vs
KeyCorp（KEY）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
KeyCorp的季度营收约是罗布乐思的1.4倍（$2.0B vs $1.4B），KeyCorp净利率更高（25.4% vs -22.3%，领先47.8%），KeyCorp同比增速更快（131.8% vs 43.2%），KeyCorp自由现金流更多（$2.1B vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 14.4%）
Key是日本知名视觉小说工作室，1998年7月21日作为发行商Visual Arts旗下品牌成立，总部位于大阪市北区。工作室主打剧情向作品，擅长创作情感饱满、情节跌宕的戏剧类内容，旗下多款作品深受全球ACG爱好者喜爱。
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。
KEY vs RBLX — 直观对比
营收规模更大
KEY
是对方的1.4倍
$1.4B
营收增速更快
KEY
高出88.6%
43.2%
净利率更高
KEY
高出47.8%
-22.3%
自由现金流更多
KEY
多$1.8B
$308.6M
两年增速更快
RBLX
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.4B |
| 净利润 | $510.0M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 32.3% | -25.3% |
| 净利率 | 25.4% | -22.3% |
| 营收同比 | 131.8% | 43.2% |
| 净利润同比 | 309.0% | -43.9% |
| 每股收益（稀释后） | $0.43 | $-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KEYRBLX
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.8B | $1.0B | ||
| Q4 24 | $865.0M | $988.2M | ||
| Q3 24 | $695.0M | $919.0M | ||
| Q2 24 | $1.5B | $893.5M | ||
| Q1 24 | $1.5B | $801.3M |
净利润KEYRBLX
| Q4 25 | $510.0M | $-316.0M | ||
| Q3 25 | $489.0M | $-255.6M | ||
| Q2 25 | $425.0M | $-278.4M | ||
| Q1 25 | $405.0M | $-215.1M | ||
| Q4 24 | $-244.0M | $-219.6M | ||
| Q3 24 | $-410.0M | $-239.3M | ||
| Q2 24 | $274.0M | $-205.9M | ||
| Q1 24 | $219.0M | $-270.6M |
毛利率KEYRBLX
| Q4 25 | — | 77.7% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.9% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.7% |
营业利润率KEYRBLX
| Q4 25 | 32.3% | -25.3% | ||
| Q3 25 | 31.8% | -21.8% | ||
| Q2 25 | 29.3% | -29.8% | ||
| Q1 25 | 29.0% | -24.6% | ||
| Q4 24 | -92.6% | -24.7% | ||
| Q3 24 | -72.8% | -30.4% | ||
| Q2 24 | 22.0% | -26.6% | ||
| Q1 24 | 18.1% | -37.7% |
净利率KEYRBLX
| Q4 25 | 25.4% | -22.3% | ||
| Q3 25 | 25.8% | -18.8% | ||
| Q2 25 | 23.1% | -25.8% | ||
| Q1 25 | 22.8% | -20.8% | ||
| Q4 24 | -54.7% | -22.2% | ||
| Q3 24 | -59.0% | -26.0% | ||
| Q2 24 | 18.0% | -23.0% | ||
| Q1 24 | 14.3% | -33.8% |
每股收益（稀释后）KEYRBLX
| Q4 25 | $0.43 | $-0.44 | ||
| Q3 25 | $0.41 | $-0.37 | ||
| Q2 25 | $0.35 | $-0.41 | ||
| Q1 25 | $0.33 | $-0.32 | ||
| Q4 24 | $-0.30 | $-0.32 | ||
| Q3 24 | $-0.47 | $-0.37 | ||
| Q2 24 | $0.25 | $-0.32 | ||
| Q1 24 | $0.20 | $-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 | $10.2B | $3.1B |
| 总债务越低越好 | $9.9B | $1.2B |
| 股东权益账面价值 | $20.4B | $394.5M |
| 总资产 | $184.4B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.49× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资KEYRBLX
| Q4 25 | $10.2B | $3.1B | ||
| Q3 25 | $13.3B | $2.9B | ||
| Q2 25 | $11.6B | $2.6B | ||
| Q1 25 | $15.3B | $2.7B | ||
| Q4 24 | $17.5B | $2.4B | ||
| Q3 24 | $22.8B | $2.3B | ||
| Q2 24 | $15.5B | $2.4B | ||
| Q1 24 | $13.2B | $2.4B |
总债务KEYRBLX
| Q4 25 | $9.9B | $1.2B | ||
| Q3 25 | $10.9B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $12.1B | $1.2B | ||
| Q3 24 | $15.7B | — | ||
| Q2 24 | $16.9B | — | ||
| Q1 24 | $20.8B | — |
股东权益KEYRBLX
| Q4 25 | $20.4B | $394.5M | ||
| Q3 25 | $20.1B | $407.6M | ||
| Q2 25 | $19.5B | $353.2M | ||
| Q1 25 | $19.0B | $310.7M | ||
| Q4 24 | $18.2B | $221.4M | ||
| Q3 24 | $16.9B | $189.9M | ||
| Q2 24 | $14.8B | $121.5M | ||
| Q1 24 | $14.5B | $71.6M |
总资产KEYRBLX
| Q4 25 | $184.4B | $9.6B | ||
| Q3 25 | $187.4B | $8.6B | ||
| Q2 25 | $185.5B | $7.8B | ||
| Q1 25 | $188.7B | $7.5B | ||
| Q4 24 | $187.2B | $7.2B | ||
| Q3 24 | $189.8B | $6.7B | ||
| Q2 24 | $187.4B | $6.5B | ||
| Q1 24 | $187.5B | $6.3B |
负债/权益比KEYRBLX
| Q4 25 | 0.49× | 2.98× | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.67× | 5.48× | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 1.43× | — |
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 | $2.2B | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $2.1B | $308.6M |
| 自由现金流率自由现金流/营收 | 104.8% | 21.8% |
| 资本支出强度资本支出/营收 | 5.3% | 21.1% |
| 现金转化率经营现金流/净利润 | 4.33× | — |
| 过去12个月自由现金流最近4个季度 | $3.5B | $1.4B |
8季度趋势，按日历期对齐
经营现金流KEYRBLX
| Q4 25 | $2.2B | $607.0M | ||
| Q3 25 | $396.0M | $546.2M | ||
| Q2 25 | $1.2B | $199.3M | ||
| Q1 25 | $-140.0M | $443.9M | ||
| Q4 24 | $664.0M | $184.5M | ||
| Q3 24 | $-1.2B | $247.4M | ||
| Q2 24 | $-217.0M | $151.4M | ||
| Q1 24 | $359.0M | $238.9M |
自由现金流KEYRBLX
| Q4 25 | $2.1B | $308.6M | ||
| Q3 25 | $367.0M | $443.6M | ||
| Q2 25 | $1.2B | $176.7M | ||
| Q1 25 | $-150.0M | $426.5M | ||
| Q4 24 | $599.0M | $120.6M | ||
| Q3 24 | $-1.2B | $218.0M | ||
| Q2 24 | $-230.0M | $111.7M | ||
| Q1 24 | $347.0M | $192.3M |
自由现金流率KEYRBLX
| Q4 25 | 104.8% | 21.8% | ||
| Q3 25 | 19.4% | 32.6% | ||
| Q2 25 | 65.8% | 16.3% | ||
| Q1 25 | -8.5% | 41.2% | ||
| Q4 24 | 69.2% | 12.2% | ||
| Q3 24 | -175.8% | 23.7% | ||
| Q2 24 | -15.1% | 12.5% | ||
| Q1 24 | 22.6% | 24.0% |
资本支出强度KEYRBLX
| Q4 25 | 5.3% | 21.1% | ||
| Q3 25 | 1.5% | 7.5% | ||
| Q2 25 | 1.3% | 2.1% | ||
| Q1 25 | 0.6% | 1.7% | ||
| Q4 24 | 7.5% | 6.5% | ||
| Q3 24 | 2.4% | 3.2% | ||
| Q2 24 | 0.9% | 4.4% | ||
| Q1 24 | 0.8% | 5.8% |
现金转化率KEYRBLX
| Q4 25 | 4.33× | — | ||
| Q3 25 | 0.81× | — | ||
| Q2 25 | 2.90× | — | ||
| Q1 25 | -0.35× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.79× | — | ||
| Q1 24 | 1.64× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
