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PIPER SANDLER COMPANIES（PIPR）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PIPER SANDLER COMPANIES的1.9倍（$1.2B vs $667.0M），PIPER SANDLER COMPANIES净利率更高（17.1% vs -2.2%，领先19.3%），PIPER SANDLER COMPANIES同比增速更快（37.4% vs -18.3%），过去两年PIPER SANDLER COMPANIES的营收复合增速更高（39.2% vs 13.6%）
Piper Sandler是一家美国跨国投资银行及金融服务提供商，核心业务覆盖并购重组、财务重整、公开募股、公共财政、机构经纪、投资管理、证券研究等领域，通过旗下核心子公司Piper Sandler & Co.为企业、机构投资者及公共组织提供专业金融服务。
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。
PIPR vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.9倍
$667.0M
营收增速更快
PIPR
高出55.7%
-18.3%
净利率更高
PIPR
高出19.3%
-2.2%
两年增速更快
PIPR
近两年复合增速
13.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $667.0M | $1.2B |
| 净利润 | $114.0M | $-27.4M |
| 毛利率 | — | 35.6% |
| 营业利润率 | 28.3% | 59.7% |
| 净利率 | 17.1% | -2.2% |
| 营收同比 | 37.4% | -18.3% |
| 净利润同比 | 65.0% | -361.0% |
| 每股收益（稀释后） | $6.41 | $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PIPRROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $667.0M | $1.4B | ||
| Q3 25 | $480.1M | $1.2B | ||
| Q2 25 | $398.6M | $1.1B | ||
| Q1 25 | $358.6M | $1.0B | ||
| Q4 24 | $485.4M | $1.2B | ||
| Q3 24 | $360.9M | $1.1B | ||
| Q2 24 | $340.8M | $968.2M |
净利润PIPRROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $114.0M | $80.5M | ||
| Q3 25 | $60.3M | $24.8M | ||
| Q2 25 | $42.2M | $10.5M | ||
| Q1 25 | $64.9M | $-27.4M | ||
| Q4 24 | $69.1M | $-35.5M | ||
| Q3 24 | $34.8M | $-9.0M | ||
| Q2 24 | $34.8M | $-34.0M |
毛利率PIPRROKU
| 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PIPRROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 28.3% | 4.7% | ||
| Q3 25 | 22.4% | 0.8% | ||
| Q2 25 | 12.3% | -2.1% | ||
| Q1 25 | 8.2% | -5.7% | ||
| Q4 24 | 16.9% | -3.3% | ||
| Q3 24 | 15.4% | -3.4% | ||
| Q2 24 | 8.3% | -7.4% |
净利率PIPRROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 17.1% | 5.8% | ||
| Q3 25 | 12.6% | 2.0% | ||
| Q2 25 | 10.6% | 0.9% | ||
| Q1 25 | 18.1% | -2.7% | ||
| Q4 24 | 14.2% | -3.0% | ||
| Q3 24 | 9.6% | -0.9% | ||
| Q2 24 | 10.2% | -3.5% |
每股收益（稀释后）PIPRROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $6.41 | $0.55 | ||
| Q3 25 | $3.38 | $0.16 | ||
| Q2 25 | $2.38 | $0.07 | ||
| Q1 25 | $3.65 | $-0.19 | ||
| Q4 24 | $3.88 | $-0.24 | ||
| Q3 24 | $1.96 | $-0.06 | ||
| Q2 24 | $1.97 | $-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 | — | $2.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $2.7B |
| 总资产 | $2.6B | $4.4B |
| 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PIPRROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B |
股东权益PIPRROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.4B | $2.7B | ||
| Q3 25 | $1.3B | $2.6B | ||
| Q2 25 | $1.2B | $2.6B | ||
| Q1 25 | $1.2B | $2.5B | ||
| Q4 24 | $1.2B | $2.5B | ||
| Q3 24 | $1.2B | $2.5B | ||
| Q2 24 | $1.1B | $2.4B |
总资产PIPRROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $2.6B | $4.4B | ||
| Q3 25 | $2.2B | $4.4B | ||
| Q2 25 | $2.0B | $4.3B | ||
| Q1 25 | $1.8B | $4.2B | ||
| Q4 24 | $2.3B | $4.3B | ||
| Q3 24 | $2.0B | $4.3B | ||
| Q2 24 | $1.9B | $4.1B |
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 | $729.8M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | — | $298.4M |
| 自由现金流率自由现金流/营收 | — | 23.9% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 6.40× | — |
| 过去12个月自由现金流最近4个季度 | — | $640.0M |
8季度趋势，按日历期对齐
经营现金流PIPRROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $729.8M | $107.7M | ||
| Q3 25 | $31.9M | $127.6M | ||
| Q2 25 | $32.1M | $109.7M | ||
| Q1 25 | $-207.2M | $138.7M | ||
| Q4 24 | $163.8M | $79.3M | ||
| Q3 24 | $80.1M | $68.7M | ||
| Q2 24 | $266.5M | $23.4M |
自由现金流PIPRROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | — | $106.6M | ||
| Q3 25 | — | $126.5M | ||
| Q2 25 | — | $108.6M | ||
| Q1 25 | — | $136.8M | ||
| Q4 24 | — | $76.8M | ||
| Q3 24 | — | $67.6M | ||
| Q2 24 | — | $22.5M |
自由现金流率PIPRROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 2.3% |
资本支出强度PIPRROKU
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% |
现金转化率PIPRROKU
| Q1 26 | — | — | ||
| Q4 25 | 6.40× | 1.34× | ||
| Q3 25 | 0.53× | 5.14× | ||
| Q2 25 | 0.76× | 10.45× | ||
| Q1 25 | -3.19× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 2.30× | — | ||
| Q2 24 | 7.66× | — |
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
PIPR
| Advisory Services | $402.6M | 60% |
| Equities Financing | $66.7M | 10% |
| Equity Salesand Trading | $64.2M | 10% |
| Fixed Income Salesand Trading | $47.9M | 7% |
| Other | $46.7M | 7% |
| Debt Financing | $38.9M | 6% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
