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IREN Ltd（IREN）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
IREN Ltd的季度营收约是Rocket Lab Corp的1.0倍（$184.7M vs $179.7M），Rocket Lab Corp净利率更高（-29.5% vs -84.1%，领先54.7%），IREN Ltd同比增速更快（59.0% vs 35.7%），Rocket Lab Corp自由现金流更多（$-114.2M vs $-468.0M）
IREN Ltd是一家垂直整合的数据中心企业，依托可再生能源为比特币、人工智能等前沿领域发展提供算力支撑，旗下设施策略性布局于美国及加拿大境内可再生能源丰富、光纤网络完善的区域。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
IREN vs RKLB — 直观对比
营收规模更大
IREN
是对方的1.0倍
$179.7M
营收增速更快
IREN
高出23.3%
35.7%
净利率更高
RKLB
高出54.7%
-84.1%
自由现金流更多
RKLB
多$353.9M
$-468.0M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $184.7M | $179.7M |
| 净利润 | $-155.4M | $-52.9M |
| 毛利率 | 64.4% | 38.0% |
| 营业利润率 | -63.0% | -28.4% |
| 净利率 | -84.1% | -29.5% |
| 营收同比 | 59.0% | 35.7% |
| 净利润同比 | -610.0% | -1.1% |
| 每股收益（稀释后） | $-0.52 | $-0.09 |
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IRENRKLB
| Q4 25 | $184.7M | $179.7M | ||
| Q3 25 | $240.3M | $155.1M | ||
| Q2 25 | — | $144.5M | ||
| Q1 25 | — | $122.6M | ||
| Q4 24 | $116.1M | $132.4M | ||
| Q3 24 | $52.8M | $104.8M | ||
| Q2 24 | — | $106.3M | ||
| Q1 24 | $54.3M | $92.8M |
净利润IRENRKLB
| Q4 25 | $-155.4M | $-52.9M | ||
| Q3 25 | $384.6M | $-18.3M | ||
| Q2 25 | — | $-66.4M | ||
| Q1 25 | — | $-60.6M | ||
| Q4 24 | $-21.9M | $-52.3M | ||
| Q3 24 | $-51.7M | $-51.9M | ||
| Q2 24 | — | $-41.6M | ||
| Q1 24 | $8.6M | $-44.3M |
毛利率IRENRKLB
| Q4 25 | 64.4% | 38.0% | ||
| Q3 25 | 66.4% | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | 72.2% | 27.8% | ||
| Q3 24 | 39.6% | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率IRENRKLB
| Q4 25 | -63.0% | -28.4% | ||
| Q3 25 | -31.8% | -38.0% | ||
| Q2 25 | — | -41.3% | ||
| Q1 25 | — | -48.3% | ||
| Q4 24 | 14.9% | -38.9% | ||
| Q3 24 | -89.2% | -49.5% | ||
| Q2 24 | — | -40.7% | ||
| Q1 24 | 11.1% | -46.4% |
净利率IRENRKLB
| Q4 25 | -84.1% | -29.5% | ||
| Q3 25 | 160.1% | -11.8% | ||
| Q2 25 | — | -46.0% | ||
| Q1 25 | — | -49.5% | ||
| Q4 24 | -18.8% | -39.5% | ||
| Q3 24 | -98.0% | -49.6% | ||
| Q2 24 | — | -39.2% | ||
| Q1 24 | 15.9% | -47.7% |
每股收益（稀释后）IRENRKLB
| Q4 25 | $-0.52 | $-0.09 | ||
| Q3 25 | $1.08 | $-0.03 | ||
| Q2 25 | — | $-0.13 | ||
| Q1 25 | — | $-0.12 | ||
| Q4 24 | $-0.10 | $-0.11 | ||
| Q3 24 | $-0.27 | $-0.10 | ||
| Q2 24 | — | $-0.08 | ||
| Q1 24 | $0.00 | $-0.09 |
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 | $3.3B | $1.0B |
| 总债务越低越好 | — | $152.4M |
| 股东权益账面价值 | $2.5B | $1.7B |
| 总资产 | $7.0B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资IRENRKLB
| Q4 25 | $3.3B | $1.0B | ||
| Q3 25 | $1.0B | $976.7M | ||
| Q2 25 | — | $688.1M | ||
| Q1 25 | — | $428.4M | ||
| Q4 24 | $427.3M | $419.0M | ||
| Q3 24 | $98.6M | $442.4M | ||
| Q2 24 | — | $496.8M | ||
| Q1 24 | $259.7M | $492.5M |
总债务IRENRKLB
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $347.0M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $345.9M | ||
| Q4 24 | — | $345.4M | ||
| Q3 24 | — | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益IRENRKLB
| Q4 25 | $2.5B | $1.7B | ||
| Q3 25 | $2.9B | $1.3B | ||
| Q2 25 | — | $688.5M | ||
| Q1 25 | — | $431.3M | ||
| Q4 24 | $1.2B | $382.5M | ||
| Q3 24 | $1.1B | $419.8M | ||
| Q2 24 | — | $455.2M | ||
| Q1 24 | $677.2M | $478.9M |
总资产IRENRKLB
| Q4 25 | $7.0B | $2.3B | ||
| Q3 25 | $4.3B | $2.2B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.9B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $723.6M | $1.2B |
负债/权益比IRENRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $71.7M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-468.0M | $-114.2M |
| 自由现金流率自由现金流/营收 | -253.4% | -63.6% |
| 资本支出强度资本支出/营收 | 292.2% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-701.2M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流IRENRKLB
| Q4 25 | $71.7M | $-64.5M | ||
| Q3 25 | $142.4M | $-23.5M | ||
| Q2 25 | — | $-23.2M | ||
| Q1 25 | — | $-54.2M | ||
| Q4 24 | $53.6M | $-2.4M | ||
| Q3 24 | $-3.9M | $-30.9M | ||
| Q2 24 | — | $-13.0M | ||
| Q1 24 | $-27.1M | $-2.6M |
自由现金流IRENRKLB
| Q4 25 | $-468.0M | $-114.2M | ||
| Q3 25 | $-38.0M | $-69.4M | ||
| Q2 25 | — | $-55.3M | ||
| Q1 25 | — | $-82.9M | ||
| Q4 24 | $-85.5M | $-23.9M | ||
| Q3 24 | $-109.7M | $-41.9M | ||
| Q2 24 | — | $-28.3M | ||
| Q1 24 | $-108.3M | $-21.8M |
自由现金流率IRENRKLB
| Q4 25 | -253.4% | -63.6% | ||
| Q3 25 | -15.8% | -44.8% | ||
| Q2 25 | — | -38.3% | ||
| Q1 25 | — | -67.6% | ||
| Q4 24 | -73.6% | -18.1% | ||
| Q3 24 | -208.0% | -40.0% | ||
| Q2 24 | — | -26.7% | ||
| Q1 24 | -199.4% | -23.5% |
资本支出强度IRENRKLB
| Q4 25 | 292.2% | 27.6% | ||
| Q3 25 | 75.0% | 29.6% | ||
| Q2 25 | — | 22.2% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | 119.7% | 16.3% | ||
| Q3 24 | 200.6% | 10.5% | ||
| Q2 24 | — | 14.4% | ||
| Q1 24 | 149.5% | 20.7% |
现金转化率IRENRKLB
| Q4 25 | — | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -3.13× | — |
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
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
