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AppLovin Corp（APP）与IES Holdings, Inc.（IESC）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IES Holdings, Inc.的1.5倍（$1.3B vs $871.0M），AppLovin Corp净利率更高（82.7% vs 10.5%，领先72.2%），IES Holdings, Inc.同比增速更快（16.2% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 11.1%）
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。
IES Holdings, Inc.前身为Integrated Electrical Services, Inc.，主营业务为集成电气及技术系统的设计与安装，同时面向数据中心、住宅、商业和工业设施等多元终端市场提供基础设施类产品及相关服务。
APP vs IESC — 直观对比
营收规模更大
APP
是对方的1.5倍
$871.0M
营收增速更快
IESC
高出19.1%
-2.9%
净利率更高
APP
高出72.2%
10.5%
两年增速更快
APP
近两年复合增速
11.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $871.0M |
| 净利润 | $1.1B | $91.8M |
| 毛利率 | 95.2% | 25.3% |
| 营业利润率 | — | 11.2% |
| 净利率 | 82.7% | 10.5% |
| 营收同比 | -2.9% | 16.2% |
| 净利润同比 | 84.0% | 59.1% |
| 每股收益（稀释后） | $3.24 | $4.51 |
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APPIESC
| Q4 25 | $1.3B | $871.0M | ||
| Q3 25 | $1.4B | $897.8M | ||
| Q2 25 | $1.3B | $890.2M | ||
| Q1 25 | $1.5B | $834.0M | ||
| Q4 24 | $1.4B | $749.5M | ||
| Q3 24 | $1.2B | $775.8M | ||
| Q2 24 | $1.1B | $768.4M | ||
| Q1 24 | $1.1B | $705.7M |
净利润APPIESC
| Q4 25 | $1.1B | $91.8M | ||
| Q3 25 | $835.5M | $102.3M | ||
| Q2 25 | $819.5M | $79.3M | ||
| Q1 25 | $576.4M | $72.6M | ||
| Q4 24 | $599.2M | $57.7M | ||
| Q3 24 | $434.4M | $65.5M | ||
| Q2 24 | $310.0M | $66.6M | ||
| Q1 24 | $236.2M | $56.8M |
毛利率APPIESC
| Q4 25 | 95.2% | 25.3% | ||
| Q3 25 | 87.6% | 26.0% | ||
| Q2 25 | 87.7% | 26.9% | ||
| Q1 25 | 81.7% | 25.0% | ||
| Q4 24 | 76.7% | 23.8% | ||
| Q3 24 | 77.5% | 24.0% | ||
| Q2 24 | 73.8% | 25.3% | ||
| Q1 24 | 72.2% | 24.3% |
营业利润率APPIESC
| Q4 25 | — | 11.2% | ||
| Q3 25 | 76.8% | 11.6% | ||
| Q2 25 | 76.1% | 12.6% | ||
| Q1 25 | 44.7% | 11.1% | ||
| Q4 24 | 44.3% | 10.0% | ||
| Q3 24 | 44.6% | 9.7% | ||
| Q2 24 | 36.2% | 11.7% | ||
| Q1 24 | 32.1% | 11.0% |
净利率APPIESC
| Q4 25 | 82.7% | 10.5% | ||
| Q3 25 | 59.5% | 11.4% | ||
| Q2 25 | 65.1% | 8.9% | ||
| Q1 25 | 38.8% | 8.7% | ||
| Q4 24 | 43.6% | 7.7% | ||
| Q3 24 | 36.3% | 8.4% | ||
| Q2 24 | 28.7% | 8.7% | ||
| Q1 24 | 22.3% | 8.0% |
每股收益（稀释后）APPIESC
| Q4 25 | $3.24 | $4.51 | ||
| Q3 25 | $2.45 | $4.99 | ||
| Q2 25 | $2.39 | $3.81 | ||
| Q1 25 | $1.67 | $3.50 | ||
| Q4 24 | $1.72 | $2.72 | ||
| Q3 24 | $1.25 | $3.06 | ||
| Q2 24 | $0.89 | $2.67 | ||
| Q1 24 | $0.67 | $2.29 |
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 | $258.7M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $961.1M |
| 总资产 | $7.3B | $1.7B |
| 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APPIESC
| Q4 25 | $2.5B | $258.7M | ||
| Q3 25 | $1.7B | $231.8M | ||
| Q2 25 | $1.2B | $168.3M | ||
| Q1 25 | $551.0M | $88.3M | ||
| Q4 24 | $741.4M | $112.0M | ||
| Q3 24 | $567.6M | $135.8M | ||
| Q2 24 | $460.4M | $44.9M | ||
| Q1 24 | $436.3M | $106.0M |
总债务APPIESC
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPIESC
| Q4 25 | $2.1B | $961.1M | ||
| Q3 25 | $1.5B | $884.0M | ||
| Q2 25 | $1.2B | $781.4M | ||
| Q1 25 | $575.4M | $705.8M | ||
| Q4 24 | $1.1B | $652.4M | ||
| Q3 24 | $938.2M | $611.1M | ||
| Q2 24 | $814.8M | $567.5M | ||
| Q1 24 | $760.2M | $534.8M |
总资产APPIESC
| Q4 25 | $7.3B | $1.7B | ||
| Q3 25 | $6.3B | $1.6B | ||
| Q2 25 | $6.0B | $1.5B | ||
| Q1 25 | $5.7B | $1.4B | ||
| Q4 24 | $5.9B | $1.3B | ||
| Q3 24 | $5.4B | $1.2B | ||
| Q2 24 | $5.3B | $1.2B | ||
| Q1 24 | $5.3B | $1.1B |
负债/权益比APPIESC
| 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 | $27.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.9M |
| 自由现金流率自由现金流/营收 | — | -2.2% |
| 资本支出强度资本支出/营收 | — | 5.3% |
| 现金转化率经营现金流/净利润 | 1.19× | 0.30× |
| 过去12个月自由现金流最近4个季度 | — | $175.9M |
8季度趋势，按日历期对齐
经营现金流APPIESC
| Q4 25 | $1.3B | $27.7M | ||
| Q3 25 | $1.1B | $132.0M | ||
| Q2 25 | $772.2M | $92.0M | ||
| Q1 25 | $831.7M | $24.8M | ||
| Q4 24 | $701.0M | $37.3M | ||
| Q3 24 | $550.7M | $92.8M | ||
| Q2 24 | $454.5M | $82.9M | ||
| Q1 24 | $392.8M | $33.7M |
自由现金流APPIESC
| Q4 25 | — | $-18.9M | ||
| Q3 25 | — | $112.0M | ||
| Q2 25 | — | $74.8M | ||
| Q1 25 | — | $7.9M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | — | $78.5M | ||
| Q2 24 | — | $65.4M | ||
| Q1 24 | — | $26.9M |
自由现金流率APPIESC
| Q4 25 | — | -2.2% | ||
| Q3 25 | — | 12.5% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 8.5% | ||
| Q1 24 | — | 3.8% |
资本支出强度APPIESC
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.8% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 1.0% |
现金转化率APPIESC
| Q4 25 | 1.19× | 0.30× | ||
| Q3 25 | 1.26× | 1.29× | ||
| Q2 25 | 0.94× | 1.16× | ||
| Q1 25 | 1.44× | 0.34× | ||
| Q4 24 | 1.17× | 0.65× | ||
| Q3 24 | 1.27× | 1.42× | ||
| Q2 24 | 1.47× | 1.24× | ||
| Q1 24 | 1.66× | 0.59× |
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% |
IESC
| Communications | $351.9M | 40% |
| Single Family Electrical Contracts | $137.0M | 16% |
| Custom Engineered Solutions | $116.0M | 13% |
| Commercialand Industrial | $94.8M | 11% |
| Single Family Contracts Plumbing HVAC | $82.9M | 10% |
| Multi Familyand Other | $64.2M | 7% |
| Industrial Services | $24.2M | 3% |
