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RH（RH）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RH的1.4倍（$1.2B vs $883.8M），RH净利率更高（4.1% vs -2.2%，领先6.3%），RH同比增速更快（8.9% vs -18.3%），ROKU, INC自由现金流更多（$298.4M vs $83.0M），过去两年ROKU, INC的营收复合增速更高（13.6% vs 9.4%）
RH是美国高端家居品牌，总部位于加利福尼亚州科尔特马德拉。品牌通过线下零售门店、产品目录和线上渠道发售家居商品，截至2018年8月，在美国和加拿大共运营70家展示馆、18家全系列设计展示馆、3家婴童家居展示馆，另有36家奥莱门店。
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。
RH vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.4倍
$883.8M
营收增速更快
RH
高出27.2%
-18.3%
净利率更高
RH
高出6.3%
-2.2%
自由现金流更多
ROKU
多$215.4M
$83.0M
两年增速更快
ROKU
近两年复合增速
9.4%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $883.8M | $1.2B |
| 净利润 | $36.3M | $-27.4M |
| 毛利率 | 44.1% | 35.6% |
| 营业利润率 | 12.0% | 59.7% |
| 净利率 | 4.1% | -2.2% |
| 营收同比 | 8.9% | -18.3% |
| 净利润同比 | 9.3% | -361.0% |
| 每股收益（稀释后） | $1.83 | $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RHROKU
| Q1 26 | — | $1.2B | ||
| Q4 25 | $883.8M | $1.4B | ||
| Q3 25 | $899.2M | $1.2B | ||
| Q2 25 | $814.0M | $1.1B | ||
| Q1 25 | $812.4M | $1.0B | ||
| Q4 24 | $811.7M | $1.2B | ||
| Q3 24 | $829.7M | $1.1B | ||
| Q2 24 | $727.0M | $968.2M |
净利润RHROKU
| Q1 26 | — | $-27.4M | ||
| Q4 25 | $36.3M | $80.5M | ||
| Q3 25 | $51.7M | $24.8M | ||
| Q2 25 | $8.0M | $10.5M | ||
| Q1 25 | $13.9M | $-27.4M | ||
| Q4 24 | $33.2M | $-35.5M | ||
| Q3 24 | $29.0M | $-9.0M | ||
| Q2 24 | $-3.6M | $-34.0M |
毛利率RHROKU
| Q1 26 | — | 35.6% | ||
| Q4 25 | 44.1% | 43.5% | ||
| Q3 25 | 45.5% | 43.4% | ||
| Q2 25 | 43.7% | 44.8% | ||
| Q1 25 | 44.7% | 43.6% | ||
| Q4 24 | 44.5% | 42.7% | ||
| Q3 24 | 45.2% | 45.2% | ||
| Q2 24 | 43.5% | 43.9% |
营业利润率RHROKU
| Q1 26 | — | 59.7% | ||
| Q4 25 | 12.0% | 4.7% | ||
| Q3 25 | 14.3% | 0.8% | ||
| Q2 25 | 6.9% | -2.1% | ||
| Q1 25 | 8.7% | -5.7% | ||
| Q4 24 | 12.5% | -3.3% | ||
| Q3 24 | 11.6% | -3.4% | ||
| Q2 24 | 7.5% | -7.4% |
净利率RHROKU
| Q1 26 | — | -2.2% | ||
| Q4 25 | 4.1% | 5.8% | ||
| Q3 25 | 5.8% | 2.0% | ||
| Q2 25 | 1.0% | 0.9% | ||
| Q1 25 | 1.7% | -2.7% | ||
| Q4 24 | 4.1% | -3.0% | ||
| Q3 24 | 3.5% | -0.9% | ||
| Q2 24 | -0.5% | -3.5% |
每股收益（稀释后）RHROKU
| Q1 26 | — | $0.57 | ||
| Q4 25 | $1.83 | $0.55 | ||
| Q3 25 | $2.62 | $0.16 | ||
| Q2 25 | $0.40 | $0.07 | ||
| Q1 25 | $0.71 | $-0.19 | ||
| Q4 24 | $1.66 | $-0.24 | ||
| Q3 24 | $1.45 | $-0.06 | ||
| Q2 24 | $-0.20 | $-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 | $43.1M | $2.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.3M | $2.7B |
| 总资产 | $4.8B | $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RHROKU
| Q1 26 | — | $2.4B | ||
| Q4 25 | $43.1M | $2.3B | ||
| Q3 25 | $34.6M | $2.3B | ||
| Q2 25 | $46.1M | $2.3B | ||
| Q1 25 | $30.4M | $2.3B | ||
| Q4 24 | $87.0M | $2.2B | ||
| Q3 24 | $78.3M | $2.1B | ||
| Q2 24 | $101.8M | $2.1B |
股东权益RHROKU
| Q1 26 | — | $2.7B | ||
| Q4 25 | $3.3M | $2.7B | ||
| Q3 25 | $-40.9M | $2.6B | ||
| Q2 25 | $-110.8M | $2.6B | ||
| Q1 25 | $-163.6M | $2.5B | ||
| Q4 24 | $-183.0M | $2.5B | ||
| Q3 24 | $-234.7M | $2.5B | ||
| Q2 24 | $-289.9M | $2.4B |
总资产RHROKU
| Q1 26 | — | $4.4B | ||
| Q4 25 | $4.8B | $4.4B | ||
| Q3 25 | $4.7B | $4.4B | ||
| Q2 25 | $4.7B | $4.3B | ||
| Q1 25 | $4.6B | $4.2B | ||
| Q4 24 | $4.5B | $4.3B | ||
| Q3 24 | $4.4B | $4.3B | ||
| Q2 24 | $4.2B | $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 | $131.9M | $199.1M |
| 自由现金流经营现金流 - 资本支出 | $83.0M | $298.4M |
| 自由现金流率自由现金流/营收 | 9.4% | 23.9% |
| 资本支出强度资本支出/营收 | 5.5% | — |
| 现金转化率经营现金流/净利润 | 3.64× | — |
| 过去12个月自由现金流最近4个季度 | $128.1M | $640.0M |
8季度趋势，按日历期对齐
经营现金流RHROKU
| Q1 26 | — | $199.1M | ||
| Q4 25 | $131.9M | $107.7M | ||
| Q3 25 | $137.7M | $127.6M | ||
| Q2 25 | $86.6M | $109.7M | ||
| Q1 25 | $-18.8M | $138.7M | ||
| Q4 24 | $-31.4M | $79.3M | ||
| Q3 24 | $11.2M | $68.7M | ||
| Q2 24 | $56.1M | $23.4M |
自由现金流RHROKU
| Q1 26 | — | $298.4M | ||
| Q4 25 | $83.0M | $106.6M | ||
| Q3 25 | $80.7M | $126.5M | ||
| Q2 25 | $34.1M | $108.6M | ||
| Q1 25 | $-69.7M | $136.8M | ||
| Q4 24 | $-96.0M | $76.8M | ||
| Q3 24 | $-37.9M | $67.6M | ||
| Q2 24 | $-10.1M | $22.5M |
自由现金流率RHROKU
| Q1 26 | — | 23.9% | ||
| Q4 25 | 9.4% | 7.6% | ||
| Q3 25 | 9.0% | 10.4% | ||
| Q2 25 | 4.2% | 9.8% | ||
| Q1 25 | -8.6% | 13.4% | ||
| Q4 24 | -11.8% | 6.4% | ||
| Q3 24 | -4.6% | 6.4% | ||
| Q2 24 | -1.4% | 2.3% |
资本支出强度RHROKU
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 0.1% | ||
| Q3 25 | 6.3% | 0.1% | ||
| Q2 25 | 6.5% | 0.1% | ||
| Q1 25 | 6.3% | 0.2% | ||
| Q4 24 | 8.0% | 0.2% | ||
| Q3 24 | 5.9% | 0.1% | ||
| Q2 24 | 9.1% | 0.1% |
现金转化率RHROKU
| Q1 26 | — | — | ||
| Q4 25 | 3.64× | 1.34× | ||
| Q3 25 | 2.66× | 5.14× | ||
| Q2 25 | 10.78× | 10.45× | ||
| Q1 25 | -1.35× | — | ||
| Q4 24 | -0.95× | — | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | — | — |
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
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
