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是德科技（KEYS）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
是德科技的季度营收约是ROKU, INC的1.1倍（$1.4B vs $1.2B），是德科技净利率更高（16.4% vs -2.2%，领先18.6%），是德科技同比增速更快（10.3% vs -18.3%），ROKU, INC自由现金流更多（$298.4M vs $187.0M），过去两年ROKU, INC的营收复合增速更高（13.6% vs 6.2%）
是德科技是一家美国企业，主营电子测试测量设备与软件的研发、生产业务。公司由安捷伦科技拆分而来，核心产品线继承自惠普测试测量部门上世纪60年代末至千禧年间开发的相关产品，后独立为现有品牌。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
KEYS vs ROKU — 直观对比
营收规模更大
KEYS
是对方的1.1倍
$1.2B
营收增速更快
KEYS
高出28.5%
-18.3%
净利率更高
KEYS
高出18.6%
-2.2%
自由现金流更多
ROKU
多$111.4M
$187.0M
两年增速更快
ROKU
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $233.0M | $-27.4M |
| 毛利率 | 61.2% | 35.6% |
| 营业利润率 | 15.3% | 59.7% |
| 净利率 | 16.4% | -2.2% |
| 营收同比 | 10.3% | -18.3% |
| 净利润同比 | 419.2% | -361.0% |
| 每股收益（稀释后） | $1.35 | $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KEYSROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $968.2M |
净利润KEYSROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $233.0M | $80.5M | ||
| Q3 25 | $191.0M | $24.8M | ||
| Q2 25 | $257.0M | $10.5M | ||
| Q1 25 | $169.0M | $-27.4M | ||
| Q4 24 | $-73.0M | $-35.5M | ||
| Q3 24 | $389.0M | $-9.0M | ||
| Q2 24 | $126.0M | $-34.0M |
毛利率KEYSROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 61.2% | 43.5% | ||
| Q3 25 | 61.7% | 43.4% | ||
| Q2 25 | 62.3% | 44.8% | ||
| Q1 25 | 63.2% | 43.6% | ||
| Q4 24 | 62.3% | 42.7% | ||
| Q3 24 | 62.0% | 45.2% | ||
| Q2 24 | 62.7% | 43.9% |
营业利润率KEYSROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 15.3% | 4.7% | ||
| Q3 25 | 17.3% | 0.8% | ||
| Q2 25 | 15.8% | -2.1% | ||
| Q1 25 | 16.8% | -5.7% | ||
| Q4 24 | 17.9% | -3.3% | ||
| Q3 24 | 16.8% | -3.4% | ||
| Q2 24 | 14.6% | -7.4% |
净利率KEYSROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 16.4% | 5.8% | ||
| Q3 25 | 14.1% | 2.0% | ||
| Q2 25 | 19.7% | 0.9% | ||
| Q1 25 | 13.0% | -2.7% | ||
| Q4 24 | -5.7% | -3.0% | ||
| Q3 24 | 32.0% | -0.9% | ||
| Q2 24 | 10.4% | -3.5% |
每股收益（稀释后）KEYSROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $1.35 | $0.55 | ||
| Q3 25 | $1.10 | $0.16 | ||
| Q2 25 | $1.49 | $0.07 | ||
| Q1 25 | $0.97 | $-0.19 | ||
| Q4 24 | $-0.41 | $-0.24 | ||
| Q3 24 | $2.22 | $-0.06 | ||
| Q2 24 | $0.72 | $-0.24 |
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 | $1.9B | $2.4B |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $5.9B | $2.7B |
| 总资产 | $11.3B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.43× | — |
8季度趋势，按日历期对齐
现金及短期投资KEYSROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.9B | $2.3B | ||
| Q3 25 | $2.6B | $2.3B | ||
| Q2 25 | $3.1B | $2.3B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $1.8B | $2.2B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.7B | $2.1B |
总债务KEYSROKU
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | — |
股东权益KEYSROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $5.9B | $2.7B | ||
| Q3 25 | $5.7B | $2.6B | ||
| Q2 25 | $5.5B | $2.6B | ||
| Q1 25 | $5.2B | $2.5B | ||
| Q4 24 | $5.1B | $2.5B | ||
| Q3 24 | $5.2B | $2.5B | ||
| Q2 24 | $4.9B | $2.4B |
总资产KEYSROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $11.3B | $4.4B | ||
| Q3 25 | $10.7B | $4.4B | ||
| Q2 25 | $10.5B | $4.3B | ||
| Q1 25 | $9.4B | $4.2B | ||
| Q4 24 | $9.3B | $4.3B | ||
| Q3 24 | $9.3B | $4.3B | ||
| Q2 24 | $9.0B | $4.1B |
负债/权益比KEYSROKU
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.37× | — |
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 | $225.0M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $187.0M | $298.4M |
| 自由现金流率自由现金流/营收 | 13.2% | 23.9% |
| 资本支出强度资本支出/营收 | 2.7% | — |
| 现金转化率经营现金流/净利润 | 0.97× | — |
| 过去12个月自由现金流最近4个季度 | $1.3B | $640.0M |
8季度趋势，按日历期对齐
经营现金流KEYSROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $225.0M | $107.7M | ||
| Q3 25 | $322.0M | $127.6M | ||
| Q2 25 | $484.0M | $109.7M | ||
| Q1 25 | $378.0M | $138.7M | ||
| Q4 24 | $359.0M | $79.3M | ||
| Q3 24 | $255.0M | $68.7M | ||
| Q2 24 | $110.0M | $23.4M |
自由现金流KEYSROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $187.0M | $106.6M | ||
| Q3 25 | $291.0M | $126.5M | ||
| Q2 25 | $457.0M | $108.6M | ||
| Q1 25 | $346.0M | $136.8M | ||
| Q4 24 | $321.0M | $76.8M | ||
| Q3 24 | $222.0M | $67.6M | ||
| Q2 24 | $74.0M | $22.5M |
自由现金流率KEYSROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 13.2% | 7.6% | ||
| Q3 25 | 21.5% | 10.4% | ||
| Q2 25 | 35.0% | 9.8% | ||
| Q1 25 | 26.7% | 13.4% | ||
| Q4 24 | 24.9% | 6.4% | ||
| Q3 24 | 18.2% | 6.4% | ||
| Q2 24 | 6.1% | 2.3% |
资本支出强度KEYSROKU
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | 0.1% | ||
| Q3 25 | 2.3% | 0.1% | ||
| Q2 25 | 2.1% | 0.1% | ||
| Q1 25 | 2.5% | 0.2% | ||
| Q4 24 | 3.0% | 0.2% | ||
| Q3 24 | 2.7% | 0.1% | ||
| Q2 24 | 3.0% | 0.1% |
现金转化率KEYSROKU
| Q1 26 | — | — | ||
| Q4 25 | 0.97× | 1.34× | ||
| Q3 25 | 1.69× | 5.14× | ||
| Q2 25 | 1.88× | 10.45× | ||
| Q1 25 | 2.24× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.87× | — |
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
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
