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AppLovin Corp（APP）与Zoom Communications, Inc.（ZM）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Zoom Communications, Inc.的1.1倍（$1.3B vs $1.2B）。AppLovin Corp净利率更高（82.7% vs 49.8%，领先32.9%）。Zoom Communications, Inc.同比增速更快（4.4% vs -2.9%）。过去两年AppLovin Corp的营收复合增速更高（12.2% vs 3.6%）
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。
Zoom是总部位于美国加利福尼亚州圣何塞的通信技术企业，旗下核心产品Zoom视频会议软件全球普及度极高，可为企业及个人用户提供高清稳定的远程音视频沟通、线上会议、协同办公等一站式数字化协作解决方案。
APP vs ZM — 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
ZM
高出7.3%
-2.9%
净利率更高
APP
高出32.9%
49.8%
两年增速更快
APP
近两年复合增速
3.6%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $1.1B | $612.9M |
| 毛利率 | 95.2% | 77.9% |
| 营业利润率 | — | 25.2% |
| 净利率 | 82.7% | 49.8% |
| 营收同比 | -2.9% | 4.4% |
| 净利润同比 | 84.0% | 196.0% |
| 每股收益（稀释后） | $3.24 | $2.01 |
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APPZM
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.1B | $1.1B |
净利润APPZM
| Q4 25 | $1.1B | $612.9M | ||
| Q3 25 | $835.5M | $358.6M | ||
| Q2 25 | $819.5M | $254.6M | ||
| Q1 25 | $576.4M | $367.9M | ||
| Q4 24 | $599.2M | $207.1M | ||
| Q3 24 | $434.4M | $219.0M | ||
| Q2 24 | $310.0M | $216.3M | ||
| Q1 24 | $236.2M | $298.8M |
毛利率APPZM
| Q4 25 | 95.2% | 77.9% | ||
| Q3 25 | 87.6% | 77.6% | ||
| Q2 25 | 87.7% | 76.3% | ||
| Q1 25 | 81.7% | 75.7% | ||
| Q4 24 | 76.7% | 75.9% | ||
| Q3 24 | 77.5% | 75.5% | ||
| Q2 24 | 73.8% | 76.1% | ||
| Q1 24 | 72.2% | 75.9% |
营业利润率APPZM
| Q4 25 | — | 25.2% | ||
| Q3 25 | 76.8% | 26.4% | ||
| Q2 25 | 76.1% | 20.6% | ||
| Q1 25 | 44.7% | 19.0% | ||
| Q4 24 | 44.3% | 15.5% | ||
| Q3 24 | 44.6% | 17.4% | ||
| Q2 24 | 36.2% | 17.8% | ||
| Q1 24 | 32.1% | 14.7% |
净利率APPZM
| Q4 25 | 82.7% | 49.8% | ||
| Q3 25 | 59.5% | 29.5% | ||
| Q2 25 | 65.1% | 21.7% | ||
| Q1 25 | 38.8% | 31.1% | ||
| Q4 24 | 43.6% | 17.6% | ||
| Q3 24 | 36.3% | 18.8% | ||
| Q2 24 | 28.7% | 19.0% | ||
| Q1 24 | 22.3% | 26.1% |
每股收益（稀释后）APPZM
| Q4 25 | $3.24 | $2.01 | ||
| Q3 25 | $2.45 | $1.16 | ||
| Q2 25 | $2.39 | $0.81 | ||
| Q1 25 | $1.67 | $1.16 | ||
| Q4 24 | $1.72 | $0.66 | ||
| Q3 24 | $1.25 | $0.70 | ||
| Q2 24 | $0.89 | $0.69 | ||
| Q1 24 | $0.67 | $0.98 |
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 | $1.2B |
| 总债务越低越好 | $3.5B | — |
| 股东权益账面价值 | $2.1B | $9.3B |
| 总资产 | $7.3B | $11.4B |
| 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APPZM
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $551.0M | $1.3B | ||
| Q4 24 | $741.4M | $1.3B | ||
| Q3 24 | $567.6M | $1.5B | ||
| Q2 24 | $460.4M | $1.9B | ||
| Q1 24 | $436.3M | $1.6B |
总债务APPZM
| Q4 25 | $3.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益APPZM
| Q4 25 | $2.1B | $9.3B | ||
| Q3 25 | $1.5B | $9.0B | ||
| Q2 25 | $1.2B | $8.9B | ||
| Q1 25 | $575.4M | $8.9B | ||
| Q4 24 | $1.1B | $8.7B | ||
| Q3 24 | $938.2M | $8.5B | ||
| Q2 24 | $814.8M | $8.3B | ||
| Q1 24 | $760.2M | $8.0B |
总资产APPZM
| Q4 25 | $7.3B | $11.4B | ||
| Q3 25 | $6.3B | $11.0B | ||
| Q2 25 | $6.0B | $11.0B | ||
| Q1 25 | $5.7B | $11.0B | ||
| Q4 24 | $5.9B | $10.7B | ||
| Q3 24 | $5.4B | $10.5B | ||
| Q2 24 | $5.3B | $10.3B | ||
| Q1 24 | $5.3B | $9.9B |
负债/权益比APPZM
| 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 | $629.3M |
| 自由现金流经营现金流 - 资本支出 | — | $614.3M |
| 自由现金流率自由现金流/营收 | — | 50.0% |
| 资本支出强度资本支出/营收 | — | 1.2% |
| 现金转化率经营现金流/净利润 | 1.19× | 1.03× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流APPZM
| Q4 25 | $1.3B | $629.3M | ||
| Q3 25 | $1.1B | $515.9M | ||
| Q2 25 | $772.2M | $489.3M | ||
| Q1 25 | $831.7M | $424.6M | ||
| Q4 24 | $701.0M | $483.2M | ||
| Q3 24 | $550.7M | $449.3M | ||
| Q2 24 | $454.5M | $588.2M | ||
| Q1 24 | $392.8M | $351.2M |
自由现金流APPZM
| Q4 25 | — | $614.3M | ||
| Q3 25 | — | $508.0M | ||
| Q2 25 | — | $463.4M | ||
| Q1 25 | — | $416.2M | ||
| Q4 24 | — | $457.7M | ||
| Q3 24 | — | $365.1M | ||
| Q2 24 | — | $569.7M | ||
| Q1 24 | — | $332.7M |
自由现金流率APPZM
| Q4 25 | — | 50.0% | ||
| Q3 25 | — | 41.7% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 38.9% | ||
| Q3 24 | — | 31.4% | ||
| Q2 24 | — | 49.9% | ||
| Q1 24 | — | 29.0% |
资本支出强度APPZM
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.6% |
现金转化率APPZM
| Q4 25 | 1.19× | 1.03× | ||
| Q3 25 | 1.26× | 1.44× | ||
| Q2 25 | 0.94× | 1.92× | ||
| Q1 25 | 1.44× | 1.15× | ||
| Q4 24 | 1.17× | 2.33× | ||
| Q3 24 | 1.27× | 2.05× | ||
| Q2 24 | 1.47× | 2.72× | ||
| Q1 24 | 1.66× | 1.18× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
