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Applied Digital Corp.（APLD）与CarGurus, Inc.（CARG）财务数据对比。点击上方公司名可切换其他公司
CarGurus, Inc.的季度营收约是Applied Digital Corp.的1.7倍（$209.1M vs $126.6M）。CarGurus, Inc.净利率更高（23.8% vs -11.4%，领先35.2%）。Applied Digital Corp.同比增速更快（98.2% vs -8.5%）。CarGurus, Inc.自由现金流更多（$81.9M vs $-567.9M）。过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs -1.6%）
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。
CarGurus是一家汽车研究与选购平台，在美国、英国和加拿大开展业务，为消费者和汽车经销商提供新二手车本地车源对比服务，同时支持用户与卖家直接联系，帮助购车群体高效适配心仪车辆，也为经销商搭建了精准的客户对接渠道。
APLD vs CARG — 直观对比
营收规模更大
CARG
是对方的1.7倍
$126.6M
营收增速更快
APLD
高出106.7%
-8.5%
净利率更高
CARG
高出35.2%
-11.4%
自由现金流更多
CARG
多$649.8M
$-567.9M
两年增速更快
APLD
近两年复合增速
-1.6%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $209.1M |
| 净利润 | $-14.4M | $49.8M |
| 毛利率 | 20.6% | — |
| 营业利润率 | -24.5% | 57.0% |
| 净利率 | -11.4% | 23.8% |
| 营收同比 | 98.2% | -8.5% |
| 净利润同比 | 89.6% | 8.5% |
| 每股收益（稀释后） | $-0.07 | $0.51 |
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APLDCARG
| Q4 25 | $126.6M | $209.1M | ||
| Q3 25 | $64.2M | $238.7M | ||
| Q2 25 | $-33.3M | $234.0M | ||
| Q1 25 | $52.9M | $225.2M | ||
| Q4 24 | $63.9M | $228.5M | ||
| Q3 24 | $60.7M | $231.4M | ||
| Q2 24 | $43.7M | $218.7M | ||
| Q1 24 | $43.3M | $215.8M |
净利润APLDCARG
| Q4 25 | $-14.4M | $49.8M | ||
| Q3 25 | $-16.9M | $44.7M | ||
| Q2 25 | $-52.5M | $22.3M | ||
| Q1 25 | $-35.6M | $39.0M | ||
| Q4 24 | $-138.7M | $45.9M | ||
| Q3 24 | $-4.2M | $22.5M | ||
| Q2 24 | $-64.5M | $-68.7M | ||
| Q1 24 | $-62.8M | $21.3M |
毛利率APLDCARG
| Q4 25 | 20.6% | — | ||
| Q3 25 | 13.4% | 89.5% | ||
| Q2 25 | — | 87.3% | ||
| Q1 25 | 7.1% | 88.7% | ||
| Q4 24 | 18.0% | 87.1% | ||
| Q3 24 | -0.6% | 78.9% | ||
| Q2 24 | -9.1% | 83.4% | ||
| Q1 24 | -8.6% | 81.1% |
营业利润率APLDCARG
| Q4 25 | -24.5% | 57.0% | ||
| Q3 25 | -34.7% | 22.9% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | -35.8% | 20.3% | ||
| Q4 24 | -29.1% | 23.3% | ||
| Q3 24 | 15.6% | 11.9% | ||
| Q2 24 | -68.4% | -42.8% | ||
| Q1 24 | -128.8% | 12.2% |
净利率APLDCARG
| Q4 25 | -11.4% | 23.8% | ||
| Q3 25 | -26.4% | 18.7% | ||
| Q2 25 | 157.8% | 9.5% | ||
| Q1 25 | -67.2% | 17.3% | ||
| Q4 24 | -217.2% | 20.1% | ||
| Q3 24 | -7.0% | 9.7% | ||
| Q2 24 | -147.5% | -31.4% | ||
| Q1 24 | -145.0% | 9.9% |
每股收益（稀释后）APLDCARG
| Q4 25 | $-0.07 | $0.51 | ||
| Q3 25 | $-0.07 | $0.45 | ||
| Q2 25 | $-0.31 | $0.22 | ||
| Q1 25 | $-0.16 | $0.37 | ||
| Q4 24 | $-0.66 | $0.45 | ||
| Q3 24 | $-0.03 | $0.21 | ||
| Q2 24 | $-0.57 | $-0.66 | ||
| Q1 24 | $-0.52 | $0.20 |
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 | $190.5M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $1.4B | $374.2M |
| 总资产 | $5.2B | $661.9M |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资APLDCARG
| Q4 25 | $1.9B | $190.5M | ||
| Q3 25 | $73.9M | $178.8M | ||
| Q2 25 | $41.6M | $231.2M | ||
| Q1 25 | $68.7M | $172.9M | ||
| Q4 24 | $286.2M | $304.2M | ||
| Q3 24 | $58.2M | $246.7M | ||
| Q2 24 | $3.3M | $216.2M | ||
| Q1 24 | $4.4M | $246.3M |
总债务APLDCARG
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益APLDCARG
| Q4 25 | $1.4B | $374.2M | ||
| Q3 25 | $1.0B | $375.4M | ||
| Q2 25 | $497.7M | $435.5M | ||
| Q1 25 | $454.6M | $402.1M | ||
| Q4 24 | $434.6M | $541.7M | ||
| Q3 24 | $241.8M | $483.5M | ||
| Q2 24 | $124.8M | $452.1M | ||
| Q1 24 | $118.5M | $568.4M |
总资产APLDCARG
| Q4 25 | $5.2B | $661.9M | ||
| Q3 25 | $2.4B | $660.5M | ||
| Q2 25 | $1.9B | $726.1M | ||
| Q1 25 | $1.7B | $689.1M | ||
| Q4 24 | $1.5B | $824.5M | ||
| Q3 24 | $937.7M | $778.2M | ||
| Q2 24 | $762.9M | $753.3M | ||
| Q1 24 | $643.2M | $870.8M |
负债/权益比APLDCARG
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $83.1M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $81.9M |
| 自由现金流率自由现金流/营收 | -448.6% | 39.2% |
| 资本支出强度资本支出/营收 | 436.1% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 1.67× |
| 过去12个月自由现金流最近4个季度 | $-1.3B | $288.9M |
8季度趋势，按日历期对齐
经营现金流APLDCARG
| Q4 25 | $-15.8M | $83.1M | ||
| Q3 25 | $-82.0M | $71.2M | ||
| Q2 25 | $6.9M | $73.1M | ||
| Q1 25 | $5.9M | $67.9M | ||
| Q4 24 | $-52.3M | $75.7M | ||
| Q3 24 | $-75.9M | $56.2M | ||
| Q2 24 | $-34.1M | $71.6M | ||
| Q1 24 | $38.8M | $52.0M |
自由现金流APLDCARG
| Q4 25 | $-567.9M | $81.9M | ||
| Q3 25 | $-331.4M | $69.8M | ||
| Q2 25 | $-191.4M | $71.5M | ||
| Q1 25 | $-251.6M | $65.6M | ||
| Q4 24 | $-223.3M | $65.5M | ||
| Q3 24 | $-130.7M | $45.9M | ||
| Q2 24 | $-88.9M | $45.6M | ||
| Q1 24 | $-2.3M | $23.3M |
自由现金流率APLDCARG
| Q4 25 | -448.6% | 39.2% | ||
| Q3 25 | -516.1% | 29.2% | ||
| Q2 25 | 574.8% | 30.6% | ||
| Q1 25 | -475.4% | 29.2% | ||
| Q4 24 | -349.6% | 28.7% | ||
| Q3 24 | -215.3% | 19.8% | ||
| Q2 24 | -203.5% | 20.9% | ||
| Q1 24 | -5.4% | 10.8% |
资本支出强度APLDCARG
| Q4 25 | 436.1% | 0.6% | ||
| Q3 25 | 388.4% | 0.6% | ||
| Q2 25 | -595.4% | 0.7% | ||
| Q1 25 | 486.6% | 1.0% | ||
| Q4 24 | 267.8% | 4.5% | ||
| Q3 24 | 90.3% | 4.4% | ||
| Q2 24 | 125.4% | 11.9% | ||
| Q1 24 | 95.0% | 13.3% |
现金转化率APLDCARG
| Q4 25 | — | 1.67× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 3.27× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.65× | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.44× |
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% |
CARG
| US | $187.0M | 89% |
| Non Us | $22.1M | 11% |
