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纳斯达克（NDAQ）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
纳斯达克的季度营收约是罗布乐思的1.5倍（$2.1B vs $1.4B），纳斯达克净利率更高（24.3% vs -22.3%，领先46.6%），罗布乐思同比增速更快（43.2% vs 2.0%），过去两年罗布乐思的营收复合增速更高（32.9% vs 9.2%）
纳斯达克是美国的证券交易所，市值规模在全球证券交易所中排名第二，也是全球首个完全电子化的股票市场。其总部位于纽约曼哈顿，是美国交易量领先、活跃度最高的股票交易场所之一。
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。
NDAQ vs RBLX — 直观对比
营收规模更大
NDAQ
是对方的1.5倍
$1.4B
营收增速更快
RBLX
高出41.2%
2.0%
净利率更高
NDAQ
高出46.6%
-22.3%
两年增速更快
RBLX
近两年复合增速
9.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.4B |
| 净利润 | $519.0M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 30.7% | -25.3% |
| 净利率 | 24.3% | -22.3% |
| 营收同比 | 2.0% | 43.2% |
| 净利润同比 | 31.4% | -43.9% |
| 每股收益（稀释后） | $0.91 | $-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NDAQRBLX
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $1.4B | ||
| Q3 25 | $2.0B | $1.4B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.1B | $1.0B | ||
| Q4 24 | $2.0B | $988.2M | ||
| Q3 24 | $1.9B | $919.0M | ||
| Q2 24 | $1.8B | $893.5M |
净利润NDAQRBLX
| Q1 26 | $519.0M | — | ||
| Q4 25 | $518.0M | $-316.0M | ||
| Q3 25 | $423.0M | $-255.6M | ||
| Q2 25 | $452.0M | $-278.4M | ||
| Q1 25 | $395.0M | $-215.1M | ||
| Q4 24 | $355.0M | $-219.6M | ||
| Q3 24 | $306.0M | $-239.3M | ||
| Q2 24 | $222.0M | $-205.9M |
毛利率NDAQRBLX
| Q1 26 | — | — | ||
| Q4 25 | 65.5% | 77.7% | ||
| Q3 25 | 67.2% | 78.2% | ||
| Q2 25 | 62.5% | 78.2% | ||
| Q1 25 | 59.2% | 78.3% | ||
| Q4 24 | 60.4% | 77.9% | ||
| Q3 24 | 60.3% | 77.7% | ||
| Q2 24 | 64.7% | 77.8% |
营业利润率NDAQRBLX
| Q1 26 | 30.7% | — | ||
| Q4 25 | 29.7% | -25.3% | ||
| Q3 25 | 29.9% | -21.8% | ||
| Q2 25 | 27.2% | -29.8% | ||
| Q1 25 | 26.2% | -24.6% | ||
| Q4 24 | 25.4% | -24.7% | ||
| Q3 24 | 23.6% | -30.4% | ||
| Q2 24 | 23.6% | -26.6% |
净利率NDAQRBLX
| Q1 26 | 24.3% | — | ||
| Q4 25 | 24.4% | -22.3% | ||
| Q3 25 | 21.6% | -18.8% | ||
| Q2 25 | 21.6% | -25.8% | ||
| Q1 25 | 18.9% | -20.8% | ||
| Q4 24 | 17.5% | -22.2% | ||
| Q3 24 | 16.1% | -26.0% | ||
| Q2 24 | 12.4% | -23.0% |
每股收益（稀释后）NDAQRBLX
| Q1 26 | $0.91 | — | ||
| Q4 25 | $0.90 | $-0.44 | ||
| Q3 25 | $0.73 | $-0.37 | ||
| Q2 25 | $0.78 | $-0.41 | ||
| Q1 25 | $0.68 | $-0.32 | ||
| Q4 24 | $0.62 | $-0.32 | ||
| Q3 24 | $0.53 | $-0.37 | ||
| Q2 24 | $0.38 | $-0.32 |
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 | $515.0M | $3.1B |
| 总债务越低越好 | $9.0B | $1.2B |
| 股东权益账面价值 | $12.0B | $394.5M |
| 总资产 | $27.3B | $9.6B |
| 负债/权益比越低杠杆越低 | 0.74× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资NDAQRBLX
| Q1 26 | $515.0M | — | ||
| Q4 25 | $604.0M | $3.1B | ||
| Q3 25 | $470.0M | $2.9B | ||
| Q2 25 | $732.0M | $2.6B | ||
| Q1 25 | $690.0M | $2.7B | ||
| Q4 24 | $592.0M | $2.4B | ||
| Q3 24 | $266.0M | $2.3B | ||
| Q2 24 | $416.0M | $2.4B |
总债务NDAQRBLX
| Q1 26 | $9.0B | — | ||
| Q4 25 | $8.6B | $1.2B | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.9B | — | ||
| Q4 24 | $9.1B | $1.2B | ||
| Q3 24 | $9.4B | — | ||
| Q2 24 | $9.2B | — |
股东权益NDAQRBLX
| Q1 26 | $12.0B | — | ||
| Q4 25 | $12.2B | $394.5M | ||
| Q3 25 | $12.0B | $407.6M | ||
| Q2 25 | $11.8B | $353.2M | ||
| Q1 25 | $11.5B | $310.7M | ||
| Q4 24 | $11.2B | $221.4M | ||
| Q3 24 | $11.1B | $189.9M | ||
| Q2 24 | $10.9B | $121.5M |
总资产NDAQRBLX
| Q1 26 | $27.3B | — | ||
| Q4 25 | $31.1B | $9.6B | ||
| Q3 25 | $30.7B | $8.6B | ||
| Q2 25 | $30.4B | $7.8B | ||
| Q1 25 | $30.6B | $7.5B | ||
| Q4 24 | $30.4B | $7.2B | ||
| Q3 24 | $30.6B | $6.7B | ||
| Q2 24 | $30.2B | $6.5B |
负债/权益比NDAQRBLX
| Q1 26 | 0.74× | — | ||
| Q4 25 | 0.70× | 2.98× | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.77× | — | ||
| Q4 24 | 0.81× | 5.48× | ||
| Q3 24 | 0.85× | — | ||
| Q2 24 | 0.85× | — |
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 | — | $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 | — | — |
| 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NDAQRBLX
| Q1 26 | — | — | ||
| Q4 25 | $625.0M | $607.0M | ||
| Q3 25 | $221.0M | $546.2M | ||
| Q2 25 | $746.0M | $199.3M | ||
| Q1 25 | $663.0M | $443.9M | ||
| Q4 24 | $705.0M | $184.5M | ||
| Q3 24 | $244.0M | $247.4M | ||
| Q2 24 | $460.0M | $151.4M |
自由现金流NDAQRBLX
| Q1 26 | — | — | ||
| Q4 25 | $536.0M | $308.6M | ||
| Q3 25 | $152.0M | $443.6M | ||
| Q2 25 | $687.0M | $176.7M | ||
| Q1 25 | $614.0M | $426.5M | ||
| Q4 24 | $645.0M | $120.6M | ||
| Q3 24 | $188.0M | $218.0M | ||
| Q2 24 | $408.0M | $111.7M |
自由现金流率NDAQRBLX
| Q1 26 | — | — | ||
| Q4 25 | 25.2% | 21.8% | ||
| Q3 25 | 7.8% | 32.6% | ||
| Q2 25 | 32.9% | 16.3% | ||
| Q1 25 | 29.4% | 41.2% | ||
| Q4 24 | 31.7% | 12.2% | ||
| Q3 24 | 9.9% | 23.7% | ||
| Q2 24 | 22.8% | 12.5% |
资本支出强度NDAQRBLX
| Q1 26 | — | — | ||
| Q4 25 | 4.2% | 21.1% | ||
| Q3 25 | 3.5% | 7.5% | ||
| Q2 25 | 2.8% | 2.1% | ||
| Q1 25 | 2.3% | 1.7% | ||
| Q4 24 | 3.0% | 6.5% | ||
| Q3 24 | 2.9% | 3.2% | ||
| Q2 24 | 2.9% | 4.4% |
现金转化率NDAQRBLX
| Q1 26 | — | — | ||
| Q4 25 | 1.21× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 1.65× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.99× | — | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 2.07× | — |
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
NDAQ
| Market Services | $1.0B | 49% |
| Capital Access Platforms | $565.0M | 26% |
| Financial Technology | $517.0M | 24% |
| Other Revenues | $8.0M | 0% |
RBLX
暂无分部数据
