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AppLovin Corp（APP）与Opendoor Technologies Inc.（OPEN）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Opendoor Technologies Inc.的2.6倍（$1.8B vs $720.0M），AppLovin Corp净利率更高（65.5% vs -24.0%，领先89.5%），AppLovin Corp同比增速更快（59.0% vs -37.6%），过去两年AppLovin Corp的营收复合增速更高（30.6% vs -31.0%）
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。
Opendoor Technologies Inc.是一家主营住宅房地产买卖的线上企业，总部位于旧金山。平台可通过线上流程向房主提供房屋即时现金报价，收购房产后进行修缮再重新挂牌出售，同时还提供基于移动端应用的购房服务及配套融资方案，截至2021年11月业务覆盖美国44个区域市场。
APP vs OPEN — 直观对比
营收规模更大
APP
是对方的2.6倍
$720.0M
营收增速更快
APP
高出96.5%
-37.6%
净利率更高
APP
高出89.5%
-24.0%
两年增速更快
APP
近两年复合增速
-31.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $720.0M |
| 净利润 | $1.2B | $-173.0M |
| 毛利率 | 88.9% | 10.0% |
| 营业利润率 | 78.2% | 67.9% |
| 净利率 | 65.5% | -24.0% |
| 营收同比 | 59.0% | -37.6% |
| 净利润同比 | 109.2% | -103.5% |
| 每股收益（稀释后） | $3.56 | $-0.18 |
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APPOPEN
| Q1 26 | $1.8B | $720.0M | ||
| Q4 25 | $1.3B | $736.0M | ||
| Q3 25 | $1.4B | $915.0M | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.1B | $1.5B |
净利润APPOPEN
| Q1 26 | $1.2B | $-173.0M | ||
| Q4 25 | $1.1B | $-1.1B | ||
| Q3 25 | $835.5M | $-90.0M | ||
| Q2 25 | $819.5M | $-29.0M | ||
| Q1 25 | $576.4M | $-85.0M | ||
| Q4 24 | $599.2M | $-113.0M | ||
| Q3 24 | $434.4M | $-78.0M | ||
| Q2 24 | $310.0M | $-92.0M |
毛利率APPOPEN
| Q1 26 | 88.9% | 10.0% | ||
| Q4 25 | 95.2% | 7.7% | ||
| Q3 25 | 87.6% | 7.2% | ||
| Q2 25 | 87.7% | 8.2% | ||
| Q1 25 | 81.7% | 8.6% | ||
| Q4 24 | 76.7% | 7.8% | ||
| Q3 24 | 77.5% | 7.6% | ||
| Q2 24 | 73.8% | 8.5% |
营业利润率APPOPEN
| Q1 26 | 78.2% | 67.9% | ||
| Q4 25 | — | -20.4% | ||
| Q3 25 | 76.8% | -7.4% | ||
| Q2 25 | 76.1% | -0.8% | ||
| Q1 25 | 44.7% | -4.9% | ||
| Q4 24 | 44.3% | -8.7% | ||
| Q3 24 | 44.6% | -4.9% | ||
| Q2 24 | 36.2% | -4.8% |
净利率APPOPEN
| Q1 26 | 65.5% | -24.0% | ||
| Q4 25 | 82.7% | -148.9% | ||
| Q3 25 | 59.5% | -9.8% | ||
| Q2 25 | 65.1% | -1.9% | ||
| Q1 25 | 38.8% | -7.4% | ||
| Q4 24 | 43.6% | -10.4% | ||
| Q3 24 | 36.3% | -5.7% | ||
| Q2 24 | 28.7% | -6.1% |
每股收益（稀释后）APPOPEN
| Q1 26 | $3.56 | $-0.18 | ||
| Q4 25 | $3.24 | $-1.42 | ||
| Q3 25 | $2.45 | $-0.12 | ||
| Q2 25 | $2.39 | $-0.04 | ||
| Q1 25 | $1.67 | $-0.12 | ||
| Q4 24 | $1.72 | $-0.16 | ||
| Q3 24 | $1.25 | $-0.11 | ||
| Q2 24 | $0.89 | $-0.13 |
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 | $999.0M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.4B | $954.0M |
| 总资产 | $7.7B | $2.3B |
| 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APPOPEN
| Q1 26 | $2.8B | $999.0M | ||
| Q4 25 | $2.5B | $962.0M | ||
| Q3 25 | $1.7B | $962.0M | ||
| Q2 25 | $1.2B | $789.0M | ||
| Q1 25 | $551.0M | $559.0M | ||
| Q4 24 | $741.4M | $679.0M | ||
| Q3 24 | $567.6M | $837.0M | ||
| Q2 24 | $460.4M | $809.0M |
总债务APPOPEN
| 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APPOPEN
| Q1 26 | $2.4B | $954.0M | ||
| Q4 25 | $2.1B | $1.0B | ||
| Q3 25 | $1.5B | $811.0M | ||
| Q2 25 | $1.2B | $631.0M | ||
| Q1 25 | $575.4M | $645.0M | ||
| Q4 24 | $1.1B | $713.0M | ||
| Q3 24 | $938.2M | $801.0M | ||
| Q2 24 | $814.8M | $845.0M |
总资产APPOPEN
| Q1 26 | $7.7B | $2.3B | ||
| Q4 25 | $7.3B | $2.4B | ||
| Q3 25 | $6.3B | $2.7B | ||
| Q2 25 | $6.0B | $2.9B | ||
| Q1 25 | $5.7B | $3.3B | ||
| Q4 24 | $5.9B | $3.1B | ||
| Q3 24 | $5.4B | $3.4B | ||
| Q2 24 | $5.3B | $3.4B |
负债/权益比APPOPEN
| 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 | $-246.0M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | — |
| 自由现金流率自由现金流/营收 | 69.8% | — |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APPOPEN
| Q1 26 | $1.3B | $-246.0M | ||
| Q4 25 | $1.3B | $70.0M | ||
| Q3 25 | $1.1B | $435.0M | ||
| Q2 25 | $772.2M | $823.0M | ||
| Q1 25 | $831.7M | $-279.0M | ||
| Q4 24 | $701.0M | $-80.0M | ||
| Q3 24 | $550.7M | $62.0M | ||
| Q2 24 | $454.5M | $-399.0M |
自由现金流APPOPEN
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $67.0M | ||
| Q3 25 | — | $432.0M | ||
| Q2 25 | — | $821.0M | ||
| Q1 25 | — | $-283.0M | ||
| Q4 24 | — | $-83.0M | ||
| Q3 24 | — | $56.0M | ||
| Q2 24 | — | $-407.0M |
自由现金流率APPOPEN
| Q1 26 | 69.8% | — | ||
| Q4 25 | — | 9.1% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 52.4% | ||
| Q1 25 | — | -24.5% | ||
| Q4 24 | — | -7.7% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | -26.9% |
资本支出强度APPOPEN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.3% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.5% |
现金转化率APPOPEN
| Q1 26 | 1.07× | — | ||
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.26× | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.17× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.47× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
