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Applied Digital Corp.（APLD）与BRC Group Holdings, Inc.（RILY）财务数据对比。点击上方公司名可切换其他公司
BRC Group Holdings, Inc.的季度营收约是Applied Digital Corp.的1.5倍（$188.3M vs $126.6M），BRC Group Holdings, Inc.净利率更高（47.9% vs -11.4%，领先59.4%），Applied Digital Corp.同比增速更快（98.2% vs -21.9%），过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs -15.4%）
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。
APLD vs RILY — 直观对比
营收规模更大
RILY
是对方的1.5倍
$126.6M
营收增速更快
APLD
高出120.1%
-21.9%
净利率更高
RILY
高出59.4%
-11.4%
两年增速更快
APLD
近两年复合增速
-15.4%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $188.3M |
| 净利润 | $-14.4M | $90.3M |
| 毛利率 | 20.6% | 79.5% |
| 营业利润率 | -24.5% | 32.3% |
| 净利率 | -11.4% | 47.9% |
| 营收同比 | 98.2% | -21.9% |
| 净利润同比 | 89.6% | 1710.8% |
| 每股收益（稀释后） | $-0.07 | $2.78 |
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APLDRILY
| Q4 25 | $126.6M | $188.3M | ||
| Q3 25 | $64.2M | $215.3M | ||
| Q2 25 | $-33.3M | $188.2M | ||
| Q1 25 | $52.9M | $197.2M | ||
| Q4 24 | $63.9M | $241.0M | ||
| Q3 24 | $60.7M | $225.5M | ||
| Q2 24 | $43.7M | $256.0M | ||
| Q1 24 | $43.3M | $263.4M |
净利润APLDRILY
| Q4 25 | $-14.4M | $90.3M | ||
| Q3 25 | $-16.9M | $91.1M | ||
| Q2 25 | $-52.5M | $139.5M | ||
| Q1 25 | $-35.6M | $-10.0M | ||
| Q4 24 | $-138.7M | $-5.6M | ||
| Q3 24 | $-4.2M | $-284.4M | ||
| Q2 24 | $-64.5M | $-433.6M | ||
| Q1 24 | $-62.8M | $-49.2M |
毛利率APLDRILY
| Q4 25 | 20.6% | 79.5% | ||
| Q3 25 | 13.4% | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | 7.1% | 81.4% | ||
| Q4 24 | 18.0% | 79.8% | ||
| Q3 24 | -0.6% | 82.1% | ||
| Q2 24 | -9.1% | 84.5% | ||
| Q1 24 | -8.6% | 85.3% |
营业利润率APLDRILY
| Q4 25 | -24.5% | 32.3% | ||
| Q3 25 | -34.7% | 30.4% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | -35.8% | -31.2% | ||
| Q4 24 | -29.1% | -69.2% | ||
| Q3 24 | 15.6% | -36.4% | ||
| Q2 24 | -68.4% | -90.8% | ||
| Q1 24 | -128.8% | -6.1% |
净利率APLDRILY
| Q4 25 | -11.4% | 47.9% | ||
| Q3 25 | -26.4% | 42.3% | ||
| Q2 25 | 157.8% | 74.1% | ||
| Q1 25 | -67.2% | -5.1% | ||
| Q4 24 | -217.2% | -2.3% | ||
| Q3 24 | -7.0% | -126.1% | ||
| Q2 24 | -147.5% | -169.4% | ||
| Q1 24 | -145.0% | -18.7% |
每股收益（稀释后）APLDRILY
| Q4 25 | $-0.07 | $2.78 | ||
| Q3 25 | $-0.07 | $2.91 | ||
| Q2 25 | $-0.31 | $4.50 | ||
| Q1 25 | $-0.16 | $-0.39 | ||
| Q4 24 | $-0.66 | $-0.01 | ||
| Q3 24 | $-0.03 | $-9.39 | ||
| Q2 24 | $-0.57 | $-14.35 | ||
| Q1 24 | $-0.52 | $-1.71 |
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 | $226.6M |
| 总债务越低越好 | — | $1.4B |
| 股东权益账面价值 | $1.4B | $-171.5M |
| 总资产 | $5.2B | $1.7B |
| 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APLDRILY
| Q4 25 | $1.9B | $226.6M | ||
| Q3 25 | $73.9M | $184.2M | ||
| Q2 25 | $41.6M | $267.4M | ||
| Q1 25 | $68.7M | $138.3M | ||
| Q4 24 | $286.2M | $146.9M | ||
| Q3 24 | $58.2M | $159.2M | ||
| Q2 24 | $3.3M | $236.9M | ||
| Q1 24 | $4.4M | $190.7M |
总债务APLDRILY
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APLDRILY
| Q4 25 | $1.4B | $-171.5M | ||
| Q3 25 | $1.0B | $-260.5M | ||
| Q2 25 | $497.7M | $-351.7M | ||
| Q1 25 | $454.6M | $-496.8M | ||
| Q4 24 | $434.6M | $-488.2M | ||
| Q3 24 | $241.8M | $-497.6M | ||
| Q2 24 | $124.8M | $-218.3M | ||
| Q1 24 | $118.5M | $228.4M |
总资产APLDRILY
| Q4 25 | $5.2B | $1.7B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $937.7M | $2.2B | ||
| Q2 24 | $762.9M | $3.2B | ||
| Q1 24 | $643.2M | $5.0B |
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 | $26.2M |
| 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 | — | 0.29× |
| 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APLDRILY
| Q4 25 | $-15.8M | $26.2M | ||
| Q3 25 | $-82.0M | $-60.6M | ||
| Q2 25 | $6.9M | $-25.6M | ||
| Q1 25 | $5.9M | $184.0K | ||
| Q4 24 | $-52.3M | $-2.7M | ||
| Q3 24 | $-75.9M | $19.5M | ||
| Q2 24 | $-34.1M | $111.5M | ||
| Q1 24 | $38.8M | $135.4M |
自由现金流APLDRILY
| Q4 25 | $-567.9M | — | ||
| Q3 25 | $-331.4M | — | ||
| Q2 25 | $-191.4M | — | ||
| Q1 25 | $-251.6M | — | ||
| Q4 24 | $-223.3M | — | ||
| Q3 24 | $-130.7M | — | ||
| Q2 24 | $-88.9M | — | ||
| Q1 24 | $-2.3M | — |
自由现金流率APLDRILY
| Q4 25 | -448.6% | — | ||
| Q3 25 | -516.1% | — | ||
| Q2 25 | 574.8% | — | ||
| Q1 25 | -475.4% | — | ||
| Q4 24 | -349.6% | — | ||
| Q3 24 | -215.3% | — | ||
| Q2 24 | -203.5% | — | ||
| Q1 24 | -5.4% | — |
资本支出强度APLDRILY
| Q4 25 | 436.1% | — | ||
| Q3 25 | 388.4% | — | ||
| Q2 25 | -595.4% | — | ||
| Q1 25 | 486.6% | — | ||
| Q4 24 | 267.8% | — | ||
| Q3 24 | 90.3% | — | ||
| Q2 24 | 125.4% | — | ||
| Q1 24 | 95.0% | — |
现金转化率APLDRILY
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
