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孩之宝（HAS）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
孩之宝的季度营收约是罗布乐思的1.0倍（$1.4B vs $1.4B），孩之宝净利率更高（13.9% vs -22.3%，领先36.3%），罗布乐思同比增速更快（43.2% vs 31.3%），孩之宝自由现金流更多（$389.5M vs $308.6M），过去两年孩之宝的营收复合增速更高（38.2% vs 32.9%）
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
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。
HAS vs RBLX — 直观对比
营收规模更大
HAS
是对方的1.0倍
$1.4B
营收增速更快
RBLX
高出11.9%
31.3%
净利率更高
HAS
高出36.3%
-22.3%
自由现金流更多
HAS
多$80.9M
$308.6M
两年增速更快
HAS
近两年复合增速
32.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.4B |
| 净利润 | $201.6M | $-316.0M |
| 毛利率 | 68.7% | 77.7% |
| 营业利润率 | 20.6% | -25.3% |
| 净利率 | 13.9% | -22.3% |
| 营收同比 | 31.3% | 43.2% |
| 净利润同比 | 687.8% | -43.9% |
| 每股收益（稀释后） | $1.46 | $-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HASRBLX
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $980.8M | $1.1B | ||
| Q1 25 | $887.1M | $1.0B | ||
| Q4 24 | $1.1B | $988.2M | ||
| Q3 24 | $1.3B | $919.0M | ||
| Q2 24 | $995.3M | $893.5M | ||
| Q1 24 | $757.3M | $801.3M |
净利润HASRBLX
| Q4 25 | $201.6M | $-316.0M | ||
| Q3 25 | $233.2M | $-255.6M | ||
| Q2 25 | $-855.8M | $-278.4M | ||
| Q1 25 | $98.6M | $-215.1M | ||
| Q4 24 | $-34.3M | $-219.6M | ||
| Q3 24 | $223.2M | $-239.3M | ||
| Q2 24 | $138.5M | $-205.9M | ||
| Q1 24 | $58.2M | $-270.6M |
毛利率HASRBLX
| Q4 25 | 68.7% | 77.7% | ||
| Q3 25 | 70.1% | 78.2% | ||
| Q2 25 | 77.0% | 78.2% | ||
| Q1 25 | 76.9% | 78.3% | ||
| Q4 24 | 67.4% | 77.9% | ||
| Q3 24 | 70.4% | 77.7% | ||
| Q2 24 | 76.1% | 77.8% | ||
| Q1 24 | 73.0% | 77.7% |
营业利润率HASRBLX
| Q4 25 | 20.6% | -25.3% | ||
| Q3 25 | 24.6% | -21.8% | ||
| Q2 25 | -81.4% | -29.8% | ||
| Q1 25 | 19.2% | -24.6% | ||
| Q4 24 | 5.4% | -24.7% | ||
| Q3 24 | 23.6% | -30.4% | ||
| Q2 24 | 21.3% | -26.6% | ||
| Q1 24 | 15.3% | -37.7% |
净利率HASRBLX
| Q4 25 | 13.9% | -22.3% | ||
| Q3 25 | 16.8% | -18.8% | ||
| Q2 25 | -87.3% | -25.8% | ||
| Q1 25 | 11.1% | -20.8% | ||
| Q4 24 | -3.1% | -22.2% | ||
| Q3 24 | 17.4% | -26.0% | ||
| Q2 24 | 13.9% | -23.0% | ||
| Q1 24 | 7.7% | -33.8% |
每股收益（稀释后）HASRBLX
| Q4 25 | $1.46 | $-0.44 | ||
| Q3 25 | $1.64 | $-0.37 | ||
| Q2 25 | $-6.10 | $-0.41 | ||
| Q1 25 | $0.70 | $-0.32 | ||
| Q4 24 | $-0.25 | $-0.32 | ||
| Q3 24 | $1.59 | $-0.37 | ||
| Q2 24 | $0.99 | $-0.32 | ||
| Q1 24 | $0.42 | $-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 | — | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $565.5M | $394.5M |
| 总资产 | $5.6B | $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HASRBLX
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总债务HASRBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HASRBLX
| Q4 25 | $565.5M | $394.5M | ||
| Q3 25 | $433.8M | $407.6M | ||
| Q2 25 | $269.7M | $353.2M | ||
| Q1 25 | $1.2B | $310.7M | ||
| Q4 24 | $1.2B | $221.4M | ||
| Q3 24 | $1.3B | $189.9M | ||
| Q2 24 | $1.2B | $121.5M | ||
| Q1 24 | $1.0B | $71.6M |
总资产HASRBLX
| Q4 25 | $5.6B | $9.6B | ||
| Q3 25 | $5.5B | $8.6B | ||
| Q2 25 | $5.2B | $7.8B | ||
| Q1 25 | $6.0B | $7.5B | ||
| Q4 24 | $6.3B | $7.2B | ||
| Q3 24 | $7.2B | $6.7B | ||
| Q2 24 | $6.9B | $6.5B | ||
| Q1 24 | $6.2B | $6.3B |
负债/权益比HASRBLX
| 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 | $403.2M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $308.6M |
| 自由现金流率自由现金流/营收 | 26.9% | 21.8% |
| 资本支出强度资本支出/营收 | 0.9% | 21.1% |
| 现金转化率经营现金流/净利润 | 2.00× | — |
| 过去12个月自由现金流最近4个季度 | $829.9M | $1.4B |
8季度趋势，按日历期对齐
经营现金流HASRBLX
| Q4 25 | $403.2M | $607.0M | ||
| Q3 25 | $280.6M | $546.2M | ||
| Q2 25 | $71.3M | $199.3M | ||
| Q1 25 | $138.1M | $443.9M | ||
| Q4 24 | $259.8M | $184.5M | ||
| Q3 24 | $222.5M | $247.4M | ||
| Q2 24 | $187.3M | $151.4M | ||
| Q1 24 | $177.8M | $238.9M |
自由现金流HASRBLX
| Q4 25 | $389.5M | $308.6M | ||
| Q3 25 | $260.9M | $443.6M | ||
| Q2 25 | $55.2M | $176.7M | ||
| Q1 25 | $124.3M | $426.5M | ||
| Q4 24 | $200.8M | $120.6M | ||
| Q3 24 | $174.0M | $218.0M | ||
| Q2 24 | $135.4M | $111.7M | ||
| Q1 24 | $132.0M | $192.3M |
自由现金流率HASRBLX
| Q4 25 | 26.9% | 21.8% | ||
| Q3 25 | 18.8% | 32.6% | ||
| Q2 25 | 5.6% | 16.3% | ||
| Q1 25 | 14.0% | 41.2% | ||
| Q4 24 | 18.2% | 12.2% | ||
| Q3 24 | 13.6% | 23.7% | ||
| Q2 24 | 13.6% | 12.5% | ||
| Q1 24 | 17.4% | 24.0% |
资本支出强度HASRBLX
| Q4 25 | 0.9% | 21.1% | ||
| Q3 25 | 1.4% | 7.5% | ||
| Q2 25 | 1.6% | 2.1% | ||
| Q1 25 | 1.6% | 1.7% | ||
| Q4 24 | 5.4% | 6.5% | ||
| Q3 24 | 3.8% | 3.2% | ||
| Q2 24 | 5.2% | 4.4% | ||
| Q1 24 | 6.0% | 5.8% |
现金转化率HASRBLX
| Q4 25 | 2.00× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.35× | — | ||
| Q1 24 | 3.05× | — |
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
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
RBLX
暂无分部数据
