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AppLovin Corp（APP）与ANTERO RESOURCES Corp（AR）财务数据对比。点击上方公司名可切换其他公司
ANTERO RESOURCES Corp的季度营收约是AppLovin Corp的1.1倍（$1.4B vs $1.3B），AppLovin Corp净利率更高（82.7% vs 14.4%，领先68.3%），ANTERO RESOURCES Corp同比增速更快（20.8% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 12.2%）
AppLovin是总部位于美国加利福尼亚州帕洛阿尔托的移动科技公司，成立于2012年，旗下拥有SSP MAX、DSP AppDiscovery营销平台及SparkLabs创意工作室，可为开发者提供应用推广、变现、分析及发行服务，同时也对多家移动游戏发行商开展投资。
Antero Resources Corporation是一家美国油气勘探企业，注册地为特拉华州，总部设于科罗拉多州丹佛市。公司全部油气储量均位于阿巴拉契亚盆地，采用水力压裂技术开展开采作业，深耕北美本土油气资源开发领域。
APP vs AR — 直观对比
营收规模更大
AR
是对方的1.1倍
$1.3B
营收增速更快
AR
高出23.7%
-2.9%
净利率更高
APP
高出68.3%
14.4%
两年增速更快
APP
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $1.1B | $202.9M |
| 毛利率 | 95.2% | — |
| 营业利润率 | — | 20.5% |
| 净利率 | 82.7% | 14.4% |
| 营收同比 | -2.9% | 20.8% |
| 净利润同比 | 84.0% | 27.8% |
| 每股收益（稀释后） | $3.24 | $0.63 |
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APPAR
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.1B | $978.7M | ||
| Q1 24 | $1.1B | $1.1B |
净利润APPAR
| Q4 25 | $1.1B | $202.9M | ||
| Q3 25 | $835.5M | $85.6M | ||
| Q2 25 | $819.5M | $166.6M | ||
| Q1 25 | $576.4M | $219.5M | ||
| Q4 24 | $599.2M | $158.8M | ||
| Q3 24 | $434.4M | $-25.2M | ||
| Q2 24 | $310.0M | $-74.6M | ||
| Q1 24 | $236.2M | $34.7M |
毛利率APPAR
| Q4 25 | 95.2% | — | ||
| Q3 25 | 87.6% | — | ||
| Q2 25 | 87.7% | — | ||
| Q1 25 | 81.7% | — | ||
| Q4 24 | 76.7% | — | ||
| Q3 24 | 77.5% | — | ||
| Q2 24 | 73.8% | — | ||
| Q1 24 | 72.2% | — |
营业利润率APPAR
| Q4 25 | — | 20.5% | ||
| Q3 25 | 76.8% | 9.7% | ||
| Q2 25 | 76.1% | 15.8% | ||
| Q1 25 | 44.7% | 20.1% | ||
| Q4 24 | 44.3% | 4.9% | ||
| Q3 24 | 44.6% | -2.4% | ||
| Q2 24 | 36.2% | -8.2% | ||
| Q1 24 | 32.1% | 4.3% |
净利率APPAR
| Q4 25 | 82.7% | 14.4% | ||
| Q3 25 | 59.5% | 7.1% | ||
| Q2 25 | 65.1% | 12.8% | ||
| Q1 25 | 38.8% | 16.2% | ||
| Q4 24 | 43.6% | 13.6% | ||
| Q3 24 | 36.3% | -2.4% | ||
| Q2 24 | 28.7% | -7.6% | ||
| Q1 24 | 22.3% | 3.1% |
每股收益（稀释后）APPAR
| Q4 25 | $3.24 | $0.63 | ||
| Q3 25 | $2.45 | $0.24 | ||
| Q2 25 | $2.39 | $0.50 | ||
| Q1 25 | $1.67 | $0.66 | ||
| Q4 24 | $1.72 | $0.48 | ||
| Q3 24 | $1.25 | $-0.11 | ||
| Q2 24 | $0.89 | $-0.26 | ||
| Q1 24 | $0.67 | $0.07 |
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 | $2.5B | — |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $7.6B |
| 总资产 | $7.3B | $13.2B |
| 负债/权益比越低杠杆越低 | 1.65× | — |
8季度趋势，按日历期对齐
现金及短期投资APPAR
| Q4 25 | $2.5B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $551.0M | — | ||
| Q4 24 | $741.4M | — | ||
| Q3 24 | $567.6M | — | ||
| Q2 24 | $460.4M | — | ||
| Q1 24 | $436.3M | — |
总债务APPAR
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPAR
| Q4 25 | $2.1B | $7.6B | ||
| Q3 25 | $1.5B | $7.3B | ||
| Q2 25 | $1.2B | $7.3B | ||
| Q1 25 | $575.4M | $7.2B | ||
| Q4 24 | $1.1B | $7.0B | ||
| Q3 24 | $938.2M | $7.0B | ||
| Q2 24 | $814.8M | $7.0B | ||
| Q1 24 | $760.2M | $7.1B |
总资产APPAR
| Q4 25 | $7.3B | $13.2B | ||
| Q3 25 | $6.3B | $12.9B | ||
| Q2 25 | $6.0B | $12.8B | ||
| Q1 25 | $5.7B | $13.0B | ||
| Q4 24 | $5.9B | $13.0B | ||
| Q3 24 | $5.4B | $13.2B | ||
| Q2 24 | $5.3B | $13.4B | ||
| Q1 24 | $5.3B | $13.5B |
负债/权益比APPAR
| Q4 25 | 1.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.22× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.3B | $370.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.19× | 1.83× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APPAR
| Q4 25 | $1.3B | $370.7M | ||
| Q3 25 | $1.1B | $310.1M | ||
| Q2 25 | $772.2M | $492.4M | ||
| Q1 25 | $831.7M | $457.7M | ||
| Q4 24 | $701.0M | $278.0M | ||
| Q3 24 | $550.7M | $166.2M | ||
| Q2 24 | $454.5M | $143.5M | ||
| Q1 24 | $392.8M | $261.6M |
现金转化率APPAR
| Q4 25 | 1.19× | 1.83× | ||
| Q3 25 | 1.26× | 3.62× | ||
| Q2 25 | 0.94× | 2.96× | ||
| Q1 25 | 1.44× | 2.09× | ||
| Q4 24 | 1.17× | 1.75× | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.66× | 7.55× |
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
APP
| Other | $673.9M | 51% |
| US | $659.0M | 49% |
AR
| Natural Gas Production | $773.6M | 55% |
| Natural Gas Liquids Sales C3Ngls | $378.1M | 27% |
| Other | $97.3M | 7% |
| Natural Gas Liquids Sales Ethane | $96.1M | 7% |
| Oil And Condensate | $34.8M | 2% |
| Marketings | $31.7M | 2% |
