vs
Applied Digital Corp.（APLD）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Reddit, Inc.的季度营收约是Applied Digital Corp.的5.7倍（$725.6M vs $126.6M）。Reddit, Inc.净利率更高（34.7% vs -11.4%，领先46.1%）。Applied Digital Corp.同比增速更快（98.2% vs 69.7%）。Reddit, Inc.自由现金流更多（$263.6M vs $-567.9M）。过去两年Reddit, Inc.的营收复合增速更高（72.8% vs 70.9%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
APLD vs RDDT — 直观对比
营收规模更大
RDDT
是对方的5.7倍
$126.6M
营收增速更快
APLD
高出28.6%
69.7%
净利率更高
RDDT
高出46.1%
-11.4%
自由现金流更多
RDDT
多$831.6M
$-567.9M
两年增速更快
RDDT
近两年复合增速
70.9%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $725.6M |
| 净利润 | $-14.4M | $251.6M |
| 毛利率 | 20.6% | 91.9% |
| 营业利润率 | -24.5% | 31.9% |
| 净利率 | -11.4% | 34.7% |
| 营收同比 | 98.2% | 69.7% |
| 净利润同比 | 89.6% | 254.2% |
| 每股收益（稀释后） | $-0.07 | $1.24 |
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APLDRDDT
| Q4 25 | $126.6M | $725.6M | ||
| Q3 25 | $64.2M | $584.9M | ||
| Q2 25 | $-33.3M | $499.6M | ||
| Q1 25 | $52.9M | $392.4M | ||
| Q4 24 | $63.9M | $427.7M | ||
| Q3 24 | $60.7M | $348.4M | ||
| Q2 24 | $43.7M | $281.2M | ||
| Q1 24 | $43.3M | $243.0M |
净利润APLDRDDT
| Q4 25 | $-14.4M | $251.6M | ||
| Q3 25 | $-16.9M | $162.7M | ||
| Q2 25 | $-52.5M | $89.3M | ||
| Q1 25 | $-35.6M | $26.2M | ||
| Q4 24 | $-138.7M | $71.0M | ||
| Q3 24 | $-4.2M | $29.9M | ||
| Q2 24 | $-64.5M | $-10.1M | ||
| Q1 24 | $-62.8M | $-575.1M |
毛利率APLDRDDT
| Q4 25 | 20.6% | 91.9% | ||
| Q3 25 | 13.4% | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | 7.1% | 90.5% | ||
| Q4 24 | 18.0% | 92.6% | ||
| Q3 24 | -0.6% | 90.1% | ||
| Q2 24 | -9.1% | 89.5% | ||
| Q1 24 | -8.6% | 88.6% |
营业利润率APLDRDDT
| Q4 25 | -24.5% | 31.9% | ||
| Q3 25 | -34.7% | 23.7% | ||
| Q2 25 | — | 13.6% | ||
| Q1 25 | -35.8% | 1.0% | ||
| Q4 24 | -29.1% | 12.4% | ||
| Q3 24 | 15.6% | 2.0% | ||
| Q2 24 | -68.4% | -11.0% | ||
| Q1 24 | -128.8% | -242.5% |
净利率APLDRDDT
| Q4 25 | -11.4% | 34.7% | ||
| Q3 25 | -26.4% | 27.8% | ||
| Q2 25 | 157.8% | 17.9% | ||
| Q1 25 | -67.2% | 6.7% | ||
| Q4 24 | -217.2% | 16.6% | ||
| Q3 24 | -7.0% | 8.6% | ||
| Q2 24 | -147.5% | -3.6% | ||
| Q1 24 | -145.0% | -236.7% |
每股收益（稀释后）APLDRDDT
| Q4 25 | $-0.07 | $1.24 | ||
| Q3 25 | $-0.07 | $0.80 | ||
| Q2 25 | $-0.31 | $0.45 | ||
| Q1 25 | $-0.16 | $0.13 | ||
| Q4 24 | $-0.66 | $4.76 | ||
| Q3 24 | $-0.03 | $0.16 | ||
| Q2 24 | $-0.57 | $-0.06 | ||
| Q1 24 | $-0.52 | $-8.19 |
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 | $953.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $2.9B |
| 总资产 | $5.2B | $3.2B |
| 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APLDRDDT
| Q4 25 | $1.9B | $953.6M | ||
| Q3 25 | $73.9M | $911.7M | ||
| Q2 25 | $41.6M | $734.1M | ||
| Q1 25 | $68.7M | $635.7M | ||
| Q4 24 | $286.2M | $562.1M | ||
| Q3 24 | $58.2M | $515.9M | ||
| Q2 24 | $3.3M | $468.0M | ||
| Q1 24 | $4.4M | $968.5M |
股东权益APLDRDDT
| Q4 25 | $1.4B | $2.9B | ||
| Q3 25 | $1.0B | $2.6B | ||
| Q2 25 | $497.7M | $2.4B | ||
| Q1 25 | $454.6M | $2.2B | ||
| Q4 24 | $434.6M | $2.1B | ||
| Q3 24 | $241.8M | $2.0B | ||
| Q2 24 | $124.8M | $1.9B | ||
| Q1 24 | $118.5M | $1.8B |
总资产APLDRDDT
| Q4 25 | $5.2B | $3.2B | ||
| Q3 25 | $2.4B | $2.9B | ||
| Q2 25 | $1.9B | $2.6B | ||
| Q1 25 | $1.7B | $2.4B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $937.7M | $2.2B | ||
| Q2 24 | $762.9M | $2.1B | ||
| Q1 24 | $643.2M | $2.0B |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $263.6M |
| 自由现金流率自由现金流/营收 | -448.6% | 36.3% |
| 资本支出强度资本支出/营收 | 436.1% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.06× |
| 过去12个月自由现金流最近4个季度 | $-1.3B | $684.2M |
8季度趋势，按日历期对齐
经营现金流APLDRDDT
| Q4 25 | $-15.8M | $266.8M | ||
| Q3 25 | $-82.0M | $185.2M | ||
| Q2 25 | $6.9M | $111.3M | ||
| Q1 25 | $5.9M | $127.6M | ||
| Q4 24 | $-52.3M | $90.0M | ||
| Q3 24 | $-75.9M | $71.6M | ||
| Q2 24 | $-34.1M | $28.4M | ||
| Q1 24 | $38.8M | $32.1M |
自由现金流APLDRDDT
| Q4 25 | $-567.9M | $263.6M | ||
| Q3 25 | $-331.4M | $183.1M | ||
| Q2 25 | $-191.4M | $110.8M | ||
| Q1 25 | $-251.6M | $126.6M | ||
| Q4 24 | $-223.3M | $89.2M | ||
| Q3 24 | $-130.7M | $70.3M | ||
| Q2 24 | $-88.9M | $27.2M | ||
| Q1 24 | $-2.3M | $29.2M |
自由现金流率APLDRDDT
| Q4 25 | -448.6% | 36.3% | ||
| Q3 25 | -516.1% | 31.3% | ||
| Q2 25 | 574.8% | 22.2% | ||
| Q1 25 | -475.4% | 32.3% | ||
| Q4 24 | -349.6% | 20.8% | ||
| Q3 24 | -215.3% | 20.2% | ||
| Q2 24 | -203.5% | 9.7% | ||
| Q1 24 | -5.4% | 12.0% |
资本支出强度APLDRDDT
| Q4 25 | 436.1% | 0.4% | ||
| Q3 25 | 388.4% | 0.4% | ||
| Q2 25 | -595.4% | 0.1% | ||
| Q1 25 | 486.6% | 0.2% | ||
| Q4 24 | 267.8% | 0.2% | ||
| Q3 24 | 90.3% | 0.4% | ||
| Q2 24 | 125.4% | 0.4% | ||
| Q1 24 | 95.0% | 1.2% |
现金转化率APLDRDDT
| Q4 25 | — | 1.06× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 4.88× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 2.40× | ||
| 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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
