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虎牙（HUYA）与IMMERSION CORP（IMMR）财务数据对比。点击上方公司名可切换其他公司
IMMERSION CORP的季度营收约是虎牙的1.6倍（$372.9M vs $237.1M），虎牙净利率更高（0.6% vs -4.6%，领先5.1%），过去两年IMMERSION CORP的营收复合增速更高（537.9% vs 2.5%）
虎牙公司是中国领先的互动直播平台，核心业务为游戏直播，同时覆盖电竞赛事、娱乐综艺、生活方式、知识科普等多元内容领域，面向国内年轻互联网用户提供高互动性的数字娱乐内容服务。
Immersion Corporation总部位于佛罗里达州阿文图拉，主要研发并授权触觉反馈技术（即触感技术）。公司由路易斯·罗森伯格于1993年创立，目前由律师弗朗西斯·何塞掌管，他同时担任首席执行官与总法律顾问一职。
HUYA vs IMMR — 直观对比
营收规模更大
IMMR
是对方的1.6倍
$237.1M
净利率更高
HUYA
高出5.1%
-4.6%
两年增速更快
IMMR
近两年复合增速
2.5%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $237.1M | $372.9M |
| 净利润 | $1.3M | $-17.0M |
| 毛利率 | 13.4% | — |
| 营业利润率 | -0.8% | -2.8% |
| 净利率 | 0.6% | -4.6% |
| 营收同比 | — | 750.4% |
| 净利润同比 | — | -191.3% |
| 每股收益（稀释后） | — | $-0.57 |
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HUYAIMMR
| Q3 25 | $237.1M | — | ||
| Q2 25 | $218.8M | $372.9M | ||
| Q1 25 | $207.9M | $471.3M | ||
| Q4 24 | — | $616.2M | ||
| Q3 24 | $219.1M | — | ||
| Q2 24 | $212.1M | $95.5M | ||
| Q1 24 | $208.3M | $43.8M | ||
| Q4 23 | $224.2M | — |
净利润HUYAIMMR
| Q3 25 | $1.3M | — | ||
| Q2 25 | $-766.0K | $-17.0M | ||
| Q1 25 | $128.0K | $24.1M | ||
| Q4 24 | — | $30.8M | ||
| Q3 24 | $3.4M | — | ||
| Q2 24 | $4.1M | $26.4M | ||
| Q1 24 | $9.8M | $18.7M | ||
| Q4 23 | — | — |
毛利率HUYAIMMR
| Q3 25 | 13.4% | — | ||
| Q2 25 | 13.5% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 13.9% | — | ||
| Q1 24 | 14.7% | — | ||
| Q4 23 | — | — |
营业利润率HUYAIMMR
| Q3 25 | -0.8% | — | ||
| Q2 25 | -1.5% | -2.8% | ||
| Q1 25 | -4.0% | 7.5% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | -2.1% | — | ||
| Q2 24 | -1.7% | 23.7% | ||
| Q1 24 | -2.6% | 37.9% | ||
| Q4 23 | — | — |
净利率HUYAIMMR
| Q3 25 | 0.6% | — | ||
| Q2 25 | -0.4% | -4.6% | ||
| Q1 25 | 0.1% | 5.1% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.9% | 27.7% | ||
| Q1 24 | 4.7% | 42.5% | ||
| Q4 23 | — | — |
每股收益（稀释后）HUYAIMMR
| Q3 25 | — | — | ||
| Q2 25 | — | $-0.57 | ||
| Q1 25 | — | $0.73 | ||
| Q4 24 | — | $0.93 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $0.81 | ||
| Q1 24 | — | $0.59 | ||
| Q4 23 | — | — |
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 | $102.0M | $161.4M |
| 总债务越低越好 | — | $103.1M |
| 股东权益账面价值 | $709.9M | $298.1M |
| 总资产 | $960.3M | $1.1B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资HUYAIMMR
| Q3 25 | $102.0M | — | ||
| Q2 25 | $69.7M | $161.4M | ||
| Q1 25 | $40.9M | $153.9M | ||
| Q4 24 | — | $159.3M | ||
| Q3 24 | $156.1M | — | ||
| Q2 24 | $138.4M | $133.4M | ||
| Q1 24 | $75.1M | $179.1M | ||
| Q4 23 | $72.1M | — |
总债务HUYAIMMR
| Q3 25 | — | — | ||
| Q2 25 | — | $103.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
股东权益HUYAIMMR
| Q3 25 | $709.9M | — | ||
| Q2 25 | $704.3M | $298.1M | ||
| Q1 25 | $711.2M | $317.9M | ||
| Q4 24 | — | $305.5M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | $273.4M | ||
| Q1 24 | $1.3B | $201.5M | ||
| Q4 23 | $1.5B | — |
总资产HUYAIMMR
| Q3 25 | $960.3M | — | ||
| Q2 25 | $928.0M | $1.1B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.7B | $244.7M | ||
| Q4 23 | $1.8B | — |
负债/权益比HUYAIMMR
| Q3 25 | — | — | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
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
HUYA
| Live streaming | $162.5M | 69% |
| Game-related services, advertising and others | $74.7M | 31% |
IMMR
| Course Material Sale | $150.9M | 40% |
| General Merchandise Sale | $138.0M | 37% |
| Rental Services | $51.8M | 14% |
| Services And Other Revenue | $25.6M | 7% |
| Per Unit Royalties | $1.8M | 0% |
