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AppLovin Corp（APP）与塞拉尼斯（CE）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是AppLovin Corp的1.3倍（$2.3B vs $1.8B），AppLovin Corp净利率更高（65.5% vs 2.1%，领先63.4%），AppLovin Corp同比增速更快（59.0% vs -2.2%），AppLovin Corp自由现金流更多（$1.3B vs $3.0M），过去两年AppLovin Corp的营收复合增速更高（30.6% vs -6.1%）
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。
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
APP vs CE — 直观对比
营收规模更大
CE
是对方的1.3倍
$1.8B
营收增速更快
APP
高出61.1%
-2.2%
净利率更高
APP
高出63.4%
2.1%
自由现金流更多
APP
多$1.3B
$3.0M
两年增速更快
APP
近两年复合增速
-6.1%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.3B |
| 净利润 | $1.2B | $48.0M |
| 毛利率 | 88.9% | 20.0% |
| 营业利润率 | 78.2% | — |
| 净利率 | 65.5% | 2.1% |
| 营收同比 | 59.0% | -2.2% |
| 净利润同比 | 109.2% | 340.0% |
| 每股收益（稀释后） | $3.56 | $0.41 |
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APPCE
| Q1 26 | $1.8B | $2.3B | ||
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.5B | $2.4B | ||
| Q4 24 | $1.4B | $2.4B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.1B | $2.7B |
净利润APPCE
| Q1 26 | $1.2B | $48.0M | ||
| Q4 25 | $1.1B | $14.0M | ||
| Q3 25 | $835.5M | $-1.4B | ||
| Q2 25 | $819.5M | $199.0M | ||
| Q1 25 | $576.4M | $-21.0M | ||
| Q4 24 | $599.2M | $-1.9B | ||
| Q3 24 | $434.4M | $116.0M | ||
| Q2 24 | $310.0M | $155.0M |
毛利率APPCE
| Q1 26 | 88.9% | 20.0% | ||
| Q4 25 | 95.2% | 19.1% | ||
| Q3 25 | 87.6% | 21.5% | ||
| Q2 25 | 87.7% | 21.1% | ||
| Q1 25 | 81.7% | 19.9% | ||
| Q4 24 | 76.7% | 22.7% | ||
| Q3 24 | 77.5% | 23.5% | ||
| Q2 24 | 73.8% | 24.2% |
营业利润率APPCE
| Q1 26 | 78.2% | — | ||
| Q4 25 | — | 4.0% | ||
| Q3 25 | 76.8% | -52.7% | ||
| Q2 25 | 76.1% | 9.2% | ||
| Q1 25 | 44.7% | 7.0% | ||
| Q4 24 | 44.3% | -59.3% | ||
| Q3 24 | 44.6% | 9.4% | ||
| Q2 24 | 36.2% | 9.4% |
净利率APPCE
| Q1 26 | 65.5% | 2.1% | ||
| Q4 25 | 82.7% | 0.6% | ||
| Q3 25 | 59.5% | -56.1% | ||
| Q2 25 | 65.1% | 7.9% | ||
| Q1 25 | 38.8% | -0.9% | ||
| Q4 24 | 43.6% | -80.8% | ||
| Q3 24 | 36.3% | 4.4% | ||
| Q2 24 | 28.7% | 5.8% |
每股收益（稀释后）APPCE
| Q1 26 | $3.56 | $0.41 | ||
| Q4 25 | $3.24 | $0.13 | ||
| Q3 25 | $2.45 | $-12.39 | ||
| Q2 25 | $2.39 | $1.81 | ||
| Q1 25 | $1.67 | $-0.19 | ||
| Q4 24 | $1.72 | $-17.50 | ||
| Q3 24 | $1.25 | $1.06 | ||
| Q2 24 | $0.89 | $1.41 |
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 | $2.8B | $1.8M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.4B | $4.5M |
| 总资产 | $7.7B | $21.7M |
| 负债/权益比越低杠杆越低 | 1.49× | — |
8季度趋势，按日历期对齐
现金及短期投资APPCE
| Q1 26 | $2.8B | $1.8M | ||
| 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 | — |
总债务APPCE
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $11.4B | ||
| Q3 25 | — | $11.7B | ||
| Q2 25 | — | $12.7B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | $3.5B | $11.1B | ||
| Q3 24 | — | $11.3B | ||
| Q2 24 | — | $11.1B |
股东权益APPCE
| Q1 26 | $2.4B | $4.5M | ||
| Q4 25 | $2.1B | $4.0B | ||
| Q3 25 | $1.5B | $4.0B | ||
| Q2 25 | $1.2B | $5.3B | ||
| Q1 25 | $575.4M | $5.2B | ||
| Q4 24 | $1.1B | $5.2B | ||
| Q3 24 | $938.2M | $7.3B | ||
| Q2 24 | $814.8M | $7.2B |
总资产APPCE
| Q1 26 | $7.7B | $21.7M | ||
| Q4 25 | $7.3B | $21.7B | ||
| Q3 25 | $6.3B | $22.2B | ||
| Q2 25 | $6.0B | $23.7B | ||
| Q1 25 | $5.7B | $23.2B | ||
| Q4 24 | $5.9B | $22.9B | ||
| Q3 24 | $5.4B | $25.9B | ||
| Q2 24 | $5.3B | $25.8B |
负债/权益比APPCE
| Q1 26 | 1.49× | — | ||
| Q4 25 | 1.65× | 2.81× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 2.39× | ||
| Q4 24 | 3.22× | 2.14× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | — | 1.54× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $3.0M |
| 自由现金流率自由现金流/营收 | 69.8% | 0.1% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | 1.07× | — |
| 过去12个月自由现金流最近4个季度 | — | $871.0M |
8季度趋势，按日历期对齐
经营现金流APPCE
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $252.0M | ||
| Q3 25 | $1.1B | $447.0M | ||
| Q2 25 | $772.2M | $410.0M | ||
| Q1 25 | $831.7M | $37.0M | ||
| Q4 24 | $701.0M | $494.0M | ||
| Q3 24 | $550.7M | $79.0M | ||
| Q2 24 | $454.5M | $292.0M |
自由现金流APPCE
| Q1 26 | $1.3B | $3.0M | ||
| Q4 25 | — | $168.0M | ||
| Q3 25 | — | $383.0M | ||
| Q2 25 | — | $317.0M | ||
| Q1 25 | — | $-65.0M | ||
| Q4 24 | — | $389.0M | ||
| Q3 24 | — | $-9.0M | ||
| Q2 24 | — | $187.0M |
自由现金流率APPCE
| Q1 26 | 69.8% | 0.1% | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 15.8% | ||
| Q2 25 | — | 12.5% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | — | 16.4% | ||
| Q3 24 | — | -0.3% | ||
| Q2 24 | — | 7.1% |
资本支出强度APPCE
| Q1 26 | — | 2.8% | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 4.0% |
现金转化率APPCE
| Q1 26 | 1.07× | — | ||
| Q4 25 | 1.19× | 18.00× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | 2.06× | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | 1.27× | 0.68× | ||
| Q2 24 | 1.47× | 1.88× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
