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Riot Platforms, Inc.（RIOT）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
Rocket Lab Corp的季度营收约是Riot Platforms, Inc.的1.2倍（$179.7M vs $152.8M），Rocket Lab Corp净利率更高（-29.5% vs -452.0%，领先422.5%），Rocket Lab Corp同比增速更快（35.7% vs 7.2%），Rocket Lab Corp自由现金流更多（$-114.2M vs $-774.3M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 38.8%）
Riot Platforms是美国领先的比特币挖矿企业，在北美地区运营多座大规模高能效的加密货币矿场，同时布局区块链相关基础设施业务，长期持有比特币作为核心储备资产，专注于数字资产生态相关业务的长期发展。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
RIOT vs RKLB — 直观对比
营收规模更大
RKLB
是对方的1.2倍
$152.8M
营收增速更快
RKLB
高出28.5%
7.2%
净利率更高
RKLB
高出422.5%
-452.0%
自由现金流更多
RKLB
多$660.1M
$-774.3M
两年增速更快
RKLB
近两年复合增速
38.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $152.8M | $179.7M |
| 净利润 | $-690.7M | $-52.9M |
| 毛利率 | — | 38.0% |
| 营业利润率 | -447.9% | -28.4% |
| 净利率 | -452.0% | -29.5% |
| 营收同比 | 7.2% | 35.7% |
| 净利润同比 | -606.3% | -1.1% |
| 每股收益（稀释后） | $-1.89 | $-0.09 |
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RIOTRKLB
| Q4 25 | $152.8M | $179.7M | ||
| Q3 25 | $180.2M | $155.1M | ||
| Q2 25 | $153.0M | $144.5M | ||
| Q1 25 | $161.4M | $122.6M | ||
| Q4 24 | $142.6M | $132.4M | ||
| Q3 24 | $84.8M | $104.8M | ||
| Q2 24 | $70.0M | $106.3M | ||
| Q1 24 | $79.3M | $92.8M |
净利润RIOTRKLB
| Q4 25 | $-690.7M | $-52.9M | ||
| Q3 25 | $104.5M | $-18.3M | ||
| Q2 25 | $219.5M | $-66.4M | ||
| Q1 25 | $-296.4M | $-60.6M | ||
| Q4 24 | $136.4M | $-52.3M | ||
| Q3 24 | $-154.4M | $-51.9M | ||
| Q2 24 | $-84.4M | $-41.6M | ||
| Q1 24 | $211.8M | $-44.3M |
毛利率RIOTRKLB
| Q4 25 | — | 38.0% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 32.1% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 27.8% | ||
| Q3 24 | — | 26.7% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 26.1% |
营业利润率RIOTRKLB
| Q4 25 | -447.9% | -28.4% | ||
| Q3 25 | 44.4% | -38.0% | ||
| Q2 25 | — | -41.3% | ||
| Q1 25 | -144.9% | -48.3% | ||
| Q4 24 | — | -38.9% | ||
| Q3 24 | -143.3% | -49.5% | ||
| Q2 24 | -167.2% | -40.7% | ||
| Q1 24 | — | -46.4% |
净利率RIOTRKLB
| Q4 25 | -452.0% | -29.5% | ||
| Q3 25 | 58.0% | -11.8% | ||
| Q2 25 | 143.4% | -46.0% | ||
| Q1 25 | -183.6% | -49.5% | ||
| Q4 24 | 95.7% | -39.5% | ||
| Q3 24 | -182.1% | -49.6% | ||
| Q2 24 | -120.6% | -39.2% | ||
| Q1 24 | 267.1% | -47.7% |
每股收益（稀释后）RIOTRKLB
| Q4 25 | $-1.89 | $-0.09 | ||
| Q3 25 | $0.26 | $-0.03 | ||
| Q2 25 | $0.58 | $-0.13 | ||
| Q1 25 | $-0.90 | $-0.12 | ||
| Q4 24 | $0.39 | $-0.11 | ||
| Q3 24 | $-0.54 | $-0.10 | ||
| Q2 24 | $-0.32 | $-0.08 | ||
| Q1 24 | $0.51 | $-0.09 |
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 | $233.5M | $1.0B |
| 总债务越低越好 | $840.8M | $152.4M |
| 股东权益账面价值 | $2.9B | $1.7B |
| 总资产 | $3.9B | $2.3B |
| 负债/权益比越低杠杆越低 | 0.29× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资RIOTRKLB
| Q4 25 | $233.5M | $1.0B | ||
| Q3 25 | $330.7M | $976.7M | ||
| Q2 25 | $255.4M | $688.1M | ||
| Q1 25 | $163.7M | $428.4M | ||
| Q4 24 | $277.9M | $419.0M | ||
| Q3 24 | $355.7M | $442.4M | ||
| Q2 24 | $481.2M | $496.8M | ||
| Q1 24 | $688.5M | $492.5M |
总债务RIOTRKLB
| Q4 25 | $840.8M | $152.4M | ||
| Q3 25 | $5.3M | $347.0M | ||
| Q2 25 | $5.3M | $346.5M | ||
| Q1 25 | $5.3M | $345.9M | ||
| Q4 24 | $584.6M | $345.4M | ||
| Q3 24 | $5.7M | $61.2M | ||
| Q2 24 | — | $64.2M | ||
| Q1 24 | — | $66.8M |
股东权益RIOTRKLB
| Q4 25 | $2.9B | $1.7B | ||
| Q3 25 | $3.5B | $1.3B | ||
| Q2 25 | $3.3B | $688.5M | ||
| Q1 25 | $2.9B | $431.3M | ||
| Q4 24 | $3.1B | $382.5M | ||
| Q3 24 | $2.7B | $419.8M | ||
| Q2 24 | $2.6B | $455.2M | ||
| Q1 24 | $2.5B | $478.9M |
总资产RIOTRKLB
| Q4 25 | $3.9B | $2.3B | ||
| Q3 25 | $4.5B | $2.2B | ||
| Q2 25 | $4.3B | $1.6B | ||
| Q1 25 | $3.7B | $1.3B | ||
| Q4 24 | $3.9B | $1.2B | ||
| Q3 24 | $2.9B | $1.2B | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.6B | $1.2B |
负债/权益比RIOTRKLB
| Q4 25 | 0.29× | 0.09× | ||
| Q3 25 | 0.00× | 0.27× | ||
| Q2 25 | 0.00× | 0.50× | ||
| Q1 25 | 0.00× | 0.80× | ||
| Q4 24 | 0.19× | 0.90× | ||
| Q3 24 | 0.00× | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $-572.9M | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $-774.3M | $-114.2M |
| 自由现金流率自由现金流/营收 | -506.6% | -63.6% |
| 资本支出强度资本支出/营收 | 131.8% | 27.6% |
| 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 | $-321.8M |
8季度趋势，按日历期对齐
经营现金流RIOTRKLB
| Q4 25 | $-572.9M | $-64.5M | ||
| Q3 25 | $-114.0M | $-23.5M | ||
| Q2 25 | $-231.3M | $-23.2M | ||
| Q1 25 | $-122.1M | $-54.2M | ||
| Q4 24 | $-255.1M | $-2.4M | ||
| Q3 24 | $-56.3M | $-30.9M | ||
| Q2 24 | $-42.5M | $-13.0M | ||
| Q1 24 | $-57.9M | $-2.6M |
自由现金流RIOTRKLB
| Q4 25 | $-774.3M | $-114.2M | ||
| Q3 25 | $-139.7M | $-69.4M | ||
| Q2 25 | $-291.7M | $-55.3M | ||
| Q1 25 | $-154.9M | $-82.9M | ||
| Q4 24 | $-495.4M | $-23.9M | ||
| Q3 24 | $-127.6M | $-41.9M | ||
| Q2 24 | $-96.1M | $-28.3M | ||
| Q1 24 | $-115.2M | $-21.8M |
自由现金流率RIOTRKLB
| Q4 25 | -506.6% | -63.6% | ||
| Q3 25 | -77.5% | -44.8% | ||
| Q2 25 | -190.7% | -38.3% | ||
| Q1 25 | -96.0% | -67.6% | ||
| Q4 24 | -347.5% | -18.1% | ||
| Q3 24 | -150.5% | -40.0% | ||
| Q2 24 | -137.2% | -26.7% | ||
| Q1 24 | -145.2% | -23.5% |
资本支出强度RIOTRKLB
| Q4 25 | 131.8% | 27.6% | ||
| Q3 25 | 14.3% | 29.6% | ||
| Q2 25 | 39.5% | 22.2% | ||
| Q1 25 | 20.4% | 23.4% | ||
| Q4 24 | 168.6% | 16.3% | ||
| Q3 24 | 84.1% | 10.5% | ||
| Q2 24 | 76.5% | 14.4% | ||
| Q1 24 | 72.3% | 20.7% |
现金转化率RIOTRKLB
| Q4 25 | — | — | ||
| Q3 25 | -1.09× | — | ||
| Q2 25 | -1.05× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.87× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.27× | — |
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
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
