vs
AppLovin Corp（APP）与Fabrinet（FN）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Fabrinet的1.2倍（$1.3B vs $1.1B），AppLovin Corp净利率更高（82.7% vs 9.9%，领先72.8%），Fabrinet同比增速更快（35.9% vs -2.9%），过去两年Fabrinet的营收复合增速更高（24.4% 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。
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
APP vs FN — 直观对比
营收规模更大
APP
是对方的1.2倍
$1.1B
营收增速更快
FN
高出38.8%
-2.9%
净利率更高
APP
高出72.8%
9.9%
两年增速更快
FN
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.1B |
| 净利润 | $1.1B | $112.6M |
| 毛利率 | 95.2% | 12.2% |
| 营业利润率 | — | 10.1% |
| 净利率 | 82.7% | 9.9% |
| 营收同比 | -2.9% | 35.9% |
| 净利润同比 | 84.0% | 30.0% |
| 每股收益（稀释后） | $3.24 | $3.11 |
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APPFN
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.4B | $978.1M | ||
| Q2 25 | $1.3B | $909.7M | ||
| Q1 25 | $1.5B | $871.8M | ||
| Q4 24 | $1.4B | $833.6M | ||
| Q3 24 | $1.2B | $804.2M | ||
| Q2 24 | $1.1B | $753.3M | ||
| Q1 24 | $1.1B | $731.5M |
净利润APPFN
| Q4 25 | $1.1B | $112.6M | ||
| Q3 25 | $835.5M | $95.9M | ||
| Q2 25 | $819.5M | $87.2M | ||
| Q1 25 | $576.4M | $81.3M | ||
| Q4 24 | $599.2M | $86.6M | ||
| Q3 24 | $434.4M | $77.4M | ||
| Q2 24 | $310.0M | $81.1M | ||
| Q1 24 | $236.2M | $80.9M |
毛利率APPFN
| Q4 25 | 95.2% | 12.2% | ||
| Q3 25 | 87.6% | 11.9% | ||
| Q2 25 | 87.7% | 12.2% | ||
| Q1 25 | 81.7% | 11.7% | ||
| Q4 24 | 76.7% | 12.1% | ||
| Q3 24 | 77.5% | 12.3% | ||
| Q2 24 | 73.8% | 12.3% | ||
| Q1 24 | 72.2% | 12.4% |
营业利润率APPFN
| Q4 25 | — | 10.1% | ||
| Q3 25 | 76.8% | 9.6% | ||
| Q2 25 | 76.1% | 9.8% | ||
| Q1 25 | 44.7% | 9.0% | ||
| Q4 24 | 44.3% | 9.5% | ||
| Q3 24 | 44.6% | 9.6% | ||
| Q2 24 | 36.2% | 9.7% | ||
| Q1 24 | 32.1% | 9.7% |
净利率APPFN
| Q4 25 | 82.7% | 9.9% | ||
| Q3 25 | 59.5% | 9.8% | ||
| Q2 25 | 65.1% | 9.6% | ||
| Q1 25 | 38.8% | 9.3% | ||
| Q4 24 | 43.6% | 10.4% | ||
| Q3 24 | 36.3% | 9.6% | ||
| Q2 24 | 28.7% | 10.8% | ||
| Q1 24 | 22.3% | 11.1% |
每股收益（稀释后）APPFN
| Q4 25 | $3.24 | $3.11 | ||
| Q3 25 | $2.45 | $2.66 | ||
| Q2 25 | $2.39 | $2.41 | ||
| Q1 25 | $1.67 | $2.25 | ||
| Q4 24 | $1.72 | $2.38 | ||
| Q3 24 | $1.25 | $2.13 | ||
| Q2 24 | $0.89 | $2.22 | ||
| Q1 24 | $0.67 | $2.21 |
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 | $960.8M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $2.2B |
| 总资产 | $7.3B | $3.3B |
| 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APPFN
| Q4 25 | $2.5B | $960.8M | ||
| Q3 25 | $1.7B | $968.8M | ||
| Q2 25 | $1.2B | $934.2M | ||
| Q1 25 | $551.0M | $950.7M | ||
| Q4 24 | $741.4M | $934.6M | ||
| Q3 24 | $567.6M | $908.9M | ||
| Q2 24 | $460.4M | $858.6M | ||
| Q1 24 | $436.3M | $794.0M |
总债务APPFN
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPFN
| Q4 25 | $2.1B | $2.2B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $575.4M | $1.9B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $938.2M | $1.8B | ||
| Q2 24 | $814.8M | $1.7B | ||
| Q1 24 | $760.2M | $1.7B |
总资产APPFN
| Q4 25 | $7.3B | $3.3B | ||
| Q3 25 | $6.3B | $3.0B | ||
| Q2 25 | $6.0B | $2.8B | ||
| Q1 25 | $5.7B | $2.6B | ||
| Q4 24 | $5.9B | $2.5B | ||
| Q3 24 | $5.4B | $2.4B | ||
| Q2 24 | $5.3B | $2.3B | ||
| Q1 24 | $5.3B | $2.2B |
负债/权益比APPFN
| 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 | $46.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-5.3M |
| 自由现金流率自由现金流/营收 | — | -0.5% |
| 资本支出强度资本支出/营收 | — | 4.6% |
| 现金转化率经营现金流/净利润 | 1.19× | 0.41× |
| 过去12个月自由现金流最近4个季度 | — | $102.3M |
8季度趋势，按日历期对齐
经营现金流APPFN
| Q4 25 | $1.3B | $46.3M | ||
| Q3 25 | $1.1B | $102.6M | ||
| Q2 25 | $772.2M | $55.1M | ||
| Q1 25 | $831.7M | $74.2M | ||
| Q4 24 | $701.0M | $115.9M | ||
| Q3 24 | $550.7M | $83.2M | ||
| Q2 24 | $454.5M | $83.1M | ||
| Q1 24 | $392.8M | $100.9M |
自由现金流APPFN
| Q4 25 | — | $-5.3M | ||
| Q3 25 | — | $57.3M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $45.7M | ||
| Q4 24 | — | $94.0M | ||
| Q3 24 | — | $62.9M | ||
| Q2 24 | — | $70.4M | ||
| Q1 24 | — | $87.3M |
自由现金流率APPFN
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | 11.9% |
资本支出强度APPFN
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 1.9% |
现金转化率APPFN
| Q4 25 | 1.19× | 0.41× | ||
| Q3 25 | 1.26× | 1.07× | ||
| Q2 25 | 0.94× | 0.63× | ||
| Q1 25 | 1.44× | 0.91× | ||
| Q4 24 | 1.17× | 1.34× | ||
| Q3 24 | 1.27× | 1.07× | ||
| Q2 24 | 1.47× | 1.02× | ||
| Q1 24 | 1.66× | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
