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罗布乐思（RBLX）与Take-Two Interactive（TTWO）财务数据对比。点击上方公司名可切换其他公司
Take-Two Interactive的季度营收约是罗布乐思的1.2倍（$1.7B vs $1.4B），Take-Two Interactive净利率更高（-5.5% vs -22.3%，领先16.9%），罗布乐思同比增速更快（43.2% vs 24.9%），罗布乐思自由现金流更多（$308.6M vs $236.2M），过去两年罗布乐思的营收复合增速更高（32.9% vs 10.2%）
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。
Take-Two Interactive是总部位于美国纽约的电子游戏控股企业，由瑞安·布兰特于1993年9月创立，在全球互动娱乐领域拥有较高影响力，业务覆盖游戏研发、发行与运营等核心环节。
RBLX vs TTWO — 直观对比
营收规模更大
TTWO
是对方的1.2倍
$1.4B
营收增速更快
RBLX
高出18.2%
24.9%
净利率更高
TTWO
高出16.9%
-22.3%
自由现金流更多
RBLX
多$72.4M
$236.2M
两年增速更快
RBLX
近两年复合增速
10.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.7B |
| 净利润 | $-316.0M | $-92.9M |
| 毛利率 | 77.7% | 55.7% |
| 营业利润率 | -25.3% | -2.3% |
| 净利率 | -22.3% | -5.5% |
| 营收同比 | 43.2% | 24.9% |
| 净利润同比 | -43.9% | 25.8% |
| 每股收益（稀释后） | $-0.44 | $-0.50 |
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RBLXTTWO
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | $988.2M | $1.4B | ||
| Q3 24 | $919.0M | $1.4B | ||
| Q2 24 | $893.5M | $1.3B | ||
| Q1 24 | $801.3M | $1.4B |
净利润RBLXTTWO
| Q4 25 | $-316.0M | $-92.9M | ||
| Q3 25 | $-255.6M | $-133.9M | ||
| Q2 25 | $-278.4M | $-11.9M | ||
| Q1 25 | $-215.1M | $-3.7B | ||
| Q4 24 | $-219.6M | $-125.2M | ||
| Q3 24 | $-239.3M | $-365.5M | ||
| Q2 24 | $-205.9M | $-262.0M | ||
| Q1 24 | $-270.6M | $-2.9B |
毛利率RBLXTTWO
| Q4 25 | 77.7% | 55.7% | ||
| Q3 25 | 78.2% | 55.3% | ||
| Q2 25 | 78.2% | 62.8% | ||
| Q1 25 | 78.3% | 50.8% | ||
| Q4 24 | 77.9% | 55.9% | ||
| Q3 24 | 77.7% | 53.8% | ||
| Q2 24 | 77.8% | 57.6% | ||
| Q1 24 | 77.7% | 33.5% |
营业利润率RBLXTTWO
| Q4 25 | -25.3% | -2.3% | ||
| Q3 25 | -21.8% | -5.5% | ||
| Q2 25 | -29.8% | 1.4% | ||
| Q1 25 | -24.6% | -238.7% | ||
| Q4 24 | -24.7% | -9.7% | ||
| Q3 24 | -30.4% | -22.0% | ||
| Q2 24 | -26.6% | -13.8% | ||
| Q1 24 | -37.7% | -193.9% |
净利率RBLXTTWO
| Q4 25 | -22.3% | -5.5% | ||
| Q3 25 | -18.8% | -7.5% | ||
| Q2 25 | -25.8% | -0.8% | ||
| Q1 25 | -20.8% | -235.5% | ||
| Q4 24 | -22.2% | -9.2% | ||
| Q3 24 | -26.0% | -27.0% | ||
| Q2 24 | -23.0% | -19.6% | ||
| Q1 24 | -33.8% | -207.4% |
每股收益（稀释后）RBLXTTWO
| Q4 25 | $-0.44 | $-0.50 | ||
| Q3 25 | $-0.37 | $-0.73 | ||
| Q2 25 | $-0.41 | $-0.07 | ||
| Q1 25 | $-0.32 | $-21.27 | ||
| Q4 24 | $-0.32 | $-0.71 | ||
| Q3 24 | $-0.37 | $-2.08 | ||
| Q2 24 | $-0.32 | $-1.52 | ||
| Q1 24 | $-0.43 | $-17.05 |
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 | $2.4B |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $394.5M | $3.5B |
| 总资产 | $9.6B | $10.0B |
| 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RBLXTTWO
| Q4 25 | $3.1B | $2.4B | ||
| Q3 25 | $2.9B | $2.1B | ||
| Q2 25 | $2.6B | $2.0B | ||
| Q1 25 | $2.7B | $1.5B | ||
| Q4 24 | $2.4B | $1.2B | ||
| Q3 24 | $2.3B | $879.6M | ||
| Q2 24 | $2.4B | $1.1B | ||
| Q1 24 | $2.4B | $776.0M |
总债务RBLXTTWO
| Q4 25 | $1.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益RBLXTTWO
| Q4 25 | $394.5M | $3.5B | ||
| Q3 25 | $407.6M | $3.4B | ||
| Q2 25 | $353.2M | $3.5B | ||
| Q1 25 | $310.7M | $2.1B | ||
| Q4 24 | $221.4M | $5.7B | ||
| Q3 24 | $189.9M | $5.8B | ||
| Q2 24 | $121.5M | $6.0B | ||
| Q1 24 | $71.6M | $5.7B |
总资产RBLXTTWO
| Q4 25 | $9.6B | $10.0B | ||
| Q3 25 | $8.6B | $10.1B | ||
| Q2 25 | $7.8B | $9.7B | ||
| Q1 25 | $7.5B | $9.2B | ||
| Q4 24 | $7.2B | $12.7B | ||
| Q3 24 | $6.7B | $13.1B | ||
| Q2 24 | $6.5B | $12.9B | ||
| Q1 24 | $6.3B | $12.2B |
负债/权益比RBLXTTWO
| 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 | $305.2M |
| 自由现金流经营现金流 - 资本支出 | $308.6M | $236.2M |
| 自由现金流率自由现金流/营收 | 21.8% | 13.9% |
| 资本支出强度资本支出/营收 | 21.1% | 4.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $1.4B | $487.8M |
8季度趋势，按日历期对齐
经营现金流RBLXTTWO
| Q4 25 | $607.0M | $305.2M | ||
| Q3 25 | $546.2M | $128.4M | ||
| Q2 25 | $199.3M | $-44.7M | ||
| Q1 25 | $443.9M | $279.0M | ||
| Q4 24 | $184.5M | $-4.8M | ||
| Q3 24 | $247.4M | $-128.4M | ||
| Q2 24 | $151.4M | $-191.0M | ||
| Q1 24 | $238.9M | $-8.9M |
自由现金流RBLXTTWO
| Q4 25 | $308.6M | $236.2M | ||
| Q3 25 | $443.6M | $96.5M | ||
| Q2 25 | $176.7M | $-69.8M | ||
| Q1 25 | $426.5M | $224.9M | ||
| Q4 24 | $120.6M | $-48.2M | ||
| Q3 24 | $218.0M | $-165.2M | ||
| Q2 24 | $111.7M | $-226.1M | ||
| Q1 24 | $192.3M | $-55.1M |
自由现金流率RBLXTTWO
| Q4 25 | 21.8% | 13.9% | ||
| Q3 25 | 32.6% | 5.4% | ||
| Q2 25 | 16.3% | -4.6% | ||
| Q1 25 | 41.2% | 14.2% | ||
| Q4 24 | 12.2% | -3.5% | ||
| Q3 24 | 23.7% | -12.2% | ||
| Q2 24 | 12.5% | -16.9% | ||
| Q1 24 | 24.0% | -3.9% |
资本支出强度RBLXTTWO
| Q4 25 | 21.1% | 4.1% | ||
| Q3 25 | 7.5% | 1.8% | ||
| Q2 25 | 2.1% | 1.7% | ||
| Q1 25 | 1.7% | 3.4% | ||
| Q4 24 | 6.5% | 3.2% | ||
| Q3 24 | 3.2% | 2.7% | ||
| Q2 24 | 4.4% | 2.6% | ||
| Q1 24 | 5.8% | 3.3% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
