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M&T Bank（MTB）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
M&T Bank的季度营收约是罗布乐思的1.7倍（$2.5B vs $1.4B），M&T Bank净利率更高（30.7% vs -22.3%，领先53.0%），罗布乐思同比增速更快（43.2% vs 3.8%），过去两年罗布乐思的营收复合增速更高（32.9% vs 4.6%）
M&T银行是总部位于美国纽约州布法罗的银行控股企业，业务覆盖美国东部从缅因州到弗吉尼亚州的12个州及华盛顿特区，运营超过950家线下网点。其控股主体1998年5月前名为第一帝国州公司，之后更为现名。
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。
MTB vs RBLX — 直观对比
营收规模更大
MTB
是对方的1.7倍
$1.4B
营收增速更快
RBLX
高出39.4%
3.8%
净利率更高
MTB
高出53.0%
-22.3%
两年增速更快
RBLX
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.5B | $1.4B |
| 净利润 | $759.0M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 39.2% | -25.3% |
| 净利率 | 30.7% | -22.3% |
| 营收同比 | 3.8% | 43.2% |
| 净利润同比 | 11.5% | -43.9% |
| 每股收益（稀释后） | $4.62 | $-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MTBRBLX
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.5B | $1.4B | ||
| Q2 25 | $2.4B | $1.1B | ||
| Q1 25 | $2.3B | $1.0B | ||
| Q4 24 | $2.4B | $988.2M | ||
| Q3 24 | $2.3B | $919.0M | ||
| Q2 24 | $2.3B | $893.5M | ||
| Q1 24 | $2.3B | $801.3M |
净利润MTBRBLX
| Q4 25 | $759.0M | $-316.0M | ||
| Q3 25 | $792.0M | $-255.6M | ||
| Q2 25 | $716.0M | $-278.4M | ||
| Q1 25 | $584.0M | $-215.1M | ||
| Q4 24 | $681.0M | $-219.6M | ||
| Q3 24 | $721.0M | $-239.3M | ||
| Q2 24 | $655.0M | $-205.9M | ||
| Q1 24 | $531.0M | $-270.6M |
毛利率MTBRBLX
| 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MTBRBLX
| Q4 25 | 39.2% | -25.3% | ||
| Q3 25 | 40.8% | -21.8% | ||
| Q2 25 | 39.0% | -29.8% | ||
| Q1 25 | 33.0% | -24.6% | ||
| Q4 24 | 37.0% | -24.7% | ||
| Q3 24 | 39.0% | -30.4% | ||
| Q2 24 | 37.1% | -26.6% | ||
| Q1 24 | 29.4% | -37.7% |
净利率MTBRBLX
| Q4 25 | 30.7% | -22.3% | ||
| Q3 25 | 31.5% | -18.8% | ||
| Q2 25 | 29.9% | -25.8% | ||
| Q1 25 | 25.3% | -20.8% | ||
| Q4 24 | 28.6% | -22.2% | ||
| Q3 24 | 30.9% | -26.0% | ||
| Q2 24 | 28.5% | -23.0% | ||
| Q1 24 | 23.5% | -33.8% |
每股收益（稀释后）MTBRBLX
| Q4 25 | $4.62 | $-0.44 | ||
| Q3 25 | $4.82 | $-0.37 | ||
| Q2 25 | $4.24 | $-0.41 | ||
| Q1 25 | $3.32 | $-0.32 | ||
| Q4 24 | $3.87 | $-0.32 | ||
| Q3 24 | $4.02 | $-0.37 | ||
| Q2 24 | $3.73 | $-0.32 | ||
| Q1 24 | $3.02 | $-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 | — | $3.1B |
| 总债务越低越好 | $10.9B | $1.2B |
| 股东权益账面价值 | $29.2B | $394.5M |
| 总资产 | $213.5B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.37× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资MTBRBLX
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.4B |
总债务MTBRBLX
| Q4 25 | $10.9B | $1.2B | ||
| Q3 25 | $12.9B | — | ||
| Q2 25 | $12.4B | — | ||
| Q1 25 | $10.5B | — | ||
| Q4 24 | $12.6B | $1.2B | ||
| Q3 24 | $11.6B | — | ||
| Q2 24 | $11.3B | — | ||
| Q1 24 | $11.4B | — |
股东权益MTBRBLX
| Q4 25 | $29.2B | $394.5M | ||
| Q3 25 | $28.7B | $407.6M | ||
| Q2 25 | $28.5B | $353.2M | ||
| Q1 25 | $29.0B | $310.7M | ||
| Q4 24 | $29.0B | $221.4M | ||
| Q3 24 | $28.9B | $189.9M | ||
| Q2 24 | $28.4B | $121.5M | ||
| Q1 24 | $27.2B | $71.6M |
总资产MTBRBLX
| Q4 25 | $213.5B | $9.6B | ||
| Q3 25 | $211.3B | $8.6B | ||
| Q2 25 | $211.6B | $7.8B | ||
| Q1 25 | $210.3B | $7.5B | ||
| Q4 24 | $208.1B | $7.2B | ||
| Q3 24 | $211.8B | $6.7B | ||
| Q2 24 | $208.9B | $6.5B | ||
| Q1 24 | $215.1B | $6.3B |
负债/权益比MTBRBLX
| Q4 25 | 0.37× | 2.98× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.43× | 5.48× | ||
| Q3 24 | 0.40× | — | ||
| Q2 24 | 0.40× | — | ||
| Q1 24 | 0.42× | — |
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 | $3.0B | $607.0M |
| 自由现金流经营现金流 - 资本支出 | — | $308.6M |
| 自由现金流率自由现金流/营收 | — | 21.8% |
| 资本支出强度资本支出/营收 | — | 21.1% |
| 现金转化率经营现金流/净利润 | 3.96× | — |
| 过去12个月自由现金流最近4个季度 | — | $1.4B |
8季度趋势，按日历期对齐
经营现金流MTBRBLX
| Q4 25 | $3.0B | $607.0M | ||
| Q3 25 | $1.0B | $546.2M | ||
| Q2 25 | $844.0M | $199.3M | ||
| Q1 25 | $635.0M | $443.9M | ||
| Q4 24 | $3.6B | $184.5M | ||
| Q3 24 | $-28.0M | $247.4M | ||
| Q2 24 | $1.4B | $151.4M | ||
| Q1 24 | $608.0M | $238.9M |
自由现金流MTBRBLX
| Q4 25 | — | $308.6M | ||
| Q3 25 | — | $443.6M | ||
| Q2 25 | — | $176.7M | ||
| Q1 25 | — | $426.5M | ||
| Q4 24 | — | $120.6M | ||
| Q3 24 | — | $218.0M | ||
| Q2 24 | — | $111.7M | ||
| Q1 24 | — | $192.3M |
自由现金流率MTBRBLX
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | 32.6% | ||
| Q2 25 | — | 16.3% | ||
| Q1 25 | — | 41.2% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | — | 23.7% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | 24.0% |
资本支出强度MTBRBLX
| Q4 25 | — | 21.1% | ||
| Q3 25 | — | 7.5% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 4.4% | ||
| Q1 24 | — | 5.8% |
现金转化率MTBRBLX
| Q4 25 | 3.96× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 1.18× | — | ||
| Q1 25 | 1.09× | — | ||
| Q4 24 | 5.30× | — | ||
| Q3 24 | -0.04× | — | ||
| Q2 24 | 2.07× | — | ||
| Q1 24 | 1.15× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
