vs
MAGNITE, INC.（MGNI）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
MAGNITE, INC.的季度营收约是Rocket Lab Corp的1.1倍（$205.4M vs $179.7M），MAGNITE, INC.净利率更高（59.9% vs -29.5%，领先89.4%），Rocket Lab Corp同比增速更快（35.7% vs 5.9%），MAGNITE, INC.自由现金流更多（$103.1M vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 17.3%）
Magnite是总部位于美国加利福尼亚州洛杉矶的在线广告技术企业，由Rubicon Project与Telaria于2020年合并成立，专注于广告技术领域的相关业务，为行业提供数字化广告技术解决方案。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
MGNI vs RKLB — 直观对比
营收规模更大
MGNI
是对方的1.1倍
$179.7M
营收增速更快
RKLB
高出29.8%
5.9%
净利率更高
MGNI
高出89.4%
-29.5%
自由现金流更多
MGNI
多$217.2M
$-114.2M
两年增速更快
RKLB
近两年复合增速
17.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $205.4M | $179.7M |
| 净利润 | $123.0M | $-52.9M |
| 毛利率 | 66.2% | 38.0% |
| 营业利润率 | 25.3% | -28.4% |
| 净利率 | 59.9% | -29.5% |
| 营收同比 | 5.9% | 35.7% |
| 净利润同比 | 238.0% | -1.1% |
| 每股收益（稀释后） | $0.81 | $-0.09 |
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MGNIRKLB
| Q4 25 | $205.4M | $179.7M | ||
| Q3 25 | $179.5M | $155.1M | ||
| Q2 25 | $173.3M | $144.5M | ||
| Q1 25 | $155.8M | $122.6M | ||
| Q4 24 | $194.0M | $132.4M | ||
| Q3 24 | $162.0M | $104.8M | ||
| Q2 24 | $162.9M | $106.3M | ||
| Q1 24 | $149.3M | $92.8M |
净利润MGNIRKLB
| Q4 25 | $123.0M | $-52.9M | ||
| Q3 25 | $20.1M | $-18.3M | ||
| Q2 25 | $11.1M | $-66.4M | ||
| Q1 25 | $-9.6M | $-60.6M | ||
| Q4 24 | $36.4M | $-52.3M | ||
| Q3 24 | $5.2M | $-51.9M | ||
| Q2 24 | $-1.1M | $-41.6M | ||
| Q1 24 | $-17.8M | $-44.3M |
毛利率MGNIRKLB
| Q4 25 | 66.2% | 38.0% | ||
| Q3 25 | 61.4% | 37.0% | ||
| Q2 25 | 62.5% | 32.1% | ||
| Q1 25 | 59.7% | 28.8% | ||
| Q4 24 | 65.1% | 27.8% | ||
| Q3 24 | 61.4% | 26.7% | ||
| Q2 24 | 61.6% | 25.6% | ||
| Q1 24 | 55.9% | 26.1% |
营业利润率MGNIRKLB
| Q4 25 | 25.3% | -28.4% | ||
| Q3 25 | 14.0% | -38.0% | ||
| Q2 25 | 12.7% | -41.3% | ||
| Q1 25 | -0.9% | -48.3% | ||
| Q4 24 | 20.7% | -38.9% | ||
| Q3 24 | 9.3% | -49.5% | ||
| Q2 24 | 5.9% | -40.7% | ||
| Q1 24 | -9.3% | -46.4% |
净利率MGNIRKLB
| Q4 25 | 59.9% | -29.5% | ||
| Q3 25 | 11.2% | -11.8% | ||
| Q2 25 | 6.4% | -46.0% | ||
| Q1 25 | -6.2% | -49.5% | ||
| Q4 24 | 18.8% | -39.5% | ||
| Q3 24 | 3.2% | -49.6% | ||
| Q2 24 | -0.7% | -39.2% | ||
| Q1 24 | -11.9% | -47.7% |
每股收益（稀释后）MGNIRKLB
| Q4 25 | $0.81 | $-0.09 | ||
| Q3 25 | $0.13 | $-0.03 | ||
| Q2 25 | $0.08 | $-0.13 | ||
| Q1 25 | $-0.07 | $-0.12 | ||
| Q4 24 | $0.26 | $-0.11 | ||
| Q3 24 | $0.04 | $-0.10 | ||
| Q2 24 | $-0.01 | $-0.08 | ||
| Q1 24 | $-0.13 | $-0.09 |
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 | $553.4M | $1.0B |
| 总债务越低越好 | $556.1M | $152.4M |
| 股东权益账面价值 | $922.4M | $1.7B |
| 总资产 | $3.2B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.60× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资MGNIRKLB
| Q4 25 | $553.4M | $1.0B | ||
| Q3 25 | $482.1M | $976.7M | ||
| Q2 25 | $426.0M | $688.1M | ||
| Q1 25 | $429.7M | $428.4M | ||
| Q4 24 | $483.2M | $419.0M | ||
| Q3 24 | $387.2M | $442.4M | ||
| Q2 24 | $326.5M | $496.8M | ||
| Q1 24 | $252.8M | $492.5M |
总债务MGNIRKLB
| Q4 25 | $556.1M | $152.4M | ||
| Q3 25 | $556.3M | $347.0M | ||
| Q2 25 | $556.4M | $346.5M | ||
| Q1 25 | $556.6M | $345.9M | ||
| Q4 24 | $553.7M | $345.4M | ||
| Q3 24 | $553.8M | $61.2M | ||
| Q2 24 | $552.7M | $64.2M | ||
| Q1 24 | $552.7M | $66.8M |
股东权益MGNIRKLB
| Q4 25 | $922.4M | $1.7B | ||
| Q3 25 | $808.0M | $1.3B | ||
| Q2 25 | $768.5M | $688.5M | ||
| Q1 25 | $741.8M | $431.3M | ||
| Q4 24 | $768.2M | $382.5M | ||
| Q3 24 | $725.9M | $419.8M | ||
| Q2 24 | $713.0M | $455.2M | ||
| Q1 24 | $695.4M | $478.9M |
总资产MGNIRKLB
| Q4 25 | $3.2B | $2.3B | ||
| Q3 25 | $2.9B | $2.2B | ||
| Q2 25 | $2.9B | $1.6B | ||
| Q1 25 | $2.7B | $1.3B | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.6B | $1.2B | ||
| Q1 24 | $2.5B | $1.2B |
负债/权益比MGNIRKLB
| Q4 25 | 0.60× | 0.09× | ||
| Q3 25 | 0.69× | 0.27× | ||
| Q2 25 | 0.72× | 0.50× | ||
| Q1 25 | 0.75× | 0.80× | ||
| Q4 24 | 0.72× | 0.90× | ||
| Q3 24 | 0.76× | 0.15× | ||
| Q2 24 | 0.78× | 0.14× | ||
| Q1 24 | 0.79× | 0.14× |
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 | $128.5M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $103.1M | $-114.2M |
| 自由现金流率自由现金流/营收 | 50.2% | -63.6% |
| 资本支出强度资本支出/营收 | 12.4% | 27.6% |
| 现金转化率经营现金流/净利润 | 1.04× | — |
| 过去12个月自由现金流最近4个季度 | $165.6M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流MGNIRKLB
| Q4 25 | $128.5M | $-64.5M | ||
| Q3 25 | $86.6M | $-23.5M | ||
| Q2 25 | $18.5M | $-23.2M | ||
| Q1 25 | $2.6M | $-54.2M | ||
| Q4 24 | $114.7M | $-2.4M | ||
| Q3 24 | $91.3M | $-30.9M | ||
| Q2 24 | $89.6M | $-13.0M | ||
| Q1 24 | $-60.4M | $-2.6M |
自由现金流MGNIRKLB
| Q4 25 | $103.1M | $-114.2M | ||
| Q3 25 | $68.4M | $-69.4M | ||
| Q2 25 | $6.0M | $-55.3M | ||
| Q1 25 | $-11.8M | $-82.9M | ||
| Q4 24 | $111.0M | $-23.9M | ||
| Q3 24 | $77.3M | $-41.9M | ||
| Q2 24 | $80.4M | $-28.3M | ||
| Q1 24 | $-66.3M | $-21.8M |
自由现金流率MGNIRKLB
| Q4 25 | 50.2% | -63.6% | ||
| Q3 25 | 38.1% | -44.8% | ||
| Q2 25 | 3.5% | -38.3% | ||
| Q1 25 | -7.6% | -67.6% | ||
| Q4 24 | 57.2% | -18.1% | ||
| Q3 24 | 47.7% | -40.0% | ||
| Q2 24 | 49.4% | -26.7% | ||
| Q1 24 | -44.4% | -23.5% |
资本支出强度MGNIRKLB
| Q4 25 | 12.4% | 27.6% | ||
| Q3 25 | 10.2% | 29.6% | ||
| Q2 25 | 7.2% | 22.2% | ||
| Q1 25 | 9.2% | 23.4% | ||
| Q4 24 | 1.9% | 16.3% | ||
| Q3 24 | 8.7% | 10.5% | ||
| Q2 24 | 5.6% | 14.4% | ||
| Q1 24 | 3.9% | 20.7% |
现金转化率MGNIRKLB
| Q4 25 | 1.04× | — | ||
| Q3 25 | 4.32× | — | ||
| Q2 25 | 1.66× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.15× | — | ||
| Q3 24 | 17.52× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
MGNI
| Connected Television | $103.4M | 50% |
| Other | $55.7M | 27% |
| Desktop | $28.9M | 14% |
| Gross Revenue | $17.4M | 8% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
