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AppLovin Corp（APP）与BRUNSWICK CORP（BC）财务数据对比。点击上方公司名可切换其他公司
BRUNSWICK CORP的季度营收约是AppLovin Corp的1.0倍（$1.3B vs $1.3B），AppLovin Corp净利率更高（82.7% vs 1.4%，领先81.3%），BRUNSWICK CORP同比增速更快（15.5% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs -1.1%）
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。
美国Brunswick公司创立于1845年，专注于多品类产品的研发、生产与营销，旗下拥有知名海事品牌水星海事（Mercury Marine）等多个品牌。目前集团在24个国家拥有超1.3万名员工，2024年销售额达52亿美元，全球总部位于伊利诺伊州芝加哥北郊的梅塔瓦。
APP vs BC — 直观对比
营收规模更大
BC
是对方的1.0倍
$1.3B
营收增速更快
BC
高出18.4%
-2.9%
净利率更高
APP
高出81.3%
1.4%
两年增速更快
APP
近两年复合增速
-1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $1.1B | $18.7M |
| 毛利率 | 95.2% | 23.1% |
| 营业利润率 | — | 3.1% |
| 净利率 | 82.7% | 1.4% |
| 营收同比 | -2.9% | 15.5% |
| 净利润同比 | 84.0% | 122.7% |
| 每股收益（稀释后） | $3.24 | $0.32 |
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APPBC
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.1B | $1.4B | ||
| Q1 24 | $1.1B | $1.4B |
净利润APPBC
| Q4 25 | $1.1B | $18.7M | ||
| Q3 25 | $835.5M | $-235.5M | ||
| Q2 25 | $819.5M | $59.3M | ||
| Q1 25 | $576.4M | $20.2M | ||
| Q4 24 | $599.2M | $-82.5M | ||
| Q3 24 | $434.4M | $44.6M | ||
| Q2 24 | $310.0M | $100.0M | ||
| Q1 24 | $236.2M | $68.0M |
毛利率APPBC
| Q4 25 | 95.2% | 23.1% | ||
| Q3 25 | 87.6% | 25.8% | ||
| Q2 25 | 87.7% | 25.5% | ||
| Q1 25 | 81.7% | 24.9% | ||
| Q4 24 | 76.7% | 21.9% | ||
| Q3 24 | 77.5% | 26.2% | ||
| Q2 24 | 73.8% | 27.1% | ||
| Q1 24 | 72.2% | 27.4% |
营业利润率APPBC
| Q4 25 | — | 3.1% | ||
| Q3 25 | 76.8% | -17.8% | ||
| Q2 25 | 76.1% | 7.1% | ||
| Q1 25 | 44.7% | 4.6% | ||
| Q4 24 | 44.3% | -4.8% | ||
| Q3 24 | 44.6% | 7.7% | ||
| Q2 24 | 36.2% | 11.0% | ||
| Q1 24 | 32.1% | 8.1% |
净利率APPBC
| Q4 25 | 82.7% | 1.4% | ||
| Q3 25 | 59.5% | -17.3% | ||
| Q2 25 | 65.1% | 4.1% | ||
| Q1 25 | 38.8% | 1.7% | ||
| Q4 24 | 43.6% | -7.1% | ||
| Q3 24 | 36.3% | 3.5% | ||
| Q2 24 | 28.7% | 6.9% | ||
| Q1 24 | 22.3% | 5.0% |
每股收益（稀释后）APPBC
| Q4 25 | $3.24 | $0.32 | ||
| Q3 25 | $2.45 | $-3.59 | ||
| Q2 25 | $2.39 | $0.89 | ||
| Q1 25 | $1.67 | $0.30 | ||
| Q4 24 | $1.72 | $-1.21 | ||
| Q3 24 | $1.25 | $0.67 | ||
| Q2 24 | $0.89 | $1.48 | ||
| Q1 24 | $0.67 | $0.99 |
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 | $256.8M |
| 总债务越低越好 | $3.5B | $2.1B |
| 股东权益账面价值 | $2.1B | $1.6B |
| 总资产 | $7.3B | $5.3B |
| 负债/权益比越低杠杆越低 | 1.65× | 1.30× |
8季度趋势，按日历期对齐
现金及短期投资APPBC
| Q4 25 | $2.5B | $256.8M | ||
| Q3 25 | $1.7B | $297.7M | ||
| Q2 25 | $1.2B | $315.7M | ||
| Q1 25 | $551.0M | $286.7M | ||
| Q4 24 | $741.4M | $269.0M | ||
| Q3 24 | $567.6M | $284.1M | ||
| Q2 24 | $460.4M | $494.5M | ||
| Q1 24 | $436.3M | $548.4M |
总债务APPBC
| Q4 25 | $3.5B | $2.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | $2.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPBC
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $575.4M | $1.9B | ||
| Q4 24 | $1.1B | $1.9B | ||
| Q3 24 | $938.2M | $2.0B | ||
| Q2 24 | $814.8M | $2.0B | ||
| Q1 24 | $760.2M | $2.0B |
总资产APPBC
| Q4 25 | $7.3B | $5.3B | ||
| Q3 25 | $6.3B | $5.4B | ||
| Q2 25 | $6.0B | $5.8B | ||
| Q1 25 | $5.7B | $5.9B | ||
| Q4 24 | $5.9B | $5.7B | ||
| Q3 24 | $5.4B | $6.0B | ||
| Q2 24 | $5.3B | $6.4B | ||
| Q1 24 | $5.3B | $6.5B |
负债/权益比APPBC
| Q4 25 | 1.65× | 1.30× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.22× | 1.25× | ||
| 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 | $132.9M |
| 自由现金流经营现金流 - 资本支出 | — | $83.6M |
| 自由现金流率自由现金流/营收 | — | 6.3% |
| 资本支出强度资本支出/营收 | — | 3.7% |
| 现金转化率经营现金流/净利润 | 1.19× | 7.11× |
| 过去12个月自由现金流最近4个季度 | — | $396.3M |
8季度趋势，按日历期对齐
经营现金流APPBC
| Q4 25 | $1.3B | $132.9M | ||
| Q3 25 | $1.1B | $140.4M | ||
| Q2 25 | $772.2M | $316.2M | ||
| Q1 25 | $831.7M | $-27.4M | ||
| Q4 24 | $701.0M | $306.4M | ||
| Q3 24 | $550.7M | $67.4M | ||
| Q2 24 | $454.5M | $211.0M | ||
| Q1 24 | $392.8M | $-153.4M |
自由现金流APPBC
| Q4 25 | — | $83.6M | ||
| Q3 25 | — | $106.5M | ||
| Q2 25 | — | $271.3M | ||
| Q1 25 | — | $-65.1M | ||
| Q4 24 | — | $276.1M | ||
| Q3 24 | — | $31.4M | ||
| Q2 24 | — | $163.9M | ||
| Q1 24 | — | $-207.4M |
自由现金流率APPBC
| Q4 25 | — | 6.3% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | — | -5.3% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 11.4% | ||
| Q1 24 | — | -15.2% |
资本支出强度APPBC
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 4.0% |
现金转化率APPBC
| Q4 25 | 1.19× | 7.11× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | 5.33× | ||
| Q1 25 | 1.44× | -1.36× | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | 1.27× | 1.51× | ||
| Q2 24 | 1.47× | 2.11× | ||
| Q1 24 | 1.66× | -2.26× |
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
APP
| Other | $673.9M | 51% |
| US | $659.0M | 49% |
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
