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罗布乐思（RBLX）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
罗布乐思的季度营收约是Ryman Hospitality Properties, Inc.的1.9倍（$1.4B vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs -22.3%，领先32.4%），罗布乐思同比增速更快（43.2% vs 13.9%），罗布乐思自由现金流更多（$308.6M vs $58.5M），过去两年罗布乐思的营收复合增速更高（32.9% vs 18.2%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
RBLX vs RHP — 直观对比
营收规模更大
RBLX
是对方的1.9倍
$737.8M
营收增速更快
RBLX
高出29.3%
13.9%
净利率更高
RHP
高出32.4%
-22.3%
自由现金流更多
RBLX
多$250.0M
$58.5M
两年增速更快
RBLX
近两年复合增速
18.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $737.8M |
| 净利润 | $-316.0M | $74.5M |
| 毛利率 | 77.7% | 41.4% |
| 营业利润率 | -25.3% | 19.4% |
| 净利率 | -22.3% | 10.1% |
| 营收同比 | 43.2% | 13.9% |
| 净利润同比 | -43.9% | 3.0% |
| 每股收益（稀释后） | $-0.44 | $1.12 |
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RBLXRHP
| Q4 25 | $1.4B | $737.8M | ||
| Q3 25 | $1.4B | $592.5M | ||
| Q2 25 | $1.1B | $659.5M | ||
| Q1 25 | $1.0B | $587.3M | ||
| Q4 24 | $988.2M | $647.6M | ||
| Q3 24 | $919.0M | $550.0M | ||
| Q2 24 | $893.5M | $613.3M | ||
| Q1 24 | $801.3M | $528.3M |
净利润RBLXRHP
| Q4 25 | $-316.0M | $74.5M | ||
| Q3 25 | $-255.6M | $34.9M | ||
| Q2 25 | $-278.4M | $71.8M | ||
| Q1 25 | $-215.1M | $63.0M | ||
| Q4 24 | $-219.6M | $72.3M | ||
| Q3 24 | $-239.3M | $59.0M | ||
| Q2 24 | $-205.9M | $100.8M | ||
| Q1 24 | $-270.6M | $42.8M |
毛利率RBLXRHP
| Q4 25 | 77.7% | 41.4% | ||
| Q3 25 | 78.2% | 40.9% | ||
| Q2 25 | 78.2% | 49.7% | ||
| Q1 25 | 78.3% | 44.4% | ||
| Q4 24 | 77.9% | 40.4% | ||
| Q3 24 | 77.7% | 43.1% | ||
| Q2 24 | 77.8% | 48.4% | ||
| Q1 24 | 77.7% | 41.5% |
营业利润率RBLXRHP
| Q4 25 | -25.3% | 19.4% | ||
| Q3 25 | -21.8% | 15.0% | ||
| Q2 25 | -29.8% | 21.1% | ||
| Q1 25 | -24.6% | 19.8% | ||
| Q4 24 | -24.7% | 18.6% | ||
| Q3 24 | -30.4% | 19.3% | ||
| Q2 24 | -26.6% | 27.4% | ||
| Q1 24 | -37.7% | 18.2% |
净利率RBLXRHP
| Q4 25 | -22.3% | 10.1% | ||
| Q3 25 | -18.8% | 5.9% | ||
| Q2 25 | -25.8% | 10.9% | ||
| Q1 25 | -20.8% | 10.7% | ||
| Q4 24 | -22.2% | 11.2% | ||
| Q3 24 | -26.0% | 10.7% | ||
| Q2 24 | -23.0% | 16.4% | ||
| Q1 24 | -33.8% | 8.1% |
每股收益（稀释后）RBLXRHP
| Q4 25 | $-0.44 | $1.12 | ||
| Q3 25 | $-0.37 | $0.53 | ||
| Q2 25 | $-0.41 | $1.12 | ||
| Q1 25 | $-0.32 | $1.00 | ||
| Q4 24 | $-0.32 | $1.12 | ||
| Q3 24 | $-0.37 | $0.94 | ||
| Q2 24 | $-0.32 | $1.65 | ||
| Q1 24 | $-0.43 | $0.67 |
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 | $3.1B | $471.4M |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $394.5M | $750.2M |
| 总资产 | $9.6B | $6.2B |
| 负债/权益比越低杠杆越低 | 2.98× | — |
8季度趋势，按日历期对齐
现金及短期投资RBLXRHP
| Q4 25 | $3.1B | $471.4M | ||
| Q3 25 | $2.9B | $483.3M | ||
| Q2 25 | $2.6B | $420.6M | ||
| Q1 25 | $2.7B | $413.9M | ||
| Q4 24 | $2.4B | $477.7M | ||
| Q3 24 | $2.3B | $534.9M | ||
| Q2 24 | $2.4B | $498.4M | ||
| Q1 24 | $2.4B | $465.3M |
总债务RBLXRHP
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益RBLXRHP
| Q4 25 | $394.5M | $750.2M | ||
| Q3 25 | $407.6M | $758.5M | ||
| Q2 25 | $353.2M | $800.4M | ||
| Q1 25 | $310.7M | $531.5M | ||
| Q4 24 | $221.4M | $549.0M | ||
| Q3 24 | $189.9M | $551.9M | ||
| Q2 24 | $121.5M | $562.6M | ||
| Q1 24 | $71.6M | $529.9M |
总资产RBLXRHP
| Q4 25 | $9.6B | $6.2B | ||
| Q3 25 | $8.6B | $6.2B | ||
| Q2 25 | $7.8B | $6.1B | ||
| Q1 25 | $7.5B | $5.2B | ||
| Q4 24 | $7.2B | $5.2B | ||
| Q3 24 | $6.7B | $5.2B | ||
| Q2 24 | $6.5B | $5.1B | ||
| Q1 24 | $6.3B | $5.1B |
负债/权益比RBLXRHP
| Q4 25 | 2.98× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.48× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $308.6M | $58.5M |
| 自由现金流率自由现金流/营收 | 21.8% | 7.9% |
| 资本支出强度资本支出/营收 | 21.1% | 14.4% |
| 现金转化率经营现金流/净利润 | — | 2.21× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $232.4M |
8季度趋势，按日历期对齐
经营现金流RBLXRHP
| Q4 25 | $607.0M | $164.7M | ||
| Q3 25 | $546.2M | $205.2M | ||
| Q2 25 | $199.3M | $122.5M | ||
| Q1 25 | $443.9M | $98.2M | ||
| Q4 24 | $184.5M | $166.6M | ||
| Q3 24 | $247.4M | $218.1M | ||
| Q2 24 | $151.4M | $184.3M | ||
| Q1 24 | $238.9M | $7.5M |
自由现金流RBLXRHP
| Q4 25 | $308.6M | $58.5M | ||
| Q3 25 | $443.6M | $135.4M | ||
| Q2 25 | $176.7M | $53.0M | ||
| Q1 25 | $426.5M | $-14.5M | ||
| Q4 24 | $120.6M | $76.0M | ||
| Q3 24 | $218.0M | $85.7M | ||
| Q2 24 | $111.7M | $78.8M | ||
| Q1 24 | $192.3M | $-72.0M |
自由现金流率RBLXRHP
| Q4 25 | 21.8% | 7.9% | ||
| Q3 25 | 32.6% | 22.9% | ||
| Q2 25 | 16.3% | 8.0% | ||
| Q1 25 | 41.2% | -2.5% | ||
| Q4 24 | 12.2% | 11.7% | ||
| Q3 24 | 23.7% | 15.6% | ||
| Q2 24 | 12.5% | 12.9% | ||
| Q1 24 | 24.0% | -13.6% |
资本支出强度RBLXRHP
| Q4 25 | 21.1% | 14.4% | ||
| Q3 25 | 7.5% | 11.8% | ||
| Q2 25 | 2.1% | 10.5% | ||
| Q1 25 | 1.7% | 19.2% | ||
| Q4 24 | 6.5% | 14.0% | ||
| Q3 24 | 3.2% | 24.1% | ||
| Q2 24 | 4.4% | 17.2% | ||
| Q1 24 | 5.8% | 15.0% |
现金转化率RBLXRHP
| Q4 25 | — | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | — | 0.17× |
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
RBLX
暂无分部数据
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
