vs
拉扎德（LAZ）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
罗布乐思的季度营收约是拉扎德的1.5倍（$1.4B vs $929.4M），拉扎德净利率更高（5.4% vs -22.3%，领先27.7%），罗布乐思同比增速更快（43.2% vs 10.8%），拉扎德自由现金流更多（$396.1M vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 8.8%）
拉扎德公司是一家美国金融咨询与资产管理机构，业务覆盖投资银行、资产管理及其他金融服务，核心客户以机构客户为主。作为全球规模最大的独立投资银行，其主要行政办公室分布于纽约、巴黎及伦敦三地。
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。
LAZ vs RBLX — 直观对比
营收规模更大
RBLX
是对方的1.5倍
$929.4M
营收增速更快
RBLX
高出32.4%
10.8%
净利率更高
LAZ
高出27.7%
-22.3%
自由现金流更多
LAZ
多$87.5M
$308.6M
两年增速更快
RBLX
近两年复合增速
8.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.4M | $1.4B |
| 净利润 | $49.9M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 9.1% | -25.3% |
| 净利率 | 5.4% | -22.3% |
| 营收同比 | 10.8% | 43.2% |
| 净利润同比 | -42.2% | -43.9% |
| 每股收益（稀释后） | $0.44 | $-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LAZRBLX
| Q4 25 | $929.4M | $1.4B | ||
| Q3 25 | $770.8M | $1.4B | ||
| Q2 25 | $817.2M | $1.1B | ||
| Q1 25 | $669.2M | $1.0B | ||
| Q4 24 | $839.0M | $988.2M | ||
| Q3 24 | $807.4M | $919.0M | ||
| Q2 24 | $708.0M | $893.5M | ||
| Q1 24 | $785.5M | $801.3M |
净利润LAZRBLX
| Q4 25 | $49.9M | $-316.0M | ||
| Q3 25 | $71.2M | $-255.6M | ||
| Q2 25 | $55.3M | $-278.4M | ||
| Q1 25 | $60.4M | $-215.1M | ||
| Q4 24 | $86.3M | $-219.6M | ||
| Q3 24 | $107.9M | $-239.3M | ||
| Q2 24 | $49.9M | $-205.9M | ||
| Q1 24 | $35.8M | $-270.6M |
毛利率LAZRBLX
| 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LAZRBLX
| Q4 25 | 9.1% | -25.3% | ||
| Q3 25 | 12.3% | -21.8% | ||
| Q2 25 | 11.4% | -29.8% | ||
| Q1 25 | 8.2% | -24.6% | ||
| Q4 24 | 12.8% | -24.7% | ||
| Q3 24 | 20.0% | -30.4% | ||
| Q2 24 | 9.0% | -26.6% | ||
| Q1 24 | 6.9% | -37.7% |
净利率LAZRBLX
| Q4 25 | 5.4% | -22.3% | ||
| Q3 25 | 9.2% | -18.8% | ||
| Q2 25 | 6.8% | -25.8% | ||
| Q1 25 | 9.0% | -20.8% | ||
| Q4 24 | 10.3% | -22.2% | ||
| Q3 24 | 13.4% | -26.0% | ||
| Q2 24 | 7.0% | -23.0% | ||
| Q1 24 | 4.6% | -33.8% |
每股收益（稀释后）LAZRBLX
| Q4 25 | $0.44 | $-0.44 | ||
| Q3 25 | $0.65 | $-0.37 | ||
| Q2 25 | $0.52 | $-0.41 | ||
| Q1 25 | $0.56 | $-0.32 | ||
| Q4 24 | $0.82 | $-0.32 | ||
| Q3 24 | $1.02 | $-0.37 | ||
| Q2 24 | $0.49 | $-0.32 | ||
| Q1 24 | $0.35 | $-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 | $1.7B | $1.2B |
| 股东权益账面价值 | $873.7M | $394.5M |
| 总资产 | $4.9B | $9.6B |
| 负债/权益比越低杠杆越低 | 1.93× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资LAZRBLX
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $978.3M | $2.6B | ||
| Q1 25 | $908.6M | $2.7B | ||
| Q4 24 | $1.3B | $2.4B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $847.6M | $2.4B | ||
| Q1 24 | $923.2M | $2.4B |
总债务LAZRBLX
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | $1.2B | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — | ||
| Q1 24 | $1.9B | — |
股东权益LAZRBLX
| Q4 25 | $873.7M | $394.5M | ||
| Q3 25 | $841.5M | $407.6M | ||
| Q2 25 | $741.6M | $353.2M | ||
| Q1 25 | $603.0M | $310.7M | ||
| Q4 24 | $636.2M | $221.4M | ||
| Q3 24 | $624.3M | $189.9M | ||
| Q2 24 | $458.7M | $121.5M | ||
| Q1 24 | $392.7M | $71.6M |
总资产LAZRBLX
| Q4 25 | $4.9B | $9.6B | ||
| Q3 25 | $4.6B | $8.6B | ||
| Q2 25 | $4.5B | $7.8B | ||
| Q1 25 | $4.2B | $7.5B | ||
| Q4 24 | $4.8B | $7.2B | ||
| Q3 24 | $4.8B | $6.7B | ||
| Q2 24 | $4.5B | $6.5B | ||
| Q1 24 | $4.6B | $6.3B |
负债/权益比LAZRBLX
| Q4 25 | 1.93× | 2.98× | ||
| Q3 25 | 2.01× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 2.80× | — | ||
| Q4 24 | 2.65× | 5.48× | ||
| Q3 24 | 2.97× | — | ||
| Q2 24 | 4.04× | — | ||
| Q1 24 | 4.71× | — |
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 | $399.7M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $396.1M | $308.6M |
| 自由现金流率自由现金流/营收 | 42.6% | 21.8% |
| 资本支出强度资本支出/营收 | 0.4% | 21.1% |
| 现金转化率经营现金流/净利润 | 8.02× | — |
| 过去12个月自由现金流最近4个季度 | $487.4M | $1.4B |
8季度趋势，按日历期对齐
经营现金流LAZRBLX
| Q4 25 | $399.7M | $607.0M | ||
| Q3 25 | $287.5M | $546.2M | ||
| Q2 25 | $49.7M | $199.3M | ||
| Q1 25 | $-217.5M | $443.9M | ||
| Q4 24 | $362.9M | $184.5M | ||
| Q3 24 | $293.7M | $247.4M | ||
| Q2 24 | $176.2M | $151.4M | ||
| Q1 24 | $-90.0M | $238.9M |
自由现金流LAZRBLX
| Q4 25 | $396.1M | $308.6M | ||
| Q3 25 | $284.6M | $443.6M | ||
| Q2 25 | $38.0M | $176.7M | ||
| Q1 25 | $-231.3M | $426.5M | ||
| Q4 24 | $348.0M | $120.6M | ||
| Q3 24 | $276.2M | $218.0M | ||
| Q2 24 | $169.8M | $111.7M | ||
| Q1 24 | $-96.6M | $192.3M |
自由现金流率LAZRBLX
| Q4 25 | 42.6% | 21.8% | ||
| Q3 25 | 36.9% | 32.6% | ||
| Q2 25 | 4.6% | 16.3% | ||
| Q1 25 | -34.6% | 41.2% | ||
| Q4 24 | 41.5% | 12.2% | ||
| Q3 24 | 34.2% | 23.7% | ||
| Q2 24 | 24.0% | 12.5% | ||
| Q1 24 | -12.3% | 24.0% |
资本支出强度LAZRBLX
| Q4 25 | 0.4% | 21.1% | ||
| Q3 25 | 0.4% | 7.5% | ||
| Q2 25 | 1.4% | 2.1% | ||
| Q1 25 | 2.1% | 1.7% | ||
| Q4 24 | 1.8% | 6.5% | ||
| Q3 24 | 2.2% | 3.2% | ||
| Q2 24 | 0.9% | 4.4% | ||
| Q1 24 | 0.8% | 5.8% |
现金转化率LAZRBLX
| Q4 25 | 8.02× | — | ||
| Q3 25 | 4.03× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | -3.60× | — | ||
| Q4 24 | 4.20× | — | ||
| Q3 24 | 2.72× | — | ||
| Q2 24 | 3.53× | — | ||
| Q1 24 | -2.52× | — |
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
LAZ
| Financial Advisory Segment | $542.3M | 58% |
| Asset Management1 | $347.8M | 37% |
| Incentive Fees | $40.9M | 4% |
RBLX
暂无分部数据
