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AppLovin Corp（APP）与CALERES INC（CAL）财务数据对比。点击上方公司名可切换其他公司
AppLovin Corp的季度营收约是CALERES INC的1.7倍（$1.3B vs $790.1M），AppLovin Corp净利率更高（82.7% vs 0.3%，领先82.4%），CALERES INC同比增速更快（6.6% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 6.5%）
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。
Caleres Inc是一家美国鞋履企业，旗下拥有并运营多个鞋履品牌，总部坐落于圣路易斯郊区密苏里州克莱顿。该企业前身是1878年在圣路易斯成立的Bryan, Brown & Company，此后历经多次更名，其前身汉密尔顿-布朗鞋业在20世纪初曾是美国最大的鞋履制造商。
APP vs CAL — 直观对比
营收规模更大
APP
是对方的1.7倍
$790.1M
营收增速更快
CAL
高出9.5%
-2.9%
净利率更高
APP
高出82.4%
0.3%
两年增速更快
APP
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $790.1M |
| 净利润 | $1.1B | $2.4M |
| 毛利率 | 95.2% | 41.8% |
| 营业利润率 | — | 1.5% |
| 净利率 | 82.7% | 0.3% |
| 营收同比 | -2.9% | 6.6% |
| 净利润同比 | 84.0% | -94.2% |
| 每股收益（稀释后） | $3.24 | $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APPCAL
| Q4 25 | $1.3B | $790.1M | ||
| Q3 25 | $1.4B | $658.5M | ||
| Q2 25 | $1.3B | $614.2M | ||
| Q1 25 | $1.5B | $639.2M | ||
| Q4 24 | $1.4B | $740.9M | ||
| Q3 24 | $1.2B | $683.3M | ||
| Q2 24 | $1.1B | $659.2M | ||
| Q1 24 | $1.1B | $697.1M |
净利润APPCAL
| Q4 25 | $1.1B | $2.4M | ||
| Q3 25 | $835.5M | $6.7M | ||
| Q2 25 | $819.5M | $6.9M | ||
| Q1 25 | $576.4M | $4.9M | ||
| Q4 24 | $599.2M | $41.4M | ||
| Q3 24 | $434.4M | $30.0M | ||
| Q2 24 | $310.0M | $30.9M | ||
| Q1 24 | $236.2M | $55.7M |
毛利率APPCAL
| Q4 25 | 95.2% | 41.8% | ||
| Q3 25 | 87.6% | 43.4% | ||
| Q2 25 | 87.7% | 45.4% | ||
| Q1 25 | 81.7% | 43.0% | ||
| Q4 24 | 76.7% | 44.1% | ||
| Q3 24 | 77.5% | 45.5% | ||
| Q2 24 | 73.8% | 46.9% | ||
| Q1 24 | 72.2% | 43.9% |
营业利润率APPCAL
| Q4 25 | — | 1.5% | ||
| Q3 25 | 76.8% | 1.4% | ||
| Q2 25 | 76.1% | 1.9% | ||
| Q1 25 | 44.7% | 1.2% | ||
| Q4 24 | 44.3% | 7.7% | ||
| Q3 24 | 44.6% | 6.2% | ||
| Q2 24 | 36.2% | 6.5% | ||
| Q1 24 | 32.1% | 4.4% |
净利率APPCAL
| Q4 25 | 82.7% | 0.3% | ||
| Q3 25 | 59.5% | 1.0% | ||
| Q2 25 | 65.1% | 1.1% | ||
| Q1 25 | 38.8% | 0.8% | ||
| Q4 24 | 43.6% | 5.6% | ||
| Q3 24 | 36.3% | 4.4% | ||
| Q2 24 | 28.7% | 4.7% | ||
| Q1 24 | 22.3% | 8.0% |
每股收益（稀释后）APPCAL
| Q4 25 | $3.24 | $0.07 | ||
| Q3 25 | $2.45 | $0.20 | ||
| Q2 25 | $2.39 | $0.21 | ||
| Q1 25 | $1.67 | $0.17 | ||
| Q4 24 | $1.72 | $1.19 | ||
| Q3 24 | $1.25 | $0.85 | ||
| Q2 24 | $0.89 | $0.88 | ||
| Q1 24 | $0.67 | $1.56 |
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 | $34.0M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $616.8M |
| 总资产 | $7.3B | $2.1B |
| 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APPCAL
| Q4 25 | $2.5B | $34.0M | ||
| Q3 25 | $1.7B | $191.5M | ||
| Q2 25 | $1.2B | $33.1M | ||
| Q1 25 | $551.0M | $29.6M | ||
| Q4 24 | $741.4M | $33.7M | ||
| Q3 24 | $567.6M | $51.8M | ||
| Q2 24 | $460.4M | $30.7M | ||
| Q1 24 | $436.3M | $21.4M |
总债务APPCAL
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPCAL
| Q4 25 | $2.1B | $616.8M | ||
| Q3 25 | $1.5B | $613.3M | ||
| Q2 25 | $1.2B | $605.2M | ||
| Q1 25 | $575.4M | $599.0M | ||
| Q4 24 | $1.1B | $598.3M | ||
| Q3 24 | $938.2M | $606.1M | ||
| Q2 24 | $814.8M | $570.3M | ||
| Q1 24 | $760.2M | $560.6M |
总资产APPCAL
| Q4 25 | $7.3B | $2.1B | ||
| Q3 25 | $6.3B | $2.2B | ||
| Q2 25 | $6.0B | $1.9B | ||
| Q1 25 | $5.7B | $1.9B | ||
| Q4 24 | $5.9B | $2.0B | ||
| Q3 24 | $5.4B | $2.0B | ||
| Q2 24 | $5.3B | $1.9B | ||
| Q1 24 | $5.3B | $1.8B |
负债/权益比APPCAL
| 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 | $-1.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-12.4M |
| 自由现金流率自由现金流/营收 | — | -1.6% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 现金转化率经营现金流/净利润 | 1.19× | -0.50× |
| 过去12个月自由现金流最近4个季度 | — | $14.4M |
8季度趋势，按日历期对齐
经营现金流APPCAL
| Q4 25 | $1.3B | $-1.2M | ||
| Q3 25 | $1.1B | $47.3M | ||
| Q2 25 | $772.2M | $-5.7M | ||
| Q1 25 | $831.7M | $28.7M | ||
| Q4 24 | $701.0M | $-39.8M | ||
| Q3 24 | $550.7M | $79.6M | ||
| Q2 24 | $454.5M | $36.1M | ||
| Q1 24 | $392.8M | $43.0M |
自由现金流APPCAL
| Q4 25 | — | $-12.4M | ||
| Q3 25 | — | $35.0M | ||
| Q2 25 | — | $-26.2M | ||
| Q1 25 | — | $18.0M | ||
| Q4 24 | — | $-57.4M | ||
| Q3 24 | — | $68.5M | ||
| Q2 24 | — | $26.3M | ||
| Q1 24 | — | $32.4M |
自由现金流率APPCAL
| Q4 25 | — | -1.6% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | -4.3% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | -7.7% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 4.6% |
资本支出强度APPCAL
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.5% |
现金转化率APPCAL
| Q4 25 | 1.19× | -0.50× | ||
| Q3 25 | 1.26× | 7.05× | ||
| Q2 25 | 0.94× | -0.81× | ||
| Q1 25 | 1.44× | 5.82× | ||
| Q4 24 | 1.17× | -0.96× | ||
| Q3 24 | 1.27× | 2.66× | ||
| Q2 24 | 1.47× | 1.17× | ||
| Q1 24 | 1.66× | 0.77× |
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% |
CAL
| Brand Portfolio | $383.7M | 49% |
| Landed Wholesale | $148.1M | 19% |
| Wholesale E Commerce | $75.0M | 9% |
| Ecommerce | $68.8M | 9% |
| Stuart Weitzman Brand | $45.8M | 6% |
| Landed Wholesale Ecommerce Drop Ship | $30.6M | 4% |
| First Cost Wholesale | $14.9M | 2% |
| Clt Brand Solutions | $10.2M | 1% |
| License And Royalty | $2.1M | 0% |
