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AppLovin Corp（APP）与Datadog（DDOG）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Datadog的1.4倍（$1.3B vs $953.2M），AppLovin Corp净利率更高（82.7% vs 4.9%，领先77.8%），Datadog同比增速更快（29.2% vs -2.9%），过去两年Datadog的营收复合增速更高（24.9% 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。
Datadog是一家美国企业，为云级应用提供可观测性服务，旗下SaaS数据分析平台可实现对服务器、数据库、各类工具及服务的统一监控。公司成立并总部位于纽约，目前在纳斯达克证券交易所公开上市。
APP vs DDOG — 直观对比
营收规模更大
APP
是对方的1.4倍
$953.2M
营收增速更快
DDOG
高出32.1%
-2.9%
净利率更高
APP
高出77.8%
4.9%
两年增速更快
DDOG
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $953.2M |
| 净利润 | $1.1B | $46.6M |
| 毛利率 | 95.2% | 80.4% |
| 营业利润率 | — | 1.0% |
| 净利率 | 82.7% | 4.9% |
| 营收同比 | -2.9% | 29.2% |
| 净利润同比 | 84.0% | 2.1% |
| 每股收益（稀释后） | $3.24 | $0.13 |
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APPDDOG
| Q4 25 | $1.3B | $953.2M | ||
| Q3 25 | $1.4B | $885.7M | ||
| Q2 25 | $1.3B | $826.8M | ||
| Q1 25 | $1.5B | $761.6M | ||
| Q4 24 | $1.4B | $737.7M | ||
| Q3 24 | $1.2B | $690.0M | ||
| Q2 24 | $1.1B | $645.3M | ||
| Q1 24 | $1.1B | $611.3M |
净利润APPDDOG
| Q4 25 | $1.1B | $46.6M | ||
| Q3 25 | $835.5M | $33.9M | ||
| Q2 25 | $819.5M | $2.6M | ||
| Q1 25 | $576.4M | $24.6M | ||
| Q4 24 | $599.2M | $45.6M | ||
| Q3 24 | $434.4M | $51.7M | ||
| Q2 24 | $310.0M | $43.8M | ||
| Q1 24 | $236.2M | $42.6M |
毛利率APPDDOG
| Q4 25 | 95.2% | 80.4% | ||
| Q3 25 | 87.6% | 80.1% | ||
| Q2 25 | 87.7% | 79.9% | ||
| Q1 25 | 81.7% | 79.3% | ||
| Q4 24 | 76.7% | 80.5% | ||
| Q3 24 | 77.5% | 80.0% | ||
| Q2 24 | 73.8% | 80.9% | ||
| Q1 24 | 72.2% | 82.0% |
营业利润率APPDDOG
| Q4 25 | — | 1.0% | ||
| Q3 25 | 76.8% | -0.7% | ||
| Q2 25 | 76.1% | -4.3% | ||
| Q1 25 | 44.7% | -1.6% | ||
| Q4 24 | 44.3% | 1.3% | ||
| Q3 24 | 44.6% | 2.9% | ||
| Q2 24 | 36.2% | 2.0% | ||
| Q1 24 | 32.1% | 2.0% |
净利率APPDDOG
| Q4 25 | 82.7% | 4.9% | ||
| Q3 25 | 59.5% | 3.8% | ||
| Q2 25 | 65.1% | 0.3% | ||
| Q1 25 | 38.8% | 3.2% | ||
| Q4 24 | 43.6% | 6.2% | ||
| Q3 24 | 36.3% | 7.5% | ||
| Q2 24 | 28.7% | 6.8% | ||
| Q1 24 | 22.3% | 7.0% |
每股收益（稀释后）APPDDOG
| Q4 25 | $3.24 | $0.13 | ||
| Q3 25 | $2.45 | $0.10 | ||
| Q2 25 | $2.39 | $0.01 | ||
| Q1 25 | $1.67 | $0.07 | ||
| Q4 24 | $1.72 | $0.14 | ||
| Q3 24 | $1.25 | $0.14 | ||
| Q2 24 | $0.89 | $0.12 | ||
| Q1 24 | $0.67 | $0.12 |
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 | $401.3M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $3.7B |
| 总资产 | $7.3B | $6.6B |
| 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APPDDOG
| Q4 25 | $2.5B | $401.3M | ||
| Q3 25 | $1.7B | $540.6M | ||
| Q2 25 | $1.2B | $489.0M | ||
| Q1 25 | $551.0M | $1.1B | ||
| Q4 24 | $741.4M | $1.2B | ||
| Q3 24 | $567.6M | $337.4M | ||
| Q2 24 | $460.4M | $411.0M | ||
| Q1 24 | $436.3M | $282.2M |
总债务APPDDOG
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPDDOG
| Q4 25 | $2.1B | $3.7B | ||
| Q3 25 | $1.5B | $3.4B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $575.4M | $2.9B | ||
| Q4 24 | $1.1B | $2.7B | ||
| Q3 24 | $938.2M | $2.6B | ||
| Q2 24 | $814.8M | $2.4B | ||
| Q1 24 | $760.2M | $2.2B |
总资产APPDDOG
| Q4 25 | $7.3B | $6.6B | ||
| Q3 25 | $6.3B | $6.1B | ||
| Q2 25 | $6.0B | $5.8B | ||
| Q1 25 | $5.7B | $6.0B | ||
| Q4 24 | $5.9B | $5.8B | ||
| Q3 24 | $5.4B | $4.6B | ||
| Q2 24 | $5.3B | $4.4B | ||
| Q1 24 | $5.3B | $4.1B |
负债/权益比APPDDOG
| 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 | $327.1M |
| 自由现金流经营现金流 - 资本支出 | — | $318.2M |
| 自由现金流率自由现金流/营收 | — | 33.4% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 1.19× | 7.02× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流APPDDOG
| Q4 25 | $1.3B | $327.1M | ||
| Q3 25 | $1.1B | $251.5M | ||
| Q2 25 | $772.2M | $200.1M | ||
| Q1 25 | $831.7M | $271.5M | ||
| Q4 24 | $701.0M | $265.2M | ||
| Q3 24 | $550.7M | $228.7M | ||
| Q2 24 | $454.5M | $164.4M | ||
| Q1 24 | $392.8M | $212.3M |
自由现金流APPDDOG
| Q4 25 | — | $318.2M | ||
| Q3 25 | — | $234.7M | ||
| Q2 25 | — | $184.9M | ||
| Q1 25 | — | $262.8M | ||
| Q4 24 | — | $257.5M | ||
| Q3 24 | — | $220.3M | ||
| Q2 24 | — | $160.0M | ||
| Q1 24 | — | $198.1M |
自由现金流率APPDDOG
| Q4 25 | — | 33.4% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 22.4% | ||
| Q1 25 | — | 34.5% | ||
| Q4 24 | — | 34.9% | ||
| Q3 24 | — | 31.9% | ||
| Q2 24 | — | 24.8% | ||
| Q1 24 | — | 32.4% |
资本支出强度APPDDOG
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 2.3% |
现金转化率APPDDOG
| Q4 25 | 1.19× | 7.02× | ||
| Q3 25 | 1.26× | 7.42× | ||
| Q2 25 | 0.94× | 75.58× | ||
| Q1 25 | 1.44× | 11.02× | ||
| Q4 24 | 1.17× | 5.82× | ||
| Q3 24 | 1.27× | 4.42× | ||
| Q2 24 | 1.47× | 3.75× | ||
| Q1 24 | 1.66× | 4.98× |
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% |
DDOG
| North America | $678.7M | 71% |
| International | $274.5M | 29% |
