vs
NiSource（NI）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
NiSource的季度营收约是罗布乐思的1.3倍（$1.9B vs $1.4B），NiSource净利率更高（13.7% vs -22.3%，领先36.0%），罗布乐思同比增速更快（43.2% vs 22.5%），罗布乐思自由现金流更多（$308.6M vs $-133.7M），过去两年罗布乐思的营收复合增速更高（32.9% vs 7.2%）
NiSource是美国规模最大的受全面监管公用事业企业之一，总部位于印第安纳州梅里尔维尔，员工规模超8000人。公司旗下拥有Columbia Gas、NIPSCO两大本土品牌，业务覆盖美国六个州，为约350万天然气用户、50万电力用户提供服务，2018年时是印第安纳州唯一的本土公用事业企业。
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。
NI vs RBLX — 直观对比
营收规模更大
NI
是对方的1.3倍
$1.4B
营收增速更快
RBLX
高出20.7%
22.5%
净利率更高
NI
高出36.0%
-22.3%
自由现金流更多
RBLX
多$442.3M
$-133.7M
两年增速更快
RBLX
近两年复合增速
7.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $1.4B |
| 净利润 | $257.8M | $-316.0M |
| 毛利率 | — | 77.7% |
| 营业利润率 | 27.3% | -25.3% |
| 净利率 | 13.7% | -22.3% |
| 营收同比 | 22.5% | 43.2% |
| 净利润同比 | 15.1% | -43.9% |
| 每股收益（稀释后） | $0.53 | $-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NIRBLX
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $2.1B | $1.0B | ||
| Q4 24 | $1.5B | $988.2M | ||
| Q3 24 | $1.0B | $919.0M | ||
| Q2 24 | $1.1B | $893.5M | ||
| Q1 24 | $1.6B | $801.3M |
净利润NIRBLX
| Q4 25 | $257.8M | $-316.0M | ||
| Q3 25 | $94.7M | $-255.6M | ||
| Q2 25 | $102.2M | $-278.4M | ||
| Q1 25 | $474.8M | $-215.1M | ||
| Q4 24 | $223.9M | $-219.6M | ||
| Q3 24 | $85.7M | $-239.3M | ||
| Q2 24 | $85.8M | $-205.9M | ||
| Q1 24 | $365.0M | $-270.6M |
毛利率NIRBLX
| 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NIRBLX
| Q4 25 | 27.3% | -25.3% | ||
| Q3 25 | 24.0% | -21.8% | ||
| Q2 25 | 21.1% | -29.8% | ||
| Q1 25 | 35.3% | -24.6% | ||
| Q4 24 | 27.1% | -24.7% | ||
| Q3 24 | 20.9% | -30.4% | ||
| Q2 24 | 22.5% | -26.6% | ||
| Q1 24 | 35.5% | -37.7% |
净利率NIRBLX
| Q4 25 | 13.7% | -22.3% | ||
| Q3 25 | 7.6% | -18.8% | ||
| Q2 25 | 8.2% | -25.8% | ||
| Q1 25 | 22.1% | -20.8% | ||
| Q4 24 | 14.5% | -22.2% | ||
| Q3 24 | 8.2% | -26.0% | ||
| Q2 24 | 8.1% | -23.0% | ||
| Q1 24 | 22.2% | -33.8% |
每股收益（稀释后）NIRBLX
| Q4 25 | $0.53 | $-0.44 | ||
| Q3 25 | $0.20 | $-0.37 | ||
| Q2 25 | $0.22 | $-0.41 | ||
| Q1 25 | $1.00 | $-0.32 | ||
| Q4 24 | $0.47 | $-0.32 | ||
| Q3 24 | $0.19 | $-0.37 | ||
| Q2 24 | $0.19 | $-0.32 | ||
| Q1 24 | $0.77 | $-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 | $110.1M | $3.1B |
| 总债务越低越好 | $15.5B | $1.2B |
| 股东权益账面价值 | $9.5B | $394.5M |
| 总资产 | $35.9B | $9.6B |
| 负债/权益比越低杠杆越低 | 1.64× | 2.98× |
8季度趋势，按日历期对齐
现金及短期投资NIRBLX
| Q4 25 | $110.1M | $3.1B | ||
| Q3 25 | $95.0M | $2.9B | ||
| Q2 25 | $335.4M | $2.6B | ||
| Q1 25 | $259.4M | $2.7B | ||
| Q4 24 | $156.6M | $2.4B | ||
| Q3 24 | $126.2M | $2.3B | ||
| Q2 24 | $101.2M | $2.4B | ||
| Q1 24 | $102.2M | $2.4B |
总债务NIRBLX
| Q4 25 | $15.5B | $1.2B | ||
| Q3 25 | $14.5B | — | ||
| Q2 25 | $14.5B | — | ||
| Q1 25 | $12.8B | — | ||
| Q4 24 | $12.1B | $1.2B | ||
| Q3 24 | $12.1B | — | ||
| Q2 24 | $12.8B | — | ||
| Q1 24 | $11.7B | — |
股东权益NIRBLX
| Q4 25 | $9.5B | $394.5M | ||
| Q3 25 | $9.1B | $407.6M | ||
| Q2 25 | $8.9B | $353.2M | ||
| Q1 25 | $8.9B | $310.7M | ||
| Q4 24 | $8.7B | $221.4M | ||
| Q3 24 | $8.3B | $189.9M | ||
| Q2 24 | $7.9B | $121.5M | ||
| Q1 24 | $7.9B | $71.6M |
总资产NIRBLX
| Q4 25 | $35.9B | $9.6B | ||
| Q3 25 | $34.4B | $8.6B | ||
| Q2 25 | $34.0B | $7.8B | ||
| Q1 25 | $33.1B | $7.5B | ||
| Q4 24 | $31.8B | $7.2B | ||
| Q3 24 | $30.8B | $6.7B | ||
| Q2 24 | $29.9B | $6.5B | ||
| Q1 24 | $29.3B | $6.3B |
负债/权益比NIRBLX
| Q4 25 | 1.64× | 2.98× | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.63× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.39× | 5.48× | ||
| Q3 24 | 1.45× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | 1.48× | — |
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 | $712.6M | $607.0M |
| 自由现金流经营现金流 - 资本支出 | $-133.7M | $308.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 21.8% |
| 资本支出强度资本支出/营收 | 44.9% | 21.1% |
| 现金转化率经营现金流/净利润 | 2.76× | — |
| 过去12个月自由现金流最近4个季度 | $-420.0M | $1.4B |
8季度趋势，按日历期对齐
经营现金流NIRBLX
| Q4 25 | $712.6M | $607.0M | ||
| Q3 25 | $467.9M | $546.2M | ||
| Q2 25 | $495.4M | $199.3M | ||
| Q1 25 | $686.4M | $443.9M | ||
| Q4 24 | $539.8M | $184.5M | ||
| Q3 24 | $340.0M | $247.4M | ||
| Q2 24 | $445.5M | $151.4M | ||
| Q1 24 | $456.2M | $238.9M |
自由现金流NIRBLX
| Q4 25 | $-133.7M | $308.6M | ||
| Q3 25 | $-172.6M | $443.6M | ||
| Q2 25 | $-162.8M | $176.7M | ||
| Q1 25 | $49.1M | $426.5M | ||
| Q4 24 | $-220.2M | $120.6M | ||
| Q3 24 | $-294.7M | $218.0M | ||
| Q2 24 | $-184.3M | $111.7M | ||
| Q1 24 | $-133.3M | $192.3M |
自由现金流率NIRBLX
| Q4 25 | -7.1% | 21.8% | ||
| Q3 25 | -13.9% | 32.6% | ||
| Q2 25 | -13.1% | 16.3% | ||
| Q1 25 | 2.3% | 41.2% | ||
| Q4 24 | -14.3% | 12.2% | ||
| Q3 24 | -28.2% | 23.7% | ||
| Q2 24 | -17.5% | 12.5% | ||
| Q1 24 | -8.1% | 24.0% |
资本支出强度NIRBLX
| Q4 25 | 44.9% | 21.1% | ||
| Q3 25 | 51.6% | 7.5% | ||
| Q2 25 | 52.8% | 2.1% | ||
| Q1 25 | 29.6% | 1.7% | ||
| Q4 24 | 49.4% | 6.5% | ||
| Q3 24 | 60.7% | 3.2% | ||
| Q2 24 | 59.7% | 4.4% | ||
| Q1 24 | 35.9% | 5.8% |
现金转化率NIRBLX
| Q4 25 | 2.76× | — | ||
| Q3 25 | 4.94× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | 2.41× | — | ||
| Q3 24 | 3.97× | — | ||
| Q2 24 | 5.19× | — | ||
| Q1 24 | 1.25× | — |
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
NI
| Residential | $703.6M | 37% |
| Ni Source Electric Generation And Power Delivery | $525.6M | 28% |
| NIPSCO Gas Distribution | $348.1M | 18% |
| Commercial | $235.9M | 13% |
| Industrial | $45.9M | 2% |
| Offsystem | $16.9M | 1% |
| Misc. | $9.6M | 1% |
| Related Party | $3.3M | 0% |
RBLX
暂无分部数据
