vs
Applied Digital Corp.（APLD）与Stellar Bancorp, Inc.（STEL）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Stellar Bancorp, Inc.的1.2倍（$126.6M vs $108.9M），Stellar Bancorp, Inc.净利率更高（24.0% vs -11.4%，领先35.4%），Applied Digital Corp.同比增速更快（98.2% vs 0.8%），Stellar Bancorp, Inc.自由现金流更多（$92.6M vs $-567.9M），过去两年Applied Digital Corp.的营收复合增速更高（70.9% vs 0.2%）
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。
Stellar Bancorp, Inc.是总部位于美国的金融控股公司，通过旗下全资银行子公司开展运营，提供全品类零售及商业银行服务，覆盖存款产品、个人及商业贷款、抵押贷款、财富管理解决方案，服务客群包括个人消费者、小微企业及区域企业客户。
APLD vs STEL — 直观对比
营收规模更大
APLD
是对方的1.2倍
$108.9M
营收增速更快
APLD
高出97.4%
0.8%
净利率更高
STEL
高出35.4%
-11.4%
自由现金流更多
STEL
多$660.5M
$-567.9M
两年增速更快
APLD
近两年复合增速
0.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $126.6M | $108.9M |
| 净利润 | $-14.4M | $26.1M |
| 毛利率 | 20.6% | — |
| 营业利润率 | -24.5% | 29.0% |
| 净利率 | -11.4% | 24.0% |
| 营收同比 | 98.2% | 0.8% |
| 净利润同比 | 89.6% | 3.7% |
| 每股收益（稀释后） | $-0.07 | $0.52 |
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APLDSTEL
| Q4 25 | $126.6M | $108.9M | ||
| Q3 25 | $64.2M | $105.6M | ||
| Q2 25 | $-33.3M | $104.1M | ||
| Q1 25 | $52.9M | $104.8M | ||
| Q4 24 | $63.9M | $108.0M | ||
| Q3 24 | $60.7M | $107.8M | ||
| Q2 24 | $43.7M | $106.8M | ||
| Q1 24 | $43.3M | $108.4M |
净利润APLDSTEL
| Q4 25 | $-14.4M | $26.1M | ||
| Q3 25 | $-16.9M | $25.7M | ||
| Q2 25 | $-52.5M | $26.4M | ||
| Q1 25 | $-35.6M | $24.7M | ||
| Q4 24 | $-138.7M | $25.2M | ||
| Q3 24 | $-4.2M | $33.9M | ||
| Q2 24 | $-64.5M | $29.8M | ||
| Q1 24 | $-62.8M | $26.1M |
毛利率APLDSTEL
| 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% | — | ||
| Q1 24 | -8.6% | — |
营业利润率APLDSTEL
| Q4 25 | -24.5% | 29.0% | ||
| Q3 25 | -34.7% | 30.5% | ||
| Q2 25 | — | 31.7% | ||
| Q1 25 | -35.8% | 29.6% | ||
| Q4 24 | -29.1% | 29.4% | ||
| Q3 24 | 15.6% | 39.6% | ||
| Q2 24 | -68.4% | 35.1% | ||
| Q1 24 | -128.8% | 30.4% |
净利率APLDSTEL
| Q4 25 | -11.4% | 24.0% | ||
| Q3 25 | -26.4% | 24.3% | ||
| Q2 25 | 157.8% | 25.3% | ||
| Q1 25 | -67.2% | 23.6% | ||
| Q4 24 | -217.2% | 23.3% | ||
| Q3 24 | -7.0% | 31.4% | ||
| Q2 24 | -147.5% | 27.9% | ||
| Q1 24 | -145.0% | 24.1% |
每股收益（稀释后）APLDSTEL
| Q4 25 | $-0.07 | $0.52 | ||
| Q3 25 | $-0.07 | $0.50 | ||
| Q2 25 | $-0.31 | $0.51 | ||
| Q1 25 | $-0.16 | $0.46 | ||
| Q4 24 | $-0.66 | $0.47 | ||
| Q3 24 | $-0.03 | $0.63 | ||
| Q2 24 | $-0.57 | $0.56 | ||
| Q1 24 | $-0.52 | $0.49 |
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 | $419.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $1.7B |
| 总资产 | $5.2B | $10.8B |
| 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APLDSTEL
| Q4 25 | $1.9B | $419.5M | ||
| Q3 25 | $73.9M | $728.4M | ||
| Q2 25 | $41.6M | $578.1M | ||
| Q1 25 | $68.7M | $560.6M | ||
| Q4 24 | $286.2M | $911.2M | ||
| Q3 24 | $58.2M | $516.2M | ||
| Q2 24 | $3.3M | $490.3M | ||
| Q1 24 | $4.4M | $399.7M |
股东权益APLDSTEL
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.0B | $1.7B | ||
| Q2 25 | $497.7M | $1.6B | ||
| Q1 25 | $454.6M | $1.6B | ||
| Q4 24 | $434.6M | $1.6B | ||
| Q3 24 | $241.8M | $1.6B | ||
| Q2 24 | $124.8M | $1.6B | ||
| Q1 24 | $118.5M | $1.5B |
总资产APLDSTEL
| Q4 25 | $5.2B | $10.8B | ||
| Q3 25 | $2.4B | $10.6B | ||
| Q2 25 | $1.9B | $10.5B | ||
| Q1 25 | $1.7B | $10.4B | ||
| Q4 24 | $1.5B | $10.9B | ||
| Q3 24 | $937.7M | $10.6B | ||
| Q2 24 | $762.9M | $10.7B | ||
| Q1 24 | $643.2M | $10.7B |
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 | $97.0M |
| 自由现金流经营现金流 - 资本支出 | $-567.9M | $92.6M |
| 自由现金流率自由现金流/营收 | -448.6% | 85.0% |
| 资本支出强度资本支出/营收 | 436.1% | 4.0% |
| 现金转化率经营现金流/净利润 | — | 3.71× |
| 过去12个月自由现金流最近4个季度 | $-1.3B | $173.2M |
8季度趋势，按日历期对齐
经营现金流APLDSTEL
| Q4 25 | $-15.8M | $97.0M | ||
| Q3 25 | $-82.0M | $63.6M | ||
| Q2 25 | $6.9M | $25.8M | ||
| Q1 25 | $5.9M | $-5.7M | ||
| Q4 24 | $-52.3M | $132.6M | ||
| Q3 24 | $-75.9M | $59.5M | ||
| Q2 24 | $-34.1M | $38.1M | ||
| Q1 24 | $38.8M | $31.1M |
自由现金流APLDSTEL
| Q4 25 | $-567.9M | $92.6M | ||
| Q3 25 | $-331.4M | $62.5M | ||
| Q2 25 | $-191.4M | $24.5M | ||
| Q1 25 | $-251.6M | $-6.4M | ||
| Q4 24 | $-223.3M | $128.0M | ||
| Q3 24 | $-130.7M | $57.7M | ||
| Q2 24 | $-88.9M | $37.1M | ||
| Q1 24 | $-2.3M | $30.5M |
自由现金流率APLDSTEL
| Q4 25 | -448.6% | 85.0% | ||
| Q3 25 | -516.1% | 59.2% | ||
| Q2 25 | 574.8% | 23.6% | ||
| Q1 25 | -475.4% | -6.2% | ||
| Q4 24 | -349.6% | 118.5% | ||
| Q3 24 | -215.3% | 53.5% | ||
| Q2 24 | -203.5% | 34.8% | ||
| Q1 24 | -5.4% | 28.2% |
资本支出强度APLDSTEL
| Q4 25 | 436.1% | 4.0% | ||
| Q3 25 | 388.4% | 1.1% | ||
| Q2 25 | -595.4% | 1.2% | ||
| Q1 25 | 486.6% | 0.7% | ||
| Q4 24 | 267.8% | 4.3% | ||
| Q3 24 | 90.3% | 1.7% | ||
| Q2 24 | 125.4% | 0.9% | ||
| Q1 24 | 95.0% | 0.5% |
现金转化率APLDSTEL
| Q4 25 | — | 3.71× | ||
| Q3 25 | — | 2.48× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | -0.23× | ||
| Q4 24 | — | 5.26× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.19× |
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% |
STEL
暂无分部数据
