24 | $7.8B | $221.4M | ||
| Q3 24 | $7.5B | $189.9M | ||
| Q2 24 | $7.0B | $121.5M | ||
| Q1 24 | $7.2B | $71.6M |
总资产GRMNRBLX
| Q4 25 | $11.0B | $9.6B | ||
| Q3 25 | $10.5B | $8.6B | ||
| Q2 25 | $10.3B | $7.8B | ||
| Q1 25 | $9.8B | $7.5B | ||
| Q4 24 | $9.6B | $7.2B | ||
| Q3 24 | $9.3B | $6.7B | ||
| Q2 24 | $8.9B | $6.5B | ||
| Q1 24 | $8.6B | $6.3B |
负债/权益比GRMNRBLX
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $553.8M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | $308.6M |
| 自由现金流率自由现金流/营收 | 20.2% | 21.8% |
| 资本支出强度资本支出/营收 | 5.8% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.05× | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $1.4B |
8季度趋势，按日历期对齐
经营现金流GRMNRBLX
| Q4 25 | $553.8M | $607.0M | ||
| Q3 25 | $485.6M | $546.2M | ||
| Q2 25 | $173.2M | $199.3M | ||
| Q1 25 | $420.8M | $443.9M | ||
| Q4 24 | $483.9M | $184.5M | ||
| Q3 24 | $258.0M | $247.4M | ||
| Q2 24 | $255.3M | $151.4M | ||
| Q1 24 | $435.3M | $238.9M |
自由现金流GRMNRBLX
| Q4 25 | $429.6M | $308.6M | ||
| Q3 25 | $425.1M | $443.6M | ||
| Q2 25 | $127.5M | $176.7M | ||
| Q1 25 | $380.7M | $426.5M | ||
| Q4 24 | $399.2M | $120.6M | ||
| Q3 24 | $219.4M | $218.0M | ||
| Q2 24 | $218.2M | $111.7M | ||
| Q1 24 | $402.1M | $192.3M |
自由现金流率GRMNRBLX
| Q4 25 | 20.2% | 21.8% | ||
| Q3 25 | 24.0% | 32.6% | ||
| Q2 25 | 7.0% | 16.3% | ||
| Q1 25 | 24.8% | 41.2% | ||
| Q4 24 | 21.9% | 12.2% | ||
| Q3 24 | 13.8% | 23.7% | ||
| Q2 24 | 14.5% | 12.5% | ||
| Q1 24 | 29.1% | 24.0% |
资本支出强度GRMNRBLX
| Q4 25 | 5.8% | 21.1% | ||
| Q3 25 | 3.4% | 7.5% | ||
| Q2 25 | 2.5% | 2.1% | ||
| Q1 25 | 2.6% | 1.7% | ||
| Q4 24 | 4.6% | 6.5% | ||
| Q3 24 | 2.4% | 3.2% | ||
| Q2 24 | 2.5% | 4.4% | ||
| Q1 24 | 2.4% | 5.8% |
现金转化率GRMNRBLX
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.11× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 1.58× | — |
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
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
RBLX
暂无分部数据
