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埃培智集团（IPG）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
埃培智集团的季度营收约是罗布乐思的1.5倍（$2.1B vs $1.4B），埃培智集团净利率更高（5.8% vs -22.3%，领先28.1%），罗布乐思同比增速更快（43.2% vs -4.8%），罗布乐思自由现金流更多（$308.6M vs $153.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs -9.1%）
埃培智集团（IPG）是总部位于美国纽约的广告营销传播集团，旗下拥有FCB、IPG盟博、麦肯世界集团、睿狮集团等五大核心业务网络，以及公关、体育营销、艺人经纪、医疗营销等领域的多家专业独立代理商，被宏盟收购前是与WPP、阳狮、宏盟齐名的全球广告行业“四大集团”之一。
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。
IPG vs RBLX — 直观对比
营收规模更大
IPG
是对方的1.5倍
$1.4B
营收增速更快
RBLX
高出48.0%
-4.8%
净利率更高
IPG
高出28.1%
-22.3%
自由现金流更多
RBLX
多$155.0M
$153.6M
两年增速更快
RBLX
近两年复合增速
-9.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $124.2M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 10.3% | -25.3% |
| 净利率 | 5.8% | -22.3% |
| 营收同比 | -4.8% | 43.2% |
| 净利润同比 | 517.9% | -43.9% |
| 每股收益（稀释后） | $0.34 | $-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IPGRBLX
| Q4 25 | — | $1.4B | ||
| Q3 25 | $2.1B | $1.4B | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $2.0B | $1.0B | ||
| Q4 24 | $2.4B | $988.2M | ||
| Q3 24 | $2.2B | $919.0M | ||
| Q2 24 | $2.3B | $893.5M | ||
| Q1 24 | $2.2B | $801.3M |
净利润IPGRBLX
| Q4 25 | — | $-316.0M | ||
| Q3 25 | $124.2M | $-255.6M | ||
| Q2 25 | $162.5M | $-278.4M | ||
| Q1 25 | $-85.4M | $-215.1M | ||
| Q4 24 | $344.5M | $-219.6M | ||
| Q3 24 | $20.1M | $-239.3M | ||
| Q2 24 | $214.5M | $-205.9M | ||
| Q1 24 | $110.4M | $-270.6M |
毛利率IPGRBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | -3.2% | 78.3% | ||
| Q4 24 | 10.1% | 77.9% | ||
| Q3 24 | 2.9% | 77.7% | ||
| Q2 24 | 1.2% | 77.8% | ||
| Q1 24 | -1.1% | 77.7% |
营业利润率IPGRBLX
| Q4 25 | — | -25.3% | ||
| Q3 25 | 10.3% | -21.8% | ||
| Q2 25 | 11.2% | -29.8% | ||
| Q1 25 | -2.1% | -24.6% | ||
| Q4 24 | 23.3% | -24.7% | ||
| Q3 24 | 5.9% | -30.4% | ||
| Q2 24 | 13.7% | -26.6% | ||
| Q1 24 | 8.4% | -37.7% |
净利率IPGRBLX
| Q4 25 | — | -22.3% | ||
| Q3 25 | 5.8% | -18.8% | ||
| Q2 25 | 7.5% | -25.8% | ||
| Q1 25 | -4.3% | -20.8% | ||
| Q4 24 | 14.1% | -22.2% | ||
| Q3 24 | 0.9% | -26.0% | ||
| Q2 24 | 9.2% | -23.0% | ||
| Q1 24 | 5.1% | -33.8% |
每股收益（稀释后）IPGRBLX
| Q4 25 | — | $-0.44 | ||
| Q3 25 | $0.34 | $-0.37 | ||
| Q2 25 | $0.44 | $-0.41 | ||
| Q1 25 | $-0.23 | $-0.32 | ||
| Q4 24 | $0.92 | $-0.32 | ||
| Q3 24 | $0.05 | $-0.37 | ||
| Q2 24 | $0.57 | $-0.32 | ||
| Q1 24 | $0.29 | $-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 | $1.5B | $3.1B |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $3.7B | $394.5M |
| 总资产 | $17.0B | $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IPGRBLX
| Q4 25 | — | $3.1B | ||
| Q3 25 | $1.5B | $2.9B | ||
| Q2 25 | $1.6B | $2.6B | ||
| Q1 25 | $1.9B | $2.7B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $1.5B | $2.3B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.9B | $2.4B |
总债务IPGRBLX
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益IPGRBLX
| Q4 25 | — | $394.5M | ||
| Q3 25 | $3.7B | $407.6M | ||
| Q2 25 | $3.7B | $353.2M | ||
| Q1 25 | $3.6B | $310.7M | ||
| Q4 24 | $3.8B | $221.4M | ||
| Q3 24 | $3.7B | $189.9M | ||
| Q2 24 | $3.8B | $121.5M | ||
| Q1 24 | $3.8B | $71.6M |
总资产IPGRBLX
| Q4 25 | — | $9.6B | ||
| Q3 25 | $17.0B | $8.6B | ||
| Q2 25 | $17.0B | $7.8B | ||
| Q1 25 | $17.1B | $7.5B | ||
| Q4 24 | $18.3B | $7.2B | ||
| Q3 24 | $17.1B | $6.7B | ||
| Q2 24 | $17.0B | $6.5B | ||
| Q1 24 | $17.3B | $6.3B |
负债/权益比IPGRBLX
| 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 | $180.1M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $153.6M | $308.6M |
| 自由现金流率自由现金流/营收 | 7.2% | 21.8% |
| 资本支出强度资本支出/营收 | 1.2% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | $806.8M | $1.4B |
8季度趋势，按日历期对齐
经营现金流IPGRBLX
| Q4 25 | — | $607.0M | ||
| Q3 25 | $180.1M | $546.2M | ||
| Q2 25 | $-96.0M | $199.3M | ||
| Q1 25 | $-37.0M | $443.9M | ||
| Q4 24 | $868.1M | $184.5M | ||
| Q3 24 | $223.8M | $247.4M | ||
| Q2 24 | $120.7M | $151.4M | ||
| Q1 24 | $-157.4M | $238.9M |
自由现金流IPGRBLX
| Q4 25 | — | $308.6M | ||
| Q3 25 | $153.6M | $443.6M | ||
| Q2 25 | $-121.8M | $176.7M | ||
| Q1 25 | $-58.5M | $426.5M | ||
| Q4 24 | $833.5M | $120.6M | ||
| Q3 24 | $186.5M | $218.0M | ||
| Q2 24 | $85.9M | $111.7M | ||
| Q1 24 | $-192.5M | $192.3M |
自由现金流率IPGRBLX
| Q4 25 | — | 21.8% | ||
| Q3 25 | 7.2% | 32.6% | ||
| Q2 25 | -5.6% | 16.3% | ||
| Q1 25 | -2.9% | 41.2% | ||
| Q4 24 | 34.2% | 12.2% | ||
| Q3 24 | 8.3% | 23.7% | ||
| Q2 24 | 3.7% | 12.5% | ||
| Q1 24 | -8.8% | 24.0% |
资本支出强度IPGRBLX
| Q4 25 | — | 21.1% | ||
| Q3 25 | 1.2% | 7.5% | ||
| Q2 25 | 1.2% | 2.1% | ||
| Q1 25 | 1.1% | 1.7% | ||
| Q4 24 | 1.4% | 6.5% | ||
| Q3 24 | 1.7% | 3.2% | ||
| Q2 24 | 1.5% | 4.4% | ||
| Q1 24 | 1.6% | 5.8% |
现金转化率IPGRBLX
| Q4 25 | — | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.52× | — | ||
| Q3 24 | 11.13× | — | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | -1.43× | — |
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
IPG
| MDE | $619.0M | 29% |
| IAC | $574.9M | 27% |
| Other | $527.9M | 25% |
| SCE | $413.8M | 19% |
RBLX
暂无分部数据
