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APPIAN CORP（APPN）与Rocket Lab Corp（RKLB）财务数据对比。点击上方公司名可切换其他公司
APPIAN CORP的季度营收约是Rocket Lab Corp的1.1倍（$202.9M vs $179.7M），APPIAN CORP净利率更高（-2.5% vs -29.5%，领先26.9%），Rocket Lab Corp同比增速更快（35.7% vs 21.7%），APPIAN CORP自由现金流更多（$270.0K vs $-114.2M），过去两年Rocket Lab Corp的营收复合增速更高（39.2% vs 16.4%）
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。
Rocket Lab是公开上市的航空航天制造商及发射服务提供商，旗下Electron轨道火箭主打小型卫星发射，截至2026年1月已成功完成超75次任务，是全球现役发射次数最多的小型运载火箭。公司还开发了Electron的亚轨道改型HASTE用作高超音速技术测试平台，下一代可复用中型运载火箭Neutron目前也在研发中。
APPN vs RKLB — 直观对比
营收规模更大
APPN
是对方的1.1倍
$179.7M
营收增速更快
RKLB
高出14.0%
21.7%
净利率更高
APPN
高出26.9%
-29.5%
自由现金流更多
APPN
多$114.5M
$-114.2M
两年增速更快
RKLB
近两年复合增速
16.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $202.9M | $179.7M |
| 净利润 | $-5.1M | $-52.9M |
| 毛利率 | 64.8% | 38.0% |
| 营业利润率 | -0.3% | -28.4% |
| 净利率 | -2.5% | -29.5% |
| 营收同比 | 21.7% | 35.7% |
| 净利润同比 | 62.6% | -1.1% |
| 每股收益（稀释后） | $-0.06 | $-0.09 |
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APPNRKLB
| Q4 25 | $202.9M | $179.7M | ||
| Q3 25 | $187.0M | $155.1M | ||
| Q2 25 | $170.6M | $144.5M | ||
| Q1 25 | $166.4M | $122.6M | ||
| Q4 24 | $166.7M | $132.4M | ||
| Q3 24 | $154.1M | $104.8M | ||
| Q2 24 | $146.4M | $106.3M | ||
| Q1 24 | $149.8M | $92.8M |
净利润APPNRKLB
| Q4 25 | $-5.1M | $-52.9M | ||
| Q3 25 | $7.8M | $-18.3M | ||
| Q2 25 | $-312.0K | $-66.4M | ||
| Q1 25 | $-1.2M | $-60.6M | ||
| Q4 24 | $-13.6M | $-52.3M | ||
| Q3 24 | $-2.1M | $-51.9M | ||
| Q2 24 | $-43.6M | $-41.6M | ||
| Q1 24 | $-32.9M | $-44.3M |
毛利率APPNRKLB
| Q4 25 | 64.8% | 38.0% | ||
| Q3 25 | 75.8% | 37.0% | ||
| Q2 25 | 74.3% | 32.1% | ||
| Q1 25 | 76.6% | 28.8% | ||
| Q4 24 | 67.8% | 27.8% | ||
| Q3 24 | 75.9% | 26.7% | ||
| Q2 24 | 73.1% | 25.6% | ||
| Q1 24 | 74.6% | 26.1% |
营业利润率APPNRKLB
| Q4 25 | -0.3% | -28.4% | ||
| Q3 25 | 7.0% | -38.0% | ||
| Q2 25 | -6.4% | -41.3% | ||
| Q1 25 | -0.5% | -48.3% | ||
| Q4 24 | 3.0% | -38.9% | ||
| Q3 24 | -4.6% | -49.5% | ||
| Q2 24 | -26.8% | -40.7% | ||
| Q1 24 | -13.0% | -46.4% |
净利率APPNRKLB
| Q4 25 | -2.5% | -29.5% | ||
| Q3 25 | 4.2% | -11.8% | ||
| Q2 25 | -0.2% | -46.0% | ||
| Q1 25 | -0.7% | -49.5% | ||
| Q4 24 | -8.2% | -39.5% | ||
| Q3 24 | -1.4% | -49.6% | ||
| Q2 24 | -29.8% | -39.2% | ||
| Q1 24 | -22.0% | -47.7% |
每股收益（稀释后）APPNRKLB
| Q4 25 | $-0.06 | $-0.09 | ||
| Q3 25 | $0.10 | $-0.03 | ||
| Q2 25 | $0.00 | $-0.13 | ||
| Q1 25 | $-0.02 | $-0.12 | ||
| Q4 24 | $-0.18 | $-0.11 | ||
| Q3 24 | $-0.03 | $-0.10 | ||
| Q2 24 | $-0.60 | $-0.08 | ||
| Q1 24 | $-0.45 | $-0.09 |
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 | $1.0B |
| 总债务越低越好 | $240.8M | $152.4M |
| 股东权益账面价值 | $-47.0M | $1.7B |
| 总资产 | $691.4M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资APPNRKLB
| Q4 25 | $187.2M | $1.0B | ||
| Q3 25 | $191.6M | $976.7M | ||
| Q2 25 | $184.8M | $688.1M | ||
| Q1 25 | $199.7M | $428.4M | ||
| Q4 24 | $159.9M | $419.0M | ||
| Q3 24 | $99.2M | $442.4M | ||
| Q2 24 | $120.8M | $496.8M | ||
| Q1 24 | $170.1M | $492.5M |
总债务APPNRKLB
| Q4 25 | $240.8M | $152.4M | ||
| Q3 25 | $245.7M | $347.0M | ||
| Q2 25 | $245.6M | $346.5M | ||
| Q1 25 | $248.0M | $345.9M | ||
| Q4 24 | $250.4M | $345.4M | ||
| Q3 24 | $252.8M | $61.2M | ||
| Q2 24 | $254.0M | $64.2M | ||
| Q1 24 | $255.1M | $66.8M |
股东权益APPNRKLB
| Q4 25 | $-47.0M | $1.7B | ||
| Q3 25 | $-48.5M | $1.3B | ||
| Q2 25 | $-53.7M | $688.5M | ||
| Q1 25 | $-31.7M | $431.3M | ||
| Q4 24 | $-32.6M | $382.5M | ||
| Q3 24 | $-49.8M | $419.8M | ||
| Q2 24 | $-45.7M | $455.2M | ||
| Q1 24 | $-9.7M | $478.9M |
总资产APPNRKLB
| Q4 25 | $691.4M | $2.3B | ||
| Q3 25 | $611.7M | $2.2B | ||
| Q2 25 | $590.7M | $1.6B | ||
| Q1 25 | $592.9M | $1.3B | ||
| Q4 24 | $621.0M | $1.2B | ||
| Q3 24 | $549.9M | $1.2B | ||
| Q2 24 | $554.6M | $1.2B | ||
| Q1 24 | $595.4M | $1.2B |
负债/权益比APPNRKLB
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 0.90× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $-64.5M |
| 自由现金流经营现金流 - 资本支出 | $270.0K | $-114.2M |
| 自由现金流率自由现金流/营收 | 0.1% | -63.6% |
| 资本支出强度资本支出/营收 | 0.4% | 27.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $59.6M | $-321.8M |
8季度趋势，按日历期对齐
经营现金流APPNRKLB
| Q4 25 | $1.1M | $-64.5M | ||
| Q3 25 | $18.7M | $-23.5M | ||
| Q2 25 | $-1.9M | $-23.2M | ||
| Q1 25 | $45.0M | $-54.2M | ||
| Q4 24 | $13.9M | $-2.4M | ||
| Q3 24 | $-8.2M | $-30.9M | ||
| Q2 24 | $-17.6M | $-13.0M | ||
| Q1 24 | $18.9M | $-2.6M |
自由现金流APPNRKLB
| Q4 25 | $270.0K | $-114.2M | ||
| Q3 25 | $18.1M | $-69.4M | ||
| Q2 25 | $-3.1M | $-55.3M | ||
| Q1 25 | $44.3M | $-82.9M | ||
| Q4 24 | $13.4M | $-23.9M | ||
| Q3 24 | $-8.6M | $-41.9M | ||
| Q2 24 | $-18.3M | $-28.3M | ||
| Q1 24 | $16.7M | $-21.8M |
自由现金流率APPNRKLB
| Q4 25 | 0.1% | -63.6% | ||
| Q3 25 | 9.7% | -44.8% | ||
| Q2 25 | -1.8% | -38.3% | ||
| Q1 25 | 26.6% | -67.6% | ||
| Q4 24 | 8.0% | -18.1% | ||
| Q3 24 | -5.6% | -40.0% | ||
| Q2 24 | -12.5% | -26.7% | ||
| Q1 24 | 11.1% | -23.5% |
资本支出强度APPNRKLB
| Q4 25 | 0.4% | 27.6% | ||
| Q3 25 | 0.3% | 29.6% | ||
| Q2 25 | 0.7% | 22.2% | ||
| Q1 25 | 0.4% | 23.4% | ||
| Q4 24 | 0.3% | 16.3% | ||
| Q3 24 | 0.2% | 10.5% | ||
| Q2 24 | 0.5% | 14.4% | ||
| Q1 24 | 1.5% | 20.7% |
现金转化率APPNRKLB
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RKLB
| Products | $94.0M | 52% |
| Transferred Over Time | $87.3M | 49% |
