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Applied Digital Corp.（APLD）与百胜餐饮集团（LCUT）财务数据对比。点击上方公司名可切换其他公司
百胜餐饮集团的季度营收约是Applied Digital Corp.的1.6倍（$204.1M vs $126.6M），百胜餐饮集团净利率更高（8.9% vs -11.4%，领先20.3%），Applied Digital Corp.同比增速更快（98.2% vs -5.2%），百胜餐饮集团自由现金流更多（$2.6M vs $-567.9M），过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs 19.8%）
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。
百胜餐饮集团是美国跨国快餐企业，1977年百事可乐收购肯德基、必胜客、塔可Bell后将其整合为旗下子公司，1997年百事剥离该业务板块后正式独立为百胜集团。集团目前运营肯德基、必胜客、塔可Bell、哈比特汉堡等多个餐饮品牌，同时布局相关餐饮科技业务，门店网络遍布全球多个国家和地区。
APLD vs LCUT — 直观对比
营收规模更大
LCUT
是对方的1.6倍
$126.6M
营收增速更快
APLD
高出103.4%
-5.2%
净利率更高
LCUT
高出20.3%
-11.4%
自由现金流更多
LCUT
多$570.5M
$-567.9M
两年增速更快
APLD
近两年复合增速
19.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $204.1M |
| 净利润 | $-14.4M | $18.2M |
| 毛利率 | 20.6% | 38.6% |
| 营业利润率 | -24.5% | 9.8% |
| 净利率 | -11.4% | 8.9% |
| 营收同比 | 98.2% | -5.2% |
| 净利润同比 | 89.6% | 103.5% |
| 每股收益（稀释后） | $-0.07 | $0.83 |
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APLDLCUT
| Q4 25 | $126.6M | $204.1M | ||
| Q3 25 | $64.2M | $171.9M | ||
| Q2 25 | $-33.3M | $131.9M | ||
| Q1 25 | $52.9M | $140.1M | ||
| Q4 24 | $63.9M | $215.2M | ||
| Q3 24 | $60.7M | $183.8M | ||
| Q2 24 | $43.7M | $141.7M | ||
| Q1 24 | $43.3M | $142.2M |
净利润APLDLCUT
| Q4 25 | $-14.4M | $18.2M | ||
| Q3 25 | $-16.9M | $-1.2M | ||
| Q2 25 | $-52.5M | $-39.7M | ||
| Q1 25 | $-35.6M | $-4.2M | ||
| Q4 24 | $-138.7M | $8.9M | ||
| Q3 24 | $-4.2M | $344.0K | ||
| Q2 24 | $-64.5M | $-18.2M | ||
| Q1 24 | $-62.8M | $-6.3M |
毛利率APLDLCUT
| Q4 25 | 20.6% | 38.6% | ||
| Q3 25 | 13.4% | 35.1% | ||
| Q2 25 | — | 38.6% | ||
| Q1 25 | 7.1% | 36.1% | ||
| Q4 24 | 18.0% | 37.7% | ||
| Q3 24 | -0.6% | 36.7% | ||
| Q2 24 | -9.1% | 38.5% | ||
| Q1 24 | -8.6% | 40.5% |
营业利润率APLDLCUT
| Q4 25 | -24.5% | 9.8% | ||
| Q3 25 | -34.7% | 3.9% | ||
| Q2 25 | — | -28.2% | ||
| Q1 25 | -35.8% | 0.8% | ||
| Q4 24 | -29.1% | 7.2% | ||
| Q3 24 | 15.6% | 4.7% | ||
| Q2 24 | -68.4% | 0.8% | ||
| Q1 24 | -128.8% | 1.3% |
净利率APLDLCUT
| Q4 25 | -11.4% | 8.9% | ||
| Q3 25 | -26.4% | -0.7% | ||
| Q2 25 | 157.8% | -30.1% | ||
| Q1 25 | -67.2% | -3.0% | ||
| Q4 24 | -217.2% | 4.1% | ||
| Q3 24 | -7.0% | 0.2% | ||
| Q2 24 | -147.5% | -12.8% | ||
| Q1 24 | -145.0% | -4.4% |
每股收益（稀释后）APLDLCUT
| Q4 25 | $-0.07 | $0.83 | ||
| Q3 25 | $-0.07 | $-0.05 | ||
| Q2 25 | $-0.31 | $-1.83 | ||
| Q1 25 | $-0.16 | $-0.19 | ||
| Q4 24 | $-0.66 | $0.41 | ||
| Q3 24 | $-0.03 | $0.02 | ||
| Q2 24 | $-0.57 | $-0.85 | ||
| Q1 24 | $-0.52 | $-0.29 |
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 | $4.3M |
| 总债务越低越好 | — | $135.0M |
| 股东权益账面价值 | $1.4B | $202.3M |
| 总资产 | $5.2B | $572.6M |
| 负债/权益比越低杠杆越低 | — | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资APLDLCUT
| Q4 25 | $1.9B | $4.3M | ||
| Q3 25 | $73.9M | $12.1M | ||
| Q2 25 | $41.6M | $12.0M | ||
| Q1 25 | $68.7M | $10.4M | ||
| Q4 24 | $286.2M | $2.9M | ||
| Q3 24 | $58.2M | $6.0M | ||
| Q2 24 | $3.3M | $3.4M | ||
| Q1 24 | $4.4M | $4.6M |
总债务APLDLCUT
| Q4 25 | — | $135.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $142.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APLDLCUT
| Q4 25 | $1.4B | $202.3M | ||
| Q3 25 | $1.0B | $184.6M | ||
| Q2 25 | $497.7M | $185.8M | ||
| Q1 25 | $454.6M | $225.7M | ||
| Q4 24 | $434.6M | $229.9M | ||
| Q3 24 | $241.8M | $220.9M | ||
| Q2 24 | $124.8M | $219.8M | ||
| Q1 24 | $118.5M | $223.7M |
总资产APLDLCUT
| Q4 25 | $5.2B | $572.6M | ||
| Q3 25 | $2.4B | $581.1M | ||
| Q2 25 | $1.9B | $551.9M | ||
| Q1 25 | $1.7B | $594.6M | ||
| Q4 24 | $1.5B | $634.3M | ||
| Q3 24 | $937.7M | $668.7M | ||
| Q2 24 | $762.9M | $617.0M | ||
| Q1 24 | $643.2M | $602.7M |
负债/权益比APLDLCUT
| Q4 25 | — | 0.67× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $3.7M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $2.6M |
| 自由现金流率自由现金流/营收 | -448.6% | 1.3% |
| 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 | — | 0.21× |
| 过去12个月自由现金流最近4个季度 | $-1.3B | $3.3M |
8季度趋势，按日历期对齐
经营现金流APLDLCUT
| Q4 25 | $-15.8M | $3.7M | ||
| Q3 25 | $-82.0M | $-22.2M | ||
| Q2 25 | $6.9M | $9.3M | ||
| Q1 25 | $5.9M | $16.7M | ||
| Q4 24 | $-52.3M | $20.3M | ||
| Q3 24 | $-75.9M | $-22.7M | ||
| Q2 24 | $-34.1M | $10.4M | ||
| Q1 24 | $38.8M | $10.5M |
自由现金流APLDLCUT
| Q4 25 | $-567.9M | $2.6M | ||
| Q3 25 | $-331.4M | $-22.7M | ||
| Q2 25 | $-191.4M | $8.2M | ||
| Q1 25 | $-251.6M | $15.1M | ||
| Q4 24 | $-223.3M | $19.7M | ||
| Q3 24 | $-130.7M | $-23.2M | ||
| Q2 24 | $-88.9M | $9.9M | ||
| Q1 24 | $-2.3M | $9.9M |
自由现金流率APLDLCUT
| Q4 25 | -448.6% | 1.3% | ||
| Q3 25 | -516.1% | -13.2% | ||
| Q2 25 | 574.8% | 6.2% | ||
| Q1 25 | -475.4% | 10.8% | ||
| Q4 24 | -349.6% | 9.1% | ||
| Q3 24 | -215.3% | -12.6% | ||
| Q2 24 | -203.5% | 7.0% | ||
| Q1 24 | -5.4% | 7.0% |
资本支出强度APLDLCUT
| Q4 25 | 436.1% | 0.6% | ||
| Q3 25 | 388.4% | 0.3% | ||
| Q2 25 | -595.4% | 0.9% | ||
| Q1 25 | 486.6% | 1.1% | ||
| Q4 24 | 267.8% | 0.3% | ||
| Q3 24 | 90.3% | 0.3% | ||
| Q2 24 | 125.4% | 0.4% | ||
| Q1 24 | 95.0% | 0.4% |
现金转化率APLDLCUT
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.28× | ||
| Q3 24 | — | -65.89× | ||
| 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
APLD
| HPC Hosting Business | $85.0M | 67% |
| Data Center Hosting Business | $41.6M | 33% |
LCUT
| Kitchenware | $114.3M | 56% |
| Tableware | $41.7M | 20% |
| Home Solutions | $29.4M | 14% |
| Other | $18.8M | 9% |
