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APPIAN CORP（APPN）与Forestar Group Inc.（FOR）财务数据对比。点击上方公司名可切换其他公司
Forestar Group Inc.的季度营收约是APPIAN CORP的1.3倍（$273.0M vs $202.9M），Forestar Group Inc.净利率更高（5.6% vs -2.5%，领先8.2%），APPIAN CORP同比增速更快（21.7% vs 9.0%），APPIAN CORP自由现金流更多（$270.0K vs $-157.1M），过去两年APPIAN CORP的营收复合增速更高（16.4% vs -9.6%）
Appian是总部位于美国弗吉尼亚州麦克莱恩的云计算与企业软件厂商，身处杜勒斯科技走廊产业带。公司提供平台即服务（PaaS）产品，支持企业级软件开发，业务覆盖北美、欧洲、中东及东南亚市场，深耕低代码开发、流程挖掘、业务流程管理和案例管理领域。
福雷斯特集团是一家住宅地块开发企业，总部位于得克萨斯州阿灵顿，业务覆盖美国21个州的51个市场。截至2020年12月31日的12个月内，该公司交付了11518块住宅地块，目前在纽约证券交易所上市，自2002年起就是美国规模最大的住宅建筑商D.R. Horton的控股子公司。
APPN vs FOR — 直观对比
营收规模更大
FOR
是对方的1.3倍
$202.9M
营收增速更快
APPN
高出12.7%
9.0%
净利率更高
FOR
高出8.2%
-2.5%
自由现金流更多
APPN
多$157.4M
$-157.1M
两年增速更快
APPN
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $202.9M | $273.0M |
| 净利润 | $-5.1M | $15.4M |
| 毛利率 | 64.8% | 20.1% |
| 营业利润率 | -0.3% | 7.6% |
| 净利率 | -2.5% | 5.6% |
| 营收同比 | 21.7% | 9.0% |
| 净利润同比 | 62.6% | -6.7% |
| 每股收益（稀释后） | $-0.06 | $0.30 |
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APPNFOR
| Q4 25 | $202.9M | $273.0M | ||
| Q3 25 | $187.0M | $670.5M | ||
| Q2 25 | $170.6M | $390.5M | ||
| Q1 25 | $166.4M | $351.0M | ||
| Q4 24 | $166.7M | $250.4M | ||
| Q3 24 | $154.1M | $551.3M | ||
| Q2 24 | $146.4M | $318.4M | ||
| Q1 24 | $149.8M | $333.8M |
净利润APPNFOR
| Q4 25 | $-5.1M | $15.4M | ||
| Q3 25 | $7.8M | $86.9M | ||
| Q2 25 | $-312.0K | $32.9M | ||
| Q1 25 | $-1.2M | $31.6M | ||
| Q4 24 | $-13.6M | $16.5M | ||
| Q3 24 | $-2.1M | $81.5M | ||
| Q2 24 | $-43.6M | $38.7M | ||
| Q1 24 | $-32.9M | $45.0M |
毛利率APPNFOR
| Q4 25 | 64.8% | 20.1% | ||
| Q3 25 | 75.8% | 22.3% | ||
| Q2 25 | 74.3% | 20.4% | ||
| Q1 25 | 76.6% | 22.6% | ||
| Q4 24 | 67.8% | 22.0% | ||
| Q3 24 | 75.9% | 23.9% | ||
| Q2 24 | 73.1% | 22.5% | ||
| Q1 24 | 74.6% | 24.9% |
营业利润率APPNFOR
| Q4 25 | -0.3% | 7.6% | ||
| Q3 25 | 7.0% | 16.9% | ||
| Q2 25 | -6.4% | 11.2% | ||
| Q1 25 | -0.5% | 11.6% | ||
| Q4 24 | 3.0% | 8.7% | ||
| Q3 24 | -4.6% | 19.7% | ||
| Q2 24 | -26.8% | 16.2% | ||
| Q1 24 | -13.0% | 17.6% |
净利率APPNFOR
| Q4 25 | -2.5% | 5.6% | ||
| Q3 25 | 4.2% | 13.0% | ||
| Q2 25 | -0.2% | 8.4% | ||
| Q1 25 | -0.7% | 9.0% | ||
| Q4 24 | -8.2% | 6.6% | ||
| Q3 24 | -1.4% | 14.8% | ||
| Q2 24 | -29.8% | 12.2% | ||
| Q1 24 | -22.0% | 13.5% |
每股收益（稀释后）APPNFOR
| Q4 25 | $-0.06 | $0.30 | ||
| Q3 25 | $0.10 | $1.70 | ||
| Q2 25 | $0.00 | $0.65 | ||
| Q1 25 | $-0.02 | $0.62 | ||
| Q4 24 | $-0.18 | $0.32 | ||
| Q3 24 | $-0.03 | $1.59 | ||
| Q2 24 | $-0.60 | $0.76 | ||
| Q1 24 | $-0.45 | $0.89 |
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 | $187.2M | $211.7M |
| 总债务越低越好 | $240.8M | $793.2M |
| 股东权益账面价值 | $-47.0M | $1.8B |
| 总资产 | $691.4M | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资APPNFOR
| Q4 25 | $187.2M | $211.7M | ||
| Q3 25 | $191.6M | $379.2M | ||
| Q2 25 | $184.8M | $189.2M | ||
| Q1 25 | $199.7M | $174.3M | ||
| Q4 24 | $159.9M | $132.0M | ||
| Q3 24 | $99.2M | $481.2M | ||
| Q2 24 | $120.8M | $359.2M | ||
| Q1 24 | $170.1M | $416.2M |
总债务APPNFOR
| Q4 25 | $240.8M | $793.2M | ||
| Q3 25 | $245.7M | $802.7M | ||
| Q2 25 | $245.6M | $872.8M | ||
| Q1 25 | $248.0M | $872.5M | ||
| Q4 24 | $250.4M | $806.8M | ||
| Q3 24 | $252.8M | $706.4M | ||
| Q2 24 | $254.0M | $706.1M | ||
| Q1 24 | $255.1M | $705.7M |
股东权益APPNFOR
| Q4 25 | $-47.0M | $1.8B | ||
| Q3 25 | $-48.5M | $1.8B | ||
| Q2 25 | $-53.7M | $1.7B | ||
| Q1 25 | $-31.7M | $1.6B | ||
| Q4 24 | $-32.6M | $1.6B | ||
| Q3 24 | $-49.8M | $1.6B | ||
| Q2 24 | $-45.7M | $1.5B | ||
| Q1 24 | $-9.7M | $1.5B |
总资产APPNFOR
| Q4 25 | $691.4M | $3.2B | ||
| Q3 25 | $611.7M | $3.1B | ||
| Q2 25 | $590.7M | $3.1B | ||
| Q1 25 | $592.9M | $3.0B | ||
| Q4 24 | $621.0M | $3.0B | ||
| Q3 24 | $549.9M | $2.8B | ||
| Q2 24 | $554.6M | $2.7B | ||
| Q1 24 | $595.4M | $2.6B |
负债/权益比APPNFOR
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.48× |
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 | $1.1M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $270.0K | $-157.1M |
| 自由现金流率自由现金流/营收 | 0.1% | -57.5% |
| 资本支出强度资本支出/营收 | 0.4% | 0.0% |
| 现金转化率经营现金流/净利润 | — | -10.19× |
| 过去12个月自由现金流最近4个季度 | $59.6M | $93.0M |
8季度趋势，按日历期对齐
经营现金流APPNFOR
| Q4 25 | $1.1M | $-157.0M | ||
| Q3 25 | $18.7M | $256.3M | ||
| Q2 25 | $-1.9M | $15.8M | ||
| Q1 25 | $45.0M | $-19.8M | ||
| Q4 24 | $13.9M | $-450.0M | ||
| Q3 24 | $-8.2M | $119.2M | ||
| Q2 24 | $-17.6M | $-61.7M | ||
| Q1 24 | $18.9M | $-59.2M |
自由现金流APPNFOR
| Q4 25 | $270.0K | $-157.1M | ||
| Q3 25 | $18.1M | $255.6M | ||
| Q2 25 | $-3.1M | $15.0M | ||
| Q1 25 | $44.3M | $-20.5M | ||
| Q4 24 | $13.4M | — | ||
| Q3 24 | $-8.6M | $118.4M | ||
| Q2 24 | $-18.3M | $-62.3M | ||
| Q1 24 | $16.7M | $-59.8M |
自由现金流率APPNFOR
| Q4 25 | 0.1% | -57.5% | ||
| Q3 25 | 9.7% | 38.1% | ||
| Q2 25 | -1.8% | 3.8% | ||
| Q1 25 | 26.6% | -5.8% | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | -5.6% | 21.5% | ||
| Q2 24 | -12.5% | -19.6% | ||
| Q1 24 | 11.1% | -17.9% |
资本支出强度APPNFOR
| Q4 25 | 0.4% | 0.0% | ||
| Q3 25 | 0.3% | 0.1% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 0.4% | 0.2% | ||
| Q4 24 | 0.3% | 0.0% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.5% | 0.2% | ||
| Q1 24 | 1.5% | 0.2% |
现金转化率APPNFOR
| Q4 25 | — | -10.19× | ||
| Q3 25 | 2.39× | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | — | -1.32× |
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
APPN
| Subscriptions Software And Support | $162.3M | 80% |
| Professional Services | $40.6M | 20% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
