vs
华利安（HLI）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华利安的2.0倍（$1.4B vs $717.1M），华利安净利率更高（16.3% vs -22.3%，领先38.6%），罗布乐思同比增速更快（43.2% vs 13.0%），罗布乐思自由现金流更多（$308.6M vs $217.0M），过去两年罗布乐思的营收复合增速更高（32.9% vs 17.4%）
华利安是美国知名跨国独立投资银行及金融服务机构，1972年成立，总部位于加利福尼亚州洛杉矶世纪城的星座广场。公司为上市企业、非公众公司、机构及政府主体提供专业服务，核心业务涵盖并购咨询、资本解决方案、重组与困境并购、公允意见出具，以及财务与估值顾问等领域。
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。
HLI vs RBLX — 直观对比
营收规模更大
RBLX
是对方的2.0倍
$717.1M
营收增速更快
RBLX
高出30.2%
13.0%
净利率更高
HLI
高出38.6%
-22.3%
自由现金流更多
RBLX
多$91.5M
$217.0M
两年增速更快
RBLX
近两年复合增速
17.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $717.1M | $1.4B |
| 净利润 | $116.5M | $-316.0M |
| 毛利率 | 32.2% | 77.7% |
| 营业利润率 | 22.4% | -25.3% |
| 净利率 | 16.3% | -22.3% |
| 营收同比 | 13.0% | 43.2% |
| 净利润同比 | 22.3% | -43.9% |
| 每股收益（稀释后） | $1.70 | $-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HLIRBLX
| Q4 25 | $717.1M | $1.4B | ||
| Q3 25 | $659.5M | $1.4B | ||
| Q2 25 | $605.3M | $1.1B | ||
| Q1 25 | $666.4M | $1.0B | ||
| Q4 24 | $634.4M | $988.2M | ||
| Q3 24 | $575.0M | $919.0M | ||
| Q2 24 | $513.6M | $893.5M | ||
| Q1 24 | $520.5M | $801.3M |
净利润HLIRBLX
| Q4 25 | $116.5M | $-316.0M | ||
| Q3 25 | $111.8M | $-255.6M | ||
| Q2 25 | $97.5M | $-278.4M | ||
| Q1 25 | $121.9M | $-215.1M | ||
| Q4 24 | $95.3M | $-219.6M | ||
| Q3 24 | $93.5M | $-239.3M | ||
| Q2 24 | $88.9M | $-205.9M | ||
| Q1 24 | $81.1M | $-270.6M |
毛利率HLIRBLX
| Q4 25 | 32.2% | 77.7% | ||
| Q3 25 | 33.8% | 78.2% | ||
| Q2 25 | 31.0% | 78.2% | ||
| Q1 25 | 33.9% | 78.3% | ||
| Q4 24 | 31.4% | 77.9% | ||
| Q3 24 | 33.0% | 77.7% | ||
| Q2 24 | 30.6% | 77.8% | ||
| Q1 24 | 30.3% | 77.7% |
营业利润率HLIRBLX
| Q4 25 | 22.4% | -25.3% | ||
| Q3 25 | 22.9% | -21.8% | ||
| Q2 25 | 14.8% | -29.8% | ||
| Q1 25 | 20.9% | -24.6% | ||
| Q4 24 | 21.5% | -24.7% | ||
| Q3 24 | 22.7% | -30.4% | ||
| Q2 24 | 18.6% | -26.6% | ||
| Q1 24 | 19.7% | -37.7% |
净利率HLIRBLX
| Q4 25 | 16.3% | -22.3% | ||
| Q3 25 | 17.0% | -18.8% | ||
| Q2 25 | 16.1% | -25.8% | ||
| Q1 25 | 18.3% | -20.8% | ||
| Q4 24 | 15.0% | -22.2% | ||
| Q3 24 | 16.3% | -26.0% | ||
| Q2 24 | 17.3% | -23.0% | ||
| Q1 24 | 15.6% | -33.8% |
每股收益（稀释后）HLIRBLX
| Q4 25 | $1.70 | $-0.44 | ||
| Q3 25 | $1.63 | $-0.37 | ||
| Q2 25 | $1.42 | $-0.41 | ||
| Q1 25 | $1.76 | $-0.32 | ||
| Q4 24 | $1.39 | $-0.32 | ||
| Q3 24 | $1.37 | $-0.37 | ||
| Q2 24 | $1.30 | $-0.32 | ||
| Q1 24 | $1.18 | $-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 | $1.1B | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $2.3B | $394.5M |
| 总资产 | $3.9B | $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HLIRBLX
| Q4 25 | $1.1B | $3.1B | ||
| Q3 25 | $923.6M | $2.9B | ||
| Q2 25 | $793.8M | $2.6B | ||
| Q1 25 | $971.0M | $2.7B | ||
| Q4 24 | $799.3M | $2.4B | ||
| Q3 24 | $691.4M | $2.3B | ||
| Q2 24 | $449.7M | $2.4B | ||
| Q1 24 | $721.2M | $2.4B |
总债务HLIRBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HLIRBLX
| Q4 25 | $2.3B | $394.5M | ||
| Q3 25 | $2.2B | $407.6M | ||
| Q2 25 | $2.2B | $353.2M | ||
| Q1 25 | $2.2B | $310.7M | ||
| Q4 24 | $2.1B | $221.4M | ||
| Q3 24 | $2.0B | $189.9M | ||
| Q2 24 | $1.8B | $121.5M | ||
| Q1 24 | $1.8B | $71.6M |
总资产HLIRBLX
| Q4 25 | $3.9B | $9.6B | ||
| Q3 25 | $3.8B | $8.6B | ||
| Q2 25 | $3.5B | $7.8B | ||
| Q1 25 | $3.8B | $7.5B | ||
| Q4 24 | $3.5B | $7.2B | ||
| Q3 24 | $3.2B | $6.7B | ||
| Q2 24 | $2.9B | $6.5B | ||
| Q1 24 | $3.2B | $6.3B |
负债/权益比HLIRBLX
| 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 | $217.7M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $217.0M | $308.6M |
| 自由现金流率自由现金流/营收 | 30.3% | 21.8% |
| 资本支出强度资本支出/营收 | 0.1% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.87× | — |
| 过去12个月自由现金流最近4个季度 | $738.9M | $1.4B |
8季度趋势，按日历期对齐
经营现金流HLIRBLX
| Q4 25 | $217.7M | $607.0M | ||
| Q3 25 | $325.0M | $546.2M | ||
| Q2 25 | $-131.6M | $199.3M | ||
| Q1 25 | $358.4M | $443.9M | ||
| Q4 24 | $265.5M | $184.5M | ||
| Q3 24 | $289.2M | $247.4M | ||
| Q2 24 | $-64.5M | $151.4M | ||
| Q1 24 | $225.3M | $238.9M |
自由现金流HLIRBLX
| Q4 25 | $217.0M | $308.6M | ||
| Q3 25 | $322.8M | $443.6M | ||
| Q2 25 | $-144.8M | $176.7M | ||
| Q1 25 | $343.9M | $426.5M | ||
| Q4 24 | $261.7M | $120.6M | ||
| Q3 24 | $278.7M | $218.0M | ||
| Q2 24 | $-75.4M | $111.7M | ||
| Q1 24 | $213.1M | $192.3M |
自由现金流率HLIRBLX
| Q4 25 | 30.3% | 21.8% | ||
| Q3 25 | 49.0% | 32.6% | ||
| Q2 25 | -23.9% | 16.3% | ||
| Q1 25 | 51.6% | 41.2% | ||
| Q4 24 | 41.2% | 12.2% | ||
| Q3 24 | 48.5% | 23.7% | ||
| Q2 24 | -14.7% | 12.5% | ||
| Q1 24 | 40.9% | 24.0% |
资本支出强度HLIRBLX
| Q4 25 | 0.1% | 21.1% | ||
| Q3 25 | 0.3% | 7.5% | ||
| Q2 25 | 2.2% | 2.1% | ||
| Q1 25 | 2.2% | 1.7% | ||
| Q4 24 | 0.6% | 6.5% | ||
| Q3 24 | 1.8% | 3.2% | ||
| Q2 24 | 2.1% | 4.4% | ||
| Q1 24 | 2.3% | 5.8% |
现金转化率HLIRBLX
| Q4 25 | 1.87× | — | ||
| Q3 25 | 2.91× | — | ||
| Q2 25 | -1.35× | — | ||
| Q1 25 | 2.94× | — | ||
| Q4 24 | 2.79× | — | ||
| Q3 24 | 3.09× | — | ||
| Q2 24 | -0.73× | — | ||
| Q1 24 | 2.78× | — |
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
HLI
| Corporate Finance | $473.7M | 66% |
| Financial Restructuring | $156.3M | 22% |
| Financial Advisory Services | $87.1M | 12% |
RBLX
暂无分部数据
