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李维斯（LEVI）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
李维斯的季度营收约是ROKU, INC的1.4倍（$1.8B vs $1.2B），李维斯净利率更高（8.9% vs -2.2%，领先11.1%），李维斯同比增速更快（-4.0% vs -18.3%），ROKU, INC自由现金流更多（$298.4M vs $215.7M），过去两年ROKU, INC的营收复合增速更高（13.6% vs 6.5%）
李维斯（Levi Strauss & Co.）是全球知名的美国服饰企业，凭借旗下Levi's品牌丹宁牛仔裤享誉全球。公司创立于1853年5月，由德裔犹太移民李维·斯特劳斯在旧金山成立，注册地为特拉华州，总部设在旧金山李维斯广场。
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。
LEVI vs ROKU — 直观对比
营收规模更大
LEVI
是对方的1.4倍
$1.2B
营收增速更快
LEVI
高出14.3%
-18.3%
净利率更高
LEVI
高出11.1%
-2.2%
自由现金流更多
ROKU
多$82.7M
$215.7M
两年增速更快
ROKU
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $158.0M | $-27.4M |
| 毛利率 | 60.8% | 35.6% |
| 营业利润率 | 11.9% | 59.7% |
| 净利率 | 8.9% | -2.2% |
| 营收同比 | -4.0% | -18.3% |
| 净利润同比 | -13.4% | -361.0% |
| 每股收益（稀释后） | $0.39 | $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LEVIROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.8B | $1.2B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $968.2M |
净利润LEVIROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $158.0M | $80.5M | ||
| Q3 25 | $218.1M | $24.8M | ||
| Q2 25 | $67.0M | $10.5M | ||
| Q1 25 | $135.0M | $-27.4M | ||
| Q4 24 | $182.5M | $-35.5M | ||
| Q3 24 | $20.7M | $-9.0M | ||
| Q2 24 | $18.0M | $-34.0M |
毛利率LEVIROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 60.8% | 43.5% | ||
| Q3 25 | 61.7% | 43.4% | ||
| Q2 25 | 62.6% | 44.8% | ||
| Q1 25 | 62.1% | 43.6% | ||
| Q4 24 | 61.3% | 42.7% | ||
| Q3 24 | 60.0% | 45.2% | ||
| Q2 24 | 60.5% | 43.9% |
营业利润率LEVIROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 11.9% | 4.7% | ||
| Q3 25 | 10.8% | 0.8% | ||
| Q2 25 | 7.5% | -2.1% | ||
| Q1 25 | 12.5% | -5.7% | ||
| Q4 24 | 11.5% | -3.3% | ||
| Q3 24 | 2.0% | -3.4% | ||
| Q2 24 | 1.5% | -7.4% |
净利率LEVIROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 8.9% | 5.8% | ||
| Q3 25 | 14.1% | 2.0% | ||
| Q2 25 | 4.6% | 0.9% | ||
| Q1 25 | 8.8% | -2.7% | ||
| Q4 24 | 9.9% | -3.0% | ||
| Q3 24 | 1.4% | -0.9% | ||
| Q2 24 | 1.2% | -3.5% |
每股收益（稀释后）LEVIROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $0.39 | $0.55 | ||
| Q3 25 | $0.55 | $0.16 | ||
| Q2 25 | $0.17 | $0.07 | ||
| Q1 25 | $0.34 | $-0.19 | ||
| Q4 24 | $0.46 | $-0.24 | ||
| Q3 24 | $0.05 | $-0.06 | ||
| Q2 24 | $0.04 | $-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 | $848.8M | $2.4B |
| 总债务越低越好 | $1.1B | — |
| 股东权益账面价值 | $2.3B | $2.7B |
| 总资产 | $6.8B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.46× | — |
8季度趋势，按日历期对齐
现金及短期投资LEVIROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $848.8M | $2.3B | ||
| Q3 25 | $707.5M | $2.3B | ||
| Q2 25 | $736.7M | $2.3B | ||
| Q1 25 | $574.4M | $2.3B | ||
| Q4 24 | $690.0M | $2.2B | ||
| Q3 24 | $577.1M | $2.1B | ||
| Q2 24 | $641.4M | $2.1B |
总债务LEVIROKU
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $987.4M | — | ||
| Q4 24 | $994.0M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
股东权益LEVIROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.3B | $2.7B | ||
| Q3 25 | $2.2B | $2.6B | ||
| Q2 25 | $2.1B | $2.6B | ||
| Q1 25 | $2.0B | $2.5B | ||
| Q4 24 | $2.0B | $2.5B | ||
| Q3 24 | $1.9B | $2.5B | ||
| Q2 24 | $2.0B | $2.4B |
总资产LEVIROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $6.8B | $4.4B | ||
| Q3 25 | $6.7B | $4.4B | ||
| Q2 25 | $6.5B | $4.3B | ||
| Q1 25 | $6.2B | $4.2B | ||
| Q4 24 | $6.4B | $4.3B | ||
| Q3 24 | $6.3B | $4.3B | ||
| Q2 24 | $6.2B | $4.1B |
负债/权益比LEVIROKU
| Q1 26 | — | — | ||
| Q4 25 | 0.46× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.49× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.51× | — |
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 | $266.8M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $215.7M | $298.4M |
| 自由现金流率自由现金流/营收 | 12.2% | 23.9% |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 1.69× | — |
| 过去12个月自由现金流最近4个季度 | $308.2M | $640.0M |
8季度趋势，按日历期对齐
经营现金流LEVIROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $266.8M | $107.7M | ||
| Q3 25 | $24.8M | $127.6M | ||
| Q2 25 | $185.5M | $109.7M | ||
| Q1 25 | $52.5M | $138.7M | ||
| Q4 24 | $297.3M | $79.3M | ||
| Q3 24 | $52.3M | $68.7M | ||
| Q2 24 | $262.8M | $23.4M |
自由现金流LEVIROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $215.7M | $106.6M | ||
| Q3 25 | $-39.4M | $126.5M | ||
| Q2 25 | $146.0M | $108.6M | ||
| Q1 25 | $-14.1M | $136.8M | ||
| Q4 24 | $231.6M | $76.8M | ||
| Q3 24 | $2.3M | $67.6M | ||
| Q2 24 | $222.6M | $22.5M |
自由现金流率LEVIROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 12.2% | 7.6% | ||
| Q3 25 | -2.6% | 10.4% | ||
| Q2 25 | 10.1% | 9.8% | ||
| Q1 25 | -0.9% | 13.4% | ||
| Q4 24 | 12.6% | 6.4% | ||
| Q3 24 | 0.2% | 6.4% | ||
| Q2 24 | 15.4% | 2.3% |
资本支出强度LEVIROKU
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | 4.2% | 0.1% | ||
| Q2 25 | 2.7% | 0.1% | ||
| Q1 25 | 4.4% | 0.2% | ||
| Q4 24 | 3.6% | 0.2% | ||
| Q3 24 | 3.3% | 0.1% | ||
| Q2 24 | 2.8% | 0.1% |
现金转化率LEVIROKU
| Q1 26 | — | — | ||
| Q4 25 | 1.69× | 1.34× | ||
| Q3 25 | 0.11× | 5.14× | ||
| Q2 25 | 2.77× | 10.45× | ||
| Q1 25 | 0.39× | — | ||
| Q4 24 | 1.63× | — | ||
| Q3 24 | 2.53× | — | ||
| Q2 24 | 14.60× | — |
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
LEVI
| Other | $760.3M | 43% |
| Sales Channel Through Intermediary | $583.2M | 33% |
| Sales Channel Directly To Consumer | $376.0M | 21% |
| Beyond Yoga | $46.3M | 3% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
