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AppLovin Corp（APP）与Flutter Entertainment plc（FLUT）财务数据对比。点击上方公司名可切换其他公司
Flutter Entertainment plc的季度营收约是AppLovin Corp的3.6倍（$4.7B vs $1.3B）。AppLovin Corp净利率更高（82.7% vs 0.2%，领先82.5%）。Flutter Entertainment plc同比增速更快（24.9% vs -2.9%）。过去两年Flutter Entertainment plc的营收复合增速更高（18.1% 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。
Flutter Entertainment plc是爱尔兰裔美国跨国体育博彩及娱乐博彩企业，于纽约证券交易所主上市，同时在伦敦证券交易所第二上市，旗下拥有Betfair、FanDuel、Paddy Power、PokerStars、Sky Betting & Gaming、Sportsbet等知名品牌，是全球规模最大的在线博彩运营商。
APP vs FLUT — 直观对比
营收规模更大
FLUT
是对方的3.6倍
$1.3B
营收增速更快
FLUT
高出27.8%
-2.9%
净利率更高
APP
高出82.5%
0.2%
两年增速更快
FLUT
近两年复合增速
12.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $4.7B |
| 净利润 | $1.1B | $10.0M |
| 毛利率 | 95.2% | 44.5% |
| 营业利润率 | — | 5.4% |
| 净利率 | 82.7% | 0.2% |
| 营收同比 | -2.9% | 24.9% |
| 净利润同比 | 84.0% | -93.6% |
| 每股收益（稀释后） | $3.24 | $0.00 |
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APPFLUT
| Q4 25 | $1.3B | $4.7B | ||
| Q3 25 | $1.4B | $3.8B | ||
| Q2 25 | $1.3B | $4.2B | ||
| Q1 25 | $1.5B | $3.7B | ||
| Q4 24 | $1.4B | $3.8B | ||
| Q3 24 | $1.2B | $3.2B | ||
| Q2 24 | $1.1B | $3.6B | ||
| Q1 24 | $1.1B | $3.4B |
净利润APPFLUT
| Q4 25 | $1.1B | $10.0M | ||
| Q3 25 | $835.5M | $-789.0M | ||
| Q2 25 | $819.5M | $37.0M | ||
| Q1 25 | $576.4M | $335.0M | ||
| Q4 24 | $599.2M | $156.0M | ||
| Q3 24 | $434.4M | $-114.0M | ||
| Q2 24 | $310.0M | $297.0M | ||
| Q1 24 | $236.2M | $-177.0M |
毛利率APPFLUT
| Q4 25 | 95.2% | 44.5% | ||
| Q3 25 | 87.6% | 42.9% | ||
| Q2 25 | 87.7% | 46.8% | ||
| Q1 25 | 81.7% | 46.6% | ||
| Q4 24 | 76.7% | 48.2% | ||
| Q3 24 | 77.5% | 46.1% | ||
| Q2 24 | 73.8% | 49.2% | ||
| Q1 24 | 72.2% | 47.2% |
营业利润率APPFLUT
| Q4 25 | — | 5.4% | ||
| Q3 25 | 76.8% | -22.0% | ||
| Q2 25 | 76.1% | 9.3% | ||
| Q1 25 | 44.7% | 6.1% | ||
| Q4 24 | 44.3% | 7.4% | ||
| Q3 24 | 44.6% | 3.0% | ||
| Q2 24 | 36.2% | 10.2% | ||
| Q1 24 | 32.1% | 3.7% |
净利率APPFLUT
| Q4 25 | 82.7% | 0.2% | ||
| Q3 25 | 59.5% | -20.8% | ||
| Q2 25 | 65.1% | 0.9% | ||
| Q1 25 | 38.8% | 9.1% | ||
| Q4 24 | 43.6% | 4.1% | ||
| Q3 24 | 36.3% | -3.5% | ||
| Q2 24 | 28.7% | 8.2% | ||
| Q1 24 | 22.3% | -5.2% |
每股收益（稀释后）APPFLUT
| Q4 25 | $3.24 | $0.00 | ||
| Q3 25 | $2.45 | $-3.91 | ||
| Q2 25 | $2.39 | $0.59 | ||
| Q1 25 | $1.67 | $1.57 | ||
| Q4 24 | $1.72 | $0.47 | ||
| Q3 24 | $1.25 | $-0.58 | ||
| Q2 24 | $0.89 | $1.45 | ||
| Q1 24 | $0.67 | $-1.10 |
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 | $1.8B |
| 总债务越低越好 | $3.5B | $12.3B |
| 股东权益账面价值 | $2.1B | $9.0B |
| 总资产 | $7.3B | $29.3B |
| 负债/权益比越低杠杆越低 | 1.65× | 1.36× |
8季度趋势，按日历期对齐
现金及短期投资APPFLUT
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $551.0M | $1.5B | ||
| Q4 24 | $741.4M | $1.5B | ||
| Q3 24 | $567.6M | $1.5B | ||
| Q2 24 | $460.4M | $1.5B | ||
| Q1 24 | $436.3M | $1.4B |
总债务APPFLUT
| Q4 25 | $3.5B | $12.3B | ||
| Q3 25 | — | $12.1B | ||
| Q2 25 | — | $10.0B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | $3.5B | $6.7B | ||
| Q3 24 | — | $6.9B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.8B |
股东权益APPFLUT
| Q4 25 | $2.1B | $9.0B | ||
| Q3 25 | $1.5B | $9.2B | ||
| Q2 25 | $1.2B | $10.2B | ||
| Q1 25 | $575.4M | $9.9B | ||
| Q4 24 | $1.1B | $9.3B | ||
| Q3 24 | $938.2M | $10.2B | ||
| Q2 24 | $814.8M | $9.9B | ||
| Q1 24 | $760.2M | $9.5B |
总资产APPFLUT
| Q4 25 | $7.3B | $29.3B | ||
| Q3 25 | $6.3B | $29.3B | ||
| Q2 25 | $6.0B | $29.9B | ||
| Q1 25 | $5.7B | $24.8B | ||
| Q4 24 | $5.9B | $24.5B | ||
| Q3 24 | $5.4B | $25.5B | ||
| Q2 24 | $5.3B | $24.3B | ||
| Q1 24 | $5.3B | $24.4B |
负债/权益比APPFLUT
| Q4 25 | 1.65× | 1.36× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 3.22× | 0.72× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $428.0M |
| 自由现金流经营现金流 - 资本支出 | — | $392.0M |
| 自由现金流率自由现金流/营收 | — | 8.3% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | 1.19× | 42.80× |
| 过去12个月自由现金流最近4个季度 | — | $1.1B |
8季度趋势，按日历期对齐
经营现金流APPFLUT
| Q4 25 | $1.3B | $428.0M | ||
| Q3 25 | $1.1B | $209.0M | ||
| Q2 25 | $772.2M | $359.0M | ||
| Q1 25 | $831.7M | $188.0M | ||
| Q4 24 | $701.0M | $652.0M | ||
| Q3 24 | $550.7M | $290.0M | ||
| Q2 24 | $454.5M | $323.0M | ||
| Q1 24 | $392.8M | $337.0M |
自由现金流APPFLUT
| Q4 25 | — | $392.0M | ||
| Q3 25 | — | $196.0M | ||
| Q2 25 | — | $322.0M | ||
| Q1 25 | — | $169.0M | ||
| Q4 24 | — | $595.0M | ||
| Q3 24 | — | $253.0M | ||
| Q2 24 | — | $295.0M | ||
| Q1 24 | — | $315.0M |
自由现金流率APPFLUT
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 8.2% | ||
| Q1 24 | — | 9.3% |
资本支出强度APPFLUT
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.6% |
现金转化率APPFLUT
| Q4 25 | 1.19× | 42.80× | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | 9.70× | ||
| Q1 25 | 1.44× | 0.56× | ||
| Q4 24 | 1.17× | 4.18× | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.47× | 1.09× | ||
| 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
FLUT
| Other | $2.6B | 55% |
| Sports Book | $1.5B | 32% |
| Igaming | $586.0M | 12% |
| Service Other | $59.0M | 1% |
