vs
Meta Platforms（META）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
Meta Platforms的季度营收约是罗布乐思的42.3倍（$59.9B vs $1.4B），Meta Platforms净利率更高（38.0% vs -22.3%，领先60.3%），罗布乐思同比增速更快（43.2% vs 23.8%），Meta Platforms自由现金流更多（$14.8B vs $308.6M），过去两年罗布乐思的营收复合增速更高（32.9% vs 28.2%）
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
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。
META vs RBLX — 直观对比
营收规模更大
META
是对方的42.3倍
$1.4B
营收增速更快
RBLX
高出19.4%
23.8%
净利率更高
META
高出60.3%
-22.3%
自由现金流更多
META
多$14.5B
$308.6M
两年增速更快
RBLX
近两年复合增速
28.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $59.9B | $1.4B |
| 净利润 | $22.8B | $-316.0M |
| 毛利率 | 81.8% | 77.7% |
| 营业利润率 | 41.3% | -25.3% |
| 净利率 | 38.0% | -22.3% |
| 营收同比 | 23.8% | 43.2% |
| 净利润同比 | 9.3% | -43.9% |
| 每股收益（稀释后） | $8.87 | $-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METARBLX
| Q4 25 | $59.9B | $1.4B | ||
| Q3 25 | $51.2B | $1.4B | ||
| Q2 25 | $47.5B | $1.1B | ||
| Q1 25 | $42.3B | $1.0B | ||
| Q4 24 | $48.4B | $988.2M | ||
| Q3 24 | $40.6B | $919.0M | ||
| Q2 24 | $39.1B | $893.5M | ||
| Q1 24 | $36.5B | $801.3M |
净利润METARBLX
| Q4 25 | $22.8B | $-316.0M | ||
| Q3 25 | $2.7B | $-255.6M | ||
| Q2 25 | $18.3B | $-278.4M | ||
| Q1 25 | $16.6B | $-215.1M | ||
| Q4 24 | $20.8B | $-219.6M | ||
| Q3 24 | $15.7B | $-239.3M | ||
| Q2 24 | $13.5B | $-205.9M | ||
| Q1 24 | $12.4B | $-270.6M |
毛利率METARBLX
| Q4 25 | 81.8% | 77.7% | ||
| Q3 25 | 82.0% | 78.2% | ||
| Q2 25 | 82.1% | 78.2% | ||
| Q1 25 | 82.1% | 78.3% | ||
| Q4 24 | 81.7% | 77.9% | ||
| Q3 24 | 81.8% | 77.7% | ||
| Q2 24 | 81.3% | 77.8% | ||
| Q1 24 | 81.8% | 77.7% |
营业利润率METARBLX
| Q4 25 | 41.3% | -25.3% | ||
| Q3 25 | 40.1% | -21.8% | ||
| Q2 25 | 43.0% | -29.8% | ||
| Q1 25 | 41.5% | -24.6% | ||
| Q4 24 | 48.3% | -24.7% | ||
| Q3 24 | 42.7% | -30.4% | ||
| Q2 24 | 38.0% | -26.6% | ||
| Q1 24 | 37.9% | -37.7% |
净利率METARBLX
| Q4 25 | 38.0% | -22.3% | ||
| Q3 25 | 5.3% | -18.8% | ||
| Q2 25 | 38.6% | -25.8% | ||
| Q1 25 | 39.3% | -20.8% | ||
| Q4 24 | 43.1% | -22.2% | ||
| Q3 24 | 38.7% | -26.0% | ||
| Q2 24 | 34.5% | -23.0% | ||
| Q1 24 | 33.9% | -33.8% |
每股收益（稀释后）METARBLX
| Q4 25 | $8.87 | $-0.44 | ||
| Q3 25 | $1.05 | $-0.37 | ||
| Q2 25 | $7.14 | $-0.41 | ||
| Q1 25 | $6.43 | $-0.32 | ||
| Q4 24 | $7.96 | $-0.32 | ||
| Q3 24 | $6.03 | $-0.37 | ||
| Q2 24 | $5.16 | $-0.32 | ||
| Q1 24 | $4.71 | $-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 | $81.6B | $3.1B |
| 总债务越低越好 | $58.7B | $1.2B |
| 股东权益账面价值 | $217.2B | $394.5M |
| 总资产 | $366.0B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.27× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资METARBLX
| Q4 25 | $81.6B | $3.1B | ||
| Q3 25 | $44.4B | $2.9B | ||
| Q2 25 | $47.1B | $2.6B | ||
| Q1 25 | $70.2B | $2.7B | ||
| Q4 24 | $77.8B | $2.4B | ||
| Q3 24 | $70.9B | $2.3B | ||
| Q2 24 | $58.1B | $2.4B | ||
| Q1 24 | $58.1B | $2.4B |
总债务METARBLX
| Q4 25 | $58.7B | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $28.8B | $1.2B | ||
| Q3 24 | $28.8B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益METARBLX
| Q4 25 | $217.2B | $394.5M | ||
| Q3 25 | $194.1B | $407.6M | ||
| Q2 25 | $195.1B | $353.2M | ||
| Q1 25 | $185.0B | $310.7M | ||
| Q4 24 | $182.6B | $221.4M | ||
| Q3 24 | $164.5B | $189.9M | ||
| Q2 24 | $156.8B | $121.5M | ||
| Q1 24 | $149.5B | $71.6M |
总资产METARBLX
| Q4 25 | $366.0B | $9.6B | ||
| Q3 25 | $303.8B | $8.6B | ||
| Q2 25 | $294.7B | $7.8B | ||
| Q1 25 | $280.2B | $7.5B | ||
| Q4 24 | $276.1B | $7.2B | ||
| Q3 24 | $256.4B | $6.7B | ||
| Q2 24 | $230.2B | $6.5B | ||
| Q1 24 | $222.8B | $6.3B |
负债/权益比METARBLX
| Q4 25 | 0.27× | 2.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.16× | 5.48× | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $36.2B | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $14.8B | $308.6M |
| 自由现金流率自由现金流/营收 | 24.8% | 21.8% |
| 资本支出强度资本支出/营收 | 35.7% | 21.1% |
| 现金转化率经营现金流/净利润 | 1.59× | — |
| 过去12个月自由现金流最近4个季度 | $46.1B | $1.4B |
8季度趋势，按日历期对齐
经营现金流METARBLX
| Q4 25 | $36.2B | $607.0M | ||
| Q3 25 | $30.0B | $546.2M | ||
| Q2 25 | $25.6B | $199.3M | ||
| Q1 25 | $24.0B | $443.9M | ||
| Q4 24 | $28.0B | $184.5M | ||
| Q3 24 | $24.7B | $247.4M | ||
| Q2 24 | $19.4B | $151.4M | ||
| Q1 24 | $19.2B | $238.9M |
自由现金流METARBLX
| Q4 25 | $14.8B | $308.6M | ||
| Q3 25 | $11.2B | $443.6M | ||
| Q2 25 | $9.0B | $176.7M | ||
| Q1 25 | $11.1B | $426.5M | ||
| Q4 24 | $13.6B | $120.6M | ||
| Q3 24 | $16.5B | $218.0M | ||
| Q2 24 | $11.2B | $111.7M | ||
| Q1 24 | $12.8B | $192.3M |
自由现金流率METARBLX
| Q4 25 | 24.8% | 21.8% | ||
| Q3 25 | 21.8% | 32.6% | ||
| Q2 25 | 19.0% | 16.3% | ||
| Q1 25 | 26.2% | 41.2% | ||
| Q4 24 | 28.0% | 12.2% | ||
| Q3 24 | 40.6% | 23.7% | ||
| Q2 24 | 28.7% | 12.5% | ||
| Q1 24 | 35.2% | 24.0% |
资本支出强度METARBLX
| Q4 25 | 35.7% | 21.1% | ||
| Q3 25 | 36.7% | 7.5% | ||
| Q2 25 | 34.8% | 2.1% | ||
| Q1 25 | 30.6% | 1.7% | ||
| Q4 24 | 29.8% | 6.5% | ||
| Q3 24 | 20.3% | 3.2% | ||
| Q2 24 | 20.9% | 4.4% | ||
| Q1 24 | 17.6% | 5.8% |
现金转化率METARBLX
| Q4 25 | 1.59× | — | ||
| Q3 25 | 11.07× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.58× | — | ||
| Q2 24 | 1.44× | — | ||
| Q1 24 | 1.56× | — |
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
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
RBLX
暂无分部数据
