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AppLovin Corp（APP）与EPAM Systems（EPAM）财务数据对比。点击上方公司名可切换其他公司
EPAM Systems的季度营收约是AppLovin Corp的1.1倍（$1.4B vs $1.3B），AppLovin Corp净利率更高（82.7% vs 7.8%，领先74.9%），EPAM Systems同比增速更快（12.8% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 9.9%）
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。
EPAM Systems是总部位于美国宾夕法尼亚州纽敦的企业，核心业务涵盖软件工程服务、数字平台研发、数字产品设计三大板块，同时是MACH联盟的创始成员，在全球数字化服务赛道拥有深厚的技术积累与行业认可度。
APP vs EPAM — 直观对比
营收规模更大
EPAM
是对方的1.1倍
$1.3B
营收增速更快
EPAM
高出15.7%
-2.9%
净利率更高
APP
高出74.9%
7.8%
两年增速更快
APP
近两年复合增速
9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $1.1B | $109.4M |
| 毛利率 | 95.2% | 30.1% |
| 营业利润率 | — | 10.6% |
| 净利率 | 82.7% | 7.8% |
| 营收同比 | -2.9% | 12.8% |
| 净利润同比 | 84.0% | 5.9% |
| 每股收益（稀释后） | $3.24 | $1.97 |
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APPEPAM
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.1B | $1.2B |
净利润APPEPAM
| Q4 25 | $1.1B | $109.4M | ||
| Q3 25 | $835.5M | $106.8M | ||
| Q2 25 | $819.5M | $88.0M | ||
| Q1 25 | $576.4M | $73.5M | ||
| Q4 24 | $599.2M | $103.3M | ||
| Q3 24 | $434.4M | $136.3M | ||
| Q2 24 | $310.0M | $98.6M | ||
| Q1 24 | $236.2M | $116.2M |
毛利率APPEPAM
| Q4 25 | 95.2% | 30.1% | ||
| Q3 25 | 87.6% | 29.5% | ||
| Q2 25 | 87.7% | 28.8% | ||
| Q1 25 | 81.7% | 26.9% | ||
| Q4 24 | 76.7% | 30.4% | ||
| Q3 24 | 77.5% | 34.6% | ||
| Q2 24 | 73.8% | 29.3% | ||
| Q1 24 | 72.2% | 28.4% |
营业利润率APPEPAM
| Q4 25 | — | 10.6% | ||
| Q3 25 | 76.8% | 10.4% | ||
| Q2 25 | 76.1% | 9.3% | ||
| Q1 25 | 44.7% | 7.6% | ||
| Q4 24 | 44.3% | 10.9% | ||
| Q3 24 | 44.6% | 15.2% | ||
| Q2 24 | 36.2% | 10.5% | ||
| Q1 24 | 32.1% | 9.5% |
净利率APPEPAM
| Q4 25 | 82.7% | 7.8% | ||
| Q3 25 | 59.5% | 7.7% | ||
| Q2 25 | 65.1% | 6.5% | ||
| Q1 25 | 38.8% | 5.6% | ||
| Q4 24 | 43.6% | 8.3% | ||
| Q3 24 | 36.3% | 11.7% | ||
| Q2 24 | 28.7% | 8.6% | ||
| Q1 24 | 22.3% | 10.0% |
每股收益（稀释后）APPEPAM
| Q4 25 | $3.24 | $1.97 | ||
| Q3 25 | $2.45 | $1.91 | ||
| Q2 25 | $2.39 | $1.56 | ||
| Q1 25 | $1.67 | $1.28 | ||
| Q4 24 | $1.72 | $1.80 | ||
| Q3 24 | $1.25 | $2.37 | ||
| Q2 24 | $0.89 | $1.70 | ||
| Q1 24 | $0.67 | $1.97 |
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 | $1.3B |
| 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 | $4.9B |
| 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APPEPAM
| Q4 25 | $2.5B | $1.3B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $551.0M | $1.2B | ||
| Q4 24 | $741.4M | $1.3B | ||
| Q3 24 | $567.6M | $2.1B | ||
| Q2 24 | $460.4M | $1.8B | ||
| Q1 24 | $436.3M | $2.0B |
总债务APPEPAM
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPEPAM
| Q4 25 | $2.1B | $3.7B | ||
| Q3 25 | $1.5B | $3.7B | ||
| Q2 25 | $1.2B | $3.7B | ||
| Q1 25 | $575.4M | $3.6B | ||
| Q4 24 | $1.1B | $3.6B | ||
| Q3 24 | $938.2M | $3.6B | ||
| Q2 24 | $814.8M | $3.4B | ||
| Q1 24 | $760.2M | $3.5B |
总资产APPEPAM
| Q4 25 | $7.3B | $4.9B | ||
| Q3 25 | $6.3B | $4.8B | ||
| Q2 25 | $6.0B | $4.7B | ||
| Q1 25 | $5.7B | $4.7B | ||
| Q4 24 | $5.9B | $4.8B | ||
| Q3 24 | $5.4B | $4.5B | ||
| Q2 24 | $5.3B | $4.2B | ||
| Q1 24 | $5.3B | $4.4B |
负债/权益比APPEPAM
| 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 | $282.9M |
| 自由现金流经营现金流 - 资本支出 | — | $268.1M |
| 自由现金流率自由现金流/营收 | — | 19.0% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 1.19× | 2.59× |
| 过去12个月自由现金流最近4个季度 | — | $612.7M |
8季度趋势，按日历期对齐
经营现金流APPEPAM
| Q4 25 | $1.3B | $282.9M | ||
| Q3 25 | $1.1B | $294.7M | ||
| Q2 25 | $772.2M | $53.2M | ||
| Q1 25 | $831.7M | $24.2M | ||
| Q4 24 | $701.0M | $130.3M | ||
| Q3 24 | $550.7M | $242.0M | ||
| Q2 24 | $454.5M | $57.0M | ||
| Q1 24 | $392.8M | $129.9M |
自由现金流APPEPAM
| Q4 25 | — | $268.1M | ||
| Q3 25 | — | $286.4M | ||
| Q2 25 | — | $43.4M | ||
| Q1 25 | — | $14.8M | ||
| Q4 24 | — | $114.5M | ||
| Q3 24 | — | $237.0M | ||
| Q2 24 | — | $52.3M | ||
| Q1 24 | — | $123.2M |
自由现金流率APPEPAM
| Q4 25 | — | 19.0% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 9.2% | ||
| Q3 24 | — | 20.3% | ||
| Q2 24 | — | 4.6% | ||
| Q1 24 | — | 10.6% |
资本支出强度APPEPAM
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.6% |
现金转化率APPEPAM
| Q4 25 | 1.19× | 2.59× | ||
| Q3 25 | 1.26× | 2.76× | ||
| Q2 25 | 0.94× | 0.60× | ||
| Q1 25 | 1.44× | 0.33× | ||
| Q4 24 | 1.17× | 1.26× | ||
| Q3 24 | 1.27× | 1.77× | ||
| Q2 24 | 1.47× | 0.58× | ||
| Q1 24 | 1.66× | 1.12× |
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% |
EPAM
暂无分部数据
