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ACACIA RESEARCH CORP（ACTG）与Digital Turbine, Inc.（APPS）财务数据对比。点击上方公司名可切换其他公司
Digital Turbine, Inc.的季度营收约是ACACIA RESEARCH CORP的3.0倍（$151.4M vs $50.1M）。ACACIA RESEARCH CORP净利率更高（6.8% vs 3.4%，领先3.4%）。Digital Turbine, Inc.同比增速更快（12.4% vs 2.6%）。过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 16.2%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
Digital Turbine是一家全球移动广告科技企业，为移动运营商、设备厂商及应用开发者提供端到端的应用变现、用户获取和定向广告解决方案，业务覆盖北美、欧洲、亚太地区，服务电信、移动科技、消费应用等多个核心领域。
ACTG vs APPS — 直观对比
营收规模更大
APPS
是对方的3.0倍
$50.1M
营收增速更快
APPS
高出9.8%
2.6%
净利率更高
ACTG
高出3.4%
3.4%
两年增速更快
ACTG
近两年复合增速
16.2%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $151.4M |
| 净利润 | $3.4M | $5.1M |
| 毛利率 | 12.8% | 57.4% |
| 营业利润率 | -26.1% | 14.3% |
| 净利率 | 6.8% | 3.4% |
| 营收同比 | 2.6% | 12.4% |
| 净利润同比 | 125.5% | 122.1% |
| 每股收益（稀释后） | $0.03 | $0.03 |
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ACTGAPPS
| Q4 25 | $50.1M | $151.4M | ||
| Q3 25 | $59.4M | $140.4M | ||
| Q2 25 | $51.2M | $130.9M | ||
| Q1 25 | $124.4M | $119.2M | ||
| Q4 24 | $48.8M | $134.6M | ||
| Q3 24 | $23.3M | $118.7M | ||
| Q2 24 | $25.8M | $118.0M | ||
| Q1 24 | $24.3M | $112.2M |
净利润ACTGAPPS
| Q4 25 | $3.4M | $5.1M | ||
| Q3 25 | $-2.7M | $-21.4M | ||
| Q2 25 | $-3.3M | $-14.1M | ||
| Q1 25 | $24.3M | $-18.8M | ||
| Q4 24 | $-13.4M | $-23.1M | ||
| Q3 24 | $-14.0M | $-25.0M | ||
| Q2 24 | $-8.4M | $-25.2M | ||
| Q1 24 | $-186.0K | $-236.5M |
毛利率ACTGAPPS
| Q4 25 | 12.8% | 57.4% | ||
| Q3 25 | 21.2% | 55.1% | ||
| Q2 25 | 12.8% | 55.6% | ||
| Q1 25 | 47.4% | 55.4% | ||
| Q4 24 | 17.6% | 48.0% | ||
| Q3 24 | 10.1% | 52.6% | ||
| Q2 24 | 26.2% | 52.7% | ||
| Q1 24 | 49.2% | 52.3% |
营业利润率ACTGAPPS
| Q4 25 | -26.1% | 14.3% | ||
| Q3 25 | -10.8% | 4.7% | ||
| Q2 25 | -24.2% | -3.6% | ||
| Q1 25 | 30.8% | -9.8% | ||
| Q4 24 | -32.4% | -9.5% | ||
| Q3 24 | -44.1% | -11.4% | ||
| Q2 24 | -18.4% | -13.6% | ||
| Q1 24 | -8.6% | -185.2% |
净利率ACTGAPPS
| Q4 25 | 6.8% | 3.4% | ||
| Q3 25 | -4.6% | -15.2% | ||
| Q2 25 | -6.4% | -10.8% | ||
| Q1 25 | 19.5% | -15.8% | ||
| Q4 24 | -27.5% | -17.2% | ||
| Q3 24 | -60.0% | -21.0% | ||
| Q2 24 | -32.7% | -21.3% | ||
| Q1 24 | -0.8% | -210.7% |
每股收益（稀释后）ACTGAPPS
| Q4 25 | $0.03 | $0.03 | ||
| Q3 25 | $-0.03 | $-0.20 | ||
| Q2 25 | $-0.03 | $-0.13 | ||
| Q1 25 | $0.25 | $-0.18 | ||
| Q4 24 | $-0.14 | $-0.22 | ||
| Q3 24 | $-0.14 | $-0.24 | ||
| Q2 24 | $-0.08 | $-0.25 | ||
| Q1 24 | $0.00 | $-2.33 |
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 | $306.7M | $40.2M |
| 总债务越低越好 | $91.9M | $355.0M |
| 股东权益账面价值 | $543.5M | $194.6M |
| 总资产 | $771.0M | $858.2M |
| 负债/权益比越低杠杆越低 | 0.17× | 1.82× |
8季度趋势，按日历期对齐
现金及短期投资ACTGAPPS
| Q4 25 | $306.7M | $40.2M | ||
| Q3 25 | $301.8M | $38.8M | ||
| Q2 25 | $316.7M | $33.4M | ||
| Q1 25 | $272.0M | $39.4M | ||
| Q4 24 | $273.9M | $34.6M | ||
| Q3 24 | $410.9M | $32.1M | ||
| Q2 24 | $441.9M | $35.0M | ||
| Q1 24 | $498.4M | $32.9M |
总债务ACTGAPPS
| Q4 25 | $91.9M | $355.0M | ||
| Q3 25 | — | $396.4M | ||
| Q2 25 | — | $400.5M | ||
| Q1 25 | — | $408.7M | ||
| Q4 24 | — | $408.2M | ||
| Q3 24 | — | $407.6M | ||
| Q2 24 | — | $393.8M | ||
| Q1 24 | — | $383.5M |
股东权益ACTGAPPS
| Q4 25 | $543.5M | $194.6M | ||
| Q3 25 | $537.6M | $148.1M | ||
| Q2 25 | $538.6M | $152.3M | ||
| Q1 25 | $540.2M | $154.0M | ||
| Q4 24 | $514.8M | $163.6M | ||
| Q3 24 | $540.2M | $182.4M | ||
| Q2 24 | $560.7M | $196.0M | ||
| Q1 24 | $568.3M | $213.9M |
总资产ACTGAPPS
| Q4 25 | $771.0M | $858.2M | ||
| Q3 25 | $768.9M | $818.7M | ||
| Q2 25 | $775.5M | $818.4M | ||
| Q1 25 | $801.6M | $812.9M | ||
| Q4 24 | $756.4M | $839.7M | ||
| Q3 24 | $707.6M | $844.5M | ||
| Q2 24 | $753.6M | $860.2M | ||
| Q1 24 | $631.7M | $865.5M |
负债/权益比ACTGAPPS
| Q4 25 | 0.17× | 1.82× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 2.63× | ||
| Q1 25 | — | 2.65× | ||
| Q4 24 | — | 2.50× | ||
| Q3 24 | — | 2.24× | ||
| Q2 24 | — | 2.01× | ||
| Q1 24 | — | 1.79× |
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 | $13.2M | $14.2M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.85× | 2.78× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ACTGAPPS
| Q4 25 | $13.2M | $14.2M | ||
| Q3 25 | $9.5M | $14.5M | ||
| Q2 25 | $50.1M | $8.8M | ||
| Q1 25 | $2.4M | $11.5M | ||
| Q4 24 | $-20.3M | $10.4M | ||
| Q3 24 | $-593.0K | $-8.7M | ||
| Q2 24 | $16.1M | $-1.4M | ||
| Q1 24 | $54.8M | $-11.8M |
自由现金流ACTGAPPS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $335.0K | — | ||
| Q4 24 | $-23.6M | — | ||
| Q3 24 | $-2.8M | — | ||
| Q2 24 | $-126.7M | — | ||
| Q1 24 | $54.6M | — |
自由现金流率ACTGAPPS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | -48.2% | — | ||
| Q3 24 | -12.1% | — | ||
| Q2 24 | -490.5% | — | ||
| Q1 24 | 224.4% | — |
资本支出强度ACTGAPPS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | 9.6% | — | ||
| Q2 24 | 553.0% | — | ||
| Q1 24 | 1.1% | — |
现金转化率ACTGAPPS
| Q4 25 | 3.85× | 2.78× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
APPS
| On Device Solutions | $99.6M | 66% |
| App Growth Platform | $52.6M | 35% |
