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伯克希尔·哈撒韦（HEI）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伯克希尔·哈撒韦的1.2倍（$1.4B vs $1.2B），伯克希尔·哈撒韦净利率更高（15.6% vs -22.3%，领先37.9%），罗布乐思同比增速更快（43.2% vs 19.3%），罗布乐思自由现金流更多（$308.6M vs $268.5M），过去两年罗布乐思的营收复合增速更高（32.9% vs 16.2%）
伯克希尔·哈撒韦是总部位于美国内布拉斯加州奥马哈的跨国综合控股集团，最初主营纺织品制造，1965年起在董事长兼首席执行官沃伦·巴菲特、副董事长查理·芒格的带领下转型为多元化企业集团，2026年初格雷格·阿贝尔接任首席执行官，巴菲特个人持有公司38.4%的A类有投票权股份，对应15.1%的整体经济权益。
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。
HEI vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.2倍
$1.2B
营收增速更快
RBLX
高出23.9%
19.3%
净利率更高
HEI
高出37.9%
-22.3%
自由现金流更多
RBLX
多$40.1M
$268.5M
两年增速更快
RBLX
近两年复合增速
16.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.4B |
| 净利润 | $188.3M | $-316.0M |
| 毛利率 | 40.2% | 77.7% |
| 营业利润率 | 23.1% | -25.3% |
| 净利率 | 15.6% | -22.3% |
| 营收同比 | 19.3% | 43.2% |
| 净利润同比 | 34.8% | -43.9% |
| 每股收益（稀释后） | $1.32 | $-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HEIRBLX
| Q4 25 | $1.2B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.0B | $1.0B | ||
| Q4 24 | $1.0B | $988.2M | ||
| Q3 24 | $992.2M | $919.0M | ||
| Q2 24 | $955.4M | $893.5M | ||
| Q1 24 | $896.4M | $801.3M |
净利润HEIRBLX
| Q4 25 | $188.3M | $-316.0M | ||
| Q3 25 | $177.3M | $-255.6M | ||
| Q2 25 | $156.8M | $-278.4M | ||
| Q1 25 | $168.0M | $-215.1M | ||
| Q4 24 | $139.7M | $-219.6M | ||
| Q3 24 | $136.6M | $-239.3M | ||
| Q2 24 | $123.1M | $-205.9M | ||
| Q1 24 | $114.7M | $-270.6M |
毛利率HEIRBLX
| Q4 25 | 40.2% | 77.7% | ||
| Q3 25 | 39.8% | 78.2% | ||
| Q2 25 | 39.9% | 78.2% | ||
| Q1 25 | 39.4% | 78.3% | ||
| Q4 24 | 38.9% | 77.9% | ||
| Q3 24 | 39.2% | 77.7% | ||
| Q2 24 | 38.9% | 77.8% | ||
| Q1 24 | 38.7% | 77.7% |
营业利润率HEIRBLX
| Q4 25 | 23.1% | -25.3% | ||
| Q3 25 | 23.1% | -21.8% | ||
| Q2 25 | 22.6% | -29.8% | ||
| Q1 25 | 22.0% | -24.6% | ||
| Q4 24 | 21.6% | -24.7% | ||
| Q3 24 | 21.8% | -30.4% | ||
| Q2 24 | 21.9% | -26.6% | ||
| Q1 24 | 20.1% | -37.7% |
净利率HEIRBLX
| Q4 25 | 15.6% | -22.3% | ||
| Q3 25 | 15.5% | -18.8% | ||
| Q2 25 | 14.3% | -25.8% | ||
| Q1 25 | 16.3% | -20.8% | ||
| Q4 24 | 13.8% | -22.2% | ||
| Q3 24 | 13.8% | -26.0% | ||
| Q2 24 | 12.9% | -23.0% | ||
| Q1 24 | 12.8% | -33.8% |
每股收益（稀释后）HEIRBLX
| Q4 25 | $1.32 | $-0.44 | ||
| Q3 25 | $1.26 | $-0.37 | ||
| Q2 25 | $1.12 | $-0.41 | ||
| Q1 25 | $1.20 | $-0.32 | ||
| Q4 24 | $1.00 | $-0.32 | ||
| Q3 24 | $0.97 | $-0.37 | ||
| Q2 24 | $0.88 | $-0.32 | ||
| Q1 24 | $0.82 | $-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 | $217.8M | $3.1B |
| 总债务越低越好 | $2.2B | $1.2B |
| 股东权益账面价值 | $4.3B | $394.5M |
| 总资产 | $8.5B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.50× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资HEIRBLX
| Q4 25 | $217.8M | $3.1B | ||
| Q3 25 | $261.9M | $2.9B | ||
| Q2 25 | $242.3M | $2.6B | ||
| Q1 25 | $165.5M | $2.7B | ||
| Q4 24 | $162.1M | $2.4B | ||
| Q3 24 | $202.9M | $2.3B | ||
| Q2 24 | $204.2M | $2.4B | ||
| Q1 24 | $196.3M | $2.4B |
总债务HEIRBLX
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.5B | — |
股东权益HEIRBLX
| Q4 25 | $4.3B | $394.5M | ||
| Q3 25 | $4.1B | $407.6M | ||
| Q2 25 | $4.0B | $353.2M | ||
| Q1 25 | $3.7B | $310.7M | ||
| Q4 24 | $3.6B | $221.4M | ||
| Q3 24 | $3.5B | $189.9M | ||
| Q2 24 | $3.4B | $121.5M | ||
| Q1 24 | $3.3B | $71.6M |
总资产HEIRBLX
| Q4 25 | $8.5B | $9.6B | ||
| Q3 25 | $8.5B | $8.6B | ||
| Q2 25 | $8.1B | $7.8B | ||
| Q1 25 | $7.9B | $7.5B | ||
| Q4 24 | $7.6B | $7.2B | ||
| Q3 24 | $7.4B | $6.7B | ||
| Q2 24 | $7.4B | $6.5B | ||
| Q1 24 | $7.3B | $6.3B |
负债/权益比HEIRBLX
| Q4 25 | 0.50× | 2.98× | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | 0.63× | — | ||
| Q4 24 | 0.61× | 5.48× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.76× | — |
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 | $295.3M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $268.5M | $308.6M |
| 自由现金流率自由现金流/营收 | 22.2% | 21.8% |
| 资本支出强度资本支出/营收 | 2.2% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.57× | — |
| 过去12个月自由现金流最近4个季度 | $861.4M | $1.4B |
8季度趋势，按日历期对齐
经营现金流HEIRBLX
| Q4 25 | $295.3M | $607.0M | ||
| Q3 25 | $231.2M | $546.2M | ||
| Q2 25 | $204.7M | $199.3M | ||
| Q1 25 | $203.0M | $443.9M | ||
| Q4 24 | $205.6M | $184.5M | ||
| Q3 24 | $214.0M | $247.4M | ||
| Q2 24 | $141.1M | $151.4M | ||
| Q1 24 | $111.7M | $238.9M |
自由现金流HEIRBLX
| Q4 25 | $268.5M | $308.6M | ||
| Q3 25 | $218.5M | $443.6M | ||
| Q2 25 | $188.7M | $176.7M | ||
| Q1 25 | $185.7M | $426.5M | ||
| Q4 24 | $189.5M | $120.6M | ||
| Q3 24 | $198.1M | $218.0M | ||
| Q2 24 | $128.2M | $111.7M | ||
| Q1 24 | $98.3M | $192.3M |
自由现金流率HEIRBLX
| Q4 25 | 22.2% | 21.8% | ||
| Q3 25 | 19.0% | 32.6% | ||
| Q2 25 | 17.2% | 16.3% | ||
| Q1 25 | 18.0% | 41.2% | ||
| Q4 24 | 18.7% | 12.2% | ||
| Q3 24 | 20.0% | 23.7% | ||
| Q2 24 | 13.4% | 12.5% | ||
| Q1 24 | 11.0% | 24.0% |
资本支出强度HEIRBLX
| Q4 25 | 2.2% | 21.1% | ||
| Q3 25 | 1.1% | 7.5% | ||
| Q2 25 | 1.5% | 2.1% | ||
| Q1 25 | 1.7% | 1.7% | ||
| Q4 24 | 1.6% | 6.5% | ||
| Q3 24 | 1.6% | 3.2% | ||
| Q2 24 | 1.4% | 4.4% | ||
| Q1 24 | 1.5% | 5.8% |
现金转化率HEIRBLX
| Q4 25 | 1.57× | — | ||
| Q3 25 | 1.30× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 1.21× | — | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.57× | — | ||
| Q2 24 | 1.15× | — | ||
| Q1 24 | 0.97× | — |
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
HEI
| Aftermarket Replacement Parts | $510.0M | 42% |
| Electronic Componentsfor Defense Spaceand Aerospace | $311.8M | 26% |
| Defenseand Space | $170.6M | 14% |
| Specialty Products | $118.9M | 10% |
| Other Electronic Components | $73.0M | 6% |
| Other Industries | $15.9M | 1% |
RBLX
暂无分部数据
