vs
AppLovin Corp（APP）与基华物流（CEVA）财务数据对比。点击上方公司名可切换其他公司
AppLovin Corp的季度营收约是基华物流的42.6倍（$1.3B vs $31.3M）。AppLovin Corp净利率更高（82.7% vs -3.5%，领先86.2%）。基华物流同比增速更快（7.1% vs -2.9%）。过去两年基华物流的营收复合增速更高（19.1% 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。
赛物流是一家全球物流与供应链企业，提供货运管理以及合约物流服务，2019年被达飞海运集团收购。收购完成后，达飞集团陆续将英格迈微商务生命周期服务、GEFCO等多家物流运输企业并入赛物流，助力其业务发展与规模扩张。
APP vs CEVA — 直观对比
营收规模更大
APP
是对方的42.6倍
$31.3M
营收增速更快
CEVA
高出10.0%
-2.9%
净利率更高
APP
高出86.2%
-3.5%
两年增速更快
CEVA
近两年复合增速
12.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $31.3M |
| 净利润 | $1.1B | $-1.1M |
| 毛利率 | 95.2% | 88.1% |
| 营业利润率 | — | -1.3% |
| 净利率 | 82.7% | -3.5% |
| 营收同比 | -2.9% | 7.1% |
| 净利润同比 | 84.0% | 36.8% |
| 每股收益（稀释后） | $3.24 | — |
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APPCEVA
| Q4 25 | $1.3B | $31.3M | ||
| Q3 25 | $1.4B | $28.4M | ||
| Q2 25 | $1.3B | $25.7M | ||
| Q1 25 | $1.5B | $24.2M | ||
| Q4 24 | $1.4B | $29.2M | ||
| Q3 24 | $1.2B | $27.2M | ||
| Q2 24 | $1.1B | $28.4M | ||
| Q1 24 | $1.1B | $22.1M |
净利润APPCEVA
| Q4 25 | $1.1B | $-1.1M | ||
| Q3 25 | $835.5M | $-2.5M | ||
| Q2 25 | $819.5M | $-3.7M | ||
| Q1 25 | $576.4M | $-3.3M | ||
| Q4 24 | $599.2M | $-1.7M | ||
| Q3 24 | $434.4M | $-1.3M | ||
| Q2 24 | $310.0M | $-291.0K | ||
| Q1 24 | $236.2M | $-5.4M |
毛利率APPCEVA
| Q4 25 | 95.2% | 88.1% | ||
| Q3 25 | 87.6% | 88.0% | ||
| Q2 25 | 87.7% | 86.2% | ||
| Q1 25 | 81.7% | 85.6% | ||
| Q4 24 | 76.7% | 88.5% | ||
| Q3 24 | 77.5% | 85.4% | ||
| Q2 24 | 73.8% | 89.7% | ||
| Q1 24 | 72.2% | 88.7% |
营业利润率APPCEVA
| Q4 25 | — | -1.3% | ||
| Q3 25 | 76.8% | -7.3% | ||
| Q2 25 | 76.1% | -17.5% | ||
| Q1 25 | 44.7% | -18.1% | ||
| Q4 24 | 44.3% | 0.3% | ||
| Q3 24 | 44.6% | -9.6% | ||
| Q2 24 | 36.2% | -0.1% | ||
| Q1 24 | 32.1% | -22.5% |
净利率APPCEVA
| Q4 25 | 82.7% | -3.5% | ||
| Q3 25 | 59.5% | -8.8% | ||
| Q2 25 | 65.1% | -14.4% | ||
| Q1 25 | 38.8% | -13.7% | ||
| Q4 24 | 43.6% | -5.9% | ||
| Q3 24 | 36.3% | -4.8% | ||
| Q2 24 | 28.7% | -1.0% | ||
| Q1 24 | 22.3% | -24.7% |
每股收益（稀释后）APPCEVA
| Q4 25 | $3.24 | — | ||
| Q3 25 | $2.45 | — | ||
| Q2 25 | $2.39 | — | ||
| Q1 25 | $1.67 | — | ||
| Q4 24 | $1.72 | — | ||
| Q3 24 | $1.25 | — | ||
| Q2 24 | $0.89 | — | ||
| Q1 24 | $0.67 | — |
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 | $40.6M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $336.5M |
| 总资产 | $7.3B | $388.3M |
| 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APPCEVA
| Q4 25 | $2.5B | $40.6M | ||
| Q3 25 | $1.7B | $17.3M | ||
| Q2 25 | $1.2B | $29.1M | ||
| Q1 25 | $551.0M | $18.8M | ||
| Q4 24 | $741.4M | $18.8M | ||
| Q3 24 | $567.6M | $13.2M | ||
| Q2 24 | $460.4M | $25.0M | ||
| Q1 24 | $436.3M | $21.6M |
总债务APPCEVA
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPCEVA
| Q4 25 | $2.1B | $336.5M | ||
| Q3 25 | $1.5B | $268.7M | ||
| Q2 25 | $1.2B | $265.9M | ||
| Q1 25 | $575.4M | $269.1M | ||
| Q4 24 | $1.1B | $266.6M | ||
| Q3 24 | $938.2M | $265.8M | ||
| Q2 24 | $814.8M | $263.8M | ||
| Q1 24 | $760.2M | $262.3M |
总资产APPCEVA
| Q4 25 | $7.3B | $388.3M | ||
| Q3 25 | $6.3B | $306.0M | ||
| Q2 25 | $6.0B | $302.8M | ||
| Q1 25 | $5.7B | $310.0M | ||
| Q4 24 | $5.9B | $308.9M | ||
| Q3 24 | $5.4B | $304.9M | ||
| Q2 24 | $5.3B | $300.4M | ||
| Q1 24 | $5.3B | $301.4M |
负债/权益比APPCEVA
| 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 | $8.7M |
| 自由现金流经营现金流 - 资本支出 | — | $7.2M |
| 自由现金流率自由现金流/营收 | — | 23.1% |
| 资本支出强度资本支出/营收 | — | 4.8% |
| 现金转化率经营现金流/净利润 | 1.19× | — |
| 过去12个月自由现金流最近4个季度 | — | $-6.3M |
8季度趋势，按日历期对齐
经营现金流APPCEVA
| Q4 25 | $1.3B | $8.7M | ||
| Q3 25 | $1.1B | $-5.9M | ||
| Q2 25 | $772.2M | $1.2M | ||
| Q1 25 | $831.7M | $-7.4M | ||
| Q4 24 | $701.0M | $8.0M | ||
| Q3 24 | $550.7M | $399.0K | ||
| Q2 24 | $454.5M | $2.4M | ||
| Q1 24 | $392.8M | $-7.3M |
自由现金流APPCEVA
| Q4 25 | — | $7.2M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | $492.0K | ||
| Q1 25 | — | $-7.7M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | — | $-15.0K | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-8.3M |
自由现金流率APPCEVA
| Q4 25 | — | 23.1% | ||
| Q3 25 | — | -22.1% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -31.8% | ||
| Q4 24 | — | 24.0% | ||
| Q3 24 | — | -0.1% | ||
| Q2 24 | — | 6.2% | ||
| Q1 24 | — | -37.4% |
资本支出强度APPCEVA
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 4.1% |
现金转化率APPCEVA
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.66× | — |
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
暂无分部数据
CEVA
| Transferred At Point In Time | $28.1M | 90% |
| Transferred Over Time | $3.2M | 10% |
