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AppLovin Corp（APP）与PINTEREST, INC.（PINS）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PINTEREST, INC.的1.0倍（$1.3B vs $1.3B）。AppLovin Corp净利率更高（82.7% vs 21.0%，领先61.7%）。PINTEREST, INC.同比增速更快（14.3% vs -2.9%）。过去两年PINTEREST, INC.的营收复合增速更高（33.5% vs 12.2%）
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。
Pinterest是美国社交媒体服务商，主打数字图板形式的信息发布与发现功能，用户可通过图片分享获取食谱、家居、穿搭、创意灵感等多元内容。公司由本·西尔伯曼、保罗·夏拉、埃文·夏普联合创立，总部位于旧金山。
APP vs PINS — 直观对比
营收规模更大
APP
是对方的1.0倍
$1.3B
营收增速更快
PINS
高出17.2%
-2.9%
净利率更高
APP
高出61.7%
21.0%
两年增速更快
PINS
近两年复合增速
12.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $1.1B | $277.1M |
| 毛利率 | 95.2% | 82.8% |
| 营业利润率 | — | 22.8% |
| 净利率 | 82.7% | 21.0% |
| 营收同比 | -2.9% | 14.3% |
| 净利润同比 | 84.0% | -85.0% |
| 每股收益（稀释后） | $3.24 | $0.41 |
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APPPINS
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.4B | $1.0B | ||
| Q2 25 | $1.3B | $998.2M | ||
| Q1 25 | $1.5B | $855.0M | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.2B | $898.4M | ||
| Q2 24 | $1.1B | $853.7M | ||
| Q1 24 | $1.1B | $740.0M |
净利润APPPINS
| Q4 25 | $1.1B | $277.1M | ||
| Q3 25 | $835.5M | $92.1M | ||
| Q2 25 | $819.5M | $38.8M | ||
| Q1 25 | $576.4M | $8.9M | ||
| Q4 24 | $599.2M | $1.8B | ||
| Q3 24 | $434.4M | $30.6M | ||
| Q2 24 | $310.0M | $8.9M | ||
| Q1 24 | $236.2M | $-24.8M |
毛利率APPPINS
| Q4 25 | 95.2% | 82.8% | ||
| Q3 25 | 87.6% | 79.8% | ||
| Q2 25 | 87.7% | 79.7% | ||
| Q1 25 | 81.7% | 76.7% | ||
| Q4 24 | 76.7% | 82.9% | ||
| Q3 24 | 77.5% | 79.1% | ||
| Q2 24 | 73.8% | 78.3% | ||
| Q1 24 | 72.2% | 75.5% |
营业利润率APPPINS
| Q4 25 | — | 22.8% | ||
| Q3 25 | 76.8% | 5.6% | ||
| Q2 25 | 76.1% | -0.4% | ||
| Q1 25 | 44.7% | -4.1% | ||
| Q4 24 | 44.3% | 22.7% | ||
| Q3 24 | 44.6% | -0.7% | ||
| Q2 24 | 36.2% | -2.5% | ||
| Q1 24 | 32.1% | -7.4% |
净利率APPPINS
| Q4 25 | 82.7% | 21.0% | ||
| Q3 25 | 59.5% | 8.8% | ||
| Q2 25 | 65.1% | 3.9% | ||
| Q1 25 | 38.8% | 1.0% | ||
| Q4 24 | 43.6% | 160.1% | ||
| Q3 24 | 36.3% | 3.4% | ||
| Q2 24 | 28.7% | 1.0% | ||
| Q1 24 | 22.3% | -3.4% |
每股收益（稀释后）APPPINS
| Q4 25 | $3.24 | $0.41 | ||
| Q3 25 | $2.45 | $0.13 | ||
| Q2 25 | $2.39 | $0.06 | ||
| Q1 25 | $1.67 | $0.01 | ||
| Q4 24 | $1.72 | $2.66 | ||
| Q3 24 | $1.25 | $0.04 | ||
| Q2 24 | $0.89 | $0.01 | ||
| Q1 24 | $0.67 | $-0.04 |
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 | $969.3M |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $4.7B |
| 总资产 | $7.3B | $5.5B |
| 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APPPINS
| Q4 25 | $2.5B | $969.3M | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $551.0M | $1.3B | ||
| Q4 24 | $741.4M | $1.1B | ||
| Q3 24 | $567.6M | $1.0B | ||
| Q2 24 | $460.4M | $1.4B | ||
| Q1 24 | $436.3M | $1.6B |
总债务APPPINS
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPPINS
| Q4 25 | $2.1B | $4.7B | ||
| Q3 25 | $1.5B | $4.8B | ||
| Q2 25 | $1.2B | $4.8B | ||
| Q1 25 | $575.4M | $4.7B | ||
| Q4 24 | $1.1B | $4.8B | ||
| Q3 24 | $938.2M | $2.9B | ||
| Q2 24 | $814.8M | $3.2B | ||
| Q1 24 | $760.2M | $3.1B |
总资产APPPINS
| Q4 25 | $7.3B | $5.5B | ||
| Q3 25 | $6.3B | $5.5B | ||
| Q2 25 | $6.0B | $5.4B | ||
| Q1 25 | $5.7B | $5.3B | ||
| Q4 24 | $5.9B | $5.3B | ||
| Q3 24 | $5.4B | $3.5B | ||
| Q2 24 | $5.3B | $3.7B | ||
| Q1 24 | $5.3B | $3.7B |
负债/权益比APPPINS
| 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 | $391.2M |
| 自由现金流经营现金流 - 资本支出 | — | $380.4M |
| 自由现金流率自由现金流/营收 | — | 28.8% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | 1.19× | 1.41× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流APPPINS
| Q4 25 | $1.3B | $391.2M | ||
| Q3 25 | $1.1B | $321.7M | ||
| Q2 25 | $772.2M | $207.7M | ||
| Q1 25 | $831.7M | $363.7M | ||
| Q4 24 | $701.0M | $254.0M | ||
| Q3 24 | $550.7M | $248.0M | ||
| Q2 24 | $454.5M | $106.4M | ||
| Q1 24 | $392.8M | $356.1M |
自由现金流APPPINS
| Q4 25 | — | $380.4M | ||
| Q3 25 | — | $318.4M | ||
| Q2 25 | — | $196.7M | ||
| Q1 25 | — | $356.4M | ||
| Q4 24 | — | $250.2M | ||
| Q3 24 | — | $244.1M | ||
| Q2 24 | — | $101.6M | ||
| Q1 24 | — | $344.0M |
自由现金流率APPPINS
| Q4 25 | — | 28.8% | ||
| Q3 25 | — | 30.3% | ||
| Q2 25 | — | 19.7% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | — | 46.5% |
资本支出强度APPPINS
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 1.6% |
现金转化率APPPINS
| Q4 25 | 1.19× | 1.41× | ||
| Q3 25 | 1.26× | 3.49× | ||
| Q2 25 | 0.94× | 5.36× | ||
| Q1 25 | 1.44× | 40.77× | ||
| Q4 24 | 1.17× | 0.14× | ||
| Q3 24 | 1.27× | 8.12× | ||
| Q2 24 | 1.47× | 11.98× | ||
| Q1 24 | 1.66× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
