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Applied Digital Corp.（APLD）与MP Materials Corp.（MP）财务数据对比。点击上方公司名可切换其他公司
Applied Digital Corp.的季度营收约是MP Materials Corp.的1.4倍（$126.6M vs $90.6M），MP Materials Corp.净利率更高（-8.8% vs -11.4%，领先2.6%），Applied Digital Corp.同比增速更快（98.2% vs 49.1%），过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs 70.3%）
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。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
APLD vs MP — 直观对比
营收规模更大
APLD
是对方的1.4倍
$90.6M
营收增速更快
APLD
高出49.1%
49.1%
净利率更高
MP
高出2.6%
-11.4%
两年增速更快
APLD
近两年复合增速
70.3%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $90.6M |
| 净利润 | $-14.4M | $-8.0M |
| 毛利率 | 20.6% | — |
| 营业利润率 | -24.5% | — |
| 净利率 | -11.4% | -8.8% |
| 营收同比 | 98.2% | 49.1% |
| 净利润同比 | 89.6% | 64.8% |
| 每股收益（稀释后） | $-0.07 | $-0.04 |
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APLDMP
| Q1 26 | — | $90.6M | ||
| Q4 25 | $126.6M | $52.7M | ||
| Q3 25 | $64.2M | $53.6M | ||
| Q2 25 | $-33.3M | $57.4M | ||
| Q1 25 | $52.9M | $60.8M | ||
| Q4 24 | $63.9M | $61.0M | ||
| Q3 24 | $60.7M | $62.9M | ||
| Q2 24 | $43.7M | $31.3M |
净利润APLDMP
| Q1 26 | — | $-8.0M | ||
| Q4 25 | $-14.4M | $9.4M | ||
| Q3 25 | $-16.9M | $-41.8M | ||
| Q2 25 | $-52.5M | $-30.9M | ||
| Q1 25 | $-35.6M | $-22.6M | ||
| Q4 24 | $-138.7M | $-22.3M | ||
| Q3 24 | $-4.2M | $-25.5M | ||
| Q2 24 | $-64.5M | $-34.1M |
毛利率APLDMP
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | -9.1% | — |
营业利润率APLDMP
| Q1 26 | — | — | ||
| Q4 25 | -24.5% | -7.0% | ||
| Q3 25 | -34.7% | -125.2% | ||
| Q2 25 | — | -76.5% | ||
| Q1 25 | -35.8% | -57.2% | ||
| Q4 24 | -29.1% | -72.1% | ||
| Q3 24 | 15.6% | -62.8% | ||
| Q2 24 | -68.4% | -171.1% |
净利率APLDMP
| Q1 26 | — | -8.8% | ||
| Q4 25 | -11.4% | 17.9% | ||
| Q3 25 | -26.4% | -78.0% | ||
| Q2 25 | 157.8% | -53.8% | ||
| Q1 25 | -67.2% | -37.2% | ||
| Q4 24 | -217.2% | -36.6% | ||
| Q3 24 | -7.0% | -40.5% | ||
| Q2 24 | -147.5% | -108.9% |
每股收益（稀释后）APLDMP
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $-0.07 | $0.07 | ||
| Q3 25 | $-0.07 | $-0.24 | ||
| Q2 25 | $-0.31 | $-0.19 | ||
| Q1 25 | $-0.16 | $-0.14 | ||
| Q4 24 | $-0.66 | $-0.12 | ||
| Q3 24 | $-0.03 | $-0.16 | ||
| Q2 24 | $-0.57 | $-0.21 |
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 | $1.7B |
| 总债务越低越好 | — | $1.0B |
| 股东权益账面价值 | $1.4B | $2.0B |
| 总资产 | $5.2B | $3.8B |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资APLDMP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $73.9M | $1.1B | ||
| Q2 25 | $41.6M | $261.5M | ||
| Q1 25 | $68.7M | $198.3M | ||
| Q4 24 | $286.2M | $282.4M | ||
| Q3 24 | $58.2M | $284.4M | ||
| Q2 24 | $3.3M | $295.6M |
总债务APLDMP
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | $998.7M | ||
| Q3 25 | — | $997.3M | ||
| Q2 25 | — | $910.8M | ||
| Q1 25 | — | $909.8M | ||
| Q4 24 | — | $908.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APLDMP
| Q1 26 | — | $2.0B | ||
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.0B | $2.0B | ||
| Q2 25 | $497.7M | $1.0B | ||
| Q1 25 | $454.6M | $1.0B | ||
| Q4 24 | $434.6M | $1.1B | ||
| Q3 24 | $241.8M | $1.1B | ||
| Q2 24 | $124.8M | $1.1B |
总资产APLDMP
| Q1 26 | — | $3.8B | ||
| Q4 25 | $5.2B | $3.9B | ||
| Q3 25 | $2.4B | $3.8B | ||
| Q2 25 | $1.9B | $2.3B | ||
| Q1 25 | $1.7B | $2.4B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $937.7M | $2.3B | ||
| Q2 24 | $762.9M | $2.4B |
负债/权益比APLDMP
| Q1 26 | — | 0.51× | ||
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | — | ||
| Q2 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 | $-1.9M |
| 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APLDMP
| Q1 26 | — | $-1.9M | ||
| Q4 25 | $-15.8M | $-46.9M | ||
| Q3 25 | $-82.0M | $-42.0M | ||
| Q2 25 | $6.9M | $-3.7M | ||
| Q1 25 | $5.9M | $-63.2M | ||
| Q4 24 | $-52.3M | $30.5M | ||
| Q3 24 | $-75.9M | $-6.8M | ||
| Q2 24 | $-34.1M | $30.8M |
自由现金流APLDMP
| Q1 26 | — | — | ||
| Q4 25 | $-567.9M | $-109.3M | ||
| Q3 25 | $-331.4M | $-92.5M | ||
| Q2 25 | $-191.4M | $-32.7M | ||
| Q1 25 | $-251.6M | $-93.7M | ||
| Q4 24 | $-223.3M | $-11.2M | ||
| Q3 24 | $-130.7M | $-53.3M | ||
| Q2 24 | $-88.9M | $-15.6M |
自由现金流率APLDMP
| Q1 26 | — | — | ||
| Q4 25 | -448.6% | -207.4% | ||
| Q3 25 | -516.1% | -172.8% | ||
| Q2 25 | 574.8% | -56.9% | ||
| Q1 25 | -475.4% | -154.0% | ||
| Q4 24 | -349.6% | -18.3% | ||
| Q3 24 | -215.3% | -84.7% | ||
| Q2 24 | -203.5% | -50.1% |
资本支出强度APLDMP
| Q1 26 | — | — | ||
| Q4 25 | 436.1% | 118.5% | ||
| Q3 25 | 388.4% | 94.3% | ||
| Q2 25 | -595.4% | 50.5% | ||
| Q1 25 | 486.6% | 50.1% | ||
| Q4 24 | 267.8% | 68.3% | ||
| Q3 24 | 90.3% | 73.8% | ||
| Q2 24 | 125.4% | 148.7% |
现金转化率APLDMP
| Q1 26 | — | — | ||
| Q4 25 | — | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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% |
MP
| Materials Segment | $72.2M | 80% |
| Magnetics Segment | $21.1M | 23% |
