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Autohome Inc.（ATHM）与拼多多（PDD）财务数据对比。点击上方公司名可切换其他公司
拼多多的季度营收约是Autohome Inc.的60.9倍（$15.2B vs $249.8M），拼多多净利率更高（27.1% vs 23.8%，领先3.3%），过去两年拼多多的营收复合增速更高（74.6% vs -0.6%）
Autohome Inc. 是曾经的高速有线互联网服务提供商，运营于1996年至2002年。由米洛·梅丁与电信通讯公司（TCI）、康卡斯特、考克斯通信，以及首任CEO威廉·伦道夫·赫斯特三世共同创立，是通过双向有线电视基础设施提供高速上网服务的合资企业，巅峰时期为美国、加拿大、日本、澳大利亚等地的410万用户提供服务。
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
ATHM vs PDD — 直观对比
营收规模更大
PDD
是对方的60.9倍
$249.8M
净利率更高
PDD
高出3.3%
23.8%
两年增速更快
PDD
近两年复合增速
-0.6%
损益表 — Q3 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $249.8M | $15.2B |
| 净利润 | $59.4M | $4.1B |
| 毛利率 | 63.7% | 56.7% |
| 营业利润率 | 8.3% | 23.1% |
| 净利率 | 23.8% | 27.1% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | — |
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ATHMPDD
| Q3 25 | $249.8M | $15.2B | ||
| Q2 25 | $245.4M | $14.5B | ||
| Q1 25 | $244.3M | — | ||
| Q3 24 | $252.9M | $14.2B | ||
| Q2 24 | $257.7M | — | ||
| Q1 24 | $222.9M | $12.0B | ||
| Q3 23 | $261.2M | $9.4B | ||
| Q2 23 | $252.8M | $7.2B |
净利润ATHMPDD
| Q3 25 | $59.4M | $4.1B | ||
| Q2 25 | $56.0M | $4.3B | ||
| Q1 25 | — | — | ||
| Q3 24 | $61.0M | $3.6B | ||
| Q2 24 | $69.3M | — | ||
| Q1 24 | $52.4M | $3.9B | ||
| Q3 23 | $78.7M | $2.1B | ||
| Q2 23 | $69.9M | $1.8B |
毛利率ATHMPDD
| Q3 25 | 63.7% | 56.7% | ||
| Q2 25 | 71.4% | 55.9% | ||
| Q1 25 | — | — | ||
| Q3 24 | 77.0% | 60.0% | ||
| Q2 24 | 81.5% | — | ||
| Q1 24 | 81.3% | 62.3% | ||
| Q3 23 | 80.4% | 61.0% | ||
| Q2 23 | 82.0% | 64.3% |
营业利润率ATHMPDD
| Q3 25 | 8.3% | 23.1% | ||
| Q2 25 | 16.9% | 24.8% | ||
| Q1 25 | 13.0% | — | ||
| Q3 24 | 4.7% | 24.5% | ||
| Q2 24 | 22.0% | — | ||
| Q1 24 | 17.2% | 29.9% | ||
| Q3 23 | 8.7% | 24.2% | ||
| Q2 23 | 18.6% | 24.3% |
净利率ATHMPDD
| Q3 25 | 23.8% | 27.1% | ||
| Q2 25 | 22.8% | 29.6% | ||
| Q1 25 | — | — | ||
| Q3 24 | 24.1% | 25.1% | ||
| Q2 24 | 26.9% | — | ||
| Q1 24 | 23.5% | 32.3% | ||
| Q3 23 | 30.1% | 22.6% | ||
| Q2 23 | 27.7% | 25.1% |
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 | — | $13.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $55.0B |
| 总资产 | — | $86.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ATHMPDD
| Q3 25 | — | $13.0B | ||
| Q2 25 | — | $8.8B | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $9.3B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $7.7B | ||
| Q3 23 | — | $7.5B | ||
| Q2 23 | — | $4.3B |
股东权益ATHMPDD
| Q3 25 | — | $55.0B | ||
| Q2 25 | — | $50.5B | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $39.7B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $30.3B | ||
| Q3 23 | — | $22.2B | ||
| Q2 23 | — | $20.0B |
总资产ATHMPDD
| Q3 25 | — | $86.2B | ||
| Q2 25 | — | $79.2B | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $66.5B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $52.3B | ||
| Q3 23 | — | $43.1B | ||
| Q2 23 | — | $37.8B |
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 | — | $6.4B |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | — | 1.56× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ATHMPDD
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $3.9B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.9B | ||
| Q3 23 | — | $4.5B | ||
| Q2 23 | — | $3.2B |
现金转化率ATHMPDD
| Q3 25 | — | 1.56× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | — | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.75× | ||
| Q3 23 | — | 2.09× | ||
| Q2 23 | — | 1.78× |
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
ATHM
| Online marketplace and others | $114.7M | 46% |
| Leads generation services | $93.2M | 37% |
| Media services | $41.9M | 17% |
PDD
暂无分部数据
