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Applied Digital Corp.（APLD）与Autohome Inc.（ATHM）财务数据对比。点击上方公司名可切换其他公司
Autohome Inc.的季度营收约是Applied Digital Corp.的2.0倍（$249.8M vs $126.6M）。Autohome Inc.净利率更高（23.8% vs -11.4%，领先35.2%）。过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs -0.6%）
BAE系统旗下的国际防务与安全技术企业，专注于提供数字化解决方案，支持客户快速开展数据驱动决策，服务覆盖执法机构、国家安全部门、政府单位、关键基础设施运营商、电信企业、军方及航天领域。
Autohome Inc. 是曾经的高速有线互联网服务提供商，运营于1996年至2002年。由米洛·梅丁与电信通讯公司（TCI）、康卡斯特、考克斯通信，以及首任CEO威廉·伦道夫·赫斯特三世共同创立，是通过双向有线电视基础设施提供高速上网服务的合资企业，巅峰时期为美国、加拿大、日本、澳大利亚等地的410万用户提供服务。
APLD vs ATHM — 直观对比
营收规模更大
ATHM
是对方的2.0倍
$126.6M
净利率更高
ATHM
高出35.2%
-11.4%
两年增速更快
APLD
近两年复合增速
-0.6%
损益表 — Q2 2026 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $249.8M |
| 净利润 | $-14.4M | $59.4M |
| 毛利率 | 20.6% | 63.7% |
| 营业利润率 | -24.5% | 8.3% |
| 净利率 | -11.4% | 23.8% |
| 营收同比 | 98.2% | — |
| 净利润同比 | 89.6% | — |
| 每股收益（稀释后） | $-0.07 | — |
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APLDATHM
| Q4 25 | $126.6M | — | ||
| Q3 25 | $64.2M | $249.8M | ||
| Q2 25 | $-33.3M | $245.4M | ||
| Q1 25 | $52.9M | $244.3M | ||
| Q4 24 | $63.9M | — | ||
| Q3 24 | $60.7M | $252.9M | ||
| Q2 24 | $43.7M | $257.7M | ||
| Q1 24 | $43.3M | $222.9M |
净利润APLDATHM
| Q4 25 | $-14.4M | — | ||
| Q3 25 | $-16.9M | $59.4M | ||
| Q2 25 | $-52.5M | $56.0M | ||
| Q1 25 | $-35.6M | — | ||
| Q4 24 | $-138.7M | — | ||
| Q3 24 | $-4.2M | $61.0M | ||
| Q2 24 | $-64.5M | $69.3M | ||
| Q1 24 | $-62.8M | $52.4M |
毛利率APLDATHM
| Q4 25 | 20.6% | — | ||
| Q3 25 | 13.4% | 63.7% | ||
| Q2 25 | — | 71.4% | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -0.6% | 77.0% | ||
| Q2 24 | -9.1% | 81.5% | ||
| Q1 24 | -8.6% | 81.3% |
营业利润率APLDATHM
| Q4 25 | -24.5% | — | ||
| Q3 25 | -34.7% | 8.3% | ||
| Q2 25 | — | 16.9% | ||
| Q1 25 | -35.8% | 13.0% | ||
| Q4 24 | -29.1% | — | ||
| Q3 24 | 15.6% | 4.7% | ||
| Q2 24 | -68.4% | 22.0% | ||
| Q1 24 | -128.8% | 17.2% |
净利率APLDATHM
| Q4 25 | -11.4% | — | ||
| Q3 25 | -26.4% | 23.8% | ||
| Q2 25 | 157.8% | 22.8% | ||
| Q1 25 | -67.2% | — | ||
| Q4 24 | -217.2% | — | ||
| Q3 24 | -7.0% | 24.1% | ||
| Q2 24 | -147.5% | 26.9% | ||
| Q1 24 | -145.0% | 23.5% |
每股收益（稀释后）APLDATHM
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $-0.31 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.66 | — | ||
| Q3 24 | $-0.03 | — | ||
| Q2 24 | $-0.57 | — | ||
| Q1 24 | $-0.52 | — |
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 | $1.9B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | — |
| 总资产 | $5.2B | — |
| 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APLDATHM
| Q4 25 | $1.9B | — | ||
| Q3 25 | $73.9M | — | ||
| Q2 25 | $41.6M | — | ||
| Q1 25 | $68.7M | — | ||
| Q4 24 | $286.2M | — | ||
| Q3 24 | $58.2M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $4.4M | — |
股东权益APLDATHM
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $497.7M | — | ||
| Q1 25 | $454.6M | — | ||
| Q4 24 | $434.6M | — | ||
| Q3 24 | $241.8M | — | ||
| Q2 24 | $124.8M | — | ||
| Q1 24 | $118.5M | — |
总资产APLDATHM
| Q4 25 | $5.2B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $937.7M | — | ||
| Q2 24 | $762.9M | — | ||
| Q1 24 | $643.2M | — |
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 | $-15.8M | — |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | — |
| 自由现金流率自由现金流/营收 | -448.6% | — |
| 资本支出强度资本支出/营收 | 436.1% | — |
| 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 | $-1.3B | — |
8季度趋势，按日历期对齐
经营现金流APLDATHM
| Q4 25 | $-15.8M | — | ||
| Q3 25 | $-82.0M | — | ||
| Q2 25 | $6.9M | — | ||
| Q1 25 | $5.9M | — | ||
| Q4 24 | $-52.3M | — | ||
| Q3 24 | $-75.9M | — | ||
| Q2 24 | $-34.1M | — | ||
| Q1 24 | $38.8M | — |
自由现金流APLDATHM
| Q4 25 | $-567.9M | — | ||
| Q3 25 | $-331.4M | — | ||
| Q2 25 | $-191.4M | — | ||
| Q1 25 | $-251.6M | — | ||
| Q4 24 | $-223.3M | — | ||
| Q3 24 | $-130.7M | — | ||
| Q2 24 | $-88.9M | — | ||
| Q1 24 | $-2.3M | — |
自由现金流率APLDATHM
| Q4 25 | -448.6% | — | ||
| Q3 25 | -516.1% | — | ||
| Q2 25 | 574.8% | — | ||
| Q1 25 | -475.4% | — | ||
| Q4 24 | -349.6% | — | ||
| Q3 24 | -215.3% | — | ||
| Q2 24 | -203.5% | — | ||
| Q1 24 | -5.4% | — |
资本支出强度APLDATHM
| Q4 25 | 436.1% | — | ||
| Q3 25 | 388.4% | — | ||
| Q2 25 | -595.4% | — | ||
| Q1 25 | 486.6% | — | ||
| Q4 24 | 267.8% | — | ||
| Q3 24 | 90.3% | — | ||
| Q2 24 | 125.4% | — | ||
| Q1 24 | 95.0% | — |
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
APLD
| HPC Hosting Business | $85.0M | 67% |
| Data Center Hosting Business | $41.6M | 33% |
ATHM
| Online marketplace and others | $114.7M | 46% |
| Leads generation services | $93.2M | 37% |
| Media services | $41.9M | 17% |
