vs
Applied Digital Corp.（APLD）与GIBRALTAR INDUSTRIES, INC.（ROCK）财务数据对比。点击上方公司名可切换其他公司
GIBRALTAR INDUSTRIES, INC.的季度营收约是Applied Digital Corp.的1.8倍（$225.0M vs $126.6M），Applied Digital Corp.同比增速更快（98.2% vs 24.9%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $-567.9M），过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
APLD vs ROCK — 直观对比
营收规模更大
ROCK
是对方的1.8倍
$126.6M
营收增速更快
APLD
高出73.3%
24.9%
自由现金流更多
ROCK
多$594.1M
$-567.9M
两年增速更快
APLD
近两年复合增速
-12.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $225.0M |
| 净利润 | $-14.4M | — |
| 毛利率 | 20.6% | 25.3% |
| 营业利润率 | -24.5% | 7.9% |
| 净利率 | -11.4% | — |
| 营收同比 | 98.2% | 24.9% |
| 净利润同比 | 89.6% | — |
| 每股收益（稀释后） | $-0.07 | — |
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APLDROCK
| Q4 25 | $126.6M | $225.0M | ||
| Q3 25 | $64.2M | $310.9M | ||
| Q2 25 | $-33.3M | $309.5M | ||
| Q1 25 | $52.9M | $290.0M | ||
| Q4 24 | $63.9M | $180.1M | ||
| Q3 24 | $60.7M | $277.1M | ||
| Q2 24 | $43.7M | $273.6M | ||
| Q1 24 | $43.3M | $292.5M |
净利润APLDROCK
| Q4 25 | $-14.4M | — | ||
| Q3 25 | $-16.9M | $-89.1M | ||
| Q2 25 | $-52.5M | $26.0M | ||
| Q1 25 | $-35.6M | $21.1M | ||
| Q4 24 | $-138.7M | — | ||
| Q3 24 | $-4.2M | $34.0M | ||
| Q2 24 | $-64.5M | $32.2M | ||
| Q1 24 | $-62.8M | $24.9M |
毛利率APLDROCK
| Q4 25 | 20.6% | 25.3% | ||
| Q3 25 | 13.4% | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | 7.1% | 26.8% | ||
| Q4 24 | 18.0% | 29.0% | ||
| Q3 24 | -0.6% | 29.4% | ||
| Q2 24 | -9.1% | 30.5% | ||
| Q1 24 | -8.6% | 28.9% |
营业利润率APLDROCK
| Q4 25 | -24.5% | 7.9% | ||
| Q3 25 | -34.7% | 12.8% | ||
| Q2 25 | — | 12.8% | ||
| Q1 25 | -35.8% | 8.8% | ||
| Q4 24 | -29.1% | 13.3% | ||
| Q3 24 | 15.6% | 15.6% | ||
| Q2 24 | -68.4% | 14.9% | ||
| Q1 24 | -128.8% | 10.8% |
净利率APLDROCK
| Q4 25 | -11.4% | — | ||
| Q3 25 | -26.4% | -28.6% | ||
| Q2 25 | 157.8% | 8.4% | ||
| Q1 25 | -67.2% | 7.3% | ||
| Q4 24 | -217.2% | — | ||
| Q3 24 | -7.0% | 12.3% | ||
| Q2 24 | -147.5% | 11.8% | ||
| Q1 24 | -145.0% | 8.5% |
每股收益（稀释后）APLDROCK
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.07 | $-2.98 | ||
| Q2 25 | $-0.31 | $0.87 | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.66 | — | ||
| Q3 24 | $-0.03 | $1.11 | ||
| Q2 24 | $-0.57 | $1.05 | ||
| Q1 24 | $-0.52 | — |
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 | $115.7M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $1.4B | $950.4M |
| 总资产 | $5.2B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资APLDROCK
| Q4 25 | $1.9B | $115.7M | ||
| Q3 25 | $73.9M | $89.4M | ||
| Q2 25 | $41.6M | $43.3M | ||
| Q1 25 | $68.7M | $25.1M | ||
| Q4 24 | $286.2M | $269.5M | ||
| Q3 24 | $58.2M | $228.9M | ||
| Q2 24 | $3.3M | $179.1M | ||
| Q1 24 | $4.4M | $146.7M |
总债务APLDROCK
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
股东权益APLDROCK
| Q4 25 | $1.4B | $950.4M | ||
| Q3 25 | $1.0B | $951.8M | ||
| Q2 25 | $497.7M | $1.0B | ||
| Q1 25 | $454.6M | $1.0B | ||
| Q4 24 | $434.6M | $1.0B | ||
| Q3 24 | $241.8M | $1.0B | ||
| Q2 24 | $124.8M | $975.7M | ||
| Q1 24 | $118.5M | $940.2M |
总资产APLDROCK
| Q4 25 | $5.2B | $1.4B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $937.7M | $1.4B | ||
| Q2 24 | $762.9M | $1.4B | ||
| Q1 24 | $643.2M | $1.3B |
负债/权益比APLDROCK
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $26.2M |
| 自由现金流率自由现金流/营收 | -448.6% | 11.7% |
| 资本支出强度资本支出/营收 | 436.1% | 4.1% |
| 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 | $120.6M |
8季度趋势，按日历期对齐
经营现金流APLDROCK
| Q4 25 | $-15.8M | $35.5M | ||
| Q3 25 | $-82.0M | $73.0M | ||
| Q2 25 | $6.9M | $44.9M | ||
| Q1 25 | $5.9M | $13.7M | ||
| Q4 24 | $-52.3M | $19.9M | ||
| Q3 24 | $-75.9M | $64.7M | ||
| Q2 24 | $-34.1M | $36.5M | ||
| Q1 24 | $38.8M | $53.2M |
自由现金流APLDROCK
| Q4 25 | $-567.9M | $26.2M | ||
| Q3 25 | $-331.4M | $64.8M | ||
| Q2 25 | $-191.4M | $27.3M | ||
| Q1 25 | $-251.6M | $2.3M | ||
| Q4 24 | $-223.3M | $14.1M | ||
| Q3 24 | $-130.7M | $60.5M | ||
| Q2 24 | $-88.9M | $33.5M | ||
| Q1 24 | $-2.3M | $48.8M |
自由现金流率APLDROCK
| Q4 25 | -448.6% | 11.7% | ||
| Q3 25 | -516.1% | 20.8% | ||
| Q2 25 | 574.8% | 8.8% | ||
| Q1 25 | -475.4% | 0.8% | ||
| Q4 24 | -349.6% | 7.8% | ||
| Q3 24 | -215.3% | 21.8% | ||
| Q2 24 | -203.5% | 12.2% | ||
| Q1 24 | -5.4% | 16.7% |
资本支出强度APLDROCK
| Q4 25 | 436.1% | 4.1% | ||
| Q3 25 | 388.4% | 2.6% | ||
| Q2 25 | -595.4% | 5.7% | ||
| Q1 25 | 486.6% | 3.9% | ||
| Q4 24 | 267.8% | 3.3% | ||
| Q3 24 | 90.3% | 1.5% | ||
| Q2 24 | 125.4% | 1.1% | ||
| Q1 24 | 95.0% | 1.5% |
现金转化率APLDROCK
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
