vs
AppLovin Corp（APP）与道富集团（STT）财务数据对比。点击上方公司名可切换其他公司
道富集团的季度营收约是AppLovin Corp的2.0倍（$3.7B vs $1.8B），AppLovin Corp净利率更高（65.5% vs 20.4%，领先45.1%），AppLovin Corp同比增速更快（59.0% vs 7.5%），道富集团自由现金流更多（$9.8B vs $1.3B），过去两年AppLovin Corp的营收复合增速更高（30.6% vs 8.1%）
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。
道富集团是总部位于美国波士顿的跨国金融服务及银行控股公司，历史可追溯至1792年成立的联合银行，是美国运营历史第二悠久的存续银行。作为全球顶尖的资产管理与托管机构，截至2025年第三季度，其管理资产规模约5.4万亿美元，托管及管理资产总规模达51.7万亿美元。
APP vs STT — 直观对比
营收规模更大
STT
是对方的2.0倍
$1.8B
营收增速更快
APP
高出51.5%
7.5%
净利率更高
APP
高出45.1%
20.4%
自由现金流更多
STT
多$8.5B
$1.3B
两年增速更快
APP
近两年复合增速
8.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.7B |
| 净利润 | $1.2B | $747.0M |
| 毛利率 | 88.9% | — |
| 营业利润率 | 78.2% | 25.0% |
| 净利率 | 65.5% | 20.4% |
| 营收同比 | 59.0% | 7.5% |
| 净利润同比 | 109.2% | -4.6% |
| 每股收益（稀释后） | $3.56 | $2.41 |
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APPSTT
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.3B | $3.7B | ||
| Q3 25 | $1.4B | $3.5B | ||
| Q2 25 | $1.3B | $3.4B | ||
| Q1 25 | $1.5B | $3.3B | ||
| Q4 24 | $1.4B | $3.4B | ||
| Q3 24 | $1.2B | $3.3B | ||
| Q2 24 | $1.1B | $3.2B |
净利润APPSTT
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.1B | $747.0M | ||
| Q3 25 | $835.5M | $861.0M | ||
| Q2 25 | $819.5M | $693.0M | ||
| Q1 25 | $576.4M | $644.0M | ||
| Q4 24 | $599.2M | $783.0M | ||
| Q3 24 | $434.4M | $730.0M | ||
| Q2 24 | $310.0M | $711.0M |
毛利率APPSTT
| Q1 26 | 88.9% | — | ||
| 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% | — |
营业利润率APPSTT
| Q1 26 | 78.2% | — | ||
| Q4 25 | — | 25.0% | ||
| Q3 25 | 76.8% | 31.1% | ||
| Q2 25 | 76.1% | 25.8% | ||
| Q1 25 | 44.7% | 25.0% | ||
| Q4 24 | 44.3% | 28.1% | ||
| Q3 24 | 44.6% | 28.4% | ||
| Q2 24 | 36.2% | 28.6% |
净利率APPSTT
| Q1 26 | 65.5% | — | ||
| Q4 25 | 82.7% | 20.4% | ||
| Q3 25 | 59.5% | 24.3% | ||
| Q2 25 | 65.1% | 20.1% | ||
| Q1 25 | 38.8% | 19.6% | ||
| Q4 24 | 43.6% | 22.9% | ||
| Q3 24 | 36.3% | 22.4% | ||
| Q2 24 | 28.7% | 22.3% |
每股收益（稀释后）APPSTT
| Q1 26 | $3.56 | — | ||
| Q4 25 | $3.24 | $2.41 | ||
| Q3 25 | $2.45 | $2.78 | ||
| Q2 25 | $2.39 | $2.17 | ||
| Q1 25 | $1.67 | $2.04 | ||
| Q4 24 | $1.72 | $2.43 | ||
| Q3 24 | $1.25 | $2.26 | ||
| Q2 24 | $0.89 | $2.15 |
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 | $2.8B | — |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.4B | $27.8B |
| 总资产 | $7.7B | $366.0B |
| 负债/权益比越低杠杆越低 | 1.49× | — |
8季度趋势，按日历期对齐
现金及短期投资APPSTT
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $551.0M | — | ||
| Q4 24 | $741.4M | — | ||
| Q3 24 | $567.6M | — | ||
| Q2 24 | $460.4M | — |
总债务APPSTT
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APPSTT
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.1B | $27.8B | ||
| Q3 25 | $1.5B | $27.6B | ||
| Q2 25 | $1.2B | $27.3B | ||
| Q1 25 | $575.4M | $26.7B | ||
| Q4 24 | $1.1B | $25.3B | ||
| Q3 24 | $938.2M | $25.8B | ||
| Q2 24 | $814.8M | $24.8B |
总资产APPSTT
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.3B | $366.0B | ||
| Q3 25 | $6.3B | $371.1B | ||
| Q2 25 | $6.0B | $376.7B | ||
| Q1 25 | $5.7B | $372.7B | ||
| Q4 24 | $5.9B | $353.2B | ||
| Q3 24 | $5.4B | $338.5B | ||
| Q2 24 | $5.3B | $325.6B |
负债/权益比APPSTT
| Q1 26 | 1.49× | — | ||
| Q4 25 | 1.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.22× | — | ||
| 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 | $10.0B |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $9.8B |
| 自由现金流率自由现金流/营收 | 69.8% | 266.6% |
| 资本支出强度资本支出/营收 | — | 7.3% |
| 现金转化率经营现金流/净利润 | 1.07× | 13.44× |
| 过去12个月自由现金流最近4个季度 | — | $10.8B |
8季度趋势，按日历期对齐
经营现金流APPSTT
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $10.0B | ||
| Q3 25 | $1.1B | $7.9B | ||
| Q2 25 | $772.2M | $-8.4B | ||
| Q1 25 | $831.7M | $2.4B | ||
| Q4 24 | $701.0M | $-7.4B | ||
| Q3 24 | $550.7M | $2.7B | ||
| Q2 24 | $454.5M | $-7.6B |
自由现金流APPSTT
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $9.8B | ||
| Q3 25 | — | $7.7B | ||
| Q2 25 | — | $-8.8B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $-7.7B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $-7.9B |
自由现金流率APPSTT
| Q1 26 | 69.8% | — | ||
| Q4 25 | — | 266.6% | ||
| Q3 25 | — | 216.0% | ||
| Q2 25 | — | -254.1% | ||
| Q1 25 | — | 66.1% | ||
| Q4 24 | — | -225.1% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | -246.2% |
资本支出强度APPSTT
| Q1 26 | — | — | ||
| Q4 25 | — | 7.3% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 6.7% |
现金转化率APPSTT
| Q1 26 | 1.07× | — | ||
| Q4 25 | 1.19× | 13.44× | ||
| Q3 25 | 1.26× | 9.18× | ||
| Q2 25 | 0.94× | -12.18× | ||
| Q1 25 | 1.44× | 3.72× | ||
| Q4 24 | 1.17× | -9.49× | ||
| Q3 24 | 1.27× | 3.71× | ||
| Q2 24 | 1.47× | -10.75× |
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
暂无分部数据
STT
| Other | $2.2B | 59% |
| Investment Management | $729.0M | 20% |
| Management Services | $662.0M | 18% |
| Other Fee Revenue | $56.0M | 2% |
| Securities Financing Services | $54.0M | 1% |
