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Acadia Healthcare Company, Inc.（ACHC）与AppLovin Corp（APP）财务数据对比。点击上方公司名可切换其他公司
AppLovin Corp的季度营收约是Acadia Healthcare Company, Inc.的1.6倍（$1.3B vs $821.5M），AppLovin Corp净利率更高（82.7% vs -143.3%，领先226.0%），Acadia Healthcare Company, Inc.同比增速更快（6.1% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 3.4%）
阿卡迪亚医疗公司是美国的营利性行为医疗健康服务提供商，目前在美国及波多黎各地区运营着超过225家医疗机构，搭建了覆盖广泛的行为健康服务网络，为有相关需求的人群提供专业的心理健康与行为干预服务。
AppLovin是总部位于美国加利福尼亚州帕洛阿尔托的移动科技公司，成立于2012年，旗下拥有SSP MAX、DSP AppDiscovery营销平台及SparkLabs创意工作室，可为开发者提供应用推广、变现、分析及发行服务，同时也对多家移动游戏发行商开展投资。
ACHC vs APP — 直观对比
营收规模更大
APP
是对方的1.6倍
$821.5M
营收增速更快
ACHC
高出9.0%
-2.9%
净利率更高
APP
高出226.0%
-143.3%
两年增速更快
APP
近两年复合增速
3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $821.5M | $1.3B |
| 净利润 | $-1.2B | $1.1B |
| 毛利率 | — | 95.2% |
| 营业利润率 | -142.4% | — |
| 净利率 | -143.3% | 82.7% |
| 营收同比 | 6.1% | -2.9% |
| 净利润同比 | -3710.4% | 84.0% |
| 每股收益（稀释后） | $-12.98 | $3.24 |
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ACHCAPP
| Q4 25 | $821.5M | $1.3B | ||
| Q3 25 | $851.6M | $1.4B | ||
| Q2 25 | $869.2M | $1.3B | ||
| Q1 25 | $770.5M | $1.5B | ||
| Q4 24 | $774.2M | $1.4B | ||
| Q3 24 | $815.6M | $1.2B | ||
| Q2 24 | $796.0M | $1.1B | ||
| Q1 24 | $768.1M | $1.1B |
净利润ACHCAPP
| Q4 25 | $-1.2B | $1.1B | ||
| Q3 25 | $36.2M | $835.5M | ||
| Q2 25 | $30.1M | $819.5M | ||
| Q1 25 | $8.4M | $576.4M | ||
| Q4 24 | $32.6M | $599.2M | ||
| Q3 24 | $68.1M | $434.4M | ||
| Q2 24 | $78.5M | $310.0M | ||
| Q1 24 | $76.4M | $236.2M |
毛利率ACHCAPP
| Q4 25 | — | 95.2% | ||
| Q3 25 | — | 87.6% | ||
| Q2 25 | — | 87.7% | ||
| Q1 25 | — | 81.7% | ||
| Q4 24 | — | 76.7% | ||
| Q3 24 | — | 77.5% | ||
| Q2 24 | — | 73.8% | ||
| Q1 24 | — | 72.2% |
营业利润率ACHCAPP
| Q4 25 | -142.4% | — | ||
| Q3 25 | 4.7% | 76.8% | ||
| Q2 25 | 5.8% | 76.1% | ||
| Q1 25 | 1.7% | 44.7% | ||
| Q4 24 | 4.9% | 44.3% | ||
| Q3 24 | 12.1% | 44.6% | ||
| Q2 24 | 13.4% | 36.2% | ||
| Q1 24 | 12.9% | 32.1% |
净利率ACHCAPP
| Q4 25 | -143.3% | 82.7% | ||
| Q3 25 | 4.3% | 59.5% | ||
| Q2 25 | 3.5% | 65.1% | ||
| Q1 25 | 1.1% | 38.8% | ||
| Q4 24 | 4.2% | 43.6% | ||
| Q3 24 | 8.4% | 36.3% | ||
| Q2 24 | 9.9% | 28.7% | ||
| Q1 24 | 9.9% | 22.3% |
每股收益（稀释后）ACHCAPP
| Q4 25 | $-12.98 | $3.24 | ||
| Q3 25 | $0.40 | $2.45 | ||
| Q2 25 | $0.33 | $2.39 | ||
| Q1 25 | $0.09 | $1.67 | ||
| Q4 24 | $0.36 | $1.72 | ||
| Q3 24 | $0.74 | $1.25 | ||
| Q2 24 | $0.85 | $0.89 | ||
| Q1 24 | $0.83 | $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 | $133.2M | $2.5B |
| 总债务越低越好 | $2.5B | $3.5B |
| 股东权益账面价值 | $1.9B | $2.1B |
| 总资产 | $5.5B | $7.3B |
| 负债/权益比越低杠杆越低 | 1.28× | 1.65× |
8季度趋势，按日历期对齐
现金及短期投资ACHCAPP
| Q4 25 | $133.2M | $2.5B | ||
| Q3 25 | $118.7M | $1.7B | ||
| Q2 25 | $131.4M | $1.2B | ||
| Q1 25 | $91.2M | $551.0M | ||
| Q4 24 | $76.3M | $741.4M | ||
| Q3 24 | $82.1M | $567.6M | ||
| Q2 24 | $77.2M | $460.4M | ||
| Q1 24 | $77.3M | $436.3M |
总债务ACHCAPP
| Q4 25 | $2.5B | $3.5B | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.0B | $3.5B | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.9B | — |
股东权益ACHCAPP
| Q4 25 | $1.9B | $2.1B | ||
| Q3 25 | $3.1B | $1.5B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.0B | $575.4M | ||
| Q4 24 | $3.1B | $1.1B | ||
| Q3 24 | $3.0B | $938.2M | ||
| Q2 24 | $3.0B | $814.8M | ||
| Q1 24 | $2.9B | $760.2M |
总资产ACHCAPP
| Q4 25 | $5.5B | $7.3B | ||
| Q3 25 | $6.4B | $6.3B | ||
| Q2 25 | $6.3B | $6.0B | ||
| Q1 25 | $6.1B | $5.7B | ||
| Q4 24 | $6.0B | $5.9B | ||
| Q3 24 | $5.9B | $5.4B | ||
| Q2 24 | $5.7B | $5.3B | ||
| Q1 24 | $5.5B | $5.3B |
负债/权益比ACHCAPP
| Q4 25 | 1.28× | 1.65× | ||
| Q3 25 | 0.74× | — | ||
| Q2 25 | 0.74× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.64× | 3.22× | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.65× | — |
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 | $-86.3M | $1.3B |
| 自由现金流经营现金流 - 资本支出 | $-179.5M | — |
| 自由现金流率自由现金流/营收 | -21.8% | — |
| 资本支出强度资本支出/营收 | 11.3% | — |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | $-439.9M | — |
8季度趋势，按日历期对齐
经营现金流ACHCAPP
| Q4 25 | $-86.3M | $1.3B | ||
| Q3 25 | $73.2M | $1.1B | ||
| Q2 25 | $133.5M | $772.2M | ||
| Q1 25 | $11.5M | $831.7M | ||
| Q4 24 | $116.7M | $701.0M | ||
| Q3 24 | $163.1M | $550.7M | ||
| Q2 24 | $171.1M | $454.5M | ||
| Q1 24 | $-321.3M | $392.8M |
自由现金流ACHCAPP
| Q4 25 | $-179.5M | — | ||
| Q3 25 | $-63.0M | — | ||
| Q2 25 | $-34.2M | — | ||
| Q1 25 | $-163.2M | — | ||
| Q4 24 | $-86.8M | — | ||
| Q3 24 | $-27.1M | — | ||
| Q2 24 | $16.9M | — | ||
| Q1 24 | $-463.7M | — |
自由现金流率ACHCAPP
| Q4 25 | -21.8% | — | ||
| Q3 25 | -7.4% | — | ||
| Q2 25 | -3.9% | — | ||
| Q1 25 | -21.2% | — | ||
| Q4 24 | -11.2% | — | ||
| Q3 24 | -3.3% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | -60.4% | — |
资本支出强度ACHCAPP
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.0% | — | ||
| Q2 25 | 19.3% | — | ||
| Q1 25 | 22.7% | — | ||
| Q4 24 | 26.3% | — | ||
| Q3 24 | 23.3% | — | ||
| Q2 24 | 19.4% | — | ||
| Q1 24 | 18.5% | — |
现金转化率ACHCAPP
| Q4 25 | — | 1.19× | ||
| Q3 25 | 2.02× | 1.26× | ||
| Q2 25 | 4.43× | 0.94× | ||
| Q1 25 | 1.37× | 1.44× | ||
| Q4 24 | 3.58× | 1.17× | ||
| Q3 24 | 2.39× | 1.27× | ||
| Q2 24 | 2.18× | 1.47× | ||
| Q1 24 | -4.21× | 1.66× |
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
ACHC
| Acute Inpatient Psychiatric Facilities | $451.2M | 55% |
| Comprehensive Treatment Centers | $144.2M | 18% |
| Medicare | $113.7M | 14% |
| Residential Treatment Centers | $89.7M | 11% |
| Self Payor | $16.1M | 2% |
| Other Payor | $10.7M | 1% |
APP
| Other | $673.9M | 51% |
| US | $659.0M | 49% |
