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AppLovin Corp（APP）与ROKU, INC（ROKU）财务数据对比。点击上方公司名可切换其他公司
ROKU, INC的季度营收约是AppLovin Corp的1.0倍（$1.4B vs $1.3B），AppLovin Corp净利率更高（82.7% vs 5.8%，领先76.9%），ROKU, INC同比增速更快（16.1% vs -2.9%），过去两年ROKU, INC的营收复合增速更高（25.8% 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。
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
APP vs ROKU — 直观对比
营收规模更大
ROKU
是对方的1.0倍
$1.3B
营收增速更快
ROKU
高出19.0%
-2.9%
净利率更高
APP
高出76.9%
5.8%
两年增速更快
ROKU
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.4B |
| 净利润 | $1.1B | $80.5M |
| 毛利率 | 95.2% | 43.5% |
| 营业利润率 | — | 4.7% |
| 净利率 | 82.7% | 5.8% |
| 营收同比 | -2.9% | 16.1% |
| 净利润同比 | 84.0% | 326.4% |
| 每股收益（稀释后） | $3.24 | $0.55 |
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APPROKU
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.1B | $968.2M | ||
| Q1 24 | $1.1B | $881.5M |
净利润APPROKU
| Q4 25 | $1.1B | $80.5M | ||
| Q3 25 | $835.5M | $24.8M | ||
| Q2 25 | $819.5M | $10.5M | ||
| Q1 25 | $576.4M | $-27.4M | ||
| Q4 24 | $599.2M | $-35.5M | ||
| Q3 24 | $434.4M | $-9.0M | ||
| Q2 24 | $310.0M | $-34.0M | ||
| Q1 24 | $236.2M | $-50.9M |
毛利率APPROKU
| Q4 25 | 95.2% | 43.5% | ||
| Q3 25 | 87.6% | 43.4% | ||
| Q2 25 | 87.7% | 44.8% | ||
| Q1 25 | 81.7% | 43.6% | ||
| Q4 24 | 76.7% | 42.7% | ||
| Q3 24 | 77.5% | 45.2% | ||
| Q2 24 | 73.8% | 43.9% | ||
| Q1 24 | 72.2% | 44.1% |
营业利润率APPROKU
| Q4 25 | — | 4.7% | ||
| Q3 25 | 76.8% | 0.8% | ||
| Q2 25 | 76.1% | -2.1% | ||
| Q1 25 | 44.7% | -5.7% | ||
| Q4 24 | 44.3% | -3.3% | ||
| Q3 24 | 44.6% | -3.4% | ||
| Q2 24 | 36.2% | -7.4% | ||
| Q1 24 | 32.1% | -8.2% |
净利率APPROKU
| Q4 25 | 82.7% | 5.8% | ||
| Q3 25 | 59.5% | 2.0% | ||
| Q2 25 | 65.1% | 0.9% | ||
| Q1 25 | 38.8% | -2.7% | ||
| Q4 24 | 43.6% | -3.0% | ||
| Q3 24 | 36.3% | -0.9% | ||
| Q2 24 | 28.7% | -3.5% | ||
| Q1 24 | 22.3% | -5.8% |
每股收益（稀释后）APPROKU
| Q4 25 | $3.24 | $0.55 | ||
| Q3 25 | $2.45 | $0.16 | ||
| Q2 25 | $2.39 | $0.07 | ||
| Q1 25 | $1.67 | $-0.19 | ||
| Q4 24 | $1.72 | $-0.24 | ||
| Q3 24 | $1.25 | $-0.06 | ||
| Q2 24 | $0.89 | $-0.24 | ||
| Q1 24 | $0.67 | $-0.35 |
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 | $2.3B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $2.7B |
| 总资产 | $7.3B | $4.4B |
| 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APPROKU
| Q4 25 | $2.5B | $2.3B | ||
| Q3 25 | $1.7B | $2.3B | ||
| Q2 25 | $1.2B | $2.3B | ||
| Q1 25 | $551.0M | $2.3B | ||
| Q4 24 | $741.4M | $2.2B | ||
| Q3 24 | $567.6M | $2.1B | ||
| Q2 24 | $460.4M | $2.1B | ||
| Q1 24 | $436.3M | $2.1B |
总债务APPROKU
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPROKU
| Q4 25 | $2.1B | $2.7B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.2B | $2.6B | ||
| Q1 25 | $575.4M | $2.5B | ||
| Q4 24 | $1.1B | $2.5B | ||
| Q3 24 | $938.2M | $2.5B | ||
| Q2 24 | $814.8M | $2.4B | ||
| Q1 24 | $760.2M | $2.4B |
总资产APPROKU
| Q4 25 | $7.3B | $4.4B | ||
| Q3 25 | $6.3B | $4.4B | ||
| Q2 25 | $6.0B | $4.3B | ||
| Q1 25 | $5.7B | $4.2B | ||
| Q4 24 | $5.9B | $4.3B | ||
| Q3 24 | $5.4B | $4.3B | ||
| Q2 24 | $5.3B | $4.1B | ||
| Q1 24 | $5.3B | $4.2B |
负债/权益比APPROKU
| 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 | $107.7M |
| 自由现金流经营现金流 - 资本支出 | — | $106.6M |
| 自由现金流率自由现金流/营收 | — | 7.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | 1.19× | 1.34× |
| 过去12个月自由现金流最近4个季度 | — | $478.4M |
8季度趋势，按日历期对齐
经营现金流APPROKU
| Q4 25 | $1.3B | $107.7M | ||
| Q3 25 | $1.1B | $127.6M | ||
| Q2 25 | $772.2M | $109.7M | ||
| Q1 25 | $831.7M | $138.7M | ||
| Q4 24 | $701.0M | $79.3M | ||
| Q3 24 | $550.7M | $68.7M | ||
| Q2 24 | $454.5M | $23.4M | ||
| Q1 24 | $392.8M | $46.7M |
自由现金流APPROKU
| Q4 25 | — | $106.6M | ||
| Q3 25 | — | $126.5M | ||
| Q2 25 | — | $108.6M | ||
| Q1 25 | — | $136.8M | ||
| Q4 24 | — | $76.8M | ||
| Q3 24 | — | $67.6M | ||
| Q2 24 | — | $22.5M | ||
| Q1 24 | — | $46.0M |
自由现金流率APPROKU
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 13.4% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | — | 6.4% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 5.2% |
资本支出强度APPROKU
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.1% |
现金转化率APPROKU
| Q4 25 | 1.19× | 1.34× | ||
| Q3 25 | 1.26× | 5.14× | ||
| Q2 25 | 0.94× | 10.45× | ||
| 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% |
ROKU
| Services | $1.2B | 88% |
| Products | $170.9M | 12% |
