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AppLovin Corp（APP）与先锋自然资源公司（PR）财务数据对比。点击上方公司名可切换其他公司
AppLovin Corp的季度营收约是先锋自然资源公司的1.1倍（$1.3B vs $1.2B），AppLovin Corp净利率更高（82.7% vs 29.0%，领先53.7%），AppLovin Corp同比增速更快（-2.9% vs -9.8%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs -3.0%）
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。
先锋自然资源公司总部位于美国得克萨斯州欧文市，主要从事油气勘探业务，运营覆盖二叠纪盆地Spraberry产区的克莱恩页岩区块，是该区域最大的土地权益持有方，2024年5月被埃克森美孚收购。
APP vs PR — 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
APP
高出6.9%
-9.8%
净利率更高
APP
高出53.7%
29.0%
两年增速更快
APP
近两年复合增速
-3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $1.1B | $339.5M |
| 毛利率 | 95.2% | — |
| 营业利润率 | — | 23.1% |
| 净利率 | 82.7% | 29.0% |
| 营收同比 | -2.9% | -9.8% |
| 净利润同比 | 84.0% | 56.7% |
| 每股收益（稀释后） | $3.24 | $0.48 |
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APPPR
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.1B | $1.2B |
净利润APPPR
| Q4 25 | $1.1B | $339.5M | ||
| Q3 25 | $835.5M | $59.2M | ||
| Q2 25 | $819.5M | $207.1M | ||
| Q1 25 | $576.4M | $329.3M | ||
| Q4 24 | $599.2M | $216.7M | ||
| Q3 24 | $434.4M | $386.4M | ||
| Q2 24 | $310.0M | $235.1M | ||
| Q1 24 | $236.2M | $146.6M |
毛利率APPPR
| Q4 25 | 95.2% | — | ||
| Q3 25 | 87.6% | — | ||
| Q2 25 | 87.7% | — | ||
| Q1 25 | 81.7% | — | ||
| Q4 24 | 76.7% | — | ||
| Q3 24 | 77.5% | — | ||
| Q2 24 | 73.8% | — | ||
| Q1 24 | 72.2% | — |
营业利润率APPPR
| Q4 25 | — | 23.1% | ||
| Q3 25 | 76.8% | 29.6% | ||
| Q2 25 | 76.1% | 24.8% | ||
| Q1 25 | 44.7% | 36.6% | ||
| Q4 24 | 44.3% | 32.8% | ||
| Q3 24 | 44.6% | 32.5% | ||
| Q2 24 | 36.2% | 36.5% | ||
| Q1 24 | 32.1% | 37.7% |
净利率APPPR
| Q4 25 | 82.7% | 29.0% | ||
| Q3 25 | 59.5% | 4.5% | ||
| Q2 25 | 65.1% | 17.3% | ||
| Q1 25 | 38.8% | 23.9% | ||
| Q4 24 | 43.6% | 16.7% | ||
| Q3 24 | 36.3% | 31.8% | ||
| Q2 24 | 28.7% | 18.9% | ||
| Q1 24 | 22.3% | 11.8% |
每股收益（稀释后）APPPR
| Q4 25 | $3.24 | $0.48 | ||
| Q3 25 | $2.45 | $0.08 | ||
| Q2 25 | $2.39 | $0.28 | ||
| Q1 25 | $1.67 | $0.44 | ||
| Q4 24 | $1.72 | $0.31 | ||
| Q3 24 | $1.25 | $0.53 | ||
| Q2 24 | $0.89 | $0.36 | ||
| Q1 24 | $0.67 | $0.25 |
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 | $153.7M |
| 总债务越低越好 | $3.5B | $3.5B |
| 股东权益账面价值 | $2.1B | $10.3B |
| 总资产 | $7.3B | $17.9B |
| 负债/权益比越低杠杆越低 | 1.65× | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资APPPR
| Q4 25 | $2.5B | $153.7M | ||
| Q3 25 | $1.7B | $111.8M | ||
| Q2 25 | $1.2B | $451.0M | ||
| Q1 25 | $551.0M | $702.2M | ||
| Q4 24 | $741.4M | $479.3M | ||
| Q3 24 | $567.6M | $272.0M | ||
| Q2 24 | $460.4M | $47.8M | ||
| Q1 24 | $436.3M | $12.7M |
总债务APPPR
| Q4 25 | $3.5B | $3.5B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | $3.5B | $4.2B | ||
| Q3 24 | — | $4.2B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | — | $3.9B |
股东权益APPPR
| Q4 25 | $2.1B | $10.3B | ||
| Q3 25 | $1.5B | $10.0B | ||
| Q2 25 | $1.2B | $9.5B | ||
| Q1 25 | $575.4M | $9.4B | ||
| Q4 24 | $1.1B | $9.1B | ||
| Q3 24 | $938.2M | $9.0B | ||
| Q2 24 | $814.8M | $8.3B | ||
| Q1 24 | $760.2M | $7.0B |
总资产APPPR
| Q4 25 | $7.3B | $17.9B | ||
| Q3 25 | $6.3B | $17.3B | ||
| Q2 25 | $6.0B | $17.5B | ||
| Q1 25 | $5.7B | $17.1B | ||
| Q4 24 | $5.9B | $16.9B | ||
| Q3 24 | $5.4B | $16.6B | ||
| Q2 24 | $5.3B | $15.4B | ||
| Q1 24 | $5.3B | $15.1B |
负债/权益比APPPR
| Q4 25 | 1.65× | 0.34× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | 3.22× | 0.46× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.56× |
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 | $904.3M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | 1.19× | 2.66× |
| 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APPPR
| Q4 25 | $1.3B | $904.3M | ||
| Q3 25 | $1.1B | $766.5M | ||
| Q2 25 | $772.2M | $1.0B | ||
| Q1 25 | $831.7M | $898.0M | ||
| Q4 24 | $701.0M | $871.6M | ||
| Q3 24 | $550.7M | $954.4M | ||
| Q2 24 | $454.5M | $938.4M | ||
| Q1 24 | $392.8M | $647.6M |
现金转化率APPPR
| Q4 25 | 1.19× | 2.66× | ||
| Q3 25 | 1.26× | 12.94× | ||
| Q2 25 | 0.94× | 5.01× | ||
| Q1 25 | 1.44× | 2.73× | ||
| Q4 24 | 1.17× | 4.02× | ||
| Q3 24 | 1.27× | 2.47× | ||
| Q2 24 | 1.47× | 3.99× | ||
| Q1 24 | 1.66× | 4.42× |
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% |
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
