vs
Applied Digital Corp.（APLD）与D-Wave Quantum Inc.（QBTS）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D-Wave Quantum Inc.的46.0倍（$126.6M vs $2.8M）。Applied Digital Corp.净利率更高（-11.4% vs -1538.0%，领先1526.6%）。Applied Digital Corp.同比增速更快（98.2% vs 19.2%）。D-Wave Quantum Inc.自由现金流更多（$-20.0M vs $-567.9M）。过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs 5.7%）
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。
D-Wave量子公司是专注量子计算领域的科技企业，在美国加利福尼亚州帕洛阿尔托、加拿大不列颠哥伦比亚省本拿比均设有办公点。该公司自称是全球首家销售基于量子效应运行的计算机的企业，客户包括洛克希德·马丁、南加州大学、谷歌与NASA联合项目、洛斯阿拉莫斯国家实验室等。
APLD vs QBTS — 直观对比
营收规模更大
APLD
是对方的46.0倍
$2.8M
营收增速更快
APLD
高出79.0%
19.2%
净利率更高
APLD
高出1526.6%
-1538.0%
自由现金流更多
QBTS
多$547.9M
$-567.9M
两年增速更快
APLD
近两年复合增速
5.7%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $2.8M |
| 净利润 | $-14.4M | $-42.3M |
| 毛利率 | 20.6% | 64.8% |
| 营业利润率 | -24.5% | -1266.0% |
| 净利率 | -11.4% | -1538.0% |
| 营收同比 | 98.2% | 19.2% |
| 净利润同比 | 89.6% | 50.8% |
| 每股收益（稀释后） | $-0.07 | $-0.13 |
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APLDQBTS
| Q4 25 | $126.6M | $2.8M | ||
| Q3 25 | $64.2M | $3.7M | ||
| Q2 25 | $-33.3M | $3.1M | ||
| Q1 25 | $52.9M | $15.0M | ||
| Q4 24 | $63.9M | $2.3M | ||
| Q3 24 | $60.7M | $1.9M | ||
| Q2 24 | $43.7M | $2.2M | ||
| Q1 24 | $43.3M | $2.5M |
净利润APLDQBTS
| Q4 25 | $-14.4M | $-42.3M | ||
| Q3 25 | $-16.9M | $-140.0M | ||
| Q2 25 | $-52.5M | $-167.3M | ||
| Q1 25 | $-35.6M | $-5.4M | ||
| Q4 24 | $-138.7M | $-86.1M | ||
| Q3 24 | $-4.2M | $-22.7M | ||
| Q2 24 | $-64.5M | $-17.8M | ||
| Q1 24 | $-62.8M | $-17.3M |
毛利率APLDQBTS
| Q4 25 | 20.6% | 64.8% | ||
| Q3 25 | 13.4% | 71.4% | ||
| Q2 25 | — | 63.8% | ||
| Q1 25 | 7.1% | 92.5% | ||
| Q4 24 | 18.0% | 63.8% | ||
| Q3 24 | -0.6% | 55.8% | ||
| Q2 24 | -9.1% | 63.6% | ||
| Q1 24 | -8.6% | 67.3% |
营业利润率APLDQBTS
| Q4 25 | -24.5% | -1266.0% | ||
| Q3 25 | -34.7% | -741.8% | ||
| Q2 25 | — | -856.3% | ||
| Q1 25 | -35.8% | -75.3% | ||
| Q4 24 | -29.1% | -876.2% | ||
| Q3 24 | 15.6% | -1103.5% | ||
| Q2 24 | -68.4% | -863.0% | ||
| Q1 24 | -128.8% | -710.6% |
净利率APLDQBTS
| Q4 25 | -11.4% | -1538.0% | ||
| Q3 25 | -26.4% | -3743.9% | ||
| Q2 25 | 157.8% | -5406.4% | ||
| Q1 25 | -67.2% | -36.1% | ||
| Q4 24 | -217.2% | -3727.9% | ||
| Q3 24 | -7.0% | -1214.5% | ||
| Q2 24 | -147.5% | -814.4% | ||
| Q1 24 | -145.0% | -702.3% |
每股收益（稀释后）APLDQBTS
| Q4 25 | $-0.07 | $-0.13 | ||
| Q3 25 | $-0.07 | $-0.41 | ||
| Q2 25 | $-0.31 | $-0.55 | ||
| Q1 25 | $-0.16 | $-0.02 | ||
| Q4 24 | $-0.66 | $-0.43 | ||
| Q3 24 | $-0.03 | $-0.11 | ||
| Q2 24 | $-0.57 | $-0.10 | ||
| Q1 24 | $-0.52 | $-0.11 |
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 | $884.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $852.2M |
| 总资产 | $5.2B | $915.8M |
| 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APLDQBTS
| Q4 25 | $1.9B | $884.5M | ||
| Q3 25 | $73.9M | $836.2M | ||
| Q2 25 | $41.6M | $819.3M | ||
| Q1 25 | $68.7M | $304.3M | ||
| Q4 24 | $286.2M | $178.0M | ||
| Q3 24 | $58.2M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $4.4M | — |
股东权益APLDQBTS
| Q4 25 | $1.4B | $852.2M | ||
| Q3 25 | $1.0B | $670.6M | ||
| Q2 25 | $497.7M | $694.3M | ||
| Q1 25 | $454.6M | $207.4M | ||
| Q4 24 | $434.6M | $62.6M | ||
| Q3 24 | $241.8M | $-16.9M | ||
| Q2 24 | $124.8M | $-21.5M | ||
| Q1 24 | $118.5M | $-37.0M |
总资产APLDQBTS
| Q4 25 | $5.2B | $915.8M | ||
| Q3 25 | $2.4B | $865.8M | ||
| Q2 25 | $1.9B | $843.6M | ||
| Q1 25 | $1.7B | $325.6M | ||
| Q4 24 | $1.5B | $199.9M | ||
| Q3 24 | $937.7M | $49.6M | ||
| Q2 24 | $762.9M | $61.8M | ||
| Q1 24 | $643.2M | $48.6M |
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 | $-18.4M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $-20.0M |
| 自由现金流率自由现金流/营收 | -448.6% | -727.9% |
| 资本支出强度资本支出/营收 | 436.1% | 60.3% |
| 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 | $-75.8M |
8季度趋势，按日历期对齐
经营现金流APLDQBTS
| Q4 25 | $-15.8M | $-18.4M | ||
| Q3 25 | $-82.0M | $-19.0M | ||
| Q2 25 | $6.9M | $-15.3M | ||
| Q1 25 | $5.9M | $-19.3M | ||
| Q4 24 | $-52.3M | $2.0M | ||
| Q3 24 | $-75.9M | $-18.1M | ||
| Q2 24 | $-34.1M | $-14.5M | ||
| Q1 24 | $38.8M | $-12.1M |
自由现金流APLDQBTS
| Q4 25 | $-567.9M | $-20.0M | ||
| Q3 25 | $-331.4M | $-20.1M | ||
| Q2 25 | $-191.4M | $-16.0M | ||
| Q1 25 | $-251.6M | $-19.7M | ||
| Q4 24 | $-223.3M | $1.1M | ||
| Q3 24 | $-130.7M | $-18.4M | ||
| Q2 24 | $-88.9M | $-15.0M | ||
| Q1 24 | $-2.3M | $-12.4M |
自由现金流率APLDQBTS
| Q4 25 | -448.6% | -727.9% | ||
| Q3 25 | -516.1% | -536.5% | ||
| Q2 25 | 574.8% | -518.1% | ||
| Q1 25 | -475.4% | -131.4% | ||
| Q4 24 | -349.6% | 46.2% | ||
| Q3 24 | -215.3% | -982.8% | ||
| Q2 24 | -203.5% | -687.7% | ||
| Q1 24 | -5.4% | -504.0% |
资本支出强度APLDQBTS
| Q4 25 | 436.1% | 60.3% | ||
| Q3 25 | 388.4% | 27.2% | ||
| Q2 25 | -595.4% | 24.2% | ||
| Q1 25 | 486.6% | 2.9% | ||
| Q4 24 | 267.8% | 41.1% | ||
| Q3 24 | 90.3% | 16.4% | ||
| Q2 24 | 125.4% | 25.0% | ||
| Q1 24 | 95.0% | 12.4% |
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% |
QBTS
暂无分部数据
