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蔚来（NIO）与Rocket Companies, Inc.（RKT）财务数据对比。点击上方公司名可切换其他公司
蔚来的季度营收约是Rocket Companies, Inc.的1.8倍（$4.7B vs $2.7B），Rocket Companies, Inc.净利率更高（2.5% vs 0.8%，领先1.7%），蔚来自由现金流更多（$-439.4M vs $-1.3B）
蔚来是中国本土新能源汽车制造商，总部位于上海，2014年成立，2016年正式启用现有品牌名称。公司专注于智能电动汽车的研发、设计与销售，产品覆盖轿车、SUV等多个品类，近年已将业务拓展至智能手机研发领域。
Rocket Companies, Inc.是美国金融科技及住房服务企业，由丹·吉尔伯特创立，总部位于密歇根州底特律市中心。公司依托旗舰子公司Rocket Mortgage跻身美国最大抵押贷款提供商行列，旗下还拥有Redfin、Forsalebyowner.com、Rocket Money等子品牌。
NIO vs RKT — 直观对比
营收规模更大
NIO
是对方的1.8倍
$2.7B
净利率更高
RKT
高出1.7%
0.8%
自由现金流更多
NIO
多$830.2M
$-1.3B
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $2.7B |
| 净利润 | $38.7M | $68.0M |
| 毛利率 | 17.5% | — |
| 营业利润率 | 1.5% | 6.3% |
| 净利率 | 0.8% | 2.5% |
| 营收同比 | — | 52.2% |
| 净利润同比 | — | 100.8% |
| 每股收益（稀释后） | $0.05 | $0.10 |
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NIORKT
| Q1 26 | $4.7B | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $3.0B | $1.6B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.7B | $1.0B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $646.9M | ||
| Q2 24 | — | $1.3B |
净利润NIORKT
| Q1 26 | $38.7M | — | ||
| Q4 25 | — | $68.0M | ||
| Q3 25 | $-505.2M | $-123.9M | ||
| Q2 25 | $-709.5M | $-1.8M | ||
| Q1 25 | $-984.2M | $-10.4M | ||
| Q4 24 | — | $33.9M | ||
| Q3 24 | — | $-22.0M | ||
| Q2 24 | — | $1.3M |
毛利率NIORKT
| Q1 26 | 17.5% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 13.9% | — | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | — | 58.9% | ||
| Q3 24 | — | -8.4% | ||
| Q2 24 | — | 47.4% |
营业利润率NIORKT
| Q1 26 | 1.5% | — | ||
| Q4 25 | — | 6.3% | ||
| Q3 25 | -16.2% | -11.5% | ||
| Q2 25 | -25.8% | 1.8% | ||
| Q1 25 | -30.6% | -21.5% | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | — | -76.9% | ||
| Q2 24 | — | 14.8% |
净利率NIORKT
| Q1 26 | 0.8% | — | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | -16.8% | -7.7% | ||
| Q2 25 | -27.0% | -0.1% | ||
| Q1 25 | -36.2% | -1.0% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | -3.4% | ||
| Q2 24 | — | 0.1% |
每股收益（稀释后）NIORKT
| Q1 26 | $0.05 | — | ||
| Q4 25 | — | $0.10 | ||
| Q3 25 | $-1.51 | $-0.06 | ||
| Q2 25 | $-2.31 | $-0.01 | ||
| Q1 25 | $-3.47 | $-0.08 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | — | $0.01 |
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 | $4.4B | $2.7B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $594.8M | $22.9B |
| 总资产 | $17.8B | $60.7B |
| 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NIORKT
| Q1 26 | $4.4B | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | $2.5B | $5.1B | ||
| Q1 25 | $4.6B | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B |
股东权益NIORKT
| Q1 26 | $594.8M | — | ||
| Q4 25 | — | $22.9B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | $-168.3M | $7.4B | ||
| Q1 25 | $817.5M | $8.6B | ||
| Q4 24 | — | $9.0B | ||
| Q3 24 | — | $8.4B | ||
| Q2 24 | — | $8.8B |
总资产NIORKT
| Q1 26 | $17.8B | — | ||
| Q4 25 | — | $60.7B | ||
| Q3 25 | — | $33.6B | ||
| Q2 25 | $14.0B | $30.4B | ||
| Q1 25 | $14.7B | $25.3B | ||
| Q4 24 | — | $24.5B | ||
| Q3 24 | — | $25.1B | ||
| Q2 24 | — | $23.6B |
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 | $427.9M | $-1.2B |
| 自由现金流经营现金流 - 资本支出 | $-439.4M | $-1.3B |
| 自由现金流率自由现金流/营收 | -9.3% | -47.2% |
| 资本支出强度资本支出/营收 | 18.4% | 1.5% |
| 现金转化率经营现金流/净利润 | 11.07× | -18.08× |
| 过去12个月自由现金流最近4个季度 | — | $-4.0B |
8季度趋势，按日历期对齐
经营现金流NIORKT
| Q1 26 | $427.9M | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-50.3M | ||
| Q2 25 | — | $-1.9B | ||
| Q1 25 | $-1.1B | $-797.0M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $-1.3B | ||
| Q2 24 | — | $-122.3M |
自由现金流NIORKT
| Q1 26 | $-439.4M | — | ||
| Q4 25 | — | $-1.3B | ||
| Q3 25 | — | $-71.8M | ||
| Q2 25 | — | $-1.9B | ||
| Q1 25 | $-2.3B | $-811.0M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $-1.4B | ||
| Q2 24 | — | $-138.3M |
自由现金流率NIORKT
| Q1 26 | -9.3% | — | ||
| Q4 25 | — | -47.2% | ||
| Q3 25 | — | -4.5% | ||
| Q2 25 | — | -137.2% | ||
| Q1 25 | -85.6% | -78.2% | ||
| Q4 24 | — | 103.1% | ||
| Q3 24 | — | -209.6% | ||
| Q2 24 | — | -10.6% |
资本支出强度NIORKT
| Q1 26 | 18.4% | — | ||
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | 46.1% | 1.4% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 1.2% |
现金转化率NIORKT
| Q1 26 | 11.07× | — | ||
| Q4 25 | — | -18.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 54.42× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -94.46× |
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
NIO
暂无分部数据
RKT
| Other | $1.4B | 51% |
| Direct To Customer Segment | $945.8M | 35% |
| Partner Network Segment | $216.7M | 8% |
| Subscription Revenue | $91.3M | 3% |
| Closing Fees | $47.1M | 2% |
| Appraisal Revenue | $10.7M | 0% |
