vs
AppLovin Corp（APP）与Liberty Global Ltd.（LBTYA）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Liberty Global Ltd.的1.1倍（$1.3B vs $1.2B），AppLovin Corp净利率更高（82.7% vs -237.0%，领先319.7%），Liberty Global Ltd.同比增速更快（187.2% vs -2.9%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs -20.4%）
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。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
APP vs LBTYA — 直观对比
营收规模更大
APP
是对方的1.1倍
$1.2B
营收增速更快
LBTYA
高出190.1%
-2.9%
净利率更高
APP
高出319.7%
-237.0%
两年增速更快
APP
近两年复合增速
-20.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $1.1B | $-2.9B |
| 毛利率 | 95.2% | 66.8% |
| 营业利润率 | — | -8.6% |
| 净利率 | 82.7% | -237.0% |
| 营收同比 | -2.9% | 187.2% |
| 净利润同比 | 84.0% | -230.0% |
| 每股收益（稀释后） | $3.24 | $-8.66 |
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APPLBTYA
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.4B | $-1.4B | ||
| Q3 24 | $1.2B | $1.9B | ||
| Q2 24 | $1.1B | $1.9B | ||
| Q1 24 | $1.1B | $1.9B |
净利润APPLBTYA
| Q4 25 | $1.1B | $-2.9B | ||
| Q3 25 | $835.5M | $-90.7M | ||
| Q2 25 | $819.5M | $-2.8B | ||
| Q1 25 | $576.4M | $-1.3B | ||
| Q4 24 | $599.2M | $2.2B | ||
| Q3 24 | $434.4M | $-1.4B | ||
| Q2 24 | $310.0M | $268.1M | ||
| Q1 24 | $236.2M | $510.0M |
毛利率APPLBTYA
| Q4 25 | 95.2% | 66.8% | ||
| Q3 25 | 87.6% | 67.5% | ||
| Q2 25 | 87.7% | 63.3% | ||
| Q1 25 | 81.7% | 65.6% | ||
| Q4 24 | 76.7% | — | ||
| Q3 24 | 77.5% | 69.4% | ||
| Q2 24 | 73.8% | 68.5% | ||
| Q1 24 | 72.2% | 65.4% |
营业利润率APPLBTYA
| Q4 25 | — | -8.6% | ||
| Q3 25 | 76.8% | -0.7% | ||
| Q2 25 | 76.1% | 2.3% | ||
| Q1 25 | 44.7% | 5.2% | ||
| Q4 24 | 44.3% | — | ||
| Q3 24 | 44.6% | 5.2% | ||
| Q2 24 | 36.2% | 1.0% | ||
| Q1 24 | 32.1% | 1.2% |
净利率APPLBTYA
| Q4 25 | 82.7% | -237.0% | ||
| Q3 25 | 59.5% | -7.5% | ||
| Q2 25 | 65.1% | -220.1% | ||
| Q1 25 | 38.8% | -114.2% | ||
| Q4 24 | 43.6% | -158.9% | ||
| Q3 24 | 36.3% | -74.1% | ||
| Q2 24 | 28.7% | 14.3% | ||
| Q1 24 | 22.3% | 26.2% |
每股收益（稀释后）APPLBTYA
| Q4 25 | $3.24 | $-8.66 | ||
| Q3 25 | $2.45 | $-0.27 | ||
| Q2 25 | $2.39 | $-8.09 | ||
| Q1 25 | $1.67 | $-3.84 | ||
| Q4 24 | $1.72 | $6.15 | ||
| Q3 24 | $1.25 | $-3.95 | ||
| Q2 24 | $0.89 | $0.71 | ||
| Q1 24 | $0.67 | $1.32 |
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 | $2.2B |
| 总债务越低越好 | $3.5B | $7.8B |
| 股东权益账面价值 | $2.1B | $9.7B |
| 总资产 | $7.3B | $22.6B |
| 负债/权益比越低杠杆越低 | 1.65× | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资APPLBTYA
| Q4 25 | $2.5B | $2.2B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.2B | $3.1B | ||
| Q1 25 | $551.0M | $2.0B | ||
| Q4 24 | $741.4M | $2.2B | ||
| Q3 24 | $567.6M | $3.3B | ||
| Q2 24 | $460.4M | $3.2B | ||
| Q1 24 | $436.3M | $2.8B |
总债务APPLBTYA
| Q4 25 | $3.5B | $7.8B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | — | $8.2B | ||
| Q4 24 | $3.5B | $8.2B | ||
| Q3 24 | — | $14.9B | ||
| Q2 24 | — | $14.7B | ||
| Q1 24 | — | $14.8B |
股东权益APPLBTYA
| Q4 25 | $2.1B | $9.7B | ||
| Q3 25 | $1.5B | $12.7B | ||
| Q2 25 | $1.2B | $13.0B | ||
| Q1 25 | $575.4M | $12.6B | ||
| Q4 24 | $1.1B | $12.4B | ||
| Q3 24 | $938.2M | $18.7B | ||
| Q2 24 | $814.8M | $18.3B | ||
| Q1 24 | $760.2M | $18.4B |
总资产APPLBTYA
| Q4 25 | $7.3B | $22.6B | ||
| Q3 25 | $6.3B | $25.4B | ||
| Q2 25 | $6.0B | $27.2B | ||
| Q1 25 | $5.7B | $26.0B | ||
| Q4 24 | $5.9B | $25.4B | ||
| Q3 24 | $5.4B | $41.8B | ||
| Q2 24 | $5.3B | $40.8B | ||
| Q1 24 | $5.3B | $40.6B |
负债/权益比APPLBTYA
| Q4 25 | 1.65× | 0.80× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | 3.22× | 0.66× | ||
| Q3 24 | — | 0.80× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.80× |
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 | $630.9M |
| 自由现金流经营现金流 - 资本支出 | — | $193.3M |
| 自由现金流率自由现金流/营收 | — | 15.7% |
| 资本支出强度资本支出/营收 | — | 35.5% |
| 现金转化率经营现金流/净利润 | 1.19× | — |
| 过去12个月自由现金流最近4个季度 | — | $-132.0M |
8季度趋势，按日历期对齐
经营现金流APPLBTYA
| Q4 25 | $1.3B | $630.9M | ||
| Q3 25 | $1.1B | $301.8M | ||
| Q2 25 | $772.2M | $149.2M | ||
| Q1 25 | $831.7M | $129.2M | ||
| Q4 24 | $701.0M | $791.6M | ||
| Q3 24 | $550.7M | $449.5M | ||
| Q2 24 | $454.5M | $546.1M | ||
| Q1 24 | $392.8M | $245.7M |
自由现金流APPLBTYA
| Q4 25 | — | $193.3M | ||
| Q3 25 | — | $-41.1M | ||
| Q2 25 | — | $-170.1M | ||
| Q1 25 | — | $-114.1M | ||
| Q4 24 | — | $712.9M | ||
| Q3 24 | — | $102.4M | ||
| Q2 24 | — | $256.8M | ||
| Q1 24 | — | $-105.1M |
自由现金流率APPLBTYA
| Q4 25 | — | 15.7% | ||
| Q3 25 | — | -3.4% | ||
| Q2 25 | — | -13.4% | ||
| Q1 25 | — | -9.7% | ||
| Q4 24 | — | -50.5% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | — | -5.4% |
资本支出强度APPLBTYA
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | — | 25.2% | ||
| Q1 25 | — | 20.8% | ||
| Q4 24 | — | -5.6% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 15.4% | ||
| Q1 24 | — | 18.0% |
现金转化率APPLBTYA
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.17× | 0.35× | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.47× | 2.04× | ||
| Q1 24 | 1.66× | 0.48× |
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% |
LBTYA
暂无分部数据
