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AppLovin Corp（APP）与ServiceNow（NOW）财务数据对比。点击上方公司名可切换其他公司
ServiceNow的季度营收约是AppLovin Corp的2.0倍（$3.8B vs $1.8B），AppLovin Corp净利率更高（65.5% vs 12.4%，领先53.0%），AppLovin Corp同比增速更快（59.0% vs 2.8%），ServiceNow自由现金流更多（$1.7B vs $1.3B），过去两年AppLovin Corp的营收复合增速更高（30.6% vs 19.8%）
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。
ServiceNow是2003年由弗雷德·卢迪在美国加利福尼亚州圣克拉拉创立的软件企业，主打云计算平台产品，可支持企业搭建及管理自动化业务工作流。公司于纽交所上市，现为标普100及标普500指数成分股。
APP vs NOW — 直观对比
营收规模更大
NOW
是对方的2.0倍
$1.8B
营收增速更快
APP
高出56.2%
2.8%
净利率更高
APP
高出53.0%
12.4%
自由现金流更多
NOW
多$378.3M
$1.3B
两年增速更快
APP
近两年复合增速
19.8%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.8B |
| 净利润 | $1.2B | $469.0M |
| 毛利率 | 88.9% | 75.1% |
| 营业利润率 | 78.2% | 13.3% |
| 净利率 | 65.5% | 12.4% |
| 营收同比 | 59.0% | 2.8% |
| 净利润同比 | 109.2% | -53.7% |
| 每股收益（稀释后） | $3.56 | $1.04 |
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APPNOW
| Q1 26 | $1.8B | $3.8B | ||
| Q4 25 | $1.3B | $3.6B | ||
| Q3 25 | $1.4B | $3.4B | ||
| Q2 25 | $1.3B | $3.2B | ||
| Q1 25 | $1.5B | $3.1B | ||
| Q4 24 | $1.4B | $3.0B | ||
| Q3 24 | $1.2B | $2.8B | ||
| Q2 24 | $1.1B | $2.6B |
净利润APPNOW
| Q1 26 | $1.2B | $469.0M | ||
| Q4 25 | $1.1B | $401.0M | ||
| Q3 25 | $835.5M | $502.0M | ||
| Q2 25 | $819.5M | $385.0M | ||
| Q1 25 | $576.4M | $460.0M | ||
| Q4 24 | $599.2M | $384.0M | ||
| Q3 24 | $434.4M | $432.0M | ||
| Q2 24 | $310.0M | $262.0M |
毛利率APPNOW
| Q1 26 | 88.9% | 75.1% | ||
| Q4 25 | 95.2% | 76.6% | ||
| Q3 25 | 87.6% | 77.3% | ||
| Q2 25 | 87.7% | 77.5% | ||
| Q1 25 | 81.7% | 78.9% | ||
| Q4 24 | 76.7% | 78.7% | ||
| Q3 24 | 77.5% | 79.1% | ||
| Q2 24 | 73.8% | 79.0% |
营业利润率APPNOW
| Q1 26 | 78.2% | 13.3% | ||
| Q4 25 | — | 12.4% | ||
| Q3 25 | 76.8% | 16.8% | ||
| Q2 25 | 76.1% | 11.1% | ||
| Q1 25 | 44.7% | 14.6% | ||
| Q4 24 | 44.3% | 12.6% | ||
| Q3 24 | 44.6% | 14.9% | ||
| Q2 24 | 36.2% | 9.1% |
净利率APPNOW
| Q1 26 | 65.5% | 12.4% | ||
| Q4 25 | 82.7% | 11.2% | ||
| Q3 25 | 59.5% | 14.7% | ||
| Q2 25 | 65.1% | 12.0% | ||
| Q1 25 | 38.8% | 14.9% | ||
| Q4 24 | 43.6% | 13.0% | ||
| Q3 24 | 36.3% | 15.4% | ||
| Q2 24 | 28.7% | 10.0% |
每股收益（稀释后）APPNOW
| Q1 26 | $3.56 | $1.04 | ||
| Q4 25 | $3.24 | $-4.77 | ||
| Q3 25 | $2.45 | $2.40 | ||
| Q2 25 | $2.39 | $1.84 | ||
| Q1 25 | $1.67 | $2.20 | ||
| Q4 24 | $1.72 | $1.84 | ||
| Q3 24 | $1.25 | $2.07 | ||
| Q2 24 | $0.89 | $1.26 |
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 | $2.7B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.4B | $11.7B |
| 总资产 | $7.7B | $24.4B |
| 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APPNOW
| Q1 26 | $2.8B | $2.7B | ||
| Q4 25 | $2.5B | $3.7B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.2B | $3.1B | ||
| Q1 25 | $551.0M | $3.4B | ||
| Q4 24 | $741.4M | $2.3B | ||
| Q3 24 | $567.6M | $1.9B | ||
| Q2 24 | $460.4M | $2.2B |
总债务APPNOW
| 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APPNOW
| Q1 26 | $2.4B | $11.7B | ||
| Q4 25 | $2.1B | $13.0B | ||
| Q3 25 | $1.5B | $11.3B | ||
| Q2 25 | $1.2B | $10.9B | ||
| Q1 25 | $575.4M | $10.1B | ||
| Q4 24 | $1.1B | $9.6B | ||
| Q3 24 | $938.2M | $9.3B | ||
| Q2 24 | $814.8M | $8.7B |
总资产APPNOW
| Q1 26 | $7.7B | $24.4B | ||
| Q4 25 | $7.3B | $26.0B | ||
| Q3 25 | $6.3B | $21.8B | ||
| Q2 25 | $6.0B | $22.1B | ||
| Q1 25 | $5.7B | $21.0B | ||
| Q4 24 | $5.9B | $20.4B | ||
| Q3 24 | $5.4B | $18.4B | ||
| Q2 24 | $5.3B | $18.2B |
负债/权益比APPNOW
| 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 | $1.7B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $1.7B |
| 自由现金流率自由现金流/营收 | 69.8% | 44.2% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.07× | 3.56× |
| 过去12个月自由现金流最近4个季度 | — | $4.8B |
8季度趋势，按日历期对齐
经营现金流APPNOW
| Q1 26 | $1.3B | $1.7B | ||
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.1B | $813.0M | ||
| Q2 25 | $772.2M | $716.0M | ||
| Q1 25 | $831.7M | $1.7B | ||
| Q4 24 | $701.0M | $1.6B | ||
| Q3 24 | $550.7M | $671.0M | ||
| Q2 24 | $454.5M | $620.0M |
自由现金流APPNOW
| Q1 26 | $1.3B | $1.7B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $578.0M | ||
| Q2 25 | — | $526.0M | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $469.0M | ||
| Q2 24 | — | $358.0M |
自由现金流率APPNOW
| Q1 26 | 69.8% | 44.2% | ||
| Q4 25 | — | 56.1% | ||
| Q3 25 | — | 17.0% | ||
| Q2 25 | — | 16.4% | ||
| Q1 25 | — | 47.7% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 13.6% |
资本支出强度APPNOW
| Q1 26 | — | — | ||
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 10.0% |
现金转化率APPNOW
| Q1 26 | 1.07× | 3.56× | ||
| Q4 25 | 1.19× | 5.58× | ||
| Q3 25 | 1.26× | 1.62× | ||
| Q2 25 | 0.94× | 1.86× | ||
| Q1 25 | 1.44× | 3.65× | ||
| Q4 24 | 1.17× | 4.26× | ||
| Q3 24 | 1.27× | 1.55× | ||
| Q2 24 | 1.47× | 2.37× |
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
NOW
| Subscription revenues | $3.7B | 97% |
| Other | $99.0M | 3% |
