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AppLovin Corp（APP）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是AppLovin Corp的1.3倍（$1.7B vs $1.3B），AppLovin Corp净利率更高（82.7% vs 3.7%，领先79.0%），AppLovin Corp同比增速更快（-2.9% vs -9.0%），过去两年AppLovin Corp的营收复合增速更高（12.2% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
APP vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.3倍
$1.3B
营收增速更快
APP
高出6.1%
-9.0%
净利率更高
APP
高出79.0%
3.7%
两年增速更快
APP
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.7B |
| 净利润 | $1.1B | $61.7M |
| 毛利率 | 95.2% | 20.4% |
| 营业利润率 | — | 4.9% |
| 净利率 | 82.7% | 3.7% |
| 营收同比 | -2.9% | -9.0% |
| 净利润同比 | 84.0% | 1.8% |
| 每股收益（稀释后） | $3.24 | $0.77 |
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APPRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.5B | $1.8B | ||
| Q4 24 | $1.4B | $1.9B | ||
| Q3 24 | $1.2B | $1.8B | ||
| Q2 24 | $1.1B | $1.9B |
净利润APPRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $1.1B | $64.3M | ||
| Q3 25 | $835.5M | $66.7M | ||
| Q2 25 | $819.5M | $72.4M | ||
| Q1 25 | $576.4M | $60.3M | ||
| Q4 24 | $599.2M | $74.8M | ||
| Q3 24 | $434.4M | $79.1M | ||
| Q2 24 | $310.0M | $78.7M |
毛利率APPRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | 95.2% | 20.8% | ||
| Q3 25 | 87.6% | 21.0% | ||
| Q2 25 | 87.7% | 20.7% | ||
| Q1 25 | 81.7% | 20.3% | ||
| Q4 24 | 76.7% | 19.3% | ||
| Q3 24 | 77.5% | 21.0% | ||
| Q2 24 | 73.8% | 20.2% |
营业利润率APPRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | — | 5.5% | ||
| Q3 25 | 76.8% | 5.6% | ||
| Q2 25 | 76.1% | 6.0% | ||
| Q1 25 | 44.7% | 5.2% | ||
| Q4 24 | 44.3% | 5.8% | ||
| Q3 24 | 44.6% | 6.7% | ||
| Q2 24 | 36.2% | 6.4% |
净利率APPRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 82.7% | 3.8% | ||
| Q3 25 | 59.5% | 3.7% | ||
| Q2 25 | 65.1% | 3.9% | ||
| Q1 25 | 38.8% | 3.4% | ||
| Q4 24 | 43.6% | 3.9% | ||
| Q3 24 | 36.3% | 4.4% | ||
| Q2 24 | 28.7% | 4.1% |
每股收益（稀释后）APPRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $3.24 | $0.81 | ||
| Q3 25 | $2.45 | $0.83 | ||
| Q2 25 | $2.39 | $0.90 | ||
| Q1 25 | $1.67 | $0.73 | ||
| Q4 24 | $1.72 | $-95.13 | ||
| Q3 24 | $1.25 | $0.97 | ||
| Q2 24 | $0.89 | $97.00 |
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 | — |
| 总债务越低越好 | $3.5B | $277.8M |
| 股东权益账面价值 | $2.1B | $2.3B |
| 总资产 | $7.3B | $4.5B |
| 负债/权益比越低杠杆越低 | 1.65× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资APPRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $212.6M | ||
| Q3 25 | $1.7B | $242.0M | ||
| Q2 25 | $1.2B | $211.1M | ||
| Q1 25 | $551.0M | $228.7M | ||
| Q4 24 | $741.4M | $228.1M | ||
| Q3 24 | $567.6M | $185.1M | ||
| Q2 24 | $460.4M | $167.3M |
总债务APPRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $3.5B | $274.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | $408.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APPRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $2.1B | $2.2B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.2B | $2.2B | ||
| Q1 25 | $575.4M | $2.2B | ||
| Q4 24 | $1.1B | $2.1B | ||
| Q3 24 | $938.2M | $2.1B | ||
| Q2 24 | $814.8M | $2.0B |
总资产APPRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $7.3B | $4.4B | ||
| Q3 25 | $6.3B | $4.6B | ||
| Q2 25 | $6.0B | $4.7B | ||
| Q1 25 | $5.7B | $4.7B | ||
| Q4 24 | $5.9B | $4.6B | ||
| Q3 24 | $5.4B | $4.6B | ||
| Q2 24 | $5.3B | $4.5B |
负债/权益比APPRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 1.65× | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.22× | 0.19× | ||
| 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 | — |
| 自由现金流经营现金流 - 资本支出 | — | $411.6M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 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 | — | $828.4M |
8季度趋势，按日历期对齐
经营现金流APPRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $112.9M | ||
| Q3 25 | $1.1B | $367.8M | ||
| Q2 25 | $772.2M | $227.6M | ||
| Q1 25 | $831.7M | $153.5M | ||
| Q4 24 | $701.0M | $392.3M | ||
| Q3 24 | $550.7M | $111.7M | ||
| Q2 24 | $454.5M | $270.6M |
自由现金流APPRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | — | $31.9M | ||
| Q3 25 | — | $271.2M | ||
| Q2 25 | — | $113.8M | ||
| Q1 25 | — | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | — | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率APPRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度APPRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 4.8% |
现金转化率APPRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | 1.75× | ||
| Q3 25 | 1.26× | 5.51× | ||
| Q2 25 | 0.94× | 3.14× | ||
| Q1 25 | 1.44× | 2.55× | ||
| Q4 24 | 1.17× | 5.25× | ||
| Q3 24 | 1.27× | 1.41× | ||
| Q2 24 | 1.47× | 3.44× |
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% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
