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莫德纳（MRNA）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
ROKU, INC的季度营收约是莫德纳的1.4倍（$1.4B vs $1.0B），ROKU, INC净利率更高（5.8% vs -19.7%，领先25.5%），ROKU, INC同比增速更快（16.1% vs -45.4%），ROKU, INC自由现金流更多（$106.6M vs $-880.0M），过去两年ROKU, INC的营收复合增速更高（25.8% vs -45.0%）
莫德纳是一家总部位于美国马萨诸塞州剑桥市的生物制药企业，深耕RNA治疗领域，核心业务聚焦mRNA疫苗研发。其疫苗通过信使RNA（mRNA）分子拷贝传递蛋白合成指令以触发人体免疫反应，公司名称由“修饰”“RNA”与“现代”三个词组合而来。
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。
MRNA vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.4倍
$1.0B
营收增速更快
ROKU
高出61.6%
-45.4%
净利率更高
ROKU
高出25.5%
-19.7%
自由现金流更多
ROKU
多$986.6M
$-880.0M
两年增速更快
ROKU
近两年复合增速
-45.0%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $-200.0M | $80.5M |
| 毛利率 | 79.6% | 43.5% |
| 营业利润率 | -25.6% | 4.7% |
| 净利率 | -19.7% | 5.8% |
| 营收同比 | -45.4% | 16.1% |
| 净利润同比 | -1638.5% | 326.4% |
| 每股收益（稀释后） | $-0.51 | $0.55 |
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MRNAROKU
| Q4 25 | — | $1.4B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $966.0M | $1.2B | ||
| Q3 24 | $1.9B | $1.1B | ||
| Q2 24 | — | $968.2M | ||
| Q1 24 | — | $881.5M |
净利润MRNAROKU
| Q4 25 | — | $80.5M | ||
| Q3 25 | $-200.0M | $24.8M | ||
| Q2 25 | — | $10.5M | ||
| Q1 25 | — | $-27.4M | ||
| Q4 24 | $-1.1B | $-35.5M | ||
| Q3 24 | $13.0M | $-9.0M | ||
| Q2 24 | — | $-34.0M | ||
| Q1 24 | — | $-50.9M |
毛利率MRNAROKU
| Q4 25 | — | 43.5% | ||
| Q3 25 | 79.6% | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | 23.5% | 42.7% | ||
| Q3 24 | 72.4% | 45.2% | ||
| Q2 24 | — | 43.9% | ||
| Q1 24 | — | 44.1% |
营业利润率MRNAROKU
| Q4 25 | — | 4.7% | ||
| Q3 25 | -25.6% | 0.8% | ||
| Q2 25 | — | -2.1% | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | -129.0% | -3.3% | ||
| Q3 24 | -3.8% | -3.4% | ||
| Q2 24 | — | -7.4% | ||
| Q1 24 | — | -8.2% |
净利率MRNAROKU
| Q4 25 | — | 5.8% | ||
| Q3 25 | -19.7% | 2.0% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | -115.9% | -3.0% | ||
| Q3 24 | 0.7% | -0.9% | ||
| Q2 24 | — | -3.5% | ||
| Q1 24 | — | -5.8% |
每股收益（稀释后）MRNAROKU
| Q4 25 | — | $0.55 | ||
| Q3 25 | $-0.51 | $0.16 | ||
| Q2 25 | — | $0.07 | ||
| Q1 25 | — | $-0.19 | ||
| Q4 24 | $-2.91 | $-0.24 | ||
| Q3 24 | $0.03 | $-0.06 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $-0.35 |
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 | $1.1B | $2.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.3B | $2.7B |
| 总资产 | $12.1B | $4.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MRNAROKU
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.1B | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | $1.9B | $2.2B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
股东权益MRNAROKU
| Q4 25 | — | $2.7B | ||
| Q3 25 | $9.3B | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $10.9B | $2.5B | ||
| Q3 24 | $11.9B | $2.5B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总资产MRNAROKU
| Q4 25 | — | $4.4B | ||
| Q3 25 | $12.1B | $4.4B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | $14.1B | $4.3B | ||
| Q3 24 | $15.8B | $4.3B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
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 | $-847.0M | $107.7M |
| 自由现金流经营现金流 - 资本支出 | $-880.0M | $106.6M |
| 自由现金流率自由现金流/营收 | -86.6% | 7.6% |
| 资本支出强度资本支出/营收 | 3.2% | 0.1% |
| 现金转化率经营现金流/净利润 | — | 1.34× |
| 过去12个月自由现金流最近4个季度 | $-1.9B | $478.4M |
8季度趋势，按日历期对齐
经营现金流MRNAROKU
| Q4 25 | — | $107.7M | ||
| Q3 25 | $-847.0M | $127.6M | ||
| Q2 25 | — | $109.7M | ||
| Q1 25 | — | $138.7M | ||
| Q4 24 | $825.0M | $79.3M | ||
| Q3 24 | $-1.6B | $68.7M | ||
| Q2 24 | — | $23.4M | ||
| Q1 24 | — | $46.7M |
自由现金流MRNAROKU
| Q4 25 | — | $106.6M | ||
| Q3 25 | $-880.0M | $126.5M | ||
| Q2 25 | — | $108.6M | ||
| Q1 25 | — | $136.8M | ||
| Q4 24 | $303.0M | $76.8M | ||
| Q3 24 | $-1.7B | $67.6M | ||
| Q2 24 | — | $22.5M | ||
| Q1 24 | — | $46.0M |
自由现金流率MRNAROKU
| Q4 25 | — | 7.6% | ||
| Q3 25 | -86.6% | 10.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | 31.4% | 6.4% | ||
| Q3 24 | -92.2% | 6.4% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 5.2% |
资本支出强度MRNAROKU
| Q4 25 | — | 0.1% | ||
| Q3 25 | 3.2% | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 54.0% | 0.2% | ||
| Q3 24 | 8.1% | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.1% |
现金转化率MRNAROKU
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | 5.14× | ||
| Q2 25 | — | 10.45× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -120.46× | — | ||
| 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
MRNA
| COVID19 | $971.0M | 96% |
| Other Revenue | $20.0M | 2% |
| Grant | $14.0M | 1% |
| Collaboration Arrangement Including Arrangements With Affiliate | $7.0M | 1% |
| License And Royalty | $2.0M | 0% |
ROKU
| Services | $1.2B | 88% |
| Products | $170.9M | 12% |
