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AppLovin Corp（APP）与Healthpeak Properties（DOC）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Healthpeak Properties的1.9倍（$1.3B vs $719.4M），AppLovin Corp净利率更高（82.7% vs 73.2%，领先9.5%），Healthpeak Properties同比增速更快（3.1% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 8.9%）
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。
Healthpeak Properties是美国医疗地产领域的房地产投资信托基金，核心投资范畴覆盖老年住宅、生命科学相关物业及医疗办公楼三类资产。公司2007年于马里兰州组建，总部设在科罗拉多州丹佛市，在尔湾、纳什维尔、旧金山均设有办事处，截至2019年12月31日共持有617处物业的权益。
APP vs DOC — 直观对比
营收规模更大
APP
是对方的1.9倍
$719.4M
营收增速更快
DOC
高出6.0%
-2.9%
净利率更高
APP
高出9.5%
73.2%
两年增速更快
APP
近两年复合增速
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $719.4M |
| 净利润 | $1.1B | $114.0M |
| 毛利率 | 95.2% | — |
| 营业利润率 | — | 17.4% |
| 净利率 | 82.7% | 73.2% |
| 营收同比 | -2.9% | 3.1% |
| 净利润同比 | 84.0% | 2406.4% |
| 每股收益（稀释后） | $3.24 | $0.16 |
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APPDOC
| Q4 25 | $1.3B | $719.4M | ||
| Q3 25 | $1.4B | $705.9M | ||
| Q2 25 | $1.3B | $694.3M | ||
| Q1 25 | $1.5B | $702.9M | ||
| Q4 24 | $1.4B | $698.0M | ||
| Q3 24 | $1.2B | $700.4M | ||
| Q2 24 | $1.1B | $695.5M | ||
| Q1 24 | $1.1B | $606.6M |
净利润APPDOC
| Q4 25 | $1.1B | $114.0M | ||
| Q3 25 | $835.5M | $-117.1M | ||
| Q2 25 | $819.5M | $31.7M | ||
| Q1 25 | $576.4M | $42.8M | ||
| Q4 24 | $599.2M | $4.5M | ||
| Q3 24 | $434.4M | $85.9M | ||
| Q2 24 | $310.0M | $146.0M | ||
| Q1 24 | $236.2M | $6.7M |
毛利率APPDOC
| Q4 25 | 95.2% | — | ||
| Q3 25 | 87.6% | 58.6% | ||
| Q2 25 | 87.7% | 60.2% | ||
| Q1 25 | 81.7% | 61.1% | ||
| Q4 24 | 76.7% | 60.3% | ||
| Q3 24 | 77.5% | 60.0% | ||
| Q2 24 | 73.8% | 60.6% | ||
| Q1 24 | 72.2% | 59.8% |
营业利润率APPDOC
| Q4 25 | — | 17.4% | ||
| Q3 25 | 76.8% | 9.2% | ||
| Q2 25 | 76.1% | 5.7% | ||
| Q1 25 | 44.7% | 7.7% | ||
| Q4 24 | 44.3% | -2.2% | ||
| Q3 24 | 44.6% | 14.1% | ||
| Q2 24 | 36.2% | 22.3% | ||
| Q1 24 | 32.1% | 3.7% |
净利率APPDOC
| Q4 25 | 82.7% | 73.2% | ||
| Q3 25 | 59.5% | -16.6% | ||
| Q2 25 | 65.1% | 4.6% | ||
| Q1 25 | 38.8% | 6.1% | ||
| Q4 24 | 43.6% | 0.7% | ||
| Q3 24 | 36.3% | 12.3% | ||
| Q2 24 | 28.7% | 21.0% | ||
| Q1 24 | 22.3% | 1.1% |
每股收益（稀释后）APPDOC
| Q4 25 | $3.24 | $0.16 | ||
| Q3 25 | $2.45 | $-0.17 | ||
| Q2 25 | $2.39 | $0.05 | ||
| Q1 25 | $1.67 | $0.06 | ||
| Q4 24 | $1.72 | $0.02 | ||
| Q3 24 | $1.25 | $0.12 | ||
| Q2 24 | $0.89 | $0.21 | ||
| Q1 24 | $0.67 | $0.01 |
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 | $467.5M |
| 总债务越低越好 | $3.5B | $9.8B |
| 股东权益账面价值 | $2.1B | $7.5B |
| 总资产 | $7.3B | $20.3B |
| 负债/权益比越低杠杆越低 | 1.65× | 1.31× |
8季度趋势，按日历期对齐
现金及短期投资APPDOC
| Q4 25 | $2.5B | $467.5M | ||
| Q3 25 | $1.7B | $91.0M | ||
| Q2 25 | $1.2B | $89.4M | ||
| Q1 25 | $551.0M | $70.6M | ||
| Q4 24 | $741.4M | $119.8M | ||
| Q3 24 | $567.6M | $180.4M | ||
| Q2 24 | $460.4M | $106.9M | ||
| Q1 24 | $436.3M | $101.8M |
总债务APPDOC
| Q4 25 | $3.5B | $9.8B | ||
| Q3 25 | — | $9.1B | ||
| Q2 25 | — | $9.0B | ||
| Q1 25 | — | $8.9B | ||
| Q4 24 | $3.5B | $8.7B | ||
| Q3 24 | — | $8.6B | ||
| Q2 24 | — | $8.6B | ||
| Q1 24 | — | $8.8B |
股东权益APPDOC
| Q4 25 | $2.1B | $7.5B | ||
| Q3 25 | $1.5B | $7.6B | ||
| Q2 25 | $1.2B | $7.9B | ||
| Q1 25 | $575.4M | $8.2B | ||
| Q4 24 | $1.1B | $8.4B | ||
| Q3 24 | $938.2M | $8.6B | ||
| Q2 24 | $814.8M | $8.8B | ||
| Q1 24 | $760.2M | $8.9B |
总资产APPDOC
| Q4 25 | $7.3B | $20.3B | ||
| Q3 25 | $6.3B | $19.6B | ||
| Q2 25 | $6.0B | $19.8B | ||
| Q1 25 | $5.7B | $19.8B | ||
| Q4 24 | $5.9B | $19.9B | ||
| Q3 24 | $5.4B | $20.0B | ||
| Q2 24 | $5.3B | $20.2B | ||
| Q1 24 | $5.3B | $20.5B |
负债/权益比APPDOC
| Q4 25 | 1.65× | 1.31× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 1.14× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | 3.22× | 1.04× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 0.99× |
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 | $1.3B |
| 自由现金流经营现金流 - 资本支出 | — | $357.0M |
| 自由现金流率自由现金流/营收 | — | 49.6% |
| 资本支出强度资本支出/营收 | — | 124.4% |
| 现金转化率经营现金流/净利润 | 1.19× | 10.99× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APPDOC
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.1B | $315.0M | ||
| Q2 25 | $772.2M | $363.5M | ||
| Q1 25 | $831.7M | $279.4M | ||
| Q4 24 | $701.0M | $1.1B | ||
| Q3 24 | $550.7M | $318.2M | ||
| Q2 24 | $454.5M | $316.2M | ||
| Q1 24 | $392.8M | $152.6M |
自由现金流APPDOC
| Q4 25 | — | $357.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $333.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率APPDOC
| Q4 25 | — | 49.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 47.8% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度APPDOC
| Q4 25 | — | 124.4% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 105.6% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率APPDOC
| Q4 25 | 1.19× | 10.99× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | 11.48× | ||
| Q1 25 | 1.44× | 6.52× | ||
| Q4 24 | 1.17× | 235.43× | ||
| Q3 24 | 1.27× | 3.71× | ||
| Q2 24 | 1.47× | 2.17× | ||
| Q1 24 | 1.66× | 22.85× |
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% |
DOC
暂无分部数据
