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KeyCorp（KEY）与微博公司（WB）财务数据对比。点击上方公司名可切换其他公司
KeyCorp的季度营收约是微博公司的1.6倍（$2.0B vs $1.3B），微博公司净利率更高（35.7% vs 25.4%，领先10.3%），过去两年微博公司的营收复合增速更高（22.6% 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。
微博公司是中国知名的社交网络企业，旗下运营的新浪微博是国内极具影响力的微博客平台，公司总部位于中国北京，为数以亿计的用户提供社交互动、资讯传播、内容创作等多元互联网服务。
KEY vs WB — 直观对比
营收规模更大
KEY
是对方的1.6倍
$1.3B
净利率更高
WB
高出10.3%
25.4%
两年增速更快
WB
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.3B |
| 净利润 | $510.0M | $458.3M |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 29.1% |
| 净利率 | 25.4% | 35.7% |
| 营收同比 | 131.8% | — |
| 净利润同比 | 309.0% | — |
| 每股收益（稀释后） | $0.43 | — |
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KEYWB
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.8B | $841.7M | ||
| Q1 25 | $1.8B | $396.9M | ||
| Q4 24 | $865.0M | — | ||
| Q3 24 | $695.0M | $1.3B | ||
| Q2 24 | $1.5B | $833.4M | ||
| Q1 24 | $1.5B | $395.5M |
净利润KEYWB
| Q4 25 | $510.0M | — | ||
| Q3 25 | $489.0M | $458.3M | ||
| Q2 25 | $425.0M | $234.8M | ||
| Q1 25 | $405.0M | $108.1M | ||
| Q4 24 | $-244.0M | — | ||
| Q3 24 | $-410.0M | $297.4M | ||
| Q2 24 | $274.0M | $164.6M | ||
| Q1 24 | $219.0M | $51.1M |
营业利润率KEYWB
| Q4 25 | 32.3% | — | ||
| Q3 25 | 31.8% | 29.1% | ||
| Q2 25 | 29.3% | 30.4% | ||
| Q1 25 | 29.0% | 27.8% | ||
| Q4 24 | -92.6% | — | ||
| Q3 24 | -72.8% | 29.0% | ||
| Q2 24 | 22.0% | 28.2% | ||
| Q1 24 | 18.1% | 25.2% |
净利率KEYWB
| Q4 25 | 25.4% | — | ||
| Q3 25 | 25.8% | 35.7% | ||
| Q2 25 | 23.1% | 27.9% | ||
| Q1 25 | 22.8% | 27.2% | ||
| Q4 24 | -54.7% | — | ||
| Q3 24 | -59.0% | 22.9% | ||
| Q2 24 | 18.0% | 19.8% | ||
| Q1 24 | 14.3% | 12.9% |
每股收益（稀释后）KEYWB
| Q4 25 | $0.43 | — | ||
| Q3 25 | $0.41 | — | ||
| Q2 25 | $0.35 | — | ||
| Q1 25 | $0.33 | — | ||
| Q4 24 | $-0.30 | — | ||
| Q3 24 | $-0.47 | — | ||
| Q2 24 | $0.25 | — | ||
| Q1 24 | $0.20 | — |
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 | $1.1B |
| 总债务越低越好 | $9.9B | — |
| 股东权益账面价值 | $20.4B | $3.9B |
| 总资产 | $184.4B | $6.9B |
| 负债/权益比越低杠杆越低 | 0.49× | — |
8季度趋势，按日历期对齐
现金及短期投资KEYWB
| Q4 25 | $10.2B | — | ||
| Q3 25 | $13.3B | $1.1B | ||
| Q2 25 | $11.6B | $1.2B | ||
| Q1 25 | $15.3B | $1.2B | ||
| Q4 24 | $17.5B | — | ||
| Q3 24 | $22.8B | — | ||
| Q2 24 | $15.5B | $1.9B | ||
| Q1 24 | $13.2B | $2.1B |
总债务KEYWB
| Q4 25 | $9.9B | — | ||
| Q3 25 | $10.9B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $12.1B | — | ||
| Q3 24 | $15.7B | — | ||
| Q2 24 | $16.9B | — | ||
| Q1 24 | $20.8B | — |
股东权益KEYWB
| Q4 25 | $20.4B | — | ||
| Q3 25 | $20.1B | $3.9B | ||
| Q2 25 | $19.5B | $3.6B | ||
| Q1 25 | $19.0B | $3.5B | ||
| Q4 24 | $18.2B | — | ||
| Q3 24 | $16.9B | — | ||
| Q2 24 | $14.8B | $3.4B | ||
| Q1 24 | $14.5B | $3.3B |
总资产KEYWB
| Q4 25 | $184.4B | — | ||
| Q3 25 | $187.4B | $6.9B | ||
| Q2 25 | $185.5B | $6.5B | ||
| Q1 25 | $188.7B | $6.7B | ||
| Q4 24 | $187.2B | — | ||
| Q3 24 | $189.8B | — | ||
| Q2 24 | $187.4B | $7.1B | ||
| Q1 24 | $187.5B | $7.3B |
负债/权益比KEYWB
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.67× | — | ||
| 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 | — |
| 自由现金流经营现金流 - 资本支出 | $2.1B | — |
| 自由现金流率自由现金流/营收 | 104.8% | — |
| 资本支出强度资本支出/营收 | 5.3% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流KEYWB
| Q4 25 | $2.2B | — | ||
| Q3 25 | $396.0M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $-140.0M | — | ||
| Q4 24 | $664.0M | — | ||
| Q3 24 | $-1.2B | — | ||
| Q2 24 | $-217.0M | — | ||
| Q1 24 | $359.0M | — |
自由现金流KEYWB
| Q4 25 | $2.1B | — | ||
| Q3 25 | $367.0M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $-150.0M | — | ||
| Q4 24 | $599.0M | — | ||
| Q3 24 | $-1.2B | — | ||
| Q2 24 | $-230.0M | — | ||
| Q1 24 | $347.0M | — |
自由现金流率KEYWB
| Q4 25 | 104.8% | — | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 65.8% | — | ||
| Q1 25 | -8.5% | — | ||
| Q4 24 | 69.2% | — | ||
| Q3 24 | -175.8% | — | ||
| Q2 24 | -15.1% | — | ||
| Q1 24 | 22.6% | — |
资本支出强度KEYWB
| Q4 25 | 5.3% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 7.5% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 0.8% | — |
现金转化率KEYWB
| 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
业务分部营收拆解
KEY
暂无分部数据
WB
| Income from operations | $373.2M | 29% |
| Shares used in computing diluted net income per share attributable to Weibos shareholders | $268.1M | 21% |
| Shares used in computing basic net income per share attributable to Weibos shareholders | $238.6M | 19% |
| Value-added services | $186.1M | 14% |
| Less: Income tax expenses | $113.2M | 9% |
| Investment related income, net | $45.0M | 4% |
| Product development | $16.7M | 1% |
| General and administrative | $10.6M | 1% |
| Sales and marketing | $7.1M | 1% |
| Accretion to redeemable non-controlling interests | $3.0M | 0% |
