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AppLovin Corp（APP）与Rivian Automotive, Inc.（RIVN）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Rivian Automotive, Inc.的1.0倍（$1.3B vs $1.3B），AppLovin Corp净利率更高（82.7% vs -63.1%，领先145.8%），AppLovin Corp同比增速更快（-2.9% vs -25.8%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
APP vs RIVN — 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
APP
高出22.9%
-25.8%
净利率更高
APP
高出145.8%
-63.1%
两年增速更快
APP
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $1.1B | $-811.0M |
| 毛利率 | 95.2% | 9.3% |
| 营业利润率 | — | -64.8% |
| 净利率 | 82.7% | -63.1% |
| 营收同比 | -2.9% | -25.8% |
| 净利润同比 | 84.0% | -9.0% |
| 每股收益（稀释后） | $3.24 | $-0.66 |
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APPRIVN
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.4B | $1.7B | ||
| Q3 24 | $1.2B | $874.0M | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.1B | $1.2B |
净利润APPRIVN
| Q4 25 | $1.1B | $-811.0M | ||
| Q3 25 | $835.5M | $-1.2B | ||
| Q2 25 | $819.5M | $-1.1B | ||
| Q1 25 | $576.4M | $-545.0M | ||
| Q4 24 | $599.2M | $-744.0M | ||
| Q3 24 | $434.4M | $-1.1B | ||
| Q2 24 | $310.0M | $-1.5B | ||
| Q1 24 | $236.2M | $-1.4B |
毛利率APPRIVN
| Q4 25 | 95.2% | 9.3% | ||
| Q3 25 | 87.6% | 1.5% | ||
| Q2 25 | 87.7% | -15.8% | ||
| Q1 25 | 81.7% | 16.6% | ||
| Q4 24 | 76.7% | 9.8% | ||
| Q3 24 | 77.5% | -44.9% | ||
| Q2 24 | 73.8% | -38.9% | ||
| Q1 24 | 72.2% | -43.8% |
营业利润率APPRIVN
| Q4 25 | — | -64.8% | ||
| Q3 25 | 76.8% | -63.1% | ||
| Q2 25 | 76.1% | -85.5% | ||
| Q1 25 | 44.7% | -52.8% | ||
| Q4 24 | 44.3% | -38.1% | ||
| Q3 24 | 44.6% | -133.8% | ||
| Q2 24 | 36.2% | -118.7% | ||
| Q1 24 | 32.1% | -123.3% |
净利率APPRIVN
| Q4 25 | 82.7% | -63.1% | ||
| Q3 25 | 59.5% | -75.3% | ||
| Q2 25 | 65.1% | -85.7% | ||
| Q1 25 | 38.8% | -44.0% | ||
| Q4 24 | 43.6% | -42.9% | ||
| Q3 24 | 36.3% | -125.9% | ||
| Q2 24 | 28.7% | -125.8% | ||
| Q1 24 | 22.3% | -120.1% |
每股收益（稀释后）APPRIVN
| Q4 25 | $3.24 | $-0.66 | ||
| Q3 25 | $2.45 | $-0.96 | ||
| Q2 25 | $2.39 | $-0.97 | ||
| Q1 25 | $1.67 | $-0.48 | ||
| Q4 24 | $1.72 | $-0.67 | ||
| Q3 24 | $1.25 | $-1.08 | ||
| Q2 24 | $0.89 | $-1.46 | ||
| Q1 24 | $0.67 | $-1.48 |
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 | $6.1B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $4.6B |
| 总资产 | $7.3B | $14.9B |
| 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APPRIVN
| Q4 25 | $2.5B | $6.1B | ||
| Q3 25 | $1.7B | $7.1B | ||
| Q2 25 | $1.2B | $7.5B | ||
| Q1 25 | $551.0M | $7.2B | ||
| Q4 24 | $741.4M | $7.7B | ||
| Q3 24 | $567.6M | $6.7B | ||
| Q2 24 | $460.4M | $7.9B | ||
| Q1 24 | $436.3M | $7.9B |
总债务APPRIVN
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | — | $4.4B |
股东权益APPRIVN
| Q4 25 | $2.1B | $4.6B | ||
| Q3 25 | $1.5B | $5.1B | ||
| Q2 25 | $1.2B | $6.1B | ||
| Q1 25 | $575.4M | $6.2B | ||
| Q4 24 | $1.1B | $6.6B | ||
| Q3 24 | $938.2M | $5.9B | ||
| Q2 24 | $814.8M | $6.8B | ||
| Q1 24 | $760.2M | $8.1B |
总资产APPRIVN
| Q4 25 | $7.3B | $14.9B | ||
| Q3 25 | $6.3B | $15.2B | ||
| Q2 25 | $6.0B | $15.6B | ||
| Q1 25 | $5.7B | $15.5B | ||
| Q4 24 | $5.9B | $15.4B | ||
| Q3 24 | $5.4B | $14.3B | ||
| Q2 24 | $5.3B | $15.4B | ||
| Q1 24 | $5.3B | $15.7B |
负债/权益比APPRIVN
| Q4 25 | 1.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.22× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.1B |
| 自由现金流率自由现金流/营收 | — | -89.0% |
| 资本支出强度资本支出/营收 | — | 36.0% |
| 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 | — | $-2.5B |
8季度趋势，按日历期对齐
经营现金流APPRIVN
| Q4 25 | $1.3B | $-681.0M | ||
| Q3 25 | $1.1B | $26.0M | ||
| Q2 25 | $772.2M | $64.0M | ||
| Q1 25 | $831.7M | $-188.0M | ||
| Q4 24 | $701.0M | $1.2B | ||
| Q3 24 | $550.7M | $-876.0M | ||
| Q2 24 | $454.5M | $-754.0M | ||
| Q1 24 | $392.8M | $-1.3B |
自由现金流APPRIVN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | — | $-421.0M | ||
| Q2 25 | — | $-398.0M | ||
| Q1 25 | — | $-526.0M | ||
| Q4 24 | — | $856.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-1.0B | ||
| Q1 24 | — | $-1.5B |
自由现金流率APPRIVN
| Q4 25 | — | -89.0% | ||
| Q3 25 | — | -27.0% | ||
| Q2 25 | — | -30.5% | ||
| Q1 25 | — | -42.4% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | -131.9% | ||
| Q2 24 | — | -89.6% | ||
| Q1 24 | — | -126.5% |
资本支出强度APPRIVN
| Q4 25 | — | 36.0% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 35.5% | ||
| Q1 25 | — | 27.3% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 24.4% | ||
| Q1 24 | — | 21.1% |
现金转化率APPRIVN
| 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× | — | ||
| 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
业务分部营收拆解
APP
| Other | $673.9M | 51% |
| US | $659.0M | 49% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
