CoreWeave, Inc. (CRWV)财务
NASDAQ · Technology · Software - Infrastructure · 员工2,189人 · CEO Michael N. Intrator
- 股价
- $54.87 -9.66%
- 市值
- $303亿
- 企业价值
- $755亿
- 最近财报
- Q2 '26 2026-08-12提交
- 下次财报
- 2026-11-10 EPS预期 -$1.28
营收(TTM)$75.9亿+115.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-3.0%-9.3 百分点 对比去年同期营业利润 -$2.31亿
净利润(TTM)-$19.3亿-89.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$137亿-72.1% 对比去年同期资本支出 $206亿
稀释EPS(TTM)-$3.65-17.7% 对比去年同期最近4个季度之和
净现金-$452亿-237.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $303亿 EV $755亿
- 营收
- $75.9亿 过去12个月
- 营收增速
- +150% FY2026年一致预期
- 净利润率
- -25.4% 净利润 / 营收,TTM
- P/E
- -15.0× 预期 -13.3×(FY2026)
- P/S
- 4.0× 股价 / 营收,TTM
- EV / EBITDA
- 19.1× TTM
- 自由现金流
- -$137亿 过去12个月
- 净利润
- -$19.3亿 过去12个月
- 营收预期
- $128亿 FY2026年一致预期
- 盈利
- 2026-11-10 营收预期 $35.4亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-11):营收超预期0.8%,EPS 超预期14.9%营收$25.8亿,预期$25.5亿(+0.8%);EPS -$1.03,预期-$1.21(+14.9%)。
- 营收增长放缓:同比112.5%Q2 '26营收$25.8亿,此前四个季度的平均值为140.5%。
- 营业利润率-3.0%(TTM),较去年同期-9.3 百分点营收增长115.3%,营业利润增长-204.0%。
- 资本支出占营收的271.0%(去年为243.2%)最近4个季度投入$206亿(同比+139.9%)。自由现金流-$137亿。
- 稀释股数一年内增加13.1%Q2 '26稀释股数5.51亿,一年前为4.87亿。
- 净债务 $452亿现金 + 短期投资 $64.1亿,含租赁债务 $516亿;一年前净债务 $134亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $25.8亿 | $12.1亿 | +112.5% |
| 毛利率 | 65.9% | 74.2% | -8.3 百分点 |
| 营业利润 | -$4900万 | $1900万 | -357.9% |
| 营业利润率 | -1.9% | 1.6% | -3.5 百分点 |
| 净利润 | -$6.26亿 | -$2.9亿 | -115.9% |
| 稀释EPS | -$1.14 | -$0.60 | -90.0% |
| 经营现金流 | $6.79亿 | -$2.51亿 | +370.2% |
| 资本支出 | $64.2亿 | $24.5亿 | +161.8% |
| 自由现金流 | -$57.4亿 | -$27亿 | -112.4% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1.65亿 | $1.45亿 | +13.8% |
实际 vs 一致预期
2026-08-11| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $25.8亿 | $25.5亿 | +0.8% |
| EPS(一致预期口径) | -$1.03 | -$1.21 | +14.9% |
来自2026-08-11发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $23.9亿 | +108.2% | 92.8% | – | – | |
| Non-US | $1.86亿 | +185.6% | 7.2% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $69.1亿
- 资本支出
- -$206亿
- 股票回购
- $0
- 股息
- $0
- 收购
- -$6220万
- 债务净发行
- $168亿
- 股权激励费用
- $6.19亿
- 自由现金流
- -$137亿
- 股东回报 / FCF
- 0.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -15.0× | – | – |
| EV / EBITDA | 19.1× | 30.3× 4年中的2年 | 23.1× – 37.5× |
| EV / 营收 | 9.9× | 20.6× 4年中的3年 | 9.4× – 41.3× |
| 股价 / FCF | -2.2× | – | – |
| 股价 / 净资产 | 6.0× | 9.3× 4年中的1年 | 9.3× – 9.3× |
| FCF收益率 | -45.1% | -26.7% | -68.3% – -1.0% |
| 投入资本回报率 | -0.4% | 0.4% | -0.3% – 2.1% |
| 净资产收益率 | -45.4% | 68.3% | -35.0% – 208.7% |
分析师
一致目标价 $128.76 (+134.7%)
区间 $70.00 – $250.00 · 评级 Buy
强烈买入0
买入23
持有8
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $128亿 | +149.9% | -$4.13 | -47.1% | -13.3× | 19 |
| FY2027 | $265亿 | +106.7% | -$2.10 | +49.2% | -26.1× | 19 |
| FY2028 | $428亿 | +61.6% | $0.88 | +141.7% | 62.7× | 15 |
| FY2029 | $611亿 | +42.6% | $6.36 | +626.5% | 8.6× | 9 |
| FY2030 | $870亿 | +42.4% | $16.20 | +154.7% | 3.4× | 6 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
CoreWeave, Inc. Class A Common Stock在近期10-Q / 10-K文件中标记的全部296项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $36.3亿 | $12.3亿 | +196.2% | $16.2亿 | $8.68亿 | +87.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $25.4亿 | $19.3亿 | +31.4% | $31.7亿 | $4.17亿 | +660.0% |
| Accrued Liabilities, Current | $64.2亿 | $14.1亿 | +355.2% | $57.7亿 | $3.56亿 | +1,521.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $58.9亿 | $19.5亿 | +201.3% | $33.8亿 | $9.65亿 | +250.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1800万 | -$27.1万 | -6,542.1% | – | – | – |
| Additional Paid in Capital | $90.9亿 | $47.7亿 | +90.3% | $60.1亿 | $11亿 | +448.5% |
| Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings | – | – | – | $2900万 | $5900万 | -50.8% |
| Adjustments to Additional Paid in Capital, Warrant Issued | – | – | – | $400万2023-12-31 | – | – |
| Advertising Expense | – | – | – | $2700万 | $0 | – |
| Amortization of Debt Issuance Costs and Discounts | $4500万 | $2900万 | +55.2% | $1.1亿 | $3300万 | +233.3% |
| Amortization of Intangible Assets | $1000万2025-12-31 | -$200万 | +600.0% | $2700万 | $0 | – |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2500万 | 0 | – | 9200万 | 2.36亿 | -61.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1.85亿 | $1.57亿 | +17.8% | $6.87亿 | $3900万 | +1,661.5% |
| Asset Retirement Obligation | $1.2亿 | – | – | $6200万 | $3600万 | +72.2% |
| Asset Retirement Obligation, Accretion Expense | $300万 | – | – | $500万 | $200万 | +150.0% |
| Asset Retirement Obligation, Liabilities Incurred | $2400万 | – | – | $2100万 | $2700万 | -22.2% |
| Assets | $771亿 | $262亿 | +193.7% | $493亿 | $178亿 | +176.5% |
| Assets, Current | $95.2亿 | $39.5亿 | +141.3% | $74.9亿 | $19.2亿 | +290.8% |
| Assets, Fair Value Disclosure | $3.77亿 | $5.79亿 | -34.9% | $4100万 | $1.15亿 | -64.3% |
| Capital Expenditures Incurred but Not yet Paid | $52亿 | $1.36亿 | +3,726.5% | $112亿 | $8.93亿 | +1,148.7% |
| Capitalized Computer Software, Additions | $1900万2025-09-30 | $1000万 | +90.0% | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $55.2亿 | $11.5亿 | +379.1% | $31.3亿 | $13.6亿 | +129.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $69亿 | $20.5亿 | +236.1% | $41.3亿 | $20.4亿 | +102.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $35.8亿 | -$4.63亿 | +874.1% | $21亿 | $15.6亿 | +34.7% |
| Class of Warrant or Right, Exercise Price of Warrants or Rights | – | – | – | $1.552025-03-21 | – | – |
| Common Stock, Dividends, Per Share, Declared | $0.00 | $0.00 | – | $0.00 | $0.00 | – |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 34亿 | 34亿 | 0.0% | 34亿 | 6.91亿 | +392.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$6.49亿 | -$2.9亿 | -123.8% | – | – | – |
| Contract with Customer, Asset, after Allowance for Credit Loss | $1.79亿 | – | – | – | – | – |
| Contract with Customer, Asset, before Allowance for Credit Loss, Current | $6700万2025-12-31 | $0 | – | $6700万 | $0 | – |
| Contract with Customer, Asset, before Allowance for Credit Loss, Noncurrent | $2.82亿2025-12-31 | $0 | – | $2.82亿 | $0 | – |
| Contract with Customer, Liability | $97亿 | $48亿 | +102.1% | $82亿 | $41亿 | +100.0% |
| Contract with Customer, Liability, Current | $26.9亿 | $9.51亿 | +182.3% | $17.1亿 | $7.69亿 | +122.2% |
| Contract with Customer, Liability, Noncurrent | $70.1亿 | $39亿 | +79.8% | $64.8亿 | $33亿 | +96.5% |
| Contract with Customer, Liability, Revenue Recognized | $2.5亿 | $1600万 | +1,462.5% | $7.8亿 | $2.25亿 | +246.7% |
| Conversion of Stock, Amount Converted | $0 | $0 | – | $17.2亿 | $0 | – |
| Cost of Goods and Services Sold | $8.79亿 | $3.13亿 | +180.8% | $14.5亿 | $4.93亿 | +194.7% |
| Costs and Expenses | $26.2亿 | $11.9亿 | +119.9% | $51.8亿 | $15.9亿 | +225.4% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $500万 | $0 | – |
| Current Income Tax Expense (Benefit) | – | – | – | $500万 | $600万 | -16.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $0 | $600万 | -100.0% |
| Debt Conversion, Converted Instrument, Amount | $02025-12-31 | -$29.5万 | +100.0% | $0 | $10.8亿 | -100.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $2.9亿2026-03-31 | $9630万 | +201.3% | $2.42亿 | $1.07亿 | +126.2% |
| Debt Securities, Available-for-sale, Noncurrent | $02025-12-31 | $2900万 | -100.0% | $0 | $2900万 | -100.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$3800万 | $1.09亿 | -134.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$1100万 | $100万 | -1,200.0% |
| Deferred Income Tax Expense (Benefit) | $6100万 | $4600万 | +32.6% | -$5300万 | $1.13亿 | -146.9% |
| Deferred Income Tax Liabilities, Net | $2.56亿 | $2.46亿 | +4.2% | $1.15亿 | $1.49亿 | -22.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$400万 | $300万 | -233.3% |
| Deferred Tax Assets, Deferred Income | $7.68亿2025-12-31 | $3.09亿 | +148.5% | $7.68亿 | $3.09亿 | +148.5% |
| Deferred Tax Assets, Gross | $40.2亿2025-12-31 | $17.2亿 | +133.9% | $40.2亿 | $17.2亿 | +133.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $33.9亿2025-12-31 | $15.4亿 | +120.1% | $33.9亿 | $15.4亿 | +120.1% |
| Deferred Tax Assets, Operating Loss Carryforwards | $9.71亿2025-12-31 | $7.67亿 | +26.6% | $9.71亿 | $7.67亿 | +26.6% |
| Deferred Tax Assets, Other | $2.17亿2025-12-31 | $1.03亿 | +110.7% | $2.17亿 | $1.03亿 | +110.7% |
| Deferred Tax Assets, Valuation Allowance | $6.36亿2025-12-31 | $1.81亿 | +251.4% | $6.36亿 | $1.81亿 | +251.4% |
| Deferred Tax Liabilities, Gross | $34.9亿2025-12-31 | $16.9亿 | +106.8% | $34.9亿 | $16.9亿 | +106.8% |
| Deferred Tax Liabilities, Intangible Assets | $4600万2025-12-31 | $100万 | +4,500.0% | $4600万 | $100万 | +4,500.0% |
| Deferred Tax Liabilities, Net | $1.03亿2025-12-31 | $1.49亿 | -30.9% | $1.03亿 | $1.49亿 | -30.9% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $13.3亿2025-12-31 | $11.5亿 | +16.0% | $13.3亿 | $11.5亿 | +16.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30
数据截至 2026-11-02