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BLUE OWL CAPITAL INC.（OWL）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BLUE OWL CAPITAL INC.的1.7倍（$1.2B vs $755.6M），BLUE OWL CAPITAL INC.净利率更高（6.3% vs -2.2%，领先8.5%），BLUE OWL CAPITAL INC.同比增速更快（19.7% vs -18.3%），BLUE OWL CAPITAL INC.自由现金流更多（$359.1M vs $298.4M），过去两年BLUE OWL CAPITAL INC.的营收复合增速更高（21.3% vs 13.6%）
Blue Owl Capital Inc.是美国另类投资资产管理机构，于纽约证券交易所挂牌上市，股票代码为OWL，总部设在纽约市，在伦敦、迪拜、中国香港等全球多地设有办事处，专注为各类客户提供专业的另类资产管理解决方案。
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。
OWL vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.7倍
$755.6M
营收增速更快
OWL
高出37.9%
-18.3%
净利率更高
OWL
高出8.5%
-2.2%
自由现金流更多
OWL
多$60.7M
$298.4M
两年增速更快
OWL
近两年复合增速
13.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $755.6M | $1.2B |
| 净利润 | $47.7M | $-27.4M |
| 毛利率 | — | 35.6% |
| 营业利润率 | 22.2% | 59.7% |
| 净利率 | 6.3% | -2.2% |
| 营收同比 | 19.7% | -18.3% |
| 净利润同比 | 129.8% | -361.0% |
| 每股收益（稀释后） | $0.07 | $0.57 |
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OWLROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $755.6M | $1.4B | ||
| Q3 25 | $728.0M | $1.2B | ||
| Q2 25 | $703.1M | $1.1B | ||
| Q1 25 | $683.5M | $1.0B | ||
| Q4 24 | $631.4M | $1.2B | ||
| Q3 24 | $600.9M | $1.1B | ||
| Q2 24 | $549.8M | $968.2M |
净利润OWLROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $47.7M | $80.5M | ||
| Q3 25 | $6.3M | $24.8M | ||
| Q2 25 | $17.4M | $10.5M | ||
| Q1 25 | $7.4M | $-27.4M | ||
| Q4 24 | $20.7M | $-35.5M | ||
| Q3 24 | $29.8M | $-9.0M | ||
| Q2 24 | $33.9M | $-34.0M |
毛利率OWLROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 43.4% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 43.6% | ||
| Q4 24 | — | 42.7% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.9% |
营业利润率OWLROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 22.2% | 4.7% | ||
| Q3 25 | 7.6% | 0.8% | ||
| Q2 25 | 12.0% | -2.1% | ||
| Q1 25 | 5.9% | -5.7% | ||
| Q4 24 | 11.7% | -3.3% | ||
| Q3 24 | 18.7% | -3.4% | ||
| Q2 24 | 28.4% | -7.4% |
净利率OWLROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 6.3% | 5.8% | ||
| Q3 25 | 0.9% | 2.0% | ||
| Q2 25 | 2.5% | 0.9% | ||
| Q1 25 | 1.1% | -2.7% | ||
| Q4 24 | 3.3% | -3.0% | ||
| Q3 24 | 5.0% | -0.9% | ||
| Q2 24 | 6.2% | -3.5% |
每股收益（稀释后）OWLROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $0.07 | $0.55 | ||
| Q3 25 | $0.01 | $0.16 | ||
| Q2 25 | $0.02 | $0.07 | ||
| Q1 25 | $0.00 | $-0.19 | ||
| Q4 24 | $0.06 | $-0.24 | ||
| Q3 24 | $0.04 | $-0.06 | ||
| Q2 24 | $0.06 | $-0.24 |
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 | $194.5M | $2.4B |
| 总债务越低越好 | $3.3B | — |
| 股东权益账面价值 | $2.2B | $2.7B |
| 总资产 | $12.5B | $4.4B |
| 负债/权益比越低杠杆越低 | 1.51× | — |
8季度趋势，按日历期对齐
现金及短期投资OWLROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $194.5M | $2.3B | ||
| Q3 25 | $137.3M | $2.3B | ||
| Q2 25 | $117.6M | $2.3B | ||
| Q1 25 | $97.6M | $2.3B | ||
| Q4 24 | $152.1M | $2.2B | ||
| Q3 24 | $115.9M | $2.1B | ||
| Q2 24 | $436.8M | $2.1B |
总债务OWLROKU
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — |
股东权益OWLROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.2B | $2.7B | ||
| Q3 25 | $2.3B | $2.6B | ||
| Q2 25 | $2.4B | $2.6B | ||
| Q1 25 | $2.3B | $2.5B | ||
| Q4 24 | $2.1B | $2.5B | ||
| Q3 24 | $2.0B | $2.5B | ||
| Q2 24 | $1.7B | $2.4B |
总资产OWLROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $12.5B | $4.4B | ||
| Q3 25 | $12.5B | $4.4B | ||
| Q2 25 | $12.3B | $4.3B | ||
| Q1 25 | $12.3B | $4.2B | ||
| Q4 24 | $11.0B | $4.3B | ||
| Q3 24 | $10.8B | $4.3B | ||
| Q2 24 | $9.7B | $4.1B |
负债/权益比OWLROKU
| Q1 26 | — | — | ||
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.41× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.41× | — |
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 | $382.9M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $359.1M | $298.4M |
| 自由现金流率自由现金流/营收 | 47.5% | 23.9% |
| 资本支出强度资本支出/营收 | 3.1% | — |
| 现金转化率经营现金流/净利润 | 8.03× | — |
| 过去12个月自由现金流最近4个季度 | $1.2B | $640.0M |
8季度趋势，按日历期对齐
经营现金流OWLROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $382.9M | $107.7M | ||
| Q3 25 | $433.1M | $127.6M | ||
| Q2 25 | $422.5M | $109.7M | ||
| Q1 25 | $17.6M | $138.7M | ||
| Q4 24 | $324.0M | $79.3M | ||
| Q3 24 | $326.0M | $68.7M | ||
| Q2 24 | $302.3M | $23.4M |
自由现金流OWLROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $359.1M | $106.6M | ||
| Q3 25 | $422.5M | $126.5M | ||
| Q2 25 | $412.5M | $108.6M | ||
| Q1 25 | $4.2M | $136.8M | ||
| Q4 24 | $310.1M | $76.8M | ||
| Q3 24 | $314.8M | $67.6M | ||
| Q2 24 | $269.4M | $22.5M |
自由现金流率OWLROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 47.5% | 7.6% | ||
| Q3 25 | 58.0% | 10.4% | ||
| Q2 25 | 58.7% | 9.8% | ||
| Q1 25 | 0.6% | 13.4% | ||
| Q4 24 | 49.1% | 6.4% | ||
| Q3 24 | 52.4% | 6.4% | ||
| Q2 24 | 49.0% | 2.3% |
资本支出强度OWLROKU
| Q1 26 | — | — | ||
| Q4 25 | 3.1% | 0.1% | ||
| Q3 25 | 1.5% | 0.1% | ||
| Q2 25 | 1.4% | 0.1% | ||
| Q1 25 | 2.0% | 0.2% | ||
| Q4 24 | 2.2% | 0.2% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 6.0% | 0.1% |
现金转化率OWLROKU
| Q1 26 | — | — | ||
| Q4 25 | 8.03× | 1.34× | ||
| Q3 25 | 68.64× | 5.14× | ||
| Q2 25 | 24.25× | 10.45× | ||
| Q1 25 | 2.37× | — | ||
| Q4 24 | 15.62× | — | ||
| Q3 24 | 10.94× | — | ||
| Q2 24 | 8.91× | — |
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
OWL
| Credit Platform | $455.0M | 60% |
| GP Strategic Capital Platform | $157.0M | 21% |
| Administrative Service | $87.6M | 12% |
| IPI Partners LLC | $33.8M | 4% |
| Other | $22.2M | 3% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
