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阿波罗全球管理（APO）与MARA Holdings, Inc.（MARA）财务数据对比。点击上方公司名可切换其他公司
阿波罗全球管理的季度营收约是MARA Holdings, Inc.的48.8倍（$9.9B vs $202.3M），阿波罗全球管理净利率更高（6.9% vs -14298.3%，领先14305.2%），阿波罗全球管理同比增速更快（86.7% vs -5.6%），过去两年阿波罗全球管理的营收复合增速更高（18.4% vs 10.7%）
阿波罗全球管理是美国头部另类资产管理机构，截至2025年总资产管理规模达8400亿美元，业务涵盖3920亿美元的信贷类资产（含夹层资本、对冲基金、不良贷款、担保贷款凭证等）、990亿美元私募股权，以及462亿美元的地产、基建等实体资产，为全球客户提供专业资产管理服务。
MARA Holdings, Inc.是一家美国数字资产技术及加密货币挖矿企业，总部位于佛罗里达州劳德代尔堡。公司成立于2010年，最初以专利控股公司的模式运营，2010年代后期转向专注于区块链基础设施与数字资产相关业务。
APO vs MARA — 直观对比
营收规模更大
APO
是对方的48.8倍
$202.3M
营收增速更快
APO
高出92.3%
-5.6%
净利率更高
APO
高出14305.2%
-14298.3%
两年增速更快
APO
近两年复合增速
10.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9B | $202.3M |
| 净利润 | $684.0M | $-1.7B |
| 毛利率 | — | — |
| 营业利润率 | 17.8% | -11795.9% |
| 净利率 | 6.9% | -14298.3% |
| 营收同比 | 86.7% | -5.6% |
| 净利润同比 | -54.0% | -423.5% |
| 每股收益（稀释后） | $1.09 | $-4.25 |
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APOMARA
| Q4 25 | $9.9B | $202.3M | ||
| Q3 25 | $9.8B | $252.4M | ||
| Q2 25 | $6.8B | $238.5M | ||
| Q1 25 | $5.5B | $213.9M | ||
| Q4 24 | $5.3B | $214.4M | ||
| Q3 24 | $7.8B | $131.6M | ||
| Q2 24 | $6.0B | $145.1M | ||
| Q1 24 | $7.0B | $165.2M |
净利润APOMARA
| Q4 25 | $684.0M | $-1.7B | ||
| Q3 25 | $1.7B | $123.1M | ||
| Q2 25 | $630.0M | $808.2M | ||
| Q1 25 | $442.0M | $-533.4M | ||
| Q4 24 | $1.5B | $528.5M | ||
| Q3 24 | $811.0M | $-124.8M | ||
| Q2 24 | $853.0M | $-199.7M | ||
| Q1 24 | $1.4B | $337.2M |
毛利率APOMARA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -2613.4% | ||
| Q3 24 | — | -1065.0% | ||
| Q2 24 | — | -587.6% | ||
| Q1 24 | — | -289.4% |
营业利润率APOMARA
| Q4 25 | 17.8% | -11795.9% | ||
| Q3 25 | 29.5% | 18.9% | ||
| Q2 25 | 12.4% | — | ||
| Q1 25 | 21.3% | -253.0% | ||
| Q4 24 | 32.6% | — | ||
| Q3 24 | 26.8% | -130.8% | ||
| Q2 24 | 23.9% | -160.1% | ||
| Q1 24 | 31.1% | — |
净利率APOMARA
| Q4 25 | 6.9% | -14298.3% | ||
| Q3 25 | 17.7% | 48.8% | ||
| Q2 25 | 9.2% | 338.9% | ||
| Q1 25 | 8.0% | -249.4% | ||
| Q4 24 | 28.1% | 5367.4% | ||
| Q3 24 | 10.4% | -94.8% | ||
| Q2 24 | 14.2% | -137.6% | ||
| Q1 24 | 20.3% | 204.1% |
每股收益（稀释后）APOMARA
| Q4 25 | $1.09 | $-4.25 | ||
| Q3 25 | $2.78 | $0.27 | ||
| Q2 25 | $0.99 | $1.84 | ||
| Q1 25 | $0.68 | $-1.55 | ||
| Q4 24 | $2.41 | $1.60 | ||
| Q3 24 | $1.29 | $-0.42 | ||
| Q2 24 | $1.35 | $-0.72 | ||
| Q1 24 | $2.28 | $1.26 |
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 | — | $547.1M |
| 总债务越低越好 | $13.4B | $3.6B |
| 股东权益账面价值 | $23.3B | $3.5B |
| 总资产 | $460.9B | $7.3B |
| 负债/权益比越低杠杆越低 | 0.57× | 1.04× |
8季度趋势，按日历期对齐
现金及短期投资APOMARA
| Q4 25 | — | $547.1M | ||
| Q3 25 | — | $826.4M | ||
| Q2 25 | — | $109.5M | ||
| Q1 25 | — | $196.2M | ||
| Q4 24 | — | $391.8M | ||
| Q3 24 | — | $164.3M | ||
| Q2 24 | — | $256.0M | ||
| Q1 24 | — | $324.3M |
总债务APOMARA
| Q4 25 | $13.4B | $3.6B | ||
| Q3 25 | $12.6B | $3.2B | ||
| Q2 25 | $12.1B | $2.3B | ||
| Q1 25 | $10.6B | $2.3B | ||
| Q4 24 | $10.6B | $2.4B | ||
| Q3 24 | $9.8B | $618.7M | ||
| Q2 24 | $9.8B | — | ||
| Q1 24 | $9.6B | — |
股东权益APOMARA
| Q4 25 | $23.3B | $3.5B | ||
| Q3 25 | $23.1B | $5.2B | ||
| Q2 25 | $19.3B | $4.8B | ||
| Q1 25 | $18.0B | $3.7B | ||
| Q4 24 | $17.3B | $4.1B | ||
| Q3 24 | $17.9B | $2.9B | ||
| Q2 24 | $15.3B | $2.6B | ||
| Q1 24 | $14.8B | $2.5B |
总资产APOMARA
| Q4 25 | $460.9B | $7.3B | ||
| Q3 25 | $449.5B | $9.2B | ||
| Q2 25 | $419.6B | $7.7B | ||
| Q1 25 | $395.0B | $6.4B | ||
| Q4 24 | $377.9B | $6.8B | ||
| Q3 24 | $368.7B | $3.6B | ||
| Q2 24 | $346.5B | $3.1B | ||
| Q1 24 | $334.1B | $3.0B |
负债/权益比APOMARA
| Q4 25 | 0.57× | 1.04× | ||
| Q3 25 | 0.55× | 0.63× | ||
| Q2 25 | 0.63× | 0.47× | ||
| Q1 25 | 0.59× | 0.62× | ||
| Q4 24 | 0.61× | 0.59× | ||
| Q3 24 | 0.55× | 0.22× | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.65× | — |
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 | $4.7B | $-802.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.2B |
| 自由现金流率自由现金流/营收 | — | -598.0% |
| 资本支出强度资本支出/营收 | — | 201.2% |
| 现金转化率经营现金流/净利润 | 6.83× | — |
| 过去12个月自由现金流最近4个季度 | — | $-2.0B |
8季度趋势，按日历期对齐
经营现金流APOMARA
| Q4 25 | $4.7B | $-802.7M | ||
| Q3 25 | $303.0M | $-199.0M | ||
| Q2 25 | $1.3B | $-163.4M | ||
| Q1 25 | $1.0B | $-215.5M | ||
| Q4 24 | $-4.0M | $-677.0M | ||
| Q3 24 | $1.9B | $-160.1M | ||
| Q2 24 | $1.3B | $-115.2M | ||
| Q1 24 | $70.0M | $-88.3M |
自由现金流APOMARA
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-283.9M | ||
| Q2 25 | — | $-282.4M | ||
| Q1 25 | — | $-254.3M | ||
| Q4 24 | — | $-927.8M | ||
| Q3 24 | — | $-198.1M | ||
| Q2 24 | — | $-132.4M | ||
| Q1 24 | — | $-97.4M |
自由现金流率APOMARA
| Q4 25 | — | -598.0% | ||
| Q3 25 | — | -112.5% | ||
| Q2 25 | — | -118.4% | ||
| Q1 25 | — | -118.9% | ||
| Q4 24 | — | -432.8% | ||
| Q3 24 | — | -150.5% | ||
| Q2 24 | — | -91.2% | ||
| Q1 24 | — | -59.0% |
资本支出强度APOMARA
| Q4 25 | — | 201.2% | ||
| Q3 25 | — | 33.6% | ||
| Q2 25 | — | 49.9% | ||
| Q1 25 | — | 18.2% | ||
| Q4 24 | — | 117.0% | ||
| Q3 24 | — | 28.9% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | — | 5.5% |
现金转化率APOMARA
| Q4 25 | 6.83× | — | ||
| Q3 25 | 0.17× | -1.62× | ||
| Q2 25 | 2.00× | -0.20× | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | -0.00× | -1.28× | ||
| Q3 24 | 2.29× | — | ||
| Q2 24 | 1.56× | — | ||
| Q1 24 | 0.05× | -0.26× |
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
APO
| Retirement Services Segment | $8.5B | 86% |
| Asset Management1 | $681.0M | 7% |
| Principal Investing Segment | $624.0M | 6% |
| Management Service Incentive | $96.0M | 1% |
MARA
暂无分部数据
