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AppLovin Corp（APP）与孩之宝（HAS）财务数据对比。点击上方公司名可切换其他公司
AppLovin Corp的季度营收约是孩之宝的1.3倍（$1.8B vs $1.4B），AppLovin Corp净利率更高（65.5% vs 13.9%，领先51.5%），AppLovin Corp同比增速更快（59.0% vs 31.3%），AppLovin Corp自由现金流更多（$1.3B vs $389.5M），过去两年孩之宝的营收复合增速更高（38.2% vs 30.6%）
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。
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
APP vs HAS — 直观对比
营收规模更大
APP
是对方的1.3倍
$1.4B
营收增速更快
APP
高出27.7%
31.3%
净利率更高
APP
高出51.5%
13.9%
自由现金流更多
APP
多$897.2M
$389.5M
两年增速更快
HAS
近两年复合增速
30.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.4B |
| 净利润 | $1.2B | $201.6M |
| 毛利率 | 88.9% | 68.7% |
| 营业利润率 | 78.2% | 20.6% |
| 净利率 | 65.5% | 13.9% |
| 营收同比 | 59.0% | 31.3% |
| 净利润同比 | 109.2% | 687.8% |
| 每股收益（稀释后） | $3.56 | $1.46 |
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APPHAS
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.3B | $980.8M | ||
| Q1 25 | $1.5B | $887.1M | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.1B | $995.3M |
净利润APPHAS
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.1B | $201.6M | ||
| Q3 25 | $835.5M | $233.2M | ||
| Q2 25 | $819.5M | $-855.8M | ||
| Q1 25 | $576.4M | $98.6M | ||
| Q4 24 | $599.2M | $-34.3M | ||
| Q3 24 | $434.4M | $223.2M | ||
| Q2 24 | $310.0M | $138.5M |
毛利率APPHAS
| Q1 26 | 88.9% | — | ||
| Q4 25 | 95.2% | 68.7% | ||
| Q3 25 | 87.6% | 70.1% | ||
| Q2 25 | 87.7% | 77.0% | ||
| Q1 25 | 81.7% | 76.9% | ||
| Q4 24 | 76.7% | 67.4% | ||
| Q3 24 | 77.5% | 70.4% | ||
| Q2 24 | 73.8% | 76.1% |
营业利润率APPHAS
| Q1 26 | 78.2% | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | 76.8% | 24.6% | ||
| Q2 25 | 76.1% | -81.4% | ||
| Q1 25 | 44.7% | 19.2% | ||
| Q4 24 | 44.3% | 5.4% | ||
| Q3 24 | 44.6% | 23.6% | ||
| Q2 24 | 36.2% | 21.3% |
净利率APPHAS
| Q1 26 | 65.5% | — | ||
| Q4 25 | 82.7% | 13.9% | ||
| Q3 25 | 59.5% | 16.8% | ||
| Q2 25 | 65.1% | -87.3% | ||
| Q1 25 | 38.8% | 11.1% | ||
| Q4 24 | 43.6% | -3.1% | ||
| Q3 24 | 36.3% | 17.4% | ||
| Q2 24 | 28.7% | 13.9% |
每股收益（稀释后）APPHAS
| Q1 26 | $3.56 | — | ||
| Q4 25 | $3.24 | $1.46 | ||
| Q3 25 | $2.45 | $1.64 | ||
| Q2 25 | $2.39 | $-6.10 | ||
| Q1 25 | $1.67 | $0.70 | ||
| Q4 24 | $1.72 | $-0.25 | ||
| Q3 24 | $1.25 | $1.59 | ||
| Q2 24 | $0.89 | $0.99 |
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 | $2.8B | — |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.4B | $565.5M |
| 总资产 | $7.7B | $5.6B |
| 负债/权益比越低杠杆越低 | 1.49× | — |
8季度趋势，按日历期对齐
现金及短期投资APPHAS
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $551.0M | — | ||
| Q4 24 | $741.4M | — | ||
| Q3 24 | $567.6M | — | ||
| Q2 24 | $460.4M | — |
总债务APPHAS
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APPHAS
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.1B | $565.5M | ||
| Q3 25 | $1.5B | $433.8M | ||
| Q2 25 | $1.2B | $269.7M | ||
| Q1 25 | $575.4M | $1.2B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $938.2M | $1.3B | ||
| Q2 24 | $814.8M | $1.2B |
总资产APPHAS
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.3B | $5.6B | ||
| Q3 25 | $6.3B | $5.5B | ||
| Q2 25 | $6.0B | $5.2B | ||
| Q1 25 | $5.7B | $6.0B | ||
| Q4 24 | $5.9B | $6.3B | ||
| Q3 24 | $5.4B | $7.2B | ||
| Q2 24 | $5.3B | $6.9B |
负债/权益比APPHAS
| Q1 26 | 1.49× | — | ||
| Q4 25 | 1.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.22× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $403.2M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $389.5M |
| 自由现金流率自由现金流/营收 | 69.8% | 26.9% |
| 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 | 1.07× | 2.00× |
| 过去12个月自由现金流最近4个季度 | — | $829.9M |
8季度趋势，按日历期对齐
经营现金流APPHAS
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $403.2M | ||
| Q3 25 | $1.1B | $280.6M | ||
| Q2 25 | $772.2M | $71.3M | ||
| Q1 25 | $831.7M | $138.1M | ||
| Q4 24 | $701.0M | $259.8M | ||
| Q3 24 | $550.7M | $222.5M | ||
| Q2 24 | $454.5M | $187.3M |
自由现金流APPHAS
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $389.5M | ||
| Q3 25 | — | $260.9M | ||
| Q2 25 | — | $55.2M | ||
| Q1 25 | — | $124.3M | ||
| Q4 24 | — | $200.8M | ||
| Q3 24 | — | $174.0M | ||
| Q2 24 | — | $135.4M |
自由现金流率APPHAS
| Q1 26 | 69.8% | — | ||
| Q4 25 | — | 26.9% | ||
| Q3 25 | — | 18.8% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 14.0% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | — | 13.6% |
资本支出强度APPHAS
| Q1 26 | — | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 5.2% |
现金转化率APPHAS
| Q1 26 | 1.07× | — | ||
| Q4 25 | 1.19× | 2.00× | ||
| Q3 25 | 1.26× | 1.20× | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 1.44× | 1.40× | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | 1.27× | 1.00× | ||
| Q2 24 | 1.47× | 1.35× |
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
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
